Apr 142018
 
 April 14, 2018  Posted by at 9:54 am Finance Tagged with: , , , , , , , , , ,  


Robert Capa Anti-fascist militia women defending a street barricade, Barcelona 1936

 

US Media Love War More Than They Hate Trump (Khalek)
US Defence Secretary Mattis Says ‘This Was A One-Time Shot’ – For Now (Ind.)
Why Is ‘Bad Guy’ Putin So Popular At Home? (Steve Keen)
Trump’s Actions in Syria Violate US Constitution (Kucinich)
Long Wars (Claire Connelly)
The Deep State Takes A Hostage (Stockman)
Irish High Court Sets Out 11 Questions For ECJ on EU-US Data Transfers (IT)
Mark Zuckerberg’s Testimony Lurched From Easy Ride To Headache (G.)
Making America More Indebted (Roberts)
JPMorgan Profits Soar 35% Thanks To Donald Trump’s Tax Cuts (Ind.)

 

 

How many people actually believe the Skripal and Douma stories they are being fed?

US Media Love War More Than They Hate Trump (Khalek)

American media outlets can’t help themselves. They love war. They love war more than they hate Trump. They love war so much, they are cheering on the president they hate to militarily escalate in Syria. And if he doesn’t escalate in Syria, it proves he is controlled by the Kremlin, they tell us. If he wants to demonstrate that Russia isn’t calling the shots, he must bomb Syria. And he must bomb Syria to punish Assad for an alleged chemical attack that has yet to be properly investigated to determine whether it took place and who is responsible. The US media isn’t interested in evidence, they have been repeating that Assad was behind this alleged attack from the beginning and through repetition it has become a truth.

NBC recently published claims fed to them by anonymous US intelligence officials claiming to have proof that the attack did indeed take place and that Assad is responsible. It’s not as if US officials have ever lied about weapons of mass destruction in the past to justify war, so why should NBC be skeptical of this? Meanwhile, CNN—when it isn’t busy obsessing over Stormy Daniels—has hosted a parade of war hawks agitating for military escalation against Syria, against Iran, even against Russia. For example US Republican Senator Lindsey Graham, who has never seen a country he doesn’t want to bomb, was allowed to go on air and call Assad a legitimate military target, saying Trump should take him out to “send a strong message other bad actors like North Korea and Iran.”

He went largely unchallenged by the CNN host whose only qualm was where the US could bomb in Syria to properly punish the Assad government. “It’s tough to decide what option to hit. What is a good option? You’d be forced to take out the air force but it doesn’t sound like taking out the air force will stop if it’s chemical attacks coming out of a helicopter,” she said to Graham. The editorial board at the Washington Post, a newspaper that is owned by Amazon billionaire Jeff Bezos who has a $600 million contract with the CIA that is never disclosed by the paper on stories related to the intelligence agency despite the clear conflict of interest, agitated for Trump to go further than just bombing Syria once.

The Post wants to see a longer term plan for regime change and US military domination over Syria. “The reality Mr. Trump has not yet faced is that as long as the dictator he called “Animal Assad” remains in place, Syria’s wars will continue, breeding Islamist terrorists and propelling refugees toward Europe,” said the Post. But the reality is the opposite: it is the US’ war of regime change in Syria that has prolonged the war, bred Islamist terrorists, and propelled refugees toward Europe, and the Post is calling for continuing that regime change operation.

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The story is they struck chemical weapons facilities. That means the OPCW has zero credibility from now on; they stated just a few years ago that Syria had none anymore.

US Defence Secretary Mattis Says ‘This Was A One-Time Shot’ – For Now (Ind.)

The US military has revealed the three-nation stake on Syria targeting alleged chemicals assets is over for now – declaring “right now this is a one-time shot”. Defence Secretary James Mattis said the US, UK and France had acted together, having determined that Syrian leader Bashar al-Assad had used chemical weapons against civilians a week ago. He said it would depend on Mr Assad if there were further strikes. “Right now this is a one-time shot,” he told a briefing on Friday night at the Pentagon. The Chairman of the Joint Chiefs of Staff General Joseph Dunford, said the targets included a Syrian research facility, a chemical weapons storage facility and a command post. The first of these was located in Damascus, the first time that the US had struck close to the capital.

Asked whether the US and its allies was planning further attacks, Mr Mattis said: “That depends open Assad.” The Defence Secretary said he was “certain” the Syrian regime had used chemical weapons in an attack on civilians, something that Mr Assad and its Russian allies have denied. He said the US was still investigating what sort of chemical weapons had been used. “We are aware of one of the chemical agents” that was used, but further assessments were continuing. While it was reported that Russian forces were not warned in advance of the strike, he said that usual deescalation communications did go ahead, the process Moscow and Washington use to avoid unintentional attacks on each other’s forces, or accidental clashes or their aircraft.

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“..an extra 2.5-3 million Russian adults died in middle age in the period 1992-2001 than would have been expected based on 1991 mortality..”

Why Is ‘Bad Guy’ Putin So Popular At Home? (Steve Keen)

The destructive impact of the far-too-rapid transition was an increase in the mortality rate, which medical researchers concluded meant that “an extra 2.5-3 million Russian adults died in middle age in the period 1992-2001 than would have been expected based on 1991 mortality. ” In strict economic terms, the transition was an abject failure – that is, if you think it was intended to improve Russian living standards. GDP virtually halved between 1990 and 1998, living standards plummeted, crime proliferated, and Russian society almost collapsed. Even today, output is barely above pre-transition levels.n

The failure of the rapid transition policies forced on Russia by the US is even more apparent when Russia’s transition performance is compared with China’s, where the communists remained firmly in control, and where the transition was deliberately undertaken at a measured pace. Russia’s per capita GDP today is only slightly above its level at the end of the Soviet period. China’s per capita GDP is ten times what it was in 1990. However, viewed from the very bottom of this brutal process in 1998, Russia has made remarkable progress: from 1998 until now, GDP has more than doubled, in both total and per capita terms. For almost all of this time, Russia’s president or prime minister has been Vladimir Putin.

Prior to his election in 2000, Putin rose to prominence in part because of his successful repression of the Chechen revolt. This hardly endeared Putin to the Chechens. But it gave him the aura of a strongman at the time most Russians believed their country desperately needed one, to eliminate the low-level mafia who tormented the public directly, to subdue the Oligarchs who exploited them, and to stand up to the West when his predecessor Yeltsin had effectively been a puppet. Putin can’t be solely credited with starting the economic turnaround, but his strongman approach to running Russia was welcomed, and is still welcomed, by the majority of his countrymen.

Russia is far from perfect under Putin, and Putin is far from perfect himself. But its economy and its national pride have been restored under his rule, and the Russian public cannot be faulted for feeling substantial antipathy towards the West, and the US in particular. Given that Russia has legitimate grievances about how the West treated it after it decided to join the capitalist camp, and the disastrous outcomes of all previous Western attempts at regime change, I’d rather our so-called leaders aimed for rapprochement with Russia, and yes, with Putin, instead of heightened animosity.

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So what is Congress going to do?

Trump’s Actions in Syria Violate US Constitution (Kucinich)

President Trump acted without congressional authorization in ordering a military attack against Syria tonight. This is a clear violation of the United States Constitution, Article 1, Section 8 which makes it clear that only Congress has the power to declare war. The President’s Article II authority as “Commander in Chief” does not give him the authority to act independent of Congress on matters of war. This is not a mere technicality. The doctrine of separation of powers is the only thing which protects the US from becoming a dictatorship. The President is subject to the law. The gas attack on Douma must be dealt with in an international court of law. If the US does not stand for the rule of law, how can we demand other countries to do so?

The attack on Syria will embolden ISIS. Our military power should not be used to help, directly or indirectly, ISIS and those elements whose philosophy is inimical to the United States of America. The President has violated the Constitution, usurping the power of Congress. This is not about whether or not the President hates Syria’s leaders. It is about whether or not he loves the US Constitution, which he took an oath to defend. The President chose to order a military attack almost a week after the gas attack on Douma. He had plenty of time to seek congressional approval, but he chose not to do so, even though he himself specifically said “The President must get congressional approval before attacking Syria – big mistake if he does not.” (Twitter, August 30th, 2013).

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“.. the Arab world under the control of those who live and work in the Arab world.”

Long Wars (Claire Connelly)

From Syria, to Iraq, Iran to Libya, our understandings of the long-wars in the Middle-East as moral, humanitarian interventions designed to democratise and civilise are the result of a carefully crafted propaganda campaign waged by the US and its allies. Each of these uprisings were launched by US proxies, designed to destabilize the regions, justifying regime change that suit the economic interests of its investors, banks and corporations, captured comprehensively in a new book by Canadian author and analyst, Stephen Gowans, Washington’s Long War on Syria. You might be surprised to know that both the Libyan, Syrian and Iraqi government, led by Muammar Gaddafi, Hafez Al Assad, (succeeded by Bashaar Al Assaad) and Sadaam Hussein respectively, were socialist governments.

Or Ba’ath Arab Socialist governments, to be precise. Ba’ath Arab Socialism can be summed up in their constitutions supporting the values of: ‘freedom of the Arab world, freedom from foreign powers and freedom of socialism’. Its doctrine was supported in Libya, as it was in Iraq and Syria. Of course, particularly in Hussein’s case, we cannot claim that these governments were without their problems. Ethnic cleansing is not to be overlooked, but condemned on the strongest grounds. But of course these were not the reasons the US and its allies decided to get into it. “For the last quarter of a century, the US and its allies have waged highly destructive campaigns of economic warfare against Syria and Iraq, the economic equivalent of nuclear war,” writes Gowans,

“and have done so because they are opposed to Ba’ath Arab Socialist efforts to bring politics and the economics of the Arab world under the control of those who live and work in the Arab world.” In the case of Iraq, it had combined its oil wealth with public ownership of the economy, leading to what is known as ‘The Golden Age’, where, according to a State Department Official: “Schools, universities, hospitals, factories, museums and theatres proliferated employment so universal, a labour shortage developed.” When the Ba’ath Arab Socialists were driven from power in Iraq, the US installed military dictator, Paul El Briener who set about a ‘de-Ba’athification’ of the government, expelling every member of the Ba’ath Arab Socialist party and imposed a constitution forbidding any secular Arab leader from ever holding office in Iraq again.

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It ain’t over.

The Deep State Takes A Hostage (Stockman)

The Donald seems to be taking a Deep Breath on his Syria bombfest, but the Deep State has him by the orange hairs. So we doubt the delay will last much longer. That’s because our Art of the Deal genius is getting bamboozled yet again. They are telling him that wiping out up to a dozen Syrian airfields, military installations and a dog-eared factory or two that can be identified as chemical weapons sites will amount to some pretty serious Shock & Awe where it counts: That is, the mere witnessing of it will cause the Fat Boy of Pyongyang to brown his ample trousers, thereby getting his “mind right” for the upcoming summit. That’s exactly the kind of macho-bargainer stuff that the Donald thrives on, and is further proof that the Deep State has figured out exactly how to press his buttons.

To be sure, Trump is no innocent victim. He voluntarily made himself hostage to the War Party by surrounding himself with failed generals and the most rabid war-mongers to be found in the Imperial City—-John Bolton, Mike Pompeo and Gina Haspel. Indeed, you have to wonder. How could anyone with even a half-baked notion of America First think that a hard core interventionist like John Bolton should be brought up right close and personal to the POTUS ear lobes, Walrus mustache and all? But whatever the Donald was thinking when he made such horrendous choices for his top national security posts, these denizens of the War Party have wasted no time shoving their own agenda right down his throat.

And at the top of that agenda is systematic, relentless escalation of provocations against Russia and Iran. That’s because confrontation with these demonized states is the best way to keep Imperial Washington (and therefore the entire country) on a war-footing and the national security gravy train overflowing with fiscal largesse. As we indicated in Part 1, the impending attack on Syria is actually a shot across the bow aimed at Tehran and Moscow. The cover story is simply a humanitarian sounding ruse. Ostensibly, Bashar Assad is being administered a good hard spanking via a barrage of cruise missile birch switches.

That begs the question, of course, of how homeland security is actually enhanced by selectively spanking some malefactors and not others. In this case, even the surely bogus claim that 40 civilians were gassed in Douma hardly compares to the 10,000 civilians that have been slaughtered by American bombs delivered by the Saudi air force in Yemen; or the thousands of anti-government prisoners that have been summarily executed by General al-Sisi in Egypt under this stewardship of Washington’s $1.2 billion annual stipend; or the thousands of civilians that Israel has killed during its periodic “lawn-mowing” exercises on the Gaza Strip.

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Huge challenge to Facebook and the CIA. How come only the Irish Times reports on it? The EU top courts is about to ban transfer on personal data from Europe to the US.

Irish High Court Sets Out 11 Questions For ECJ on EU-US Data Transfers (IT)

Legal uncertainty surrounds the capacity of companies such as Facebook to transfer European users’ data to the US after a High Court judge asked the most senior EU court to consider 11 questions on the issue. The referral stems from a case taken by Austrian privacy activist Max Schrems. The questions raise significant issues of EU law with huge implications, including whether the High Court has correctly found there is “mass indiscriminate processing” of data by US government agencies under the PRISM and Upstream programmes authorised there. The questions also ask whether EU law applies to the processing of personal data for national security purposes regardless of whether that data processing takes place in the EU or US or other third country.

Other questions concern whether the Privacy Shield Decision and other measures in the US afford adequate protection for EU citizens whose data is transferred there. The ECJ is also asked to decide the extent of a data protection authority’s (DAA) power to suspend data flows if it considers a third country is subject to surveillance laws which conflict with EU law. After Ms Justice Caroline Costello set out the questions on Thursday in a formal request to the ECJ for a preliminary ruling, Paul Gallagher SC, for Facebook, asked for time to consider that in the context of possibly seeking an appeal against the judge’s decision to make a reference to the CJEU in the first place.

Michael Collins SC, for the Data Protection Commissioner (DPC), queried whether there was any entitlement to appeal a High Court decision to direct a reference but did not object to Facebook being given a short time to consider its approach. The judge, noting she had given judgment last October sanctioning a reference, said she was anxious to make the referral but would allow Facebook time to April 30th. Among the questions for reference include whether, when deciding if data privacy rights of an EU citizen are breached, the issue must be examined against the EU Charter and EU law or the national law of one or more EU states, or an amalgam of the laws of all member states. The High Court had found the appropriate comparator was EU law despite Facebook disputing that.

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The challenege is in Europe, not the US.

Mark Zuckerberg’s Testimony Lurched From Easy Ride To Headache (G.)

As Mark Zuckerberg left Congress on Tuesday after testifying to the Senate, he may have felt relieved. The four-hour Q&A session had been largely dominated by mundane questions of fact about how Facebook works, requests for apologies and updates he had already given and was happy to repeat, and shameless begs for the social network’s cash pile to be used to expand broadband access in senators’ home states. Less than 24 hours later, however, a very different pattern of questioning in front of 54 members of the House of Representatives suggested a much more worrying outcome for Facebook – that this could be the week its crisis moves from being about mistakes in the past to inherent problems in the present.

Perhaps, the representatives implied, Facebook doesn’t just have a problem. What if it is the problem? Questions were still asked about Cambridge Analytica, the 9m other apps the company has to investigate for historical data sharing, and the revelation that more than a billion users had their data scraped by third parties abusing a phone or email lookup feature. But just as many were asked about problems that revolved less around mistakes and more around fundamental facets of Facebook’s business. Unsurprisingly, Zuckerberg appeared less inclined to answer those. “Will you make the commitment to change … all the user default settings to minimise, to the greatest extent possible, the collection and use of users’ data,” asked Frank Pallone, the panel’s top Democrat.

Zuckerberg, declining to give a yes or no, eventually agreed to follow up with an answer after the hearing. “Are you willing to change your business model in the interest of protecting individual privacy,” asked the Democratic congresswoman Anna Eshoo. “I’m not sure what that means,” was Zuckerberg’s reply. Europe’s general data protection regulation, Democrat Gene Green noted, gives EU citizens the right to opt out of the processing of their personal data for marketing purposes. “Will the same right … be available to Facebook users in the United States?” Zuckerberg: “Let me follow up with you on that.”

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“..an additional dollar of deficit spending will reduce private GDP by $1.01, resulting in a one-cent decline in real GDP..”

Making America More Indebted (Roberts)

In December of last year, as Congress voted to pass the “Tax Cut & Jobs Act,” I wrote that without “real and substantive cuts to spending,” the debt and deficits will begin to balloon. At that time, I mapped out the trajectory of the deficit based on the cuts to revenue from lower tax rates and sustained levels of government spending.

Since that writing, the government has now lifted the “debt ceiling” for two years and passed a $1.3 Trillion “omnibus spending bill” to operate the government through the end of September, 2018. Of course, since the government has foregone the required Constitutional process of operating on a budget for the last decade, “continuing resolutions,” or “C.R.s,” will remain the standard operating procedure of managing the country’s finances. This means that spending will continue to grow unchecked into the foreseeable future as C.R.’s increase the previously budgeted spending levels automatically by 8% annually. (Rule of 72 says spending doubles every 9-years) The chart below tracks the cumulative increase in “excess” Government spending above revenue collections. Notice the point at which nominal GDP growth stopped rising.

Trillion dollar deficits, of course, are nothing to be excited about as rising debts, and surging deficits, as shown, impede economic growth longer-term as money is diverted from productive investments to debt-service. While many suggest that “all government spending is good spending,” the reality is that “recycled tax dollars” have a very low, if not negative, “multiplier effect” in the economy. As Dr. Lacy Hunt states: “The government expenditure multiplier is negative. Based on academic research, the best evidence suggests the multiplier is -0.01, which means that an additional dollar of deficit spending will reduce private GDP by $1.01, resulting in a one-cent decline in real GDP. The deficit spending provides a transitory boost to economic activity, but the initial effect is more than reversed in time. Within no more than three years the economy is worse off on a net basis, with the lagged effects outweighing the initial positive benefit.“

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Oh boy, are we doing great.

JPMorgan Profits Soar 35% Thanks To Donald Trump’s Tax Cuts (Ind.)

JPMorgan’s profits jumped 35 percent in the last quarter, compared to a year ago, partly thanks to a huge tax cut. Congress slashed the corporate tax rate from 35 per cent to 21 per cent in December as part of a major overhaul pushed for by President Donald Trump that also cut taxes for wealthy individuals. Higher interest rates also helped to boost profits, JPMorgan said. The bank earned $8.7bn (£6.1bn) in the first quarter, or $2.37 a share, up from $6.45bn, in the same period a year earlier. Analysts had predicted JPMorgan would earn $2.28 a share.

Pre-tax income rose by $2.6bn to $28.52bn in the quarter, the company paid $240 million less in taxes compared to a year earlier. “2018 is off to a good start with our businesses performing well across the board, driving strong top-line growth and building on the momentum from last year,“ chief executive Jamie Dimon said. “The global economy continues to do well, and we remain optimistic about the positive impact of tax reform in the US as business sentiment remains upbeat, and consumers benefit from job and wage growth.”

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Apr 112018
 
 April 11, 2018  Posted by at 8:50 am Finance Tagged with: , , , , , , , , , , , ,  


Jan van Eyck The Last Judgement (detail) 1430

 

Hussman’s Script For A 60% Tumble In The Stock Market (MW)
World Trade System In Danger Of Being Torn Apart – Lagarde (G.)
Eurocontrol Warns Airlines Of Possible Missile Strikes Into Syria (R.)
Russian Envoy: Any US Missiles Fired At Syria Will Be Shot Down (R.)
We All Need To Unite Against War In Syria (CJ)
Zuckerberg Deflects Senators’ Questions, Gets $3 Billion For The Effort (MW)
Ban Targeted Advertising (Dayen)
EU Top Court Backs France Ban Of Uber (AFP)
Barclays Says Bitcoin Behaves Like An Infectious Disease (BBG)
The Failures of Anti-Trumpism (NYT)
Save the Children Faces Formal Investigation Over Staff Misconduct (G.)
Greece at Bottom of Eurozone Growth Rate (GR)
More Than Half Your Body Is Not Human (BBC)

 

 

“Investment is about valuation. Speculation is about psychology,” Hussman said. “Both factors are unfavorable here.”

Hussman’s Script For A 60% Tumble In The Stock Market (MW)

Enjoy days like this while they last, warns longtime bear John Hussman, because the volatility we’re seeing on the Dow and the S&P 500 only serves to reinforce his pessimistic view that the stock market is careening toward a painful drop of at least 60% and a decade or more of zero to negative returns. “We’re observing the very early effects of risk-aversion in a hypervalued market,” the Hussman Trust president wrote in his latest missive. “To some extent, the actual news events are irrelevant. I certainly wouldn’t gauge market risk by monitoring the day-to-day news on potential tariffs or even prospects for rate changes by the Fed.”

For those of you feeling a bit queasy because of what Hussman describes as the “rather minimal level of volatility” we’ve seen lately, it’s time to make some changes and rebalance your portfolio with some hedges, or at least lighten up by adding cash. “But do so knowing one thing in advance: you will experience regret,” he says. “If the market advances after you rebalance, you’ll regret having sold anything. If the market declines after you rebalance, you’ll regret not having sold more.”

The driving factor he frequently cites for the top-heavy market is that the Fed’s quantitative easing has inflated valuations to unsustainable levels, and as the free money goes away, the bottom will fall out, leaving a trail of blown-up investors in its wake. “Investment is about valuation. Speculation is about psychology,” Hussman said. “Both factors are unfavorable here.” He used this chart or the median price/revenue ratio of S&P components to show just how overvalued stocks are at this point, even after the recent tumble:

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Because the trade system benefits everyone, right?

World Trade System In Danger Of Being Torn Apart – Lagarde (G.)

The head of the IMF has warned of “darker clouds looming” for the global economy amid simmering trade tensions between the US and China, urging governments around the world to steer clear of protectionism or face negative consequences. Christine Lagarde said the current system for world trade was “in danger of being torn apart”, with the potential to upset the present global economic upswing and make consumers poorer. Speaking in Hong Kong amid signs the standoff could be abating, Lagarde said it would be an “inexcusable, collective policy failure” for world trade to break down with nations erecting punitive tariff systems against their rivals. “Let us redouble our efforts to reduce trade barriers and resolve disagreements without using exceptional measures,” she said.

[..] Using language that could be interpreted as a veiled attack on Trump in the speech ahead of the meeting, Lagarde said nations could make domestic policy changes to address trade imbalances and use international forums to settle disputes. “We can all do more – but we cannot do it alone,” she said. “Unfair trade practices have little impact on a country’s overall trade deficit with the rest of the world. That imbalance is driven by the fact that a country spends above its income.” Identifying the US as an example of a nation that could benefit from reforms, she said Washington could help tackle its trade imbalances by gradually curbing public spending and by increasing revenue, which she said would help reduce future fiscal deficits.

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Jamming.

Eurocontrol Warns Airlines Of Possible Missile Strikes Into Syria (R.)

Pan-European air traffic control agency Eurocontrol on Tuesday warned airlines to exercise caution in the eastern Mediterranean due to the possible launch of air strikes into Syria in next 72 hours. Eurocontrol said that air-to-ground and/or cruise missiles could be used within that period and there was a possibility of intermittent disruption of radio navigation equipment. U.S. President Donald Trump and Western allies are discussing possible military action to punish Syria’s President Bashar Assad for a suspected poison gas attack on Saturday on a rebel-held town that long had held out against government forces.

Trump on Tuesday canceled a planned trip to Latin America later this week to focus instead on responding to the Syria incident, the White House said. Trump had on Monday warned of a quick, forceful response once responsibility for the Syria attack was established. The Eurocontrol warning on its website did not specify the origin of any potential missile threat. “Due to the possible launch of air strikes into Syria with air-to-ground and/or cruise missiles within the next 72 hours, and the possibility of intermittent disruption of radio navigation equipment, due consideration needs to be taken when planning flight operations in the Eastern Mediterranean/Nicosia FIR area,” it said, referring to the designated airspace.

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Clear as that.

Russian Envoy: Any US Missiles Fired At Syria Will Be Shot Down (R.)

Russia’s ambassador to Lebanon said any U.S. missiles fired at Syria would be shot down and the launch sites targeted, a step that could trigger a major escalation in the Syrian war. Russian Ambassador Alexander Zasypkin, in comments broadcast on Tuesday evening, said he was referring to a statement by Russian President Vladimir Putin and the Russian armed forces chief of staff. The Russian military said on March 13 that it would respond to any U.S. strike on Syria, targeting any missiles and launchers involved in such an attack. Russia is Syrian President Bashar al-Assad’s most powerful ally.

The United States and its allies are considering whether to hit Syria over a suspected poison gas attack that medical relief organizations say killed dozens of people in the rebel-held town of Douma near Damascus on Saturday. “If there is a strike by the Americans, then…the missiles will be downed and even the sources from which the missiles were fired,” Zasypkin told Hezbollah’s al-Manar TV, speaking in Arabic. He also said a clash “should be ruled out and therefore we are ready to hold negotiations”.

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Yes, we do. But it’s very late in the game.

We All Need To Unite Against War In Syria (CJ)

Last night Fox’s Tucker Carlson did what may have been the most amazing thing that has ever happened on American television. As the drums of war beat louder than they have in years, Carlson stared right into the camera and did the exact opposite of what every mainstream US pundit is doing right now: he told the truth. He told the truth about Syria. He told the truth about Yemen. He told the truth about the alleged chemical weapons attack in Douma. He told the truth about the bipartisan war machine which drops all pretense of opposition the instant it’s time for bloodshed. He told the truth about what war is, what it costs, and what it does to our world.

He stood in stark, unequivocal opposition to the trajectory the Trump administration appears to be moving along. And he did it on Fox News. I have a deep and abiding hatred in my heart for Fox News and all things Murdoch. I will never forget nor forgive the key role the Murdoch press played in deceiving our world into the unimaginable evil that was the Iraq invasion. But if I’d held a reflexive rejection of anything with the Fox News logo in the corner, I never would have seen Carlson’s epic monologue, never would have shared it with my social media following, never would have embedded it in this article, and this bright flash of truth would have been diminished by that much in the impact it was able to have on public consciousness.

And I know that there are many leftists who declined to help spread awareness of that Carlson monologue based solely on the fact that he’s a conservative pundit on a conservative network who has said things they disagree with in the past. This is stupid. We should be able to throw any weapon at all at the war machine, not fight with one hand tied behind our backs just because we don’t like conservatives.

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It was even worse than imagined.

Zuckerberg Deflects Senators’ Questions, Gets $3 Billion For The Effort (MW)

Mark Zuckerberg has come far since the early days of Facebook, and that growth was extremely apparent in how deftly the chief executive dealt with several hours of inscrutable questioning by U.S. senators Tuesday over the social network’s role in presidential election-meddling and the Cambridge Analytica data scandal. Wearing a conservative suit and light blue tie, an outfit he would rarely wear in Silicon Valley, Zuckerberg sat ramrod straight in his witness chair for most of the many hours of questions. He responded to each questioner by first addressing them as senator or chair. He looked earnest and serious for almost every question, even during some of the laughable questions from some of the less tech-savvy members of the Senate, such as the one by Sen. Orrin Hatch, who asked how Facebook makes money if it doesn’t charge users anything.

“Senator, we run ads,” Zuckerberg said with a smile. That calm response was in marked contrast to when Zuckerberg faced another type of grilling, at the All Things D conference in 2010, when he gave vague and rambling answers about Facebook’s changes to its privacy controls at the time, and had to take off his famous hoodie while wiping sweat from his face under the lights on stage. Part of his preparedness for the Senate hearing, where he managed to repeat several core phrases that the company has been perpetuating in the media, came as a result of Facebook’s information bombardment over the past month.

Some of the company’s obvious talking points have been repeated throughout the past weeks, such as how sorry Zuckerberg is, how much control Facebook users actually do have over their own data, how Facebook is trying to build a positive community and constant reminders of how the company started in a Harvard University dorm when he was 19. According to the New York Times, Facebook hired a team of experts to give Zuckerberg — who can be combative and defensive — a crash course in humility and charm ahead of the hearing in sessions that included mock hearings with its communications team and outside advisers. That preparation paid off: After the first two hours of questions were nearing an end and there was a call for a potential break, Zuckerberg took a sip of water and said he could keep going for a bit longer.

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Exactly. Stop that and all the Facebok nonsense stops. But those in power don’t want it to stop.

Ban Targeted Advertising (Dayen)

For the first 35 years of my life, like most Americans, I was exposed to lots of advertising. I absorbed billboards and print ads and direct mailers and television commercials and radio jingles. I learned about available products and services, and chose which ones I wanted. Some businesses I patronized survived and others didn’t. The economy mostly proceeded apace. Then, over the last decade, this form of marketing became seen as insufficient—or rather, the rise of digital media made a more invasive form of marketing too irresistible. Instead of having to cast a wide net in searching for potential customers, advertisers now could know every intimate detail about those customers beforehand.

They began targeting people geographically and behaviorally, based on common interests or things they liked in social media or what they wrote in emails to friends. The surveillance economy was born. The surveillance economy should die. This manner of advertising doesn’t serve the public and it’s not even clear it serves advertisers. It facilitates monopoly, as those with the biggest data troves receive all the ad dollars. That centralizes the potential for and magnitude of abuse, with Big Data used to discriminate against groups, steer vulnerable people to financial scams, and meddle in U.S. elections.

Cambridge Analytica’s scraping of 87 million user profiles through a simple personality quiz, and then weaponizing that information on behalf of Donald Trump’s presidential campaign, revealed how information on social media is inherently insecure. Now Facebook CEO Mark Zuckerberg is appearing before Congress on Tuesday to explain how this won’t happen again. But instead of leaving regulation to Facebook, or devising one Rube Goldberg scenario after another to try to protect consumer data, the U.S. can take one simple, legal step to roll back this dystopian nightmare: ban targeted advertising.

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App or transport?

EU Top Court Backs France Ban Of Uber (AFP)

The EU’s top court on Tuesday backed the right of member states like France to ban a service by ridesharing firm Uber without notifying Brussels, in a fresh setback to the US giant. The European Court of Justice ruled in favour of France’s ban of the UberPop service, which links amateur drivers with customers, comparing it to a December decision backing traditional taxi firms in the Spanish city of Barcelona. “Member States may prohibit and punish, as a matter of criminal law, the illegal exercise of transport activities in the context of the UberPop service, without notifying the Commission in advance,” the European Court of Justice ruled. [..]

Uber France is facing criminal proceedings in a court in the northern French city of Lille for its UberPop service. It argues that member states like France were required to notify the European Commission about the criminal legislation under which the case was brought because it concerned a technical regulation of an information society service. But the court of justice said the French case resembled one it ruled on in December when it classified Uber as an ordinary transportation company instead of an app and should be regulated as such. “In the Court’s view, the UberPop service offered in France is essentially identical to the service provided in Spain,” the court of justice statement said.

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True or not, a nice angle.

Barclays Says Bitcoin Behaves Like An Infectious Disease (BBG)

Is the rise of Bitcoin analogous to the spread of an infectious disease? Analysts at Barclays saw enough similarities to develop a pricing model for the cryptocurrency that takes its cues from the world of epidemiology. Their diagnosis: Bitcoin has probably peaked. The Barclays model divides the pool of potential Bitcoin investors into three groups: susceptible, infected and immune. It assumes that as prices rise, “infections” spread by word-of-mouth (nobody likes missing out when their friends and colleagues are getting rich). Barclays analysts led by Joseph Abate in New York explained the rest in a note to clients on Tuesday:

“As more of the population become asset holders, the share of the population available to become new buyers – the potential ‘host’ population – falls, while the share of the population that are potential sellers (‘recoveries’) increases. Eventually, this leads to a plateauing of prices, and progressively, as random shocks to the larger supply population push up the ratio of sellers to buyers, prices begin to fall. That induces speculative selling pressure as price declines are projected forward exponentially.” A similar dynamic plays out with infectious diseases when the so-called immunity threshold is reached, “the point at which a sufficient portion of the population becomes immune such that there are no more secondary infections,” the analysts wrote.

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Does David Brooks realize that anti-Trumpism, of which he’s a proud supporter, is what won Da Doland da election?

The Failures of Anti-Trumpism (NYT)

Over the past year, those of us in the anti-Trump camp have churned out billions of words critiquing the president. The point of this work is to expose the harm President Trump is doing, weaken his support and prevent him from doing worse. And by that standard, the anti-Trump movement is a failure. We have persuaded no one. Trump’s approval rating is around 40%, which is basically unchanged from where it’s been all along. We have not hindered him. Trump has more power than he did a year ago, not less. With more mainstream figures like H. R. McMaster, Rex Tillerson and Gary Cohn gone, the administration is growing more nationalist, not less. We have not dislodged him.

For all the hype, the Mueller investigation looks less and less likely to fundamentally alter the course of the administration. We have not contained him. Trump’s takeover of the Republican Party is complete. 89% of Republicans now have a positive impression of the man. According to an NBC News/Wall Street Journal poll, 59% of Republicans consider themselves more a supporter of Trump than of the Republican Party. On trade, immigration, entitlement reform, spending, foreign policy, race relations and personal morality, this is Trump’s party, not Reagan’s or anyone else’s. A lot of us never-Trumpers assumed momentum would be on our side as his scandals and incompetences mounted. It hasn’t turned out that way.

I almost never meet a Trump supporter who has become disillusioned. I often meet Republicans who were once ambivalent but who have now joined the Trump train. National Review was once staunchly anti-Trump, and many of its writers remain so, but, tellingly, N.R. editor Rich Lowry just had a column in Politico called “The Never Trump Delusion” arguing that Trump is not that big a departure from the Republican mainstream. The surest evidence of Trump’s dominance is on the campaign trail. As The Times’s Jonathan Martin reported, many Republicans, including Ted Cruz, are making the argument that if Democrats take over Congress, they will impeach the president. In other words, far from ignoring Trump, these Republicans are making defending him the center of their campaigns.

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Et tu, Brute?

Save the Children Faces Formal Investigation Over Staff Misconduct (G.)

Save the Children, the global charity mired in allegations that it failed to investigate sexual abuse and inappropriate behaviour by staff, is to be formally investigated by the Charity Commission. In a statement announcing a statutory inquiry, the commission said it had been prompted by “concerns about the charity’s handling, reporting and response to serious allegations of misconduct and harassment against senior staff members in 2012 and 2015”. The commission describes a statutory inquiry as its “most serious form of engagement” with a charity.

The news, announced on Tuesday night, will be another blow for the charity two months after it emerged that both Justin Forsyth, its former chief executive, and Brendan Cox, the former policy director and widower of the MP Jo Cox, left the charity in 2015 following allegations of misconduct. The two men knew each other from their years working for Gordon Brown and the Labour party. After he left Save the Children, Forsyth went on to a senior role at Unicef. He resigned in February after the reports of inappropriate behaviour emerged. Cox also resigned from the charities More in Common and the Jo Cox Foundation, set up in the aftermath of his wife’s murder.

The commission, which itself has been criticised for failing to follow up allegations involving the charities it polices, has been working with Save the Children since the facts about Forsyth and Cox emerged in the wake of the scandal involving Oxfam workers in Haiti. Save the Children is already reviewing its workplace culture and the implementation of recommendations made by a previous review. But the Charity Commission said its recent work with it, and new information from other sources that has recently come into the regulator’s possession, meant that the commission wanted to make further inquiries.

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It’s crazy to think the Greek economy is growing.

Greece at Bottom of Eurozone Growth Rate (GR)

Greece’s growth was the lowest among eurozone countries for 2017, with a GDP rise of just 1.4% while the eurozone average was 2.3%, according to European Central Bank figures. The ECB annual report released on Monday showed Ireland at the top of the growth chart among eurozone member states with a 5% GDP increase. Overall, 2017 was a year of growth for the whole of the single-currency bloc. According to the report, the main reason Greece fared so low in 2017 was that it showed only 0.1% growth in private consumption, compared to an average 1.6% increase in the rest of eurozone states.

At the same time, Greece showed a 1.1% decline in government spending, while the average in the euro area was a 1.2% increase. In terms of per capita GDP at current prices and adjusted for the cost of living, Greeks have an average annual income of €19,900 ($24,527) compared to €54,600 for each Irish citizen. In Portugal, average income amounted to €23,100, compared to €18,100 before the economic crisis. In Cyprus, the average income was €24,600 compared to €29,900 before the crisis. The “before the economic crisis” figures refer to the 1999-2008 period. On average in the euro area, per capita GDP stood at €31,700 according to the latest figures (2016), compared to €24,400 before the crisis.

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Bugs as drugs. “Originally it was thought our cells were outnumbered 10 to one.”

Well, our genes are outnumbered 1000 to 1.

More Than Half Your Body Is Not Human (BBC)

More than half of your body is not human, say scientists. Human cells make up only 43% of the body’s total cell count. The rest are microscopic colonists. Understanding this hidden half of ourselves – our microbiome – is rapidly transforming understanding of diseases from allergy to Parkinson’s. The field is even asking questions of what it means to be “human” and is leading to new innovative treatments as a result. “They are essential to your health,” says Prof Ruth Ley, the director of the department of microbiome science at the Max Planck Institute, “your body isn’t just you”. No matter how well you wash, nearly every nook and cranny of your body is covered in microscopic creatures.

This includes bacteria, viruses, fungi and archaea (organisms originally misclassified as bacteria). The greatest concentration of this microscopic life is in the dark murky depths of our oxygen-deprived bowels. Prof Rob Knight, from University of California San Diego, told the BBC: “You’re more microbe than you are human.” Originally it was thought our cells were outnumbered 10 to one. “That’s been refined much closer to one-to-one, so the current estimate is you’re about 43% human if you’re counting up all the cells,” he says. But genetically we’re even more outgunned. The human genome – the full set of genetic instructions for a human being – is made up of 20,000 instructions called genes. But add all the genes in our microbiome together and the figure comes out between two and 20 million microbial genes.

[..] Antibiotics and vaccines have been the weapons unleashed against the likes of smallpox, Mycobacterium tuberculosis or MRSA. That’s been a good thing and has saved large numbers of lives. But some researchers are concerned that our assault on the bad guys has done untold damage to our “good bacteria”. Prof Ley told me: “We have over the past 50 years done a terrific job of eliminating infectious disease. “But we have seen an enormous and terrifying increase in autoimmune disease and in allergy. “Where work on the microbiome comes in is seeing how changes in the microbiome, that happened as a result of the success we’ve had fighting pathogens, have now contributed to a whole new set of diseases that we have to deal with.”

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