Jun 032019
 


Paul Ranson Apple tree with red fruit 1902

 

Global Recession Fears Mount As Manufacturing Shrinks Across Asia (R.)
How Many People Will Be Retiring in the Years to Come? (St.L.Fed)
Economic Growth Is An Unnecessary Evil (TLE)
Mueller Must Testify Publicly To Answer Three Critical Questions (Turley)
Alan Dershowitz: US ‘Overplayed Its Hand’ on Assange (NM)
The Intelligence Community Needs A House-Cleaning (Matt Taibbi)
Juncker: Not Enough Work To Keep 28 EU Commissioners Busy (EuA)
US Regulators Say Some Boeing 737 MAX Planes May Have Faulty Parts (R>)
Science institute That Advised EU and UN ‘Actually Industry Lobby Group’ (G.)
EU Candidate To Run UN Food Body Will ‘Not Defend’ EU Stance On GMO (G.)
Helsinki’s Radical Solution To Homelessness (G.)

 

 

One tool left: lower interest rates.

Global Recession Fears Mount As Manufacturing Shrinks Across Asia (R.)

Factory activity contracted in most Asian countries last month as an escalating trade war between Washington and Beijing raised fears of a global economic downturn and heaped pressure on policymakers in the region and beyond to roll out more stimulus. Such growth indicators are likely to deteriorate further in coming months as higher trade tariffs take their toll on global commerce and further dent business and consumer sentiment leading to job losses and delays in investment decisions. Some economists predict a world recession and a renewed race to the bottom on interest rates if trade tensions fail to ease at a Group of 20 summit in Osaka, Japan at the end of June, when presidents Donald Trump and Xi Jinping could meet.


In China, Asia’s economic heartbeat, the Caixin/Markit Manufacturing Purchasing Managers’ Index (PMI) showed modest expansion at 50.2, offering investors some near-term relief after an official gauge on Friday showed contraction. The outlook, however, remained grim as output growth slipped, factory prices stalled and businesses were the least optimistic on production since the survey series began in April 2012. PMIs were below the 50-point mark separating contraction from expansion in Japan, South Korea, Malaysia and Taiwan, came below expectations in Vietnam and improved slightly in the Philippines. “The additional shock from the escalated trade tensions is not going to be good for global trade and if demand in the U.S., China and Europe continues to soften, which is very likely, it will bode ill for Asia as a whole,” said Aidan Yao, senior emerging markets economist at AXA Investment Managers.

Read more …

And because of those lower interest rates, very few Americans will be able to retire, let alone at 65. Which makes this St. Louis Fed article outright insane, insulting even.

How Many People Will Be Retiring in the Years to Come? (St.L.Fed)

In this post, I will describe a preliminary estimate of the number of people retiring each month over the next 20 years. I started with the population of workers between the ages of 40 and 65 in 2018 using data gathered by IPUMS-USA. I then used age- and gender-specific mortality rates from the Human Mortality Database to compute how many people are expected to still be alive the next year (at only one year older). I continued iterating this procedure for a few years, assuming that the age-specific mortality rates remain constant over the years I specify. Finally, I counted the number of people reaching age 65 each year, further breaking it down to the averages of those reaching 65 each day and each month. The figure below shows the result of this calculation.

Initially, it is evident that there will be around 10,000 people (taking the total of retiring males and females) turning 65 each day for the next two decades. The right axis indicates the number of people turning 65 each month, which is an easier number to compare with the BLS monthly report on the current employment situation in the U.S. Not surprisingly, the peak corresponds to the retiring of the baby boomers. From 2025 onward, the trend is declining, which is likely because of the baby bust that followed the baby boom.

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Don’t worry, growth will soon be a thing of the past.

Economic Growth Is An Unnecessary Evil (TLE)

In 2012, writing as a lone economics blogger, I put forward a case for why countries should ditch economic growth as a political priority. Long revered as a stalwart of a capitalist society the need to grow has come to overshadow everything else. We prioritise it over our personal health, we prioritise it over the health of the planet and we prioritise it over our happiness. But given that the function of any economy is to provide an environment of subsistence, that could be little short-sighted. Economist Kenneth Boulding once said that we eat in order to achieve the state of being well-fed, and moving our jaws is simply the ‘cost’ of getting there.

We would therefore be mistaken to focus our attention on the act of chewing as the desired end-state when it is simply the price we pay to become fed. But as long as growth is the target of our economic systems people will continue to focus on chewing, which is neither a sustainable nor desirable trait of an economy. Which is why I welcomed news that New Zealand’s Prime Minister Jacinda Ardern has put out a national budget where spending is dictated by what best encourages the “well-being” of citizens, rather than focussing on traditional bottom-line measures like productivity and economic growth.

The government will put an emphasis on goals like community and cultural connection and equity in well-being across generations in what has been described as a “game-changing event” by LSE professor Richard Layard. As part of the framework Ardern has set aside more than $200 million to bolster services for victims of domestic and sexual violence and included a promise to provide housing for the homeless population. New guidance on policy suggests all new spending must advance one of five government priorities: improving mental health, reducing child poverty, addressing the inequalities faced by indigenous Maori and Pacific islands people, thriving in a digital age, and transitioning to a low-emission, sustainable economy.

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But he said he wouldn’t say another word…

Mueller Must Testify Publicly To Answer Three Critical Questions (Turley)

In that twinkling zone between man and myth, Robert Mueller transcends the mundane. Even in refusing to reach a conclusion on criminal conduct, he is excused. As Mueller himself declared, we are to ask him no questions or expect any answers beyond his report. But his motivations as special counsel can only be found within an approved range that starts at “selfless” and ends at “heroic.” Representative Mike Quigley defended Mueller’s refusal to reach a conclusion as simply “protecting” President Trump in a moment of “extreme fairness.” Yet, as I noted previously, Mueller’s position on the investigation has become increasingly conflicted and, at points, unintelligible.

As someone who defended Mueller’s motivations against the unrelenting attacks of Trump, I found his press conference to be baffling, and it raised serious concerns over whether some key decisions are easier to reconcile on a political rather than a legal basis. Three decisions stand out that are hard to square with Mueller’s image as an apolitical icon. If he ever deigns to answer questions, his legacy may depend on his explanations. One of the most surprising disclosures made by Attorney General William Barr was that he and Deputy Attorney General Rod Rosenstein expressly told Mueller to submit his report with grand jury material clearly marked to facilitate the release of a public version.

The Justice Department cannot release grand jury material without a court order. Mueller knew that. He also knew his people had to mark the material because they were in the grand jury proceedings. Thus, Barr and Rosenstein reportedly were dumbfounded to receive a report that did not contain these markings. It meant the public report would be delayed by weeks as the Justice Department waited for Mueller to perform this basic task. Mueller knew it would cause such a delay as many commentators were predicting Barr would postpone the release of the report or even bury it. It left Barr and the Justice Department in the worst possible position and created the false impression of a coverup.

Why would a special counsel directly disobey his superiors on such a demand? There is no legal or logical explanation. What is even more galling is that Mueller said in his press conference that he believed Barr acted in “good faith” in wanting to release the full report. Barr ultimately did so, releasing 98 percent of the report to select members of Congress and 92 percent to the public. However, then came the letter from Mueller.

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“..the Supreme Court. “I suspect that is where this case is headed as well..”

Alan Dershowitz: US ‘Overplayed Its Hand’ on Assange (NM)

Bringing charges against WikiLeaks founder Julian Assange under the Espionage Act is one thing, but legal extradition is going to be far more difficult for merely publishing stolen material, not actually stealing it, according to legal expert Alan Dershowitz. “I think the Trump administration has overplayed its hand, so did the Justice Department,” Dershowitz told “The Cats Roundtable” on 970 AM-N.Y.. “They had a very strong case for extradition when they initially accused him of breaking into a password [-protected machine] to try to get classified material, that’s a crime. “But publishing materials? That’s very different. That’s The New York Times and The Washington Post, and I think Great Britain is going to have a lot of difficulty extraditing Assange to the U.S. to face trial for merely publishing material stolen not by him but by others.”


The case will not be one of espionage but a case of free speech and the First Amendment, according to Dershowitz. I think we’re in for a very interesting First Amendment case, probably the most interesting First Amendment case involving national security since Pentagon Papers.” Dershowitz was one of the lawyers of the Pentagon Papers case related to Watergate and the ultimate impeachment proceedings and resignation of former President Richard Nixon, taking the case to the Supreme Court. “I suspect that is where this case is headed as well,” Dershowitz told host John Catsimatidis.

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“Schiff was gung-ho to declassify “as much as possible about Russia hacking our elections” back in the summer of 2016, but now describes attempts to declassify information about the reasons for the probe as an attempt to “weaponize law enforcement.”

The Intelligence Community Needs A House-Cleaning (Matt Taibbi)

CIA director Gina Haspel crowed to the Washington Post a year ago that disclosing the name of informant Stefan Halper “could risk lives.” It turned out Halper had been outed as a spook in the pages of the New York Times back in 1983, and openly traded on his intelligence past as a professor in England. Where were lives at risk, in the Cambridge University Botanical Garden? We also saw reports that revealing the name of former British spy Christopher Steele would imperil his life. When the Wall Street Journal outed him in January of 2017, Steele responded by telling British media that he was “terrified for his safety.” He added he was going into hiding because he feared a “potentially dangerous backlash against him from Moscow.”

We later found out Steele had more media contacts than the Kardashian family, meeting with (at minimum) the Times, Post, Yahoo!, The New Yorker, CNN and Mother Jones in the space of about seven weeks in September-October 2016. In the years since his report became public, Steele fought through his terror to keep commiserating with the media. He invited a sprawling, laudatory 2018 profile in The New Yorker that described him answering “one of his two phones” in Farnham, a Surrey town with a “beautiful Georgian high street,” where he and his four children live on “nearly an acre of land.” He’s given depositions, negotiated to testify before congress, and been a primary source in several bestselling books. Thanks to such elaborate precautions, he’s managed somehow to avoid assassination since 2016.

[..] The release of the Page warrant turned out to not to compromise anything but the reputation of the FBI and other agencies. The major revelation was the FBI had indeed used Steele, a “compensated” FBI informant as well as a private oppo researcher, as a source despite having “suspended its relationship” with him in October 2016, ostensibly over failure to disclose media contacts. House Intel committee ranking member Adam Schiff knew this information when he conducted his “bombshell” hearing” on March 20, 2017. That was the one in which he and other members questioned not-yet-fired FBI chief James Comey and Rogers, and read out information from the Steele report as if it were factual, not giving any hint that there might be issues with it.

Schiff was gung-ho to declassify “as much as possible about Russia hacking our elections” back in the summer of 2016, but now describes attempts to declassify information about the reasons for the probe as an attempt to “weaponize law enforcement.” The hemming and hawing about “sources and methods” is really a pre-emptive ass-covering campaign. A bunch of these people are about to be highlighted in the upcoming review by Justice IG Michael Horowitz, as well as the larger probe led by former Connecticut U.S. Attorney John Durham. This is why we’ve seen stories that essentially show James Comey and Brennan pointing fingers and blaming the other for using the Steele material.

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“..a million euro per Commissioner, for relocation, staff and the lifelong pension which every Commissioner gets, no matter how long he or she has been in office..”

Juncker: Not Enough Work To Keep 28 EU Commissioners Busy (EuA)

European Commission President Jean-Claude Juncker has urged member states not to name short-term replacements for the Commissioners that have been elected as MEPs, insisting there is not enough work for 28 Commissioners anyway. Five of Juncker’s Commissioners have been elected as MEPs: First Vice President Frans Timmermans, vice-presidents Andrus Ansip and Valdis Dombrovskis, and Commissioners Corina Cretu and Mariya Gabriel. In an interview with BILD am Sontag yesterday (2 June), Juncker made a strong appeal that the member states should not replace them until the end of the mandate in November.


The elected MEPs must decide whether to take their seats before 1 July. If some of the elected Commissioners take their MEP seats, their countries will be without a Commissioner for four months. “Each member state has the right to appoint a new Commissioner for the remaining four months,” Juncker said, adding that “this would cost the European taxpayer a million euro per Commissioner, for relocation, staff and the lifelong pension which every Commissioner gets, no matter how long he or she has been in office, because the member states have decided that this is so. I’m trying to stop this.”

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“If it is in the air by Christmas (Dec. 25) I’ll be surprised – my own view..”

US Regulators Say Some Boeing 737 MAX Planes May Have Faulty Parts (R>)

The U.S. Federal Aviation Administration on Sunday disclosed a new problem involving Boeing Co’s grounded 737 MAX, saying that more than 300 of that troubled plane and the prior generation 737 may contain improperly manufactured parts and that the agency will require these parts to be quickly replaced. The FAA said up to 148 of the part known as a leading-edge slat track that were manufactured by a Boeing supplier are affected, covering 179 MAX and 133 NG aircraft worldwide. Slats are movable panels that extend along the wing’s front during takeoffs and landings to provide additional lift. The tracks guide the slats and are built into the wing.

[..] In a statement issued after the FAA announcement, Boeing said it has not been informed of any in-service issues related to this batch of slat tracks. Boeing, the world’s largest plane maker, said it has identified 20 737 MAX airplanes most likely to have the faulty parts and that airlines will check an additional 159 MAXs for these parts. Boeing said it has identified 21 737 NGs most likely to have the suspect parts and is advising airlines to check an additional 112 NGs. The NG is the third-generation 737 that the company began building in 1997. The affected parts “may be susceptible to premature failure or cracks resulting from the improper manufacturing process,” the FAA said.

[..] Boeing in April said the two fatal crashes had cost it at least $1 billion as it abandoned its 2019 financial outlook, halted share buybacks and lowered production. The company’s shares have fallen by nearly 20 percent since the Ethiopian Airlines crash in March. Some international carriers are skeptical the plane will resume flying by August as some U.S. airlines have suggested. Tim Clark, president of Emirates, told reporters in Seoul that it could take six months to restore operations as other regulators re-examine the U.S. delegation practices. “If it is in the air by Christmas (Dec. 25) I’ll be surprised – my own view,” he said.

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And there’s Monsanto again.

Science Institute That Advised EU and UN ‘Actually Industry Lobby Group’ (G.)

An institute whose experts have occupied key positions on EU and UN regulatory panels is, in reality, an industry lobby group that masquerades as a scientific health charity, according to a peer-reviewed study. The Washington-based International Life Sciences Institute (ILSI) describes its mission as “pursuing objectivity, clarity and reproducibility” to “benefit the public good”. But researchers from the University of Cambridge, Bocconi University in Milan, and the US Right to Know campaign assessed over 17,000 pages of documents under US freedom of information laws to present evidence of influence-peddling.

The paper’s lead author, Dr Sarah Steele, a Cambridge university senior research associate, said: “Our findings add to the evidence that this nonprofit organisation has been used by its corporate backers for years to counter public health policies. ILSI should be regarded as an industry group – a private body – and regulated as such, not as a body acting for the greater good.” In a 2015 email copied to ILSI’s then director, Suzanne Harris, and executives from firms such as Coca-Cola and Monsanto, ILSI’s founder Alex Malaspina, a former Coca-Cola vice-president, complained bitterly about new US dietary guidelines for reducing sugar intake.

“These guidelines are a real disaster!” he wrote. “They could eventually affect us significantly in many ways; Soft drink taxations, modified school luncheon programs, a strong educational effort to educate children and adults to significanty [sic] limit their sugar intake,, curtail advertising of sugary foods and beverages and eventually a great pressure from CDC [the US Center for Disease Control and Prevention] and other agencies to force industry to start deducing [sic] drastically the sugar we add to processed foods and beverages.”

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And more Monsanto. Europe is losing.

EU Candidate To Run UN Food Body Will ‘Not Defend’ EU Stance On GMO (G.)

Europe’s candidate to run the UN’s Food and Agriculture Organisation (FAO), which guides policymakers around the world, has promised the US she will “not defend the EU position” in resisting the global spread of genetically modified organisms (GMOs). In a bid for US support, Catherine Geslain-Lanéelle told senior US officials at a meeting in Washington on 15 May that under her leadership the FAO would be more open to American interests and accepting of GMOs and gene editing, according to a US official record of the meeting seen by the Guardian. The issue has been a longstanding point of conflict in trade talks with the EU, which has adopted a far more cautious approach to biotechnology in food and agriculture.

All GMO imports are subject to strict safety assessments imposed on a case-by-case basis. Plants and animals whose genome has been manipulated through gene editing are deemed to be GMOs and are subject to similar restrictions. The US portrays such restrictions as trade barriers and has demanded they be dropped. In the meeting with officials from the US agriculture and state departments, Geslain-Lanéelle, a former director general of the French agriculture and food ministry who also ran the European Food Safety Authority, signalled she would veer to the US side if she ran the FAO. “She is proud to be European, who she is, and where she comes from; however, she will promote FAO from a global perspective rather than with European Union or French views,” said a US government internal memo.

“She will not defend the EU position on biotechnology and genetically modified organisms. This is not what agriculture needs. She will defend a global project that includes US interests.”

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“..you don’t need to solve your problems before you get a home. Instead, a home should be the secure foundation that makes it easier to solve your problems.”

Helsinki’s Radical Solution To Homelessness (G.)

As in many countries, homelessness in Finland had long been tackled using a staircase model: you were supposed to move through different stages of temporary accommodation as you got your life back on track, with an apartment as the ultimate reward. “We decided to make the housing unconditional,” says Kaakinen. “To say, look, you don’t need to solve your problems before you get a home. Instead, a home should be the secure foundation that makes it easier to solve your problems.” With state, municipal and NGO backing, flats were bought, new blocks built and old shelters converted into permanent, comfortable homes – among them the Rukkila homeless hostel in the Helsinki suburb of Malminkartano where Ainesmaa now lives.

Housing First’s early goal was to create 2,500 new homes. It has created 3,500. Since its launch in 2008, the number of long-term homeless people in Finland has fallen by more than 35%. Rough sleeping has been all but eradicated in Helsinki, where only one 50-bed night shelter remains, and where winter temperatures can plunge to -20C. The city’s deputy mayor Sanna Vesikansa says that in her childhood, “hundreds in the whole country slept in the parks and forests. We hardly have that any more. Street sleeping is very rare now.” In England, meanwhile, government figures show the number of rough sleepers – a small fraction of the total homeless population – climbed from 1,768 in 2010 to 4,677 last year (and since the official count is based on a single evening, charities say the real figure is far higher).

But Housing First is not just about housing. “Services have been crucial,” says Helsinki’s mayor, Jan Vapaavuori, who was housing minister when the original scheme was launched. “Many long-term homeless people have addictions, mental health issues, medical conditions that need ongoing care. The support has to be there.”

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It’s discouraging to think how many people are shocked by honesty and how few by deceit.
– Noel Coward

 

 

 

 

May 172019
 


Caravaggio The seven works of mercy (Sette opere di Misericordia) 1607

 

“Well, I don’t know what will happen now. We’ve got some difficult days ahead. But it really doesn’t matter with me now, because I’ve been to the mountaintop… And I’ve seen the Promised Land. I may not get there with you. But I want you to know tonight, that we, as a people, will get to the Promised Land.”

– Reverend Dr. Martin Luther King Jr, one day before he was murdered

 

What Martin Luther King King won through many hard-fought battles, and in the end through sacrificing his own life, has to be won all over again: freedom, truth, justice. And this time it’s Julian Assange who stands in the frontline. With Chelsea Manning and Edward Snowden by his side. But I know you’re not very likely to agree with that assessment.

For one thing, I picked the kind of headline that will probably make many people not read an essay. But I’m not kidding, and I’m not saying this for effect. Julian Assange is like Martin Luther King in many ways, and he deserves for people to recognize that.

Assange and Dr. King were born in different times, the former 3 years after the latter was murdered. But when anyone wants to talk King’s legacy, then Assange very much IS that legacy. It would be nice if people like Dr. King’s youngest daughter Bernice, who is very vocal on her father’s legacy, would acknowledge this. Her father certainly would have.

What Julian Assange and Martin Luther King have in common is a superior intelligence, combined with unwavering courage and an unrelenting drive for justice and truth. Both men were born so brave they realized that they might have to give their lives for their causes. And then brought that realization into practice. Both in their own way gave their lives for our sins.

Shared intelligence and courage, justice and truth. Unfortunately, another thing the two share is gross and vile sex smears. Which hurt both men much more than anything else thrown at them. Not a coincidence. Sex smears invariably and for good reason work strongest in women. And in Reverend King’s case, his religious following, who were 99% black people. Lose the women and you lose half of your potential support.

In Assange’s case, the smears, which have even been upgraded to ‘rape’, keeps people from standing up for him. Once you have that word attached to you, you will never fully get rid of it no matter what happens. J. Edgar Hoover’s FBI knew this in the 1960’s, and Robert Mueller and James Comey’s FBI certainly never forgot it half a century later.

 

And of course there are many many people saying that Assange is no Martin Luther King, that Dr. King was a much better man than Assange could ever be. I would urge them to study how Dr. King was perceived in the last 10 years of his life. The nation didn’t exactly revere him, far from it. Most didn’t like him at all, he was seen as a troublemaker, including by many black people, who thought he would make their lives even harder. And then there were Hoover’s sex smears.

After his murder, it took just a few years for the first campaign to establish a public holiday in his name to start. 15 years after the murder, in 1983, President Reagan signed it into law. Even if and when such a petition were started in the case of Assange’s death, which we should all hope will be many years away, the odds of it getting anywhere are slim. But the same would have been true in 1965. So there is hope.

Those willing to give their own lives in order to make other people’s lives better, richer, more just, are special people. Not flawless, for that would make them not people, but special. Yes, Jesus is an obvious example. And so is Mahatma Gandhi. And sure, I hear you say Assange is no Jesus and no Gandhi, but the pattern of peaceful resistance cannot be denied.

There are obviously plenty people who fight for what’s right. What makes Assange, Dr. King, Gandhi, Jesus stand out is that they are examples of people standing up to entire empires. They guy standing in front of the tanks in Tienanmen square in 1989 was another one. Dr. King, Gandhi, Jesus were murdered for what they did. The Chinese guy in all probability also was. That leaves us with Assange.

Does he need to die first before we can appreciate and recognize what he has achieved in our names, that he changed the world we live in for good, as in literally for good? Does it really have to end the same way? Julian Assange hasn’t even received his Nobel Peace Prize yet.

 

 

Here’s an article by Roy Peter Clark for the Poynter, November 25, 2014, about the FBI and sex smears.

How the Southern press foiled FBI’s attempt to smear MLK

Is it possible that we have to thank the white Southern press of the 1960s – even the segregationist press – for its restraint in resisting FBI attempts to smear the Rev. Martin Luther King, Jr., with sexual scandal? That question is raised, but not sufficiently developed, in a Nov. 11 New York Times piece written by Yale historian Beverly Gage. She discovered in the files of FBI chief J. Edgar Hoover an uncensored draft of what has been called the “suicide letter.” The letter was part of an elaborate effort to discredit King, who was about to receive the Nobel Peace Prize.


Based on wire taps and audio tapes, the one-page letter, supposedly sent by an outraged black citizen, described in the vivid language of the day examples of King’s marital infidelities and sexual adventures. The writer, actually an FBI agent, threatened to go public in 34 days with details of King’s affairs. “There is only one thing left for you to do,” it read near the end. “You know what it is.”

From the article, a conversation between Gene Patterson, editor of the Atlanta Constitution from 1960-1968, later editor of the St. Petersburg Times, and Howell Raines, political editor of the St. Petersburg Times, who in 1977 published an oral history of the civil rights movement entitled My Soul Is Rested. In that book Patterson describes to Raines how he was approached by the FBI to smear Dr. King:

“An FBI agent was sent to see me with the bugging information that Dr. King had been engaged in extramarital sexual affairs. The FBI agent, obviously under orders of the director, Hoover, because nobody acted without his direction, urged me – he said, ‘Gene,…here you on this paper have raised Dr. King up to be some kind of model American, some kind of saint, some kind of moralist.’ He said, ‘Now, here’s the information, and why don’t you print it?’ The FBI, the secret police of this country!


And I had to explain to him, ‘Look, we’re not a peephole journal. We don’t print this kind of stuff on any man. And we’re not going to do it on Dr. King.’ And I said, ‘Furthermore, I’m shocked that you would be spying on an American citizen, whether it’s Dr. King or some other person because if it can happen to him, it can happen to all of us.’ And I asked him if he thought this wasn’t a misuse of the FBI. But he was highly offended at me, seeing us as an immoral newspaper for not printing back-alley gossip that the secret police of the United States were trying to ruin this man with.”

Patterson told Raines that one of the editors contacted by the FBI was Lou Harris of the Augusta (Ga.) Chronicle, a paper that supported segregation on its editorial pages. Patterson recalls:


“So I had a phone call from Lou Harris one day, and he said, ‘Gene, I had a call from an FBI agent over here, and you’d be amazed at what he told me about Dr. King.’ And I said, ‘Lou, you mean sex exploits.’ …He said, ‘Have you heard about this?’ I said, ‘Yeah, the FBI has been to see me, too.’ And I said, ‘What are you gonna do with it?’ he said, ‘Hell, I wouldn’t print that stuff. That’s beyond the pale.’ And this was a segregationist editor talking to me. And I said, ‘Lou, I’m proud of you. I’m not gonna mess with it either.’”

And then perhaps the most revealing bit.

One night, Patterson found himself on a plane to Atlanta with John Doar, one of Bobby Kennedy’s top aides in the Justice Department. Hoover was a powerful man, but supposedly subject to the direction of the Attorney General. “I want you to tell the attorney general about this,” said Patterson. “He should know what the FBI is up to.”


“Because the more I thought about it,” Patterson said, “the more worried I’d become about the misuse of secret police powers.” Patterson remembered that throughout his narrative, Doar never looked at him, staring straight ahead in stony silence. “And all of a sudden,” said Patterson, “it hit me like a thunderclap that Bobby Kennedy knew about it. I had made Doar very uncomfortable by relating it to him. Not one expression crossed that deadpan face of his. He just did not respond. It was like talking to a dead man.”

A half century after these incidents, the American intelligence and security apparatus have snooping powers well beyond anything that could be imagined by Dr. King, Patterson, and their contemporaries. Imagine the corruption of a J. Edgar Hoover armed with the weapons of the digital age. His original bugging of King, whom he hated and criticized publicly, was not in search of sexual indiscretions. Hoover’s goals were measured by the paranoid politics of his time: that King had consorted with Communists.

 

 

No matter where it leads, no matter what abuses it will bring, I’m going to tell the truth

-Dr. King

 

 

 

 

 

 

May 112019
 


Pierre-Auguste Renoir Riding in the Bois de Boulogne (Madame Henriette Darras or The Ride) 1873

 

Labour Without Energy Is A Corpse; Capital Without Energy Is A Sculpture (Keen)
Traditional Economics Has Absolutely Screwed Us (Tyee)
House Dems To Bundle Numerous Contempt Citations For Trump Advisers (R.)
House Democrat Subpoenas Six Years Of Trump Tax Returns (AP)
FISA Applications Were Illegally Obtained – DiGenova (PJ)
William Barr vs. Eric Holder: A Tale of Two Attorneys General (McConnell)
Fugees Founder, Banker Charged In 1MDB, Obama Campaign Scandal (RT)
Crisis? What Crisis? (Jim Kunstler)
Manning Could Delay US Superseding Indictment Against Assange (Sp.)
Dutch Court Blocks Extradition Of Man To ‘Inhumane’ UK Prisons (G.)
Varoufakis On Eurozone: ‘We Created A Monster’ (Exp.)
70 Migrants Dead After Boat Capsizes Trying To Reach Europe From Libya (G.)
Nearly All Countries Agree To Stem Flow Of Plastic Waste Into Poor Nations (G.)

 

 

First saw this a few days ago, and it slipped from my radar. Now, Steve Keen announced that he got a grant for his work with Tim Garrett and Matheus Grasselli on “developing models of production in which energy plays [a role] in production (and, necessarily, in climate degradation)”. Yes, you read that right: in 2019, economists need to begin the study the role of energy in an economic system, because it’s always been ignored. What a crazy field that is.

Labour Without Energy Is A Corpse; Capital Without Energy Is A Sculpture (Keen)

With the simple insight that “labour without energy is a corpse, and capital without energy is a sculpture”, I realised why economists have failed to properly incorporate the role of energy in production for so long. All previous attempts had treated energy as a third “factor of production”, on an equal footing with Labour and Capital. But that treatment is simply unrealistic. Adding energy on its own to a production process is like letting off a bomb in a factory: it will produce mayhem, not output. Equally, both Labour and Capital are “sterile”, to use the old Physiocratic term: without energy, they can’t produce anything.


Figure 1: The incorrect way to show energy as a factor of production

The correct way to incorporate energy into economic models of production, therefore, is to see energy as an input to both Labour and Capital (in vastly different forms, of course), which enable them to perform useful work. By the Second Law of Thermodynamics, this useful work necessarily results in disorder (waste energy, mainly in the form of waste matter, including CO2). Also by the Second Law, entropy increases globally, even though it can be reduced locally by the application of energy; so the increase in disorder in the waste from production necessarily exceeds the reduction in disorder manifest in output itself (raw materials turned into finished products).


Figure 2: The correct way: Energy as an input to labour and capital, output as necessarily generating waste

This useful work is what we call GDP, though we currently erroneously measure this as the inflation-adjusted sum of all monetary output—which means we add the cost of traffic accidents to GDP. Instead, the true measure of GDP is the sum of all the useful things we produce and consume: in transportation, that is moving a mass from one location to another in a given time, and traffic accidents (and congestion) subtract from it.

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Palm oil or orangutans? For economists, an easy choice.

Traditional Economics Has Absolutely Screwed Us (Tyee)

Capitalism is killing the planet. That is the gist of an exhaustive United Nations report on the bleak state of the world’s biodiversity. One million species face extinction in what has been aptly called a global murder-suicide, driven by a race to commodify ecosystems and externalize the costs of their destruction. If you were looking for a perky read to start your week, this report was not it. However, the collective efforts of 350 leading experts from 51 countries have resulted in the definitive wake-up call for those still doubting the dire consequences of business-as-usual on our one and only planet. A Noah’s ark of iconic species seems bound for oblivion due to our growing collective consumption and population.

Will your children be able to enjoy a world with wild elephants, orcas, or blue whales? Sixty per cent of primate species are threatened with extinction. The taste of a tuna sandwich may soon be consigned to lore. All of this has been happening in plain view but only recently has this become economically relevant by cutting into the bottom line. Up to $577 billion in global crop production is at risk due to collapsing populations of pollinating insects. One-third of commercial fish stocks are in steep decline with another 60 per cent being fully exploited, leaving only seven per cent of the world’s fisheries under safe management. This is exacerbated by regulatory failure where landings may be 50 per cent higher than reported, and illegal fishing accounts for up to one-third of the global catch.

Expanding agriculture is one of the main drivers of exploding extinction rates. Between 1980 and 2000, about 100 million hectares of tropical forests — roughly the area of France and Germany combined — were converted for grazing, monoculture plantations like palm oil, or short-term subsistence farming. Desperate humans and multinational companies both encroach on remaining rainforests, seeing only as far as the next growing season or financial quarter. Why does economics prioritize palm oil over orangutans? Because palm plantations are profitable, producing almost five times the oil yield per hectare of sunflowers, coconut or soybeans. Consumers too unintentionally contribute to this destruction, driving a market for a ubiquitous ingredient found in everything from lipstick to ice cream.

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McGahn, Barr, Mueller, Mnuchin, are these all the same?

House Dems To Bundle Numerous Contempt Citations For Trump Advisers (R.)

U.S. House Judiciary Committee Chairman Jerrold Nadler said lawmakers may bundle numerous contempt citations from different committees into a single resolution that the full House of Representatives could then vote on. “There obviously are going to have to be, perhaps from our committee and certainly from other committees, other contempt citations to enforce subpoenas,” Nadler told reporters. Asked about bundling citations together, the New York Democrat replied: “It’s a great idea. In fact, I suggested it … It just makes sense, to spend as little floor time as possible, to group them together.”


A consolidated contempt vote is among options Democrats are considering in response to Trump’s stonewalling of congressional investigations into his presidency and business investments. Another option is reviving Congress’s “inherent” contempt authority. Some Democrats say that would allow lawmakers to fine uncooperative officials up to $25,000 per day. Some Democrats are also calling for impeachment proceedings against recalcitrant Trump Cabinet members. Nadler said Congress faces “the unprecedented situation in which the administration is essentially stonewalling all subpoenas – we’ve never had this before in American history, so far as I know.”

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They lost two years on the Russia collusion story. Doesn’t look so smart now, does it?

House Democrat Subpoenas Six Years Of Trump Tax Returns (AP)

A top House Democrat on Friday issued subpoenas for six years of Donald Trump’s tax returns, giving the treasury secretary, Steven Mnuchin, and the IRS commissioner, Charles Rettig, a deadline of next Friday to deliver them. Richard Neal, the chairman of the House ways and means committee, issued the subpoenas days after Mnuchin refused to comply with demands to turn over Trump’s returns. Mnuchin told the panel he wouldn’t provide Trump’s tax records because the panel’s request “lacks a legitimate legislative purpose”, as supreme court precedent requires.

Neal reminded the two Trump appointees in a Friday letter that federal law states that the IRS “shall furnish” the tax returns of any individual upon the request of the chairmen of Congress’s tax-writing committees, and that ways and means “has never been denied” a request. The White House and the Democratic-controlled House are waging a multi-front battle over investigations into Trump, with the administration refusing to comply with subpoenas for the unredacted Mueller report and documents related to testimony by the former White House counsel Donald McGahn. If Mnuchin and Rettig refuse to comply with the subpoenas, Neal is likely to file a lawsuit in federal court.

He indicated earlier this week that he was leaning toward filing a court case immediately but changed course after meeting with lawyers for the House. Neal originally demanded access to Trump’s tax returns in early April. He maintains that the committee is looking into the effectiveness of mandatory IRS audits of tax returns of all sitting presidents, a way to justify his claim that the panel has a potential legislative purpose. Democrats are confident in their legal justification and say Trump is stalling in an attempt to punt the issue past the 2020 election. In rejecting Neal’s request earlier this week, Mnuchin said he relied on the advice of the justice department. He concluded that the treasury department was “not authorized to disclose the requested returns and return information”. Mnuchin has also said that Neal’s request would potentially weaponize private tax returns for political purposes.

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I don’t think John Solomon is done yet.

As for the Papadopoulos $10,000 story, how is that an “explosive revelation”? Have known that for a long time.

FISA Applications Were Illegally Obtained – DiGenova (PJ)

Washington attorney Joe diGenova claimed in an interview last night that the Department of Justice inspector general has determined that “the final three FISA extensions were illegally obtained,” and the first one is still being investigated. For the past year, DOJ IG Michael Horowitz has been investigating the FBI’s 2016 surveillance activities and his report is expected later this month or in early June. Washington power couple Joe diGenova and Victoria Toensing appeared on Lou Dobbs’ Fox Business Network show Thursday night to talk about the latest turns in the “SpyGate” saga. “The only question now is whether or not the first FISA was illegally obtained,” diGenova said.

He told Dobbs that the latest revelations in investigative reporter John Solomon’s piece at The Hill, have prompted further investigation from Horowitz’s team. On Thursday, Solomon reported that newly unearthed memos show that a high-ranking government official from the Obama State Department met with former British spy Christopher Steele in October of 2016, and figured out pretty quickly that his dossier was a political hit job intended to slime Donald Trump on behalf of Hillary Clinton’s campaign. [..] DiGenova said the inspector general was unaware of the memos, which were obtained last week through open-records litigation by the conservative group Citizens United. “The Bureau hid those memos from Horowitz. As a result of that, they are doing some additional work on the first FISA,” diGenova explained, adding: “It may be that all four FISAs will have been obtained illegally.”

[..] DiGenova and Toensing shared another explosive revelation on Sebastian Gorka’s Salem Radio talk show “America First” on Thursday. According to Toensing, the FBI tried to frame former Trump campaign adviser George Papadopoulos by having an informant give him $10,000 in cash during a trip to Israel in the summer of 2017. An individual allegedly talked the then-29-year-old into traveling to Israel to make a deal, and invited him to his hotel room. “And there on the bed is $10,000 in cash in a suitcase,” she continued. Papadopoulos took the money and gave it to his lawyer, who has it still. Toensing said when Papadopoulos returned to the United States, he was greeted by FBI agents at Dulles Airport and they started searching through everything that he had “the second he landed.”

She added, “in fact, they already had his baggage from the plane. He couldn’t believe they had his baggage.” “It was a set up!” exclaimed Gorka. “It was a complete set up,” agreed Toensing. DiGenova explained that the Feds already knew that he hadn’t declared that he had $10,000 and were expecting to find the undeclared cash so they could arrest him and “put the thumbscrews on and make him squeal,” as Gorka put it. Worst of all, according to Toensing, “one of the FBI agents said to him, ‘this is what happens when you work for Donald Trump.’”

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Good read. To a large extent, the Democrats made their own bed. Very far from a black and white story.

William Barr vs. Eric Holder: A Tale of Two Attorneys General (McConnell)

Speaker of the House Nancy Pelosi has declared it a “constitutional crisis” that Attorney General William Barr refuses to divulge the small parts of the Mueller report that contain grand-jury material. By a straight party-line vote, the House Judiciary Committee voted to hold Barr in contempt of Congress. What did Pelosi think when Barr’s predecessor, Eric Holder, refused to divulge documents to a congressional committee and was held in contempt? “Ridiculous!” she said. What did Holder and Obama say? That the House subpoena was a violation of “separation of powers.” To partisans, the difference between the cases is obvious. Barr is defending Trump; Holder was Obama’s self-proclaimed “wing man.”

That is enough for many journalists and most politicians. The rest of us might want to know: What is the legal or constitutional difference between Holder’s refusal to provide documents and Barr’s? Here is the background of the Holder contempt. The Bureau of Alcohol, Tobacco, Firearms and Explosives (BATFE), a unit of Holder’s Department of Justice (DOJ), conducted an operation called “Fast & Furious,” intended to track illegal gun sales. In fact it put hundreds of weapons in the hands of Mexican criminal gangs, leading to the death of an American officer. On February 2, 2011, after news of the operation emerged, Holder’s assistant attorney general sent a letter to Congress declaring that the Obama administration had no knowledge of the operation. This letter was false, as Holder later admitted.

A congressional committee wanted to know why it had been misled. BATFE employees leaked to Congress that the department was still suppressing the truth about the operation and retaliating against whistleblowers. The committee wanted to dig into that. It demanded DOJ documents “relating to actions the Department took to silence or retaliate against Fast and Furious whistleblowers,” so that it could determine “what the Department knew about Fast and Furious, including when and how it discovered its February 4 letter was false, and the Department’s efforts to conceal that information from Congress and the public.”

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“..funnelled [over $21 million] personally and through straw donors to President Obama’s 2012 re-election campaign, then lied about it to the Federal Elections Commission in 2015.”

Fugees Founder, Banker Charged In 1MDB, Obama Campaign Scandal (RT)

A founding member of the Fugees is accused of conspiracy to funnel illegal campaign contributions to Barack Obama’s 2012 presidential campaign and lying about it, in a spinoff of the 1MDB corruption scandal. The indictment against Prakazrel “Pras” Michel, 46, was unsealed on Friday, the government says he received over $21 million from Malaysian businessman Low Taek Jho (also known as “Jho Low”) and funnelled it personally and through straw donors to President Obama’s 2012 re-election campaign, then lied about it to the Federal Elections Commission in 2015. Michel was charged with conspiracy to defraud US government, falsifying records, and making a false statement. He appeared before a federal judge in Washington, DC on Friday and pleaded not guilty.


Mr. Michel is extremely disappointed that so many years after the fact the government would bring charges related to 2012 campaign contributions,” said his attorney Barry Pollack. “Mr. Michel is innocent of these charges and looks forward to having the case heard by a jury.” Michel is best known as one of the founding members of the Fugees, an award-winning group that set music charts on fire with ‘Killing me softly’ in 1996 and launched the solo careers of Wyclef Jean and Lauryn Hill. Low, 37, was also charged in the case, adding to the existing indictments against the Malaysian businessman already wanted for conspiring to launder billions of dollars and violating the Foreign Corrupt Practices Act.

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“..he rode on the back of that fraud for two years, as if touring a political landfill on a donkey, leaving the public to stew in anxious hallucinations.”

Crisis? What Crisis? (Jim Kunstler)

Information emerged over the weeks since the Mueller Report’s release that Mr. Mueller and his team knew unequivocally that the Special Counsel’s mission and the FBI operations that preceded it were based on concocted political bullshit supplied by Mrs. Clinton and her network of flunkies and fixers, ranging throughout the permanent DC bureacuracy (a.k.a. the Swamp), to outposts in foreign intel services and the political kitty-litter box known as Ukraine. Mr. Mueller must have suspected this from the outset, but knew for sure by the summer of 2017, and omitted to advise the American public that he had uncovered a fraud. Rather, he rode on the back of that fraud for two years, as if touring a political landfill on a donkey, leaving the public to stew in anxious hallucinations.


What else did Mr. Mueller do, or omit to do? He never engaged US government forensic computer analysts to examine the DNC servers at the heart of RussiaGate story. Rather, he allowed the conclusions to stand of a company called CrowdStrike, hired by the DNC itself to supposedly investigate the theft of emails, especially those of Clinton campaign chairman John Podesta. Mr. Mueller never bothered to interview the one person who might have known exactly who supplied the purloined emails to Wikileaks, namely Julian Assange. Mr. Mueller also did not bother to interview several dozen retired Intel Community computer experts, led by William Binney, former Technical Director of the NSA, who determined that the hack was accomplished by direct download by an insider onto a flash drive.

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This is about what the US wants to add to the Assange charge once he’s been extradited.

Manning Could Delay US Superseding Indictment Against Assange (Sp.)

According to Manning’s legal team, her release was triggered by the expiration of the term of the grand jury that had demanded her testimony. She will be back in court on May 16, trying to convince a new grand jury of what she failed to prove to the last one: that she cannot be forced to cooperate, as she fundamentally disagrees with the concept of a grand jury, which she says use activists’ testimonies against them. “This will go on until they get what they want or she continues to stay in jail,” Joe Lauria, editor-in-chief of Consortium News, told Radio Sputnik’s Loud and Clear Friday. “She’s in a position where she could delay or slow down what the Justice Department wants to do in terms of a superseding indictment against Assange.

Nobody believes that they are going to want to just put him in jail for five years… this initial indictment is a placeholder, and they have a deadline of June 12 to give to British court the charges; the decision has to be made in the UK,” Lauria said. However, there is a way around that, Lauria told hosts Brian Becker and John Kiriakou, called the Doctrine of Specialty, which, according to reference website USLegal.com, is “a principle of international law that is included in most extradition treaties, whereby a person who is extradited to a country to stand trial for certain criminal offenses may be tried only for those offenses and not for any other pre-extradition offenses.” “Once the asylum state extradites an individual to the requesting state under the terms of an extradition treaty, that person can be prosecuted only for crimes specified in the extradition request,” the website notes.

“This doctrine allows a nation to require the requesting nation to limit prosecution to declared offenses.” “In other words, Assange could come to the US based on this very silly charge that he tried to help Chelsea Manning hack into a computer — when she had top secret clearance and total access anyway — clearly he was trying to just help her hide her identity. But, he could come to the US and they could start adding charges there. I suspect that might happen if she doesn’t testify — which she will not do, obviously; she’s made that abundantly clear.” “They clearly need something from her, or they wouldn’t be throwing her back in jail, effectively, because she refuses to testify,” Lauria said. “But she’s not going to say a damn thing; she’s not going to cooperate, at incredible personal expense to herself, and that just goes to show what a person of principle she is.”

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Curious but still..

Dutch Court Blocks Extradition Of Man To ‘Inhumane’ UK Prisons (G.)

Judges in the Netherlands have refused to send a suspected drug smuggler back to the UK because of concerns that conditions in British jails are inhumane. An initial application to extradite the unnamed man, who had been on the run for two years, was refused this week due to the reported state of HMP Liverpool where he would probably be sent.The court of Amsterdam heard how inspectors had found “some of the most disturbing prison conditions we have ever seen” and “conditions which have no place in an advanced nation in the 21st century”, in reference to report on the state of prisons in the UK published last July.


A surprise inspection of HMP Liverpool in September 2017 found it was infested with rats and that inmates lived in squalid conditions, afraid of being attacked because of increasing violence. Similar conditions were found in HMP Birmingham and HMP Bedford. The Dutch judges said on Wednesday they were concerned the man, who was wanted in relation to cocaine and heroin smuggling on Merseyside, was at “real risk of inhuman or degrading treatment” if returned. The man had been made the subject of a European arrest warrant at Liverpool magistrates court in July 2017. His lawyer argued that the extradition should be refused based on the prison inspectors’ reports.

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“.. If you start with a monetary union, you make sure there will not be a democratic political union.”

Varoufakis On Eurozone: ‘We Created A Monster’ (Exp.)

Former Greek financial minister Yanis Varoufakis branded the eurozone “a monster” for allegedly taking away financial oversight from European Union member states. Mr Varoufakis, an outspoken opponent of the European monetary union, claimed the creation of the common currency led to an “undemocratic political union”. Recounting his first meeting with other eurozone Finance Ministers in 2015, Mr Varoufakis said: “When I was in the Eurogroup, Wolfgang Schauble was very clear. The first time he spoke, in my presence, he said –spectacularly and very honestly – ’democracy cannot be allowed to change economic policies.’


Mr Varoufakis continued: “We’ve created a monster. We’ve created a monetary union that has a central bank without a state behind it because the European Central Bank (ECB) doesn’t have a corresponding state. Before the euro, you had the Treasury, the ministry of finance and you had the central banks – correspondence. “The ECB is a gigantic central bank with no state behind it and you’ve got 19 states without a central bank. This is not the way to create a monetary union which is consistent with the political union.” He added: “The fallacy in 1992 with Helmut Kohl and Francois Mitterrand, is that they believed you start with a monetary union and then you move towards a democratic political union. “No. If you start with a monetary union, you make sure there will not be a democratic political union.”

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Not sure the biggest EU monster is a finance one.

70 Migrants Dead After Boat Capsizes Trying To Reach Europe From Libya (G.)

As many as 70 people trying to reach Europe from Libya have drowned after their vessel capsized in the deadliest such incident in the Mediterranean since January. According to survivors, at least 16 of whom were rescued, the boat left Zuwara in Libya, where renewed warfare between rival factions has gripped the capital, Tripoli, in the past five weeks. The vessel capsized 40 miles off the coast of Sfax, south of Tunis, as it headed towards Italy. The survivors reported that a Tunisian fishing boat came to their rescue and transferred them to a Tunisian coastguard vessel.


The incident came as overall number of people reaching Europe has decreased, whilethe journey has become increasingly dangerous. So far this year, 17,000 migrants and refugees have entered Europe via the sea, about 30% fewer than in the same period last year, according to the International Organization for Migration. The IOM said 443 people have reportedly died on Mediterranean crossings since 1 January, compared with 620 in the same period in 2018. The Institute for International Political Studies (ISPI) thinktank said that one person died for every eight people who left Libya from January to April, based on analysis of figures from the Italian interior ministry.

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There’ll always be a dictator somewhere who invites a few million dollars. There’s only one solution: stop producing the stuff. 2 trillion drinks containers were sold in 2018. Cut it out.

Nearly All Countries Agree To Stem Flow Of Plastic Waste Into Poor Nations (G.)

Almost all the world’s countries have agreed on a deal aimed at restricting shipments of hard-to-recycle plastic waste to poorer countries, the United Nations announced on Friday. Exporting countries – including the US – now will have to obtain consent from countries receiving contaminated, mixed or unrecyclable plastic waste. Currently, the US and other countries can send lower-quality plastic waste to private entities in developing countries without getting approval from their governments. Since China stopped accepting recycling from the US, activists say they have observed plastic waste piling up in developing countries. The Global Alliance for Incinerator Alternatives (Gaia), a backer of the deal, says it found villages in Indonesia, Thailand and Malaysia that had “turned into dumpsites over the course of a year”.


“We were finding that there was waste from the US that was just piled up in villages throughout these countries that had once been primarily agricultural communities,” said Claire Arkin, a spokeswoman for Gaia. The legally binding framework emerged at the end of a two-week meeting of UN-backed conventions on plastic waste and toxic, hazardous chemicals that threaten the planet’s seas and creatures. The pact comes in an amendment to the Basel convention. The US is not a party to that convention so it did not have a vote, but attendees at the meeting said the country argued against the change, saying officials didn’t understand the repercussions it would have on the plastic waste trade.

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May 102019
 


James McNeill Whistler Symphony in White, No. 3 1867

 

US Hikes Tariffs On Chinese Goods, China Says To Strike Back (R.)
Historic Lawsuit Could “Wreak Havoc” On The Leveraged Loan Market (ZH)
The Real Muellergate Scandal (Craig Murray)
From Russiagate to Gunboat Diplomacy (Jacobin)
FBI’s Steele Story Falls Apart (Solomon)
Roger Stone Wins Right To Receive Unredacted Parts of Mueller Report (SC)
Chelsea Manning Released After 2 Months, Might Be Back In Jail In 6 Days (RT)
The Law Being Used to Prosecute Julian Assange Is Broken (Ekeland)
Swedish Prosecutor To Give Decision On Assange Rape Inquiry (G.)
The Revelations of WikiLeaks: No. 2 (Vos)
Facebook Co-Founder Calls For Breakup Of The Company (ZH)
UK Tories Could Come Sixth In European Elections (G.)
America, You Are Fired! (Dmitry Orlov)
Chernobyl Has Become A Refuge For Wildlife 33 Years Later (Conv.)
Ireland Second Country To Declare Climate, Biodiversity Emergency (RTE)

 

 

Keep talking!

US Hikes Tariffs On Chinese Goods, China Says To Strike Back (R.)

U.S. President Donald Trump’s tariff increase to 25% on $200 billion worth of Chinese goods took effect on Friday, and Beijing said it would strike back, ratcheting up tensions as the two sides pursue last-ditch talks to try salvaging a trade deal. China’s Commerce Ministry said it “deeply regrets” the U.S. decision, adding that it would take necessary countermeasures, without elaborating. The hike comes in the midst of two days of talks between top U.S. and Chinese negotiators to try to rescue a faltering deal aimed at ending a 10-month trade war between the world’s two largest economies. Chinese Vice Premier Liu He, U.S. Trade Representative Robert Lighthizer and U.S. Treasury Secretary Steven Mnuchin talked for 90 minutes on Thursday and were expected to resume talks on Friday.


The Commerce Ministry said that negotiations were continuing, and that it “hopes the United States can meet China halfway, make joint efforts, and resolve the issue through cooperation and consultation”. With no action from the Trump administration to reverse the increase as negotiations moved into a second day, U.S. Customs and Border Protection imposed the new 25% duty on affected U.S.-bound cargoes leaving China after 12:01 a.m. EDT (0401 GMT) on Friday. Goods in the more than 5,700 affected product categories that left Chinese ports and airports before midnight will be subject to the original 10% duty rate, a CBP spokeswoman said.

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Don’t worry, Fed to the rescue.

Historic Lawsuit Could “Wreak Havoc” On The Leveraged Loan Market (ZH)

Ask any banker (or analyst) what the difference is between a junk bond and a loan, and you’ll most likely get a blank start in response: starting with the size of the loan market, which is now virtually identical to that of the high yield bond market, continuing through the standardization of loan terms, the growth of secondary trading, and all the way through to “protections” granted to loan investors, which in an age of exclusively covenant-lite issuance, no longer exist, and one can argue that at least superficially, a loan is effectively the same as a junk bond. And yet, there is one critical difference between the two: junk bonds are securities, while loans aren’t. That difference, however, may not be true for much longer.

As Bloomberg reports, a group suing JPMorgan Chase and other banks over a loan that went sour four years ago is alleging the underwriters engaged in securities fraud. If successful, the article contends correctly, the lawsuit will “radically transform the $1.2 trillion leveraged lending market” because should the plaintiff ultimately prevail in arguing that loans are de facto securities, it would dramatically alter how American companies raise debt, according to two industry groups that filed a brief supporting the defendants’ argument last week. “There are absolutely enormous market consequences if a court determines that leveraged loans are securities,” J. Paul Forrester, a partner at Mayer Brown told Bloomberg. “Leveraged loans and lenders would be potentially subject to the same offering and disclosure requirements as securities and would face the same regulatory oversight and enforcement consequences.”

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Well, whaddaya know, there are people who agree with me… The VIPS, Assange, it’s all I’ve been talking about. I said Mueller is a coward and a liar, Murray calls him deeply corrupt. Same difference.

The Real Muellergate Scandal (Craig Murray)

Robert Mueller is either a fool, or deeply corrupt. I do not think he is a fool. I did not comment instantly on the Mueller Report as I was so shocked by it, I have been waiting to see if any other facts come to light in justification. Nothing has. I limit myself here to that area of which I have personal knowledge – the leak of DNC and Podesta emails to Wikileaks. On the wider question of the corrupt Russian 1% having business dealings with the corrupt Western 1%, all I have to say is that if you believe that is limited in the USA by party political boundaries, you are a fool. On the DNC leak, Mueller started with the prejudice that it was “the Russians” and he deliberately and systematically excluded from evidence anything that contradicted that view.

Mueller, as a matter of determined policy, omitted key steps which any honest investigator would undertake. He did not commission any forensic examination of the DNC servers. He did not interview Bill Binney. He did not interview Julian Assange. His failure to do any of those obvious things renders his report worthless. There has never been, by any US law enforcement or security service body, a forensic examination of the DNC servers, despite the fact that the claim those servers were hacked is the very heart of the entire investigation. Instead, the security services simply accepted the “evidence” provided by the DNC’s own IT security consultants, Crowdstrike, a company which is politically aligned to the Clintons.

That is precisely the equivalent of the police receiving a phone call saying: “Hello? My husband has just been murdered. He had a knife in his back with the initials of the Russian man who lives next door engraved on it in Cyrillic script. I have employed a private detective who will send you photos of the body and the knife. No, you don’t need to see either of them.” There is no honest policeman in the world who would agree to that proposition, and neither would Mueller were he remotely an honest man.

[..] Mueller’s failure to examine the servers or take Binney’s evidence pales into insignificance compared to his attack on Julian Assange. Based on no conclusive evidence, Mueller accuses Assange of receiving the emails from Russia. Most crucially, he did not give Assange any opportunity to answer his accusations. For somebody with Mueller’s background in law enforcement, declaring somebody in effect guilty, without giving them any opportunity to tell their side of the story, is plain evidence of malice. Inexplicably, for example, the Mueller Report quotes a media report of Assange stating he had “physical proof” the material did not come from Russia, but Mueller simply dismisses this without having made any attempt at all to ask Assange himself.

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Where would US media be without Russia?

From Russiagate to Gunboat Diplomacy (Jacobin)

One of the things Russiagate skeptics found unsettling about the frenzy over supposed “collusion” was that it made war more likely. Not only did the now-debunked conspiracy theories and resulting political climate push officials into a more aggressive posture toward Russia, but once the Kremlin was returned to its status as the foreign policy elite’s Big Bad, it was easy to imagine a situation where the threat of a Russian bogeyman could be used to justify any number of unrelated foreign adventures. This appears to be exactly what’s happening with Venezuela right now. First there was Fareed Zakaria, who two months ago tried to goad Trump into attacking Venezuela by pointing to Russia’s support for Maduro.

“Putin’s efforts seem designed to taunt the United States,” he said (it might also have something to do with the billions of dollars Russia sank into the country), making reference to the Monroe Doctrine. He asked if Washington would “allow Moscow to make a mockery of another American red line,” warning that “if Washington does not back its words with deeds” the country could become another Syria. Zakaria concluded: “will Venezuela finally be the moment when Trump finally ends his appeasement?” More recently, Secretary of State Mike Pompeo charged that Russia had “invaded” Venezuela before claiming the Kremlin had dissuaded Maduro from fleeing the country at the last moment, something Pompeo has provided no evidence for but much of the media has treated as fact since.

National Security Advisor John Bolton has said that “this is our hemisphere” and “not where the Russians ought to be interfering.” Democratic Sen. Doug Jones echoed this sentiment on CNN, praising the Trump administration for saying “all options are on the table” to deal with Venezuela, something he suggested may have to be acted on “if there is some more intervention [by] Russia.” The national press, taking a break from warning about Trump being a dangerous authoritarian, has been demanding to know why he hasn’t been more aggressive toward the country over this. Particularly shameless was Florida Rep. Mario Díaz-Balart, who went on Tucker Carlson’s show to peddle half-baked innuendo as brazen as anything claimed in the lead up to the Iraq War. If Maduro’s government survived, he claimed, it would be “a green light, an open door for the Russians and for the Chinese and for others to increase their activity against our national security interest right here in our hemisphere.”

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John Solomon digs on. “She quoted Steele as saying, “Payments to those recruited are made out of the Russian Consulate in Miami..” [..] “It is important to note that there is no Russian consulate in Miami.”

FBI’s Steele Story Falls Apart (Solomon)

The FBI’s sworn story to a federal court about its asset, Christopher Steele, is fraying faster than a $5 souvenir T-shirt bought at a tourist trap. Newly unearthed memos show a high-ranking government official who met with Steele in October 2016 determined some of the Donald Trump dirt that Steele was simultaneously digging up for the FBI and for Hillary Clinton’s campaign was inaccurate, and likely leaked to the media. The concerns were flagged in a typed memo and in handwritten notes taken by Deputy Assistant Secretary of State Kathleen Kavalec on Oct. 11, 2016. Her observations were recorded exactly 10 days before the FBI used Steele and his infamous dossier to justify securing a Foreign Intelligence Surveillance Act (FISA) warrant to spy on Trump campaign adviser Carter Page and the campaign’s contacts with Russia in search of a now debunked collusion theory.

It is important to note that the FBI swore on Oct. 21, 2016, to the FISA judges that Steele’s “reporting has been corroborated and used in criminal proceedings” and the FBI has determined him to be “reliable” and was “unaware of any derogatory information pertaining” to their informant, who simultaneously worked for Fusion GPS, the firm paid by the Democratic National Committee (DNC) and the Clinton campaign to find Russian dirt on Trump. That’s a pretty remarkable declaration in Footnote 5 on Page 15 of the FISA application, since Kavalec apparently needed just a single encounter with Steele at State to find one of his key claims about Trump-Russia collusion was blatantly false.

In her typed summary, Kavalec wrote that Steele told her the Russians had constructed a “technical/human operation run out of Moscow targeting the election” that recruited emigres in the United States to “do hacking and recruiting.” She quoted Steele as saying, “Payments to those recruited are made out of the Russian Consulate in Miami,” according to a copy of her summary memo obtained under open records litigation by the conservative group Citizens United. Kavalec bluntly debunked that assertion in a bracketed comment: “It is important to note that there is no Russian consulate in Miami.”

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What if the relevant sections did get redacted?

Roger Stone Wins Right To Receive Unredacted Parts of Mueller Report (SC)

A federal judge in Washington ordered the Department of Justice to turn over any unredacted sections of Special Counsel Robert Mueller’s report on Russian activities during the 2016 presidential campaign that relate to Roger Stone. U.S. District Judge Amy Berman Jackson gave the prosecutors until Monday to “submit unredacted versions of those portions of the report that relate to defendant Stone and/or ‘the dissemination of hacked materials.” Judge Jackson would review the material in private to see if it is relevant to the case and to decide whether Stone and his defense team will have access to the material.

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Is this a game?

Chelsea Manning Released After 2 Months, Might Be Back In Jail In 6 Days (RT)

Whistleblower Chelsea Manning has been released from a Virginia prison where she spent the last 62 days for refusing to testify on her 2010 leak of classified military files before a grand jury. Manning was released from William G. Truesdale Adult Detention Center in Alexandria, Virginia, on Thursday after the term of the grand jury before which she was supposed to testify expired, her legal team said in a statement reported by the Sparrow Project. However, the WikiLeaks whistleblower and activist might soon be locked up again and has already been served with another subpoena, requesting that she testifies before a different set of jurors. “Unfortunately, even prior to her release, Chelsea was served with another subpoena.


This means she is expected to appear before a different grand jury, on Thursday, May 16, 2019, just one week from her release today,” her lawyers said. Despite having spent over two months behind bars, Manning has no intention to cave in to the demand and make herself available to a secret grand jury’s questioning, according to the statement. “Chelsea will continue to refuse to answer questions, and will use every available legal defense to prove to District Judge Trenga that she has just cause for her refusal to give testimony.” Manning insists that she already gave an “exhaustive testimony” on all the matters concerning her disclosure of military documents at a 2013 court martial. In an 8-page declaration filed to the Virginia court on May 6, Manning accused the US government of using the “corrupt and abusive tool” of grand jury to “harass and disrupt political opponents and activists.”

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Taking us back to Aaron Schwartz.

The Law Being Used to Prosecute Julian Assange Is Broken (Ekeland)

[..] the UK courts will evaluate the US’s request to send Assange to Virginia to stand trial in federal court for a single felony charge of conspiracy to commit unauthorized access to a government computer, a violation of the Computer Fraud and Abuse Act (CFAA). After Assange’s arrest, many reached out to ask me about the CFAA. For years, I’ve represented hackers in federal criminal cases nationally involving the CFAA, including Lauri Love, whom the US unsuccessfully tried to extradite from the UK. The US indicted Love in three separate federal courts in New York, New Jersey, and Virginia, for hacking of a number of government sites including NASA, the FBI, the United States Sentencing Commission, and the Bureau of Prisons.

This was part of #OpLastResort, in protest of the CFAA prosecution and death of computer science pioneer Aaron Swartz, whose suicide in 2013 was widely viewed as resulting from a draconian CFAA prosecution. Whether intended or not, the CFAA makes it easy for a prosecutor to bring felony computer crime charges even when there’s little or no harm. [..] The core problem with the Computer Fraud and Abuse Act is that it doesn’t clearly define one of the central things it prohibits: unauthorized access to a computer. The courts across the country aren’t any help on this front, issuing conflicting decisions both with other jurisdictions and often within their own. Under the CFAA, what is a felony in one jurisdiction is legal in another.

This lack of definitional clarity allows prosecutors to charge felonies even when the harms are minimal, questionable, or just political views that DOJ doesn’t like. This is a serious problem, given that much political speech and protest these days is done with computers. And DOJ has previously used the CFAA in a politically charged prosecution. In 2011, DOJ charged the politically outspoken Aaron Swartz under the CFAA for going into an open server closet at MIT, a mecca of modern American hacking, and downloading academic articles—many of which were publicly funded—for public distribution. Even though the extent of any harm was questionable—this was a mere copying of articles—DOJ charged him with felony unauthorized access to a computer, unauthorized damage to a protected computer, felony aiding and abetting of both, and wire fraud.

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All Swedes need to be deeply ashamed. Is it too much to ask of you to let your voices be heard? All I hear is silence.

Swedish Prosecutor To Give Decision On Assange Rape Inquiry (G.)

Sweden’s state prosecutor will announce on Monday whether she will reopen a preliminary investigation into a rape allegation against Julian Assange. The WikiLeaks founder is in prison in Britain after he was arrested last month after seven years holed up in the Ecuadorian embassy in London. The US wants to extradite him in a case relating to WikiLeaks’ massive release of sensitive military and diplomatic documents. Sweden’s legal tussle with the Australian Assange has dragged on for nearly a decade after he was accused by two Swedish women of sexual assault and rape in 2010.


The statute of limitations ran out on the sexual assault allegations in 2015 and the prosecutor dropped the investigation into the rape allegation in 2017 because Assange was in the Ecuadorian embassy, where he had taken refuge to avoid extradition. The prosecutor said at the time the investigation could be reopened if the situation changed. After Assange’s arrest last month, the lawyer representing the woman who accused Assange of rape asked for the investigation to be reopened. “At [a] press conference, the prosecutor will announce her decision, which will formally be made immediately before the press conference,” the Swedish prosecution authority said in a statement.

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Elizabeth Lea Vos is compiling a history of all WikiLeaks files.

The Revelations of WikiLeaks: No. 2 (Vos)

Three months after it published the “Collateral Murder” video, WikiLeaks on July 25, 2010 released a cache of secret U.S. documents on the war in Afghanistan. It revealed the suppression of civilian casualty figures, the existence of an elite U.S.-led death squad and the covert role of Pakistan in the conflict, among other revelations. The publication of the Afghan War Diaries helped set the U.S. government on a collision course with WikiLeaks founder Julian Assange that ultimately led to his arrest last month. The war diaries were leaked by then-Army-intelligence-analyst Chelsea Manning, who had legal access to the logs via her Top Secret clearance.

Manning only approached WikiLeaks, after studying the organization, following unsuccessful attempts to leak the files to The New York Times and The Washington Post. A major controversy surrounding the Diaries’ release were allegations that operational details were made public to the Taliban’s battlefield advantage and that U.S. coalition informants’ lives were put at risk by publishing their names. Despite a widely-held belief that WikiLeaks carelessly publishes un-redacted documents, only 75,000 from a total of more than 92,201 internal U.S. military files related to the Afghan War (between 2004 and 2010) were ultimately published.

WikiLeaks explained that it held back so many documents because Manning had insisted on it: “We have delayed the release of some 15,000 reports from the total archive as part of a harm minimization process demanded by our source.” Manning testified at her 2013 court-martial that the files were not “very sensitive” and did not report active military operations.

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Facebook: We’re Not A Monopoly, We’re “A Successful American Company”

Chris Hughes, Zuck’s former roommate, said in a NYT op-ed that Facebook should be split up. The reaction: no, we’re just successful, but we do need new laws, and Zuck himself has some great ideas for that.

Facebook Co-Founder Calls For Breakup Of The Company (ZH)

[..] would-be rivals can’t raise the money to take on Facebook. Nobody would finance them knowing that if they get too powerful, Facebook will run them out of business. Hughes doesn’t blame Zuckerberg for this; after all, he’s simply demonstrating the “virtuous hustle of a talented entrepreneur.” But this is exactly why the government should feel obligated to step in and “break up Facebook’s monopoly and regulate the company to make it more accountable to the American people.” Specifically, Hughes believes the FTC should work with the DoJ to undo the Instagram and Whatsapp acquisitions. There is some precedent for this, he says.

How would a breakup work? Facebook would have a brief period to spin off the Instagram and WhatsApp businesses, and the three would become distinct companies, most likely publicly traded. Facebook shareholders would initially hold stock in the new companies, although Mark and other executives would probably be required to divest their management shares. Until recently, WhatsApp and Instagram were administered as independent platforms inside the parent company, so that should make the process easier. But time is of the essence: Facebook is working quickly to integrate the three, which would make it harder for the F.T.C. to split them up. For what it’s worth, Hughes acknowledges his complicity in creating Facebook, and the fact that he didn’t speak out – or even question the company’s monopoly power – until after Cambridge Analytica.

But that’s the past: Already, support for breaking up big-tech monopolies is gaining traction among Democrats and Republicans alike. The fact that Hughes has decided to criticized his former co-founder (and one-time college buddy) in such a public forum might seem galling to some: After all, Hughes was transformed into a millionaire 500 times over largely because he had the good fortune of being assigned to the same dorm room as Zuckerberg at Harvard. But regardless, now that Hughes has broken the seal, will he inspire more of Facebook’s co-founders and former top employees speak out. It’s worth noting that in March, Chris Cox, one of Zuckerberg’s top deputies and a longtime FB executive, left the company. Cox’s decision to leave was reportedly due to ‘disagreement’s’ that were alluded to in a blog post.

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Torn between multiple lovers. The UK governed by a fringe party.

UK Tories Could Come Sixth In European Elections (G.)

Conservative officials fear the party could come sixth in the European elections, with their support plummeting to single digits. Candidates running in the election said the party was “almost in denial” that the poll was happening and continued to insist they would not need to take up their seats in the European parliament, despite fading prospects for a cross-party deal with Labour that would enable Brexit to happen before 2 July. The fears of a dismal performance have been stoked by the fact that the party plans to spend no money on candidate campaigning, will not publish a manifesto and is refusing to hold a launch.


One MEP said candidates were funding their campaigns out of their own pockets, unlike previous years when there was a central pot of funding available. They have been told they are allowed to have their own regional manifestos, but many are not bothering, and there will be no central party manifesto. “The thinking is that if we make no effort then we will have an excuse for having done so badly. But it is seriously embarrassing,” said one MEP. Another Conservative source said internal data showed the party could do worse than the Brexit party, Labour, the Lib Dems, Change UK and even potentially the Greens, with support at less than 10%. That would translate to only a handful of seats, down from the current 22.

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Nuclear is set to make a come back, because it is the only option to maintain our complex societies. He may have a point there. The ultimate desperation.

America, You Are Fired! (Dmitry Orlov)

Some ironies are just too precious to pass by. The 2016 US presidential elections gave us Donald Trump, a reality TV star whose famous tag line from his show “The Apprentice” was “You are fired!” Focus on this tag line; it is all that is important to this story. Some Trump Derangement Disorder sufferers might disagree. This is because they are laboring under certain misapprehensions: that the US is a democracy; or that it matters who is president. It isn’t and it doesn’t. By this point, the choice of president matters as much as the choice of conductor for the band that plays aboard a ship as it vanishes beneath the waves. I have made these points continuously since before Trump got into office. Whether or not you think that Trump was actually elected, he did get in somehow, and there are reasons to believe that this had something to do with his wonderfully refreshing “You are fired!” tag line.

[..] Financially ruinous and generally nonsensical schemes such as tar sands, shale oil and industrial-scale photovoltaics, wind generation and electric cars will only accelerate the process of sorting nations into energy haves and energy have-nots, with the have-nots wiping themselves out sooner rather than later. Leaving aside various fictional and notional schemes (nuclear fusion, space mirrors, etc.) and focusing just on the technologies that already exist, there is only one way to maintain industrial civilization, and that is nuclear, based on Uranium 235 (which is scarce) and Plutonium 239 produced from Uranium 238 (of which there is enough to last for thousands of years) using fast neutron reactors. If you don’t like this choice, then your other choice is to go completely agrarian, with significantly reduced population densities and no urban centers of any size.

And if you do like this choice, then you have few alternatives other than to go with the world’s main purveyor of nuclear technology (VVER-series light water reactors, BN-series fast neutron breeder reactors and closed nuclear fuel cycle technology) which happens to be Russia’s state-owned conglomerate Rosatom. It owns over a third of the world nuclear energy market and has a portfolio of international projects stretching far into the future that includes as much as 80% of the reactors that are going to be built. The US hasn’t been able to complete a nuclear reactor in decades, the Europeans managed to get just one new reactor on line (in China) while Japan’s nuclear program has been in disarray ever since Fukushima and Toshiba’s financially disastrous acquisition of Westinghouse. The only other contenders are South Korea and China. Again, if you don’t like nuclear—for whatever reason—then you can always just buy yourself some pasture and some hayfields and start breeding donkeys.

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Nuclear anyone?

Chernobyl Has Become A Refuge For Wildlife 33 Years Later (Conv.)

About 30 researchers from the United Kingdom, Ireland, France, Belgium, Norway, Spain and Ukraine presented the latest results of our work. These studies included work on big mammals, nesting birds, amphibians, fish, bumblebees, earthworms, bacteria and leaf litter decomposition. These studies showed that at present the area hosts great biodiversity. In addition, they confirmed the general lack of big negative effects of current radiation levels on the animal and plant populations living in Chernobyl. All the studied groups maintain stable and viable populations inside the exclusion zone. These studies showed that at present the area hosts great biodiversity.

In addition, they confirmed the general lack of big negative effects of current radiation levels on the animal and plant populations living in Chernobyl. All the studied groups maintain stable and viable populations inside the exclusion zone. A clear example of the diversity of wildlife in the area is given by the TREE project (TRansfer-Exposure-Effects, led by Nick Beresford of the UK’s Centre for Ecology and Hydrology). As part of this project, motion detection cameras were installed for several years in different areas of the exclusion zone. The photos recorded by these cameras reveal the presence of abundant fauna at all levels of radiation. These cameras recorded the first observation of brown bears and European bison inside the Ukrainian side of the zone, as well as the increase in the number of wolves and Przewalski horses.

Our own work with the amphibians of Chernobyl has also detected abundant populations across the exclusion zone, even on the more contaminated areas. Furthermore, we have also found signs that could represent adaptive responses to life with radiation. For instance, frogs within the exclusion zone are darker than frogs living outside it, which is a possible defence against radiation. Studies have also detected some negative effects of radiation at an individual level. For example, some insects seem to have a shorter lifespan and are more affected by parasites in areas of high radiation. Some birds also have higher levels of albinism, as well as physiological and genetic alterations when living in highly contaminated localities. But these effects don’t seem to affect the maintenance of wildlife population in the area.


European bison (Bison bonasus), boreal lynx (Lynx lynx), moose (Alces alces) and brown bear (Ursus arctos) in Chernobyl Exclusion Zone (Ukraine). Proyecto TREE/Sergey Gaschack

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Wondering what practical measures they have in mind. Renewables?

Ireland Second Country To Declare Climate, Biodiversity Emergency (RTE)

Ireland has become only the second country in the world to declare a climate and biodiversity emergency. The development came after a Fianna Fáil amendment to the Oireachtas report on Climate Action was accepted by both the Government and Opposition parties without a vote. Chair of the Climate Action Committee, Fine Gael’s Hildegarde Naughton, welcomed the outcome as “an important statement” but added “now we need action.” She said Minister for Climate Action Richard Bruton would speedily return to the Dáil with new proposals, and she looked forward to working “with all parties and none” to scrutinise them.


Green Party leader Eamon Ryan also welcomed the development, but warned that “declaring an emergency means absolutely nothing unless there is action to back it up. That means the Government having to do things they don’t want to do”. Deputy Bríd Smith, of Solidarity/People Before Profit, said she was “delighted” with the declaration, but added it will be “interesting to see” if the Government will support her Climate Emergency Measures Bill next month, which seeks to to limit oil and gas exploration.

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May 092019
 


James Ensor The frightful musicians 1891

 

How Julian Assange Changed Journalism (Stefania Maurizi)
Pamela Anderson’s Assange Blanket Conceals The Truth Of His Detention (G.)
China Backtracked On Nearly All Aspects Of US Trade Deal (R.)
Trump Blames Bolton For Embroiling Him In Potential Venezuelan Quagmire (Week)
Trump Predicts Dem Investigation Will Drive Him To 2020 Win (Hill)
Steele’s Stunning Pre-FISA Confession (Solomon)
Democrats Vote To Hold Attorney General Barr In Contempt Of Congress (G.)
Democrats Showing Contempt By Holding William Barr In Contempt (Turley)
Democrats Know Mueller Can’t Discuss His Report (Schoen)
James Comey Is In Trouble And He Knows It (Hill)
Time to Start Worrying About Global Corporate Debt – Bank of England (DQ)
Greek Bonds Yield Less Than Treasurys – As Irrational As In 2007 (Ashoka Mody)
The Fight to Save Wild Salmon- Have We Reached The End Of Wild? (G.)
Only A Third Of World’s Great Rivers Remain Free Flowing (G.)
Proposal To Spend 25% Of EU Budget On Climate Change (BBC)

 

 

The entire media left Assange to rot in hell. This is from a longer interview with Maurizi. It captures the essence.

How Julian Assange Changed Journalism (Stefania Maurizi)

For me it has been really shocking to witness how Julian Assange has declined in the last nine years. I have been able to see changes in Julian’s health and psychology. It was so sad, and no one could do anything. I could report on it and expose it but the other media and public opinion did absolutely nothing to make the government understand how terrible his treatment was. And all this is happening not in Russia, not in North Korea, this is happening in London, in the heart of Europe. I now realize how little we can do in our democracy.


If you look at what has happened to high-profile whistleblowers like Chelsea Manning and Edward Snowden, and an important publisher like Assange, who had the courage to publish these important revelations, what did your democracy do to save them, to treat them in a human way? Chelsea Manning was put in prison for seven years, where she tried to commit suicide twice. Now she is back in prison. Edward Snowden was forced to leave the U.S. Julian Assange has spent nine years in detainment and no one did anything. We were reporting, we were denouncing, we were exposing how seriously his health was declining. Nothing happened.

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A great example of how it’s done. I stumbled upon this in the Guardian, “Ask Hadley” by one Hadley Freemen. Yes the kind of thing men won’t read, it’s directed at women. Who in this way get told what to think of Assange. The rape smear against him from MI6 et al has been more successful than anything else in turning especially women against him. This is how. It’s vile and it’s very dirty. And this Hadley person has no qualms about throwing another woman, Pamela Anderson, under the bus to do it. Because, you know, of her reputation.

Pamela Anderson’s Assange Blanket Conceals The Truth Of His Detention (G.)

Anderson made a long comment to the handily assembled press ranks outside the jail after her visit. She talked about how horrifically unjust it was that Assange was “really cut off from everybody”, to which you can only answer: “Well then, he should be delighted, given he chose to do exactly that for the past seven years when he holed himself up in the Ecuadorean embassy.” Anderson continued: “He does not deserve to be in a supermax prison. He has never committed a violent act. He is an innocent person.”


‘Nothing makes a woman look more credible than writing “Cromwell” on a blanket and then standing outside a prison.’ Photograph: Gareth Fuller/PA

And again, Ms Anderson, one must beg to remind you that, while that may all be true, no one knows that for certain because – and apologies for bringing up this inconvenient truth yet again – he avoided extradition to Sweden to answer to crimes he is accused of by hiding out in an embassy in Knightsbridge for seven flipping years. You remember that, right? You visited him there. That place where your warrior for truth would – according to Ecuador’s UK ambassador, Jaime Marchán – leave half-eaten meals in the sink. As Andrew O’Hagan explained way back in 2014 when describing what it was like spending time with Assange: “If you asked him to do the dishes, he would say he was trying to free economic slaves in China and had no time to wash up.”


Anderson added: “He is a good man, he is an incredible person. I love him.” She clearly rather fancies herself and Assange as the 21st century’s Marilyn Monroe and Arthur Miller (as opposed to what they actually are, which is a real-life Harley Quinn and Joker from Batman: The Animated Series). Still, good for you, Pamela! Love is a wondrous thing. This column sincerely hopes you have many happy years of washing his dishes ahead of you. Anyway, just in case Anderson’s word salad was not sufficiently persuasive, she also wore a blanket emblazoned with writing that included the words “free speech”, “gagged” and “Cromwell”. Because, honestly, nothing makes a woman look more credible than writing “Cromwell” on a blanket and then standing outside a prison. Anderson is just the latest in a long and not especially noble line of people who have decided that the best way to express themselves is by writing words on their clothing.

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“The talks were so bad that the real surprise is that it took Trump until Sunday to blow up,” the source said.”

China Backtracked On Nearly All Aspects Of US Trade Deal (R.)

The diplomatic cable from Beijing arrived in Washington late on Friday night, with systematic edits to a nearly 150-page draft trade agreement that would blow up months of negotiations between the world’s two largest economies, according to three U.S. government sources and three private sector sources briefed on the talks. The document was riddled with reversals by China that undermined core U.S. demands, the sources told Reuters. In each of the seven chapters of the draft trade deal, China had deleted its commitments to change laws to resolve core complaints that caused the United States to launch a trade war: theft of U.S. intellectual property and trade secrets; forced technology transfers; competition policy; access to financial services; and currency manipulation.

U.S. President Donald Trump responded in a tweet on Sunday vowing to raise tariffs on $200 billion worth of Chinese goods from 10 to 25 percent on Friday – timed to land in the middle of a scheduled visit by China’s Vice Premier Liu He to Washington to continue trade talks. The stripping of binding legal language from the draft struck directly at the highest priority of U.S. Trade Representative Robert Lighthizer – who views changes to Chinese laws as essential to verifying compliance after years of what U.S. officials have called empty reform promises. Lighthizer has pushed hard for an enforcement regime more like those used for punitive economic sanctions – such as those imposed on North Korea or Iran – than a typical trade deal.


“This undermines the core architecture of the deal,” said a Washington-based source with knowledge of the talks. [..] Liu last week told Lighthizer and Mnuchin that they needed to trust China to fulfil its pledges through administrative and regulatory changes, two of the sources said. Both Mnuchin and Lighthizer considered that unacceptable, given China’s history of failing to fulfil reform pledges. One private-sector source briefed on the talks said the last round of negotiations had gone very poorly because “China got greedy”. “China reneged on a dozen things, if not more … The talks were so bad that the real surprise is that it took Trump until Sunday to blow up,” the source said.

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If we could get rid of Bolton and Pompeo this way, great! For now though, Trump doesn’t want to start wars, but he won’t fire the warmongers either.

Trump Blames Bolton For Embroiling Him In Potential Venezuelan Quagmire (Week)

President Trump is having second thoughts about “his administration’s aggressive strategy in Venezuela,” complaining to aides and advisers that “he was misled about how easy it would be to replace the socialist strongman,” President Nicolas Maduro, with opposition leader Juan Guadió, The Washington Post reports. “The president’s dissatisfaction has crystallized around National Security Adviser John Bolton and what Trump has groused is an interventionist stance at odds with his view that the United States should stay out of foreign quagmires.”


Officially, U.S. policy in Venezuela is the same, and last week’s failed effort to oust Maduro has “effectively shelved serious discussion of a heavy U.S. military response,” and “Trump is now not inclined to order any sort of military intervention in Venezuela,” the Post reports, citing current and former officials and outside advisers. Instead, the U.S. is settling in to wait out Maduro on the expectation he will fall on his own, with the help of U.S. sanctions. Russian President Vladimir Putin “is not looking at all to get involved in Venezuela other than he’d like to see something positive happen for Venezuela,” Trump said last week, after a 90-minute phone call with Putin. “And I feel the same way. We want to get some humanitarian aid.” U.S. officials say Russia is deeply involved in backing Maduro.

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A constitutional crisis?

Trump Predicts Dem Investigation Will Drive Him To 2020 Win (Hill)

President Trump, speaking at a rally hours after the White House invoked executive privilege to block the release of special counsel Robert Mueller’s full report, predicted congressional Democrats’ investigations would propel him to a reelection victory in 2020. Trump did not directly address his administration’s decision to defy a subpoena from House Democrats, a move that raised the specter of a constitutional crisis, but he said the party’s desire to probe his administration, campaign and businesses would backfire politically. “They want to do investigations instead of investments,” the president told a crowd of supporters at an outdoor amphitheater just steps from the Gulf of Mexico. “I think it drives us on to victory in 2020.”


Trump said Democrats’ focus on investigations is a “disgrace” and that they should instead work with him on infrastructure, lowering drug prices and improving veterans’ health care. [..] Trump mentioned Barr only in passing during the Wednesday rally but did not address the proceedings. “Now the Democrats — we have a great attorney general — now the Democrats are saying, ‘We want more.’ You know, it was going to be like, ‘We want the Mueller report.’ Now they say, ‘Mueller report? No, we want to start all over again.’”

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This will go far. This is very damning.

Steele’s Stunning Pre-FISA Confession (Solomon)

If ever there were an admission that taints the FBI’s secret warrant to surveil Donald Trump’s campaign, it sat buried for more than 2 1/2 years in the files of a high-ranking State Department official. Deputy Assistant Secretary of State Kathleen Kavalec’s written account of her Oct. 11, 2016, meeting with FBI informant Christopher Steele shows the Hillary Clinton campaign-funded British intelligence operative admitted that his research was political and facing an Election Day deadline. And that confession occurred 10 days before the FBI used Steele’s now-discredited dossier to justify securing a Foreign Intelligence Surveillance Act (FISA) warrant to surveil former Trump campaign adviser Carter Page and the campaign’s ties to Russia.

Steele’s client “is keen to see this information come to light prior to November 8,” the date of the 2016 election, Kavalec wrote in a typed summary of her meeting with Steele and Tatyana Duran, a colleague from Steele’s Orbis Security firm. The memos were unearthed a few days ago through open-records litigation by the conservative group Citizens United. Kavalec’s notes do not appear to have been provided to the House Intelligence Committee during its Russia probe, according to former Chairman Devin Nunes (R-Calif.). “They tried to hide a lot of documents from us during our investigation, and it usually turns out there’s a reason for it,” Nunes told me. Senate and House Judiciary investigators told me they did not know about them, even though they investigated Steele’s behavior in 2017-18.


One member of Congress transmitted the memos this week to the Department of Justice’s inspector general, fearing its investigation of FISA abuses may not have had access to them. Nonetheless, the FBI is doing its best to keep much of Kavalec’s information secret by retroactively claiming it is classified, even though it was originally marked unclassified in 2016. The apparent effort to hide Kavalec’s notes from her contact with Steele has persisted for some time. State officials acknowledged a year ago they received a copy of the Steele dossier in July 2016, and got a more detailed briefing in October 2016 and referred the information to the FBI.

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From what I can see, this is quite weak. Jonathan Turley explains why in the next article: “..the contempt action against Barr is long on action and short on contempt ..”

Democrats Vote To Hold Attorney General Barr In Contempt Of Congress (G.)

House Democrats voted on Wednesday to hold the US attorney general, William Barr, in contempt of Congress, citing his failure to hand over the full, unredacted version of the special counsel Robert Mueller’s report on Russian interference in the 2016 presidential election. The decision came on a day of escalating tensions between Congress and the White House. Earlier on Wednesday, the White House invoked executive privilege to block the House judiciary committee’s request for the full Mueller report and underlying evidence. Later in the day, the House intelligence committee chair, Adam Schiff, subpoenaed Barr for “documents and materials related Special Counsel Robert Mueller’s investigation, including all counterintelligence and foreign intelligence materials produced during the Special Counsel’s investigation, the full unredacted report, and the underlying evidence”.


According to a statement from Schiff’s office, the justice department must produce the documents by 15 May. The Senate intelligence committee, meanwhile, has subpoenaed Donald Trump Jr, two people familiar with the matter told the Associated Press. The panel is calling in the president’s son to answer questions about his 2017 testimony to the panel as part of its investigation into Russian election interference. It is the first known subpoena of a member of Donald Trump‘s immediate family, and a new sign that the Senate panel is continuing with its own Russia investigation even after the release of Mueller’s report on the same subject.

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Jonathan Turley is the Shapiro Professor of Public Interest Law at George Washington University and represented the House of Representatives in its successful challenge to executive actions under the Affordable Care Act..

Democrats Showing Contempt By Holding William Barr In Contempt (Turley)

The House Judiciary Committee is voting to hold Attorney General William Barr in contempt of Congress and to secure a vote of the entire House of Representatives in order to send the matter to federal court. The problem is that the contempt action against Barr is long on action and short on contempt. Indeed, with a superficial charge, the House could seriously undermine its credibility in the ongoing conflicts with the White House. Congress is right on a number of complaints against the White House, including possible cases of contempt, but this is not one of them. As someone who has represented the House of Representatives, my concern is that this one violates a legal version of the Hippocratic oath to “first do no harm.”


This could do great harm, not to Barr, but to the House. It is the weakest possible case to bring against the administration, and likely to be an example of a bad case making bad law for the House. House Judiciary Chairman Jerrold Nadler laid out the case for contempt. He raised three often repeated complaints against Barr in that he failed to release an unredacted report by special counsel Robert Mueller, allegedly lied twice to Congress, and refused to appear before the committee. Yet, notably, the only claim the committee seeks to put before a federal court is the redaction of the report. That seems rather curious since, if Barr lied or refused a subpoena as House leaders claim, it normally would be an easy case of contempt. The reason for this move is that House Democrats know both claims would not withstand even a cursory judicial review.

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David Schoen is a civil rights and criminal defense lawyer.

Democrats Know Mueller Can’t Discuss His Report (Schoen)

When Mueller accepted his appointment as special counsel, he did so fully aware of the federal regulations governing his office. The regulations make it absolutely clear that the special counsel is prohibited from discussing his report publicly. Leading members of Congress now demanding that Mueller testify know he is barred from doing so. The current special counsel regulations were passed while they were members of Congress. In 1978, Congress passed the Ethics in Government Act. It created a process for appointing special prosecutors. This is a different position from special counsels like Mueller. Under the 1978 law, Congress could mandate the appointment of a special prosecutor. Congress could remove the special prosecutor, and the special prosecutor was required to report to Congress. The executive and legislative branches were both a direct part of the process.


However, the law on special prosecutors expired and it was not renewed. In 1999, the special counsel regulations under which Mueller was appointed became law and remain in effect today. These regulations were written and heavily promoted by President Bill Clinton’s administration. They changed the 1978 law in several important ways. Under the current regulations, the special counsel does not report to Congress. Congress cannot require the appointment or removal of a special counsel. These powers and duties lie exclusively with the attorney general. Section 600.9 of the special counsel regulations backed by the Clinton administration places very limited requirements on the attorney general in regard to what he needs to provide to Congress, and he has already exceeded these requirements.

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“A strategy of insulting the executioner right before he swings his ax is an odd one but, then, Comey has a long record of odd decisions and questionable judgment.”

James Comey Is In Trouble And He Knows It (Hill)

James Comey’s planet is getting noticeably warmer. Attorney General William Barr’s emissions are the suspected cause. Barr has made plain that he intends to examine carefully how and why Comey, as FBI director, decided that the bureau should investigate two presidential campaigns and if, in so doing, any rules or laws were broken. In light of this, the fired former FBI director apparently has decided that photos of him on Twitter standing amid tall trees and in the middle of empty country roads, acting all metaphysical, is no longer a sufficient strategy. No, Comey has realized, probably too late, that he has to try to counter, more directly, the narrative being set by the unsparing attorney general whose words in front of the Senate Judiciary Committee last week landed in the Trump-opposition world like holy water on Linda Blair. Shrieking heads haven’t stopped spinning since.


And so we’ve seen Comey get real busy lately. First he penned a curious op-ed in The New York Times. Then a Times reporter, with whom Comey has cooperated in the past, wrote a news article exposing an early, controversial investigative technique against the Trump campaign in an attempt to get out front and excuse it. Next, Comey is scheduled to be encouraged on a friendly cable news “town hall.” In the op-ed, Comey trotted out his now-familiar St. James schtick, freely pronouncing on the morality of others. He sees himself as a kind of Pontiff-of-the-Potomac working his beads, but comes across more like an unraveling Captain Queeg working his ball bearings. Comey adjudged the president as “amoral.” He declared the attorney general to be “formidable” but “lacking inner strength” unlike — the inference is clear — Comey himself. A strategy of insulting the executioner right before he swings his ax is an odd one but, then, Comey has a long record of odd decisions and questionable judgment.

Read more …

[From 2008 to 2016] “the number of Chinese companies issuing bonds soared from just 68 to a peak of 1,451..”

Time to Start Worrying About Global Corporate Debt – Bank of England (DQ)

By 2016, emerging market corporations were issuing ten times more money ($711 billion) than before, much of it in hard foreign currencies (mainly euros, dollars and yen) that will prove much harder to pay back if their local currency slides, as is happening in Turkey and Argentina right now. Although bond issuance by emerging market companies declined by 29% in 2017 and remained around the same level in 2018, it is still approximately 7.5 times higher than the pre-crisis level. Much of the increase has been driven by China as it transitioned from a negligible level of issuance of corporate debt prior to the 2008 crisis to a record issuance amount of $590 billion in 2016.


During that time the number of Chinese companies issuing bonds soared from just 68 to a peak of 1,451 and the total amount of corporate debt in China exploded from $4 trillion to almost $17 trillion, according to BIS data. By late 2018 it had reached $19.7 trillion. “There has been a persistent buildup of private debt to record levels in China,” Cunliffe said. Much of this increase took place in the direct aftermath of the financial crisis. The largest increases have been in the corporate sector, mainly in state-owned enterprises. At last count, China’s corporate debt-to-GDP ratio was 153%, enough to earn it seventh place on WOLF STREET’s leaderboard of countries with the most monstrous corporate debt pileups (as a proportion of GDP), 18 places above the US. This chart compares the rise of non-financial corporate debt in China and the US:

Read more …

“Why would investors expect the euro to appreciate? [..] such a scenario is highly implausible.”

Greek Bonds Yield Less Than Treasurys – As Irrational As In 2007 (Ashoka Mody)

Yields on five-year Greek government bonds are lower than those of U.S. Treasurys — and have been this way for the past month. Yes, on 3- and 5-year bonds, Greece, with its rating deep in junk territory, pays investors less than the double-A-plus-rated U.S. government does. Italian, Portuguese, Spanish and French government bonds — also lower-rated than the U.S. — offer lower, indeed considerably lower, yields than the U.S. government does, even for 10-year maturities. Even if we stipulate that Greece’s government is, in fact, as creditworthy as the U.S. government, why would investors accept a lower yield on the Greek bond? And why are they willing to accept the even lower yields on the bonds of other eurozone governments?

One possible reason is that they expect the euro to appreciate. Despite the low eurozone bond yields, investors may expect eventually to boost their returns by selling the expensive euros and buying cheaper dollars and other currencies. Indeed, there is some basis for such a strategy. As of late April, the consensus among analysts was that the euro will appreciate significantly over the next couple of years, and more modestly thereafter; forward markets (where buyers and sellers settle the price of a future transaction in advance) support this consensus view.


But if expectations of an appreciating euro solve the low-bond-yield puzzle, they raise another, deeper puzzle. Why would investors expect the euro to appreciate? [..] such a scenario is highly implausible. Current growth forecasts point worryingly in the opposite direction. The IMF projects world economic growth to slow more markedly than it already did a year ago. Crucially, of all major economies, those in the eurozone appear to be decelerating particularly quickly.

Read more …

Fish farms kill.

Have We Reached The End Of Wild? (G.)

In salmon’s case, we have interrupted one of the most dramatic cycles of nature, the wild fish’s journey from the rivers where they spawn to the oceans where they grow and back again. The result is that fish have died, species that eat them have died, communities that depend on them have faded, the food supply has been polluted and a lot of tax dollars have been wasted. [..] In an inspired gambit, Artifishal takes a swerve into the metaphyscial, framing the salmon emergency as a question about the human soul, about what it needs – about what we need – to survive.


The contention of the film-makers is that while it may be human nature to seek dominion and control over the rest of nature, the very thing we need to survive is precisely that which defies our control, that thing which, when we seek to subjugate it, instead either slips through our nets, or is caught and dies. If we drive the wild to extinction, the film suggests, we will bring our own that much closer. “I really hope the film leaves the viewer with this disquieting question, which is, have we reached the end of wild?” said Murphy in a phone conversation near the end of a tour to promote the movie, which debuted at the Tribeca film festival after a tour of screenings in Patagonia stores. “At the outset we kept wondering if we would find a bad guy. And we didn’t. In fact, I kept feeling that the force of antagonism was us – we’re the bad guy. Because humans just are always looking out for themselves.”

Read more …

More damage from renewables. There’s no free lunch. The sooner we get that straight, the better.

Only A Third Of World’s Great Rivers Remain Free Flowing (G.)

Only a third of the world’s great rivers remain free flowing, due to the impact of dams that are drastically reducing the benefits healthy rivers provide people and nature, according to a global analysis. Billions of people rely on rivers for water, food and irrigation, but from the Danube to the Yangtze most large rivers are fragmented and degraded. Untouched rivers are largely confined to remote places such as the Arctic and Amazonia. The assessment, the first to tackle the subject on a worldwide level, examined 12m kilometres of rivers and found that just 90 of the 246 rivers more than 1,000km (621 miles) long flowed without interruption.


The scientists, whose research, published in the journal Nature, was led by Günther Grill, at McGill University in Canada, were particularly concerned to discover that only a quarter of long rivers that once flowed freely to the sea, rather than to an inland lake or other river, still had such a course. Separate research in Britain, which included the effects of smaller infrastructure such as weirs, fords and culverts, suggests that 97% of the nation’s river network has been interrupted by human-built structures. Thriving wildlife in rivers is crucial to keeping water clean but freshwater habitats were found to be the hardest hit of all the ecosystems, with wildlife populations having plunged by an average of 83% since 1970 due to dams, overuse of water and pollution.

Great rivers that flow freely are now rare in populated areas. Heavily fragmented rivers include the Danube, Nile, and Euphrates, the Paraná and Missouri in the Americas, the Yangtze and Brahmaputra in Asia, and the Darling in Australia. The Congo and Amazon were found to be among the least affected. The biggest impact comes from physical barriers created by dams, but reservoirs also seriously affect the natural seasonal flow of rivers. “It can be really freaky sometimes, when the electricity is produced one hour on, one hour off, and the river goes up and down by a metre, which is very stressful to the ecosystems downstream,” said Grill. The study estimates that there are about 60,000 large dams worldwide and 3,700 in planning or construction, in addition to millions of smaller dams.

Read more …

A cheap way to get young votes. Don’t fall for it. Thes countries fail even their Paris commitments.

Proposal To Spend 25% Of EU Budget On Climate Change (BBC)

Eight European countries have called for an ambitious strategy to tackle climate change – and to spend a quarter of the entire EU budget on fighting it. The joint statement says the EU should have net-zero greenhouse gas emissions by 2050 “at the latest”. It was signed by France, Belgium, Denmark, Luxemburg, Netherlands, Portugal, Spain, and Sweden. The group says their plan can “go hand in hand with prosperity” and “set an example for other countries to follow.” The position paper comes ahead of a major summit of European leaders in the Romanian city of Sibiu, beginning on Thursday, which will discuss the future of Europe and the EU’s strategy for the next five years. But not everyone is on board – there are 28 countries in the EU, and several of those absent from the joint position statement are significant players – including Germany.


The position of the eight countries is that climate change has “profound implications for the future of humanity” and that its impacts are already apparent – citing “the heat waves and scorching fires of last summer”. [..] “The EU budget currently under negotiation will be an important tool in this respect: at least 25% of the spending should go to projects aimed at fighting against climate change,” the paper said. Annual EU budgets have spending limits set by what is known as the multiannual financial framework (MFF). The current one allowed the EU to spend more than €900bn between 2014-2020. The eight-nation group is eyeing the next framework, which is set to cover 2021-2027. [..] At the moment, EU countries are required to cut greenhouse gas emissions by 20% from their 1990 levels by 2020, with the aim of raising that to a 40% reduction by 2030. But many are set to miss these targets – some by a wide margin.

Read more …

 

 

 

 

May 072019
 


Peter Paul Rubens Daniel in the lions’ den c1615

 

Zero Hedge ran an article about omissions from the Mueller report and/or investigation. It’s instructive, but there is more. First, some bits from that article:

Major Mueller Report Omissions Suggest Incompetence Or A Coverup

Robert Mueller’s 448-page “Investigation into Russian Interference in the 2016 Presidential Election” contains at least two major omissions which suggest that the special counsel and his entire team of world-class Democrat attorneys are either utterly incompetent, or purposefully concealing major crimes committed against the Trump campaign and the American people.

First, according to The Federalist’s Margot Cleveland (a former law clerk of nearly 25 years and instructor at the college of business at the University of Notre Dame) – the Mueller report fails to consider whether the dossier authored by former MI6 spy Christopher Steele was Russian disinformation, and Steele was not charged with lying to the FBI.

“The Steele dossier, which consisted of a series of memorandum authored by the former MI6 spy, detailed intel purportedly provided by a variety of Vladimir Putin-connected sources. For instance, Steele identified Source A as “a senior Russian Foreign Ministry figure” who “confided that the Kremlin had been feeding Trump and his team valuable intelligence on his opponents, including Democratic presidential candidate Hillary Clinton.”


Other supposed sources identified in the dossier included: Source B, identified as “a former top-level Russian intelligence officer still active inside the Kremlin”; Source C, a “Senior Russian Financial Officer”; and Source G, “a Senior Kremlin Official.” -The Federalist

As Cleveland posits: “Given Mueller’s conclusion that no one connected to the Trump campaign colluded with Russia to interfere with the election, one of those two scenarios must be true—either Russia fed Steele disinformation or Steele lied to the FBI about his Russian sources.”

Mueller identified only two principal ways Russia interfered in the 2016 presidential election: “First, a Russian entity carried out a social media campaign that favored presidential candidate Donald J. Trump and disparaged presidential candidate Hillary Clinton. Second, a Russian intelligence service conducted computer-intrusion operations against entities, employees, and volunteers working on the Clinton Campaign and then released stolen documents.”


Surely, a plot by Kremlin-connected individuals to feed a known FBI source—Steele had helped the FBI uncover an international soccer bribery scandal—false claims that the Trump campaign was colluding with Russia would qualify as a “principal way” in which Russia interfered in the 2016 presidential election.

[..] the only lawmaker to even mention this possibility has been Sen. Chuck Grassley (R-IA), who raised the issue with Attorney General William Barr last week: “My question,” said Grassley, “Mueller spent over two years and 30 million dollars investigating Russia interference in the election. In order for a full accounting of Russia interference attempts, shouldn’t the special counsel have considered whether the Steele dossier was part of a Russian disinformation and interfere campaign?” [..] Barr said that he has assembled a DOJ team to examine Mueller’s investigation, findings, and whether the spying conducted by the FBI against the Trump campaign in 2016 was improper.

 

Mueller’s second major oversight – which we have touched on repeatedly – is the special counsel’s portrayal of Maltese professor Joseph Mifsud as a Russian agent – when available evidence suggests he may have been a Western agent.

Weeks after returning from Moscow, Mifsud – a self-described Clinton Foundation member – ‘seeded’ the rumor that Russia had ‘dirt’ on Hillary Clinton with Trump campaign adviser George Papadopoulos on April 26, 2016, according to the Mueller report.

As Rep. Devin Nunes (R-CA) noted on Fox News on Sunday, “how is it that we spend 30-plus-million dollars on this, as taxpayers and they can’t even tell us who Joseph Mifsud is?” “…this is important, because, in the Mueller dossier, they use a fake news story to describe Mifsud. In one of those stories, they cherry- pick it,” Nunes added.

[..] As conservative commentator and former US Secret Service agent Dan Bongino notes of Mifsud, “either we have a Russian asset who’s infiltrated the highest echelons of friendly Intelligence Services, or we have a friendly who was setting up George Papadopoulos.”

 

This poses questions about Mueller, Mifsud and Steele and many other people and organizations involved, but the central question remains unaddressed: did Russia truly meddle and interfere in the 2016 election?

We don’t know, we have only Mueller’s word for that, and he’s ostensibly based it on reports from US intelligence, which has very obvious reasons to smear Russia. That Mifsud is presented as a Russian agent, with all the doubts about that which we have seen presented, doesn’t help this point.

That Steele hadn’t visited Russia since 1993 when he complied his dossier is not helpful either. His information could have originated with “the Russians”, or with US intelligence, and he would never have been the wiser. That is, even IF he was a straight shooter. What are the odss of that?

And of course the strongest doubts about Russian meddling and interference, along with offers of evidence to underline and reinforce these doubts, have been offered by Julian Assange and the Veteran Intelligence Professionals for Sanity (VIPS) group.

But as I’ve repeatedly said before, after Mueller had to let go of the “Russia collusion with the Trump campaign” accusation, he was free to let the “Russian meddling aided and abetted by Julian Assange” narrative stand, beacuse he didn’t have to provide proof for that, as long as he didn’t communicate with either the Russians (easy), the VIPS (whom he stonewalled) or Assange (who’s been completely silenced).

 

So we have -at least- 4 major omissions in the Mueller investigation and report:

1) the Mueller report failed to consider whether the dossier authored by former MI6 spy Christopher Steele was Russian disinformation (and Steele was not charged with lying to the FBI).

2) Mueller’s portrayal of Maltese professor Joseph Mifsud as a Russian agent – when available evidence suggests he may have been a Western agent.

3) Mueller declined to talk to the VIPS, who offered evidence that the DNC servers were not hacked but content was copied onto a disk at the server’s location

4) Mueller refused to hear Julian Assange, who offered evidence that it was not the Russians that had provided WikiLeaks with the emails.

 

Mueller was supposedly trying to find the truth about Trump’s ties to Russia/Putin, and he refused to see and hear evidence from two organizations, WikiLeaks and the VIPS, which he absolutely certainly knew could potentially have provided things he did not know. Why did he do that? There’s only one possible answer: he didn’t want to know.

Why not? Because he feared he would have had to abandon the “Russian meddling and interference” narrative as well. If, as both WikiLeaks and the VIPS insisted, the emails didn’t come from “the Russians”, all that would have been left is an opaque story about “Russians” buying $100,000 in Facebook ads. And that, too, is awfully shaky.

That’s an amount Jared Kushner acknowledged he spent every few hours on such ads during the – multi-billion-dollar – campaign. Moreover, many of these ads were allegedly posted AFTER the elections. And we don’t even know it was Russians who purchased the ads, that’s just another story coming from US intelligence.

It is not so hard, guys. “Omissions” or “oversight” is one way to put it, but there are others. Assange could have cleared himself of any claims of involvement in meddling and perhaps proven Guccifer 2.0 was not “Russian”. His discussions with the DOJ, preparations for which were in an advanced stage of development, were killed in 2017 by then-FBI head James Comey and Rep. Mark Warner.

Mueller never wanted the truth, he wanted to preserve a narrative. The VIPS, too, threatened that narrative by offering physical evidence that nobody hacked the emails. Mueller never reached out. Mueller, the former FBI chief, who must know who these men and women are. Here’s a list, in case you were wondering:

 

Steering Group, Veteran Intelligence Professionals for Sanity
• William Binney, former Technical Director, World Geopolitical & Military Analysis, NSA; co-founder, SIGINT Automation Research Center (ret.)
• Bogdan Dzakovic, former Team Leader of Federal Air Marshals and Red Team, FAA Security (ret.) (associate VIPS)
• Philip Giraldi, CIA, Operations Officer (ret.)
• Mike Gravel, former Adjutant, top secret control officer, Communications Intelligence Service; special agent of the Counter Intelligence Corps and former United States Senator
• James George Jatras, former U.S. diplomat and former foreign policy adviser to Senate leadership (Associate VIPS)
• Larry Johnson, former CIA Intelligence Officer & former State Department Counter-Terrorism Official, (ret.)
• Michael S. Kearns, Captain, USAF (ret.); ex-Master SERE Instructor for Strategic Reconnaissance Operations (NSA/DIA) and Special Mission Units (JSOC)
• John Kiriakou, former CIA Counterterrorism Officer and former Senior Investigator, Senate Foreign Relations Committee
• Karen Kwiatkowski, former Lt. Col., US Air Force (ret.), at Office of Secretary of Defense watching the manufacture of lies on Iraq, 2001-2003
• Clement J. Laniewski, LTC, U.S. Army (ret.)
• Linda Lewis, WMD preparedness policy analyst, USDA (ret.)
• Edward Loomis, NSA Cryptologic Computer Scientist (ret.)
• David MacMichael, former Senior Estimates Officer, National Intelligence Council (ret.)
• Ray McGovern, former US Army infantry/intelligence officer & CIA presidential briefer (ret.)
• Elizabeth Murray, former Deputy National Intelligence Officer for the Near East & CIA political analyst (ret.)
• Todd E. Pierce, MAJ, US Army Judge Advocate (ret.)
• Peter Van Buren,U.S. Department of State, Foreign Service Officer (ret.) (associate VIPS)
• Robert Wing, U.S. Department of State, Foreign Service Officer (former) (associate VIPS)
• Ann Wright, U.S. Army Reserve Colonel (ret) and former U.S. Diplomat who resigned in 2003 in opposition to the Iraq War

 

And then you lead a Special Counsel investigation, you spend 2 years and $30 million, you get offered evidence in what you’re investigating, and you just ignore these people?

And there are still people who want to believe that Robert Swan Mueller III is a straight shooter? They must not want to know the truth, either, then.

Here’s wondering if Bill Barr does, who’s going to investigate the Mueller investigation. Does he want the truth, or is he just the next in line to push the narrative?

Is there anyone in power left in America who has any courage at all to expose this B-rated theater?

Tulsi Gabbard has been reviled for talking to Assad. Why not talk to Assange as well, Tulsi? How about Rand Paul? We know he wanted to talk to Assange last year. Anyone?

 

 

 

 

May 072019
 


Robert Rauschenberg Collection 1954-55

 

Chelsea Manning Declares She will Never Cooperate with Grand Jury (SM)
Major Mueller Report Omissions Suggest Incompetence Or A Coverup (ZH)
Mnuchin Refuses To Release Trump’s Tax Returns To Congress (R.)
A Nuclear War? Over Venezuela? (Ron Paul)
Going South (Jim Kunstler)
Fed Flags High US Business Debt, Asset Prices In Financial Report (R.)
Vancouver Housing Bust Steepens, Bank of Canada Likes “Froth” Coming Off (WS)
Why Renewables Can’t Power Modern Civilization: They Were Never Meant To (F.)
Silent Spring’s Encore (CP)
Human Society Under Urgent Threat From Loss Of Earth’s Natural Life (G.)
Humanity Must Save Insects To Save Ourselves (G.)
Humans ‘Threaten 1 Million Species With Extinction’ (BBC)

 

 

Our best, bravest and brightest. Our conscience. Look what we do to them.

Chelsea Manning Declares She will Never Cooperate with Grand Jury (SM)

Today, attorney Moira Meltzer-Cohen filed a Motion for Chelsea Manning to be released on the basis that, as she will never be convinced to cooperate with the grand jury, further confinement serves no lawful purpose and must be terminated. According to Moira Meltzer-Cohen, attorney to Chelsea Manning: “A witness who refuses to cooperate with a grand jury subpoena may be held in contempt of court, and fined or incarcerated. The only permissible purpose for confinement under the civil contempt statute is to attempt to coerce a witness to comply with the subpoena, or “purge” their contempt. If it is no longer possible to purge the contempt, either because the grand jury is no longer in existence, or because the witness is un-coercible, then confinement has been transformed from coercive into punitive, in violation of the law.

“The key issue before Judge Hilton is whether continued incarceration could persuade Chelsea to testify. Many judges have complained of the “perversity” of this law: that a witness may win their freedom by persisting in their contempt of court. However, should he agree that Chelsea will never agree to testify, he will be compelled by the law to order her release. “Since Ms. Manning is not going to agree to give testimony before the grand jury, she argues, her confinement has exceeded its permissible scope, and she must be released.

“Letters of support were submitted to the Court by Ms. Manning’s friends, family, and colleagues, including from representatives of civil liberties organizations including the ACLU, the Freedom of the Press Foundation, the Electronic Frontier Foundation, and Fight for the Future. These letters reiterate that Chelsea is a person of great moral courage, who will not be swayed into betraying her principles, even in the face of great hardship. “That her confinement has already been so arduous gives credence to her claim that she will endure great hardship rather than agree to cooperate.”

Read more …

There are more oversights than this article mentions.

Major Mueller Report Omissions Suggest Incompetence Or A Coverup (ZH)

First, according to The Federalist’s Margot Cleveland (a former law clerk of nearly 25 years and instructor at the college of business at the University of Notre Dame) – the Mueller report fails to consider whether the dossier authored by former MI6 spy Christopher Steele was Russian disinformation, and Steele was not charged with lying to the FBI. The Steele dossier, which consisted of a series of memorandum authored by the former MI6 spy, detailed intel purportedly provided by a variety of Vladimir Putin-connected sources. For instance, Steele identified Source A as “a senior Russian Foreign Ministry figure” who “confided that the Kremlin had been feeding Trump and his team valuable intelligence on his opponents, including Democratic presidential candidate Hillary Clinton.”

Other supposed sources identified in the dossier included: Source B, identified as “a former top-level Russian intelligence officer still active inside the Kremlin”; Source C, a “Senior Russian Financial Officer”; and Source G, “a Senior Kremlin Official.” -The Federalist As Cleveland posits: “Given Mueller’s conclusion that no one connected to the Trump campaign colluded with Russia to interfere with the election, one of those two scenarios must be true—either Russia fed Steele disinformation or Steele lied to the FBI about his Russian sources.”

Mueller’s second major oversight is the special counsel’s portrayal of Maltese professor Joseph Mifsud was a Russian agent – when available evidence suggests he may have been a Western agent. Weeks after returning from Moscow, Mifsud – a self-described Clinton Foundation member – ‘seeded’ the rumor that Russia had ‘dirt’ on Hillary Clinton with Trump campaign adviser George Papadopoulos on April 26, 2016, according to the Mueller report. As Rep. Devin Nunes (R-CA) noted on Fox News on Sunday, “how is it that we spend 30-plus-million dollars on this, as taxpayers and they can’t even tell us who Joseph Mifsud is?” “…this is important, because, in the Mueller dossier, they use a fake news story to describe Mifsud. In one of those stories, they cherry- pick it,” Nunes added.

Read more …

“.. it lacks “a legitimate legislative purpose.” I do wonder what the purpose is. If it has to do with Russia collusion, the ground is very slippery post-Mueller.

Mnuchin Refuses To Release Trump’s Tax Returns To Congress (R.)

U.S. Treasury Secretary Steven Mnuchin on Monday denied a leading House Democrat’s request for President Donald Trump’s tax returns, setting the stage for a lengthy court battle between lawmakers and the Trump administration. In a May 6 letter, Mnuchin told House Ways and Means Committee Chairman Richard Neal that he would not comply with the Democrat’s April 3 request, saying it lacks “a legitimate legislative purpose.”

Read more …

Ron Paul has endorsed Tulsi Gabbard. Good.

A Nuclear War? Over Venezuela? (Ron Paul)

Is President Trump about to invade Venezuela? His advisors keep telling us in ever-stronger terms that “all options are on the table” and that US military intervention to restore Venezuela’s constitution “may be necessary.” Secretary of State Mike Pompeo was on the Sunday news programs to claim that President Trump could launch a military attack against Venezuela without Congress’s approval. Pompeo said that, “[t]he president has his full range of Article II authorities and I’m very confident that any action we took in Venezuela would be lawful.” The man who bragged recently about his lying, cheating, and stealing, is giving plenty of evidence to back his claim.

The president has no Constitutional authority to start a war with Venezuela or any other country that has not attacked or credibly threatened the United States without Congressional approval. It is that simple. How ironic that Pompeo and the rest of the neocons in the Trump Administration are ready to attack Venezuela to “restore their constitution” but they could not care less about our own Constitution! While Washington has been paralyzed for two years over disproven claims that the Russians meddled in our elections to elect Trump, how hypocritical that Washington does not even hesitate to endorse the actual overturning of elections overseas!

Without Congressional authority, US military action of any kind against Venezuela would be an illegal and likely an impeachable offense. Of course those Democrats who talk endlessly of impeaching Trump would never dream of impeaching of him over starting an illegal war. Democrats and Republicans both love illegal US wars.

Read more …

” The outcome of that was two Americas: the hipsterocracy of the coastal elites and the suicidal deplorables of Flyoverland. ”

Going South (Jim Kunstler)

Buying all those cheap toaster-ovens, patio loungers, sneakers, sheet-rock screws, alarm clocks, croquet mallets… well, you name it, naturally made it uneconomical for America to make the same stuff, with all our silly-ass sentimental attachment to union wages, eight-hour workdays, and pollution regs, so we just steadily let the lights go out and the roofs fall in, and ramped up the “financialized” economy, with Wall Street parlaying Federal Reserve largess into an alternative universe of Three-Card-Monte scams using multilayered derivatives of promises to repay loans (that have poor prospects of ever being paid back). The outcome of that was two Americas: the hipsterocracy of the coastal elites and the suicidal deplorables of Flyoverland.

The hipsterocracy sustains itself on the manufactured hallucinations of the holographic economy — that is, on the production of images, TV psychodramas, news media narratives, status competitions, public relations campaigns, law firm machinations, awards ceremonies, and other signaling systems to maintain the illusion that the financialized economy has everything under control as we transform into a nirvana of ultra high tech pleasure-seeking and endless leisure. Meanwhile, out in Flyoverland, the holograms aren’t selling so well anymore. Nobody has the scratch to pay for them, not even those indentured to the neo-feudal empires of WalMart and Amazon. The children keep coming, though it’s nearly impossible for a man to support them, and increasingly the fathers just take themselves out of the picture.

The women ferment in single-parent hopelessness. The children turn more feral by each generation. All remaining economic opportunity is diverted back into the leveraged buy-out mills of the Coastal Elsewhere. Even growing food out of the land was long ago converted into an Agri-Biz hustle based on practices with no future. And now the spring weather is drowning out that hustle and driving the corporatized farms into bankruptcy. The two Americas have turned a formerly workable political system into a divorce court and for the past three years nothing of value has come out of that negotiation except more mutual grievance and animus.

Read more …

First create them, than issue a warning. End the Fed.

Fed Flags High US Business Debt, Asset Prices In Financial Report (R.)

U.S. stock prices are “elevated” and business debt is at historic levels, but the financial system overall “appears resilient” with low levels of leverage and less of a destabilizing run in key markets, the Federal Reserve said in its latest report on financial stability. “Investor appetite for risk appears elevated by several measures, and the debt loads of businesses are historically high,” the Fed said on Monday in a report that noted the 20 percent growth in leveraged loans between the start of last year and this year, and other aspects of corporate debt.

The ratio of debt to assets among publicly traded, nonfinancial firms is near a 20-year high, the Fed noted, and the share of new loans going to the most indebted companies is near peaks reached in 2014 and just before the 2007 to 2009 financial crisis. While the Fed sees the system overall as healthy, the levels of corporate debt stand out, said Fed Governor Lael Brainard. “With financial volatility easing since the end of last year, the Federal Reserve Board’s Financial Stability Report suggests stretched asset valuations and risky corporate debt merit continued vigilance against a backdrop of low-to- moderate vulnerabilities in the household and banking sectors,” Brainard said in an emailed statement.

[..] As in the last edition of its now twice-yearly report on the financial sector, the Fed cited the rapid growth of business debt and leveraged lending to corporations as a source of possible concern, noting that it could leave weaker companies stressed if the economy softens. Business debt has grown faster than the overall economy for a decade, the Fed noted, and “the elevated level of debt could leave the business sector vulnerable to a downturn in economic activity or a tightening in financial conditions.”

Read more …

Wait till that “froth” turns out to be 30-40-50%.

Vancouver Housing Bust Steepens, Bank of Canada Likes “Froth” Coming Off (WS)

Across Greater Vancouver, British Columbia, sales of all types of homes so far this year through April plunged to 6,212 homes, the lowest count since 1986, as the market is freezing up. In the city of Vancouver, condo sales – the largest segment of the market – plunged 30% in April from April last year, to merely 348 condos, the lowest since 2001, even as inventory for sale jumped by 75% to 2,191 condos. At the current rate of sales, supply soared by 168% year-over-year to 6.4 months. And prices are descending at speeding-ticket velocities: • Average price: -19% year-over-year to C$786,981 • Median price: -17% year-over-year to C$651,000 • Average price per square foot: -14% yoy to $940.


“Buyers have become increasingly hesitant, particularly for unbuilt product such as pre-sale condo assignments and new unfinished development in general, says Steve Saretsky, a Vancouver Realtor and author behind Vancity Condo Guide, in his April report. “This is prompting condo developers to increase bonuses and incentives as unsold inventory begins to pile up at presale centers across the lower mainland.” The average price per square foot – historically “a very consistent and reliable price metric with much less volatility,” Saretsky says – has now dropped 16% from the peak in January 2018:

Sales of detached houses in the city of Vancouver dropped to 130 houses, the worst April in decades, down 69% from 2015. The chart below shows the number of sales for each April going back to the 1990s – a sign the market has frozen up, that buyers are unwilling to get anywhere near sellers’ aspirational asking prices, and deals are not happening:

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See my article yesterday.

Why Renewables Can’t Power Modern Civilization: They Were Never Meant To (F.)

Now comes a major article in the country’s largest newsweekly magazine, Der Spiegel, titled, “A Botched Job in Germany” (“Murks in Germany”). The magazine’s cover shows broken wind turbines and incomplete electrical transmission towers against a dark silhouette of Berlin. “The Energiewende — the biggest political project since reunification — threatens to fail,” write Der Spiegel’s Frank Dohmen, Alexander Jung, Stefan Schultz, Gerald Traufetter in their a 5,700-word investigative story (the article can be read in English here). Over the past five years alone, the Energiewende has cost Germany €32 billion ($36 billion) annually, and opposition to renewables is growing in the German countryside.

“The politicians fear citizen resistance” Der Spiegel reports. “There is hardly a wind energy project that is not fought.” In response, politicians sometimes order “electrical lines be buried underground but that is many times more expensive and takes years longer.” As a result, the deployment of renewables and related transmission lines is slowing rapidly. Less than half as many wind turbines (743) were installed in 2018 as were installed in 2017, and just 30 kilometers of new transmission were added in 2017. Solar and wind advocates say cheaper solar panels and wind turbines will make the future growth in renewables cheaper than past growth but there are reasons to believe the opposite will be the case.

Der Spiegel cites a recent estimate that it would cost Germany “€3.4 trillion ($3.8 trillion),” or seven times more than it spent from 2000 to 2025, to increase solar and wind three to five-hold by 2050. Between 2000 and 2018, Germany grew renewables from 7% to 39% of its electricity. And as much of Germany’s renewable electricity comes from biomass, which scientists view as polluting and environmentally degrading, as from solar. Of the 7,700 new kilometers of transmission lines needed, only 8% has been built, while large-scale electricity storage remains inefficient and expensive. “A large part of the energy used is lost,” the reporters note of a much-hyped hydrogen gas project, “and the efficiency is below 40%… No viable business model can be developed from this.”

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Almost 60 years ago. We’re blind deaf and dumb.

Silent Spring’s Encore (CP)

Rachel Carson’s famous and brilliant book Silent Spring (1962), which single-handedly ignited the environmental movement, has never been more relevant than it is today. A mimeo of Silent Spring is scheduled for publication by the UN, as the most comprehensive study of life on the planet ever undertaken, an 1,800-page study by the world’s leading scientists that spells out in detail the results of a massive study of the world’s ecosystems. The conclusion: Nature is in “steep decline.” According to Mike Barrett, WWF’s executive director of conservation and science: “All of our ecosystems are in trouble. This is the most comprehensive report on the state of the environment. It irrefutably confirms that nature is in steep decline.”


Interestingly enough, in days of yore, Silent Spring’s opening chapter, “A Fable for Tomorrow,” described a fictional flourishing town in the heartland of America with its splendid natural beauty; however, within only a few pages, that alluring picturesque community degenerates: “A grim specter has crept upon us almost unnoticed….” Thereafter, Silent Spring turns non-fictional as it informs its reading public, i.e., the radicalized Sixties, that 500 new chemicals “… annually find their way into actual use in the U.S. alone to which the bodies of men and animals are required somehow to adapt each year, chemicals totally outside the limits of biologic experience.”

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A few pieces on the UN report.

“The biomass of wild mammals has fallen by 82%, natural ecosystems have lost about half their area and a million species are at risk of extinction..”

Human Society Under Urgent Threat From Loss Of Earth’s Natural Life (G.)

Human society is in jeopardy from the accelerating decline of the Earth’s natural life-support systems, the world’s leading scientists have warned, as they announced the results of the most thorough planetary health check ever undertaken. From coral reefs flickering out beneath the oceans to rainforests desiccating into savannahs, nature is being destroyed at a rate tens to hundreds of times higher than the average over the past 10m years, according to the UN global assessment report. The biomass of wild mammals has fallen by 82%, natural ecosystems have lost about half their area and a million species are at risk of extinction – all largely as a result of human actions, said the study, compiled over three years by more than 450 scientists and diplomats.

Two in five amphibian species are at risk of extinction, as are one-third of reef-forming corals, and close to one-third of other marine species. The picture for insects – which are crucial to plant pollination – is less clear, but conservative estimates suggest at least one in 10 are threatened with extinction and, in some regions, populations have crashed. In economic terms, the losses are jaw-dropping. Pollinator loss has put up to $577bn (£440bn) of crop output at risk, while land degradation has reduced the productivity of 23% of global land. The knock-on impacts on humankind, including freshwater shortages and climate instability, are already “ominous” and will worsen without drastic remedial action, the authors said.

“The health of the ecosystems on which we and other species depend is deteriorating more rapidly than ever. We are eroding the very foundations of economies, livelihoods, food security, health and quality of life worldwide,” said Robert Watson, the chair of the Intergovernmental Science-Policy Platform on Biodiversity and Ecosystem Services (Ibpes). “We have lost time. We must act now.”

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Save insects? You want to have Monsanto lose its business?

“While we humans have doubled our population in the past 40 years, the number of insects has been reduced by almost half..”

“The rate of insect extinction is eight times faster than that of mammals, birds and reptiles. ”

Humanity Must Save Insects To Save Ourselves (G.)

Humanity must save insects, if not for their sake, then for ourselves, a leading entomologist has warned. “Insects are the glue in nature and there is no doubt that both the [numbers] and diversity of insects are declining,” said Prof Anne Sverdrup-Thygeson, at the Norwegian University of Life Sciences. “At some stage the whole fabric unravels and then we will really see the consequences.” On Monday, the largest ever assessment of the health of nature was published and warned starkly that the annihilation of wildlife is eroding the foundations of human civilisation. The IPBES report said: “Insect abundance has declined very rapidly in some places … but the global extent of such declines is not known.”


A Notch-horned Cleg, a type of horsefly. Photograph: Rebecca Cole/Alamy

It said the available evidence supports a “tentative” estimate that 10% of the 5.5m species of insect thought to exist are threatened with extinction. The food and water humanity relies upon are underpinned by insects but Sverdrup-Thygeson’s new book, Extraordinary Insects, spends many of its pages on how wonderful and weird insects are. “The first stage is to get people to appreciate these little creatures,” said Sverdrup-Thygeson. Many appear to defy the normal rules of life. Some fruit flies can be beheaded and live normally for several days more, thanks to mini-brains in each joint. Then there are the carpet beetles that can effectively reverse time, by reverting to younger stages of development when food is scarce.


Others are bizarrely constructed. Some butterflies have ears in their mouths, one has an eye on its penis, while houseflies taste with their feet. Insect reproduction is also exotic. The southern green shield bug can maintain sex for 10 days, while another type of fruit fly produces sperm that are 20 times longer than its own body.

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Lip service will be paid.

Humans ‘Threaten 1 Million Species With Extinction’ (BBC)

Three years in the making, this global assessment of nature draws on 15,000 reference materials, and has been compiled by the Intergovernmental Science-Policy Platform on Biodiversity and Ecosystem Services (IPBES). It runs to 1,800 pages. The brief, 40-page “summary for policymakers”, published today at a meeting in Paris, is perhaps the most powerful indictment of how humans have treated their only home. It says that while the Earth has always suffered from the actions of humans through history, over the past 50 years, these scratches have become deep scars. The world’s population has doubled since 1970, the global economy has grown four-fold, while international trade has increased 10 times over.


Getty Images

To feed, clothe and give energy to this burgeoning world, forests have been cleared at astonishing rates, especially in tropical areas. Between 1980 and 2000, 100 million hectares of tropical forest were lost, mainly from cattle ranching in South America and palm oil plantations in South East Asia. Faring worse than forests are wetlands, with only 13% of those present in 1700 still in existence in the year 2000. Our cities have expanded rapidly, with urban areas doubling since 1992. All this human activity is killing species in greater numbers than ever before. According to the global assessment, an average of around 25% of animals and plants are now threatened. Global trends in insect populations are not known but rapid declines in some locations have also been well documented.


All this suggests around a million species now face extinction within decades, a rate of destruction tens to hundreds of times higher than the average over the past 10 million years. “When we laid it all out together I was just shocked to see how extreme the declines are in terms of species and in terms of the contributions that nature is providing to people.” The assessment also finds that soils are being degraded as never before. This has reduced the productivity of 23% of the land surface of the Earth. Our insatiable appetites are producing a mountain of waste. Plastic pollution has increased ten-fold since 1980. Every year we dump 300-400 million tonnes of heavy metals, solvents, toxic sludge and other wastes into the waters of the world.

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Money doesn’t talk, it swears
– Bob Dylan

 

 

 

 

May 032019
 


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

 

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

 

 

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

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

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

Day of the Long Knives (Kassam)

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

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

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

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

Is The Media Driving America Insane? (LN)

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


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

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

How The News Took Over Reality (G.)

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


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

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

Assange or Khashoggi: Whither Journalistic Standards? (Aziz)

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


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

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

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

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

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

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

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

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

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

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

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

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

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

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Ukraine is central. Even without Biden.

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

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


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

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

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

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

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

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Mostly US funds flowing back home.

Global Foreign Direct Investment Flows Collapse (DQ)

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

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

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

Hippie-Punching MMT (Edward Harrison)

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

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

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

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May 022019
 


Bugatti Atlantic Coupé 1935

 

Julian Assange Legal Team Begin ‘Big Fight’ Over Extradition (G.)
US May Have To Stop Borrowing Later This Year – Treasury (R.)
From 2024, All US Debt Issuance Will Be Used To Pay For Interest On Debt (ZH)
Fed Sees No Strong Case For Hiking Or Cutting Rates (R.)
Venezuela and Binary Choice (Murray)
Nellie Ohr’s ‘Hi Honey’ Emails On Russia Collusion Should Alarm Us All (Hill)
Barr Cancels Second Day Of Testimony, Escalating Battle With US Congress (R.)
WSJ: Dems Vilifying Barr For ‘Acting Like A Real Attorney General’ (Hill)
737 Max Sensor Had Been Flagged Over 200 Times To FAA (CNN)
US Environment Agency Says Glyphosate Is Not A Carcinogen (R.)

 

 

Straight from the horse’s foul-smelling mouth, the Guardian. First judge called Assange a narcissist. This one says he cost taxpayers £16m. Judges in Britain are apparently not required to be objective. Here’s praying he’ll receive better treatment today.

Julian Assange Legal Team Begin ‘Big Fight’ Over Extradition (G.)

A struggle over the US request for Julian Assange’s extradition will open in court on Thursday morning, a day after the WikiLeaks founder was jailed for just under a year for breaching bail conditions to avoid being extradited to Sweden. Wednesday’s sentence was decried as an “outrage” by Kristinn Hrafnsson, the editor-in-chief of the whistleblowing website, who said the hearing at Westminster magistrates court to oppose Assange’s extradition would be the start of the “big fight” – a process he said would be “a question of life and death for Mr Assange”. A judge largely rejected the mitigating factors put forward by lawyers for Assange – who took refuge in Ecuador’s embassy to London in 2012 to avoid extradition to Sweden over sexual assault allegations, which he has denied – and told the 47-year-old it was difficult to envisage a more serious example of the offence.

“You remained there for nearly seven years, exploiting your privileged position to flout the law and advertise internationally your disdain for the law of this country,” said Judge Deborah Taylor, as she sentenced him at Southwark crown court. “Your actions undoubtedly affected the progress of the Swedish proceedings. Even though you did cooperate initially, it was not for you to decide the nature or extent of your cooperation with the investigations. They could not be effectively progressed, and were discontinued, not least because you remained in the embassy.” Assange, who was arrested last month when Ecuador revoked his political asylum and invited Metropolitan police officers inside the country’s Knightsbridge diplomatic premises, had written a letter in which he expressed regret for his actions but claimed he had been left with no choice.

“I apologise unreservedly to those who consider that I have disrespected them by the way I have pursued my case. This is not what I wanted or intended,” he said in the letter read out by his lawyer, Mark Summers QC. “I found myself struggling with terrifying circumstances for which neither I nor those from whom I sought advice could work out any remedy. I did what I thought at the time was the best and perhaps the only thing that could be done – which I hoped might lead to a legal resolution being reached between Ecuador and Sweden that would protect me from the worst of my fears.”

Assange, wearing a black blazer and shorn of the beard worn when police carried him out of the embassy last month, was told by the judge that his continued residence there had cost £16m of taxpayers’ money “in ensuring that when you did leave, you were brought to justice”. “It is essential to the rule of law that nobody is above or beyond the reach of the law,” said the judge, who said Assange’s written apology was the first recognition that he regretted his actions.

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Don’t they say that all the time about twice a year?

US May Have To Stop Borrowing Later This Year – Treasury (R.)

The U.S. government will have to stop borrowing money between July and December if Washington doesn’t agree to raise a legal restriction on public debt, the Treasury Department said on Wednesday. Hitting that so-called “debt ceiling” could trigger a U.S. default on its debt and an immediate recession, a risk that has become a regular facet of U.S. politics over the last decade. The current debt limit was set in March. Treasury has been able to continue borrowing from investors by using accounting measures such as limiting government payments to public sector retirement funds.


“Treasury expects that the extraordinary measures will be exhausted sometime in the second half of 2019,” Treasury Deputy Assistant Secretary Brian Smith said in a statement announcing the department’s quarterly debt issuance plans. Wall Street also sees Treasury exhausting its borrowing authority in the third or fourth quarter, according to the minutes of a meeting of a Treasury advisory committee of financiers. The debt ceiling is already affecting how the government funds itself. Issuance of Treasury bills – short-term debt – is expected to gradually decline over the second quarter due to debt ceiling constraints, Smith said.

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“..while we don’t know yet what the next reserve currency – either fiat, hard or digital – after the US dollar will be, we urge readers to own a whole lot of it.”

From 2024, All US Debt Issuance Will Be Used To Pay For Interest On Debt (ZH)

As part of today’s Treasury Presentation to the Treasury Borrowing Advisory Committee, there is a chart showing the Office Of Debt Management’s forecast for annual US debt issuance, broken down between its three component uses of funds: Primary Deficit, Net Interest Expense, and “Other.” That chart is troubling because while in 2019 and 2020 surging US interest expense is roughly matched by the other deficit components in the US budget, these gradually taper off by 2024, and in fact in 2025 become a source of budget surplus (we won’t be holding our breath). But what is the real red flag is that starting in 2024, when the primary deficit drops to zero according to the latest projections, all US debt issuance will be used to fund the US net interest expense, which depending on the prevailing interest rate between now and then will be anywhere between $700 billion and $1.2 trillion or more.

In short: in the stylized cycle of the US “Minsky Moment”, the US will enter the penultimate, Ponzi Finance, phase – the one in which all the new debt issuance is used to fund only interest on the debt – some time around in 2024. From that point on, every incremental increase in interest rates, which will eventually happen simply due to rising inflation expectations, will merely accelerate the ponzi process, whereby even more debt is sold just to fund the rising interest on the debt, requiring even more debt issuance, and so on, until finally the “Minsky Moment” arrives. At that point, while we don’t know yet what the next reserve currency – either fiat, hard or digital – after the US dollar will be, we urge readers to own a whole lot of it.

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Get rid of the Fed or you will have no economy left. You already don’t have markets anymore, because the Fed became the market, and with the markets the economy will vanish too.

Fed Sees No Strong Case For Hiking Or Cutting Rates (R.)

The U.S. Federal Reserve on Wednesday held interest rates steady and signaled little appetite to adjust them any time soon, taking heart in continued job gains and economic growth and the likelihood that weak inflation will edge higher. “We think our policy stance is appropriate at the moment; we don’t see a strong case for moving it in either direction,” Fed Chairman Jerome Powell said in a press conference following the end of the central bank’s latest two-day policy meeting. Overall, he said, “I see us on a good path for this year.” Fed policymakers said ongoing economic growth, a strong labor market and an eventual rise in inflation were still “the most likely outcomes” as the U.S. expansion nears its 10-year mark.


“The labor market remains strong … economic activity rose at a solid rate” in recent weeks, the Fed said in a policy statement a day after President Donald Trump called on it to cut rates by a full percentage point and take other steps to stimulate the economy. The policy statement, and particularly Powell’s insistence the Fed saw no compelling reason to consider a rate cut in response to weak inflation, prompted a modest selloff in stock markets and pushed bond yields higher. The S&P 500 index fell 0.75 percent, its largest daily decline since mid-March. Interest rate futures also reversed direction, signaling a lower degree of confidence the next Fed move would be a rate cut, exactly the point Powell was driving at in a “stay-the-course” message, said analysts at Cornerstone Macro.

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“Juan Guaido has been groomed for 15 years as a long-term CIA project.”

Venezuela and Binary Choice (Murray)

When a CIA-backed military coup is attempted by a long term CIA puppet, roared on by John Bolton and backed with the offer of Blackwater mercenaries, in the country with the world’s largest oil reserves, I have no difficulty whatsoever in knowing which side I am on. Juan Guaido has been groomed for 15 years as a long-term CIA project. His coup attempt yesterday, which so far appears to have stalled, was the culmination of these efforts to return Venezuela’s oil reserves to US hegemony.

It is strange how the urgent installation of liberal democracy by force correlates so often with oil reserves not aligned to the USA, as in Libya, Iraq or Venezuela, while countries with massive oil reserves which permit US military domination and align with the West and Israel can be as undemocratic as they wish, eg Saudi Arabia. Venezuela is an imperfect democracy but it is far, far more of a democracy than Saudi Arabia and with a much better human rights record. The hypocrisy of Western media and politicians is breathtaking.

Hypocrisy and irony are soulmates, and there are multiple levels of irony in seeing the “liberal” commentators who were cheering on an undisguised military coup, then complaining loudly that people are being injured or killed now their side is losing. Yesterday the MSM had no difficulty in calling the attempted coup what anybody with eyes and ears could see it plainly was, an attempted military coup. Today, miraculously, the MSM line is no coup attempt happened at all, it was just a spontaneous unarmed protest, and it is the evil government of Venezuela which attempts to portray it as a coup. BBC Breakfast this morning had the headline “President Maduro has accused the opposition of mounting a coup attempt”… Yet there is no doubt at all that, as a matter of plain fact, that is what happened.

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We’re going to have a civil war. But it won’t be civil.

Nellie Ohr’s ‘Hi Honey’ Emails On Russia Collusion Should Alarm Us All (Hill)

First came the text messages between FBI lovebirds Peter Strzok and Lisa Page, which gave us a painful glimpse at potential political bias inside America’s most famous crime-fighting bureau. Now, a series of “Hi Honey” emails from Nellie Ohr to her high-ranking federal prosecutor husband and his colleagues raise the prospect that Hillary Clinton-funded opposition research was being funneled into the Justice Department during the 2016 election through a back-door marital channel. It’s a tale that raises questions of both conflict of interest and possible false testimony.

Ohr has admitted to Congress that, during the 2016 presidential election, she worked for Fusion GPS — the firm hired by Democratic nominee Clinton and the Democratic National Committee to perform political opposition research — on a project specifically trying to connect Donald Trump and his campaign chairman, Paul Manafort, to Russian organized crime. Now, 339 pages of emails from her private account to Department of Justice (DOJ) email accounts, have been released under a Freedom of Information Act request by the conservative legal group Judicial Watch. And they are raising concerns among Republicans in Congress, who filed a criminal referral with the Justice Department on Wednesday night.

They clearly show that Ohr sent reams of open-source intelligence to her husband, Associate Deputy Attorney General Bruce Ohr, and on some occasions to at least three DOJ prosecutors: Lisa Holtyn, Ivana Nizich and Joseph Wheatley. The contents tracked corruption developments in Russia and Ukraine, including intelligence affecting Russian figures she told Congress she had tried to connect to Trump or Manafort. “Hi Honey, if you ever get a moment you might find the penultimate article interesting — especially the summary in the final paragraph,” Nellie Ohr emailed her husband on July 6, 2016, in one typical communication. The article and paragraph she flagged suggested that Trump was a Putin stooge: “If Putin wanted to concoct the ideal candidate to service his purposes, his laboratory creation would look like Donald Trump.” Nellie Ohr bolded that key sentence for apparent emphasis.

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Still don’t get why they insist on lawyers asking their questions for them.

Barr Cancels Second Day Of Testimony, Escalating Battle With US Congress (R.)

Attorney General William Barr on Wednesday canceled plans to testify before the House of Representatives about his handling of Special Counsel Robert Mueller’s Russia investigation, further inflaming tensions between U.S. President Donald Trump and Democrats in Congress. Barr was due to face the Democratic-controlled House Judiciary Committee on Thursday, but pulled out after the two sides were unable to agree on the format for the hearing. “It’s simply part of the administration’s complete stonewalling of Congress,” Judiciary Committee Chairman Jerrold Nadler told reporters. Justice Department spokeswoman Kerri Kupec said Nadler’s proposal to have committee lawyers question Barr was “unprecedented and unnecessary,” saying questions should come from lawmakers.


The Justice Department also said on Wednesday it would not comply with a Nadler-issued subpoena seeking an unredacted version of Mueller’s report and underlying investigative files from the probe. Earlier on Wednesday, Barr spent more than four hours before the Republican-controlled Senate Judiciary Committee where he fended off Democratic criticism of his decision to clear Trump of criminal obstruction of justice and faulted Special Counsel Robert Mueller for not reaching a conclusion of his own on the issue.

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The Wall Street Journal takes a very strong stand.

WSJ: Dems Vilifying Barr For ‘Acting Like A Real Attorney General’ (Hill)

The Wall Street Journal editorial board on Wednesday excoriated Democrats for making Attorney General William Barr out to be a “villain,” defending Barr as merely “acting like a real Attorney General.” “Washington pile-ons are never pretty, but this week’s political setup of Attorney General William Barr is disreputable even by Beltway standards,” the board wrote in an op-ed published just hours after Barr testified before the Senate Judiciary Committee. The editorial, which was shared by President Trump on Twitter, slammed Democrats’ criticism of Barr’s handling of special counsel Robert Mueller’s report on Russian election interference and possible obstruction of justice by Trump.


The board also took issue with Mueller, saying that the letter he wrote to Barr expressing concerns with how the attorney general summarized his investigation amounted to “posterior covering.” “Democrats leapt on the letter as proof that Mr. Barr was somehow covering for Donald Trump when he has covered up nothing,” the board wrote, arguing that Barr’s four-page memo adequately summarized the chief findings of Mueller’s investigation. The board wrote that the “trashing of Barr shows how frustrated and angry Democrats continue to be that the special counsel came up empty in his Russia collusion probe.”

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“Single sources of data are considered acceptable in such cases by our industry..” As I explained when this came out, you need three sources. One is crazy, two is too dangerous.

737 Max Sensor Had Been Flagged Over 200 Times To FAA (CNN)

The device linked to the Boeing 737 Max software that has been scrutinized after two deadly crashes was previously flagged in more than 200 incident reports submitted to the Federal Aviation Administration, but Boeing did not flight test a scenario in which it malfunctioned, CNN has learned. The angle-of-attack (AOA) sensor, as it’s known, sends data to a 737 Max software system that pushes the nose of the aircraft down if it senses an imminent stall. That software, triggered by erroneous data from AOA sensors, is believed to have played a role in crashes of Lion Air and Ethiopian Airlines jets. Former Boeing engineers and aviation analysts interviewed by CNN have criticized Boeing’s original software design for relying on data from a single AOA sensor, claiming that those devices are vulnerable to defects.

FAA data analyzed by CNN supports that assessment. The FAA has received at least 216 reports of AOA sensors failing or having to be repaired, replaced or adjusted since 2004, according to data from the FAA’s Service Difficulty Reporting website. [..] In one 2011 case, the flight crew on a Boeing 737-800 reported that the “angle of attack and airspeed failed” and declared an emergency. An AOA sensor was then replaced. The FAA also issued two directives for various Boeing aircraft models before the 737 MAX was released, indicating that Boeing was aware of the potential for the sensors to cause problems in its planes. A 2013 directive mandated inspections of certain AOA sensors to prevent possible problems that included “obstacles after takeoff, or reduced controllability of the airplane.”

Another FAA directive published in 2016 warned that AOA sensors on Boeing MD-90-30 airplanes needed to be modified and tested to address “the unsafe condition on these products.” While those directives did not involve the 737 Max, Peter Goelz, a former managing director of the National Transportation Safety Board (NTSB) and a CNN aviation analyst, said AOA sensors fundamentally work the same on different aircraft models. “This is a fairly simple external device that can get damaged on a regular basis,” Goelz said. “That’s important because Boeing made the decision to rely on them as single sources for streams of data.”

In a statement to CNN, a Boeing spokesperson said the 737 Max and its stall-prevention system, called MCAS, were certified in accordance with all FAA requirements, and that Boeing’s analysis for the plane determined that in the event of erroneous inputs from an AOA sensor, pilots would be able to maintain control of the plane by following established procedures. “Single sources of data are considered acceptable in such cases by our industry,” the Boeing spokesperson said.

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Unbelievable. Might as well end the EPA too. There is only one way to deal with GMO and the poisons that keep them alive: precautionary principle.

US Environment Agency Says Glyphosate Is Not A Carcinogen (R.)

The U.S. Environmental Protection Agency (EPA) said on Tuesday that glyphosate, a chemical in many popular weed killers, is not a carcinogen, contradicting decisions by U.S. juries that found it caused cancer in people. The EPA’s announcement reaffirms its earlier findings about the safety of glyphosate, the key ingredient in Bayer’s Roundup. The company faces thousands of lawsuits from Roundup users who allege it caused their cancer. “EPA continues to find that there are no risks to public health when glyphosate is used in accordance with its current label and that glyphosate is not a carcinogen,” the agency said in a statement.


Farmers spray glyphosate, the most widely used herbicide in U.S. agriculture, on fields of soybeans and other crops. Roundup is also used on lawns, golf courses and elsewhere. The EPA did previously find ecological risks from the chemical and has proposed new measures to protect the environment from glyphosate use by farmers and to reduce the problem of weeds becoming resistant to it. Bayer said it was pleased the EPA and other regulators who have assessed the science on glyphosate for more than 40 years continue to conclude it is not carcinogenic. “Bayer firmly believes that the science supports the safety of glyphosate-based herbicides,” it said in a statement. The company has repeatedly denied allegations that glyphosate and Roundup cause cancer.

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May 012019
 


Gustave Courbet The desperate man (self portrait) 1852

 

Maduro Claims Victory Over ‘Deranged’ Coup Attempt (G.)
Zero Percent of Elite Commentators Oppose Regime Change in Venezuela (FAIR)
About That Letter That Mueller Wrote To Barr… (ZH)
The Real ‘Bombshells’ Are About to Hit Their Targets (Kelly)
Why Are Clapper and Brennan Not in Jail?
Wall Street Puts Nearly $2 Billion in American Politics in 2016-18 Cycle
iPhone Sales Fall 17% In First Quarter (G.)
Australia House Prices Continue To Fall, Clearing Way For Rate Cut (SMH)
Tesla Filing Shows Results Were Goosed By A Surge In Credits (LAT)
Julian Assange’s Confinement And Arrest Are A Scandal (Maurizi)
Extradition of Julian Assange Threatens Us All (VIPS)
Canadian Threat Level At America Raised From “Miffed” To “Peeved” (Exp.)
Climate Crisis Facing Australian Rainforests Likened To Coral Bleaching (SMH)

 

 

The things we do for oil.

“‘Maduro had a plane on the tarmac and was ready to leave this morning’, claims @SecPompeo without offering evidence. But as Pompeo admitted just last week, telling lies was (and some may say still is) one of his key job requirements”.

Maduro Claims Victory Over ‘Deranged’ Coup Attempt (G.)

Nicolás Maduro claimed his troops have thwarted a botched attempt to topple him masterminded by Venezuela’s “coup-mongering far right” and Donald Trump’s deranged imperialist “gang”. In an hour-long address to the nation on Tuesday night – his first since the pre-dawn uprising began – Maduro accused opposition leader Juan Guaidó and his political mentor Leopoldo López of seeking to spark an armed confrontation that might be used as a pretext for a foreign military intervention. However, “loyal and obedient” members of Venezuela’s Bolivarian armed forces had put down the mutiny within hours of it starting shortly after 4am, Maduro claimed, in direct contradiction to Guaidó’s earlier remark that the president no longer had military backing.

By noon there only remained a small group of plotters who had chosen “the path of betrayal … [and] handed their souls over to the coup-mongering far right”. “They failed in their plan. They failed in their call, because the people of Venezuela want peace,” Maduro said, surrounded by Venezuela’s military and political elite. “We will continue to emerge victorious … in the months and years ahead. I have no doubt about it.” Maduro said the plotters would “not go unpunished” and said they would face criminal prosecutions “for the serious crimes that have been committed against the constitution, the rule of law and the right to peace”.


[..] Maduro called Tuesday’s “coup-mongering adventure” part of a US-backed plot to destroy the Bolivarian revolution he inherited after Hugo Chávez’s death in 2013. “I truly believe … that the United States of America has never had a government as deranged as this one,” he said, calling Guaidó and his team “useful idiots” of the empire. He also scotched claims from the US secretary of state, Mike Pompeo, that he had been preparing to flee Venezuela for Cuba on Tuesday morning, until he was told to stay put by his Russian backers. “Señor Pompeo, please,” Maduro said.

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Propaganda works.

Zero Percent of Elite Commentators Oppose Regime Change in Venezuela (FAIR)

A FAIR survey of US opinion journalism on Venezuela found no voices in elite corporate media that opposed regime change in that country. Over a three-month period (1/15/19–4/15/19), zero opinion pieces in the New York Times and Washington Post took an anti–regime change or pro-Maduro/Chavista position. Not a single commentator on the big three Sunday morning talkshows or PBS NewsHour came out against President Nicolás Maduro stepping down from the Venezuelan government. Of the 76 total articles, opinion videos or TV commentator segments that centered on or gave more than passing attention to Venezuela, 54 (72 percent) expressed explicit support for the Maduro administration’s ouster.

Eleven (14 percent) were ambiguous, but were only classified as such for lack of explicit language. Reading between the lines, most of these were clearly also pro–regime change. Another 11 (14 percent) took no position, but many similarly offered ideological ammo for those in support. The Times published 22 pro–regime change commentaries, three ambiguous and five without a position. The Post also spared no space for the pro-Chavista camp: 22 of its articles expressed support for the end to Maduro’s administration, eight were ambiguous and four took no position. Of the 12 TV opinions surveyed, 10 were pro-regime change and two took no position.


[..] This comes despite the existence of millions of Venezuelans who support Maduro—who was democratically elected twice by the same electoral system that won Juan Guaidó his seat in the National Assembly—and oppose US/foreign intervention. FAIR (2/20/19) has pointed out corporate media’s willful erasure of vast improvements to Venezuelan life under Chavismo, particularly for the oppressed poor, black, indigenous and mestizo populations. FAIR has also noted the lack of discussion of US-imposed sanctions, which have killed at least 40,000 Venezuelans between 2017–18 alone, and continue to devastate the Venezuelan economy.

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Mueller worried about media coverage.

“House Democrats, who have expressed distrust in the attorney general, are set to vote on Wednesday to allow House Judiciary Committee lawyers to question Barr at Thursday’s hearing.”

About That Letter That Mueller Wrote To Barr… (ZH)

In what the WaPo breathlessly reports late on Tuesday was a rebuke and “complaint” to Attorney General William Barr, special counsel Robert Mueller sent a letter to the AG in late March, just days after Barr sent out his summary to Congress, in which Mueller stated that Barr’s 4-page summary to Congress on the sweeping Russia investigation failed to “fully capture the context, nature, and substance” of Mueller’s work and conclusions, citing a copy of the letter it had obtained using its trusted deep intel sources. Pouring more fuel on the fire, the always pithy Axios adds that “this revelation about Mueller’s dissatisfaction with the characterization of his report will likely escalate the growing rift over Barr’s handling of the special counsel’s investigation.

[..] Or maybe not, and perhaps the WaPo/NYT report is not “so bad” if one actually reads it, because once the breathless WaPo finally does come up for air, we get to paragraph 13 – a point by which most readers have turned out – to read the following real punchline in the WaPo report: “When Barr pressed Mueller on whether he thought Barr’s memo to Congress was inaccurate, Mueller said he did not…” So, Mueller felt there was confusion… but he did not think the memo was inaccurate. Wait, what’s going on here and how is this even a story? Well, if we read the rest of the above sentence, we find the true object of Mueller’s “complaint”: “[Mueller] felt that the media coverage of it was misinterpreting the investigation, officials said.”

Which means that, as the WaPo itself reports, what Mueller was really angry with was the coverage of his report by media such as… the WaPo and the NYT?? The irony, it burns. [..] throughout a subsequent 15 minutes telephone conversation between the special counsel and the attorney general, Mueller’s main worry was “that the public was not getting an accurate understanding of the obstruction investigation.” This goes back to what Mueller’s letter requested: “that Barr release the 448-page report’s introductions and executive summaries, and made some initial suggested redactions for doing so, according to Justice Department officials,” the WaPo writes. What happened then? A few weeks later Barr did just that..

[..] tomorrow Barr is scheduled to testify on Wednesday before the Senate Judiciary Committee about the investigation, and the entire article is meant to focus on the headlines of the WaPo (and NYT) article, and certainly not on paragraph 13 which, not only refutes the prevailing tone that Barr did something wrong, but in fact exonerates him. But that won’t have any impact on tomorrow’s hearing which is now assured to be a complete kangaroo court.

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FISAgate. Get ready.

The Real ‘Bombshells’ Are About to Hit Their Targets (Kelly)

In the next several weeks, Inspector General Michael Horowitz is expected to issue his summation of the potential abuse of the Foreign Intelligence Surveillance Act by top officials in the Obama Administration and holdovers in the early Trump Administration who were overseeing the investigation of Donald Trump’s presidential campaign. And the perpetrators of the so-called FISAgate scandal now are scrambling for cover as the bad news looms. Horowitz announced last March that his office would examine the Justice Department’s conduct “in applications filed with the U.S. Foreign Intelligence Surveillance Court (FISC) relating to a certain U.S. person.” That U.S. person is Trump campaign associate Carter Page.

In October 2016, just two weeks before the presidential election, the Justice Department submitted an application to the FISC seeking authorization to wiretap Page. The court filing accused Page, a Naval Academy graduate and unpaid campaign advisor, of being an agent of Russia. The application cited the infamous Steele dossier—unsubstantiated political propaganda that had been funded by the Hillary Clinton campaign and Democratic National Committee—as its primary source of evidence. But the specific political origin of the dossier intentionally was omitted in the court filing. (Robert Mueller similarly tap danced around the role of Fusion GPS, the political consulting firm that hired Christopher Steele to create the dossier. Mueller never mentioned the name “Fusion GPS” in the 448-page document, referring to it only vaguely as “the firm that produced the Steele reporting.”)


Former FBI Director James Comey and former Deputy Attorney General Sally Yates signed the original FISA application. It was renewed three times; subsequent signers included former acting FBI Director Andrew McCabe and Deputy Attorney General Rod Rosenstein. If there’s one document that represents the malevolence, chicanery and arrogance of the original Trump-Russia collusion fraudsters, it’s the Page FISA application. But—to borrow a favorite term of the collusion truthers—the “walls are closing in” on the FISA abusers.

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Senator Rand Paul: “Subpoena Clapper & Brennan! Demand they answer whether they leaked classified information to the Washington Post. Examine their call records and lock them up if evidence proves them to be the leakers.”

Why Are Clapper and Brennan Not in Jail?

The clearest of all the laws concerning U.S. intelligence is Section 798, 18 U.S. Code—widely known in the Intelligence Community as “the Comint Statute,” or “the 10 and 10.” Unlike other laws, this is a “simple liability” law. Motivation, context, identity, matter not at all. You violate it, you are guilty and are punished accordingly.

Here it is: (a) Whoever knowingly and willfully communicates, furnishes, transmits, or otherwise makes available to an unauthorized person, . . . any classified information— (1) concerning the nature, preparation, or use of any code, cipher, or cryptographic system of the United States or any foreign government; or (2) concerning the design, construction, use, maintenance, or repair of any device, apparatus, or appliance used or prepared or planned for use by the United States …or (3) concerning the communication intelligence activities of the United States or any foreign government; or (4) obtained by the processes of communication intelligence . . . Shall be fined under this title or imprisoned not more than ten years, or both.


On December 9 and 10, 2016, the New York Times and the Washington Post independently reported that anonymous senior intelligence officials had told them that, based on intercepted communications, the intelligence agencies agreed that Russia had hacked the Democratic National Committee to help Donald Trump win the election. Their evidence was the fact of their access to U.S communications intelligence. A flood of subsequent stories also cited allegations by “senior intelligence officials” that “intercepted communications” and “intercepted calls” showed that “members of Donald J. Trump’s 2016 presidential campaign and other Trump associates had repeated contacts with senior Russian intelligence officials in the year before the election.” Incontrovertibly, the officials who gave these stories to the Times and Post violated the Comint Statute, and are subject to the “10 and 10” for each count.

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$2.5 million every single day for two years. That’s $1.9 billion.

Wall Street Puts Nearly $2 Billion in American Politics in 2016-18 Cycle

Wall Street poured at least $1.9 billion into the political process, the largest-ever amount for a non-presidential year, according to a new report by Americans for Financial Reform. This sum outstrips the total of $1.4 billion, in the 2013-14 election cycle, by 36 percent. The figure, which includes contributions to campaign committees and leadership PACs ($922 million) and lobbying expenditures ($957 million), reflects a massive rush of pro-industry nominees and legislation over the last two years, at a time when the biggest banks made $100 billion in profits for the first time. Industry subsequently spent heavily to influence what became one of the hardest-fought mid-term campaigns in decades.


“The last election cycle demonstrated yet again that Wall Street political spending produces policies that will do lasting financial damage to most Americans, including massive tax cuts for big banks, fewer consumer and investor protections, and other policies that that drive inequality and economic vulnerability,” said Lisa Donner, executive director, Americans for Financial Reform. “Year after year, big money in politics helps Wall Street rig the system in its own favor, and against the rest of us, and insulate itself from accountability, even though voters across party lines oppose so many of the policies it seeks.”

The 63-page report, “Wall Street Money in Washington,” draws on a special data set compiled by the Center for Responsive Politics for AFR in order to provide a more precise look at financial services industry spending. The set excludes spending by health insurers, who work to influence a different group of issues than, for example, banks. As the data does not include “dark money” that goes mostly unreported, the actual sums of Wall Street spending are surely much higher.

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So Apple buys back another $75 billion and shares rise 5%. But of course.

iPhone Sales Fall 17% In First Quarter (G.)

Apple’s iPhone sales fell 17% in the first three months of the year as the company’s flagship product continued to struggle. The tech company reported revenues of $31.05bn in iPhone revenues for the quarter, the majority of the $58.bn in revenues Apple brought in over the three months. The news was less gloomy than expected and Apple’s shares spiked 5% in after hours trading as Apple announced it was buying back another $75bn of its shares. The company made a profit of $11.6bn – ahead of expectations. But this quarter marked another quarterly decline in profit and revenue as the company struggled to move beyond the iPhone. In January Apple reported its first decline in revenues and profits in over a decade as slowing sales of iPhones and an economic slowdown in China took their toll.


Those results came after chief executive Tim Cook shocked investors by issuing Apple’s first profits warning since 2002 citing “the magnitude of the economic deceleration, particularly in greater China.” The company has stopped reporting unit sales of iPhones – leaving analysts searching other sources of data for their estimates. Most don’t expect a recovery in sales until the next generation of phones, using the super-fast 5G network, are launched, likely to be in 2020. In the meantime Apple is repositioning itself as a services and software company as well as the manufacturer of hardware. “Investors are slowly shifting their focus away from the iPhone cycle and valuing the company more based on the ecosystem of hardware, software, and services, but it will take several years for this to become consensus,” Gene Munster, managing partner of Loup Ventures, wrote in a blog post this week.

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Why? Maybe prices are far too high. Why would you want to keep them that way?

Australia House Prices Continue To Fall, Clearing Way For Rate Cut (SMH)

The national property market is enduring its biggest fall in values since the global financial crisis, being led down by double-digit drops in Sydney and Melbourne. New analysis by CoreLogic shows house values in Sydney dropped 0.8 per cent in April to be down by 11.8 per cent over the past 12 months. The situation is worse in Melbourne where values fell by 0.7 per cent last month to be down 12.6 per cent over the past year. Overall dwelling values in Sydney dropped by 0.7 per cent to be 10.9 per cent lower over the year. Since their peak in September 2017, Sydney dwelling values have fallen by 14.5 per cent.


In Melbourne, dwelling values dropped by 2.6 per cent to be 10 per cent down over the past 12 months. They have fallen by 10.9 per cent since their peak. National dwelling values were down by 0.5 per cent in the month to be down by 7.2 per cent on an annual basis, the largest drop since the 12 months to February 2009. Every capital city except Canberra suffered a fall in house prices last month with Hobart, which had been the nation’s strongest market, seeing a 1.2 per cent drop in April. Canberra, where values lifted last month, and Hobart are the only two capitals where prices are still growing above the inflation rate on an annual basis.

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Subsidies “R” Us.

Tesla Filing Shows Results Were Goosed By A Surge In Credits (LAT)

Tesla’s financial results released last week didn’t mention that the automaker’s revenue included $200 million collected from regulatory credits. When Chief Executive Elon Musk answered questions from analysts, he didn’t point that out, either. The number was buried in the official government filing known as Form 10-Q that Tesla filed Monday with the Securities and Exchange Commission. Without the revenue spike – which is unlikely to be repeated, analysts say – the company’s first-quarter loss would have been much deeper than the $702 million that Tesla reported. Gross margins on Tesla’s cars, a key measure of manufacturing profitability and efficiency, would have taken a significant hit. Bernstein analyst Toni Sacconaghi’s reaction? “Egad,” he said in a note to investors.


Tesla’s shares fell 1.2% to $238.69 on Tuesday. The $235.14 closing price Friday was its lowest in more than two years. The new data add to Tesla’s already bleak financial picture. The $702-million loss followed a $139-million profit in the previous quarter. Sales fell sharply. Automotive revenue plunged 41%, to $3.7 billion from $6.3 billion in the previous quarter, as vehicle deliveries dropped to 63,000 from 90,700 the previous quarter. Operating cash flow turned negative — a net $640 million going out the door over the three months compared to a positive $1.23 billion in the previous period. Cash on hand dropped from $3.69 billion at the end of last quarter to $2.2 billion, including $920 million to pay off convertible bonds.

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“.. they replied to me and my lawyers that they had destroyed the emails, even though the case is still ongoing, very high-profile and controversial.”

Julian Assange’s Confinement And Arrest Are A Scandal (Maurizi)

In the summer of 2015, when Julian Assange had already spent three years inside the embassy, I decided it was important to access the full documentation on his case to try to reconstruct it using factual information. It was at that point that I filed my comprehensive FOIA request on the Julian Assange and WikiLeaks case in four jurisdictions. I ran up against a real rubber wall, one so persistent that have been forced to sue the Swedish and British authorities. The documents I have managed to obtain after a lengthy FOIA litigation, which is still ongoing, provide indisputable evidence of the UK’s role in helping to create the legal and diplomatic quagmire which has kept Julian Assange arbitrarily detained since 2010, as established by the United Nations Working Group on Arbitrary Detention (UNWGAD.)

It was the UK Crown Prosecution Service which advised the Swedish prosecutors against the only judicial strategy that could have brought the Swedish rape investigation to a quick closure: questioning Assange in London, rather than trying to extradite him to Stockholm. It was the Crown Prosecution Service which tried to dissuade the Swedish prosecutors from dropping the case in 2013. Why did the Crown Prosecution Service act this way? And why did the Crown Prosecution Service write to their Swedish counterpart: “Please do not think that the case is being dealt with as just another extradition request”?


When I tried to dig into these facts, I discovered crucial gaps in the Crown Prosecution Service’s documents and asked the Service to provide an explanation for them. Their answer was rather incredible: they replied to me and my lawyers that they had destroyed the emails, even though the case is still ongoing, very high-profile and controversial. The Crown Prosecution Service which destroyed the records is the very same agency in charge of handling the extradition request from the United States, as well as from Sweden, if the Swedish prosecutors reopen the case before the statute of limitations on the rape allegations expires. Will anyone demand transparency and accountability from the Crown Prosecution Service in their handling of the Assange case from the very beginning?

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“It takes two to speak the truth–one to speak and one to hear.”

Extradition of Julian Assange Threatens Us All (VIPS)

Retaliation against Julian Assange over the past decade plus replicates a pattern of ruthless political retaliationagainst whistleblowers, in particular those who reveal truths hidden by illegal secrecy. U.S. law prohibits classifying information “in order to conceal inefficiency, violations of law, or administrative error; to prevent embarrassmentto a person, organization, or agency.” Whether U.S. authorities successfully prosecute Assange, accept a desperate plea deal or keep him tied up with endless litigation, they will succeed in sending the same chilling message to all journalists that they send to potential whistleblowers: Do not embarrass us or we’ll punish you—somehow, someday, however long it takes.

In that respect, one could say damage to journalism already has been done but the battle is not over. This extension of a whistleblower reprisal regime onto a publisher of disclosures poses an existential threat to all journalists and to the right of all people to speak and hear important truths. The U.S. indictment of Julian Assange tests our ability to perceive a direct threat to free speech, and tests our will to oppose that threat.Without freedom of press and the right and willingness to publish, whistleblowers even disclosing issues of grave, life and death public safety, will be like a tree falling in the forest with no one to hear.


The great American writer Henry David Thoreau wrote, “It takes two to speak the truth–one to speak and one to hear.” Today, it takes three to speak the truth–one to speak, one to hear, and one to defend the first two in court. If the U.S. Government has its way, there will be no defense, no truth.

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Real title: “Canada FURY after The Simpsons MOCKS Justin Trudeau amid scandal – ‘COMPLETE disrespect’”

I don’t know what to think of this. You decide. Onion? It’s actually the Express in the UK.

Canadian Threat Level At America Raised From “Miffed” To “Peeved” (Exp.)

Viewers were left disgusted after the word “Newfie” was used in the episode titled ‘D’Oh Canada’. The term is decades old and is considered an offensive, derogatory term for people in Newfoundland and Labrador. According to CTV News, it is commonly used to imply someone is stupid or foolish. The country’s Prime Minister Justin Trudeau also appeared in the episode. During the episode, which aired on Sunday night, the Simpsons family travel to Niagara Falls. Somehow Lisa Simpson ends up falling over the famous waterfall, which separates the US and Canada. In the controversial scene, Lisa stands next to some Canadian youngsters and says: “I’m sure you treat all people equally.”


One says: “Except the Québécois,” before others add, “and the Newfies. “Stupid Newfies.” The scene then cuts to Springfield youngster Ralph Wiggum who says “I’m a Newfie” before clubbing the head of a stuffed baby seal. Twitter erupted with fury following the show’s airing. One said: “I can take a joke. “When, however, it is complete disrespect disguised as a joke, I take exception.” Some also criticised the show for targeting seal hunters. The Simpsons has a long and often contentious past. Most recently the show was condemned for its portrayal of Apu Nahasapeemapetilon, who many now see as racist stereotyping.

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On and on we go.

Climate Crisis Facing Australian Rainforests Likened To Coral Bleaching (SMH)

Animals in Australia’s globally renowned wet tropics are on the brink of extinction after the hottest summer on record, according to official advice that equates the scale of the crisis to coral bleaching on the Great Barrier Reef. The extraordinary warning relates to the lush green coastal fringe spanning Townsville, Cairns and Cooktown in Queensland’s north – the Earth’s oldest rainforest and a World Heritage-listed tourist drawcard. A statement from the board of the Wet Tropics Management Authority on Tuesday said more than half of animal species endemic to the area may be extinct within decades. It called for strong global action to reduce greenhouse gas emissions and protect the ancient area for future generations.


The climate change policies of the major parties are under the microscope during the federal election campaign, as Labor and the Coalition pledge starkly different action to address the crisis. The Queensland government authority says “concerning new evidence has shown an accelerating decline” in the wet tropics’ unique rainforest animals. “Following the hottest summer ever recorded, some of the key species for which the Wet Tropics World Heritage Area was listed are at imminent risk of extinction,” the statement said. [..] Modelling has previously predicted that more than half of the area’s endemic species may be extinct by the end of this century. However the latest findings by James Cook University biodiversity professor Steve Williams suggested “these extinctions are happening even sooner”, the statement said.

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