Dec 022019
 
 December 2, 2019  Posted by at 9:42 am Finance Tagged with: , , , , , , , , , ,  23 Responses »


Russell Lee Migrant family in trailer home near Edinburg, Texas Feb 1939

 

White House Says It Will Not Participate In Wednesday Impeachment Hearing (R.)
Political Affiliation Bias: We’re Embracing It Fervently (RT)
Could America Survive a Truth Commission? (CHS)
Why a Second American Revolution Is Necessary for the Entire World (Zuesse)
US Digs Deeper Into Deutsche Role In Danske Money Laundering Scandal (R.)
Albert Edwards Is Watching To Decide When The US Becomes “Japanified” (ZH)
Prince Andrew ‘Has Kept In Constant Touch With Ghislaine Maxwell (DM)
Serbia, Slovakia Join Sudden Eastern European Gold Repatriation Push
Who Cooked Adam Smith’s Dinner? (Marçal)
What Is COP25 And Can It Save The World? (G.)

 

 

“We may consider participating in future Judiciary Committee proceedings if you afford the administration the ability to do so meaningfully..”

White House Says It Will Not Participate In Wednesday Impeachment Hearing (R.)

The White House told Democratic lawmakers on Sunday that U.S. President Donald Trump and his lawyers would not participate in a congressional impeachment hearing this week, citing a lack of “fundamental fairness.” Trump’s aides responded defiantly to the first of two crucial deadlines he faces in Congress this week as Democrats prepare to shift the focus of their impeachment inquiry from fact-finding to the consideration of possible charges of misconduct over his dealings with Ukraine. The Democratic-led House of Representatives Judiciary Committee, tasked with considering charges known as articles of impeachment, had given Trump until 6 p.m. on Sunday to say whether he would dispatch a lawyer to take part in the judiciary panel’s proceedings on Wednesday.

“We cannot fairly be expected to participate in a hearing while the witnesses are yet to be named and while it remains unclear whether the Judiciary Committee will afford the President a fair process through additional hearings,” White House counsel Pat Cipollone wrote to Judiciary Committee Chairman Jerrold Nadler, according to a copy of a letter seen by Reuters. Cipollone – while citing a “complete lack of due process and fundamental fairness afforded the president” in the impeachment process – did not rule out participation in further proceedings. But he signaled that Democrats would first have to make major procedural concessions.


[..] “We may consider participating in future Judiciary Committee proceedings if you afford the administration the ability to do so meaningfully,” Cipollone wrote, laying out a list of demands, including allowing Trump’s Republicans to call additional witnesses. Cipollone also complained that Democrats had scheduled Wednesday’s hearing – “no doubt purposely” – to overlap with Trump’s absence from the United States to attend a NATO summit in London.

Read more …

Next year: can Republicans still marry Democrats?

Political Affiliation Bias: We’re Embracing It Fervently (RT)

In an ultra-PC society where even the suggestion of racial, ethnic or gender bias can get a person fired or ostracized, another type of discrimination – a political affiliation-based one – is thriving, according to a new study. Discrimination may have become taboo in US society, but it hasn’t gone away. A new study shows discriminatory behavior thrives in the one area where it remains socially acceptable to judge people based on shared attributes: political affiliation. Politics remains one of the few personal characteristics not protected by equal opportunity hiring laws, and if this study is any indication, lawmakers will want to get on top of that quickly.

Shared political ideology outweighs seemingly more important factors like professional qualifications in hiring decisions, researchers from Clemson University and the University of Kansas confirmed in a study published this month in the Journal of Applied Psychology. Unchecked, this kind of discrimination is liable to produce powerful echo chambers, in which groupthink eventually becomes a prerequisite for employment. Study participants readily picked a job candidate with whom they shared a political affiliation over a more qualified candidate without that affiliation when presented with Facebook profiles containing clear indicators of the prospective hire’s political alignment. These might include statements about leading a campus Democrat or Republican group, or party symbols like the Democratic donkey or GOP elephant.


The closer the participant, acting as a recruiter, identified with a party, the higher ratings they gave to candidates who touted their membership in that party – qualifications were nigh on irrelevant. The effect held true even when candidate profiles didn’t include explicit statements of political loyalty. Recruiter participants still picked candidates who agreed with them based on profiles sporting either a pro-choice or pro-life statement; pro-Second Amendment or pro-gun control material; or support of Black Lives Matter or Blue Lives Matter, a second experiment revealed.

Read more …

Maybe we should ask: Can Americans still recognize the truth?

Could America Survive a Truth Commission? (CHS)

You’ve probably heard of the Truth Commissions held in disastrously corrupt and oppressive regimes after the sociopath/kleptocrat Oligarchs are deposed. The goal is not revenge, as well-deserved as that might be; the goal is national reconciliation via the only possible path to healing: name names and tell the plain, unadorned truth, stripped of self-serving artifice, spin, propaganda and PR. Is such a stripped-of-spin truthful account of names and events even possible in the U.S.? Sadly, there is precious little evidence that a Truth Commission in the U.S. would be anything more than a travesty of a mockery of a sham, a parade of half-truths, misdirections, falsehoods and fabrications, all aimed at one goal: protecting the powerful from the consequences of their decisions and actions.

Sadly, we’ve lost the capacity to simply tell the truth: everything, and I mean everything, is crafted to protect the guilty, polish the putrid decay of legalized looting, defraud the unwary, ease the most venal, power-mad sociopaths into positions of unparalleled power, sell low-quality goods and services nobody needs or would even want if the marketing weren’t so Orwellian, persuade debt-serfs to borrow more and bamboozle voters into further enriching the few at the expense of the many. The truth is no match for greed is good and don’t be evil, unless it’s incredibly profitable, in which case, go for it but cover your tracks (here’s looking at you, Big Tech). Outrage is reserved for whistleblowers who name names and reveal the sordid truths that the status quo has expended the nation’s treasure to protect from the light of day.


This is the pathetic state of America: our outrage is reserved for those telling the truth, not for the legions who lie, cheat, steal and prevaricate to conceal the truth at all costs.

Read more …

“All of these invasions and coups are based on nothing but lies, and the media are a necessary part of that.”

Why a Second American Revolution Is Necessary for the Entire World (Zuesse)

On November 11th, the very disturbing but clearly true “Lessons To Learn From The Coup In Bolivia” was posted to the Web. That anonymous author (a German intelligence analyst) documented the evilness of the overthrow of Evo Morales in Bolivia, and the threat now clearly posed to the world by the US regime — a spreading cancer of expansionist fascism, led from Washington. But, even more than this, he indicated that unless the individuals who are responsible for the advancing fascism are executed, there won’t be any real hope for democracy anywhere in the world.

Either this impunity will stop, or else the spread of the US international dictatorship — not only by CIA coups such as this, but by illegal international invasions such as of Iraq 2003, Libya 2011, Syria 2012-, and Yemen 2015-, — will continue and will engulf in misery ultimately the entire world. He makes clear the complicity of US ‘news’-media in the lies that ‘justify’ this coup (and ‘justified’ those invasions). It’s, by now, clearly the way the US regime functions. Of course, none of those media will publish any such truth; they all cover-up constantly for the regime, because they actually are an essential part of it. (All of these invasions and coups are based on nothing but lies, and the media are a necessary part of that.) Censorship in America is thus actually extreme, and constant.


For example: how many US-and-allied media have even reported that fascists took over in Bolivia? Instead, we’ve got newspaper editorials such as the New York Times blaming the extraordinarily successful and popular democratically elected President of Bolivia for the coup which overthrew him and replaced him by fascists (and never using the word “coup,” except once derisively, by saying that “British Labour leader Jeremy Corbyn, cried ‘coup’” — as if it weren’t a coup — and making no mention whatsoever that it had been done by committed fascists).

Read more …

It’s been 5 years since the first whistleblower stepped forward. Who’s in jail?

US Digs Deeper Into Deutsche Role In Danske Money Laundering Scandal (R.)

The U.S. Department of Justice has in recent weeks stepped up its investigation into Deutsche Bank’s role in the 200 billion euro ($220 billion) Danske Bank money laundering scandal, four people familiar with the inquiry told Reuters. One source said the DoJ’s new line of inquiry is whether Deutsche helped move tainted money from Danske, Denmark’s largest lender, into the United States. If proven, that could lead to steep financial penalties. Officials from the DoJ, who have been working closely with Estonian prosecutors for around a year, have also begun cooperating with Frankfurt state prosecutors, the sources said. The Frankfurt prosecutors have been exploring Deutsche’s role in processing payments for the Danish bank.


The DoJ’s focus on Germany’s largest bank and its work with Frankfurt prosecutors have not previously been reported. A Danske spokesman said it continued to cooperate with the authorities in Estonia, Denmark, France and the United States. [..] Although the Justice Department requested information from Deutsche last year relating to Danske transactions, at the time its executives believed that the investigation was focused onDanske and that the German bank itself was not a target. However, Deutsche officials were made aware in recent months that the scope of the DoJ probe had broadened to the bank’s role in facilitating the Danske trades and its possible failure to report suspicious transactions quickly enough, one of the people said.

Read more …

No inflation.

Albert Edwards Is Watching To Decide When The US Becomes “Japanified” (ZH)

There is another reason why Edwards dismisses any incipient signs of inflation in the US: his latest piece is titled “Japanification of the US beckons”, in which he writes that despite the Fed’s recent announcement of a halt to further rate cuts, “GDP growth looks fragile and there is good evidence to suggest that core CPI inflation is set to collapse towards zero. In fact, a resumption of Fed easing on the back of recessionary data and sliding inflation is likely to accelerate the convergence of US yields towards negative eurozone and Japanese yields.” Hence, the Japanification of the US, and as he further notes, if the US economy slides into recession, it is clear that “inflation will likely fall ever closer toward Japanese-style deflation.

But a rapid decline in key inflation measures, like core CPI, may be beginning to unfold already, irrespective of whether a recession is about to start or not.” To make his point, Edwards points out the October CPI data which “shocked” him, but not for the surprisingly high 0.4% headline rise M/M, but because of a specific data set that he will now be watching very closely to determine if US inflation is indeed converging with that of Japan: shelter CPI. it was this key component of the CPI basket that last month collapsed to almost zero. And since shelter has a very heavy 33% weighting in the overall CPI and an overwhelmingly dominant 42% weighting in the closely watched core CPI (ie ex food and energy), it’s only a matter of time before the decline in shelter hits the broader inflation basket.

Read more …

Not what he said in the interview.

Prince Andrew ‘Has Kept In Constant Touch With Ghislaine Maxwell (DM)

Prince Andrew has kept in constant contact with billionaire paedophile Jeffrey Epstein’s ex-girlfriend Ghislaine Maxwell, it has been claimed today. The Duke of York, 59, invited Maxwell, 57, to Buckingham Palace in June, just a month before Epstein was arrested on sex trafficking charges. But a source has now claimed the pair have been in touch by phone and email throughout the scandal over the prince’s links to the convicted sex offender. They claim there is an ‘unswerving loyalty’ between the pair, who both deny any wrongdoing despite their close relationships with Epstein. The source told the Sun: ‘They have remained constantly in touch by phone and email. The Duke has an unswerving loyalty to Ghislaine and she is also very loyal to him.


‘Ghislaine will do anything to protect the Duke and the feeling is mutual. They both share the same view they have done nothing wrong.’ There is no indication of how the source knows about Andrew and Maxwell’s communications. In his car crash Newsnight interview Andrew claimed he had not spoken about Epstein when he was last in contact with Maxwell because he ‘wasn’t in the news’. [..] Ms Guiffre Roberts will give a tell-all interview to BBC Panorama tomorrow night in a programme that will also probe Maxwell’s involvement in Epstein’s criminal activity.

Read more …

They don’t have very much, do they? But yeah, why keep your gold stored abroad?

Serbia, Slovakia Join Sudden Eastern European Gold Repatriation Push

Just a few short days after Poland’s government touted its economic might after completing the repatriation of 100 tons of the barbarous relic; and with Hungary’s anti-immigrant Prime Minister Viktor Orban also ramping up holdings of the safe-haven asset to boost the security of his reserves, more Eastern European nationalist leaders are demanding their country’s gold back on home soil. As Bloomberg reports, former Slovak Premier Robert Fico, whose odds of returning to power are rising quickly, urged parliament to compel the central bank into repatriating the nation’s gold stocks, which are currently stored in the U.K.. Perhaps most vocally reflecting what many other nations also believe – sometimes your international partners can betray you.

Citing a 1938 pact by France, Britain, Italy and Germany allowing Adolf Hitler to annex a chunk what was then Czechoslovakia, Fico told reporters: “You can hardly trust even the closest allies after the Munich Agreement. I guarantee that if something happens, we won’t see a single gram of this gold. Let’s do it as quickly as possible.” Additionally, Serbia’s strongman leader Aleksandar Vucic took note, ordering the central bank to boost reserves and prompting the purchase of nine tons in October. Vucic said last week that more should be bought because “we see in which direction the crisis in the world is moving.”


The various leaders have a recent example to prove their fears right as the Bank of England refused to return Venezuela’s gold stock over political differences. “Gold is a symbol,” said Vuk Vukovic, a political economist in Zagreb. “When states purchase it, people everywhere see it as a sign of economic sovereignty.” The gold rush mirrors steps by Russia and China to diversify reserves exceeding $3 trillion away from the dollar amid flaring geopolitical tensions with the U.S.

Read more …

Interesting topic, and women need more say, but still, in many societies, women do a lot of things besides cooking and cleaning. That’s more of a western thing, and not even a modern one.

Who Cooked Adam Smith’s Dinner? (Marçal)

Men have always been allowed to act out of self-interest – as in economics, so in sex. For women, this freedom has been taboo. If not flat-out forbidden. Woman has been assigned the task of caring for others, not of maximizing her own gain. Society has told her that she cannot be rational because childbirth and menstruation tie her to the body, and the body has been identified as the opposite of reason. In women, lust and greed has always been criticized more harshly than it has in men. It has been viewed as something threatening, destructive, dangerous and unnatural. ‘People call me a feminist whenever I express sentiments that differentiate me from a doormat or a prostitute,’ wrote Rebecca West. Women have never been allowed to be as selfish as men.

And if economics is the science of self-interest, how does woman fit in? The answer is that man has been allowed to stand for self- interest and woman has stood for the fragile love that must be conserved. By being excluded. Even though the word ‘economy’ comes from the Greek oikos, which means home, economists have long been uninterested in what exactly happens at home. Woman’s self-sacrificing nature was said to tie her to the private sphere, and thus she was not economically relevant. Activities like raising children, cleaning, washing or ironing for her family – these don’t create tangible goods that can be bought, traded or sold. So they also didn’t contribute to prosperity, thought economists in the 1800s.


Prosperity was everything that could be transported, that had a limited supply, and that either directly or indirectly gave pleasure or prevented pain. This definition meant that everything that women were expected to dedicate themselves to went unseen. The fruits of male labour could be stacked in piles and measured in money. The results of women’s work were intangible. Dust that is swept away collects again. Mouths that have been fed grow hungry. Children who sleep, wake. And after lunch it’s time to do the dishes. After the dishes comes dinner. And more dirty dishes.

Read more …

In December 2015, when COP21 was held in Paris, I wrote in CON 21:

“COP21 is not a major event, that’s only what politicians and media make of it. In reality, it’s a mere showcase in which the protesters have been co-opted. They’re not in the director’s chair, they’re not even actors, they’re just extras.”

4 years later, nothing has changed. It’s still just theater.

What Is COP25 And Can It Save The World? (G.)

[..] There are far bigger issues hanging over COP, but they will not be decided this year, just hinted at. The biggest alarm is that the aspiration set in Paris to constrain temperature rises will require unprecedented efforts to achieve. But individual country commitments to steer the world towards that best-case scenario were not part of the binding Paris deal, but contained in a non-binding addition. So emissions are increasing again, temperatures are higher than ever, countries are not mandated by law to act – and time is running out: the IPCC concluded that on current rates we have little over a decade to halt emissions growth and bring down carbon rapidly to keep warming within the 1.5C threshold.


Current commitments made by national governments under the Paris agreement fall far short of what is required – taken together, they would still condemn the world to an estimated temperature rise of more than 3C by the end of the century. According to the UN’s latest “emissions gap” report, published a few days before the start of this year’s talks, countries must reduce their greenhouse gases by about 7.6% a year for the next 10 years, to stay within the 1.5C limit. Closing that gap will be COP26’s biggest task.

Read more …

 

 

 

Please support the Automatic Earth on Paypal and Patreon so we can continue to publish.

Top of the page, left and right sidebars. Thank you.

 

 

 

Dec 012019
 


Arthur Rothstein Family leaving South Dakota drought for Oregon Jul 1936

 

Fastest-Growing Debt Category In US Not Student Loans Or Credit Cards (CNBC)
Automakers Offer Record Incentives As Trillion Dollar Auto Bubble Bursts (ZH)
The Fed’s Answer to the Ghastly Monster of its Creation (EP)
Germany Closes All Nuclear Plants, Must Bury Waste For 1 Million Years (CNN)
Spanish Judge To Question Assange Over Ecuador Embassy Spying Claims (El Pais)
‘We’re Working For The Dark Side’: Firm Accused Of Spying On Assange (RT)
Tulsi Gabbard: Wake Up And Smell Our $6.4 Trillion Wars (AC)
OPCW Manipulation Of Douma Report Requires Fresh Look At Skripal Case (MoA)
Prince Andrew Meeting With US Authorities Would Be A ‘Catch-22’ (G.)
Will The Epstein Story Ever be Fully Told? (Rice)
Scott Adams Has Some Ideas for a Calmer Internet (Wired)

 

 

Here, have some money.

Fastest-Growing Debt Category In US Not Student Loans Or Credit Cards (CNBC)

It’s the fastest-growing debt category in the country, but if you are thinking student loans or credit cards, you’re wrong. Personal loan balances now exceed $300 billion, as of the second quarter of this year, according to Experian, a whopping 11% yearly increase. For good reason, too, as personal loans can help to consolidate credit card debt, or make funds available for major projects, such as a home remodeling effort. For many of us, the allure is hard to ignore, but personal loans do differ in some key ways from other types of credit you might use, such as credit cards. It’s important to understand the key differences before signing on the dotted line.


As compared to credit cards, personal loan interest rates can vary much more dramatically, according to research by ValuePenguin. In fact, some borrowers with excellent credit may qualify for loans with interest rates as low as 5% or 6% with some lenders. On the other hand, borrowers with poor credit may encounter rates higher than the average credit card, sometimes exceeding 30%. This wide range of interest rates make personal loans more affordable for those with better credit, and may make the most sense for borrowers with excellent credit who can pay off the loan in a timely manner. On the other hand, borrowers with poor or fair credit may face interest rates higher than what they’d otherwise qualify for with a credit card.

Read more …

Can we recognize an industry that is dying? Or do we simply refuse?

Automakers Offer Record Incentives As Trillion Dollar Auto Bubble Bursts (ZH)

Early last month, we outlined how automobile sales deteriorated in late summer and prophesized how “this would set the stage for increased incentive spending by carmakers, who will be desperate to clear inventory heading into the end of the year.” It seems that we were right. Automakers are now offering the most discounts on record to entice deadbeat consumers in November, according to a new report from JD Power. The average incentive spending per vehicle is $4,538, an increase of 12% YoY. The previous high for the industry was $4,378 in 4Q17. Inventories for older model-year vehicles have soared in 2H19, forcing automakers to boost incentive spending to clear excess inventory. With the average APR to finance a vehicle around 5.3% for the month, the average transaction price remained above $34,000, down from $179 from last month but up $622 over the year.

As a result of low rates and record-high incentives, consumers spent $40.3 billion on new vehicles in November. This figure is up $2.7 billion from 2018. Thomas King, Senior Vice President of the Data and Analytics Division at JD Power, said, manufacturers will offer even greater incentives through December, and the trend could continue into early 2020. “Incentive spending typically rises by 3-4% in December, which would continue to drive overall spending to unprecedented territory,” King said. King warned: “This [incentive trend] is concerning for the health of the industry when combined with rising sub-prime sales, which are growing at the highest rate since August 2018.”

Read more …

“..the bull market in stocks is not a function of a booming economy. Rather, it’s a function of Fed madness. And its existence becomes ever more perilous with each passing day.”

The Fed’s Answer to the Ghastly Monster of its Creation (EP)

The launch angle of the U.S. stock market over the past decade has been steep and relentless. The S&P 500, after bottoming out at 666 on March 6, 2009, has rocketed up over 370 percent. New highs continue to be reached practically every day. Over this stretch, many investors have been conditioned to believe the stock market only goes up. That blindly pumping money into an S&P 500 ETF is the key to investment riches. In good time, this conditioning will be recalibrated with a rude awakening. You can count on it. In the interim, the bull market may continue a bit longer…or it may not. But, to be clear, after a 370 percent run-up, buying the S&P 500 represents a speculation on price. A gamble that the launch angle furthers its steep trajectory. Here’s why…

Over the past decade, the U.S. economy, as measured by nominal GDP, has increased about 50%. This plots a GDP launch angle that is underwhelming when compared to the S&P 500. Corporate earnings have fallen far short of share prices. Hence, the bull market in stocks is not a function of a booming economy. Rather, it’s a function of Fed madness. And its existence becomes ever more perilous with each passing day. Central planners at the Fed – like other major central banks – have taken monetary policy to a state of madness. Zero interest rate policy, negative interest rate policy, quantitative easing, operation twist, quantitative tightening, reserve management, repo market intervention, not-QE, mass-asset purchases, and more.

These schemes have fostered massive growth in public and private debt with nothing but lackluster economic growth to show. What’s more, these schemes have produced massive asset bubbles that have skyrocketed wealth inequality and inflamed countless variants of new populism. Yet the clever fellows at the Fed are blind to the fact that they’re most responsible for fabricating this monster. And now they want to rectify the ghastly deformities of their creation… Earlier this week, for example, Minneapolis Fed President Neel Kashkari remarked that: “Monetary policy can play the kind of redistributing role once thought to be the preserve of elected officials.”

How exactly Mickey Mousing with credit markets could attain this objective is unclear. But, like yield curve control (YCC), Kashkari wants to give it a go. These sorts of amorphous meddling operations is how he answers his higher calling. You see, Kashkari’s a man with crazy eyes. But he’s also a man with even crazier ideas. He’s an extreme economic interventionist – and a crackpot. Though he wears his burdens on his sleeve. If you recall, as federal bailout chief, Kashkari functioned as the highly visible hand of the market. When the sky was falling in early-2009, he awoke each morning, put on his pants one leg at a time, drank his coffee, and rapidly funneled Treasury Secretary Hank Paulson’s $700 billion of TARP funds to the government’s preferred financial institutions.

Read more …

No human being can guarantee anything for a million years. It’s a mad mad claim.

Germany Closes All Nuclear Plants, Must Bury Waste For 1 Million Years (CNN)

When it comes to the big questions plaguing the world’s scientists, they don’t get much larger than this. Where do you safely bury more than 28,000 cubic meters – roughly six Big Ben clock towers – of deadly radioactive waste for the next million years? This is the “wicked problem” facing Germany as it closes all of its nuclear power plants in the coming years, according to Professor Miranda Schreurs, part of the team searching for a storage site. Experts are now hunting for somewhere to bury almost 2,000 containers of high-level radioactive waste. The site must be beyond rock-solid, with no groundwater or earthquakes that could cause a leakage. The technological challenges – of transporting the lethal waste, finding a material to encase it, and even communicating its existence to future humans – are huge.


Germany decided to phase out all its nuclear power plants in the wake of the Fukushima disaster in 2011, amid increasing safety concerns. The seven power stations still in operation today are due to close by 2022. With their closure comes a new challenge — finding a permanent nuclear graveyard by the government’s 2031 deadline. Germany’s Ministry for Economic Affairs and Energy says it aims to find a final repository for highly radioactive waste “which offers the best possible safety and security for a period of a million years.” The country was a “blank map” of potential sites, it added.

Read more …

Took 3 months. Normally, a matter of days.

Spanish Judge To Question Assange Over Ecuador Embassy Spying Claims (El Pais)

The British justice system has finally agreed to let a Spanish judge question WikiLeaks founder Julian Assange as a witness in a case involving allegations that a Spanish security firm spied on him while he was living in the Ecuadorian embassy in London. Judge José de la Mata of Spain’s High Court, the Audiencia Nacional, will interview the cyber-activist via video link on December 20, said judicial sources. Assange will be transferred from Belmarsh prison in southeast London to Westminster Magistrates Court to answer questions from De la Mata, who is investigating alleged violations of client-attorney privilege between the cyber-activist and his lawyers, and allegations that these conversations were passed on to the CIA.


British civil servants visited Assange in prison last week, asked him whether he agreed to be questioned by De la Mata, and delivered a document listing the events under investigation by the judge, who had issued a European Investigation Order (EIO) in September requesting assistance from British authorities. It has not been easy to secure the UK’s permission to question the Australian cyber-activist. The Spanish judge sent London the EIO on September 25, requesting authorization to interview Assange as part of an investigation into Morales and his company for breach of privacy, violation of client-attorney privilege and illegal arms possession.

Read more …

Has the guy been arrested yet?

‘We’re Working For The Dark Side’: Firm Accused Of Spying On Assange (RT)

A private security firm that allegedly spied on Julian Assange in the Ecuadorian Embassy in London bragged about its nefarious activities and ties to US intelligence, according to German public broadcaster NDR. The troubling revelations are part of a criminal complaint filed by NDR against Undercover Global, a Spanish security company contracted by the Ecuadorian government to film and review guests at their embassy in London. The firm is accused of using the commission to carry out a vast spying operation targeting the WikiLeaks co-founder, who sought political asylum in the embassy for seven years before his hosts handed him over to British authorities. The German broadcaster claims to have a huge cache of documents detailing the illegal surveillance operation – which also targeted NDR journalists who visited Assange.


Former employees of Undercover Global said that the company’s CEO, David Morales, didn’t try to hide his ties to the US government. Upon returning from a trip to the United States, Morales allegedly told one of his employees: “From now on, we play in the first league… We are now working for the dark side.” He is said to have traveled up to twice a month to the States to deliver materials taken from the Ecuadorian Embassy. When asked by colleagues who his “American friends” were, Morales reportedly replied: “the US Secret Service.” Incredibly, a lawyer from Undercover Global acknowledged to NDR that the company works with US intelligence agencies – but denied any wrongdoing at the Ecuadorian Embassy.

Read more …

“..our wars have killed 801,000 directly and resulted in a multiple of that number dead indirectly..”

Tulsi Gabbard: Wake Up And Smell Our $6.4 Trillion Wars (AC)

The Democratic establishment is increasingly irritated. Representative Tulsi Gabbard, long-shot candidate for president, is attacking her own party for promoting the “deeply destructive” policy of “regime change wars.” Gabbard has even called Hillary Clinton “the queen of warmongers, embodiment of corruption, and personification of the rot that has sickened the Democratic Party.” [..] Gabbard recognizes that George W. Bush is not the only simpleton warmonger who’s plunged the nation into conflict, causing enormous harm. In the last Democratic presidential debate, she explained that the issue was “personal to me” since she’d “served in a medical unit where every single day, I saw the terribly high, human costs of war.”

Compare her perspective to that of the ivory tower warriors of Right and Left, ever ready to send others off to fight not so grand crusades. The best estimate of the costs of the post-9/11 wars comes from the Watson Institute for International and Public Affairs at Brown University. The Institute says that $6.4 trillion will be spent through 2020. They estimate that our wars have killed 801,000 directly and resulted in a multiple of that number dead indirectly. More than 335,000 civilians have died—and that’s an extremely conservative guess. Some 21 million people have been forced from their homes. Yet the terrorism risk has only grown, with the U.S. military involved in counter-terrorism in 80 nations. Obviously, without American involvement there would still be conflicts.

Some counter-terrorism activities would be necessary even if the U.S. was not constantly swatting geopolitical wasps’ nests. Nevertheless, it was Washington that started or joined these unnecessary wars (e.g., Iraq, Libya, Syria, and Yemen) and expanded necessary wars well beyond their legitimate purposes (Afghanistan). As a result, American policymakers bear responsibility for much of the carnage. The Department of Defense is responsible for close to half of the estimated expenditures. About $1.4 trillion goes to care for veterans. Homeland security and interest on security expenditures take roughly $1 trillion each. And $131 million goes to the State Department and the U.S. Agency for International Development, which have overspent on projects that have delivered little.

More than 7,000 American military personnel and nearly 8,000 American contractors have died. About 1,500 Western allied troops and 11,000 Syrians fighting ISIS have been killed. The Watson Institute figures that as many as 336,000 civilians have died, but that uses the very conservative numbers provided by the Iraq Body Count. The IBC counts 207,000 documented civilian deaths but admits that doubling the estimate would probably yield a more accurate figure. Two other respected surveys put the number of deaths in Iraq alone at nearly 700,000 and more than a million, though those figures have been contested. More than a thousand aid workers and journalists have died, as well as up to 260,000 opposition fighters. Iraq is the costliest conflict overall, with as many as 308,000 dead (or 515,000 from doubling the IBC count). Syria cost 180,000 lives, Afghanistan 157,000, Yemen 90,000, and Pakistan 66,000.

Read more …

“..a psycho agent 25 times stronger than LSD..”

OPCW Manipulation Of Douma Report Requires Fresh Look At Skripal Case (MoA)

The OPCW had send blood samples from the Skripals to the Spiez laboratory in Switzerland which found BZ, a psycho agent 25 times stronger than LSD. The OPCW hid this fact in its reports. An attack with BZ on the Skripals would be consistent with the observed symptoms that bystanders had described. The Skripals were indeed hallucinating and behaved very strangly with Sergei Skipal lifting his arms up to the sky while sitting on a bench. Exposure to BZ would also explain the Skripals’ survival. The OPCW explained the BZ find by claiming that it had mixed BZ into the probe to test the laboratory. Something which it said it regularly does. At that time I still believed in the OPCW and found that explanation reasonable:

“The OPCW responded to Russian question about the BZ and high rate of A-234 in the Spiez Laboratory probe and report. OPCW said today that it was a control probe to test the laboratory. Such probes are regularly slipped under the real probes to make sure that the laboratories the OPCW uses are able to do their job and do not manipulate their results. That explanation is reasonable. I guess we can close the BZ theories and go back to food poisoning as the most likely cause of the Skripals’ illness.” In light of the OPCW management manipulation or suppression of the reports of its own specialists for the purpose of attributing the Douma incident to the Syrian government I have to change my opinion. I hereby retract my earlier acceptance of the OPCW’s explanation in the Skripal case.

As we now know that the OPCW management manipulates reports at will we can no longer accept the ‘control probe’ excuse without further explanations or evidence. Here is what seems to have happened. The OPCW did not send a control sample to Spiez to test the laboratory. It sent the original samples from the Skripals. Spiez found BZ and reported that back to the OPCW. The OPCW suppressed the Spiez results in its own reports. Somehow Russia got wind of the Spiez results and exposed the manipulation. Acceptance that the Skripals had been ‘buzzed’, not ‘novi-shocked’ is central to the Skripal case. It makes the whole Skripal case as a British operation to prevent the repatriation of Sergei Skripal to Russia much more plausible.

Read more …

They can’t even serve him with a subpoena because his staff would shield him. Time for the Queen to do the right thing. Or abdicate.

Prince Andrew Meeting With US Authorities Would Be A ‘Catch-22’ (G.)

Prince Andrew is not charged with wrongdoing but with the BBC airing an interview with Giuffre on 2 December the controversy is only likely to ramp up. [..] If Prince Andrew were lawfully served with a subpoena – be it for a grand jury, or a trial or deposition – generally speaking, he will need to comply. However, it is far more difficult to serve him outside the US. “Due to the heightened measures of security that surround the royal family, it certainly is far more difficult to walk up to a member of the royal family and serve them a subpoena as you would a private citizen,” Weinstein said. While there are rules about how to serve subpoenas on a foreign national on US soil, such as surprising them at points of entry, diplomatic immunity and his being a high-profile royal could further complicate the issue.

Rebecca Roiphe, a New York Law School professor and former assistant district attorney in Manhattan, said there could be legal risks in Prince Andrew cooperating depending on his potential involvement with Epstein’s activities. “If he was peripherally involved in that, if he has information about others, I would say absolutely any attorney would take him in to cooperate,” Roiphe said. “The problem is, if he faces serious exposure and he’s a target of that information, most attorneys would not have him explain everything he knows – it really depends.” Mary Ellen O’Toole, who was formerly an FBI profiler deeply involved in finding the Unabomber killer, said that if Prince Andrew could provide information that would further the investigation and clear him at the same time, it “probably would be very helpful to him” to come forward.

O’Toole said the utility in cooperating with authorities largely depends on how he would handle the situation and that the pitfalls of such an interview were real as being untruthful with authorities can flout laws against making false statements, leading to further legal problems stemming from the interviews themselves. “I think it would be considered an adversarial situation – I don’t know how prepared he would be,” said O’Toole, who now directs the forensic science department at George Mason University in Virginia. “Sometimes people come in and say things that get them jammed up. “It is a catch-22 situation for him,” O’Toole said.

Read more …

Hell no.

Will The Epstein Story Ever be Fully Told? (Rice)

Every person named in court documents or press reports as allegedly or possibly having sex with an underaged girl or young woman at Epstein’s bequest has denied the allegations. Which begs the question: Who’s telling the truth and who’s lying? To form an opinion on this central question, authorities would presumably need to interview anyone with possible knowledge of alleged sexual or criminal acts. Investigators could then seek information that either corroborates or impeaches each person’s account. However, evidence is growing that the protocol in a typical “he-said, she-said” investigation is not being followed in the Epstein case. Instead, authorities may have simply accepted as truth the statements of denial issued by powerful public figures.

True or not, many Americans believe the Department of “Justice” will not prosecute (perhaps even question) scores of individuals who may have broken U.S. laws and who may have been victims of a disturbing blackmail operation. Perhaps authorities have concluded it’s better to not know. Perhaps they realize if they interview one suspected “John,” they’ll have to interview every potential “John.” if this number ends up being massive, and includes a Who’s Who of our society, important illusions about society’s leaders and our system of justice could be shattered. At its core, the Epstein case will reveal whether government prosecutors and investigators possess the courage and integrity to expose sordid truths about some of the wealthiest, most-connected, powerful people in the world, and perhaps reveal embarrassing truths about our government.

Americans might soon learn what objective is more important to Justice Department officials: Protecting the rich and powerful from the consequences of their behavior, or confirming that a system of justice grounded in trust can still be trusted. Sadly, many Americans are convinced authorities will not do the right thing. However, in proving skeptics wrong, authorities would accomplish at least four objectives, all noble. They would punish the guilty. They would provide justice to victims too long ignored. They would deter future Epsteins and future “Johns,” especially those unaccustomed to being held accountable for their actions. And, perhaps most importantly, they would allow a ray of sunshine to pierce the shadow of cynicism that’s spread across our country.

Read more …

“..the “48-hour rule,” states that everyone should be given a grace period of a couple of days to retract any controversial statement they’ve made..”

“..the “20-year rule,” which states that everyone should be automatically forgiven for any mistakes they made more than two decades ago—with the exception of certain serious crimes..”

Scott Adams Has Some Ideas for a Calmer Internet (Wired)

After expressing support for Donald Trump in 2016, Dilbert creator Scott Adams estimates that he lost about 30 percent of his income and 75 percent of his friends. He says that that level of political polarization has created a climate of genuine fear. “People will come up, and they’ll usually whisper—or they’ll lower their voice, because they don’t want to be heard—and they’ll say, ‘I really like what you’re doing on your Periscope, and the stuff you’re saying about Trump,’” Adams says in Episode 389 of the Geek’s Guide to the Galaxy podcast. “They’re actually afraid to say it out loud. They literally whisper it to me in public places.” Adams blames the current climate on social media and a clickbait business model that rewards sensationalism over fact-based reporting.

Since the technology is here to stay, he says we’re going to need new societal norms to help foster a calmer, more constructive political discourse. “When society changes, every now and then you need a new rule of manners,” he says. “So for example, when cell phones were invented, you needed a new set of rules about where can you use them and can you do it in a restaurant, etc. And social media has gotten so hot, I thought maybe we need a few new rules.” He lays out two such rules in his new book, Loserthink. His first proposal, which he calls the “48-hour rule,” states that everyone should be given a grace period of a couple of days to retract any controversial statement they’ve made, no questions asked. “We live in a better world if we accept people’s clarifications and we accept their apologies, no matter whether we think—internally—it’s insincere,” he says.

His other idea is the “20-year rule,” which states that everyone should be automatically forgiven for any mistakes they made more than two decades ago—with the exception of certain serious crimes. It used to be the case that people’s thoughtless remarks and embarrassing gaffes would naturally fade into obscurity, but social media has created a situation where it’s easy to endlessly dredge up a person’s worst moments. “We’re not the same people that we were 20 years ago,” Adams says. “We’ve learned a bunch, our context has changed. If you’re doing all the right stuff, you’re getting smarter and kinder and wiser as you’re getting older. So being blamed for something you did 20 years ago is effectively being blamed for something a stranger did, because you’re just not that person anymore.”

Read more …

 

 

 

Please support the Automatic Earth on Paypal and Patreon so we can continue to publish.

Top of the page, left and right sidebars. Thank you.

 

 

 

Nov 292019
 
 November 29, 2019  Posted by at 9:53 am Finance Tagged with: , , , , , , , ,  13 Responses »


Dorothea Lange Negro woman who has never been out of Mississippi July 1936

 

The Limits of Lagarde (Varoufakis)
Millennials Have a Right To Be Pissed at Boomers (Vice)
What’s Behind the Subprime Consumer Loan Implosion? (WS)
DOJ Watchdog Expected To Downgrade ‘Spying’ On Trump Campaign (ZH)
Papua New Guinea Faces Cash Crunch As China Repayment Schedule Ramps Up (R.)
Britain’s Chief Rabbi Mirvis Is Helping to Stoke Antisemitism (Cook)
Boris Johnson Replaced By Melting Ice Block In TV Debate (R.)
Greeks Are Last In Welfare Chart (K.)
‘There Is Only One Of Us Telling The Truth’ – Virginia Giuffre (Ind.)
Prince Andrew’s Ex Mulling Bombshell Tell-All Book (NYP)
How Prince Andrew Forced Me To Recognise The Hollowness Of The Crown (G.)

 

 

In my view this is far too close to “I was only following orders”. Draghi, Lagarde, Bernanke et al are responsible for their own actions.

The Limits of Lagarde (Varoufakis)

Shortly after the Eurogroup meeting of Eurozone finance ministers on June 27, 2015, I bumped into a worried-looking Mario Draghi, the president of the European Central Bank. “What on earth is Jeroen doing?” he asked me, referring to Jeroen Dijsselbloem, the Eurogroup’s then-president. “Damaging Europe, Mario. Damaging Europe,” I replied. He nodded, looking concerned. We took the elevator to the ground floor and parted silently. Journalists find it natural to assume that Draghi and I had a hostile relationship during the 2015 standoff between Greece, which I represented, and the ECB. But the impasse at which we had become stuck was not caused by a clash of characters, and it involved no mutual recrimination. Rather, it reflected an institutional failure for which I never held Draghi personally responsible. Hostility between us, being unnecessary, was absent.

My fleeting exchange with him came to mind as he recently vacated the electric chair amid much speculation about the ECB’s future direction under his successor, Christine Lagarde. It reminded me of the unacknowledged powerlessness of the ECB president, who leads a mighty institution that is far less independent in practice than it is in theory. Lagarde will now have to reckon with that powerlessness as she steers the ECB in a sea of deflationary hazards. During 2015, Draghi sometimes made decisions detrimental both to the Greek people and to Europe’s common interest. One came on February 4. On that morning, following a meeting I had in London the previous day with financiers to whom I presented my plans for a moderate debt restructuring, the Athens stock exchange index shot up by 13%, led by a gain of more than 20% for Greek bank shares.

With that wind in my sails, I flew to Frankfurt to meet Draghi for the first time. One might think that a freshly appointed eurozone finance minister who had just managed to boost his country’s financial assets significantly would be helped by his central banker. Instead, the ECB’s governing board decided the same day to sever Greek banks’ access to euro liquidity. Unsurprisingly, Greek corporate and banking shares crashed, wiping out the previous day’s gains. In any other country, the position of the central banker would be untenable. The remit of a central bank is to aid the government’s efforts to stabilize finance and support the economy. In the eurozone, however, political constraints force the central bank to inflict the kind of damage Draghi’s ECB visited upon our stock exchange that February afternoon.

Read more …

And they will have a lot more right soon.

Millennials Have a Right To Be Pissed at Boomers (Vice)

Just how badly are millennials being screwed out of wealth? Let’s take a look at the data. The Federal Reserve regularly publishes data on the generational gaps in wealth. The boomers have plenty of it, and millennials don’t. That’s no surprise — the boomers are older. But what recent data also clearly shows is that when the boomers were millennials’ age, they had significantly more than millennials do today. Back in 1989, when boomers were between 25 and 43, they already owned 20.9% of the country’s wealth, according to data from the Federal Reserve updated earlier this month. In 2019, millennials are between 23 and 38, and they currently own a whopping 3.2% of wealth. That means boomers had more than six times as much wealth in 1989 as millennials do now.


“I definitely think millennials have a bunch to be uniquely annoyed about,” said Josh Bivens, research director at the Economic Policy Institute. “Lots of them graduated into a horrible labor market, and they’ve probably been very stunted in their ability to get on the treadmill of earning enough to actually save anything.” Looking at wealth over time, any given generation would start out with nothing. (Children don’t own stuff.) As time passes, they’d accumulate wealth, and, eventually, people die and tend to pass their wealth on as inheritance.

Read more …

“Back in 2016, the credit-card delinquency rate at these banks was in the 3% range. It has more than doubled in two years.”

What’s Behind the Subprime Consumer Loan Implosion? (WS)

OK, we’ve got a situation in subprime consumer loans. The delinquency rate on credit-card loan balances at the nearly 5,000 smaller commercial banks in the United States – this means all banks except the largest 100 – is blowing out, according to Federal Reserve data. In the third quarter, the delinquency rate at these banks rose to 6.25%. That’s higher even than during the peak of the Financial Crisis. Back in 2016, the credit-card delinquency rate at these banks was in the 3% range. It has more than doubled in two years. Credit card balances are considered delinquent when they’re 30 days or more past due. This delinquency rate means that out of the banks total credit card balances, 6.25% are 30 days or more past due. This is a disturbingly large rate.


But delinquencies are a flow. Balances are removed from the delinquency basket either when the customer cures the delinquency, such as catching up with past-due payments, or when the bank “charges off” the delinquent balance against its loan loss reserves. But as these delinquent balances were taken out of the delinquency basket, even more new delinquencies fell into the basket, and the delinquency rate rose. Subprime auto loans have also been blowing out. In the third quarter, the serious delinquency rate of the $1.3 trillion in auto loans has risen to 4.71%, the highest since the worst months of the Financial Crisis, when the auto industry collapsed, and when the US was facing the worst unemployment crisis since the Great Depression. In the third quarter, about 21% of all subprime auto loans were seriously delinquent – meaning 90 days past due.

Read more …

The DOJ/Deep State protects its own?

DOJ Watchdog Expected To Downgrade ‘Spying’ On Trump Campaign (ZH)

In late September, RealClearInvestigations’ Paul Sperry suggested that Inspector General Michael Horowitz – tasked with investigating and exposing wrongdoing at the highest levels – was feared to be pulling punches in order to protect establishment darlings in his upcoming report on the Russia investigation. Now we learn that Horowitz, who volunteered on several Democratic political campaigns while in college and is married to a former liberal political activist, Obama donor and CNN employee, is expected to conclude that the FBI didn’t spy on the Trump campaign. Instead, when longtime FBI / CIA asset Stephan Halper and his undercover FBI ‘assistant’ named “Azra Turk” befriended George Papadopoulos, it was nothing more than “typical law enforcement activities,” according the New York Times.

“Mr. Horowitz found no evidence that Mr. Halper tried to infiltrate the Trump campaign itself, the people familiar with the draft report said, such as by seeking inside campaign information or a role in the organization. The F.B.I. also never directed him to do so, former officials said. Instead, Mr. Halper focused on eliciting information from Mr. Page and Mr. Papadopoulos about their ties to Russia. [..] Mr. Trump and his allies have pointed to some of the investigative steps the F.B.I. took as evidence of spying, though they were typical law enforcement activities. -NYT. Recall that the Obama administration had paid Halper over $1 million over a several years, with nearly half of it surrounding the 2016 election.

The report is also expected to conclude that Maltese professor Joseph Mifsud – who fed Papadopoulos the rumor that Russia had dirt on Hillary Clinton – is not an FBI informant. Mifsud, a self-described member of the Clinton Foundation, has been painted by Western media as a Russian asset. Except, nobody claimed Mifsud was an FBI informant. As The Conservative Treehouse notes, “The concern has always been Mifsud was a western intelligence asset, perhaps CIA.” Moreover, Horowitz will conclude that while the FBI was ‘careless and unprofessional’ in pursuing a wiretap on Trump campaign adviser Carter Page, and that a ‘front-line lawyer’ Kevin Clinesmith, 37, fabricated evidence to support a FISA spy warrant renewal against Page, that the underlying justification to go after Page remained intact.

Read more …

Belt and Road.

Papua New Guinea Faces Cash Crunch As China Repayment Schedule Ramps Up (R.)

Papua New Guinea’s annual debt repayments to China are forecast to increase 25% by 2023, new budget figures show, at the same time as the Pacific nation falls to its largest ever deficit. The resource-rich archipelago, which is at the center of a diplomatic tussle between China and the United States, has blamed extravagant spending by the previous administration for its souring finances, which will require the government to borrow even more to pay the bills. Balancing its books has been made more difficult by recalculations to the country’s outstanding debt. It has soared 10 percentage points since the last annual budget to 42% of GDP, above the legal limit of 35%.


“You have some of those loans clicking in; the repayments are going to be a problem,” said Paul Barker, executive director of Port Moresby-based think tank the Institute of National Affairs. Formerly administered by U.S. ally Australia, PNG has in recent years turned increasingly to China for financing as Beijing becomes a bigger player in the region. The U.S. has repeatedly warned that China was using “predatory economics” to destabilize the Indo-Pacific; a charge strongly denied by Beijing.

Read more …

Yup.

Britain’s Chief Rabbi Is Helping to Stoke Antisemitism (Cook)

Chief rabbi Ephraim Mirvis has not only misrepresented the known facts about Labour and its supposed antisemitism crisis. He has not only interfered in an overtly, politically partisan manner in the December 12 election campaign by suggesting that Jeremy Corbyn – against all evidence – is an antisemite. By speaking out as the voice of British Jews – a false claim he has allowed the UK media to promote – his unprecedented meddling in the election of Britain’s next leader has actually made the wider Jewish community in the UK much less safe. Mirvis is contributing to the very antisemitism he says he wants to eradicate. Mirvis’ intervention in the election campaign makes sense only if he believes in one of two highly improbable scenarios.

The first requires several demonstrably untrue things to be true. It needs for Corbyn to be a proven antisemite – and not just of the variety that occasionally or accidentally lets slip an antisemitic trope or is susceptible to the unthinking prejudice most of us occasionally display, including (as we shall see) Rabbi Mirvis. No, for Mirvis to have interfered in the election campaign he would need to believe that Corbyn intends actively as prime minister to inflame a wider antisemitism in British society or implement policies designed to harm the Jewish community. And in addition, the chief rabbi would have to believe that Corbyn presides over a Labour party that will willingly indulge race-hate speeches or stand by impassively as Corbyn carries out racist policies.

If Mirvis really believes any of that, I have a bridge to sell him. Corbyn has spent his entire political career as an anti-racism campaigner, and his anti-racism activism as a backbencher was especially prominent inside a party that itself has traditionally taken the political lead in tackling racism. The second possibility is that Mirvis doesn’t really believe that Corbyn is a Goebbels in the making. But if that is so, then his decision to intercede in the election campaign to influence British voters must be based on an equally fanciful notion: that there is no significant threat posed by antisemitism from the right or the rapidly emerging far right. Because if antisemitism is not an issue on the right – the same nationalistic right that has persecuted Jews throughout modern history, culminating in the Nazi atrocities – then Mirvis may feel he can risk playing politics in the name of the Jewish community without serious consequence.

Read more …

I thought it was funny. But Boris threatens to take Channel 4’s licence away.

Boris Johnson Replaced By Melting Ice Block In TV Debate (R.)

British broadcaster Channel 4 represented Prime Minister Boris Johnson with a block of melting ice in a prime-time election debate on the environment on Thursday, prompting his Conservative Party to complain this broke impartiality rules. The commercially funded public-service broadcaster invited leaders of all Britain’s main political parties to take part in the debate before Dec. 12’s election, but both Johnson and the leader of the Brexit Party, Nigel Farage, declined to attend. The Conservative Party offered former environment minister Michael Gove as a substitute, but the broadcaster said the debate was only intended for party leaders, and that the other political parties would not agree to change the terms.


“This effectively seeks to deprive the Conservative Party of any representation and attendance,” the Conservatives wrote in a letter of complaint to broadcast regulator Ofcom. British television broadcasters are required to be politically impartial, and face extra balance requirements during election periods. Ofcom can fine broadcasters that do not comply, and as a last resort can cancel a broadcaster’s license. The Conservatives said Thursday’s disagreement was “part of a wider pattern of bias by Channel 4 in recent months”. The broadcaster’s head of news and current affairs, Dorothy Byrne, described Johnson as “a known liar” in a major industry speech in August.

Read more …

“Six out of 10 Greeks have delayed paying at least one utility bill over the last 12 months..”

Greeks Are Last In Welfare Chart (K.)

Six out of 10 Greeks have delayed paying at least one utility bill over the last 12 months, and in seven out of 10 of those cases it’s not just a one-off incident but a regular occurrence. Some of those who eventually do pay their bills do so with borrowed money, mainly from friends, according to the findings of the European Consumer Payment Report 2019. The survey of 24,000 consumers in 24 European countries by Swedish company Intrum has brought to light a number of worrying trends on the European level, such as a return to excessive consumer borrowing, something that is spurred considerably by easy access to credit cards and loans obtained via the internet or the telephone, for example.


The report showed that 61 percent of Greeks had failed to pay at least one bill in the previous 12 months, which is the highest rate among the 24 countries surveyed and almost twice the European average of 33 percent. Worse, 68 percent of those who failed to pay on time said they did so regularly, also the highest rate in Europe, against an average rate of 47 percent. Furthermore, Greeks also had the highest rate (40 percent) of people who had borrowed money or maxed out their credit cards. The European average stands at just 24 percent, based on data from the 24 countries surveyed by Intrum.

Read more …

Three articles on Proice Andrew, just to indicate how much the pressure increases. Will The Firm give him up to save itself?

‘There Is Only One Of Us Telling The Truth’ – Virginia Giuffre (Ind.)

The woman who claims she was forced into sex with Prince Andrew as a teenager said in her first UK interview: “He knows what happened, I know what happened and there’s only one of us telling the truth.” Virginia Giuffre, previously known as Virginia Roberts, said being caught up with the Duke of York and Jeffrey Epstein was “a really scary time in my life”. The BBC‘s Panorama programme released a trailer on Twitter of its upcoming episode, which features an interview with Ms Giuffre, who claims she was made to sleep with Andrew when she was 17. The hour-long episode, titled The Prince and the Epstein Scandal, will be screened on BBC One on Monday.

Ms Giuffre alleges the duke had sex with her on three separate occasions. He denies the allegations and has insisted he has “no recollection of ever meeting this lady”. Ms Giuffre has also criticised the Metropolitan Police for failing to investigate her allegations. In a statement on Thursday, the Met said it stood by its decision not to investigate claims by the duke’s accuser, and added that officers had spoken to other law enforcement agencies but have “not received a formal request asking for assistance”. The Met said it reviewed its previous decision that it was “not the appropriate authority to conduct inquiries in these circumstances” following Epstein’s death in August, and that its position remained unchanged.

Epstein took his own life in a New York prison while he was being held on sex trafficking charges. William Barr, the US attorney general, has slapped down conspiracy theories claiming the trafficker was murdered, saying that he died in a “perfect storm of screw-ups”.

Read more …

Publishers can’t not look at this, it’s too lucrative.

Prince Andrew’s Ex Mulling Bombshell Tell-All Book (NYP)

Prince Andrew’s socialite ex is considering penning an explosive tell-all book — including details of a dinner party with Jeffrey Epstein attended by both Bill Clinton and Donald Trump, it was claimed Thursday. Lady Victoria Hervey, 43, has already been doing interviews discussing her brief fling with the Duke of York and how it threw her into the heart of Epstein’s depraved world. She says she was introduced to the pedophile by his accused madam Ghislaine Maxwell — who she likened to a James Bond character — and feels she only escaped Epstein’s clutches because she was “too old.” But Hervey kept back many of the juiciest details, which she now could put in an explosive book that could further embarrass the disgraced duke, according to The Sun.


“There is a lot that she has never revealed about the Royal family, members of high society and big-named stars,” a source close to her told the paper. “She’s done many interviews but has always kept many things under her belt. “She feels like now is the right time to get some things off her chest — including about Prince Andrew, Jeffrey Epstein and Ghislaine Maxwell. “She’d been a part of that social scene for many years.” Hervey’s “really explosive life” also includes “debauched drug-fueled parties, threesomes with celebrities — all sorts,” the source told The Sun of her book plans. “She has had a lucrative offer to write a book and she’s definitely considering it,” the source said.

Read more …

G-d only knows why anyone would want to watch this sort of thing, but now the royal family is forever linked to pedophilia.

How Prince Andrew Forced Me To Recognise The Hollowness Of The Crown (G.)

Before the advent of The Crown – the Netflix show, not the institution – Princess Margaret was widely regarded as a snobbish, spiteful creature. That image has been refurbished: to fans of the show, she is firmly established as poor Margaret, the dazzling, tragic second fiddle to the Queen, who only wanted a meaningful role. After two seasons, I had been thinking of Margaret this way myself, while gussying up uncharacteristically warm feelings for the royals. The Queen does a good job, I thought. So what if she’s a little dull, isn’t that the bedrock of service – dependability? It’s not often one has one’s delusions dismantled in real time, but so it has been, this past fortnight, witnessing Prince Andrew’s flagrant awfulness in tandem with The Crown’s terrible third season. The experience has been like a sudden, dramatic return to reason.

There was never a subversive element to The Crown, and nor was there need for one. As we know from the small amount of documentary footage that exists of the Queen in her off-hours, the most outlandish drama one can eke from the royals lies in the depiction of them doing “ordinary” things: watching TV, smiling. This drama only works if one is willing to be charmed, a feat that the early seasons achieved. They also adhered to the narrative put forward by the House of Windsor itself: however misguided its application, the animating principle of all royals – with the exception of Edward VIII – was duty, honour, loyalty. If the royals have a fault, the show suggests, it is that they take these principles too seriously, particularly when they come into conflict with more human considerations.

In Prince Andrew’s catastrophic TV interview, the precise, delusional nature of his language – his now infamous line, “my judgment was probably coloured by my tendency to be too honourable” – mirrored so exactly the ethos of the show, it could have served as its tag line. One can only imagine how the script, in its current form, would treat Andrew’s predicament: as the story of a prince crushed by the weight of his own nobility; the tragedy of a man whose saucy impulses had nowhere to go.

Read more …

 

 

 

Please support the Automatic Earth on Paypal and Patreon so we can continue to publish.

Top of the page, left and right sidebars. Thank you.

 

 

 

Nov 242019
 
 November 24, 2019  Posted by at 9:51 am Finance Tagged with: , , , , , , , ,  21 Responses »


Pablo Picasso Portrait de femme (Dora Maar) 1943

 

Does Trump Have Bunch Of ‘Losers’ To Thank For Growing Economy? (Charlie Hall)
Phase 2 of the Great American Shale Oil & Gas Bust (WS)
Britain’s Carmakers Fear The Wheels Are Coming Off (G.)
Brick & Mortar Melts Down as Ecommerce Jumps by Most Ever (WS)
Ukraine, Trump, & Biden – The Real Story Behind “Ukrainegate” (Zuesse)
Yes, Ukraine Interference In The 2016 Presidential Election (Levine)
Internal OPCW E-Mail (WikiLeaks)
New Sexed-Up Dossier Furore: The Leaked Email In Full (DM)
How The Firm Lost Its Grip (O.)
Met Faces New Questions Over ‘Trafficked’ Teen In Epstein Case (G.)
Pilger Blasts ‘Cruel’ Media Coverage Of Julian Assange (RT)

 

 

Good friend Charlie Hall on America’s reality. Shale losses keep on coming.

Does Trump Have Bunch Of ‘Losers’ To Thank For Growing Economy? (Charlie Hall)

U.S. oil production originally peaked in 1970, and gas in 1973, but declined through 2007, when production was revitalized by the process of lateral drilling and “fracking.” This technological miracle allowed us to exploit deposits formerly considered low-grade. Now the United States produces more oil than it ever has, and is, with Saudi Arabia and Russia, one of the top three oil producers in the world. Fracking has also reversed the long decline of U.S. natural gas production, allowing the substitution of gas for coal and a proliferation of cheap plastics. But, curiously, this renaissance of petroleum in the United States has not led to a resurgence of profits in the oil and gas industry.

Quite the opposite, because almost none of the companies that have invested in fracking are turning a profit. Investors in this industry are losing a lot of money, some $83 billion since 2008, according to oil analyst Arthur Berman. This situation means that relatively cheap oil and gas are keeping the U.S. economy strong. But this cheap oil and gas is being partially subsidized by investors who are either losing money or receiving a poor return on investment. In this respect, President Trump has these financial “losers” to thank for a large part of the current health of the U.S. economy. This relation among oil supplies, prices and the political winds is not new and works both ways.

Presidents Gerald Ford and Jimmy Carter were in office during the economically disastrous increase in the price of oil from less than $4 a barrel in 1972 to more than $35 in 1979. Both lost in their reelection bids. In 1980 and 1984, Ronald Reagan ran on a platform of “Let’s make America Great again” and “It’s morning again in America,” which coincided with the decline in oil prices during the 1980s. In the U.K., Margaret Thatcher was floundering in popularity in 1980, but then received most of the credit for the remarkable recovery of the U.K. economy. Was it her conservative management style, or the development of the North Sea oil, which occurred on her watch? Now that the North Sea oil boom is over, the U.K. economy is struggling again.

Read more …

And there’s more. Chesapeake is but one example.

Phase 2 of the Great American Shale Oil & Gas Bust (WS)

In 2019 through third quarter, 32 oil and gas drillers have filed for bankruptcy, according to Haynes and Boone. Since the end of September, a gaggle of other oil and gas drillers have filed for bankruptcy, including last Monday, natural gas producer Approach Resources. This pushed the total number of bankruptcy filings of oil and gas drillers since the beginning of 2015 to over 200. Other drillers, such as Chesapeake Energy, are jostling for position at the filing counter. Chesapeake has been burning cash ever since it started fracking. To feed its cash-burn machine, it has borrowed large amounts and has been buckling under its debt for years, selling assets to raise cash and keep drilling for another day.

But its debt is still nearly $10 billion. Its shares [CHK] closed on Friday at 59 cents. On November 5, in an SEC filing, it warned of its own demise unless oil and gas prices surge into the sky asap: “If continued depressed prices persist, combined with the scheduled reductions in the leverage ratio covenant, our ability to comply with the leverage ratio covenant during the next 12 months will be adversely affected which raises substantial doubt about our ability to continue as a going concern.” In early 2016, during Phase 1 of the oil bust — which had started in mid-2014 — Chesapeake had already used the threat of bankruptcy to push its creditors into accepting a debt restructuring. At the time, it was the second largest natural gas producer in the US.

The debt restructuring reduced its debt burden somewhat and pushed maturities out, which then allowed it to borrow new money from new investors with a series of bond sales. This coincided with the Wall Street floodgates reopening to the oil and gas sector, when PE firms, hedge funds, and distressed-debt funds piled billions of dollars into the sector, and many of the oil and gas drillers were able to raise more cash to burn. Chesapeake’s series of bond sales that it then undertook included, in January 2018, $1.25 billion of senior unsecured convertible notes with a coupon of 5.5%, due in September 2026. It issued those bonds at a discount, but by July 2018, a few months before Phase 2 of the oil bust set in, the bonds were trading at 103 cents on the dollar. On Friday, the last trade was at 45 cents on the dollar, giving these bonds a yield of over 21%:

Read more …

But still fascinated with Musk. Why?

Britain’s Carmakers Fear The Wheels Are Coming Off (G.)

The Society of Motor Manufacturers and Traders is due to release numbers this week on car, commercial vehicle and engine manufacturing – figures that so far this year have been in reverse. At its last outing, the SMMT said that UK car production had fallen by a “bitterly disappointing” 3.8% during September, adding to a turbulent year-to-date in which political and economic turmoil, softness in key markets and operational changes have been blamed for a 15.6% slump. Unsurprisingly, the SMMT’s boss, Mike Hawes, warned that the industry was most worried about “the continued threat of a no-deal Brexit”, which is said to have caused “international investment to stall” and cost hundreds of millions of pounds, “money that would have better been spent in meeting the technological challenges facing the global industry”.

Hawes’s comments dovetail with a different announcement from earlier this month, when Tesla’s chief executive, Elon Musk, said that the electric carmaker would be building its first major European factory on the outskirts of Berlin. “Brexit made it too risky to put a Gigafactory in the UK,” the entrepreneur said, to the delight of Remain campaigners. “[Boris] Johnson’s super-hard Brexit plan would see new trade barriers with our European partners,” wrote Lib Dem deputy leader Ed Davey in the Financial Times. “This will drive down already stagnant business investment … We must take seriously Mr Musk’s announcement.”

If he could be persuaded to comment on Tesla, Johnson would surely say the uncertainty will disappear as soon as we Get Brexit Done™. But Musk’s decision still seems like a missed opportunity, as he’s previously expressed an admiration for UK manufacturing – and F1 nous in particular. “We have a lot of respect for the British automotive engineering talent,” the billionaire told the Daily Telegraph in 2016. “Just look at Formula One – it amazes me how much British talent there is in that. We are likely to establish a Tesla engineering group in Britain at some point in the future.”

Read more …

So where will the kids meet now? Online only?

Brick & Mortar Melts Down as Ecommerce Jumps by Most Ever (WS)

Ecommerce sales in the third quarter 2019 spiked 17.3% from a year ago to $145.7 billion, not seasonally adjusted, according to the Commerce Department. On a seasonally adjusted basis, sales hit $154.5 billion. Ecommerce sales will exceed $600 billion in 2019, double the amount five years ago. In dollar terms, ecommerce sales jumped by $20.4 billion in Q3 compared to a year ago, the biggest dollar-jump in the history of ecommerce:

[..] Ecommerce is wiping out department stores one by one. The long-cherished destination for American shoppers is doomed. Sears is just the latest example of a long list of examples. Others will follow. Sales at brick-and-mortar department stores in Q3 fell 5.7% year-over-year to a new multi-decade low of $33.8 billion (seasonally adjusted). They’ve collapsed by 41% from the peak in Q4 2000 and by 20% from the beginning of the data series in 1992. People who still think that this trend is somehow going to turn around are fooling themselves. This is the brick-and-mortar business Macy’s, Nordstrom, and Sears are in:

Read more …

An enormous effort by Eric Zuesse. This is just a small sample. Impossible to choose from all the material.

Ukraine, Trump, & Biden – The Real Story Behind “Ukrainegate” (Zuesse)

Donald Trump has surrounded himself with neoconservatives. There’s not much distance between his policies toward Ukraine versus Barack Obama’s and Joe Biden’s. However, after Trump becomes impeached in the House (if that happens) and the impeachment trial starts in the Republican U.S. Senate, there will then be a perfect opportunity for Trump to embarrass the Democratic Party profoundly by exposing not only Joe Biden but Biden’s boss Obama as having caused the war in Ukraine. In order for him to do that, however, he’d also need to expose the rot of neoconservatism. Nobody in Washington does that, except, perhaps the rebelling Democrat, Tulsi Gabbard, and she’s rejected in the national polls now by the public within her own Party.

Neoconservatism is the uniform foreign-policy ideology of America’s billionaires, both Republican and Democratic, and this is why Washington is virtually 100% neocon. In America, wealth certainly doesn’t trickle down, but ideology apparently does — and that’s not merely neoliberalism but also its international-affairs extension: neoconservatism. Nonetheless, if a Trump re-election ticket were Trump for President, and Gabbard for Vice President, it might be able to beat anything that the Democrats could put up against it, because Trump would then head a ticket which would remain attractive to Republicans and yet draw many independents and even the perhaps 5% of Democrats who like her.

Only Sanders, if he becomes the Democratic nominee (and who is the least-neoconservative member of the U.S. Senate), would attract some of Gabbard’s supporters, but he wouldn’t be getting any money from the 607 people who mainly fund American politics. The 2020 U.S. Presidential contest could just go hog-wild. However, America’s billionaires probably won’t let that happen. Though there are only 607 of therm, they have enormous powers over the Government, far more than do all other Americans put together. The U.S. Supreme Court made it this way, such as by the 1976 Buckley decision, and the 2010 Citizens United decision.

Read more …

“Back in 2016, no one thought that Trump would win the presidency. So why bother hiding it?”

Yes, Ukraine Interference In The 2016 Presidential Election (Levine)

Let’s start with a fact: Meddling in the 2016 election by Ukrainian politicians and government agencies happened. The above is true and no amount of denial is going to change that. What’s more: Ukrainian nationals didn’t just meddle on their own, they also worked with Americans — including Ukrainian-American political operatives on the payroll of the Democratic Party. Not only did all this happen, it was written up as fact by establishment papers and outlets as varied as Yahoo, Politico, and the Financial Times in 2016 on the eve of the election. The involvement of Ukrainian pols and officials in all of this has never been secret. It was acknowledged at the time. The principle actors openly talked and bragged about their exploits in the press. And why not? Back in 2016, no one thought that Trump would win the presidency. So why bother hiding it?

One of the best examples of this is the plot to take down Paul Manafort — the sleazy Republican political consultant who had long worked in Ukraine and who headed Donald’s Trump campaign. In 2016, Serhiy Leshchenko, a Ukrainian member of parliament and an anti-corruption activist (who got embroiled in his own corruption scandal), coordinated the release of a handwritten ledger. The document purported to show off-the-book payments made to Manafort from the Party of the Regions — the political arm of the Viktor Yanukovich, the Ukrainian President who had been overthrown in a coup-type revolt by a much more western-friendly political faction. The ledger itself was released by NABU, a Ukrainian government anti-corruption organization set up as result of prodding by the Obama Administration and which was run with the backing and financial support of the FBI.


(As an aside: NABU — which also got embroiled into its own political corruption scandal — also happens to be at the heart of an internal Ukrainian political fight that sucked in ex-Ambassador Marie Yovanovitch. But that’s a different and complicated story. And then there’s the weird angle of the FBI being so closely involved with NABU at a time when this Ukrainian anti-corruption agency decided to involve itself in an American election.) Anyway, Leshchenko — a foreign politician — made clear that his objective at the time was to kill off Trump’s candidacy. That’s a direct admission of meddling. As Oleksiy Kuzmenko has documented so well, Leshchenko repeated this statement in various ways in both English and Ukrainian over and over again.

Read more …

We’ve known this for a while. The OPCW is a cesspool.

Internal OPCW E-Mail (WikiLeaks)

Wikileaks today publishes an e-mail, sent by a member of an OPCW fact-finding mission to Syria to his superiors, in which he expresses his gravest concern over intentional bias introduced to a redacted version of the report he co-authored. The Organisation for the Prohibition of Chemical Weapons sent a team of experts to investigate allegations that a chemical attack took place in the Syrian city of Douma on the 7th of April 2018. The author of the e-mail was a member of that team and claims the redacted preliminary version of the report, misrepresents the facts he and his colleagues discovered on the ground. The e-mail is dated 22nd of June. It is addressed to Robert Fairweather, Chief of Cabinet, and forwarded to his deputy Aamir Shouket and members of the fact-finding mission to Douma.

He says this misrepresentation was achieved by selective omission, introducing a bias which undermines the credibility of the report. Further it is claimed that crucial facts, that have remained in the redacted version: “…have morphed into something quite different to what was originally drafted.” This is said to have been done at the behest of the Office of the Director General (a post that was held by Turkish diplomat Ahmet Üzümcü at the time, he has since been replaced by Spaniard Fernando Arias). The attack in question was widely attributed to the Syrian Army, based on reports by rebel forces that were present in Douma at the time, and this assertion was backed up by the United States, British and French governments. These three countries carried out air strikes against Syrian government targets in response, on the 14th of April 2018.

This was before the fact-finding team had gained access to the site in Douma, the mission there was delayed for nearly two weeks by entrenched rebel fighters and subsequent clashes between the rebels and government forces that moved into the area. Upon arrival the team found much of the physical evidence, including the bodies of the deceased, was no longer available. It was alleged that 49 had died and up to 650 had been seriously affected by a weaponized chemical gas released in a specific area of rebel-held Douma on that day in April. Rebels claimed the gas came from cylinders dropped from aircraft, clearly implicating Syrian government forces who had complete air superiority.

Read more …

The actual email, part of a long article by Peter Hitchens for the Daily Mail of all places.

New Sexed-Up Dossier Furore: The Leaked Email In Full (DM)

Dear ******,

I wish to express, as a member of the FFM (Fact Finding Mission) team that conducted the investigation into the alleged chemical attack in Douma on 7 April, my gravest concern at the redacted version of the FFM report, which I understand was at the behest of the ODG. (Office of the Director General). After reading this modified report, which incidentally no other team member who deployed into Douma has had the opportunity to do, I was struck by how much it misrepresents the facts. Many of the facts and observations outlined in the full version are inextricably interconnected and, by selectively omitting certain ones, an unintended bias has been introduced into the report, undermining its credibility. In other cases, some crucial facts that have remained in the redacted version have morphed into something quite different to what was initially drafted. If I may, I will outline some specific aspects to the redacted report that are particularly worrisome.

The statement in paragraph 8.3 of the final conclusions ‘The team has sufficient evidence at this time to determine that chlorine, or another reactive chlorine-containing chemical, was likely released from cylinders’, is highly misleading and not supported by the facts. The only evidence available at this moment is that some samples collected at Locations 2 and 4 were in contact with one or more chemicals that contain a reactive chlorine atom. Such chemicals could include molecular chlorine, phosgene, cyanogen chloride, hydrochloric acid, hydrogen chloride or sodium hypochlorite (the major ingredient of household chlorine-based bleach). Purposely singling out chlorine gas as one of the possibilities is disingenuous. It is also worth noting that the term ‘reactive chlorine-containing chemical’ used in the redacted report is, in fact, inaccurate. It actually describes a reactive chemical that contains chlorine which itself (the chlorine) is not necessarily reactive e.g. chlorophenol. The original report uses the more accurate term ‘a chemical containing reactive chlorine’.

Read more …

Pedophilia will do that. Time to get rid of the lot.

How The Firm Lost Its Grip (O.)

Future historians may conclude that Prince Andrew’s defining achievement was to gift the nation a new verb. Following a tumultuous week when his car-crash interview shook the House of Windsor so vigorously it seemed its palaces were in danger of losing their crenellations, the Duke of York now finds himself banished from duties. His fate is the 21st-century equivalent of that which befell the difficult minor royals of previous eras who were locked up in asylums, away from the public gaze. “Prince Andrew has been de-royaled, if there is such a word,” said the historian and biographer Robert Lacey, an adviser to the acclaimed Netflix series The Crown.


Photograph: Chris Jackson/Getty Images

“At the risk of sounding melodramatic, I really would compare it to 1936 and the abdication of Edward VIII. What we are talking about is effectively the removal of a member of the royal family as a result of public opinion.” The duke can take some comfort from the knowledge that if he had been around a few hundred years ago, things could have been worse. “One can even compare it to 1649, when Charles I was executed,” Lacey said. “This is a reminder that what was an institution of absolute power now depends ultimately on the consent and approval of the communities it seeks to represent, and Prince Andrew failed in this respect.”


Princess Diana’s bombshell Panorama confession did huge damage to the royal family. Prince Charles’s decision to admit to adultery via a television interview greatly reduced his standing in the eyes of the public. “Andrew is a bit of a plonker, everybody knows that,” said one source close to the palace. “There’s no way he should have been allowed to do that interview. They should have just sent him off to Australia. That would have been a bloody good idea. Out of sight, out of mind.”

Read more …

They knew about Andrew and kept quiet. Time to get rid of the lot.

Met Faces New Questions Over ‘Trafficked’ Teen In Epstein Case (G.)

The Victims’ Commissioner is demanding that the Metropolitan Police explain its decision not to pursue a full investigation into claims a teenager was trafficked to the UK to have sex with Prince Andrew. The Observer understands that Dame Vera Baird QC, a former solicitor general and chair of the Board of the Association of Police and Crime Commissioners, has taken a close interest in the allegations, first examined by Scotland Yard in 2015. Baird, who has focused on protecting victims of sexual and domestic abuse throughout her career, is currently observing election purdah and cannot speak to the media. However, prior to the election she made her views known to a victims’ rights campaigner, telling him that she would be requesting a meeting with the Met once purdah was over.


“Before the election was called I spoke at length with the Victims’ Commissioner and we both find it extraordinary that this matter was not proceeded with,” Harry Fletcher said. The Met has said that its investigators reviewed all “available evidence” after receiving a complaint relating to claims that were made in court documents. It was alleged that in 2001 a 17-year-old, now known to be Virginia Roberts, was “forced to have sex with Prince Andrew”, purportedly at the London home of socialite Ghislaine Maxwell, the one-time girlfriend of the late disgraced financier Jeffrey Epstein. His victims are now bringing claims for damages against his estate. It is understood that lawyers for Roberts also independently contacted the force in 2016. But the Met chose not to pursue a full investigation.

Read more …

“..the right to suck up to power..”

Pilger Blasts ‘Cruel’ Media Coverage Of Julian Assange (RT)

In a wide-ranging dismantling of mainstream media reporting on Julian Assange, award-winning journalist John Pilger has blasted the Guardian for its coverage of the WikiLeaks founder. Pilger took aim at a Guardian editorial published this week, which made the case for not extraditing the Australian to the US, where he could face 175 years behind bars for possession and dissemination of classified information. The BAFTA award-winning documentary filmmaker has offered his interpretation of what the editorial actually meant “What the Guardian was really saying was this: ‘We are the fourth estate, the bearers of true liberal principles, the guardians of sacred rights. Such as the right to suck up to power. The right to invade countries and the right to smear those who expose our double standards and, if necessary, the right to destroy them,’” he said.


If Julian were to succumb to the cruelty he has endured, week after week, month after month, newspapers like the Guardian would share the responsibility. Pilger is one of the contributors to a new book titled ‘In Defense of Julian Assange,’ and he made the comments at the book’s launch in London on Saturday. Writer and activist Tariq Ali, fashion designer Vivienne Westwood, actress Pamela Anderson, and former diplomat Craig Murray are among the other high-profile names who contributed to the book, which is an essay compilation on the prosecution of Assange and freedom of speech.

Read more …

 

 

 

Please support the Automatic Earth on Paypal and Patreon so we can continue to publish.

Top of the page, left and right sidebars. Thank you.

 

 

 

Nov 172019
 


Pablo Picasso Chair 1942

 

Ex-NSC Official Claims Sondland Said He Was Directed By Trump On Ukraine (CNN)
Prince Andrew Denies Sex With 17 Year Old, Says He Was At Pizza Express (Ind.)
High-Stakes Gamble On TV Interview Over Epstein Backfires On Prince Andrew (G.)
Boeing Pressures FAA To Re-Approve 737 MAX, Staff Beg Not To Fly In It (BI)
Macron Plays Fox in the EU Hen House (Spiegel)
Saudi Aramco IPO Set To Value Company Up To $1.7 Trillion (CNBC)
Iran Gas Price Hike Protests Escalate (RT)
Hong Kong Protesters Hurl PETROL BOMBS, Shoot ARROWS At Police (RT)
Tensions Run High During Yellow Vests Protests (RT)
Bolivia Death Toll Mounts Amid Pro-Evo Morales Protests (BBC)
Chile Agrees To Replace Pinochet Constitution Amid Turbulent Protests (AP)

 

 

The smell that emanates from this is something in the vein of : “How dare a president be involved in foreign policy?” Sure, Sondland is an out of place character, but to label this ‘interference’ is odd. “At the NSC, “we have a way we do things that works,” talking about regular vs irregular foreign policy channels. But the thing is that Trump didn’t trust the regular channels; he thought they’d protect Biden, and keep the focus on Russia Russia.

Is Trump dangerous for asking for a Burisma investigation? Or is he merely a problem for the State Lifers and their backers? Want to check what the Constituion says about foreign policy?

Ex-NSC Official Claims Sondland Said He Was Directed By Trump On Ukraine (CNN)

Gordon Sondland, the American envoy to the European Union, was acting at President Donald Trump’s instruction in his dealings with Ukraine, and Sondland said that the President told him Ukrainian President Volodymyr Zelensky “must announce the opening of the investigations,” according to the closed-door deposition of a former National Security Council official. Former NSC official Tim Morrison testified that he had heard from Sondland that US aid to Ukraine was conditioned on the country announcing an investigation into former Vice President Joe Biden and his son Hunter Biden.

Morrison’s testimony, which was released by House impeachment investigators on Saturday, adds additional corroboration to the testimony of others, like US diplomat Bill Taylor, that Sondland said he was acting at Trump’s direction when he was urging Ukraine to announce political investigations. Morrison’s testimony will only fuel questions about Sondland’s closed-door interview, which has been called into question based on the testimony others have given about his conversations with Trump. Sondland is scheduled to testify publicly before the House Intelligence Committee on Wednesday. House impeachment investigators also released Saturday the transcript of Jennifer Williams, an aide to Vice President Mike Pence, who listened into the July 25 call along with Morrison.

While Morrison did not take specific issue with the content of Trump’s call with Zelensky, both aides described their concerns as they listened to Trump discussing political investigations. Morrison’s testimony also added additional detail explaining how the call ended up on a highly secure server outside of normal channels. Morrison, who is scheduled to testify publicly on Tuesday, described how Sondland was a “problem” as he operated in what previous witness testimony described as irregular foreign policy channels. And he recalled Sondland speaking directly to Trump about the investigations and the military aid. “He related to me he was acting – he was discussing these matters with the President,” Morrison said.

[..] Morrison said Sondland was a concern for his predecessor, former White House Russia expert Fiona Hill, who is also scheduled to testify publicly next week. “She described Ambassador Sondland as a problem,” Morrison said, recounting a conversation they had about Sondland. “We both discussed that Ukraine was not in the EU, which led to the follow-on question of, why is he involved in Ukraine? And, as I mentioned, she mentioned Burisma, which I nearly did not know what that was.” Morrison explained their concern: “It was less about his role in Ukraine and more about how he conducted himself. He did not participate in the process. So we are very process-oriented on the NSC; we have a way we do things that works. And so when people come in and get involved in issues and they’re not of that process, it creates risk.”

Read more …

He can’t for the life of him remember meeting Virginia Giuffre, but he distinctly remembers going for pizza.

Prince Andrew Denies Sex With 17 Year Old, Says He Was At Pizza Express (Ind.)

Prince Andrew has claimed he could not have had sex with a 17-year-old girl on the night he is accused of doing so – because he had taken his daughter to Pizza Express in Woking. Giving an unprecedented television interview to address claims surrounding his friendship with billionaire sex offender Jeffery Epstein, the Duke of York denied having sex with Virginia Giuffre in 2001. [..] “On that particular day, that we now understand is the date which is the 10th of March, I was at home,” the duke said. “I was with the children and I’d taken Beatrice to a Pizza Express in Woking for a party at I suppose, sort of, four or five in the afternoon.

“And then because the duchess [of York] was away, we have a simple rule in the family that when one is away, the other one is there.” When asked why he remembered the specific trip to the restaurant, he replied: “Because going to Pizza Express in Woking is an unusual thing for me to do, a very unusual thing for me to do. “I’ve never been … I’ve only been to Woking a couple of times and I remember it weirdly distinctly. “As soon as somebody reminded me of it, I went: ‘Oh yes, I remember that’.”

[..] The duke went on to question the validity of a photograph with his arm around Ms Giuffre in London – saying it was not possible to prove if the image had, or had not, been faked. He said: ”I don’t believe it’s a picture of me in London because when I would out to… When I go out in London, I wear a suit and a tie. “That’s what I would describe as… those are my travelling clothes if I’m going to go… If I’m going overseas.” He added: ”Nobody can prove whether or not that photograph has been doctored but I don’t recollect that photograph ever being taken.”

Read more …

What a trainwreck of a man. Saw Epstein umpteen times, a man who everybody says was always surrounded by minor girls, but not during all those times Andrew was around, in London, New York, pedo island.

High-Stakes Gamble On TV Interview Over Epstein Backfires On Prince Andrew (G.)

The prince’s answers are likely to ensure he remains in the headlines for the conceivable future, and several commentators have condemned his approach. Catherine Mayer, founder of the Women’s Equality Party, tweeted that the prince was “too stupid to even pretend concern for Epstein’s victims”. Charlie Proctor, editor of the Royal Central website, said: “I expected a train wreck. That was a plane crashing into an oil tanker, causing a tsunami, triggering a nuclear explosion level bad.” It is known that some close to the prince had reservations about how the interview – reportedly the result of six months of negotiations with the royal household – would play out.

Jason Stein, who previously worked for the former work and pensions secretary Amber Rudd, recently quit as an adviser to the prince after less than a month. It is understood he had disagreed with the decision to go ahead with the interview. It is claimed that the prince sought permission from the Queen before giving it, and that she gave her consent early last week. In the interview, the prince said that with “hindsight” his decision to stay at Epstein’s house was “definitely the wrong thing to do”. Giuffre’s lawyers did not respond to requests for comment but her Twitter account retweeted a comment from the former editor of the Northern Echo, Peter Barron, who said: “Astonishing decision by the royal family to go ahead with this Prince Andrew confessional interview in the hope it would draw a line under the scandal. It will have the opposite effect.”

[..] Giuffre’s lawyer, Jack Scarola, told Mail Online the prince should agree to an interview “under oath” instead of giving statements to the media that carry “little weight”. He said: “I believe there is an ongoing investigation in New York by the FBI under the supervision of the US Attorney’s office into those involved in facilitating Jeffrey Epstein’s abuse. “I would love to see Prince Andrew submit to an interview under oath with the investigating authorities. Talking to the media doesn’t quite cut it. Statements that are not under oath carry little weight.”


Prince Andrew: I don’t do public displays of affection

Read more …

Getting antsy: “Asking the FAA to let Boeing deliver newly-manufactured 737 MAXes to clients before it is approved to fly..” Wait, how are you going to deliver them then?

Boeing Pressures FAA To Re-Approve 737 MAX, Staff Beg Not To Fly In It (BI)

Boeing is exerting pressure on the Federal Aviation Administration to speed up the approval of its 737 Max jet to fly again, according to multiple reports, and seemingly confirmed by the agency’s head. At the same time, airline crew and pilots are pushing back against any expedited timescale for the Max’s return, with some begging not to be assigned to the jets even after they return to service. The Max has been grounded for eight months, since the second of two fatal crashes which killed more than 300 people between them. The approval process centers on proposed fixes to an automated flight control system which malfunctioned in the two crashes. It has taken far longer than many in the aviation industry expected.

According to The New York Times and the Reuters news agency, Boeing has pushed the FAA on two fronts in the hope of getting the plane back in the air faster: • Pushing for pilots to test the new software on flight simulators before the FAA has finished vetting it. • Asking the FAA to let Boeing deliver newly-manufactured 737 Maxes to clients before it is approved to fly, to shorten the lag between approval and airlines putting passengers on it. The FAA has resisted, The Times reported. It said engineers pointed out that it does not make sense to ask pilots to test software before it is fully vetted, since it could be changed during that process. Senior figures at the FAA have encouraged staff to take all the time they need to keep assessing the plane, both in public and in private.

Lori Bassani, the head of Association of Professional Flight Attendants, a union representing staff at American, said: “I hear from flight attendants every day, and they’re begging me not to make them go back up in that plane.” She said Boeing needs to share more information with her members about their safety changes before they will be happy to get back on. Her words followed a harsh rebuke from Jon Weaks, the head of the Southwest Airlines Pilots Association, who said Boeing was demonstrating “arrogance, ignorance, and greed” in its push to get the plane flying again.

Read more …

“Russia, he said, is part of Europe and it cannot and should not be ignored..”

Macron Plays Fox in the EU Hen House (Spiegel)

French diplomats in Brussels are open about the fact that differences between Berlin and Paris are growing more frequent. Berlin officials, by contrast, insist that the frontlines now run between Paris and the rest of the EU. That has also been easy to see when it comes to Brexit. In recent months, Macron has repeatedly failed in his demand that Britain not be granted a deferral or, if unavoidable, merely a short delay. Most recently, the French had virtually no allies left on the issue. Macron was similarly isolated at the EU summit in mid-October, when he blocked the beginning of accession negotiations with North Macedonia by making use of his veto. Outgoing Commission President Jean-Claude Juncker referred to it as a “historic mistake” that could endanger the Balkan country’s stability.

Merkel likewise said pointedly that the EU had to “remain reliable.” Insiders say that it only became clear how Macron would vote on the issue just one day before EU heads of state and government gathered for the summit. When Chancellery staff inquire at the Élysée as to why they aren’t always kept informed, they sometimes receive answers that they have thus far only associated with the Trump administration in Washington: Élysée staff, they hear, only has limited influence over the president. In August, Macron initiated a new approach to Russia without consulting at all with his allies. Just a few days ahead of the G-7 summit in Biarritz, a group that Russia was expelled from after the annexation of the Crimea, Macron invited Russian President Vladimir Putin to southern France for talks.

Not speaking with Russia would be a major mistake, Macron said immediately before the consultations. Russia, he said, is part of Europe and it cannot and should not be ignored, adding that he believed in the power of geography and European history. Even then, it was growing clear that Macron was thinking about a new security concept for Europe. For Macron, a strong Europe is one that self-confidently seeks dialogue with the large and mid-sized powers the world over. The more we do to ensure that Russia becomes a power within Europe, Macron said at the time, the better.

Read more …

Some people are suggesting the Saudis badly need the cash.

Saudi Aramco IPO Set To Value Company Up To $1.7 Trillion (CNBC)

Saudi Aramco has set a price range for its listing that implies the oil giant is worth between $1.6 trillion to $1.7 trillion, below the $2 trillion that the Saudi crown prince had previously targeted, making it potentially the world’s biggest IPO. Aramco said on Sunday it plans to sell 1.5% of its shares or about 3 billion shares, at an indicative price range of 30 riyals ($8.00) to 32 riyals, valuing the initial public offering (IPO), as much as 96 billion riyals ($25.60 billion) at the top end of the range. Aramco could just beat the record-breaking $25 billion raised by Chinese e-commerce giant Alibaba when it made its stock market debut in New York in 2014.

Read more …

A sreies of protests articles. The one in Iran ignited fast.

Iran Gas Price Hike Protests Escalate (RT)

The Iranian government’s surprise decision to raise gasoline prices, which caused protests around the country, should be implemented, Iran’s Supreme Leader Ali Khamenei said, blaming the violence amid demonstrations on criminals. The divisive decision, announced this week, has caused protests in several Iranian cities. Khamenei was cited by the Iranian media on Sunday as saying that, while he was no expert in petrol industry, he still believed the government’s decision should be implemented. The Iranian leader also confirmed that there have been deaths related to the protests caused by the hike, blaming them on foreign influence.


“Sabotage and arson is done by hooligans not our people. The counter-revolution and Iran’s enemies have always supported sabotage and breaches of security and continue to do so,” he said as quoted by state TV. The demonstrations that started on Friday have been largely peaceful, but on some occasions the public anger escalated into vandalism and clashes. Iranian authorities confirmed that one person was killed in the southeastern city of Sirjan. There were also reports of protesters vandalizing cars, setting banks on fire and otherwise causing property damage.

Read more …

There’s a shift in emotion going on. Sympathy for the Hong Kong protesters appears to be waning.

Hong Kong Protesters Hurl PETROL BOMBS, Shoot ARROWS At Police (RT)

Demonstrators in Hong Kong attacked common citizens who attempted to free the roads from barricades amid a new round of clashes with police. A fierce street battle erupted outside the Hong Kong Polytechnic University (PolyU) on Sunday, as protesters threw bricks at police, which responded with tear gas and water cannons. The officers were trying to remove the barricades erected by the demonstrators earlier this week, and urged them to stop placing metal spikes on the roads in hopes of piercing the police vehicles’ tires. The protesters earlier attacked a group of citizens who were clearing the roadblocks and debris outside the PolyU. A man and a woman were hospitalized with head injuries in result of the attack.

Similar scuffles occurred near the University of Hong Kong (HKU) and the City University of Hong Kong (CityU), where black-clad, masked rioters threw bricks and petrol bombs at the volunteers, who were removing the makeshift barricades. The residents, many of whom are alumnae of these universities, have answered online calls from pro-government politicians to help clean the streets. Some of them told the South China Morning Post that protesters have gone “too far” when they switched from rioting downtown to seizing campuses and blocking major roads, including the Cross-Harbour Tunnel, which connects the Hong Kong Island with the rest of the city.

Around 50 Chinese army soldiers joined the volunteers to dismantle the barricades near the Hong Kong Baptist University, marking the first time when Beijing’s troops have left their barracks since the start of the protests this summer. The soldiers were unarmed and wore no protective gear.

Read more …

“Celebrating” the 1 year anniversary.

Tensions Run High During Yellow Vests Protests (RT)

Yellow Vest protesters were doused with water during clashes with police and rioting in downtown Paris, ahead of the first anniversary of their nationwide anti-government demonstrations. The Place d’Italie circle in the city’s 13th arrondissement descended into chaos as protesters erected makeshift barricades and threw stones at police officers, which responded with tear gas and water cannon. The protesters overturned several parked cars and set vehicles on fire. A group of Yellow Vests attempted to block a fire truck from getting through to the barricades, which were also set ablaze.


A shopping mall and several bus stops were vandalized when the protesters vented their anger over what they deem as government inaction towards their demands, made throughout a full year of weekly demonstrations. The windows of a bank were smashed during the rioting. The protester groups on social media had earlier called on their colleagues to occupy and block several stores, including the Ikea and Apple stores. Police were also called in to disperse protesters who were blocking traffic along the Boulevard Peripherique, the city’s main ring ‘beltway’ road. The authorities revoked their permit to stage a rally at the Place d’Italie, after the protests turned violent. Police had arrested 61 protesters by 3pm, Prefect of Paris Didier Lallement confirmed, adding that some officers were injured in the clashes.

Read more …

Can they bring Morales back?

Bolivia Death Toll Mounts Amid Pro-Evo Morales Protests (BBC)

The death toll in Bolivia continues to rise after violent clashes between security forces and supporters of former President Evo Morales. On Friday, security forces opened fire on supporters of Mr Morales in Sacaba, killing at least eight people. A doctor in the city told the Associated Press that most of those killed and injured had bullet wounds. The country’s national ombudsman said a total of 19 people had died since the disputed election on 20 October. On Saturday, UN human rights chief Michelle Bachelet warned that violence in Bolivia could “spin out of control”. “Repressive actions by the authorities… are likely to jeopardise any possible avenue for dialogue,” she added. Amid claims of electoral fraud, Mr Morales resigned on 10 November and later fled to Mexico.


On Friday, before the violence in Sacaba, he told the BBC that there were no meaningful charges that could be brought against him. He was responding to interim President Jeanine Áñez, who said he could be prosecuted if he returned to Bolivia. Mr Morales had previously said he was willing to return to Bolivia in order to restore peace. He also told US broadcaster CNN that what happened in Sacaba was “a real massacre”. Ms Áñez, who declared herself interim president on Tuesday, has already broken ties with Venezuela and is sending home more than 700 Cuban medics. The moves are meant to show that the interim government is distancing itself from Mr Morales’s regional left-wing allies.

Read more …

Heavy protests in Chile too.

Chile Agrees To Replace Pinochet Constitution Amid Turbulent Protests (AP)

Chile’s most important political parties agreed Friday to call for a new constitution to replace one imposed by a military dictatorship almost 40 years ago, a move that follows a month of turbulent social protests in the streets. The agreement calls for an April plebiscite asking Chileans who should draft that document: the existing Congress or a new group made up of legislators and specially elected citizens. Holding the plebiscite itself will require a modification of the existing constitution. The agreement follows a month of demonstrations that began with a protest over subway fares and expanded into a mass movement against inequality that has shaken the nation.


At least 25 people have died and thousands injured. It wasn’t immediately clear if the pact would pacify the hundreds of thousands of Chileans who have taken to the streets in recent weeks. “They are hearing what the people have been asking for so long,” said Pedro Alastuey, a 36-year-old physical education teacher who took part in some of the protests. But he added, “Until they give a concrete solution to the demands of the people, it will be very hard to stop this.” [..] A broad swath of the centre and left of Chile’s political spectrum has long demanded scrapping or major overhauls to the 1980 constitution imposed by the dictatorship of Gen. Augusto Pinochet, which overthrew democratically elected Socialist Party President Salvador Allende in 1973.

Read more …

 

 

 

Please support the Automatic Earth on Paypal and Patreon so we can continue to publish.

Top of the page, left and right sidebars. Thank you.

 

 

 

Aug 192019
 


Edouard Vuillard The window 1894

 

Kudlow: ‘There’s No Recession On The Horizon’ (Hill)
White House Offers Reassurances Amid Recession Fears (Hill)
Trump: Purchasing Greenland ‘Strategically’ Interesting (Hill)
Hong Kong Readies For More Mass Protests After Huge, Peaceful Rally (R.)
China State Council Calls For Shenzhen Integration With Hong Kong, Macau (R.)
China Works To Turn Shenzhen Into The New Hong Kong (Nikkei)
‘Operation Yellowhammer’ Documents Reveal Brexit ‘Worst Case Scenario’ (NW)
UK Elderly In Severe Poverty Up Fivefold Since 1986 (G.)
Russia Hoax Coup and Epstein Interlocked – Kevin Shipp (USAW)
Palace In Damage Control Over Video Of Prince Andrew In Epstein Mansion (RT)
Where Did All The Cod Go? Fishing Crisis In The North Sea (G.)

 

 

Larry Kudlow in Dec. 2007: “Despite all the doom and gloom from the economic pessimistas, the resilient U.S. economy continues moving ahead.”

Kudlow: ‘There’s No Recession On The Horizon’ (Hill)

White House economic adviser Larry Kudlow on Sunday sought to allay fears of an economic downturn, saying, “I don’t see a recession at all.” The White House adviser demurred when asked by “Fox News Sunday” guest host Dana Perino whether the Trump administration is considering concrete steps to stave off a potential recession after short-term U.S. Treasury bonds last week fell below yields for longer-term bonds. The development, which can signal a forthcoming recession, sparked the worst single-day losses for stocks of 2019. “The Trump pro-growth program, which I believe has been succeeding, we’re going to stay with that,” Kudlow told Perino.


“There’s no recession on the horizon,” he added. “What’s wrong with a little optimism?” Kudlow echoed the comments in an interview on NBC’s “Meet the Press.” Host Chuck Todd noted, however, that Kudlow made similar remarks in 2007, shortly before the Great Recession began, and wrote, “There’s no recession coming. … The pessimistas were wrong.” “I plead guilty to that,” Kudlow responded on NBC. Fox’s Perino also asked Kudlow about President Trump’s frequent references ahead of the 2018 midterm elections to a 10 percent tax cut for middle-income earners that never materialized. Kudlow responded that the administration is “looking at it” and also touted a proposal by Sen. Rick Scott (R-Fla.) to offset tariffs with additional tax cuts.

Read more …

The Democrats think it’s a viable tactic to scare people on the economy?

White House Offers Reassurances Amid Recession Fears (Hill)

Chief White House trade advisor Peter Navarro echoed the optimism, saying on ABC’s “This Week,” “Before I came to the White House, I spent the better part of 20 years forecasting business cycle and stock market trends and what I can tell you with certainty is that we’re going to have a strong economy through 2020 and beyond.” Navarro made a similar claim Sunday on CBS’ “Face the Nation,” telling host Margaret Brennan, “What I’m seeing when I look at all the macro tea leaves is a very strong Trump economy.” Democratic presidential candidates, meanwhile, sounded the alarm on the economy Sunday morning, pointing to the effects it has had on Americans’ lives. South Bend, Ind., Mayor Pete Buttigieg said on CNN’s “State of the Union” that a recession is “probably” forthcoming.


However, Buttigieg said, the bigger issue was that even in a period of economic expansion, “most Americans can’t get ahead… and the president has made it abundantly clear he doesn’t care.” “[W]e’ve got an economy not working for most Americans,” he added. Buttigieg’s fellow presidential contender, Sen. Kirsten Gillibrand (D-N.Y.) also refuted the rosy outlook Sunday on ABC’s “This Week” following Navarro’s segment. “I don’t think [Navarro’s] world view is reflected in the everyday, kitchen-table issues that families are facing,” Gillibrand said, telling the program that in a meeting with out-of-work Ohio voters, she learned “[t]hey’re worried about their jobs, they’re worried about access to health care… they’re worried about providing for their kids.”

Read more …

Nothing to say? We’ll invent something.

Trump: Purchasing Greenland ‘Strategically’ Interesting (Hill)

President Trump on Sunday said buying Greenland is “strategically” interesting amid reported interest from the administration last week. Speaking to reporters as he left his Bedminster, N.J., golf club, Trump acknowledged that purchasing the landmass owned by Denmark has been discussed. “Denmark essentially owns it. We’re very good allies with Denmark. We protect Denmark like we protect large portions of the world,” he said. Trump added, “Strategically, it’s interesting, and we’d be interested, but we’ll talk to them a little bit. It’s not number one on the burner.”


Trump has reportedly mulled attempting to buy the largest island in the world that is home to more than 50,000 people from Denmark, though no official inquiries have been made yet. Trump compared buying the territory from Denmark to a “large real estate deal.” “A lot of things could be done. It’s hurting Denmark very badly because they’re losing almost $700 million a year carrying it. So they carry it at a great loss. And strategically for the United States, it would be nice. And we’re a big ally of Denmark, and we help Denmark, and we protect Denmark,” he said.

Read more …

Yesterday the press was talking about thousands of protesters. There were 1.7 million.

Hong Kong Readies For More Mass Protests After Huge, Peaceful Rally (R.)

Hong Kong is gearing up for more protests this week after hundreds of thousands of anti-government demonstrators braved heavy rain to rally peacefully on Sunday, marking a change to what have often been violent clashes. Sunday’s turnout of an estimated 1.7 million people, according to the rally’s organizers, showed that the movement still has widespread support despite chaotic scenes last week when protesters occupied the Chinese-ruled city’s airport. Some activists have apologized for events at the airport. The protests began more than 11 weeks ago as opposition to a now-suspended bill that would have allowed suspects to be extradited to mainland China for trial in Communist Party-controlled courts and have since swelled into wider calls for democracy.


[..] The protests have presented one of the biggest challenges for Chinese President Xi Jinping since he came to power in 2012. Further demonstrations are planned in coming weeks, including another strike in districts across the city. Police said on Monday that, while Sunday’s demonstration was mostly peaceful, acts of breaching public peace happened later when some protesters damaged government offices and aimed laser beams at police officers. Protesters spilled out from Victoria Park, the designated rally area on Hong Kong island, on Sunday and streamed onto major thoroughfares toward the city’s financial center, chanting for Beijing-backed leader Carrie Lam to step down.

Read more …

Two stories: Reuters says China wants to integrate Shenzhen with Hong Kong and Macau….

China State Council Calls For Shenzhen Integration With Hong Kong, Macau (R.)

China’s State Council has called for greater development of the southern city of Shenzhen and the integration of its culture and economy with neighboring Hong Kong and Macau. The directive comes as anti-government protests in Hong Kong threaten the status of the Asian financial hub. Hong Kong, one of the world’s busiest ports, is on the verge of its first recession in a decade as violent anti-government protests scare off tourists and bite into retail sales and investment. The State Council 19-point directive, published in state-media outlet People’s Daily, calls for Shenzhen’s “economic strength and development” to rank among the best in the world by 2025, and a “global benchmark” by the middle of the century.


In the 1990s, market-oriented reforms and government support transformed Shenzhen from an ordinary Chinese village to a major hub for China’s manufacturing and technology sectors. The city now houses the global headquarters for Tencent, China’s social media giant, and Huawei, the networking equipment maker that U.S. President Donald Trump effectively barred U.S. companies from supplying. The directive called for the “modernization of social governance” in Shenzhen via the “comprehensive application of big data, cloud computing, artificial intelligence and other technologies.” It called for the integration of the culture and economy of Shenzhen with Hong Kong and Macao via funding for hospitals, joint disaster relief efforts and cultural exchanges, and to further develop the Hong Kong-Macao Greater Bay Area and “enrich the new practice of the ‘one country, two systems’ policy.”

Read more …

…while Nikkei says Beijing wants to create a new Hong Kong on the mainland.

China Works To Turn Shenzhen Into The New Hong Kong (Nikkei)

The Chinese government aims to transform Shenzhen into a global business center, in an apparent gambit to position the southern city as a model of stable prosperity compared with neighboring Hong Kong. Shenzhen will receive business regulations that conform to international standards, as well as more favorable rules to spur investments and acquisitions, according to a document released Sunday by the State Council, China’s cabinet. China looks to draw multinationals worldwide to the tech hub, a move that essentially would rob Hong Kong of its forte as a magnet for investment. The guidelines come as Chinese paramilitary officers train in Shenzhen amid the weeks-old protests in Hong Kong, suggesting that Beijing may apply both economic pressure and armed force to the restive territory.


Shenzhen will serve as a “demonstration area” for Chinese socialism, the document reads. This will include upgraded health-care infrastructure, coupled with a world-class education system that includes job training. The city will accelerate the development of a fifth-generation wireless network. Talent from outside the mainland will find it easier to cross the border and reside in Shenzhen. Shenzhen will turn into “one of the leading cities in the world in terms of economic strength and quality of development” by 2025, the guidelines say. The city will become a “national model of high-quality development” by 2035 and a “top cosmopolis” worldwide by the middle of the 21st century.

Read more …

It was my understanding that it was not a worst case, but a middle one.

‘Operation Yellowhammer’ Documents Reveal Brexit ‘Worst Case Scenario’ (NW)

The United Kingdom could face food, medicine, and fuel shortages when it splits from the European Union on October 31, according to a government report leaked to British newspaper The Sunday Times. The report, entitled “Operation Yellowhammer,” outlines a laundry list of ways life on the British Isles could be disrupted if politicians can’t reach a trade deal with the EU in the next 11 weeks. The yellowhammer is a small bird that is on track for extinction. According to one BBC report, the document was leaked to the press by a former government minister hoping to influence negotiations with the EU. Starting on November 1, trade with Britain’s neighbors could slow to a trickle as Britain’s main route into Europe gets blocked.

“On Day 1 of No Deal, 50%-85% of [trucks] travelling via the short straits may not be ready for French customs,” according to the report, which would cause them to be turned back at the French border. It goes on to add that: “The worst disruption to the short Channel crossings might last 3 months before flow rates rise to about 50%-70%.” Currently, 56 percent of U.K. exports land in Europe. Such a major, prolonged reduction in those numbers could have a catastrophic impact on Britain’s economy. Inversely, the flow of important goods into Britain could also be cut off.


Three quarters of the medicines used in the U.K. come from Europe, according to the report. With no trade or customs agreements in place, imports “could be as low as 40% on Day 1 of No Deal…with significant disruption lasting up to six months.” Perhaps most alarmingly, “Certain types of fresh food supply will decrease. Critical elements of the food supply chain (such as ingredients, chemicals and packaging) may be in short supply.” If that weren’t bad enough, the Yellowhammer report goes on to foretell gas shortages in London and other areas, and the loss of 2,000 jobs at oil refineries that will be forced to close. Rule of law is also under threat, as “job losses are likely to result in protests and direct action with road blockades” and price increases “are likely to lead to the growth of the illegitimate economy.”

Read more …

State pensions are much lower than in for instance Germany, something like 75% lower.

UK Elderly In Severe Poverty Up Fivefold Since 1986 (G.)

The proportion of elderly people living in severe poverty in the UK is five times what it was in 1986, the largest increase among western European countries, according to a new study. The rise, from 0.9% of the elderly population to around 5%, is attributable to Britain’s state pension system and its “low basic payments and means-tested supplements”, says the author of the report, Pension Reforms and Old Age Inequalities in Europe. Professor Bernhard Ebbinghaus, of the University of Oxford, will tell a European Sociological Association conference this week that the UK is one of five countries out of 16 that he has studied where there has been an increase in people aged 65 and over who are living in “severe poverty”, which is defined as having an income of 40% or less of the median average.


“The United Kingdom is a good example of the Beveridge-lite systems that have historically failed to combat old-age poverty,” Ebbinghaus said. “These have rather ungenerous basic pensions with means-tested supplements, and this reproduces relatively high severe poverty rates among the elderly. British basic pensions are particularly low, 16% of average earnings, and require a long contribution period. Income-tested or means-tested targeted benefits are needed to supplement basic pensions and to lift them out of severe poverty – every sixth British pensioner receives such additional benefits.”

Read more …

Greg Hunter has videos of the interview. Click the link.

Russia Hoax Coup and Epstein Interlocked – Kevin Shipp (USAW)

Former CIA Officer and whistleblower Kevin Shipp says the Russian hoax and attempted coup of President Trump and the sex trafficking case against Jeffery Epstein are linked together by the same Deep State players. Shipp explains, “The FBI has completely raided his vault, and they have some pretty damning material. I don’t know why it took so long, but they have raided Epstein’s island . . . So, there is a lot of damning information the FBI has now on certain people. At the top of the list, and the one who flew the most, was Bill Clinton. Then he lied about it. They are intertwined in that regard and with the Clinton Foundation that we know is a fraud. It is known around the world, and you’ve got these two intersections with Bill and Hillary Clinton.

Of course, Hillary Clinton is tied to the dossier in an attempt to get rid of Donald Trump. So, these webs interlocked with each other, and these people interlock with each other. Welcome to the global elite. Welcome to human trafficking. These things are connected, and with Epstein dead, there are a lot of prominent people breathing a sigh of relief—for now. Is Barr aggressive enough? He says he is going to pursue this case anyway. Is he going to call in the people seen on the CD’s, videos and photographs? That remains to be seen.”

On Epstein’s officially ruled suicide while in prison, Shipp says, “Epstein tries to commit ‘suicide,’ and his cellmate, a four-time convicted murderer, said he didn’t see (or hear) it because he had his headphones on. Attorney General William Barr was in charge of the safety of Jeffery Epstein. There should have been an entire contingent of U.S. Marshals to protect this huge witness, but there were none. Why is that? . . . . It is just unbelievable how they left this huge witness to die in prison. The prison guards were off, as we know. The cameras were not functioning. He was taken off of suicide watch and on and on we go.


There are so many things that add up to this not being a suicide that it is remarkable. . . . We are all still hoping that Attorney General Barr will do his job and people are charged, but this is starting to bother me a little bit. A major witness that was connected to high level people in government and finance was left alone to die in prison, and I think he was murdered. This was all left to happen by William Barr. The pieces to this just don’t add up. . . .We’ve got so many strange things going on here that do not add up, and Attorney General Barr is ultimately responsible for this happening.”

Read more …

The original bumbling fool. Epstein kept him around for shady reasons.

Palace In Damage Control Over Video Of Prince Andrew In Epstein Mansion (RT)

A video showing the Duke of York waving off a young woman from inside financier Jeffery Epstein’s New York mansion has reignited speculation online, sending Buckingham Palace into full-on damage-control mode. A short, blurry video released by the Mail on Sunday shows a man, who the tabloid newspaper identifies as Prince Andrew, the second son of Queen Elizabeth, saying goodbye to a young, dark-haired woman at the doorstep of Epstein’s New York mansion – a notorious sex lair where the financier used to prey on young girls. After exchanging courtesies with the brunette, the prince gives her a nod, and then takes a quick look around the door as if to make sure that no paparazzi were in sight.


Moments before Prince Andrew appears in the doorway, Epstein himself can be seen leaving the house accompanied by a blonde girl. The video dates back to December 2010, two years after Epstein was convicted of soliciting a minor for prostitution and was sentenced to 18 months in an open-door prison after striking a sweetheart plea deal. But Buckingham Palace claims the prince was unaware of any wrongdoing going on at the mansion, saying he “has been appalled by the recent reports of Jeffrey Epstein’s alleged crimes.”

Read more …

I see jellyfish and chips in your future.

Where Did All The Cod Go? Fishing Crisis In The North Sea (G.)

By 7.30am all the cod at Peterhead fish market had been sold, snapped up by competing buyers wearing thick fleeces, woolly hats and rubber boots against the chill of the vast indoor warehouse. A gaggle of middle-aged men clutching books of brightly coloured “tallies” followed the auctioneer alongside crates of glassy-eyed fish nestling in ice. With a curt nod or a swift hand gesture, the price was settled, tallies thrown down to indicate the fish’s new owner, and the group moved on. It took less than 10 minutes to dispose of the night’s catch. Most of the fish would be heading south, to England or mainland Europe. The Scots are not big cod eaters, preferring haddock with their chips. This dates, apparently, from pre-refrigeration days: haddock is a fish best eaten really fresh, whereas cod is tastiest a couple of days after being caught.


The Peterhead buyers were cagey about naming their customers, but the fish they purchased was destined for supermarkets, fishmongers, restaurants, and a few of the classic takeaway chippies that are a national institution. But all this could now be under threat: a report published last month by the International Council for the Exploration of the Sea (Ices) revealed that North Sea cod stocks had fallen to critical levels. Warning that cod was being harvested unsustainably, it recommended a 63% cut in the catch – and that’s on top of a 47% reduction last year. Independent auditors are reviewing the Ices report, and by late September they will announce whether the fisheries can retain their Marine Stewardship Council (MSC) certificates of sustainability – issued only two years ago – or whether those certificates will be suspended. Depending on the decision, North Sea cod could soon be off the menu.

Read more …

 

 

 

 

 

Jul 192019
 


Gustave Moreau Helen on the Walls of Troy 1885

 

First of all, I dearly wish I never had to read or write about Jeffrey Epstein again. But I can’t. And going over the reports about him, and watching the videos below (I’m sure there’s a thousand more), I started thinking I don’t see how he can have much longer to live. (Note as always that if you receive this through email, the videos may not show properly. If someone can explain why, and what to do about that, I’m game. Meanwhile, please go to the TAE site.)

There are three main threats to Jeffrey Epstein’s life (or four, if you include his victims). No. 1 is his fellow inmates in the Manhattan MCC. He’ll be in very strict isolation, because inmates and pedophilia is a very explosive combination. So isolation, but that’s never 100%.

And Judge Berman yesterday ordered him in jail until his trial(s), instead of in his $77 million Manhattan mansion not far from that same prison, so he’ll be there a while; that trial could take a very long time to happen, even years. All the more chance for an inmate to make an easy $1000 by offing him.

The no. 2 threat is Epstein himself. Berman’s decision means he’s very unlikely to ever get out again. Chances of him being declared innocent are as close to zero as as anything Kelvin. So why would he want to continue to live? Perhaps his lawyers try and tell him he’s always got a shot, and there’s always a next court date, but he doesn’t strike me as fully delusional.

I could be wrong, sure, about much of all this, but I don’t think so. The no. 3 threat is, obviously, the people he might “sing” about. And that’s an litany of the world’s who’s who. No doubt the FBI may already have their IDs and photos and what-not, but why chance it when you can take down the -potential- crown witness?

Now, if we may believe just 10% of what George Webb talks about in the last video in this article, everybody who’s anybody in government, secret services et al in the whole wide world should feel threatened right now. But those 2,000 pages from 2015 that Judge Berman ordered to be unsealed are not yet public, and you can bet your donkey that the cream of the global lawyer and secret service crop are going over them as you read this.

Will we ever know what Epstein really did? The odds are not in favor of that. But let’s try and have a look anyway. See if we can -to an extent- make up our minds based on that.

 

First up, an interview with Virginia Roberts Giuffre, one of Epstein’s main accusers. And Ghislaine Maxwell’s, don’t let’s forget that. She’s still walking around free, amazingly.

This is a Miami Herald video linked to Julie K. Brown’s series for the Miami Herald last fall on Epstein. It was posted to YouTube by the Miami Herald on Nov 30, 2018. It took another 8 months for him to be arrested. The 2,000 pages “supposed” to be unsealed soon stem from a case Roberts Giuffre brought in 2015.

 

 

Fast forward to the present, this is from RT on July 18, tackling the fact that Judge Berman refused to let Epstein out on bail. It’s not all the greatest stuff, but you DO get the feeling.

 

 

This I found interesting, Fox, also from July 18, because it targets Prince Andrew. Is MI6 going to be able to muffle away the obviously very strong and long-term connection between Epstein and Andrew? I’m thinking they’d probably have to get those 2,000 pages re-sealed. Or, you know, burned down. Nuked.

 

 

And then there’s George Webb. Now he is, I understand, someone who’s known as a conspiracy theorist, but then many people are in some circles, including myself, This video was posted on July 8 2019, 2 days after Epstein’s arrest. My thought while watching this is he may be wrong on some things, he may even be making a few points up, but when you’re that detailed on events that occurred over such a long time, you’re either on very powerful drugs or you’re not entirely wrong. Check for yourself.

 

 

To summarize my thoughts on this, and the reason I started writing this, I can’t see Epstein living much longer. There are too many people who would rather see him dead, including perhaps himself. And there are very few people who want him to get into lengthy talks with prosecutors who are actually looking for the truth.

Now of course we must wonder if any prosecutor wants that truth. Alex Acosta left his US government job because “Epstein is intelligence” was not enough to let him keep his job. And if we can believe some of the stories about the CIA, the State Dept and Mossad being linked to Epstein (and we got worse than that), it looks like he’s just got to go. Unless someone, or some party involved, has a reason to protect him against all odds. If only to handicap some other people.

After this piece I really hope I never have to write about this topic again. My hopes of that are not overly high, but I do have to say I have a very hard time thinking about child -sex- abuse. I also think we must think much harder about why it is that we pick predators to lead our societies. Because this hardly ever fails, doesn’t it? A bunch of sexual deviants rise to the top everywhere.

Sexual predation appears to be some inevitable part of political power. Not everywhere and not all the time, but far too much for comfort.

Let’s hope enough of those predators are exposed through the Jeffrey Epstein case. But, you know, listening to George Webb, you think of the oil sheikhs and the girls being trafficked by Epstein and others, from the Balkans and dirt poor African countries, and you ask yourself, what are the odds of full exposure?