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


 

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

 

 

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

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

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


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

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We’re going to hear a lot about this.

Global Elites Started The Russia Nonsense (Farnan)

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

The World: What is Really Happening (Murray)

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


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

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

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

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

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

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

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

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Grandma does.

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

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

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


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

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Bubble. Tesla is brought to you by the Fed.

Elon Musk Confronts The “Bear Case” (VF)

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


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

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

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

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

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

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

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

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

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


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

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

 

 

 

 

May 032019
 


Paul Klee In angel’s care (In Engelshut) 1931

 

Day of the Long Knives (Kassam)
Is The Media Driving America Insane? (LN)
How The News Took Over Reality (G.)
Assange or Khashoggi: Whither Journalistic Standards? (Aziz)
Democrats Rage At Empty Chair As Barr Misses Mueller Hearing (ZH)
How President Trump’s Legal Team Outfoxed Mueller (Chamberlain)
Ukrainian Embassy Confirms DNC Contractor Solicited Trump Dirt In 2016 (Hill)
April US Auto Sales Crash 6.1%, Worst Slide In 8 Years (ZH)
Global Foreign Direct Investment Flows Collapse (DQ)
Hippie-Punching MMT (Edward Harrison)

 

 

“If all these peoples’ ideas were not relevant, or popular, they would not need to be banned.”

It’s World Press Freedom Day today. Painfully ironic. We can’t let Facebook police our world. Or, rather, be police, judge and henchman all in one. We need laws for this and we need to apply them.

I don’t do Facebook anymore since they froze our account, what is it, 3 years ago?! I see Paul Joseph Watson every now and then on Twitter and though I don’t see myself becoming his best friend, he is an intelligent and articulate guy who has never violated Facebook’s regulations. Other than he has a link to Alex Jones. It’s easy to say Good Riddance, but you are next.

Day of the Long Knives (Kassam)

Alex Jones, Paul Joseph Watson, Laura Loomer and Milo Yiannopoulos have been unpersonned by the digital tech giant Facebook and its subsidiary Instagram. They’re coming for you, next. Or more likely, for us. Human Events stands shoulder-to-shoulder with those being routinely targeted by the would-be ‘Masters of the Universe’, no matter if we agree with them or not. Also banned was Louis Farrakhan, the anti-Semitic leader of the repugnant Nation of Islam group. But Farrakhan, like the others, should not have his fate decided by some little nerd in Silicon Valley who has decided his or her feelings are hurt. His fate should be decided in the court of public opinion, with sunlight acting as the greatest disinfectant.

Unfortunately, recent precedent has informed Big Tech that its methods to some extent work. The removal of people like Laura Loomer, Milo, and Tommy Robinson has directly impacted their livelihoods, their work, and their fundamental freedoms. And while Farrakhan is far from someone we would be seen dead around, it is only intellectually consistent if the rules apply both ways. For the psychopaths of Silicon Valley however, intellectual considerations come a distinct last to power, profit, and pandering. The likelihood is Farrakhan’s inclusion on the list is simply a sop to make the decision seem less of a one way street. If I were him, I’d be especially pissed off at being the fall guy in this regard.

But Jones, Loomer, Milo, and Watson have a claim to massive anger too, given they are being lumped in with a man who has said “white people deserve to die”, and who has said to Jewish people, “…don’t you forget, when it’s God who puts you in the ovens, it’s forever!” Tommy now struggles to gain traction – albeit with a smile on his face – and a plan to drive a bus around the country with a big screen on it, to highlight the censorship he faces. Milo – and he will probably hate me for saying this – faces total financial ruin. Alex Jones has had a massive business ripped out from under him. And Laura Loomer has been relegated to staging protests on the front lawns of those who needlessly aggress her.

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If they can make a buck from it, they certainly will.

Is The Media Driving America Insane? (LN)

Now that more of us are consuming news media more often than ever, a higher number of Americans are being fed a steady mental diet of outrage, fear, and hostility wrapped in clickbait headlines designed to make us even more contemptuous of those whose political beliefs clash with our own. Many media outlets have transformed emotionally charged, but ultimately irrelevant, stories into their bread and butter, manipulating their audiences into giving them their precious clicks in exchange for a dose of anger and panic. Otherwise unimportant stories are catapulted into the mainstream simply because the press knows Americans will tune in and boost their ratings.


The Covington kids fiasco is a prime example. What should have been a local matter was morphed into an issue of national importance by a left-wing media apparatus that wanted to further their “MAGA Hat-wearing white people are the spawn of Satan” narrative. In the end, what is accomplished? For the press, it is higher ratings and more clicks. But for the American public, it is a heightened sense of fear, hatred, and stress – a toxic brew rending the social fabric. It is no wonder that many are predicting another civil war. It would be easy to dismiss such claims as pure alarmism, but given how the Fourth Estate wields their influence, this reality is not hard to imagine. Is it possible to reverse course? Sure, but it won’t be easy. The media is in this game for two reasons: To earn a profit, and to achieve their political objectives. They have no incentive to inform rather than persuade. If the trend persists, things are sure to get uglier before they get better.

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Such a piece coming from the Guardian is pretty priceless. Even if it makes some valid points, it’s publications like that which seek to alter reality. Don’t report the news, but manufacture it.

How The News Took Over Reality (G.)

In recent years, there has been enormous concern about the time we spend on our web-connected devices and what that might be doing to our brains. But a related psychological shift has gone largely unremarked: the way that, for a certain segment of the population, the news has come to fill up more and more time – and, more subtly, to occupy centre stage in our subjective sense of reality, so that the world of national politics and international crises can feel more important, even more truly real, than the concrete immediacy of our families, neighbourhoods and workplaces. It’s not simply that we spend too many hours glued to screens. It’s that for some of us, at least, they have altered our way of being in the world such that the news is no longer one aspect of the backdrop to our lives, but the main drama. The way that journalists and television producers have always experienced the news is now the way millions of others experience it, too.


From a British or American standpoint, the overwhelmingly dominant features of this changed mental landscape are Brexit and the presidency of Donald Trump. But the sheer outrageousness of them both risks blinding us to how strange and recent a phenomenon it is for the news – any news – to assume such a central position in people’s daily lives. In a now familiar refrain, the New York Times columnist Nicholas Kristof bemoans his social circle’s “addiction to Trump” – “at cocktail parties, on cable television, at the dinner table, at the water cooler, all we talk about these days is Trump.” But Trump’s eclipse of all other news is not the only precondition for this addiction. The other is the eclipse of the rest of life by the dramas of the news.

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Excellent point. But there’s more: how does Assange’s freedom relate to that of the people who got banned from Facebook yesterday? Most of us will initially react to that question with something about what and who we like, but that’s not good enough.

Assange or Khashoggi: Whither Journalistic Standards? (Aziz)

Did international media and free press advocates who once celebrated Assange, utilized his revelations and heaped awards on Wikileaks, collectively agreed to abandon their erstwhile hero? And why the turnaround? (It’s not easy to explain although one observer suggests former associates actually conspired to depose him.) Increased silence from within Assange’s refuge presaged his recent ‘capture’. Then, when he suddenly appeared, subdued by dozens of guards, how shamelessly international media rushed to cheer his arrest. They seemed to delight in highlighting scant, salacious details of his condition at the time of his arrest. Reprehensible. Dismaying. Will those gloating journalists care what his captors do to Assange in detention?


This for the man whose political analyses and Wikileaks revelations had been daily headlines not long ago. This for a journalist and publisher who introduced a profound strategy to expose a government’s sinister diplomatic schemes, excesses and crimes documented by their own internal reports. This for an organization gathering evidence of government wrongdoing at a critical time, starting in 2006 when U.S. wars in Iraq and Afghanistan were being reevaluated by a sobering public. Rumors of military crimes, cover-ups, torture, black-site prisons, etc. had gradually, although belatedly, gained credibility and, following the Abu Graib Prison revelations, Wikileaks provided irrefutable evidence of how U.S.A. and its allies conducted their wars.

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From the WSJ Editorial Board yesterday: “Mr. Barr has since released the full Mueller report with minor redactions, as he promised, and with the “context” intact. Keep in mind Mr. Barr was under no legal obligation to release anything at all. Mr. Mueller reports only to Mr. Barr, not to the country or Congress.

Mr. Barr has also made nearly all of the redactions in the report available to senior Members of Congress to inspect at Justice. Yet as of this writing, only three Members have bothered—Senate Judiciary Chairman Lindsey Graham, Senate Majority Leader Mitch McConnell and ranking House Republican on Judiciary Doug Collins. Not one Democrat howling about Mr. Barr’s lack of transparency has examined the outrages they claim are hidden.”

Doug Collins’ tirade is a good listen. No need to agree with him.

Democrats Rage At Empty Chair As Barr Misses Mueller Hearing (ZH)

Refusing to allow the fact that AG Barr chose not to attend today’s Mueller Report hearing, angry Democrats took full advantage of the photo-op to conjure images of a terrified attorney general cowering from the truth and protecting a clearly guilty-of-something president. Despite Barr’s decision last night not to attend, because he objected to Democratic demands that their staff counsel be able to question him, Democrats went forward with the theater of the hearing anyway, setting up an empty chair for the absent attorney general. As The Hill reports, Rep. Steve Cohen (D-Tenn.) brought a bucket of Kentucky Fried Chicken to the morning event, and accused Barr of being a coward after it ended. House Judiciary Chairman Jerrold Nadler (D-N.Y.) tore into Barr, accusing him of failing to check President Trump’s “worst instincts” and misrepresenting Mueller’s findings.

“He has failed the men and women of the Department by placing the needs of the President over the fair administration of justice,” Nadler said. “He has even failed to show up today.” Republicans did not take it lying down with Rep. Matt Gaetz (R-Fla.) noted vociferously that “Judiciary Democrats say AG Barr is “terrified.” Yesterday he testified for over five hours in an open hearing. Today, they cut off my microphone.” And, Rep. Doug Collins (R-Ga.) accused Nadler of staging a “circus political stunt” and said the Democratic chairman wanted the hearing to look like an impeachment hearing. “That is the reason. The reason Bill Barr is not here today is because the Democrats decided they didn’t want him here today. That’s the reason he’s not here,” Collins said. “Not hearing from him is a travesty to this committee today.”

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Excellent read. Mueller wanted to make Trump’s firing of Comey to be obstruction. But that would have taken some hoops to jump through.

How President Trump’s Legal Team Outfoxed Mueller (Chamberlain)

When the Mueller Report was released on April 18th, most commentators focused on the “explosive” factual allegations. But other than the shocking revelation that the President once used an expletive in private, very few of those facts were novel; most were leaked long ago. At the end of Volume II of the Mueller Report, however, there were 20 pages of genuinely new material. There, the former FBI director turned Special Counsel Robert Mueller defended his “Application of Obstruction-Of-Justice Statutes To The President.” These overlooked 20 pages were dedicated to defending Mueller’s interpretation of a single subsection of a single obstruction-of-justice statute: 18 U.S.C. § 1512(c)(2).

That’s quite strange, but you know what’s stranger still? In June 2018, Bill Barr, then in private practice at Kirkland & Ellis, wrote a detailed legal memorandum to Deputy Attorney General Rod Rosenstein. This memo came to light in December, when Barr was nominated for Attorney General. The subject was Mueller’s interpretation of the aforementioned 18 U.S.C. § 1512(c)(2). [..] Reading Barr’s June 2018 memo alongside the last twenty pages of the Mueller Report is a curious experience. Together, they read like dueling legal briefs on the meaning of 18 U.S.C. § 1512(c)(2); the type of material one would expect to see from adversarial appellate litigators.

So-why did Robert Mueller dedicate 20 pages of his report to a seemingly obscure question of statutory interpretation? Why did Bill Barr write a detailed legal memorandum to Rod Rosenstein about that very same statute? And how, exactly, did Bill Barr know that that § 1512(c)(2) was central to Mueller’s obstruction theory – in June 2018, when he was still in private practice at Kirkland? [..] why, exactly, was the interpretation of 18 U.S.C. § 1512(c)(2) so contested? Let’s start by looking the statute, excerpted here: (c) Whoever corruptly— (1) alters, destroys, mutilates, or conceals a record, document, or other object, or attempts to do so, with the intent to impair the object’s integrity or availability for use in an official proceeding; or (2) otherwise obstructs, influences or impedes any official proceeding, or attempts to do so [is guilty of the crime of obstruction].

Why was this so important to Mueller? Because most of the obstruction statutes couldn’t possibly apply to President Trump’s behavior, as they require that a defendant obstruct a “pending proceeding” before an agency or tribunal. It is settled law that an FBI investigation does not constitute such a proceeding. But § 1512(c) applies to acts of obstruction done with the intent of impairing evidence for a future, potential proceeding. That made it potentially usable against the President.

Read more …

Ukraine is central. Even without Biden.

Ukrainian Embassy Confirms DNC Contractor Solicited Trump Dirt In 2016 (Hill)

The boomerang from the Democratic Party’s failed attempt to connect Donald Trump to Russia’s 2016 election meddling is picking up speed, and its flight path crosses right through Moscow’s pesky neighbor, Ukraine. That is where there is growing evidence a foreign power was asked, and in some cases tried, to help Hillary Clinton. In its most detailed account yet, Ukraine’s embassy in Washington says a Democratic National Committee insider during the 2016 election solicited dirt on Donald Trump’s campaign chairman and even tried to enlist the country’s president to help.


In written answers to questions, Ambassador Valeriy Chaly’s office says DNC contractor Alexandra Chalupa sought information from the Ukrainian government on Paul Manafort’s dealings inside the country, in hopes of forcing the issue before Congress. Chalupa later tried to arrange for Ukrainian President Petro Poroshenko to comment on Manafort’s Russian ties on a U.S. visit during the 2016 campaign, the ambassador said. Chaly says that, at the time of the contacts in 2016, the embassy knew Chalupa primarily as a Ukrainian-American activist, and learned only later of her ties to the DNC. He says the embassy considered her requests an inappropriate solicitation of interference in the U.S. election.

Read more …

Am I still the only one who thinks this is good news?

April US Auto Sales Crash 6.1%, Worst Slide In 8 Years (ZH)

It was yet another dismal month for US auto sales in April, continuing a recessionary trend that has been in place not only in the US, but globally, for the better part of the last 12 months and certainly since the beginning of 2019. The nonsense-excuse-du jour for this month’s disappointing numbers is being placed on the weather on seasonality on rising car prices, which easily pushed away an overextended, broke and debt-laden U.S. consumer. In a nutshell, US auto sales in April tumbled by 6.1% – the biggest monthly drop since May 2011 – to just 16.4 million units, the lowest since October 2014.

Aside for an incentive-boost driven rebound in March, every month of 2019 has seen a decline in the number of annualized auto sales. Furthermore, as David Rosenberg notes, the -4.3% Y/Y trend is the weakest it has been for the past 8 years. Adding “fuel to the fire”, the average price of a new car in April came in at $36,720, the highest ASP so far this year, according to The Detroit News. It comes at a time where interest rates remain above 6% on average, further pressuring sales.

Read more …

Mostly US funds flowing back home.

Global Foreign Direct Investment Flows Collapse (DQ)

Global foreign direct investment flows plunged by another 27% in 2018 — after having already plunged 16% in 2017 — to just $1.1 trillion, the equivalent of 1.3% of global GDP, the lowest ratio since 1999, according to new data released by the OECD. It was the third consecutive annual plunge in global FDI flows, as more and more companies either choose not to invest in businesses or assets in other countries or are prevented from doing so. At the peak in 2015, before the trade wars began, before the Brexit vote happened, and before China began cracking down on the capital outflows that had fueled big-ticket purchases of strategic companies across the globe as well as surging asset prices in multiple jurisdictions, global FDI flows totaled $1.92 trillion and represented around 2.5% of global GDP. FDI has since collapsed by 43%.

The OECD apportions much of the blame for the latest fall in FDI flows on the US tax reform in 2017, which prompted many US companies to repatriate large amounts of earnings held with foreign affiliates in countries such as Ireland and Switzerland, which both suffered a massive reduction in inward foreign investment last year. The U.S. is traditionally the world’s biggest source of FDI, but last year it recorded negative outflows for the first time since 2005, as the movement of funds from U.S. investors into global businesses and assets reversed and flowed back toward the U.S., at least on paper. The total sum of outflows last year was -$48 billion, compared to $316 billion in 2017.

Read more …

Time to reserve some space for MMT. Harrison has some valid views.

Hippie-Punching MMT (Edward Harrison)

A lot of people like to argue that the central bank and the central government are independent and autonomous powers. And the argument goes that because of this autonomy, central governments like the US aren’t really all-powerful because the central bank can simply refuse to create more IOUs. I think this is a ridiculous argument, though. The central bank is the central government’s agent. And it exists only as a vehicle for executing banking and monetary policies in the government’s interest. The independence it enjoys is entirely at the central government’s discretion – mostly to create the appearance of non-politically motivated policy which would create inflation and debase the currency. If push came to shove, the central government would do whatever it took to issue IOUs to promise to pay the bearer of its money the required sum of fiat currency.

Notice, though, that Euro Zone governments don’t have the same power because they cannot create euros. Sure, they can enforce tax in euros with the coercive power of the penalty of prison as an incentive. But, when their euro taxes fall short, they can’t create euros to make up the shortfall. The euro is not their IOU. They are just like any other debtor in the eurozone. And the MMT crowd were onto this right from the start. In fact, one of the MMT forefathers, Wynne Godley, predicted the European Sovereign Debt Crisis when the euro was first conceived in 1992. On the other hand, most mainstream economists were caught flat-footed by the crisis. They were operating under the assumption that the bond vigilantes had the same power over all debtors including sovereigns.

They said the bond vigilantes just gave sovereigns more leeway. And that’s still their position today despite all evidence to the contrary. How do you trade that? For me, I trade that by saying Germany is the de facto ‘sovereign’ in the euro zone because of its size and fiscal rectitude. The euro would have to cease to exist before German sovereign debt came under attack from bond vigilantes. Now, if Deutsche Bank went bankrupt and Germany bailed it out at great cost and went on a deficit binge to boot and government debt to GDP ended up ballooning to 120% of GDP, things would be different.

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 112019
 
 April 11, 2019  Posted by at 10:57 am Finance Tagged with: , , , , , , , , , , , ,  


William Hogarth Humours of an Election, Plate 2 1754

 

 

While we’re republishing articles about the newly arrested Julian Assange, in his honor, here’s one on the role the press has played in his ordeal. And will undoubtedly continue to play. What does it say about a society that you have to hold not only the government, but also the press to account?

We originally published this essay on August 17 2018.

 

 

Two thirds of Americans want the Mueller investigation (inquisition, someone called it) over by the midterm elections. Trump lawyer Rudy Giuliani has said that if Mueller wants to interview Trump, he’ll have to do so before September 1, because the Trump camp doesn’t want to be the one to unduly influence the elections. Mueller himself appears to lean towards prolonging the case, and that may well be with an eye on doing exactly that.

And there’s something else as well: as soon as the investigation wraps up, Trump will demand a second special counsel, this time to scrutinize the role the ‘other side’ has played in the 2016 presidential election and its aftermath. He’s determined to get it, and he’ll fire both Jeff Sessions and Rod Rosenstein if they try to stand in his way.

There have of course been tons of signs that it’s going to happen, but we got two significant ones just the past few days. The first is the termination of John Brennan’s security clearance. It looks impossible that no additional clearances will be revoked. There are more people who have them but would also be part of a second special counsel’s investigation. That doesn’t rhyme.

The second sign is Senator Rand Paul’s call for immunity for Julian Assange to come talk to the US senate about what he knows about Russian involvement in the 2016 election. Obviously, we know that he denies its very existence, and has offered to provide evidence to that end. But before he could do that, a potential deal with the DOJ to do so was torpedoed by then FBI chief James Comey and Senator Mark Warner.

Both will also be part of the second investigation. Rand Paul’s motivation is simple: Assange’s testimony could be a very significant part of the process of figuring out what actually happened. And that should be what everybody in Washington wants. Question is if they all really do. That’s -ostensibly- why there is the first, the Mueller Russian collusion, investigation. Truth finding.

But Mueller doesn’t appear to have found much of anything. At least, that we know of. He’s locked up Paul Manafort on charges unrelated to collusion, put him in isolation and dragged him before a jury. But don’t be surprised if Manafort is acquitted by that jury one of these days. The case against him seemed a lot more solid before than it does now. A jury that asks the judge to re-define ‘reasonable doubt’ already is in doubt, reasonable or not. And that is what reasonable doubt means.

 

But it wasn’t just Brennan and Comey and Peter Strzok and Lisa Page and all the rest of them in the intelligence community who played questionable roles around the election and the accusations of Russian meddling in it. The American media were also there, and very prominently. Which is why when 300 papers publish editorials pushing against Trump ‘attacking’ the media, you can’t help but -wryly- smile.

Why does Trump attack the press? Because they’ve been attacking him for two years, and they’re not letting go. So the press can attack the president, but he cannot fight back. That’s the rationale, but with the Mueller investigation not going anywhere it’s a hard one to keep alive.

There are three reasons for the behavior of the New York Times, WaPo, MSNBC, CNN et al. The first is political, they’re Democrat hornblowers. The second is their owners have a personal thing against Donald Trump. But these get trumped by the third reason: Trump is their golden goose. Their opposition makes them a fortune. All they need to do is publish articles 24/7 denouncing him. And they have for two years.

That puts the 300 papers’ editorials in a strange light. Many of them would have been fighting for their very lives if not for anti-Trump rhetoric. All 300 fit neatly and easily in one echo chamber. And, to put it mildly, inside that chamber, not everyone is always asking for evidence of everything that’s being said.

It’s not difficult to whoop up a storm there without crossing all your t’s. And after doing just that for 2 years and change, it seems perhaps a tad hypocritical to claim that you are honest journalists just trying to provide people with the news as it happened.

Because when you’ve published hundreds, thousands of articles about Russian meddling, and the special counsel that was named to a large degree because of those articles, fails to come up with any evidence of it, it will become obvious that you’ve not just, and honestly, been reporting the news ‘as it happened’. You have instead been making things up because you knew that would sell better.

And when the second special counsel starts, where will American media be? Sure, it may not happen before the midterms, and you may have hopes that the Democrats win those bigly, but even if that comes to pass (slim chance), Trump will still be president, and the hearings and interviews won’t be soft and mild. Also, there will be serious questions, under oath, about leaks to the press.

 

Still, whichever side of this particular fence you’re on, there’s one thing we should all be able to agree on. That is, when we get to count how many of the 300 editorials have actually mentioned, let alone defended, Julian Assange, and I’ll bet you that number is painfully close to zero, that is where we find out how honest this defense of the free press is.

If for you the free press means that you should be able to write and broadcast whatever you want, even if it’s lacking in evidence, as much of the Russiagate stuff obviously is, and you ‘forget’ to mention a man who has really been attacked and persecuted for years, for publishing files that are all about evidence, you are not honest, and therefore probably not worth saving.

Julian Assange and WikiLeaks are the essence of the free press. A press that is neutral, objective, fearless and determined to get the truth out. The New York Times and CNN simply don’t fit that description -anymore-. So when their editors publish calls to protect free press, but they leave out the one person who really represents free press, and the one person who’s been tortured for exactly that, you have zero credibility.

Sure, you may appear to have credibility in your echo chamber, but that’s not where real life takes place, where evidence is available and where people can make up their own minds based on objective facts provided by real journalists.

You guys just blew this big time. You don’t care about free press, you care about your own asses. And the second special counsel is coming. Good luck. Oh, and we won’t forget your silencing of Assange, or your attacks on him. If you refuse to do it, WE will free the press.

 

 

Apr 052019
 


Pablo Picasso Crucifixion 1930

 

 

President Donald J. Trump
The White House
1600 Pennsylvania Avenue, N.W.
Washington, DC 20500.

 

 

Mr. President,

I write to you because I’m seeing something unfold that concerns you, and I have no way of knowing if you’re aware of it, nor have I seen anyone else mention it. That is, sir, you are being set up, a trap is being set for you, and unless you are aware of it, you may well walk into that trap eyes wide open.

It may not be in your briefing this morning, but the WikiLeaks organization has reported that high-ranking Ecuadorean state officials have told them Julian Assange will be expelled from their London embassy in a matter of “hours to days”. Now, I don’t know what your personal opinion is of Mr. Assange, maybe you think he deserves punishment for leaking secret files to the public.

Your personal opinion of Mr. Assange, however, is not the most important issue here, no offense. What’s most important to your own situation, as well as that of Mr. Assange, is that the people who are after him are the very same people who have been after you for 3 years, and who will double their efforts after suffering a huge loss due to Robert Mueller’s No Collusion report.

What the trap set for you consists of is that if you let these -largely anonymous- deep state actors get their hands on Mr. Assange, you will greatly empower them (even further). But, sir, his enemies inside US intelligence are the same as yours, and empowering one’s enemies is not the way to do battle.

 

We know they are the same people because of Robert Mueller. Mr. Assange was the only way Mr. Mueller could think of to link you to “the Russians”. This is a narrative built upon the -false- notion that “Russians” hacked the DNC servers and sent the contents to Mr. Assange. The narrative has been fully discredited by multiple voices multiple times, but Mr. Mueller has never retracted it.

For good reason: this way he -and others- can leave the story, and suspicion, open that there is a link between you, Mr. Assange and the Russians, despite the Mueller report’s no collusion conclusion. And do note: it not only maintains the popular and media suspicion of Mr. Assange, it also leaves suspicion of you alive.

Former British ambassador Craig Murray explained the intricacies -again- a few days ago:

 

Muellergate and the Discreet Lies of the Bourgeoisie

Robert Mueller repeats the assertion from the US security services that it was Russian hackers who obtained the DNC emails and passed them on to Wikileaks. I am telling you from my personal knowledge that this is not true. Neither Mueller’s team, not the FBI, nor the NSA, nor any US Intelligence agency, has ever carried out any forensic analysis on the DNC’s servers. The DNC consistently refused to make them available. The allegation against Russia is based purely on information from the DNC’s own consultants, Crowdstrike.

William Binney, former Technical Director of the NSA (America’s US$40 billion a year communications intercept organisation), has proven beyond argument that it is a technical impossibility for the DNC emails to have been transmitted by an external hack – they were rather downloaded locally, probably on to a memory stick. Binney’s analysis is fully endorsed by former NSA systems expert Ed Loomis. There simply are no two people on the planet more technically qualified to make this judgement. Yet, astonishingly, Mueller refused to call Binney or Loomis (or me) to testify. Compare this, for example, with his calling to testify my friend Randy Credico, who had no involvement whatsoever in the matter, but Mueller’s team hoped to finger as a Trump/Assange link.

The DNC servers have never been examined by intelligence agencies, law enforcement or by Mueller’s team. Binney and Loomis have written that it is impossible this was an external hack. Wikileaks have consistently stressed no state actor was involved. No evidence whatsoever has been produced of the transfer of the material from the “Russians” to Wikileaks. Wikileaks Vault 7 release of CIA documents shows that the planting of false Russian hacking “fingerprints” is an established CIA practice. Yet none of this is reflected at all by Mueller nor by the mainstream media. “Collusion” may be dead, but the “Russiagate” false narrative limps on.

 

Mr. Trump, sir, I don’t doubt you have realized by now that you are not rid yet of Robert Mueller. But Mr. Mueller is but one cog in the large wheel of intelligence running against you. Yes, the same wheel that runs against Mr. Assange. I’m sure you recognize that it’s hugely ironic, but there is a for now unbreakable bond between the two of you.

Not because of anything you did yourselves, but because Russiagate conspirators in the media, the Democratic party and the intelligence community have created it. And you need to be careful on account of that bond, because they’re going to -try to- use it against you.

I may be a lot more sympathetic to Mr. Assange than you are, but as I said before, this has nothing to do with personal opinion. This is about a trap being set for you. And Mr. Assange is an important part of that trap.

Through him, and especially if they keep him incommunicado, they can keep Russiagate alive, which allows for hundreds of billions of dollars in annual arms expenditures and the 24/7/365 threat of war.

Without the empty allegations against Mr. Assange, Robert Mueller would have had to drop his probe much earlier, but in keeping the allegations alive by silencing Mr. Assange, Russiagate can live on, because the link between Russian hackers and WikiLeaks can be left hanging in the air. And that, Mr. President, will be bad news for you, whether you like it or not, whether you acknowledge it or not.

 

We haven’t talked about the media yet, but there’s another giant irony in the US media clamoring about press freedom, and using it to smear you for 3 years, but not saying a single word to defend that same freedom when it comes to Mr. Assange. They, too, will continue to haunt you, using Mr. Assange as their bait. Don’t let them.

I don’t know what you intend to do about Russiagate and its main perpetrators, but I do know you can make things much easier for yourself if you solve the Assange conundrum first. And you can’t do that by allowing your own enemies to get their hands on him and rendition him; that will backfire on you.

You could pardon him, but that may be a step too far for you at this point. It might be better to simply allow him to go home to Australia.

What would amuse me to no end is if you would personally nominate him for a Nobel Peace Prize. That would piss off so many of your enemies it would be a sight to see. The biggest bird you can flip them all. And then after that, you know, go talk to Vladimir Putin and tell him you’re sorry for all this bad theater.

There’s this scene in the Godfather where Marlon Brando as the ageing Don tells Al Pacino how to recognize the traitor in his own midst: the one who suggests setting up a meeting. This is very similar: whoever comes to you to suggest the harshest treatment of Julian Assange, will be the one(s) intent on coming after you too.

One last thing, Mr. President: Julian Assange, Chelsea Manning and Edward Snowden are among the best, brightest and bravest people our world has to offer. We need people like them, and we need them badly. And it’s a lot more stupid than it is simply ironic, that they are the ones we are locking up and silencing. That way America will never be great again, guaranteed.

And you, sir (I know, more irony) may be their -and our- best and even last hope. You have the power to set free our best. Please use it wisely. And Mr. President, sir, be careful out there.

Know your enemies.

 

 

 

 

Mar 242019
 
 March 24, 2019  Posted by at 10:29 am Finance Tagged with: , , , , , , , , , , , , , ,  


Edward Hopper New York movie 1938

 

Mueller – The Name That Ended All Mainstream Media Credibility (RT)
The Accountability That Must Follow Mueller’s Report (Solomon)
Russiagate Is WMD Times A Million (Matt Taibbi)
As Tory MPs Plot May’s Downfall, Her Last Allies Battle For Her Survival (G.)
Pro-Remain MPs Draw Up Plans To Vote On Revoking Article 50 (O.)
‘One Million’ Protesters Join Historic March For Second Referendum (Ind.)
The Countries with the Most Monstrous Corporate Debt Pileups (WS)
UK Fracking Plan ‘Will Release Same CO2 As 300 Million New Cars’ (O.)
Greek Homes In Airbnb Fever (AFP)
Hunt For Bogus Asthma Cure Threatens Pangolins (O.)

 

 

I could gloat and congratulate myself for having resisted the anti-Trump Russiagate mania for 2-3 years. But I’m occupied by wondering where this will go from here. Same with Brexit: what will all this folly lead to?

Mueller – The Name That Ended All Mainstream Media Credibility (RT)

Important pundits and news networks have served up an impressive display of denials, evasions and on-air strokes after learning that Robert Mueller has ended his probe without issuing a single collusion-related indictment. The Special Counsel delivered his final report to Attorney General William Barr for review on Friday, with the Justice Department confirming that there will be no further indictments related to the probe. The news dealt a devastating blow to the sensational prophesies of journalists, analysts and entire news networks, who for nearly two years reported ad nauseam that President Donald Trump and his inner circle were just days away from being carted off to prison for conspiring with the Kremlin to interfere in the 2016 presidential election.

Some journalists and television anchors took to Twitter and the airwaves on Friday night to acknowledge that the media severely misreported Donald Trump’s alleged ties to Russia, as well as what Mueller’s probe was likely to find. “How could they let Trump off the hook?” an inconsolable Chris Matthews asked NBC reporter Ken Dilanian during a segment on MSNBC’s ‘Hardball’. Dilanian tried to comfort the MSNBC host with some of his signature punditry. “My only conclusion is that the president transmitted to Mueller that he would take the Fifth. He would never talk to him and therefore, Mueller decided it wasn’t worth the subpoena fight,” he expertly mused. Actually, there were several journalists who conjured up a reason why Mueller didn’t throw the book at Trump, even though the president is clearly a Putin puppet.

“It’s certainly possible that Trump may emerge from this better than many anticipated. However! Consensus has been that Mueller would follow DOJ rules and not indict a sitting president. I.e. it’s also possible his report could be very bad for Trump, despite ‘no more indictments,'” concluded Mark Follman, national affairs editor at Mother Jones, who presumably, and very sadly, was not being facetious. Revered news organizations were quick to artfully modify their expectations regarding Mueller’s findings. “What is collusion and why is Robert Mueller unlikely to mention it in his report on Trump and Russia?” a Newsweek headline asked following Friday’s announcement. Three months earlier, Newsweek had meticulously documented all the terrible “collusion” committed by Donald Trump and his inner circle.

The denials, evasions and bizarre hot takes are made even more poignant by the fact that just days ago, there was still serious talk about Trump’s entire family being hauled off to prison. “You can’t blame MSNBC viewers for being confused. They largely kept dissenters from their Trump/Russia spy tale off the air for 2 years. As recently as 2 weeks ago, they had @JohnBrennan strongly suggesting Mueller would indict Trump family members on collusion as his last act,” journalist Glenn Greenwald tweeted. While the Mueller report has yet to be released to the public, the lack of indictments makes it clear that whatever was found, nothing came close to the vast criminal conspiracy alleged by virtually the entire American media establishment.

“You have been lied to for 2 years by the MSM. No Russian collusion by Trump or anyone else. Who lied? Head of the CIA, NSA,FBI,DOJ, every pundit every anchor. All lies,” wrote conservative activist Chuck Woolery. Kim Dotcom was more blunt, but said it all: “Mueller – The name that ended all mainstream media credibility.”

Read more …

John Solomon start out saying Trump’s lawyers have been right in their approach to Mueller.

The Accountability That Must Follow Mueller’s Report (Solomon)

Now, Mueller’s investigations leave one major mission unfinished: meting out justice to the intelligence, congressional, FBI and DOJ officials who appear to have used a political dirty trick to falsely weave an unproven narrative of Russia collusion. Unverified political opposition research never should be treated as actionable intelligence or Foreign Intelligence Surveillance Act (FISA) evidence, as it was in this case. Just hours before Mueller’s report arrived, new evidence emerged of just how egregious the FBI acted in the early days of the Russia probe.

Fox News’s brilliant reporter Catherine Herridge obtained new text messages Friday showing Deputy FBI Director Andrew McCabe and his chief lawyer, Lisa Page, were discussing credibility issues and “bias” about a key human source whose work was to support the FISA warrant used to first spy on the Trump campaign in October 2016. Those credibility issues likely were hidden from the judges who approved the warrant of Trump campaign adviser Carter Page (no relation to Lisa Page). As I have reported, the FBI also possesses emails showing concerns with the evidence it was going to use to support the FISA warrant.

Likewise the bureau didn’t disclose to the court that: • the “Steele dossier” that was the main FISA evidence was paid for with funds from Hillary Clinton’s campaign and the Democratic Party; • Christopher Steele, the dossier’s author, had told a senior DOJ official he was desperate to defeat Trump; • most of the dossier was not verified before it was used as evidence of alleged Trump-Russia collusion; and • agents collected statements from key defendants such as Papadopoulos and Carter Page during interactions with an FBI informant that strongly suggested their innocence. Such omissions are so glaring as to constitute defrauding a federal court. And each and every participant to those omissions needs to be brought to justice.

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Prediction: the media are going to dig in.

Russiagate Is WMD Times A Million (Matt Taibbi)

Nobody wants to hear this, but news that Special Prosecutor Robert Mueller is headed home without issuing new charges is a death-blow for the reputation of the American news media. As has long been rumored, the former FBI chief’s independent probe will result in multiple indictments and convictions, but no “presidency-wrecking” conspiracy charges, or anything that would meet the layman’s definition of “collusion” with Russia. With the caveat that even this news might somehow turn out to be botched, the key detail in the many stories about the end of the Mueller investigation was best expressed by the New York Times: “A senior Justice Department official said that Mr. Mueller would not recommend new indictments.”

The Times tried to soften the emotional blow for the millions of Americans trained in these years to place hopes for the overturn of the Trump presidency in Mueller. Nobody even pretended it was supposed to be a fact-finding mission, instead of an act of faith. The Special Prosecutor literally became a religious figure during the last few years, with votive candles sold in his image and Saturday Night Live cast members singing “All I Want for Christmas is You” to him featuring the rhymey line: “Mueller please come through, because the only option is a coup.” The Times story today tried to preserve Santa Mueller’s reputation, noting Trump’s Attorney General William Barr’s reaction was an “endorsement” of the fineness of Mueller’s work:

“In an apparent endorsement of an investigation that Mr. Trump has relentlessly attacked as a “witch hunt,” Mr. Barr said Justice Department officials never had to intervene to keep Mr. Mueller from taking an inappropriate or unwarranted step.” Mueller, in other words, never stepped out of the bounds of his job description. But could the same be said for the news media?

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They should all go. Call elections, call off Brexit for now. This has become a threat to the UK itself.

As Tory MPs Plot May’s Downfall, Her Last Allies Battle For Her Survival (G.)

Tory insiders described the party’s atmosphere as “end of days”. May was in her Chequers retreat on Sunday, talking tactics to colleagues. She faces resignations from both wings of her cabinet should her Brexit deal be voted down this week, as expected. One of her team said they expected Brexit to come down to a “blunt choice between no deal or a customs union [with the EU]”. Pro-Remain ministers will not tolerate any endorsement of a no-deal Brexit. But some pro-Brexit ministers have said that May could not carry on in No 10 unless she backed a no-deal Brexit. “It is being said that the only way she could stay on as prime minister is if she backed no-deal,” said a cabinet source. “That is where the party is – anything else would cause a huge division.”

While accepting that May faces a terminal loss of support, some senior ministers are also warning that toppling her now would unleash a general election and a leadership fight that would be “toxic” for the Tories. “It is much better that one person is held responsible for all this mess,” said one senior minister.“If you get shot of her this week, you can almost guarantee an election and a whole set of problems.” There is no clear plan of what would happen should May stand down. Some assume that her de facto deputy, David Lidington, would take over. However, seen as a pro-Remain minister, he would also face serious challenges from Tory MPs if he attempted to engineer a soft Brexit. One minister said: “The idea that everyone would step back and allow David Lidington to deliver a soft Brexit is absurd.”

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A national government anyone?

Pro-Remain MPs Draw Up Plans To Vote On Revoking Article 50 (O.)

Pro-Remain MPs are drawing up plans for a vote on revoking article 50 as an emergency measure to stop Britain crashing out of the EU, after an online petition to cancel Brexit became the most popular ever. By Saturday night more than 4.6 million people had signed the petition on the parliament website, which states: “A People’s Vote may not happen – so vote now”. Public discussion about halting Brexit was considered politically toxic until just days ago. But that shifted last week as the prospect of crashing out drew closer and the number of petition signatures rose dramatically. A cross-party group of parliamentarians is now examining the possibility of cancelling the Brexit process, following concerns that Theresa May could end up backing Tory MPs who favour a no-deal departure if her own withdrawal agreement is rejected again.

They are planning to table an amendment to Brexit legislation closer to the day of Britain’s scheduled departure from the EU. The European court of justice ruled late last year that Britain could unilaterally revoke article 50, although not just to buy time. Writing on theguardian.com, the Tory MP Phillip Lee said that the people had to be given an opportunity to reconsider Brexit and that one way of allowing this to happen would be to revoke article 50. “Mrs May should ensure that the UK has the time and the space to do this in a properly considered way – either by seeking a long extension of article 50, or by taking back control and revoking it altogether.”

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One time is not enough. They should be there again today, and tomorrow. Will they?

‘One Million’ Protesters Join Historic March For Second Referendum (Ind.)

An estimated 1 million people staged one of the biggest marches in British history to demand a second referendum on Brexit and for the public to have the Final Say on the gathering crisis. The streets of central London were clogged with protesters from across the country, urging politicians – faced with the country potentially crashing out of the EU in just three weeks’ time – to hand the decision back to the people. Aerial cameras captured the spectacular scenes of the vast throng winding its way to outside the Houses of Parliament to hear passionate speeches from MPs of all parties.

Perhaps the most dramatic picture was the unfurling of an enormous banner with the pre-referendum words of David Davis, the Brexit-supporting Tory MP: “If a democracy cannot change, it ceases to be a democracy.” Among the speakers were Tom Watson, Labour’s deputy leader, who called out to Theresa May, saying: “Have a look out of the window prime minister. Open your curtains. Switch on your TV. Here are the people.” Some in the crowd cried out “Where’s Jeremy Corbyn?” – the Labour leader, who was later revealed to be campaigning for his party ahead of local elections in Lancashire. Michael Heseltine, the Conservative grandee, used his speech to express “contempt” for Brexiteers “wrapped in a Union Jack” who invoke Winston Churchill for their cause.

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Wolf Richter and an insane amount of graphs. Pretty scary.

The Countries with the Most Monstrous Corporate Debt Pileups (WS)

US corporate debt, excluding debt by banks – so “nonfinancial” corporate debt – has surged in recent years by all measures and to such an extent that it was featured prominently in the Fed’s Financial Stability Report, in terms of what might trigger the next financial crisis. The Fed is counting total nonfinancial business debts, which include the debts of businesses that are not incorporated. It found about $17 trillion in debts.

A narrower measure is nonfinancial corporate debt, which amounts to $15 trillion. This is up a breath-taking 40% from the prior peak in 2008. The Bank for International Settlements (BIS) uses this measure to compare how corporate debt stacks up in different countries. One of its measures is corporate debt denominated in local currency; and in order to determine the relative size of this debt, the BIS expresses it as a percent of nominal local-currency GDP. So Chinese debt in yuan as a percent of Chinese GDP in yuan. By this measure, the US nonfinancial corporate debt-to-GDP ratio has ballooned to the highest ever: a stunning whopping 73.9% of GDP:

The BIS also converts local-currency debt to dollars, so that the total debts can be compared from one country to another. And the US corporate debt of $15 trillion pales compared to China’s corporate debt of $19.7 trillion. But that is down from the $21.1 trillion in Q1 2018, at which point Chinese authorities got serious about deleveraging the corporate sector. The monstrous pileup of corporate debt in China happened in just 12 years:

China’s economy, while growing much faster than the US economy, is still quite a bit smaller than the US economy, when measured by GDP in US dollars. And so among the larger economies, China’s corporate-debt-to-GDP ratio is unrivaled (though there are some small economies with special tax laws that blow right past China for other reasons, and we’ll get to those in a moment). The data for China goes back only to 2006. Note the effects of China’s efforts to deleverage its corporate sector, with corporate debt-to-GDP ratio now down to 152.9%. But China is only in 7th Place by debt-to-GDP!

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But the profits!

UK Fracking Plan ‘Will Release Same CO2 As 300 Million New Cars’ (O.)

The government’s fracking proposals would release the same amount of greenhouse gas emissions as almost 300 million new cars, fatally undermining ministers’ obligation to tackle the escalating climate crisis, according to new research. Analysis by the Labour party shows that the amount of carbon dioxide released into the atmosphere if the government’s plans go ahead would be the same as the lifetime emissions of 286 million cars – or 29 new coal-fired power plants. The findings come as ministers’ efforts to kickstart their fracking proposals face growing resistance, with defeat in the courts, fierce local objections and opposition from Labour and Tory councils alike.

Labour leader Jeremy Corbyn, who was in Lancashire on Saturday to join the anti-fracking campaign in the region, said a future Labour government would ban fracking “once and for all”. “The Conservatives’ fracking plans will damage our environment and fly in the face of community opposition,” he said. “There is a clear alternative to fracking. Clean, renewable energy is the future of our economy and will create more than 400,000 jobs as part of Labour’s green industrial revolution.” Concerns about drilling flared in the run-up to Christmas when energy company Cuadrilla was forced to pause operations near Blackpool three times after drilling caused small earthquakes that breached government safety limits.

Several local authorities – including London, Manchester, Leeds, Wakefield, Hull and York – have expressed opposition to fracking. There is also opposition from many Tories. In Westminster, almost two dozen Tory MPs are reported to be against fracking and willing to “destroy the government’s majority” if it tries to weaken planning laws.

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I’m seeing it happen around me here in Athens. I’m staying in Koukaki. Very destructive.

Greek Homes In Airbnb Fever (AFP)

For Dimitra Dionysopoulou, who lives in the shadow of the Acropolis, there is no mistaking the signs of the Airbnb takeover in her neighbourhood. “Renovation noise, debris disposal bins on every street, and rolling luggage,” said the 50-year-old Athenian mother. Dionysopoulou has lived her entire life in the middle-class district of Koukaki, now in the midst of a home-sharing frenzy. In 2016, it was named Airbnb’s fifth fastest growing neighbourhood globally with an 800-percent jump in activity. Its selling point? Walking distance from one of the world’s most visited archaeological sites, as well as the state-of-the-art Acropolis museum. Hundreds of apartments in Koukaki’s ageing concrete buildings are now on offer.

Rents have doubled and entire families of tenants have been pushed out by cash-hungry owners, said Dionysopoulou. “Three families I know have already left, and we are currently trying to find a home for a fourth,” she told AFP. [..] Dionysopoulou is not alone in feeling that the Airbnb phenomenon, as in other major cities, has run amok. Greek authorities this year belatedly introduced registration and tax rules for Airbnb homeowners. According to Angelos Skiadas, head of Greece’s tenant association, the home-sharing craze has even spread to far-off Athens suburbs with no tourist interest. “Homeowners think this is a cure-all that will solve their problems for life. Many use Airbnb as a threat (to raise the rent),” he said.

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More of my friends leave every single day.

Hunt For Bogus Asthma Cure Threatens Pangolins (O.)

One of nature’s most remarkable creatures, the pangolin, is being driven to extinction as hunting and trafficking have soared in recent years. Studies have discovered that hundreds of thousands of these distinctive, scaly animals are now being killed every year to satisfy markets in Asia, making it the most trafficked and poached mammal on Earth. The pangolin is hunted for its meat – and also for its scales, which are believed to have important medicinal properties as cures for poor circulation, skin complaints and asthma. Last January, authorities in Hong Kong seized 8.3 tonnes of pangolin scales in a shipment from Nigeria bound for Vietnam.

It was one of the largest confiscation of the animal’s scales ever made and its weight suggests that around 13,800 animals died to make up the consignment. In addition, in February, Malaysian customs officers seized 1,800 boxes that contained 30 tonnes of frozen pangolins and pangolin parts. Ironically, the confiscation was made only a few days before World Pangolin Day was held on 16 February this year. “We simply do not know if pangolins can withstand this level of hunting,” said Daniel Ingram of University College London. “The problem is compounded by the fact we do not have reliable pangolin population estimates.” Ingram is lead author of a paper on pangolin trafficking that has just been published in the journal Global Ecology and Conservation.

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Feb 232019
 


Henri Rousseau The sleeping gypsy 1897

 

A Fed Pivot, Born Of Volatility, Missteps, And New Economic Reality (R.)
Get Out Of The Bond And Stock Market, Put Your Money In Cash – Stockman (MW)
Global Sovereign Debt Will Top $50 Trillion This Year (ZH)
Mueller Won’t Deliver Report To DOJ Next Week (Hill)
Schiffting to Phase 2 of Collusion (Strassel)
‘Even Nixon Wasn’t Like Him’: Trump’s Bid To Upend Russia Inquiry (G.)
Great Investigations (Kunstler)
Theresa May Must Go In Three Months, Cabinet Ministers Say (G.)
UK Food Imports From EU Face ‘£9bn Tariff Bill’ Under No-Deal Brexit (G.)
Dianne Feinstein Snaps At Group Of Environmental Activist Children (ZH)
The Cold War in Tech (Barron’s)
Silicon Valley Wants In On It Pair Of Gene-Edited Chinese Twins (ZH)
China Blocks 17.5 Million Plane Tickets Due to Lack of ‘Social Credit’ (Ind.)

 

 

The folly of our times. The Fed has completely destroyed America’s market system, and thus its economy, and they are treated as wise men. There are no markets left, there are no pensions left, there’s only the Fed.

A Fed Pivot, Born Of Volatility, Missteps, And New Economic Reality (R.)

The Federal Reserve’s promise in January to be “patient” about further interest rate hikes, putting a three-year-old process of policy tightening on hold, calmed markets after weeks of turmoil that wiped out trillions of dollars of household wealth. But interviews with more than half a dozen policymakers and others close to the process suggest it also marked a more fundamental shift that could define Chairman Jerome Powell’s tenure as the point where the Fed first fully embraced a world of stubbornly weak inflation, perennially slower growth and permanently lower interest rates. Along with Powell’s public comments, Fed minutes, and other documents, the picture emerges of a central bank edging towards a period of potentially difficult change as it reviews how to do business in light of that new reality.

[..] Concern that years of solid economic growth and falling unemployment would inevitably rekindle inflation or threaten financial stability have been a staple of Fed debates, but had largely disappeared by the Fed’s Dec. 18-19 meeting, according to a review of Fed meeting minutes and officials’ public statements. It was a conclusion hiding in plain sight. After a year when the Trump administration pumped around $1.5 trillion of tax cuts and public spending into a full employment economy, the Fed in 2018 would miss its 2 percent inflation target yet again.

“I hate to say we were right,” Dallas Federal Reserve president Robert Kaplan told reporters on Jan. 15 in Dallas. “But we have been warning for quite some time that…the structure of the economy has changed dramatically.” Technological innovation, globalization, and the Fed’s commitment to its inflation target all held down prices, and “those forces are powerful and they are accelerating,” he said.

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Dave Stockman, too, keeps referring to markets. Stop it. A market has a definition, a function, based one-on-one on price discovery. And that simply ceased to exist.

Get Out Of The Bond And Stock Market, Put Your Money In Cash – Stockman (MW)

[..] thus far the market has bounded higher after shaking off a withering decline toward the end of 2018 that culminated in the worst Christmas Eve drop on record. The Dow Jones Industrial Average is up 19.4% since that time, breaking above a psychologically significant at 26,000 level on Friday, while the S&P 500 has advanced 19.5%, the Nasdaq Composite has risen 22.4% and the small-capitalization focused Russell 2000 index has returned more than 25%, according to FactSet data. Much of that gain has been underpinned by a Fed that has signaled that it is likely to slow a reduction of its $4 trillion balance sheet as soon as this year and a willingness to wait before increasing borrowing costs further. Both of those plans had been cited as a source of friction for markets.

However, Stockman has said a yawning deficit and an economic expansion in the U.S. that is making history for its length are signs that a reckoning my be at hand. He says easy-money days cannot last and has ramifications for all, arguing that the Fed must normalize its policy, at some point: “My point is, it’s finally catching up with us. We’ve gotten by with this for 30 years ‘cause the Fed has been monetizing the debt — buying bonds hand over fist. When Greenspan arrived, the balance sheet of the Fed was $200 billion; at the peak it was $4.5 trillion,” he told Cavuto, referring to former Fed boss Alan Greenspan. “We need to wake up and smell the roses here. We’re in year 10 of the longest business expansion in history.

We’re increasing the deficit at the very wrong time. They say it’s $900 billion this year it’ll be $1.2 trillion of borrowing at the same time that the Fed is beginning to shrink its balance sheet, which means they’ll be dumping bonds into the market,” he said.

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All that new debt and still pension systems are being fully gutted.

Global Sovereign Debt Will Top $50 Trillion This Year (ZH)

It has been one week since the US Treasury revealed that the national debt had topped $22 trillion (only 11 months after it had topped the $21 trillion threshold). And as the US budget deficit shows no signs of shrinking thanks to the Trump tax cuts and the death of the Obama-era budget sequester that has allowed for an expansion of federal spending (with more presumably on the way once the Trump infrastructure plan comes into focus), S&P warned on Thursday that worldwide sovereign debt could reach $50 trillion this year. According to Reuters, S&P predicted that governments will borrow some $7.78 trillion this year, up 3.2% since 2018 (the US will constitute more than $1 trillion of that all by itself). That’s a 6% increase in the total debt pile from the year before.

Most of this borrowing will be rolling over long-term debt. “Some 70 percent, or $5.5 trillion, of sovereigns’ gross borrowing will be to refinance maturing long-term debt, resulting in an estimated net borrowing requirement of about $2.3 trillion, or 2.6 percent of the GDP of rated sovereigns,” said S&P Global Ratings credit analyst Karen Vartapetov. Governments, like corporations and individuals, took advantage of low interest rates around the world to step up borrowing in the wake of the financial crisis. Now, with borrowing costs expected to rise, these long-term burdens will become more burdensome to service. And with central banks slowly beginning to allow their inflated balance sheets to run off…

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No collusion.

Mueller Won’t Deliver Report To DOJ Next Week (Hill)

Special counsel Robert Mueller will not deliver his report to the Justice Department on Friday or next week, a Justice Department official told The Hill. The news comes amid broad speculation that Mueller’s probe into Russia’s electoral interference is wrapping up, with several news outlets reporting Wednesday that newly confirmed Attorney General William Barr was preparing to receive Mueller’s final report as soon as next week. The highly anticipated report is expected to cap off a sprawling, nearly two-year investigation into Russia’s attempts to meddle in the 2016 presidential election, a probe that has ensnared multiple former Trump campaign officials and associates.

Next week is already slated to be a busy week in Washington, with former longtime Trump lawyer Michael Cohen appearing for testimony on Capitol Hill and several other major hearings and votes set to take place. President Trump is also slated to travel to Vietnam next week for his second summit with North Korean leader Kim Jong Un, which is scheduled for Wednesday and Thursday. It remains unclear when Mueller will ultimately wrap up and submit his final documentation, though Friday’s news indicates the end of the investigation is at least a week away.

Mueller has been investigating Russian interference and potential coordination between the Trump campaign and Moscow since May 2017, weathering constant attacks from Trump, who views the investigation as a “witch hunt” and has long denied allegations of collusion between his campaign and the Kremlin. In the course of his investigation, Mueller has unveiled charges against more than two dozen Russians for hacking Democratic emails and committing fraud in an elaborate plot to use social media to meddle in the election. The special counsel has also charged six Trump associates with making false statements, illegal foreign lobbying, financial violations and other crimes. However, none of the charges have alleged a conspiracy between the campaign and the Russians to interfere in the election.

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“No acknowledgment that Mr. Schiff & Co. for years have pushed fake stories that accused innocent men and women of being Russian agents. No relieved hope that the country might finally put this behind us. Just a smooth transition—using Russia as a hook—into Mr. Trump’s finances. Mueller who?”

Schiffting to Phase 2 of Collusion (Strassel)

There’s been no more reliable regurgitator of fantastical Trump-Russia collusion theories than Democratic Rep. Adam Schiff. So when the House Intelligence Committee chairman sits down to describe a “new phase” of the Trump investigation, pay attention. These are the fever swamps into which we will descend after Robert Mueller’s probe. The collusionists need a “new phase” as signs grow that the special counsel won’t help realize their reveries of a Donald Trump takedown. They had said Mr. Mueller would provide all the answers. Now that it seems they won’t like his answers, Democrats and media insist that any report will likely prove “anticlimactic” and “inconclusive.” “This is merely the end of Chapter 1,” said Renato Mariotti, a CNN legal “analyst.”

Mr. Schiff turned this week to a dependable scribe—the Washington Post’s David Ignatius—to lay out the next chapter of the penny dreadful. Mr. Ignatius was the original conduit for the leak about former national security adviser Mike Flynn’s conversations with a Russian ambassador, and the far-fetched claims that Mr. Flynn had violated the Logan Act of 1799. Mr. Schiff has now dictated to Mr. Ignatius a whole new collusion theory. Forget Carter Page, Paul Manafort, George Papadopoulos—whoever. The real Trump-Russia canoodling rests in “Trump’s finances.” The future president was “doing business with Russia” and “seeking Kremlin help.”

So, no apologies. No acknowledgment that Mr. Schiff & Co. for years have pushed fake stories that accused innocent men and women of being Russian agents. No relieved hope that the country might finally put this behind us. Just a smooth transition—using Russia as a hook—into Mr. Trump’s finances. Mueller who? What’s mind-boggling is that reporters would continue to take Mr. Schiff seriously, given his extraordinary record of incorrect and misleading pronouncements. This is the man who, on March 22, 2017, helped launch full-blown hysteria when he said on “Meet the Press” that his committee already had the goods on Trump-Russia collusion. “I can’t go into the particulars, but there is more than circumstantial evidence now,” Mr. Schiff declared then. Almost two years later, he’s provided no such evidence and stopped making the claim..

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Perhaps even more than politicians, it’s the media that will keep the collusion tale alive. They wouldn’t know how to make money anymore if they didn’t.

‘Even Nixon Wasn’t Like Him’: Trump’s Bid To Upend Russia Inquiry (G.)

It was yet another bombshell report for a president already ensnared in multiple investigations against his campaign, administration and family members. This time it had to do with hush money paid to women to silence them from speaking about alleged affairs they had with Donald Trump. According to a New York Times report published this week, Trump asked Matthew Whitaker, his controversial acting attorney general, if he could install a loyalist at the helm of the investigation into the hush money.

Although Whitaker declined Trump’s request, the story has raised fresh questions over whether the president was seeking to obstruct justice and how the reported move fits into a broad pattern of Trump attempting to interfere with an investigation concerning himself. Since taking office, Trump’s fixation on the federal inquiry into Russian interference in the 2016 election – and potential collusion between his campaign and Moscow – has spurred a series of actions that could now imperil his presidency and prospects of a second term.

From high-level firings to public misstatements, Trump’s repeated steps to undermine the investigations that have clouded his two years in office paint a picture of a president who is his own worst enemy, legal experts say. “It is quite clear from all the evidence that the president has had the intent to obstruct this investigation,” said Andy Wright, a former associate counsel to Barack Obama and the founding editor of the legal blog Just Security. “It’s been in plain sight.” “It’s a fundamental abuse of power for the president to be trying to shut down an investigation in which he has a personal stake – both as a potential target himself and his political allies and family members,” he added.

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Jim stays on message. I changed the headline from Great Expectations to Great Investigations.

Great Investigations (Kunstler)

Meanwhile, their antics may be eclipsed by the now inevitable inquiry around the misdeeds carried out by public officials in Act I of the show: the Russia Collusion Ruse. Based just on the current Andy McCabe book tour, there will be an awful lot to get to, and it is liable to be far more compelling than the nonsense conjured up by the Three Stooges. Mr. McCabe, in his quest to hand off the hot potato of culpability to his former colleagues, and to sell enough books to pay his lawyers’ retainers, has neatly laid out the case for his orchestrating a coup d’etat within the FBI. It’s an ugly story, and it’s all out there now, like so much spaghetti hurled against the wall, and it won’t be ignored.

There are many other spaghetti wads already plastered on that wall ranging from Hillary Clinton’s Fusion GPS hijinks, to Loretta Lynch’s written assurances to the Clinton campaign that the email server matter would be dropped, to the rather complete failure of the FISA process, and much much more that needs to be ventilated in a court of law. I suspect that Barack Obama and his White House confidents will enter the picture, too, sooner later, and to the great dismay of his partisans who do not want to see his legacy tarnished. Whatever your view of all these dark events, it would be pretty awful for the country to have to see him in a witness chair, but it may be unavoidable. Ditto Hillary, who is liable to go all Captain Queeg-y when she finally has to answer for her campaign’s turpitudes.

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Can both major parties in Britain dissolve in just 4 weeks time?

Theresa May Must Go In Three Months, Cabinet Ministers Say (G.)

Cabinet ministers will make it clear they believe Theresa May should step down after the local elections in May and allow a new leader to deliver the next phase of the Brexit negotiations, the Guardian understands.Senior figures in government have suggested they want the prime minister to leave shortly after the first phase of the Brexit negotiations finishes – or risk being defeated in a vote of no confidence at the end of the year. May wants to stay in place for long enough after Brexit to secure a political legacy beyond the fraught negotiations. But some ministers believe she should announce the timeline for her departure “on a high” after the local election results, paving the way for a Conservative leadership contest over the summer.

Brexiters in the cabinet are keen to see a new leader take over for the next stage of the negotiations with the EU, which May has already pledged will involve more active involvement for politicians rather than advisers. The hardening mood among cabinet ministers on the timeline for her departure will place further pressure on May before a critical week of Brexit talks and votes amid a febrile climate in Westminster. On Thursday the Guardian revealed that remainer ministers emboldened by the departure of three MPs to the Independent Group (TIG) were threatening to rebel against her leadership to prevent a no-deal outcome – daring her to sack them.

And in a fresh blow to May, three cabinet ministers publicly say they would back moves to delay Brexit if she fails to get her deal through parliament. In a joint newspaper article, Amber Rudd, the work and pensions secretary, David Gauke, the justice minister, and the business secretary, Greg Clark, say they want to ensure the UK does not crash out of the EU without a deal on 29 March. And they insist they are prepared to defy the prime minister and join those MPs pushing for an extension to article 50 if there is no significant progress next week.

Writing for the Daily Mail on Saturday, they argue that a no-deal Brexit would wreck the country’s economy and put its security at risk. “If there is no breakthrough in the coming week, the balance of opinion in parliament is clear – that it would be better to seek to extend article 50 and delay our date of departure rather than crash out of the European Union on 29 March,” they write. “It is time that many of our Conservative parliamentary colleagues in the ERG recognised that parliament will stop a disastrous no-deal Brexit on 29 March. If that happens, they will have no one to blame but themselves for delaying Brexit.”

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Both May and Brussels appear to think they stand to gain from a no-deal Brexit. Maybe that makes it more likely than we think.

UK Food Imports From EU Face ‘£9bn Tariff Bill’ Under No-Deal Brexit (G.)

The government is expected next week to spell out its plan to mitigate a potential £9bn food-price shock from a no-deal Brexit, as analysts predict the cost of staples such as beef, cheddar cheese and tomatoes could soar. With just over a month until the Brexit deadline, the Department for International Trade is expected on Monday to publish a list of new import taxes, or tariffs, that will apply to 5200 products, including food and clothing, should the UK crash out of the EU without a deal. The relationship with the EU is key to the price of food because nearly one third of the food eaten in the UK comes from the bloc. At this time of year the situation is more acute because, with UK produce out of season, 90% of lettuces, 80% of tomatoes and 70% of soft fruit is sourced from, or via, the EU.

“Food and drink tariff rates will be higher than those in any other supply chain,” says Richard Lim, chief executive of consultancy firm Retail Economics. “All stages within the food supply chain will experience increased costs, with retailers hit disproportionately as processed goods attract higher duties than raw materials and semi-processed goods.” In 2017 the UK bought about £34bn of groceries from the EU, which arrived on supermarket shelves and at factory gates without being hit by customs duties or other trade costs. But if the UK leaves the EU without a deal, both will fall back on the World Trade Organisation’s “most favoured nation” tariffs, which means they must pay import duties on each other’s trade. On that basis the UK’s 2017 EU food imports would come with a hefty £9.3bn tariff bill on top, according to Retail Economics’s analysis.

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Having been there for 30 years is not exactly a positive thing, given how much things have deteriorated in that time. Hand it over to the kids, they couldn’t possibly do worse.

Dianne Feinstein Snaps At Group Of Environmental Activist Children (ZH)

Armed with an impassioned letter and memorized talking points, the children belonging to three Bay Area environmentalist groups (Sunrise Bay Area, Youth Versus the Apocalypse, and Earth Guardians San Francisco) implored Feinstein to support the Green New Deal. The Senator responded: “Ok, I’ll tell you what. We have our own Green New Deal.” The video skips forward to the children warning Feinstein that “some scientists have said that we have 12 years to turn this around” – referring to a conclusion by a recent UN-backed report that man-made climate change will become irreversible if carbon emissions are not significantly reduced over the next 12 years (which Ocasio-Cortez turned into “the world is gonna end in 12 years if we don’t address climate change”).

“It’s not gonna get turned around in 10 years,” responded Feinstein – drawing a harsh rebuke from an angry chaperone. “Senator if this doesn’t get turned around in 10 years you’re looking at the faces of the people who are going to be living with these consequences,” said the adult – as one of the children chimed in “the government is supposed to be for the people and by the people and for all the people!” Feinstein was not amused. I’ve been doing this for 30 years. I know what I’m doing. You come in here and you say “it has to be my way or the highway.” “I don’t respond to that,” shot back Feinstein. “I’ve gotten elected. I just ran. I was elected by almost a million vote plurality. And, I know what I’m doing. So, you know, maybe people should listen a little bit. -Dianne Feinstein

One kid shot back “I hear what you’re saying but we’re the people who voted you. You’re supposed to listen to us, that’s your job.” “How old are you?” challenged Feinstein. “I’m 16. I can’t vote,” said the girl. “Well you didn’t vote for me,” replied the Senator.

https://twitter.com/sunrisemvmt/status/1099075460649107458

Read more …

The new fight for control of the world. Orwell International Inc.

The Cold War in Tech (Barron’s)

Cisco Systems, an early Silicon Valley success story, has become one of the nation’s top tech exporters. Today, roughly half of the networking giant’s sales come from outside the U.S. As foreign countries sought to catch up with U.S. connectivity, Cisco helped plug them in. But a wave of nationalist thinking has put Cisco—and most of its peers—in an uncomfortable position. Earlier this month, Cisco CEO Chuck Robbins described the current climate as “one of the more complex macro, geopolitical environments that I think we’ve seen in quite a while with all the different moving parts.” It’s likely to get worse.

While investors are cheering indications of progress being made toward a resolution of trade issues between China and the U.S., the battle for tech supremacy between the two global superpowers shows few signs of abating. Even as the White House was negotiating on trade with Beijing, it was also contemplating a U.S. ban of telecommunications equipment from Chinese companies like Huawei Technologies, essentially China’s version of Cisco. As President Donald Trump was tweeting about the importance of 5G on Thursday, Secretary of State Mike Pompeo was pushing U.S. allies to ditch Huawei. This is a fight that is not going to end anytime soon. For years, U.S. officials have worried about Chinese equipment being used to infiltrate U.S. networks and businesses for possible espionage and theft of intellectual property.

Even a resolution of the trade war won’t quell those fears. “The perception is that too much of the information- and communication-technology supply chain is centered on China,” says Paul Triolo, who focuses on global technology policy issues for risk consulting firm Eurasia Group. “If we are in a conflict and using infrastructure built by China, they could theoretically hit a button and shut off everything.” “After 30 years of saying companies should optimize supply chains and move some abroad, now we are saying it’s a security concern,” he says. “Adjusting to that is jarring.”

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The sort of thing you know someone will always try, no matter what laws are invented. And it’s not about Silicon Valley, it’s about the CIA through big Tech.

Silicon Valley Wants In On It Pair Of Gene-Edited Chinese Twins (ZH)

A pair of Chinese twins who were gene-edited for resistance to HIV may also have ‘supercharged’ brains, along with possible resistance to age-related cognitive diseases such as Alzheimer’s. In a controversial experiment led by Chinese scientist He Jiankui, the embroys of seven couples had their genes “edited” using a tool known as CRISPR. By removing a gene called CCR5, Jiankui sought to create a natural immunity to HIV – which requires CCR5 to enter blood cells. Based on new research, however, Jiankui may have also left the twins, Lulu and Nana, with improved memory and enhanced cognition, according to MIT Technology Review. They may also enjoy some degree of protection from Alzheimer’s Disease and other maladies which are rapidly being linked to chronic inflammation, as some groups of mice without CCR5 – or who have been given CCR5 inhibitors, experience less severe dementia or Alzheimer’s symptoms.

“The answer is likely yes, it did affect their brains,” says UCLA neurobiologist Alcino J. Silva, whose lap discovered a link between CCR5 and the brain’s ability to form new connections. “The simplest interpretation is that those mutations will probably have an impact on cognitive function in the twins,” says Silva, adding that the exact effect on the girls’ cognition cannot be predicted, which is “why it should not be done.” Jiankui’s human experiments drew harsh rebuke after news of Lulu and Nana’s birth in late October or early November, and has reportedly been fired from his position at the Southern University of Science and Technology (SUSTech) in Shenzhen, China. Jiankui says there are more gene-edited babies on the way.

Silva tells the MIT Technology Review that “because of his research, he sometimes interacts with figures in Silicon Valley and elsewhere who have, in his opinion, an unhealthy interest in designer babies with better brains.” When word of Jiankui’s experiment went public, Silva says he immediately questioned whether enhanced cognition was the real goal of the experiment. “I suddenly realized—Oh, holy shit, they are really serious about this bullshit,” said Silva. “My reaction was visceral repulsion and sadness.” He Jiankui acknowledged that he knew about the potential cognitive benefits of removing the CCR5 gene discovered by the UCLA team during a Q&A session, though he said “I am against using genome editing for enhancement.”

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Brave new world: gene-edited superhumans controlled through embedded technology. That Orwell guy appears smarter by the day.

China Blocks 17.5 Million Plane Tickets Due to Lack of ‘Social Credit’ (Ind.)

The Chinese government blocked 17.5 million would-be plane passengers from buying tickets last year as a punishment for offences including the failure to pay fines, it emerged. Some 5.5 million people were also barred from travelling by train under a controversial “social credit” system which the ruling Communist Party claims will improve public behaviour. The penalties are part of efforts by president Xi Jinping‘s government to use data-processing and other technology to tighten control on society. Human rights activists warn the system is too rigid and may lead to people being unfairly blacklisted without their knowledge, while US vice-president Mike Pence last year denounced it as “an Orwellian system premised on controlling virtually every facet of human life”.

Authorities have experimented with social credit in parts of China since 2014. Points are deducted for breaking the law, but also, in some areas, for offences as minor as walking a dog without a lead. Offences punished last year also included false advertising and violating drug safety rules, said China’s National Public Credit Information Centre. It gave no details of how many people live in areas with social credit systems. [..] The ruling party is spending heavily to roll out facial recognition systems, and human rights activists say people in Muslim and other areas with high ethnic minority populations have been compelled to give blood samples for a genetic database. Those systems rely heavily on foreign technology, which has prompted criticism of US and European suppliers for enabling human rights abuses.

Read more …

Feb 112019
 


Johannes Vermeer Woman holding a balance 1662-63

 

 

The problem is, of course, that not only is economics bankrupt but it has always been nothing more than politics in disguise.
-Hazel Henderson

It’s often hard to understand how people can be aware of something but then fail to link it to a perfectly logical next step, or even multiple steps, and see where it fits in a larger scheme. There really are people out there, believe it or not, who look at economic and political developments over the past decade in any particular western country and believe they are unique to that country.

In reality, while things may play out slightly differently from one place to the other, the core causes of what’s been unfolding are the exact same ones in every single location. The reactions of incumbent politicians and economics has been the same as well: massage the numbers and the media, keep the rich and powerful happy, and make sure you and yours are on the ‘right side’ of the line.

In France, the main complaint that the Yellow Vests movement has now taken into its 13th consecutive weekend is crystal clear: people can’t pay their bills anymore. In the UK, austerity has demolished wages, social care, the NHS and much else. In the US, many millions of Americans can’t afford a $400 emergency payment, have ever scarcer access to healthcare and live from paycheck to paycheck.

Rinse and repeat for every western nation. The storylines vary somewhat, but they all tell the same tale, they could be, they are, chapters in the same book. And it makes one think if people are not connecting them.

Renowned French philosopher Michel Onfray summarizes Emmanuel Macron’s ongoing Yellow Vests (Gilets Jaunes) problem in these words: “Macron is trying to explain that there is not enough liberalist Europe in our lives, while the Gilets Jaunes are saying back to him that there is too much – not too much Europe, but too much liberalism.”

That is true in France, and it is also true in the UK, US and many other countries. People may not see liberalism as their problem, or even know, let alone understand the term, but what they do understand is they can’t pay their bills anymore. And Macron’s response, just like that of Washington and London, is more neoliberalism, or, again in Onfray’s words:

“This is an order that is strong against the week, as we can see on the streets, and weak against the strong”. [..] “The [liberal] Maastricht state is “cruel to those who carry the burdens of globalization” and “simply by declaring their poverty, these people have been ideologically criminalized.”

The sign in the picture below says: “We live in a world where those who make 100,000 a month convince those who make 1,800 that everything is going wrong because of those who live on 535 euro. And it works… (thanks to the media)” That’s what the Yellow Vests are about.

 


©Reuters/Gonzalo Fuentes

 

Again, it’s not about the term (neo-)liberalism, and it’s not some ideological question or fight, it’s about people not being able to pay their bills, and about politicians leaving them hanging all alone in a freezing wind. Nor is it a left against right issue. Western countries only have formerly left parties left; people who can’t pay their bills have been left to fend for themselves, no matter what they vote, and they finally understand that.

In Italy, traditional parties were all but wiped out to be replaced with the Lega and M5S. In France, ditto, but there Macron was the ‘new’ guy. In Germany, Merkel still holds the CDU/CSU ship somewhat steady, but she’s a goner and the right rises.

In Britain, there’s still only the two main parties, but they’re already history. It makes no difference what Jeremy Corbyn does or doesn’t do, he’ll be crushed by the betrayal Tony Blair inflicted on the nation in name of the same Labour Party now ‘led’ by Corbyn. While the Tories, like the Democrats in the US, rely on having taken over the media.

But it’s still a bit bewildering to see Andrew Rawnsley, the Observer’s “award-winning chief political commentator”, no less, write an entire article about what’s ailing British politics without linking this to the rest of the world, where the exact same issues play out. Of course it’s obvious that Brexit has become a divisive issue, not only in UK politics but also there, and not just between parties but also within them.

But if anything, Brexit is not a cause but a mere symptom of the British variety of the Great Discontent. The cause is that in Britain, too, people can’t pay their bills anymore. One country gets Trump, the next one Yellow Vests, and the third gets Brexit.

 

Why The Sickly Ugly Sisters Of UK Politics Deserve To Suffer The Splits

It is true that the big two can still gather up a lot of votes. After decades of decline in their combined vote share, it blipped up at the last election. But I don’t think that truly indicated renewed enthusiasm for either of them. It was a false positive induced by an electoral system that compels many voters to make a forced choice between the unappetising and the inedible.

It doesn’t mean that these nose-holding voters like what’s put before them. The current choice on offer is so disdained that, when pollsters ask who would make best prime minister, Theresa May and Jeremy Corbyn are regularly beaten into second and third place by Neither.

More than half of the electorate say their views are not properly represented by the existing political parties. Many politicians can’t stand the parties they represent. Some actively and publicly rage about what has become of them. I cannot recall a period in my lifetime when so many MPs have expressed so much disgust and despair with the state of their own parties.

Mr. Rawnsley manages to avoid any mention of anything at all existing outside of the British borders in the entire article, other than chiding Corbyn for failing to condemn Maduro. And you’re right, if that is the extent of your media, or even that of the formerly left-leaning bit, you may need an extra decade or so to figure out what the rest of the world already knows.

 

In the US, Trump replaced and/or took over the Republican Party, while Ocasio-Sanchez -AOC- is the only strong voice for the Democrats. Sure, she’s 29 and can’t run for the White House, but given that the alternative is Pelosi/Schumer and much more of that exact same cabal, anyone with presidential dreams had better get her blessings.

And sure, her Green New Deal/Dream can easily be dismissed as crazy, but pray tell what the difference is between how the Green New Deal might be financed, and how the Federal Reserve has financed its QE schemes. Perhaps the big difference is who profits; in one instance, the banks, in the other, society at large.

Or from a different perspective, there, too, AOC is like Trump: first, you start big and after, you see what can be done. Her version of the art of the deal. Besides, she has a plan, and nobody else has one. Except perhaps for Bernie, but his credibility was fatally wounded by letting the DNC waltz all over him in 2016.

And his age is not going to help: if you’re really fed up with what’s there because it’s disappointed you three ways to Sunday and now you can’t pay your bills, you’re not going to vote for grandpa, you’re going to go for someone young. Still, if Bernie hooks up with Ocasio, he may have a shot.

For all the others in the already crowded field, it’s what have you done for me lately, and they all either haven’t done dick all or they can’t string two words together without looking like someone wrote it all down for them. Look for a whole bunch from the Clinton/Wasserman mold (i.e. every candidate so far) to support the Green New Deal, but only to sabotage it, and Ocasio, at the first available opportunity.

 

If people already find the very large and very obvious political changes too much to comprehend, here’s some awkward news for you, and it’s not just that the media vs social media fight must inevitably lead to an ever stronger tsunami of ‘news’ overkill. Though that’s a big one: the media once upon a time reported the news, an outdated business model; today they don’t report the news, they manufacture it.

It’s more profitable because people are more gullible and/or they’re drowning in the giant overkill waves. I like that tsunami metaphor for news dissemination: people think social media will work to their advantage, like when the waters recede after a quake, that they have more control over their news. But then it all comes back in one big go and they’re completely lost.

The main upcoming event in media and politics won’t be the Great Political Discontent, it will be the economic one. Those who can’t pay their bills today will be the first victims of the massaged economic numbers finding themselves subject to gravity once again. Central banks won’t be able to prop up the zombies anymore, or the facade. The media will turn against the prevailing order when they deem it profitable. Or, rather, in a desperate attempt at survival.

What once was the middle class will join the various Yellow Vest groups around the world. So will whatever it is you call what took the place of the middle class. Certainly after their housing bubble mortgages become eligible for margin calls. Then all that’s left will be the very rich and the very poor. It’ll be back to the Middle Ages. Just with 20 times as many people. And with over half the wildlife gone, and the arable land, and 80% of insects gone since 1980 alone.

But yeah, we can also pretend that any problem we encounter can only possibly be a temporary blip, and there’s sunshine on the way around the corner, not pitchforks. Still, I’m pretty sure it’s precisely because we do nothing but pretend, that we gather all the problems in the first place that make one think of pitchforks, if even so briefly.

And I’m also pretty sure that we’re a lot less smart than we tell ourselves we are considering we kill off that without which we have zero chance of survival, and considering we let people starve in the richest human society the world has ever seen (make that: will ever see), but we still have trouble seeing our own noses, let alone following them.

We’re such blind masters of pretence that we hardly ever noticed the Great Discontent entering our nations, our communities and our homes. What then are the odds we will perceive the arrival of the Great Unraveling?

 

 

Dec 232018
 
 December 23, 2018  Posted by at 5:52 pm Primers Tagged with: , , , , , , , , , , , ,  


Diego Velázquez The Spinners 1655-60

 

Dirk Kurbjuweit, deputy editor-in-chief of Germany’s Der Spiegel magazine for the past 4 years, unwittingly put his foot a mile deep in his mouth this week when he reacted to a letter written by US Ambassador to Berlin Richard Grenell. His reaction presents perhaps the most perfect example of the downfall of news, journalism, the media in general, that we’ve seen so far. Most perfect among very stiff competition.

After Der Spiegel itself this week ‘outed’ its award-winning star reporter, Claas Relotius, as someone who had made up many of his lauded articles from scratch, Grenell suggested the magazine, and especially its editorial staff, shouldn’t think they can get away with putting all the blame on just this one guy. He tweeted:

We value policy criticism. We love a free press. But @Spiegel literally fabricated stories saying people (Americans) were racist & xenophobic. They made up events, details, & lies – and no editor checked the stories. Every real journalist should be outraged by this.

And he wrote a letter to Der Spiegel, albeit addressed at the ‘wrong’ editor, Steffen Klussman, who won’t be in the post until after Jan. 1:

The recent revelations of completely fabricated stories, completely fictional people and fraudulent details in Spiegel over the last seven years are very troubling to the US Embassy. These fake news stories largely focused on US policies and certain segments of the American people. It is clear we were targeted by institutional bias and we are troubled by the atmosphere that encouraged this recklessness.

While Spiegel’s anti-American narratives have expanded over the last years, the anti-American bias at the magazine has exploded since the election of President Trump. We are concerned that these narratives are pushed by Spiegel’s senior leadership and reporters are responding to what the leadership wants.

This is where Dirk Kurbjuweit’s foot enters his mouth, stage left, and starts its long journey down:

It is true that one of our reporters in large part fabricated articles, including reports from the United States. We apologize to all American citizens who were insulted or denigrated by these articles. We are very sorry. This never should have happened. In this case, our safeguarding and verification processes failed. We are working hard to clarify these issues and improve our procedures and standards.

I would, however, like to counter you on one point. When we criticize the American president, this does not amount to anti-American bias – it is criticism of the policies of the man currently in office in the White House. Anti-Americanism is deeply alien to me and I am absolutely aware of what Germany has the U.S to thank for: a whole lot. DER SPIEGEL harbors no institutional bias against the United States.

Of course, first of all, Grenell is right, if you let someone write fake stories for 7 years and your editors, which included Kurbjuweit himself, don’t catch one single lie, it looks like you’re letting the fabrications ‘slip through’ on purpose. As Grenell implies, it looks like the entire magazine is/was trying to fabricate the news, not report on it.

But that’s not where Kurbjuweit’s foot is in his mouth. That comes in the second paragraph . Where he effectively says that criticizing America and Americans, including through fully fabricated stories, does not constitute an anti-American bias. Instead, he says, Der Spiegel simply suffers from Trump Derangement Syndrome. In other words, not an anti-American bias, but an anti-Trump bias.

And that, in his view, is apparently fine. And though it is of course not, certainly for an editor of a magazine that has (make that had) a reputation to uphold, who can really blame him? In the American press, all he sees is Trump Derangement Syndrome all the time, in at least 90% of the media. So how can anyone blame a German editor for doing what the New York Times and CNN do 24/7?

The problem with all of this obviously is that all these news outlets are supposed to report the news, and none of them do anymore. They ‘report’ the opinions of their editors and ‘journalists’, and if these people don’t like whoever it is the American people elect as their president, it’s open season.

American media has made it acceptable for foreign media to write fake articles about the US president, which means ridicule of the Office of the President is fine too, and thereby the process by which he was elected. Re-read Kurbjuweit’s statement, that is what he says.

This is a sort of new normal that may well be the main legacy of 2018. It’s where the surge of social media and the internet in general have led us. In the process, they’ve swallowed the truth whole, and we may never see it again.

The truth is not a winning proposition. Fabricating stories and narratives and using them to string readers and viewers along like a modern version of the Pied Piper is a much bigger winner than the truth, and they’re all waking up to this new reality.

 

Der Spiegel’s response to being exposed as liars is to pretend to be open about it, but only by blaming one individual, while sparing the editors who let him roam free for 7 years.

The Guardian, which ran a fabricated story about meetings between Paul Manafort and Julian Assange in London’s Ecuadorian embassy a few weeks ago and was also exposed, has chosen a different approach: they attempt to smother the truth in silence. Both the writers of the story and editor-in-chief Kathy Viner, responsible for publishing blatant lies and fabrications are still on the payroll, there’s been no retraction and no apologies.

But there’s a flipside to this kind of thing. If you try to get away with murdering the truth the way Der Spiegel and the Guardian have done in these two instances, who’s going to read you next time around if they want to know what really happens, and take your words as true? No-one in their sound mind. So it’s necessarily a short term strategy.

Still, while it lasts, it’s profitable. And it’s mighty contagious too. If and when the foreign press no longer feels any qualms about admitting they suffer from Trump Derangement Syndrome, that is because US media have paved that road for them. Before the internet fueled its (dis-)information explosion, this would have been impossible.

It makes you wonder where this will go in 2019. What’s already evident is that you can’t believe your trusted news sources anymore. And it’s not a matter of some articles being true and some not; nothing published by Der Spiegel and the Guardian can be taken for granted as true from here on in, both are done as reliable news sources. Because they’ve been exposed as having lied on purpose, and only once is enough.

Same goes for many of the formerly trusted US MSM. And that should really, really make you wonder where this will take us in 2019. Truth is eroding faster than you can keep up with, and it’s your once trusted voices that lead the erosion. Where are you going to get your news? What and who can you trust?

Here’s a thought: follow the Automatic Earth. And good thing is, you don’t have to like Trump to not like where this is going. We don’t particularly like him either. We just dislike lies and fake news a whole lot more.

 

 

Oct 292018
 
 October 29, 2018  Posted by at 5:11 pm Primers Tagged with: , , , , , , , , , , ,  


Mestre da Família Artés The Last Judgment and the Mass of Saint Gregory 1500-1520

 

It’s been quite a while since I first wrote that I resented the MSM (New York Times, Washington Post, CNN, MSNBC etc etc) for effectively monopolizing the entire discussion about Donald Trump. Don’t remember exactly when I wrote that, do remember Jim Kunstler sent a mail and thanked me for saying it. Because he felt- and feels- the same way.

The 24/7 daily Trump bashing machine that was unleashed in late 2015/early 2016 meant that people like us had a choice of criticizing Trump where he needed to be criticized, but that would put us in the MSM camp, where we don’t want to be. And we don’t want to not criticize him either, because there’s so much that needs scrutiny.

A third choice would be to not write at all, but hey, we’re writers. And so we’re either Trump-fans, something I’ve been accused of a lot, and I’m sure Jim has too, or we’re Trump haters, depending on what we publish. In reality, of course, we’re neither, but the way the conversation has been built, there’s no neutral ground. You’re either with us or with him.

Today, almost 3 years later, nothing much has changed about this. Other than, as I wrote at a later date, the mass media have become consciously aware that Trump is their money machine. Their financial people started pointing out that posting negative stuff about Trump all the time got them a lot of new readers and viewers and income streams. And so they continued doing it.

Their ‘news’ didn’t have to necessarily be true, or provable, it only had to look as if it could be true, until the next show or article, or the next day. That’s how we got the Russiagate story, which still lacks all evidence. Like a million other narratives, none of which have really gotten anywhere. It doesn’t matter. People who don’t like Trump eat it up. And there’s plenty of those, not in the least because of the picture the MSM has painted. It’s a self-fulfilling prophecy thing.

 

And today, if you take a good look, you can see that the MSM are stuck. Their entire business model over the past 2.5 years has been built on bashing Trump, and now they have to stick with that. This is how they make their money. If their viewers and readers would understand this, then perhaps some of them would wonder: ‘What am I watching here really?’ But they don’t.

There are some who are simply gullible, there are those who fall victim to information overkill and can’t tell black from white anymore, and then there’s still quite a large group who will never like anything Trump does, no matter what. Because.

But that should never be enough for an organization that purports to report only the news, impartial and objective. You can’t publish stuff solely because you know it will be eaten up and make you money. That’s not the news business, that’s entertainment.

Now, I rarely watch TV. When I’m in Greece, where I’ve spent most of my time the past few years, I see none, other than the odd soccer game at a sports bar. But last weekend I flew to Holland, and there I got to see me some CNN. Oh boy. It was when the first dummy bomb package had been reported, and more of them started to spread.

Nobody knew anything about the ‘bombs’ themselves (we still don’t), about motive, about who sent them, none had gone off, they didn’t know if these things could have gone off, nothing at all. But nevertheless CNN labeled the event: ‘Mass Assassination Attempt’. And then, you know, they have all these time slots to fill, so they all yap and yap as if this is something real that they know something about.

 

And then at some point Trump called for civility in the nation. And CNN, sadly and predictably, reacted by agreeing with him. Only to follow that up with: “Trump has to become more civil”. Which may or may not be true, but that was not his point and neither is it mine today.

You see, CNN pulled a perfect bait and switch: While demanding that Trump tone it down in response to his own call for civility, they categorically and emphatically denied that their tone, their ‘news reporting’ must come down too. They didn’t just deny it, they entirely ignore the whole issue. Because according to them, all they do is report the news, you know, objective and neutral, no opinions involved.

After bashing Trump for two years+ they react to his call for a more civil tone by … bashing Trump and ignoring their own role completely. The exact opposite. And then they’re surprised that his reaction to being bashed one more time, again, is to point out that they do, in fact, play a role.

CNN et al paint themselves as victims, as the ones being targeted by Trump (and not even by whoever sent the bombs), completely omitting to what extent they themselves were the ones who targeted Trump. CNN is entirely blind to their own role. They proclaim, and really seem to believe, that they speak for the American people.

But if that were true, Trump would not be president. They may speak for part of the American people, but certainly not ‘the people’. And if they continue in their present ways, they never will. As long as the MSM puts all their chips on making money off of the segment of the American population who despise their president, they only sharpen the divide.

 

Another thing I’ve mentioned before is that with the midterms coming up in a few days, the MSM don’t actually want to impeach Trump, or get rid of him in any other way. They want to continue writing negative stuff about him forever. They want him to maybe lose the midterms, but then to win in 2020. Obama was killing them financially. Now they got their golden goose.

And it’s not Trump who profits from the nation being so divided, or at least not nearly as much as the media does. Trump would like to be appreciated for what he achieves, but when it comes to that, he can’t get a word in edgewise. They can’t risk writing positive stuff about him, it would risk their new business model.

Moreover, after that court ruling that said Trump can’t ban people on Twitter, everyone feels free to call Trump whatever they want, idiot, lunatic, you name it, I even saw Hitler pop up again, and he cannot ban them. Trump is America’s national piñata. While he’s also the President.

And the media say they’re just reporting the news. “Trump calls for civility, but continues his attacks on the media”. Well, the media continue their attacks on him, too. “Trump refuses to acknowledge his rhetoric makes this happen.” So does the MSM rhetoric. “Words Matter”. Indeed, they do. But not only Trump’s words. Everybody’s words.

The MSM have never managed – nor tried- to move beyond the notion that Trump supporters are deplorables. They’re stuck in a time warp. That is what divides the nation. Sarah Sanders was right: the first thing Trump did was to condemn the violence, the first thing CNN did was to blame Trump for it. CNN says that’s not true, they only reported the news. Yeah, 100% objectively.

 

Let’s do a test: when is the last time CNN, or the WaPo, have said anything truly positive about Trump? And I don’t mean three words strung together, but an actual report on for instance jobs and the state of the economy. When is the last time they complimented him, other than perhaps when American rockets landed in some remote and deserted Syrian sandbox?

So you don’t like Trump. And in the MSM you find voices that express your ideas. What you probably don’t realize is that they amplify those ideas as well, and that’s no coincidence. You’re being used by the MSM to prolong their newly-found very profitable anti-Trump rhetoric business model. You’re an easy victim. All they have to do is confirm your thoughts all the time, and tomorrow you’ll tune in for more, and so on.

Or how about this one: There’s so much to blame Trump for, there are so many negative sides to the man, and then the media focus for a long time on a made-up story about collusion with Russians, for which a special counsel with unlimited budget and resources hasn’t found any proof after two whole years. Doesn’t that make you think? Shouldn’t it?

The MSM’s interest is to divide the country, that’s how they make money. If they would write or broadcast positive stories about Trump, which must exist, they would threaten the dividing line that keeps people from talking to each other. Once they do start talking, Trump-bashing will become much less lucrative. They can’t have that.

You don’t need to be a Trump fan to see that, and I’m definitely not, you need to be blind NOT to see it. You’re being played. And what are you going to do when the GOP wins the midterms, despite what you’ve been told would happen, what if there is no blue wave? Are you going to start talking to the other half of the country then, or are you going to dig deeper into the trenches with the MSM? Honest question.