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.

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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.

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

The Conspiracy Against Trump (Giraldi)

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

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

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

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

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

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

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


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

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They knew that before agreeing to the talks.

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

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


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

Read more …

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.

Read more …

 

 

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.”

Read more …

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.”

Read more …

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.

Read more …

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”.

Read more …

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.

Read more …

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.

Read more …

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.

Read more …

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.

Read more …

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

Read more …

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.

Read more …

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

Read more …

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.


Getty images

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Apr 062019
 


Dante Gabriel Rossetti Monna Vanna 1866

 

Cross-Party Talks Fail As Labour Says May Unable To Compromise (G.)
France, Spain and Belgium ‘Ready For No-Deal Brexit Next Week’ (G.)
Sucker Punch (Jim Kunstler)
The Russian Collusion Hoax Meets An Unbelievable End (Nunes)
Boeing Slashes 737 Production By 20% (ZH)
Trump Says Economy Would Take Off Like ‘A Rocket Ship’ If Fed Cut Rates (CNBC)
Ray Dalio Says Capitalism Needs Urgent Reform (MW)
Kondratiev – Riding the Economic Wave (Kerevan)
EU Charges BMW, Daimler and VW With Collusion Over Emissions (G.)
Australian Housing Downturn Becomes Widespread |(ZH)
Saudi Arabia Threatens To Ditch Petrodollar (R.)

 

 

6 days to April 12. May can’t offer Labour anything the Brexiteers don’t want. And vice versa. Thing is, that was obvious 3 years ago.

The problem is not the idea of Brexit, it’s purely the execution.

Cross-Party Talks Fail As Labour Says May Unable To Compromise (G.)

Theresa May’s prospects of cobbling together a cross-party majority to convince EU leaders to grant a short Brexit delay next week appear to be slipping away after Labour claimed she had failed to offer “real change or compromise” in talks. The prime minister made a dramatic pledge to open the door to talks with Labour on Tuesday after a marathon cabinet meeting. But after two days of negotiations and an exchange of letters on Friday, Labour issued a statement criticising the prime minister for failing to offer “real change or compromise”.= “We urge the prime minister to come forward with genuine changes to her deal in an effort to find an alternative that can win support in parliament and bring the country together,” a spokesperson said.


The pessimistic note came after May wrote to the European council president, Donald Tusk, on Friday morning, asking for Brexit to be delayed until 30 June, while cross-party talks continue. Even before Labour’s statement, EU politicians responded with bemusement to her failure to offer a concrete plan for assembling a coalition behind a workable deal – increasing the risk that they will take a tough line at next Wednesday’s summit. May’s letter suggested that the UK was preparing to field candidates in European parliamentary elections on 23 May if no deal could be reached.

Read more …

Don’t be surprised if one country just says NO. Or more than one. For a new extension, May will need a new plan. She has none.

France, Spain and Belgium ‘Ready For No-Deal Brexit Next Week’ (G.)

France has won the support of Spain and Belgium after signalling its readiness for a no-deal Brexit on 12 April if there are no significant new British proposals, according to a note of an EU27 meeting seen by the Guardian. The diplomatic cable reveals that the French ambassador secured the support of Spanish and Belgian colleagues in arguing that there should only be, at most, a short article 50 extension to avoid an instant financial crisis, saying: “We could probably extend for a couple of weeks to prepare ourselves in the markets.” The chances of Theresa May’s proposal of an extension to 30 June succeeding appeared slim as France’s position in the private diplomatic meeting was echoed by an official statement reiterating its opposition to any further Brexit delay without a clear British plan.


May wrote to the president of the European council, Donald Tusk, on Friday to ask for the delay until 30 June while she battles to win cross-party agreement on a way forward. EU states are extremely sceptical that an extension to 30 June will resolve anything in Westminster. Tusk is pushing the EU to offer at a summit next Wednesday what he has described as a “flextension” in which the UK would be given a year-long extension with an option to come out early if the deal is ratified.

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“Mr. Mueller produced a brief of arguments pro-and-con about obstruction for others to decide upon. In doing that, he was out of order, and maliciously so.”

Sucker Punch (Jim Kunstler)

Having disgraced themselves with full immersion in the barren RussiaGate “narrative,” the Resistance is now tripling down on RussiaGate’s successor gambit: obstruction of justice where there was no crime in the first place. What exactly was that bit of mischief Robert Mueller inserted in his final report, saying that “…while this report does not conclude that the President committed a crime, it also does not exonerate him?” It’s this simple: prosecutors are charged with finding crimes. If there is insufficient evidence to bring a case, then that is the end of the matter. Prosecutors, special or otherwise, are not authorized to offer hypothetical accounts where they can’t bring a criminal case. But Mr. Mueller produced a brief of arguments pro-and-con about obstruction for others to decide upon.

In doing that, he was out of order, and maliciously so. Of course, Attorney General Barr took up the offer and declared the case closed, as he properly should where the prosecutor could not conclude that a crime was committed. One hopes that the AG also instructed Mr. Mueller and his staff to shut the fuck up vis-à-vis further ex post facto “anonymous source” speculation in the news media. But, of course, the Mueller staff — which inexplicably included lawyers who worked for the Clinton Foundation and the Democratic National Committee — at once started insinuating to New York Times reporters that the full report would contain an arsenal of bombshells reigniting enough suspicion to fuel several congressional committee investigations.

The objective apparently is to keep Mr. Trump burdened, hobbled, and disabled for the remainder of his term, and especially in preparation for the 2020 election against whoever emerges from the crowd of lightweights and geriatric cases now roistering through the primary states. It also leaves the door open for the Resistance to prosecute an impeachment case, since that is a political matter, not a law enforcement action. This blog is not associated with any court other than public opinion, and I am free to hypothesize on the meaning of Mr. Mueller’s curious gambit, so here goes: Mr. Barr, long before being considered for his current job, published his opinion that there was no case for obstruction of justice in the RussiaGate affair. By punting the decision to Mr. Barr, Mr. Mueller sets up the AG for being accused of prejudice in the matter — and, more to the point, has managed to generate a new brushfire in the press.

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Investigate the road the Steele dossier traveled. Might be all you need.

The Russian Collusion Hoax Meets An Unbelievable End (Nunes)

It is astonishing that intelligence leaders did not immediately recognize they were being manipulated in an information operation or understand the danger that the dossier could contain deliberate disinformation from Steele’s Russian sources. In fact, it is impossible to believe in light of everything we now know about the FBI’s conduct of this investigation, including the astounding level of anti-Trump animus shown by high-level FBI figures like Peter Strzok and Lisa Page, as well as the inspector general’s discovery of a shocking number of leaks by FBI officials.

It’s now clear that top intelligence officials were perfectly well aware of the dubiousness of the dossier, but they embraced it anyway because it justified actions they wanted to take – turning the full force of our intelligence agencies first against a political candidate and then against a sitting president. The hoax itself was a gift to our nation’s adversaries, most notably Russia. The abuse of intelligence for political purposes is insidious in any democracy. It undermines trust in democratic institutions, and it damages the reputation of the brave men and women who are working to keep us safe. This unethical conduct has had major repercussions on America’s body politic, creating a yearslong political crisis whose full effects remain to be seen.

Having extensively investigated this abuse, House Intelligence Committee Republicans will soon be submitting criminal referrals on numerous individuals involved in these matters. These people must be held to account to prevent similar abuses from occurring in the future. The men and women of our intelligence community perform an essential service defending American national security, and their ability to carry out their mission cannot be compromised by biased actors who seek to transform the intelligence agencies into weapons of political warfare.

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The only thing they talk about is software. But if anything goes wrong, these people will be guillotined.

Boeing Slashes 737 Production By 20% (ZH)

Just a few hours after Ethiopian Airlines warned of a “stigma” associated with the 737 Max that may make them choose not to take delivery of the planes they ordered, Boeing has released a statement after-hours that the company will slash production of the 737 plane from 52 to 42 airplanes per month. Bloomberg reports that Boeing plans to coordinate with customers and suppliers to blunt the financial impact of the slowdown, and for now it doesn’t plan to lay off workers from the 737 program. “When the Max returns to the skies, we’ve promised our airline customers and their passengers and crews that it will be as safe as any airplane ever to fly,” Boeing Chief Executive Officer Dennis Muilenburg said in a statement Friday after the market close.


Boeing had planned to hike output of the 737, a workhorse for budget carriers, about 10 percent by midyear, to meet the backlogs. [..] if the issues are not resolved in a timely manner and production of the 737 MAX needs to be halted for an extended period of time, it would take about 0.15% off the level of GDP, or about 0.6%-point off the quarterly annualized growth rate of GDP in the quarter in which production is stopped. [..] the value of total shipments of aircraft by domestic producers in the US totaled $129 billion in 2016. Extrapolating that figure using monthly shipments data by the aircraft and parts industry implies a similar figure for 2018, around $130 billion.

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End the Fed.

Trump Says Economy Would Take Off Like ‘A Rocket Ship’ If Fed Cut Rates (CNBC)

President Donald Trump said Friday the U.S. economy would climb like “a rocket ship” if the Federal Reserve cut interest rates. Commenting after a strong jobs report for March, Trump said the Fed “really slowed us down” in terms of economic growth, and that “there’s no inflation.” “I think they should drop rates and get rid of quantitative tightening,” Trump told reporters, referring to the Fed’s policy of selling securities to unwind its balance sheet, a stimulus put in place during the financial crisis. “You would see a rocket ship. Despite that we’re doing very well.” White House aides have called for the Fed to cut interests rates by as much as 50 basis points. Following the Fed’s most recent meeting in March, the central bank decided to maintain interest rates and hold off on any further increases this year.

As Trump’s chief economic adviser Larry Kudlow did on Friday, Federal Reserve Chairman Jerome Powell highlighted the slowing global economy. “We’re facing a worldwide slowdown [as] Europe is not doing well,” Kudlow said on Bloomberg TV. But unlike the White House, the Fed did not conclude in March that slowing global growth means the bank should begin cutting rates. Trump has been heavily critical of Powell’s decisions at the Fed, going as far as to say that “the Fed has gone crazy” with raising rates. Trump has blamed Powell’s decision-making for drops in the stock market, calling him “loco” for steadily raising rates in 2018 and saying choosing Powell for Fed chairman was the worst mistake of his presidency,

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Capitalism needs capitalism first of all. For that to happen, the Fed will have to be dismantled. You can’t have capitalism without functioning markets. Ergo: America doesn’t appear to like capitalism, or it would make sure it exists.

Ray Dalio Says Capitalism Needs Urgent Reform (MW)

Ray Dalio, founder of Bridgewater Associates LP, the world’s biggest hedge fund, says capitalism has developed into a system that is promoting an ever-wider wealth gap that puts the very existence of the United States at risk. In a two-part series published on LinkedIn, the noted investor argues that capitalism is now in need of reform — and offered ways to accomplish it: ‘I have also seen capitalism evolve in a way that it is not working well for the majority of Americans because it’s producing self-reinforcing spirals up for the haves and down for the have-nots. This is creating widening income/wealth/opportunity gaps that pose existential threats to the United States because these gaps are bringing about damaging domestic and international conflicts and weakening America’s condition.’

[..] Today, however, the system has produced little or no real income growth for most people for decades, according to the Dalio essay on LinkedIn. Prime-age workers in the bottom 60% have had no real (inflation-adjusted) income growth since 1980, and the percentage of children who grow up to earn more than their parents has fallen to 50% from 90% in 1970. The wealth gap is at its widest point since the late 1930s, with the top 1% owning more than the bottom 90% combined, “which,” Dalio notes, “is the same sort of wealth gap that existed during the 1935-40 period (a period that brought in an era of great internal and external conflicts for most countries).”

Most people in the bottom 60% “are poor,” he writes. About 40% of all Americans would struggle to raise $400 in the event of an emergency, he says, citing a recent Federal Reserve study. The childhood poverty rate stands at 17.5% and has not shown meaningful improvement in decades. That, in turn, leads to poor academic achievement, low productivity and low incomes.

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It’s good when people who are not familar with it learn about Kondratieff (though I’ve seen better write-ups), but again: the Fed has become the economy, so what is real anymore?

Kondratiev – Riding the Economic Wave (Kerevan)

There is a rich literature trying to identify the cause, in particular the work of the Belgian economist, the late, great Ernest Mandel. Crudely, it works like this. Social and economic conditions mature to spark a runaway investment boom in the latest cluster of new technologies. After a period, excess investment and increased competition lower rates of profitability, curbing the boom. At the same time – because this is as much a sociological as an economic process – growth expands the global workforce, both in numbers and geographically. The new, militant workforce launches social struggles to capture some of the wealth created in the boom.


This, in turn, adds to the squeeze on profits. The peak and early down wave are characterised by violent social conflicts, whose outcome determines the length of the contraction. To date each K-wave has seen a crushing of social protest and a halt to wage growth, if not a fall in real incomes for the working class. Thus conditions accumulate for a fresh investment boom, as profitability recovers. The ultimate trigger for the new upcycle is investment in the next bunch of new technologies, which simultaneously provide monopoly profits and a new set of markets.

Where precisely are we in the Kondratiev cycle? There is a dispute about this. Economists convinced by the Kondratiev theory largely agree there was a strong up-phase following the Second World War, lasting till the early 1970s. This was driven by the collapse in European wages imposed earlier by the Nazis and by the universal adoption of Fordist, mass production techniques. This expansion turned into a downswing in the 1970s and early 1980s, as profitability declined and the revived European economies (linked through the early Common Market) eroded American competitiveness.


The dispute concerns what happened next – the era of Reagan, Thatcher, neoliberalism and globalisation, running up to the present. In 1998, the American economic historian Robert Brenner published a hugely influential account of global capitalism which claimed to identify a super downswing running from circa 1970 to the turn of the millennium. Brenner rejected the notion global capitalism had (or was likely) to regain profitability, citing excess capacity rather than working class resistance as the primary driver. He pointed to the sudden stagnation in the Japanese economy, in the 1990s, as a precursor for the West’s future.

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Youi’re going to have to go after individuals, not allow them to hide behind corporations.

EU Charges BMW, Daimler and VW With Collusion Over Emissions (G.)

The European commission has charged BMW, Daimler and Volkswagen with colluding to limit the introduction of clean emissions technology, in the preliminary findings of an antitrust investigation. The car manufacturers have 10 weeks to respond and could face fines of billions of euros – up to 10% of their global annual turnover – if their explanations are rejected. A similar cartel case the commission took out in 2014 against MAN, Volvo/Renault, Daimler, Iveco and DAF ended with €2.93bn (£2.53bn) of penalties being levied. The EU’s competition commissioner, Margrethe Vestager, said: “Companies can cooperate in many ways to improve the quality of their products. However, EU competition rules do not allow them to collude on exactly the opposite: not to improve their products, not to compete on quality.”


She added: “Daimler, VW and BMW may have broken EU competition rules. As a result, European consumers may have been denied the opportunity to buy cars with the best available technology.” The EU announcement follows raids on the auto manufacturers in July 2017 after allegations in Der Spiegel that they had met in secret working groups in the 1990s to coordinate a response to diesel emissions limits. Between 2006 and 2014, the commission suspects that the “circle of five” carmakers – including VW’s Audi and Porsche divisions – colluded to limit, delay or avoid the introduction of selective catalytic reduction systems (SCRs) and “Otto” particle filters.

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The drought comes one drop at a time.

Australian Housing Downturn Becomes Widespread |(ZH)

After a three-decade boom, the Australian economy is finally facing a recession. The outlook for the economy is exceptionally bleak this year, as the decline in housing prices is more widespread than thought, according to a new report from CoreLogic. National home prices recorded a month-on-month decline of 0.60% in March, which CoreLogic noted was the smallest rate of monthly decline since October. “While the pace of falls has slowed in March, the scope of the downturn has become more geographically widespread,” CoreLogic head of research Tim Lawless said. All eight capital cities in Australia posted declines, with Sydney recording the most significant price drop of .90% month-on-month.

Quarterly, the value of single-family homes and condos declined 3.9%, followed by Melbourne (3.4%), Sydney (3.2%), Perth (2.9%), and Brisbane (1.1%). Prices in Canberra were unchanged. Sydney recorded the most significant annual decline of 10.9%. Melbourne followed with 9.8%. Australia’s regional housing markets have also deteriorated. Regional areas outside Sydney declined by 3.6% over the past year while regional Queensland saw a 1.6% decline. Regional Western Australia experienced a 9.5% decline over the past year, and for the past five years, values in the region have collapsed by 25.8%

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It’s not entirely Fake News, but it’s certainly No News. There’s one competitor for the USD, and that’s the renminbi, which nobody wants because it’s not traded freely. End of story.

Saudi Arabia Threatens To Ditch Petrodollar (R.)

Saudi Arabia is threatening to sell its oil in currencies other than the dollar if Washington passes a bill exposing OPEC members to U.S. antitrust lawsuits, three sources familiar with Saudi energy policy said. They said the option had been discussed internally by senior Saudi energy officials in recent months. Two of the sources said the plan had been discussed with OPEC members and one source briefed on Saudi oil policy said Riyadh had also communicated the threat to senior U.S. energy officials.


The chances of the U.S. bill known as NOPEC coming into force are slim and Saudi Arabia would be unlikely to follow through, but the fact Riyadh is considering such a drastic step is a sign of the kingdom’s annoyance about potential U.S. legal challenges to OPEC. In the unlikely event Riyadh were to ditch the dollar, it would undermine the its status as the world’s main reserve currency, reduce Washington’s clout in global trade and weaken its ability to enforce sanctions on nation states. “The Saudis know they have the dollar as the nuclear option,” one of the sources familiar with the matter said. “The Saudis say: let the Americans pass NOPEC and it would be the U.S. economy that would fall apart,” another source said.

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Apr 032019
 
 April 3, 2019  Posted by at 9:08 am Finance Tagged with: , , , , , , , , , , , , , ,  


Pablo Picasso Nude on a beach 1929

 

Julian Assange ‘Repeatedly Violated’ Asylum Terms – Ecuador President (G.)
Washington Concerned Over Maduro’s Stay in Power (TeleSur)
Venezuela’s Guaido Stripped Of Immunity, Can Face Prosecution (AFP)
Poorest Countries’ Debt Repayment Bills Soar (G.)
May To Meet Corbyn To Tackle Brexit Deadlock (BBC)
The Macho Drama Queens Of Brexit Are About To Be Knocked Out By Reality (G.)
May Bombshell Means The Little English Nationalist Revolution Is Over (Mason)
Anish Kapoor’s Brexit Artwork: Britain On The Edge Of The Abyss (G.)
Trudeau Expels Two Ex-Ministers From Ruling Party In Bid To End Scandal (R.)
Joe Biden’s 2020 Ukrainian Nightmare (Solomon)
Senate Investigates Claims Of Poor FAA Training In 737 Max Approval (CNBC)
Canada Warming At Twice The Global Rate (G.)
Toxic Air Will Shorten Children’s Lives By 20 Months (G.)

 

 

The story is basic: Lenin Moreno gets caught with his hand in the cookie jar (as revealed in the INA papers) , and seeks to use Assange as a way to deflect attention from that. Photos of his family life years ago in Europe surfaced online, and he blames Assange and WikiLeaks for that. Summary: stupid story.

But what is even worse, though nobody seems to have noticed, is that the Guardian have the story written up be none other than Dan Collyns (in Lima, Peru), who in November with Luke Harding wrote the soon fully discredited (by Robert Mueller, no less) article: Manafort Held Secret Talks With Assange In Ecuadorian Embassy.

The Guardian is officially entirely shameless. Collyns and Luke Harding still work there, as does Kathy Viner, their editor. Not one word of apology was ever uttered for making things up out of thin air just to smear people. Trump should have his people look into this.

Julian Assange ‘Repeatedly Violated’ Asylum Terms – Ecuador President (G.)

Ecuador’s president, Lenín Moreno, has said the WikiLeaks founder Julian Assange had “repeatedly violated” the conditions of his asylum in the country’s London embassy, where he has lived for close to seven years. Speaking to the Ecuadorean radio broadcasters association on Tuesday, Moreno said under the terms of his asylum “Assange cannot lie or, much less, hack into private accounts or private phones” and he could not “intervene in the politics of countries, or worse friendly countries”. Moreno fulminated that “photos of my bedroom, what I eat and how my wife and daughters and friends dance” had been circulated on social media but stopped short of directly accusing WikiLeaks of circulating hacked photos of his family and wiretapping his phone calls and private conversations.

The Ecuadorean government, however, has said it believes the whistleblowing organization shared the photos, which date back several years to when Moreno and his family lived in Geneva. Moreno’s outburst was yet another sign of the Ecuadorean president’s waning tolerance for Assange’s prolonged occupancy of the country’s London embassy since mid-2012. “We should ensure Mr Assange’s life is not at risk but he’s violated the agreement we have with him so many times,” Moreno said of the WiklLeaks founder. The Ecuadorean government directly referred to WikiLeaks in a formal complaint to the special rapporteur for the right to privacy, Joseph Cannataci, at the UN’s human rights council on Monday.

It accused the organization of using social media to spread hacked private photos and personal information from Moreno’s personal computers, tablets and other devices. WikiLeaks tweeted on Tuesday that Moreno had said he would take a decision about Assange’s fate “in the short term” after it had reported on an “offshore corruption scandal wracking his government”. Known in Ecuador as the Ina Papers, the scandal alleges Moreno corruptly benefitted from an offshore account in Panama. Moreno denies any wrongdoing.

In March, the Inter-American Commission on Human Rights rejected a lawsuit filed by Assange which argued that stringent house rules applied since October 2018 in the embassy violated “his fundamental rights and freedoms”. The legal move was also rejected by an Ecuadorean judge last year. Ecuador’s foreign minister, José Valencia, told the Guardian Assange’s conditions were in line with international law and a failure to follow them would breach the terms of his asylum. Moreno has also accused his predecessor turned arch enemy Rafael Correa of spying on him. In September 2017, months after taking office, he accused the former Ecuadorean president of planting a hidden camera in the wall of his presidential office. Correa denies any wrongdoing.

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There are Russian and Chinese “functionaries” in the country now. A military coup or invasion doesn’t appear to be the way to go.

Washington Concerned Over Maduro’s Stay in Power (TeleSur)

Maduro’s stay in power has Washington as well as various regional neighbor countries worried about the situation. It seems that Venezuela’s neighbors followed a false promise to get rid off the Venezuelan President rather quickly. According to the report, allies of the U.S. are disappointed with the result and are now questioning their decision to recognize Juan Guaido as interim president. A military invasion seems to be the only method available to accomplish their goal, and such a scenario doesn’t sit all too well with countries like Colombia and Brazil, according to the report. Self-proclaimed President Juan Guaido has also upped his rhetoric on a foreign military intervention as people start to question his own intentions.


During a rally in Los Teques, near Caracas, Guaido spoke to a crowd of people expressing his will to have a foreign power bomb his own country. “Of course, we will refer to 187. We did not speak here between the lines, here we spoke very clearly.” Referring to article 187.11 of the Venezuelan constitution, which regulates the authorization of a foreign military mission in the country. The U.S. has been shown to be growingly desperate over the situation in Venezuela. Trump’s Special Envoy to Venezuela and convicted war-criminal, Elliot Abrams, has even resorted to threats against Venezuela’s ally Russia, saying they would “pay a high price” for their support of the country.

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Doesn’t recognize the Supreme Court.

Venezuela’s Guaido Stripped Of Immunity, Can Face Prosecution (AFP)

Venezuelan lawmakers loyal to President Nicolas Maduro stripped opposition leader Juan Guaido’s immunity Tuesday – and authorized the high court to criminally prosecute him for proclaiming himself the crisis-hit country’s ruler. Guaido – whose claim is recognized by over 50 countries – had earlier expressed fears of being abducted by government agents following a request by the Supreme Court to the Constituent Assembly to lift his parliamentary immunity. Critics of the controversial two-year-old body say it was created to rubber-stamp Maduro’s decisions and sideline the opposition-controlled National Assembly.


The Constituent Assembly’s president, Diosdado Cabello, announced pro-Maduro lawmakers had unanimously authorized the Supreme Court to prosecute Guaido, leaving him also liable to be charged for breaching a January 29 government ban on leaving the country. The court had been investigating Guaido for usurping Maduro’s powers by declaring himself interim president on January 23 – a move which rapidly gained international support. “The people are determined and nothing is going to stop us,” said a defiant Guaido in response. “There is no turning back in this process.” Guaido recognizes neither the court nor the Constituent Assembly and insisted the decision was invalid.

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Feature not a flaw.

Poorest Countries’ Debt Repayment Bills Soar (G.)

Debt repayments by the world’s poorest countries have doubled since 2010 to reach their highest level since just before the internationally organised write-off in 2005, campaigners have warned. The Jubilee Debt Campaign (JDC) said a borrowing spree when global interest rates were low had left many developing nations facing repayments bills that were forcing them into public spending cuts. Plunging commodity prices, a stronger dollar and rising US interest rates had combined to increase debt repayments by 85% between 2010 and 2018, the JDC said. The bid to reduce the unaffordable debts of the world’s poorest countries was prompted by grassroots activism in the late 1990s and early 2000s, first with the Jubilee 2000 campaign and then with Make Poverty History.


But the financial position of many developing nations has again deteriorated in recent years. Repayments account for more than 12% of government revenue on average, the highest level since 2004, the year before the G8 summit held at Gleneagles agreed a comprehensive package of financial assistance involving aid and debt relief. The International Monetary Fund has become increasingly concerned at the financial vulnerability of poor countries and will discuss the issue at its spring meeting in Washington DC next week. Two-fifths of low-income countries are assessed by the IMF to be at “elevated risk of debt distress”, a doubling since 2013.

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Waving that white flag.

May To Meet Corbyn To Tackle Brexit Deadlock (BBC)

Theresa May is expected to meet Jeremy Corbyn later after she said she wanted to work with the Labour leader to break the Brexit deadlock. The prime minister hopes the two of them can come up with a modified version of her deal with the EU that can secure the backing of MPs. Mr Corbyn says he wants a customs union and workers’ rights to be priorities. But Tory Brexiteer Boris Johnson has accused Mrs May of “entrusting the final handling of Brexit to Labour”. Jacob Rees-Mogg, another prominent Brexiteer, described the offer as “deeply unsatisfactory” and accused Mrs May of planning to collaborate with “a known Marxist”.


Mrs May announced her plan to meet Mr Corbyn – as well as her intention to ask the EU for an extension to the Brexit deadline – after more than seven hours of talks with her cabinet on Tuesday. BBC political editor Laura Kuenssberg says the latest move means the prime minister is likely to adopt a closer relationship with the EU – a softer Brexit – than she has agreed so far. Mr Corbyn said he was “very happy” to meet Mrs May an recognised his own “responsibility” to try to break the deadlock. But the meeting is not expected to take place before this afternoon, at the earliest, says our political editor, who was told by Mr Corbyn’s team that he was not available on Wednesday morning for talks with the PM.

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More funny than anything.

The Macho Drama Queens Of Brexit Are About To Be Knocked Out By Reality (G.)

The closer the Brexit doomsday clock ticks to midnight, the more of a certain type of machismo we get. I find it extremely encouraging. It suggests that if and when all else fails, the Brexit ultras can either fight or fuck their way out of this. Happily, not one of them feels miscast in this hypersexualised action hero role. “How are you feeling tonight?” Sky News inquired of Steve Baker, who last week was wishing he could tear down parliament and bulldoze it into the Thames. “Well, everyone knows I’m Brexit hardman Steve Baker,” came the reply from the man everyone knows needed a cuddle off Jacob Rees-Mogg after the aforementioned ’dozer speech. To me, Steve reads like a come-and-get-me plea to Game of Thrones’ Arya Stark, but we will deal with the rest of his posturing a bit later.


For now, onwards to his equally virile ERG colleague Mark Francois, who you may know serves as Second Lieutenant in the Brexit Catering Corps (Territorial). “My message to the chancellor is simple,” honked Mark, of Philip Hammond’s suggestion that Brexiters such as him not voting for Brexit was making a customs unions more likely. “Up yours!” Oh dear. I would like to say that Mark was last seen boasting about his penis size to readers of his local newspaper, but in reality that was at least 287 of his media appearances ago. Indeed, my message to the voters in Mark’s Rayleigh and Wickford constituency would be: thank you for your service. You guys basically elected a forehead vein. Mark is currently to be found bulging on TV three times an hour.

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Mason’s a bit too left for me, but he’s right here.

May Bombshell Means The Little English Nationalist Revolution Is Over (Mason)

The carefully crafted illusions the May administration were founded on have crumbled into dust. After three years of civil service expertise wasted, billions of pounds of growth lost and two years’ worth of legislative time squandered, Theresa May stopped trying to get Brexit through with Tory votes and turned to Jeremy Corbyn. Corbyn will be asked to co-author a new version of the political declaration acceptable to Labour or, failing that, to help engineer a majority in the Commons, either for a Norway-style deal or a customs union. In effect, May has bottled out of a fourth “meaningful vote”, ditched the threat of no deal completely and, in a desperate attempt to avoid an election, has thrown herself on the mercy of parliament. It should show no mercy.


Labour’s proposed Brexit deal would sign Britain up to the customs union and enter a state of “dynamic alignment” with the rules of the single market. This is not the equivalent of a Norway-style deal, because it allows Britain to participate fully in the single market – with the obligation to accept freedom of movement – but to diverge over time by paying a price in lost market access. If May can accept this to the letter, and is prepared to whip her MPs for it, splitting the Tory party for a generation, Corbyn should consider the offer. But I doubt she will do so. Indeed, I doubt she will retain a shred of authority once the Tory grassroots and backbenches understand the scale of the climbdown she has made.

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“We All Fall Down”

Anish Kapoor’s Brexit Artwork: Britain On The Edge Of The Abyss (G.)


Echoes of the trenches … Kapoor’s work, titled A Brexit, A Broxit, We All Fall Down. Photograph: Anish Kapoor

Anish Kapoor has exposed a bottomless void at the heart of Britain. You could topple in there and never stop falling. In fact, that is exactly what we have done – and solid ground still seems to be nowhere in sight. This artwork, which Kapoor has created for the Guardian, is his response to our current predicament and the new Britain that appeared after the leave vote. Although the Mumbai-born artist has given it a title – A Brexit, A Broxit, We All Fall Down – he does not wish to make any further comment about the piece, preferring to let it speak for itself. The use of colour to suggest infinite voids is one of Kapoor’s most mind-bending abilities as an artist – as a visitor to an exhibition in Portugal recently discovered.


The man actually fell into one work, a black hole in the floor of the gallery. The artist’s use of the world’s blackest paint, which is actually called Kapoor Black, made it impossible to gauge the hole’s depth. When the man fell in, it turned out to be a lot shallower than it looked, luckily for him. This wound, however, is anything but shallow. Britain has inflicted a dreadful injury on itself: a gory rip stretching from Glasgow to the south coast. Our fellow Europeans are watching aghast from across the water as we near the abyss of a no-deal Brexit. Kapoor suggests the damage is even visible from space. His artwork might serve as a warning to any passing flying saucers: avoid this riven nightmare of a nation.

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Justin vs the Whistleblowers.

Trudeau Expels Two Ex-Ministers From Ruling Party In Bid To End Scandal (R.)

Canadian Prime Minister Justin Trudeau on Tuesday sought to quell a crisis that threatens his chances of re-election, expelling from party ranks two former Cabinet members he said had undermined the ruling Liberals. Trudeau said former Justice Minister Jody Wilson-Raybould and former Treasury Board chief Jane Philpott would no longer be allowed to sit as Liberal legislators. They were also barred from running for the party in the federal election this October. The Liberals have been in turmoil since Wilson-Raybould said in February that officials had inappropriately pressured her last year while she was justice minister to ensure that construction company SNC-Lavalin Group Inc escape a corruption trial.


“The trust that previously existed between these two individuals and our team has been broken,” Trudeau told an emergency meeting of caucus. “Civil wars within parties are incredibly damaging because they signal to Canadians that we care more about ourselves than we do about them,” said Trudeau, 47, who took office in November 2015 and faces a tough re-election battle this autumn. Wilson-Raybould, who tweeted news of her ouster before Trudeau’s announcement, was demoted in January and resigned the next month. Philpott quit shortly afterward, saying she had lost confidence in how Trudeau was handling the matter.

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“I’m going to be leaving here in, I think it was about six hours. I looked at them and said: ‘I’m leaving in six hours. If the prosecutor is not fired, you’re not getting the money,’” Biden recalled telling Poroshenko.”

Joe Biden’s 2020 Ukrainian Nightmare (Solomon)

Two years after leaving office, Joe Biden couldn’t resist the temptation last year to brag to an audience of foreign policy specialists about the time as vice president that he strong-armed Ukraine into firing its top prosecutor. In his own words, with video cameras rolling, Biden described how he threatened Ukrainian President Petro Poroshenko in March 2016 that the Obama administration would pull $1 billion in U.S. loan guarantees, sending the former Soviet republic toward insolvency, if it didn’t immediately fire Prosecutor General Viktor Shokin. “I said, ‘You’re not getting the billion.’ I’m going to be leaving here in, I think it was about six hours. I looked at them and said: ‘I’m leaving in six hours. If the prosecutor is not fired, you’re not getting the money,’” Biden recalled telling Poroshenko.

“Well, son of a bitch, he got fired. And they put in place someone who was solid at the time,” Biden told the Council on Foreign Relations event, insisting that President Obama was in on the threat. Interviews with a half-dozen senior Ukrainian officials confirm Biden’s account, though they claim the pressure was applied over several months in late 2015 and early 2016, not just six hours of one dramatic day. Whatever the case, Poroshenko and Ukraine’s parliament obliged by ending Shokin’s tenure as prosecutor. Shokin was facing steep criticism in Ukraine, and among some U.S. officials, for not bringing enough corruption prosecutions when he was fired. But Ukrainian officials tell me there was one crucial piece of information that Biden must have known but didn’t mention to his audience: The prosecutor he got fired was leading a wide-ranging corruption probe into the natural gas firm Burisma Holdings that employed Biden’s younger son, Hunter, as a board member.

[..] U.S. banking records show Hunter Biden’s American-based firm, Rosemont Seneca Partners LLC, received regular transfers into one of its accounts — usually more than $166,000 a month — from Burisma from spring 2014 through fall 2015, during a period when Vice President Biden was the main U.S. official dealing with Ukraine and its tense relations with Russia. The general prosecutor’s official file for the Burisma probe — shared with me by senior Ukrainian officials — shows prosecutors identified Hunter Biden, business partner Devon Archer and their firm, Rosemont Seneca, as potential recipients of money. Shokin told me in written answers to questions that, before he was fired as general prosecutor, he had made “specific plans” for the investigation that “included interrogations and other crime-investigation procedures into all members of the executive board, including Hunter Biden.”

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WIll they fly again in 2019?

Senate Investigates Claims Of Poor FAA Training In 737 Max Approval (CNBC)

The Senate Commerce Committee is launching a probe into whistleblower complaints accusing the Federal Aviation Administration of improperly training its safety inspectors to review the Boeing 737 Max jets. “In light of recent 737 crashes in Indonesia and Ethiopia, the committee is investigating any potential connection between inadequate training and certification of Aviation Safety Inspectors who may have participated in the FSB evaluation of the 737 MAX,” Sen. Roger Wicker, R-Miss., chairman of the committee, wrote to FAA Acting Administrator Daniel Elwell on Tuesday. “Allegations from these whistleblowers include information that numerous FAA employees … had not received proper training and valid certifications.” Wicker said that the FAA may have been notified about these deficiencies as early as August 2018 and that an agency investigation into the allegations may have already been completed.

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And it makes no difference what Canada does.

Canada Warming At Twice The Global Rate (G.)

Canada is warming twice as fast as the rest of the world, a landmark government report has found, warning that drastic action is the only way to avoid catastrophic outcomes. “The science is clear – Canada’s climate is warming more rapidly than the global average, and this level of warming effectively cannot be changed,” Nancy Hamzawi, assistant deputy minister for science and technology at Environment and Climate Change Canada, told reporters on Monday. The report, released late on Monday by Environment and Climate Change Canada, paints a grim picture of Canada’s future, in which deadly heatwaves and heavy rainstorms become a common occurrence. Forty-three government scientists and academics authored the peer-reviewed report.

While global temperatures have increased 0.8C since 1948, Canada has seen an increase of 1.7C – more than double the global average. And in the Arctic, the warming is happening at a much faster rate of 2.3C, the report says. While the increased warming in the Arctic is not yet fully understood, snow and ice play a critical role in reflecting the sun’s radiation and heat. But scientists say the retreat of glaciers and disappearing sea ice both contribute to a feedback loop of warming, which is one of the factors contributing to Canada’s disproportionate temperature increase. The report suggests the majority of warming felt in Canada and around the globe is the result of burning fossil fuels.

Canada has already pledged to cut emissions by 200m tonnes by 2030 – a cornerstone of Prime Minister Justin Trudeau’s national climate strategy – largely through a federally mandated carbon tax and shuttering coal-fired plants. [..] The report makes clear that Canada faces markedly different outcomes, depending on the policies it chooses to reduce emissions. Under a scenario in which global emissions are dramatically reduced, average temperatures will rise only 3C across the country by 2100, including the Arctic region. But if countries – including Canada – fail to act aggressively, increases of 7-9 degrees are likely, and the Arctic faces the prospect of 11 degrees of warming. Under the report’s worst-case scenario, the risk of deadly heatwaves increases tenfold bring with it droughts and forest fires.

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Interesting detail: the graph does not include Europe and North America.

But man, what a brainless species.

Toxic Air Will Shorten Children’s Lives By 20 Months (G.)

The life expectancy of children born today will be shortened by 20 months on average by breathing the toxic air that is widespread across the globe, with the greatest toll in south Asia, according to a major study. Air pollution contributed to nearly one in every 10 deaths in 2017, making it a bigger killer than malaria and road accidents and comparable to smoking, according to the State of Global Air (SOGA) 2019 study published on Wednesday. In south Asia, children can expect to have their lives cut short by 30 months, and in sub-Saharan Africa by 24 months, because of a combination of outdoor air pollution caused by traffic and industry, and dirty air indoors, largely from cooking fires.


In east Asia, air pollution will shorten children’s lives by an estimated 23 months. However, the life expectancy burden is forecast to be less than five months for children in the developed world. “That the life of children is being shortened so much came as really quite a shock,” said Robert O’Keefe, the vice-president of the Health Effects Institute, which produced the report. “There is no magic bullet but governments should be taking action.”

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