Mar 242021
 
 March 24, 2021  Posted by at 9:09 am Finance Tagged with: , , , , , ,  52 Responses »


Paul Gauguin Farm in Brittany 1894

 

We Are Living Through a Time of Fear (Cook)
Covid: £5,000 Fine For People Going On Holiday Abroad (BBC)
Lockdown One Year On – It Was Never Supposed To Work (OffG)
CoroNaspresso: A Cheap, Rapid and Simple Home Test (chemrxiv)
Every Day We Discuss Closure And Then Decide To Keep Going (MENA)
Top Yale Doctor: ‘Ivermectin Works,’ Including For Long COVID (TSN)
Logic In Lockdown: The German Corona Policy Is In Ruins (NZZ)
US Home Sales Fell Nearly 20% In February (F.)
EU Has ‘Destroyed’ Once Friendly Ties With Russia – Lavrov (RT)
Welcome To ‘Shocked & Awed’ 21st Century Geopolitics (Escobar)
H.R.1 – Is It Really “For the People”? (Farrell)
Leaked Docs Show Obama FTC Gave Google Its Monopoly (Bovard)
Big Oil Backs Carbon Tax (Reason)
Minnesota Police Ready For Pipeline Resistance (IC)

 

 

“One must still have chaos in oneself to give birth to a dancing star.”
– Friedrich Nietzsche

 

 

“I was not born to be forced. I will breathe after my own fashion. Let us see who is the strongest”.
– Henry David Thoreau, ‘Civil Disobedience’

 

 

UK politics has gone completely bonkers….

We Are Living Through a Time of Fear (Cook)

Welcome to the age of fear. Nothing is more corrosive of the democratic impulse than fear. Left unaddressed, it festers, eating away at our confidence and empathy. We are now firmly in a time of fear – not only of the virus, but of each other. Fear destroys solidarity. Fear forces us to turn inwards to protect ourselves and our loved ones. Fear refuses to understand or identify with the concerns of others. In fear societies, basic rights become a luxury. They are viewed as a threat, as recklessness, as a distraction that cannot be afforded in this moment of crisis. Once fear takes hold, populations risk agreeing to hand back rights, won over decades or centuries, that were the sole, meagre limit on the power of elites to ransack the common wealth. In calculations based on fear, freedoms must make way for other priorities: being responsible, keeping safe, averting danger.

Worse, rights are surrendered with our consent because we are persuaded that the rights themselves are a threat to social solidarity, to security, to our health. It is therefore far from surprising that the UK’s draconian new Police and Crime Bill – concentrating yet more powers in the police – has arrived at this moment. It means that the police can prevent non-violent protest that is likely to be too noisy or might create “unease” in bystanders. Protesters risk being charged with a crime if they cause “nuisance” or set up protest encampments in public places, as the Occupy movement did a decade ago. And damaging memorials – totems especially prized in a time of fear for their power to ward off danger – could land protesters, like those who toppled a statue to notorious slave trader Edward Colston in Bristol last summer, a 10-year jail sentence.

In other words, this is a bill designed to outlaw the right to conduct any demonstration beyond the most feeble and ineffective kind. It makes permanent current, supposedly extraordinary limitations on protest that were designed, or so it was said, to protect the public from the immediate threat of disease. Protest that demands meaningful change is always noisy and disruptive. Would the suffragettes have won women the vote without causing inconvenience and without offending vested interests that wanted them silent? What constitutes too much noise or public nuisance? In a time of permanent pandemic, it is whatever detracts from the all-consuming effort to extinguish our fear and insecurity. When we are afraid, why should the police not be able to snatch someone off the street for causing “unease”?

The UK bill is far from unusual. Similar legislation – against noisy, inconvenient and disruptive protest – is being passed in states across the United States. Just as free speech is being shut down on the grounds that we must not offend, so protest is being shut down on the grounds that we must not disturb.

Read more …

… and I mean completely.

Covid: £5,000 Fine For People Going On Holiday Abroad (BBC)

A £5,000 fine for anyone in England trying to travel abroad without good reason is due to come into force next week as part of new coronavirus laws. The penalty is included in legislation that will be voted on by MPs on Thursday. Foreign holidays are currently not allowed under the “stay at home” rule which ends on Monday. But then the ban on leaving the UK at this time will become a specific law backed up by the threat of the fine. Under the current plan for easing restrictions, the earliest date people in England could go abroad for a holiday would be 17 May. However, another surge in Covid cases in continental Europe, as well as the slow rollout of vaccines across Europe, has cast doubt on the resumption of foreign travel.


Health Secretary Matt Hancock said restrictions on travelling abroad were necessary to guard against the importation of large numbers of cases and new variants which might put the vaccine rollout at risk. Shadow Cabinet Office minister Rachel Reeves told BBC Breakfast that Labour supported measures to keep the UK’s borders secure and avoid the importation of new variants but said the government’s “slowness to react” had contributed to the country’s high death rate. Prime Minister Boris Johnson warned on Monday the UK should be “under no illusion” that it will feel the effects of a rising number of cases on the continent. One of his ministers, Lord Bethell, said England might put “all our European neighbours” on the “red list” of countries. However, Mr Hancock told BBC Radio 4’s Today programme there were no plans to do this.

Read more …

A two week lockdown can achieve something. A one year lockdown can only achieve something other than the stated intent.

An entire library on lockdown effectiveness is at The Fat Emperor.

Lockdown One Year On – It Was Never Supposed To Work (OffG)

And so we come to March 23rd, and lockdown’s first birthday. Or, as we call it here, the longest two weeks in history. 1 year. 12 calendar months. 365 increasingly gruelling days. It’s a long time since “2 weeks to flatten the curve”, became an obvious lie. Sometime in July it turned into a sick joke. The curve was flattened, the NHS protected and the clapping was hearty and meaningful. …and none of it made any difference. This was not a sacrifice for the “greater good”. It was not a hard decision with arguments on both sides. It was not a risk-benefit scenario. The “risks” were in fact certainties, and the “benefits” entirely fictional.Because Lockdowns don’t work. It’s really important to remember that.


Even if you subscribe to the belief that “Sars-Cov-2” is a unique discrete entity (which is far from proven), or that it is incredibly dangerous (which is demonstrably untrue), the lockdown has not worked to, in any way, limit this supposed threat. Lockdowns. Don’t. Work. They don’t make any difference, the curves don’t flatten and the R0 number doesn’t drop and the lives aren’t saved (quite the opposite, as we’ve all seen). Just look at the graphs. This one, comparing “Covid deaths” in the UK (lockdown) and Sweden (no lockdown):

Or this one, comparing “Covid deaths” in California (lockdown) and Florida (no lockdown):

From Belarus to Sweden to Florida to Nicaragua to Tanzania, the evidence is clear. “Covid”, whatever that means in real terms, is not impacted by lockdowns. Putting the entire population under house arrest doesn’t benefit public health. In fact, it’s (rather predictably) incredibly counter-productive. The damage done by shuttering businesses, limiting access to healthcare, postponing treatments and diagnoses, postponed surgeries, increasing depression, soaring unemployment and mass poverty has been discussed to death. The scale of the impact cannot be overstated.


Dr David Nabarro, World Health Organization special envoy for Covid-19, said this of lockdowns back in October: “We in the World Health Organization do not advocate lockdowns as the primary means of control of the virus[…]just look at what’s happened to the tourism industry…look what’s happening to small-holding farmers[…]it seems we may have a doubling of world poverty by next year. We may well have at least a doubling of child malnutrition […] This is a terrible, ghastly global catastrophe.”

Read more …

Haven’t read the whole document yet, but the picture looks intruiging.

CoroNaspresso: A Cheap, Rapid and Simple Home Test (chemrxiv)

Development of a novel LAMP device which is cheap, reusable, and can be produced in large amounts in a short period of time. The device was designed such not to require chemical exothermic reactions, have limited waste produced and with a minimum cost of the device as a whole. The device was tested for the detection of SARS-CoV2 RNA.

Read more …

In Lebanon, it’s one crisis on top of another crisis on top of another.

Every Day We Discuss Closure And Then Decide To Keep Going (MENA)

Once bustling with life, Beirut’s famed Gemmayze Street is now deserted. Lined with damaged homes, collapsed buildings and closed businesses, the residential and commercial hub was one of the city’s most vibrant destinations – but not any more. “It’s like a nightmare. We’ve never seen anything like this before,” said Charbel Bassil, owner of renowned Le Chef restaurant, on the first day of reopening after a nationwide lockdown. One of Beirut’s oldest and most popular restaurants, Le Chef, in in Gemmayze, is one of many businesses struggling to stay afloat under the weight of Lebanon’s compounding crises. The family business reopened its doors on March 22, as per the government’s lockdown strategy, but customers were hardly pouring in.

The modest space, which was often full to the brim for lunchtime, now welcomed only three tables after a full day of work, or about 10 customers. The burst of vigor and energy that characterised the dining experience at Le Chef was replaced by a sense of moping and melancholy. “We’re doing our best to keep going, but everything is a mess,” Mr Bassil told The National. Le Chef , founded in 1967, weathered civil wars and crises, but none harmed trade like Lebanon’s current events. “This is our family business. I’ve been working here since I was a child, but nothing we lived through was as bad as this,” Mr Bassil said. After almost losing the restaurant in the Beirut blast, Le Chef was able to rebuild thanks to donations, $5,000 of which came from the actor Russell Crowe.

But what the port explosion could not destroy, the economic crisis shattered. “We can’t work in this crisis. Suppliers won’t give us goods because of the market rate and we don’t know how to price our dishes,” Mr Bassil told The National. “We’re a restaurant for the people. We want to serve high-quality food for affordable prices.” Lebanon’s currency lost more than 80 per cent of its value since the beginning of the economic crisis, declared one of the worst in the country’s history. In one year, the Lebanese pound, which once traded at 1,500 to the US dollar, slumped to 15,000 on the parallel market. The minimum wage shrank from $450 to an average of $50, leaving people with insufficient salaries to cover rising living costs.

[..] Despite the opportunity to be back in business, Lebanon’s hospitality sector is wary about reopening because operational costs now outweigh profits. Fewer than 1,000 restaurants and cafes are expected to reopen this week, said Aref Saade, treasurer at the Syndicate of Owners of Restaurants, Cafes, Night-Clubs and Pastries. Prior to the crisis, Lebanon had about 8,500 tourist institutions in business. The number decreased to 4,500 when Covid-19 struck, and is anticipated to sink below 1,000 due to the soaring and unstable currency exchange rate. “Businesses are refraining from reopening – it’s just not worth it,” Mr Saade told The National.

Read more …

“If I can save you,” he said referring to his father, “I can tell you, I save anybody.”

Top Yale Doctor: ‘Ivermectin Works,’ Including For Long COVID (TSN)

A Yale University professor and renowned cancer researcher has pored over the COVID-19 literature and treated several dozen patients. He can remain silent no longer. Dr. Alessandro Santin, a practicing oncologist and scientist who runs a large laboratory at Yale, believes firmly that ivermectin could vastly cut suffering from COVID-19. Santin joins a growing group of doctors committed to using the safe, generic drug both as an early home treatment to prevent hospitalization and alongside inpatient treatments like steroids and oxygen. “The bottom line is that ivermectin works. I’ve seen that in my patients as well as treating my own family in Italy,” Santin said in an interview, referring to his father, 88, who recently suffered a serious bout of COVID. “We must find a way to administer it on a large scale to a lot of people.”

Santin’s statements carry the prestige of a leadership position at Yale School of Medicine and the gravitas of a top uterine cancer researcher, who has authored more than 250 science journal articles and pioneered treatment, used worldwide, for the most aggressive form of uterine cancer. At Yale, he is an OB/GYN professor, team leader in gynecologic oncology at the Smilow Comprehensive Cancer Center, and co-chief of gynecologic oncology. When COVID came along, Santin began reading about how best he might help his cancer patients, 10 to 20 percent of whom were coming in infected with COVID. He began using ivermectin after the National Institutes of Health changed its advisory in January to allow the drug’s use outside of COVID trials. Santin’s endorsement is not only important but broad.

He said he has seen ivermectin work at every stage of COVID — preventing it, eliminating early infection, quelling the destructive cytokine storm in late infection, and helping about a dozen patients so far who suffered months after COVID. One of them is an athlete and mother of two, 39, who had been disabled by post-COVID chest pain, shortness of breath and fatigue; she confirmed in an email to me her joy at being able to walk up a hill again and breathing better within 72 hours of her first dose. “When you have people that can’t breathe for five, six, eight, nine months and they tried multiple drugs and supplements with no success, and you give them ivermectin,” Dr. Santin said of long-haul patients, “and you see that they start immediately feeling better, this is not placebo. This is real.”

[..] Beyond his outpatients, Santin has treated family members and friends infected with COVID in both his home community in Connecticut and in his native Italy via telemedicine. There, he prescribed ivermectin to more than 15 families, in which parents, children or others had became infected; the goal was both to treat early and prevent severe COVID, as studies have shown ivermectin does. “I have not a single one that right now had to go to the hospital to receive oxygen,” he said. “I have no doubt ivermectin saved my 88-year-old father’s life.” His father survived COVID despite high blood pressure, cardiac disease that led previously to seven stents and open heart surgery, and lung problems. “If I can save you,” he said referring to his father, “I can tell you, I save anybody.”

Read more …

Google translate.

Logic In Lockdown: The German Corona Policy Is In Ruins (NZZ)

Instead of easing concepts, the Chancellor and Prime Minister present the extension and tightening of the lockdown. The citizens have to pay for what the government has missed for months. Chancellor Angela Merkel and the Prime Minister wrestled with each other for twelve hours on Tuesday. Anyone who expected a big hit after this nightly marathon was disappointed: The result of the conference is shameful. Not only that the tentative easing of the corona measures has been discarded. Germany should also go into a tough lockdown at Easter. “We thought again today,” said the Chancellor in the early hours of the morning. In order to “break through” the third corona wave a little bit, April 1st and 3rd at Easter will be “one-off days of rest”, as “extended rest time”.

Rethought? With these resolutions, Germany’s government surrenders to the principles of reason. If you wanted to avoid hamster purchases and crowds in supermarkets until now, the opposite is now the case: the closing of supermarkets over Easter is forcing citizens to replenish their supplies. You don’t need a crystal ball to predict the resulting overcrowding of the shops on Holy Saturday. Is that still wanton or already deliberate bad planning? Either way, it lacks any logic. Religious freedom could also be a victim of the comfortably formulated “extended rest period at Easter” – for all those for whom five months of rest are not enough – there should be no Easter services with an audience in attendance, according to the will of the conference.

So while in the past few days 700 Hansa Rostock football fans were allowed to go to the stadium with a negative quick test and 1,000 classical music fans who also tested negative were allowed to go back to the Berlin Philharmonic, is it not possible to organize a gathering of Christians at their highest festival? Not if you leave it to this government, that’s for sure. Local politicians such as Tübingen’s Mayor Boris Palmer show that there is another way. With test stations he enables the citizens of his city to live a little and the business people to survive.

Read more …

“..the lowest reported inventory since the Realtors association began tracking it in 1982..”

US Home Sales Fell Nearly 20% In February (F.)

Single-family home sales dropped 18.2% from January to February, according to the U.S. Census Bureau, even as annualized sales remain much higher than pre-pandemic rates. 775,000 (at a seasonally adjusted annual rate) new single-family homes were sold in Feb. 2021—that’s a large drop from the 958,000 homes sold rate in Jan. 2021. Adjusted home sale rates are still far higher than they were pre-pandemic: 716,000 new single family homes were sold in Feb. 2020. The median price of new homes sold in February was $349,000 and the average sale price was $416,000. The National Association of Realtors said the decline from January was due to “historically-low inventory”, and said home sales are ahead of total 2020 sales. At the end of December 2020, there were just 1.07 million homes for sale—the lowest reported inventory since the Realtors association began tracking it in 1982.

Read more …

“Brussels “has consistently destroyed all mechanisms without exception that existed on the basis of an agreement on partnership and cooperation.”

EU Has ‘Destroyed’ Once Friendly Ties With Russia – Lavrov (RT)

Months of political tension and a wave of new sanctions have severed all links between the EU and Russia, Moscow’s top diplomat has said, adding that his country is ready to resume cooperation if Brussels decides it is interested. Speaking at a press conference alongside his Chinese counterpart on Tuesday, Foreign Minister Sergey Lavrov said that currently, “there are no relations with the EU as an organization. The entire infrastructure of these relations has been destroyed by unilateral decisions made from Brussels.” Some individual European countries, he argued, are still seeking closer ties with Moscow, “guided by their national interests.” However, these are being fast outpaced by growing partnerships with China, Lavrov told journalists.

“If and when Europeans decide to eliminate these anomalies in contacts with their largest neighbor, of course, we will be ready to build up these relations based on equality,” the diplomat confirmed, “while in the East, in my opinion, we have a very intensive agenda, which is becoming more diverse every year.” In February, the foreign minister stated that Moscow’s relations with the bloc had taken a tumble in 2014, after the EU “blamed the Russian Federation for everything that is happening” in Ukraine following the Maidan. Since then, he argued, Brussels “has consistently destroyed all mechanisms without exception that existed on the basis of an agreement on partnership and cooperation.”

As part of a fiery broadcast interview, Lavrov warned that if the bloc’s leadership sought to impose sanctions on Russia that hit sensitive areas of the economy, Moscow could break off diplomatic contact altogether as a last resort. “Of course, we do not want to isolate ourselves from living in the world, but we must be ready for this. If you want peace, prepare for war,” he stressed. Earlier this month, the EU unveiled a new package of sanctions against four Russian officials it claimed were responsible for the detention of opposition figure Alexey Navalny, and “human rights violations” during the policing of subsequent protests held in his support. At the time, the Foreign Ministry in Moscow said the bloc had “missed yet another opportunity to review its … approach to relations with Russia.”

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“The United States is not qualified to talk to China in a condescending manner. The Chinese people will not accept that.”

Welcome To ‘Shocked & Awed’ 21st Century Geopolitics (Escobar)

With a Russia-China-Iran triple bitch slap on the hegemon, we now have a brand new geopolitical chessboard… It took 18 years after Shock and Awe unleashed on Iraq for the Hegemon to be mercilessly shocked and awed by a virtually simultaneous, diplomatic Russia-China one-two. How this is a real game-changing moment cannot be emphasized enough; 21st century geopolitics will never be the same again. Yet it was the Hegemon who first crossed the diplomatic Rubicon. The handlers behind hologram Joe “I’ll do whatever you want me to do, Nance” Biden had whispered in his earpiece to brand Russian President Vladimir Putin as a soulless “killer” in the middle of a softball interview.

Not even at the height of the Cold War the superpowers resorted to ad hominem attacks. The result of such an astonishing blunder was to regiment virtually the whole Russian population behind Putin – because that was perceived as an attack against the Russian state. Then came Putin’s cool, calm, collected – and quite diplomatic – response, which needs to be carefully pondered. These sharp as a dagger words are arguably the most devastatingly powerful five minutes in the history of post-truth international relations. In For Leviathan, it’s so cold in Alaska, we forecasted what could take place in the US-China 2+2 summit at a shabby hotel in Anchorage, with cheap bowls of instant noodles thrown in as extra bonus.

China’s millennial diplomatic protocol establishes that discussions start around common ground – which are then extolled as being more important than disagreements between negotiating parties. That’s at the heart of the concept of “no loss of face”. Only afterwards the parties discuss their differences. Yet it was totally predictable that a bunch of amateurish, tactless and clueless Americans would smash those basic diplomatic rules to show “strength” to their home crowd, distilling the proverbial litany on Taiwan, Hong Kong, South China Sea, “genocide” of Uighurs. Oh dear. There was not a single State Dept. hack with minimal knowledge of East Asia to warn the amateurs you don’t mess with the formidable head of the Foreign Affairs Commission at the CCP’s Central Committee, Yang Jiechi, with impunity.

Visibly startled, but controlling his exasperation, Yang Jiechi struck back. And the rhetorical shots were heard around the whole Global South. They had to include a basic lesson in manners: “If you want to deal with us properly, let’s have some mutual respect and do things the right way”. But what stood out was a stinging, concise diagnostic blending history and politics: “The United States is not qualified to talk to China in a condescending manner. The Chinese people will not accept that. It must be based on mutual respect to deal with China, and history will prove that those who seek to strangle China will suffer in the end.”

Read more …

It is a weird piece of legislation.

H.R.1 – Is It Really “For the People”? (Farrell)

A lot has been written about H.R.1 — the so-called “For the People Act of 2021.” Former Vice President Mike Pence has opined on the bill. The Editorial Board of the Wall Street Journal sounded the alarm back in January. The editors of National Review come right out and call it a “partisan assault on American democracy.” H.R.1 purports to, “expand Americans’ access to the ballot box, reduce the influence of big money in politics, strengthen ethics rules for public servants, and implement other anti-corruption measures for the purpose of fortifying our democracy, and for other purposes.” The Bill is 791 pages long. Here are just a few of the more egregious federal power grabs in H.R.1 concocted against the 50 states that run elections under the U.S. Constitution:

• Ban voter ID laws and allow ballot harvesting; • Expand Election Day to “election season” by mandating mail-in ballots be counted 10 days after the election would normally be over; • Automatic voter registration of people who apply for unemployment, Medicaid, Obamacare and college, or who are coming out of prison. There is a lot more, and it gets worse. Substantially worse. There are First Amendment restrictions on political speech and on the support or opposition of a bill and/or a candidate. Remember: This is supposed to be “fortifying our democracy.” If you are interested in a “through the looking glass” annotated analysis of H.R.1 — then head over to the Brennan Center for Justice. They are happy to explain how those pesky constitutional rights can be whittled down to something more “fair” for everyone.

For example, the Brennan Center analysis confidently assures readers about how H.R.1 “affirms Congress’ power to protect the right to vote, regulate federal elections, and defend the democratic process in the United States.” It seeks to airbrush Article I, Section 4 — The Elections Clause — from history and practice. The Clause directs and empowers states to determine the “Times, Places, and Manner” of congressional elections. H.R.1 would federally strangle the Elections Clause. In order to find our way out, it is helpful to know how we got into this terrible predicament. The foundation for the madness of H.R.1 is legal positivism, a thesis, according to the Stanford Encyclopedia of Philosophy, which states “that the existence and content of law depends on social facts and not on its merits.” H.R.1 is nearly 800 pages of meritless, militant, social engineering targeting the foundations of the U.S. Constitution, voting rights and political free speech — all dressed-up as being “for the people.”

Read more …

Too late now.

Leaked Docs Show Obama FTC Gave Google Its Monopoly (Bovard)

Eight years ago, the Federal Trade Commission had the chance to face down Google — the giant of Silicon Valley whose power now alters the free flow of information at a global scale, distorts market access for businesses large and small, and changes the nature of independent thought in ways the world has never experienced. Instead, the FTC blinked — and blinked hard, choosing to close the investigation in early 2013. A remarkable leak to Politico of agency documents about the 2012 Google investigation reveals that, despite ample evidence of market distortions and threats to competition presented by the agency’s lawyers, the five commissioners of the FTC deferred instead to speculative claims by their economists.

Records and reporting about the 2012 investigation suggest the FTC did so while bending to political pressure from the Obama White House — which was, in turn, bending to political pressure from Google. William Kovacic, a former FTC chair under President George W. Bush, reviewed the more than 300 pages of documents leaked to Politico and concluded the agency overlooked “what many experts and regulators would consider clear antitrust violations,” calling the specificity of issues outlined “breathtaking.” In short, where we find ourselves today — with Google as the primary filter of the world’s information, engaging in a network of exclusionary contracts and anti-competitive conduct, and subject to an antitrust lawsuit led by the Department of Justice and joined by 48 state attorneys general — could have, and should have, been avoided.

That it wasn’t, however, provides key takeaways about where we are now with Big Tech, and, in particular, the method of enforcement of our antitrust laws, whose application has become too tightly wrapped around the axle of price, and captured by the speculative science of economic forecasting. It also reveals just how politicized antitrust enforcement has become — influenced by the siren song of internet exceptionalism and the powerful tug of Google, one of the world’s richest companies. Perhaps the most stunning takeaway in the 2012 documents is the extent to which the recommendations of the FTC’s lawyers sharply differed from those of the agency’s economists, on whose judgment the FTC commissioners ultimately relied in their decision to drop the investigation into Google.

The FTC’s antitrust attorneys concluded that Google was breaking the law by “banishing potential competitors” with a series of exclusionary contracts on mobile phones — much of which forms the basis for the lawsuit brought nearly a decade later by the Trump Department of Justice. The FTC’s economists, however, demurred, insisting that claims of Google’s market dominance were unfounded and would soon give way to competition. This required a markedly un-curious treatment of key facts.

Read more …

Whatever Big Oil backs can never be good.

Big Oil Backs Carbon Tax (Reason)

Executives from leading oil companies, including ExxonMobil, BP, Chevron, ConocoPhillips, and the American Petroleum Institute (API), met virtually with Biden administration officials to discuss policies aimed at addressing the problem of man-made climate change. The Wall Street Journal reported that company leaders said that “they wanted to work with the administration and pledged support for policies that would make it more expensive to emit the gases that contribute to climate change.” In a statement issued after the virtual meeting, API CEO Mike Sommers declared, “We are committed to working with the White House to develop effective government policies that help meet the ambitions of the Paris Agreement and support a cleaner future.” The API is rumored to be considering coming out in support of carbon emissions pricing.

ExxonMobil and ConocoPhillips previously endorsed the bipartisan Climate Leadership Council’s (CLC) revenue neutral carbon tax and dividend proposal in which escalating taxes collected on oil and natural gas at the wellhead and on coal at the minehead would be entirely rebated in equal sums to each American as an annual payment. The CLC cites a 2018 study that finds that 70 percent of American households would receive more in dividend payments then they would pay in increased energy prices. Once the CLC’s carbon tax plan is adopted, all other regulations and subsidies aimed at reducing carbon dioxide emissions, such as automobile fuel efficiency and renewable portfolio standards, are supposed to be permanently repealed.

However, lots of climate activists oppose carbon taxes. Why? InsideClimateNews offered the example of Matto Mildenberger, a political scientist at the University of California, Santa Barbara, who has argued that carbon taxes make climate action unpopular because they front load the costs immediately onto consumers while the eventual benefits of lower temperatures, less fierce storms, and lower sea levels stretch into the future. As InsideClimateNews explained: “In the view of Mildenberger and others who’ve studied climate politics around the world, subsidies, regulation, and other policies that provide more immediate and visible benefits—like jobs creation—are a better way to jump-start climate policy, even if they cost more in the short run. That’s because they stimulate investment to help lower the cost of alternative energy, and at the same time help broaden political support for stronger climate policy. New actors with real investments they want to protect and advance will want more aggressive action, and politicians will respond.”

Read more …

Drilling under the Mississippi. Leave it be.

Minnesota Police Ready For Pipeline Resistance (IC)

As you drive toward the Mississippi River’s headwaters from the east, the lakes that open up on either side of the highway are still white-blue with ice. The Mississippi River, however, is flowing. The open water — a trickle compared to the expanse it will become farther south — is a hopeful sign of the end of another long Minnesota winter, but it also has opponents of pipeline construction in the area on edge. Enbridge, the Canadian energy-transport firm, is planning to route its Line 3 pipeline under the Mississippi, near where it crosses Highway 40. In winter, a pollution-control rule bars drilling under the frozen waters. As the ice melts away, so do the restrictions. Those organizing against the project worry that Enbridge could begin tunneling under the Mississippi and other local rivers any day — and the pipeline-resistance movement is getting ready for it.

“They got a lot of money, they got a lot of equipment, but we got a lot of people,” said Anishinaabe water protector Winona LaDuke at an event last week with actor and activist Jane Fonda, which took place in front of the flowing Crow Wing River, not far from where Enbridge seeks to drill under its shores. “Spring is coming. Let’s be outdoorsy.” Enbridge’s Line 3 project began construction four months ago. It was designed to replace a decaying pipeline of the same name; however, a large portion of its 338-mile Minnesota section, which makes up most of the U.S. route, plows through new land and waters. The project would double Line 3’s capacity for carrying tar sands oil, one of the most carbon-intensive fossil fuels in the world, at a moment when a rapid shift away from fossil fuels has become critical to address the climate crisis.

The delicate waterway ecosystems through which the pipeline passes have become the central organizing point of the anti-pipeline, or water protector, movement. Hundreds of rivers, streams, and wetlands face the specter of a tar sands leak after the replacement Line 3 begins operating. And the particularly intensive form of drilling required to tunnel the pipeline under rivers holds its own set of risks during construction.

Read more …

 

 

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God Save the Queen

 

 

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Jul 102020
 


Berenice Abbott Vanderbilt Avenue from East 46th Street, NYC 1935

 

Biden Says His Economic Plan Would Create Five Million New US Jobs (R.)
Kayleigh McEnany Says Trump’s Tax Returns Are Still Under Audit (Axios)
California, Florida, Texas Report Highest Daily COVID19 Death Tolls (CBS)
Mississippi Hospitals Cannot Take Care of Mississippi Patients (MFP)
China Warns Of Unknown Pneumonia Deadlier Than COVID19 In Kazakhstan (SCMP)
IMF Urges ‘Equity-Like’ Government Support For Virus-Hit Firms (R.)
Lack Of COVID Insurance Threatens Hollywood Production (R.)
Harvard Professor Under Fire In Latest Attack On Free Speech (Turley)
Calls To Boycott Goya Foods After CEO Praises President Trump (NPR)
Bank Settlement Could Provide Roadmap To Punishing Epstein Collaborators (JTN)
House Approves Huge Military Budget, More War in Afghanistan (Greenwald)
US Judge Hearing Flynn Case Asks Appeals Court To Reconsider Dismissal (R.)
New Steele Evidence Strengthens Durham Prosecution (Solomon)
Warning (Sven Henrich)

 

 

I’m going to have to come back on the Joe Biden economic plan. Steve Bannon calls Biden’s puppeteers very smart, but I’m not so sure. If all Biden can do is parrot Trump, why not vote for the original? Because the imitation comes with a bit of cancel culture seasoning? Buy America is Trump, has been for four years, Biden can’t steal it. Biden even takes a stab at China for good measure. Very original too. And as for the 5 million jobs Biden “promises”, Trump will simply say 20 million. I just don’t see it.

 

 

New world record, US falls just short of a record:

 

 

 

 

 

 

 

 

 

 

“Former senior Trump adviser Steve Bannon today says that Biden’s Buy America proposal is “very smart” — “the campaign and White House have been caught flat-footed … Biden has very smart people around him, particularly on the economic side.”


Jeff Stein at WaPo: “Peter Navarro crafted a “Buy America” executive order more than 3 months ago but it has been held up over objections from Mnuchin/Kushner. Potentially huge implications for 2020″

Biden Says His Economic Plan Would Create Five Million New US Jobs (R.)

Presumptive Democratic presidential nominee Joe Biden promised on Thursday to spend $700 billion on American-made products and industrial research, which he said would give at least 5 million more people a paycheck during a job-killing pandemic. “I’ll be laser-focused on working families: the middle-class families I came from here in Scranton, not the wealthy investor class,” Biden said in a speech outlining the plan near his childhood hometown in northeastern Pennsylvania. “They don’t need me, but working families do.” The proposals come as Biden, leading President Donald Trump in national opinion polls ahead of the Nov. 3 election, tries to chip away at an incumbent seen by a larger share of voters as a better steward of the economy.

Biden is adding an even bigger price tag to the trillions in economic recovery policies he has promised as the U.S. economy reels from on-and-off coronavirus shutdowns. A record 32.9 million people collected unemployment checks in the third week of June, Labor Department data showed on Thursday. Republican Vice President Mike Pence also toured Pennsylvania on Thursday, telling a business roundtable in the Philadelphia suburb of Malvern that “even in the midst of outbreaks that we’re seeing in Sunbelt states, we are opening up America again.” The dueling visits underscored Pennsylvania’s status as a key election battleground. Trump carried the state in 2016 by a slim margin, the first Republican to do so since 1988, helping elevate him to the White House.

Biden’s announcement was the first prong of his broader economic plan titled “Build Back Better,” which includes proposals to build a clean-energy economy, support caregivers and advance racial equity. “Biden’s willful attack on our jobs, our families, and the American way of life will reverse all the gains we’ve made together and plunge us into economic catastrophe,” Trump campaign spokesman Hogan Gidley said in a statement. Both Biden and Pence were visiting areas that have grown less hospitable to their parties in the Trump era.

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Manhattan DA Cy Vance can get them, and then they can be leaked?! Note: Cy Vance is linked to the Epstein case.

Kayleigh McEnany Says Trump’s Tax Returns Are Still Under Audit (Axios)

White House press secretary Kayleigh McEnany told reporters on Thursday that President Trump’s taxes are still under audit, and that he will not release them until the audit is completed. Trump has claimed for years that his taxes are under “routine audit.” The president’s relentless fight to keep his financial records secret has brought him all the way to the Supreme Court. In a pair of 7-2 rulings, the Supreme Court ruled Thursday that Manhattan prosecutor Cy Vance has the legal right to subpoena records from Trump’s financial institutions, while rejecting, at least for now, the House’s effort to subpoena similar records, Axios’ Sam Baker reports.

Key exchange: REPORTER: “The president, whatever the court says, can release his taxes whenever he likes. Why shouldn’t Americans believe at this point that the president isn’t trying to hide something?” MCENANY: “The media’s been asking this question for four years, and for four years, the president has said the same thing, his taxes are under audit, and when they’re no longer under audit, he will release them.”

McEnany disputed that Trump’s nominees ruled against him on Thursday, noting that the majority decision gave the president the right to challenge subpoenas “on any grounds permitted by state law.” “The justices did not rule against him, in fact it was a unanimous opinion saying that this needs to go back to the district court, and they even recognized that the president has an ample arsenal of arguments that he can make,” she said.
Justices Neil Gorsuch and Brett Kavanaugh, Trump’s two appointees to the Court, sided with liberal members on the 7-2 vote.

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Unstoppable.

California, Florida, Texas Report Highest Daily COVID19 Death Tolls (CBS)

The coronavirus crisis nationwide is not only deepening, it is growing more deadly. The country’s three biggest states — California, Florida and Texas — are reporting their largest single-day death tolls since the pandemic began. There are now 41 states that are reporting increases in average new cases compared to two weeks ago. In California, 149 deaths were reported on Wednesday, the highest single-day number since the pandemic began. “For those that just think, now people are getting it, no one’s dying, that is very misleading,” Governor Gavin Newsom said at his briefing Thursday. The country’s top infectious disease expert, Dr. Anthony Fauci, said he believes the country’s hardest-hit states should consider pausing plans to reopen.


More than 3 million cases of coronavirus have been infected by the virus across the country, and nearly 133,000 people have died nationwide. In Florida, Walt Disney World reopened Thursday to guests who have season passes as the county where Disney is located has seen a 130% increase in coronavirus infections in the last 14 days. Disney is opening up the park to the general public on Saturday. Loyal annual pass holders got first dibs, but the magic won’t quite be the same. As visitors and employees enter, temperatures will be checked, and guests are required to wear masks and social distance. Dr. Terry Adirim, a physician and dean at Florida Atlantic University, was concerned to see the theme park reopen. “I think it’s like pouring gasoline on a fire,” Adirim told CBS News. “I don’t think it’s going to help us drive down our case rates. I think it’s going to do the opposite.”

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#MaskUpMississippi

Mississippi Hospitals Cannot Take Care of Mississippi Patients (MFP)

Mississippi hospitals are “stretched thin,” and Mississippians “will not be able to get the health care (they) need” as the novel coronavirus outbreak accelerates across the state, top health experts warned during a dire press conference this morning. Already, State Health Officer Dr. Thomas Dobbs said, five of the state’s largest hospitals have already run out of ICU beds for critical patients. “At the (University of Mississippi) Medical Center, we are full. Many days, we have more patients than we have rooms,” UMMC Vice Chancellor LouAnn Woodward said as she stood in front of a podium with a poster and the hashtag, “#MaskUpMississippi” covering the front of it.

The cast of health experts, which included physicians from across the state as well as representatives from the Mississippi State Department of Health and the Mississippi State Medical Association, warned that at the current rate of COVID-19’s spread, the state risks a New York City-level crisis. “Mississippi hospitals cannot take care of Mississippi patients,” Dr. Dobbs told a room of reporters this morning. [..] “We are speaking for the health-care workforce of the state of Mississippi. We are begging, and we are asking for the people of Mississippi to get on board with us,” said Dr. Woodward, who noted that Mississippi “went from shelter-in-place to wide open, whether official or not official.”

[..] The virus’ spread had begun to slow in Mississippi during May, as Gov. Tate Reeves began to reopen some businesses. By the second half of June, as the governor began a broad reopening of state businesses, Mississippi averaged just 11 novel coronavirus deaths per day, down from an average of 15 per day in May. In July so far, the state has averaged 15 deaths per day. Deaths rose sharply in the past two days, though, with MSDH confirming a record 34 new deaths on Tuesday and another 30 on Wednesday. Cases have also risen at record rates, with health officials announcing 705 additional cases per day on average since July 1. In June, the state averaged about 390 cases per day.

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“Unknown Pneumonia”. A familiar term.

China Warns Of Unknown Pneumonia Deadlier Than COVID19 In Kazakhstan (SCMP)

The Chinese embassy in Kazakhstan has warned of a deadly “unknown pneumonia” after the former Soviet republic reported a spike in pneumonia cases since June. “The death rate of this disease is much higher than the novel coronavirus. The country’s health departments are conducting comparative research into the pneumonia virus, but have yet to identify the virus,” the embassy said in a warning to Chinese citizens in the country. While the Chinese embassy described the illness as an “unknown pneumonia”, Kazakhstani officials and media have only said it is pneumonia. It was not clear why the Chinese embassy had described the illness as “unknown” or what information it had about the pneumonia.


The embassy’s website, citing local media reports, said the provinces of Atyrau and Aktobe and the city of Shymkent have reported significant spikes in pneumonia cases since the middle of June. Shymkent and the capital city of Atyrau are 1,500km (930 miles) apart, while the distance between the capital cities of Atyrau and Aktobe is 330km (205 miles). The Chinese embassy said that so far there have been nearly 500 pneumonia cases in the three places, with over 30 people in a critical condition. The country as a whole saw 1,772 pneumonia deaths in the first part of the year, 628 of which happened in June, including some Chinese nationals, the embassy continued.

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What, central banks can’t do enough?

IMF Urges ‘Equity-Like’ Government Support For Virus-Hit Firms (R.)

International Monetary Fund Chief Economist Gita Gopinath urged governments to shift to “equity-like” support from one focused on loans as the coronavirus pandemic inflicts prolonged damage on companies. Gopinath said the massive scale of the shock meant more firms will become insolvent as they suffer lower revenues for many months. Government support in the form of loans would saddle such companies with huge debt, which would serve like a tax that makes it difficult for them to emerge from the crisis, she said. “Because there’s a bigger insolvency issue here, government support would have to shift more towards being equity-like as opposed to debt-like. Otherwise, you would end up with a lot of firms that exit this crisis with a huge amount of debt over-hang,” she said.


“If the lending takes form more like equity … then that’s less onus on the firms. That will make it easier for firms to recover from the crisis,” Gopinath said in a webinar co-hosted by the IMF and the University of Tokyo on Friday. She did not elaborate on how such financing support would work. During its domestic banking crisis in the late 1990s, Japan injected capital into firms via schemes where state-affiliated bodies bought preferred shares issued by these firms. Gopinath said any recovery of the global economy will be “highly uneven and highly uncertain,” urging countries to continue deploying aggressive fiscal and monetary stimulus measures to support their economies.

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Re-runs far into the future.

Lack Of COVID Insurance Threatens Hollywood Production (R.)

Insurers have largely stopped covering independent film and television productions against the risk of COVID-19 illness, a shift that threatens the supply of new entertainment in 2021, Hollywood producers, insurers and industry experts said. Thousands of shoots around the world shut down abruptly in March as the novel coronavirus spread and governments imposed lockdowns. Now as filmmakers try to get back to work they are finding insurers have largely stopped providing the COVID-19 coverage they need to secure financing. Some insurers are even adding exclusions for COVID-19 or communicable diseases to existing policies when cast members get medical exams, insurance lawyer Kirk Pasich told Reuters.


Without coverage, many producers cannot get the completion bond, or guarantee, that banks require to lend to productions. Until crews can work safely again and insurance covers COVID-related costs, “there will be less content of the caliber that we’re used to,” independent film producer Robert Salerno told Reuters. Insurers, already reeling from other pandemic claims, say they cannot offer the coverage because it is unclear how the pandemic will play out.

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The list of 593 signatories to the letter Turley is talking about may well be the strongest condemnation of academia I’ve ever seen. You can flush them all down the loo. Useless to society. Useful only to their own careers.

Harvard Professor Under Fire In Latest Attack On Free Speech (Turley)

By any measure, Harvard Professor Steven Pinker, who holds the Johnstone Family Chair of Psychology, is one of the most influential intellectual leaders in the world. He is also someone who believes in robust intellectual discourse and free thought and speech. That propensity for academic freedom has now made him a target of hundreds of academics and graduate students who are seeking his removal from the Linguistic Society of America. The letter is one of the most chilling examples of the new orthodoxy that has taken over our academic institutions. The signatories seek his removal for holding opposing views on issues like underlying causes of police shootings and other research. The cited grievances are at best nuanced and at worst nonsensical.

Yet, hundreds signed their names and academic affiliations to try to punish a professor for holding opposing views to their own. We have been discussing these cases across the country including a similar effort to oust a leading economist from the University of Chicago. It is part of a wave of intolerance sweeping over our colleges and our newsrooms — a campaign that will devour its own in the loss of academic freedoms and free speech. (I should note that I do not know Dr. Pinker and, to the best of my knowledge, I have never met him). The campaign against Pinker is based on a small number of tweets where he dares to challenge the views of his colleagues and others on issues related to police shootings. There was a time when it would have been viewed as a shameful betrayal of our profession to retaliate against a fellow academic in this way.

Now, hundreds (shown below) seek to have their names associated with an effort to punish a professor for his challenging a new orthodoxy in academia. As a blog focused on free speech and academic freedom issues, the merits of these disagreements is less important than the effort to silence or punish opposing views. However, the underlying postings (and Pinker’s apparent viewpoints) are relevant to understanding the growing intolerance for conflicting viewpoints. We will briefly discuss the six objections below. In so doing, I will have spent more written analysis addressing the attacks on Pinker than these academics and students spent in accusing him of the most vile predilections. My complaint is not that his views are beyond criticism. My objection is to the lack of substantial evidence or analysis, and, most importantly, the effort to remove him from a key academic group. Indeed, the letter states many of the signatories want him to be effectively barred from academic discourse.

Pinker has been vocal in his opposition to the level of police shootings in our society and has recognized their devastating impact on the African American community. He has however suggested that the level of police shootings may be the result of poor training and the excessive use of force generally by police in the United States. He is not alone in raising that issue. We have previously discussed how the United States has far greater use of lethal force that virtually any other nation. Pinker, and others, have not denied that racism plays a role or that we have systemic racist problems in society. Rather he has suggested that, if we want to reduce police shootings, we may want to consider whether they are being driven by a police culture and common training that tend to escalate the level of force used in these situations.

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What is this country coming to? All parrots all the time?

Calls To Boycott Goya Foods After CEO Praises President Trump (NPR)

Twitter users are calling for a boycott of Goya Foods, a brand most known for its Hispanic-staple food offerings, after the CEO of the company lavished praise on President Trump during a Thursday visit to the White House. Robert Unanue, chief executive of the family-owned operation since 2004, said that the country was “blessed” to have Trump at the helm, during remarks following a roundtable with Hispanic business and political leaders from across the country. “We’re all truly blessed at the same time to have a leader like President Trump, who is a builder,” Unanue said during the Rose Garden speech.

“We have an incredible builder. And we pray. We pray for our leadership, our president, and we pray for our country — that we will continue to prosper and to grow.” Unanue also announced a plan, along with some partners, to donate 1 million cans of Goya chickpeas and 1 million pounds of food to food banks. A statement issued late Thursday by Goya Foods did not address the negative reaction from some in the Hispanic community to Unanue’s White House appearance and praise of Trump. In the statement, Unanue reiterated his support for the president’s Hispanic Prosperity Initiative, which Trump established by executive order at the White House roundtable.

“Our country faces a time of historic challenge but we will meet that challenge together and continue to work towards greatness, focus on a strong recovery, and hold onto the hope for a healthier future for all,” Unanue said in the statement. [..] Unanue, a third-generation Spanish American, enraged many with his remarks at the White House, including some high-profile Democrats, who also signaled that they would no longer support Goya’s products. [..] By Thursday evening, “Goya,” #BoycottGoya, and #Goyaway were trending topics on Twitter.

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We want names.

Bank Settlement Could Provide Roadmap To Punishing Epstein Collaborators (JTN)

If federal prosecutors are looking to punish more than the socialite Ghislaine Maxwell for the late Jeffrey Epstein’s alleged underage sex ring, New York regulators’ settlement this month with Epstein’s former bank may provide an intriguing roadmap. Buried in documents attached to Deutsche Bank’s $150 million penalty agreement with the New York State Department of Financial Services is a long list of suspect activities, including withdrawals of money by lawyers, payments to Russian models and other women, and financial transactions with people previously identified by federal authorities as co-conspirators in Epstein’s prior plea deal on charges of prostitution with a minor more than a decade ago. The story still being unraveled now by federal and state prosecutors is how Epstein managed to allegedly keep his sex empire going after becoming one of America’s most famous registered sex offenders.

Experts say the extensive documentation made public with the bank case, including a consent order, places a bullseye over transactions and players in Epstein’s orbit now facing new legal exposure. And it could augment a list of names contained in Epstein’s “black book” of contacts that investigators have possessed for years. “It seems as if anyone connected to Jeffrey Epstein’s sex trafficking and abuse activity should be extremely concerned by the New York State Department of Financial Services investigation that was announced on Monday,” said J. Robert Flores, a former federal prosecutor and assistant district attorney in Manhattan who specialized in sex crimes and reviewed the settlement documents at the request of Just the News.

[..] When Epstein opened up his Deutsche Bank accounts in 2013, he was a Tier 3 registered sex offender. That alone should have served as the most important red flag to any bank official. In law enforcement and judicial circles, Tier 3 registered sex offenders translate into serial offenders, who usually repeat their crimes. “Immediately following Epstein’s arrest we contacted law enforcement and offered our full assistance with their investigation,” Deutsche Bank explained in a statement. But that was only after Deutsche Bank terminated its relationship with Epstein a few months earlier.

[..] In a statement released on Tuesday, Linda Lacewell, the superintendent of the New York State Department of Financial Services, said Epstein’s accounts paid out “millions of dollars of suspicious transactions” that Deutsche Bank “inexcusably failed to detect or prevent.” The investigation findings included: • payments to individuals publicly alleged to have been Epstein’s co-conspirators connected to his 2007 non-prosecution agreement; • settlement payments to law firms totaling over $7 million, as well as dozens of payments to law firms totaling over $6 million for what appear to have been the legal expenses of Epstein and his co-conspirators; • payments to Russian models, payments for women’s school tuition, hotel and rent expenses, and payments directly to numerous women with Eastern European surnames; • periodic suspicious cash withdrawals by one of his agents, totaling more than $800,000 over approximately four years; • “The Butterfly Trust” account that paid the co-conspirators and other parties; • a Gratitude America account.

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House Democrats side WITH Liz Cheney and AGAINST their own Tulsi Gabbard. Okay! But why would anyone vote anymore?

House Approves Huge Military Budget, More War in Afghanistan (Greenwald)

While the country is subsumed by both public health and an unemployment crisis, and is separately focused on a sustained protest movement against police abuses, a massive $740.5 billion military spending package was approved last week by the Democratic-controlled House Armed Services Committee. The GOP-controlled Senate Armed Services Committee will almost certainly send the package with little to no changes to the White House for signing. As we reported last week, pro-war and militaristic Democrats on the Committee joined with GOP Congresswoman Liz Cheney and the pro-war faction she leads to form majorities which approved one hawkish amendment after the next.

Among those amendments was one co-sponsored by Cheney with Democratic Rep. Jason Crow of Colorado that impeded attempts by the Trump administration to withdraw troops from Afghanistan, and another amendment led by Rep. Ruben Gallego (D-AZ) and Cheney which blocked the White House’s plan to remove 10,000 troop stationed in Germany. While those two amendments were designed to block the Trump administration’s efforts to bring troops home, this same bipartisan pro-war faction defeated two other amendments that would have imposed limits on the Trump administration’s aggression and militarism: one sponsored by Democratic Rep. Tulsi Gabbard to require the Trump administration to provide a national security rationale before withdrawing from the Intermediate-Range Nuclear Forces Treaty (INF) signed with the Soviet Union in 1987, and another to impose limits on the ability of the U.S. to arm and otherwise assist Saudi Arabia to bomb Yemen.

Perhaps most remarkable is the amount of the military budget itself. It is three times more than the planet’s second-highest military spender, China; it is ten times more than the third-highest spender, Saudi Arabia; it is 15 times more than the military budget of the country most frequently invoked by Committee members as a threat to justify militarism: Russia; and it is more than the next 15 countries combined spend on their military. They authorized this kind of a budget in the midst of a global pandemic as tens of millions of newly unemployed Americans struggle even to pay their rent.

How does this happen? How do Democrats succeed in presenting an image of themselves based on devotion to progressive causes and the welfare of the ordinary citizen while working with Liz Cheney to ensure that vast resources are funneled to the weapons manufacturers, defense sector and lobbyists who fund their campaigns? Why would a country with no military threats from any sovereign nation to its borders spend almost a trillion dollars a year for buying weapons while its citizens linger without health care, access to quality schools, or jobs? Who are the people in Congress doing this, and why?

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A judge speaking through his lawyers. Oh, why not? Let’s go full Bizarro. It’s all about running out the clock.

US Judge Hearing Flynn Case Asks Appeals Court To Reconsider Dismissal (R.)

The judge hearing the criminal prosecution against U.S. President Donald Trump’s former adviser Michael Flynn on Thursday asked an appeals court to reconsider a recent decision dismissing the case. U.S. District Judge Emmet Sullivan asked the entire U.S. Court of Appeals for the District of Columbia Circuit to review the June 24 decision that directed him to drop the Flynn case. The Justice Department sought to dismiss the case against Flynn, Trump’s first national security adviser, following pressure from Trump and his allies, leading to criticism that Attorney General William Barr was using his office to help the president’s friends. Sullivan refused to immediately sign off on the dismissal, instead appointing a retired judge to argue in favor of denying the Justice Department’s request.


Sullivan has said he cannot serve as a “rubber stamp” and must carefully review the dismissal request. In a 2-1 decision issued last month, a three-judge panel of the D.C. Circuit directed Sullivan to grant the department’s motion to clear Flynn, who twice pleaded guilty. “This is plainly not the rare case where further judicial inquiry is warranted,” Judge Neomi Rao, a Trump appointee, wrote for the court, adding that Sullivan had intruded on “the executive branch’s exclusive prosecutorial power.” Sullivan’s attorneys told the appeals court the panel decision marked a “dramatic break from precedent” that “threatens to turn ordinary judicial process upside down.”

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Oh wait, there’s Victoria Nuland. Wherever she appears there’s fishy things going on.

New Steele Evidence Strengthens Durham Prosecution (Solomon)

It was in London that the whole Russia collusion caper began four years ago, so it seems only fitting that as the discredited probe enters its final phase that damning new evidence of the FBI’s failures would emerge back in England. This week when a British judge ruled against the former FBI human source Christopher Steele, the decision delivered more than an order for the former spy’s company to pay damages to two Russian businessmen maligned by his dossier. It also introduced new incontrovertible evidence that bolsters Attorney General William Barr’s and U.S. Attorney John Durham’s probe into whether the FBI engaged in misconduct and criminally deceived the Foreign Intelligence Surveillance Court to win permission to spy on the Trump campaign.

Buried in Justice Mark Warby’s ruling were several new pieces of evidence that answer long lingering questions about just what the FBI knew, and when it knew it. For instance, Congressional Republicans have long questioned when exactly the FBI knew that Steele’s dossier was a product ordered up for the Hillary Clinton campaign and Democratic Party. After all, the bureau never revealed the connection to the FISA court despite its central relevance to the motives of the dossier. Warby’s lengthy ruling unearthed a gem of new evidence to answer the question: Steele kept his own notes of what he told FBI agents the first time he met them on July 5, 2016 in London to discuss his anti-Trump Russia research.

And, Warby revealed, the notes make clear that Steele told his FBI handlers from the get-go that the dossier’s “ultimate client were (sic) the leadership of the Clinton presidential campaign.” So the FBI knew immediately that the dossier it used to justify a FISA warrant targeting the Trump campaign was a political opposition research product designed to help Clinton defeat her Republican opponent and did not divulge the connection. [..] The ruling discloses that officials at the State Department where Hillary Clinton had served as secretary of state were uniquely involved in Steele’s efforts to bring the dossier to attention, including Mrs. Clinton’s former Russia expert Assistant Secretary Victoria Nuland, Clinton’s successor as secretary of state John Kerry and Joe Biden’s former national security adviser Tony Blinken.

Steele “elaborated, by explaining that his understanding in July 2016 was that the FBI officer he met had cleared his lines with the Assistant Secretary of State, Victoria Nuland,” the judge disclosed. And after Trump won the election, the judge added, Steele disclosed he gave copies of his dossier to longtime Clinton friend Strobe Talbot in hopes it would get to the top of the State Department. Talbott “said that he was due to meet a group of individuals at the State Department, and asked Mr Steele to share a copy of the Dossier with him, with a view to him being able to discuss the national security issues raised with these individuals,” the court revealed. “Mr Steele agreed. He did so on the understanding that Mr Talbott had been speaking to the US Secretary of State John Kerry, and Ms Nuland, who knew of the Dossier and its broad content; and that the individuals whom Mr Talbott was due to meet included the then US Deputy Secretary of State, Tony Blinken,” the court added.

[..] Steele admitted to the FBI his ultimate client was Clinton. He admitted he was leaking to the news media. He admitted he didn’t do much to verify his raw allegations. And he admitted he was working political figures in the Clinton sphere to get his allegations into circulation. Such actions have already been deemed to be negligent by prior watchdog reviews. But now Durham has fresh evidence that goes to the issue of intent. The FBI had prior knowledge about these problems and didn’t come clean to the court as required by law and duty. If Durham is building a case that FBI officials conspired to defraud the FISA court and Congress, his team just got some new exhibits from across the Atlantic Ocean.

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Stop calling them markets.

Warning (Sven Henrich)

Raising red flags during a bubble is a thankless job. The crowd gleefully cheers the momentum and as tops are processes anyone voicing contrarian reservations looks to be wrong while the bubble proceeds. I’m a big boy I can handle it. I was faced with the same issue late last year into Q1 this year as they kept chasing stocks into the high heavens before the 35% crash. Oh but it was Covid, nobody could’ve seen this coming. Nonsense. Covid was the trigger but the technical and excess were long building and now we’re in such phase again, except this one may be worse. I know, we live in the age where trillions are tossed around candy by centra banks and governments and everybody’s eyes just glaze over as the numbers defy context and comprehension. But let me throw a bit of reality into the mix and it’s absolutely mind boggling. 5 stocks have just added over half a trillion in market cap in just 6 days. Six days. Ponder that:

And they’re even higher on the open today. I ran the numbers:

5 stocks now have a combined market cap over $6.5 trillion. These very same stocks have added over $1.6 trillion in market cap in 2020:

That would be a feat during any bull market during times of great growth, but in a historical recession? So some of these stocks grabbed some market share during the shutdown, but don’t tell me $AAPL sold more phones during this. It gets worse. Since 2019 these stocks have added over $3.2 trillion in market cap:

Now, if you can convince yourself to believe that these stocks have earnings growth stories to support market cap expansions anywhere near these figures I suppose you can convince yourself to believe anything. During bubbles people will convince themselves of anything. And this is nothing new. After all people convinced themselves that tech’s valuations versus the rest of the economy were justified before.

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