Sep 202020
 


Robert Capa Capucine, French model and actress, in her hotel room, Rome 1951

 

Ginsburg Death Opens Complex Partisan Chessboard (JTN)
Picking RBG’s Successor: The Who, The When, & The Hypocrisy (ZH)
Trump Says Supreme Court Pick Will ‘Most Likely’ Be A Woman (JTN)
Tulsi Gabbard Introduces Bipartisan Bill To Deter Mail-in Ballot Fraud (RT)
Bringing a Bazooka to a Knife Fight (Kunstler)
COVID May Have Already Peaked In Many African Countries (G.)
Masks Help Bring Down COVID19 Cases: Governors, State Health Officials (NBC)
Governments Will Impose New Lockdowns If They Can Get Away With It (McKaken)
How The Stock Market Got To Be So Out Of Touch With Reality (Stockman)
Glenn Greenwald On Why Mainstream Media Is Ignoring Assange Trial (ZH)
Stephen F. Cohen, Leading American Russia Expert, Dies At 81 (RT)
Trump as New Cold War Heretic (Stephen F. Cohen)

 

 

Holland is the first place I’ve seen that anounces fast testing. Second was France?!. In November… They have their experts look at 5 different options. Better late than never, but I do wonder if they do it only because their PCR testing is so screwed up. And still I doubt they will allow people to fast-test themselves at home. Which they should.

 

 

 

 

 

 

 

 

Assange Clinton ISIS

 

 

If Trump nominates a black woman, wouldn’t that seal the deal right there and then?

You watch and read through all the statements everyone’s making, and you know they can all easily convince themselves the other side is 100% wrong.

Ginsburg Death Opens Complex Partisan Chessboard (JTN)

The death of Supreme Court Justice Ruth Bader Ginsburg opens a complex partisan chessboard, with competing political calculations affecting the timeline of decision points by President Trump and Senate Majority Leader Mitch McConnell (R-Ky.). A key decision is whether Trump and McConnell should push to get a nominee approved by the Senate prior to the Nov. 3 presidential election, a move that could serve as a polarizing catalyst to motivate both Democratic and Republican party bases. Polls show Trump has long maintained a strong edge over rival candidate Joe Biden in party enthusiasm, with thousands of Trump supporters lining up to attend lively rallies at airports, while Biden gatherings are far smaller and more subdued.

Another compelling possibility is whether balloting delays and disputes due to COVID-19 could result in an unclear presidential victor, kicking the outcome to the Supreme Court, just as in the nail-biter 2000 high court ruling in favor of Republican George W. Bush. “You had to know 2020 was going to end with an election that could be decided by a Supreme Court capable of a split 4-4 decision,” Catholic University professor C.C. Pecknold said on Twitter Friday night. The possibility of the Supreme Court stepping in to decide the election creates an added sense of urgency for Trump and McConnell to seat the nominee as quickly as possible. “She was an amazing woman,” President Trump said Friday night after learning about Ginsburg’s death just moments after stepping off the stage at a campaign event in Minnesota.


“Whether you agreed or not, she was an amazing woman who led an amazing life. I’m saddened to hear that.” President Trump on Wednesday announced an updated list of Supreme Court nominees ahead of the 2020 election, adding nearly two dozen more possible justices to his list from 2016. Amy Coney Barrett, a U.S. Circuit Judge for the Seventh Circuit Court of Appeals, is considered a leading candidate to replace Ginsburg. Axios political journalist Jonathan Swan noted that he reported in 2019 that during his deliberations over the Kennedy vacancy, Trump told confidants he was “saving her [Coney Barrett] for Ginsburg.”

Obama SCOTUS

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“A total of 61 SCOTUS justices have been nominated and confirmed to the Supreme Court since the turn of the last century (1900) 70% of these (43 Justices) were confirmed in *under 46 days*..”

Picking RBG’s Successor: The Who, The When, & The Hypocrisy (ZH)

The political battles over who will succeed Ruth Bader Ginsburg as Supreme Court Justice have already begun with some demanding delays, some pushing urgency, others urging more radicalism, and all of this being super-amplified by every mainstream and social media feed, happy to use any old piece of fake news to make their point ever louder, and fearmonger the consequences of “the other side” getting to make their choice. First things first is the Hypocrisy – Obama/Biden Can’t Make Up Their Minds. Former president Obama has called for a delay in the decision until after the election (which presumably he believes Harris – and Biden – will win). All of which is very awkward since it’s 100% the opposite of what he himself said in 2016…

“”When there is a vacancy on the SCOTUS, the President is to nominate someone, the Senate is to consider that nomination… There’s no unwritten law that says that it can only be done on off-years. That’s not in the Constitution text.” Obama in 2016: “I’m going to do my job. I’m going to nominate somebody… It’s not as if the Senate calendar is so full that we do not have time to get this done.” JoeBiden in 2016: “I would go forward with a confirmation process as chairman, even a few months before a presidential election, if the nominee were chosen with the advice, and not merely the consent, of the Senate, just as the Constitution requires.” So, Obama calls for a delay (in 2020); Biden says that would be unconstitutional (in 2016)! And President Trump agrees with Biden:

“We were put in this position of power and importance to make decisions for the people who so proudly elected us, the most important of which has long been considered to be the selection of United States Supreme Court Justices. We have this obligation, without delay!” [..] Second, there is the When – Rush Job… or Business As Usual? The mainstream media is already claiming that any nomination process would be a rush now… “The Senate would need to move faster than usual to confirm a nominee before the election 45 days from now. The average time from nomination to Senate vote – after vetting and hearings – is 69.6 days, or about 2.3 months, according to a 2018 report from the Congressional Research Service.”

However, there appears to be something wrong with their math as Undercover Huber (@JohnWHuber) detailed in a tweet-thread: “A total of 61 SCOTUS justices have been nominated and confirmed to the Supreme Court since the turn of the last century (1900) 70% of these (43 Justices) were confirmed in *under 46 days* (the amount of time remaining until the Nov 3 Presidential election)”

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But Amy Coney Barrett ain’t black!

Trump Says Supreme Court Pick Will ‘Most Likely’ Be A Woman (JTN)

President Trump indicated Saturday that he likely select a female nominee to fill the Supreme Court seat left vacant by the death of Justice Ruth Ginsburg. “I could see most likely it would be a woman,” he told reporters at the White House on Saturday. The president earlier in the day made clear his intention to get a Supreme Court nominee confirmed to the high court to replace Ginsburg, arguing he and fellow Republicans “have this obligation, without delay!” Ginsburg died Friday from complications from cancer. She was 87. Her death immediately created a high-stakes partisan standoff about whether Trump should get to replace Ginsburg, with just 45 days before Election Day, or allow the winner of his presidential race with Democrat Joe Biden to nominate a replacement. Biden himself has pledged to nominate a black woman to the court during his term.


“We were put in this position of power and importance to make decisions for the people who so proudly elected us, the most important of which has long been considered to be the selection of United States Supreme Court Justices. We have this obligation, without delay!” Trump tweeted Saturday morning. Republicans now control the Senate, in which a nominee is confirmed. However, the GOP is in jeopardy of losing its Senate majority with several races considered a tossup. The GOP has 53 member in the Senate and Democrats have 47 including including two independents.

AOC Ginsburg

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They’re going to throw her out.

Tulsi Gabbard Introduces Bipartisan Bill To Deter Mail-in Ballot Fraud (RT)

Former Democratic presidential candidate Tulsi Gabbard, branded a “Russian asset” by Hillary Clinton for her anti-war views, is again refusing to blindly follow her party’s talking points – this time over fears of election fraud. “Whether in the midst of a pandemic, as we are now, where mail-in voting is likely to drastically increase, or even in a normal election, no one should get in between a voter and the ballot box,” the Hawaii congresswoman said Friday on Twitter. Gabbard joined Thursday with Illinois Republican Congressman Rodney Davis to introduce a bill that would block federal funding to states that allow ballot harvesting – letting paid activists canvass neighborhoods to gather mail-ballots and turn them in on behalf of voters. There have been documented abuses with ballot harvesting, including a North Carolina case that led to an election being nullified and redone.

But Gabbard is running afoul of the Democratic Party’s position on election fraud. The Democrat-controlled House has blocked all efforts to ban ballot harvesting, while party leaders and their mainstream media allies have argued repeatedly that major voter fraud is a myth and that President Donald Trump’s attacks on the susceptibility of mail-in voting to foul play are unfounded. Gabbard directly contradicted that message in her tweet, saying ballot harvesting is “ripe for fraud and poses a serious threat to the integrity of our elections.” She added that abuse “is something we’ve actually seen happen in recent elections.” The stakes are high since a huge increase in absentee and mail-in voting is expected to occur this year due to the Covid-19 pandemic.


Gabbard has a history of offending Democrats with unauthorized positions, such as when she embarrassed a party favorite, Senator Kamala Harris, in a presidential primary debate last year, by reminding voters of her record as prosecutor. Last December, the congresswoman voted ‘present’ on both articles of impeachment against Trump. She was out of step again earlier this month, joining conservatives in blasting Netflix for streaming the controversial movie ‘Cuties’, which she called “child porn.” That indiscretion led to her being smeared as a QAnon conspiracy theorist by activist Melissa Ryan. And as in the case of Gabbard’s attack on Netflix, she’s again winning praise from Republicans, this time for her position on ballot harvesting. Conservative author Helena Morrissey called Gabbard “a talented and nuanced politician stopped in her tracks because she doesn’t follow the narrative.” Commentator Blaire White said Gabbard was “the only Dem candidate that mattered.”

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“..that is, if it is actually racist as its leadership claims it to be…”

Bringing a Bazooka to a Knife Fight (Kunstler)

You heard it here first: Joe Biden will call in “sick” to the presidential candidates’ debate on Tuesday, September 29, and within days the Democratic Party will be obliged to replace him. Enough said for now. Wait for it…. Onto the election issue du jour: putting out ideological fires set by political arsonists: namely, the “systemic racism” hustle cooked up by “progressive” anarcho-terrorists to provoke hatred and division in a nation sore beset by propaganda, psy-ops, and seditious subterfuge — not to mention Covid-19 and economic collapse, as if those were not enough. This week, President Trump released an executive order halting all federal agency in-service training programs purporting to address “critical race theory,” “white privilege,” “unconscious bias,” and other hobgoblins of Wokesterism, a scam that has become a multimillion-dollar consulting racket funded by taxpayers.

Russell Vought, director of the Office of Management and Budget, sent a memo to executive branch agency heads directing them to identify all contracts or other agency spending related to any “propaganda effort that teaches or suggests either (1) that the United States is an inherently racist or evil country or (2) that any race or ethnicity is inherently racist or evil.” When the National Center for Disease Control and Prevention (CDC) attempted to defy the order and go forward with training to “examine the mechanisms of “systemic racism, white supremacist ideology, and systems of structured inequality,” Mr. Vought had to remind the agency to cancel it. So it goes with “the Resistance.”

One consulting outfit, CAST (the Coalition to Abolish Slavery and Trafficking) has received $16-million from the Department of Education. At its August 2020 conference, attendees (including DOE staff) were told the United States has a “racial contract” that “says it’s okay for white people to kill blacks with immunity [sic]” (Did they mean impunity?). They also advocated abolishing prisons. The DOE press secretary says it’s investigating. God knows what kind of swamp creatures lie embedded in the lower mudbanks of that agency, but at the top, at least, the department is cleaning up its act. DOE Secretary Betsy DeVos took aggressive action days ago after Princeton University President Christopher Eisgruber sent out an open letter to “the Princeton community” stating that “racism and the damage it does to people of color persist at Princeton” and that “racist assumptions” are “embedded in structures of the University itself.”

Okay, it being the case that Princeton officially claims to be a “racist” institution, the DOE has opened an investigation into Title VI violations under US Civil Rights law so as to recover the $75-million in federal funding Princeton has received since Mr. Eisgruber became president of the institution in 2013. Seems fair, dontcha think? The DOE has required Princeton to produce electronic records of every conceivable type — memoranda, emails, calendars, text messages, telephone logs, you name it — in order to determine whether Princeton has made false representation of its compliance with civil rights law — that is, if it is actually racist as its leadership claims it to be.

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More mystery.

COVID May Have Already Peaked In Many African Countries (G.)

The coronavirus pandemic has peaked earlier than expected in many African countries, confounding early predictions, experts have told MPs. Scientists do not yet know why, but one hypothesis is the possibility of people having pre-existing immunity to Covid-19, caused by exposure to other infections. Prof Francesco Checchi, a specialist in epidemiology at the London School of Hygiene and Tropical Medicine, told MPs it was “broadly” true that coronavirus had not behaved in expected ways in African countries, including Kenya, Tanzania, Sudan and Somalia. “We are certainly observing a pattern that confounds us a little,” he told the UK’s international development committee’s inquiry into the impact of Covid on humanitarian crises. “In a few important case studies – Kenya, for example – what seems to be happening is the epidemic may be peaking earlier than our naive models predicted.”

He said a similar pattern has emerged in Yemen, which is in the middle of the worst humanitarian crisis in the world. “Yemen is one of the few countries where to my knowledge there is almost no prevention of Covid transmission,” Checchi said. “The anecdotal reports we’re getting inside Yemen are pretty consistent that the epidemic has, quote unquote, passed. “There was a peak in May, June across Yemen, where hospitalisation facilities were being overwhelmed. That is no longer the case.” It was possible that the population had accrued some sort of “herd immunity” at least temporarily, he said. While that was “very good news”, Checchi said he was unable to say whether it had been less lethal or less severe on a per capita basis. In many developing countries, where testing is poor and deaths are not notified to the authorities, the rate of reported deaths is very low.

A study published on Tuesday from Imperial College London estimated that in Damascus, Syria, reported deaths from coronavirus were as low as 1.25% of the true figure. Checchi and his team are examining satellite images of graveyards in Aden, in the south of Yemen, and early results point to “considerable mortality with a peak in May in that city”. He said there could be up to a million cases in Yemen, based on one data modelling run. He and colleagues are now looking at explanations for the earlier than predicted peak in some low-income countries. “These range from the effect of age, to some sort of role for pre-existing immunity to pre-exposure to other infections, to other hypotheses. It isn’t a simple analysis.”

On Tuesday, a special envoy to the World Health Organization warned that the world was still at the “beginning” of the pandemic. Prof Azra Ghani, an epidemiologist at Imperial College London, told MPs: “We know deaths are being underreported. We are starting to look at other sources of data, for instance media reports of funerals, to try to get a better handle on it.” The percentage of reported deaths varies from country to country, she said, and determining how the epidemic behaves was vital to answer questions about how countries can recover. “If infections have swept through and if there is a degree of immunity, then it would be possible for those economies to open up a little, but more safely, than if populations were quite naive to infections.”

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Don’t know if it’s shoddy reporting or shoddy regulations, but “mask orders” or “mask mandates” are not terms anyone should use. After 9 months, it’s all turned into oppression.

Masks Help Bring Down COVID19 Cases: Governors, State Health Officials (NBC)

There are still many Americans who resist, protest against and rant about wearing face masks. But state and county health officials across the country say the stark drop in Covid-19 case counts in their communities before and after mask orders were imposed clearly show how effective they can be in reducing the spread of the coronavirus. In Alabama, Gov. Kay Ivey announced a statewide mandatory mask order on July 16. Since then, the state saw a significant drop in daily Covid-19 cases, with numbers peaking above 2,000 toward the end of July and hovering over a 1,000 a month later. And now, cases have plummeted to 574 a day.

“The mask absolutely played a very important role and we really have had no other significant limitations or interventions other than the mask,” Dr. Scott Harris, state health officer at the Alabama Department of Public Health, told NBC News this week. Indiana currently has one of the lowest coronavirus transmission rates in the U.S., a significant result of the statewide mask orders, Gov. Eric Holcomb said Wednesday. “I don’t want that lost on anyone that what we’re doing is working,” Holcomb said during a briefing. “Masks work. Physical distancing works. And the number don’t lie.” With no federal mandate, 34 governors have ordered statewide mask mandates. Others have left the decision to county officials.


This week, Iowa Gov. Kim Reynolds described wearing a mask a “feel-good” act. But Dr. Robert Redfield, the director of the Centers for Disease Control and Prevention, called them “the most powerful public health tool” against the coronavirus. “I might even go so far as to say that this face mask is more guaranteed to protect me against Covid than when I take a Covid vaccine,” Redfield said at a Senate hearing Wednesday. South Carolina has no statewide mask requirements, leaving 11 jurisdictions with mask mandates and 61 without. The South Carolina Department of Health and Environmental Control’s latest findings, from mid-August, report that communities with mask mandates saw a drop of 34 cases per 100,000 people for the four weeks after the requirements were implemented, compared to before the orders took effect. In the same period, jurisdictions without mask requirements saw a rise of 24 cases per 100,000 people.

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Governments and “Experts” have run out of options. Because rapid testing, HCQ, zinq, vitamin D and N95 masks were all ignored. But they won’t “get away with it”, those days are gone.

Governments Will Impose New Lockdowns If They Can Get Away With It (McKaken)

Although they’re slowly backing off on full lockdowns for now, governments have been very careful to maintain that they retain the power to reimpose them—including full-on strict and ruthless lockdown—at any time. In some areas, this has already been done, such as in southern Australia and in New Zealand. In the state of Victoria in Australia, for instance, residents in recent weeks have been subject to strict curfews and even road closures preventing them from traveling more than a few miles form their homes. Those who dissent—such as a pregnant mother who was arrested for merely discussing an upcoming protest—are brutalized. Meanwhile, military personnel enforce martial law, dragging people from their cars and demanding they show their “papers.”

China continues to impose regional and partial lockdowns. Belgium, meanwhile, insists it may yet still impose “total lockdown.” Back in July, the UK’s Boris Johnson told the nation’s residents to follow the social distancing rules now or face harsher lockdowns in the future. Last week Johnson’s government announced strict new social distancing rules, prohibiting any gatherings of more than six people in most cases. Nor have American politicians abandoned these newfound powers. In Utah, which did not impose a lockdown in March or April, the authorities are still threatening a possible future “complete shutdown.” Governors in states including Texas, Pennsylvania, Illinois, New York, and Michigan have all threatened new lockdowns if the residents don’t do as they’re told.

(Only two governors, to my knowledge, have said they will not impose future lockdowns. Earlier this month, Governor Ron DeSantis of Florida vowed “we will never do any of these lockdowns again,” and Governor Kristi Noem of South Dakota, which has never imposed a lockdown at all, has also said lockdowns are not on the table.) In many cases politicians have substituted face masks and targeted lockdowns (of bars and nightclubs, etc.) in lieu of full stay-at-home orders. This limits public dissent by limiting the number of businesses and industries where people are thrown out of work and business owners are effectively robbed of their property. Fewer destitute or jobless voters likely translates into less active dissent.

This permanent embrace of emergency power is to be expected. Governments have long used crises as an excuse to expand government power, often with the glowing approval of the electorate. After the end of World War II, for example, the party platform of the British Labour Party explicitly sought to extend wartime economic planning indefinitely. The idea was that central planning had won the war and now it would “win the peace.” This meant a host of boards and commissions that would control everything from farming to housing. But that’s just one example. As Robert Higgs has shown in his book Crisis and Leviathan, using wars and other crises to permanently expand state power is just standard operating procedure for countless regimes. It’s what governments do.

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Fed.

How The Stock Market Got To Be So Out Of Touch With Reality (Stockman)

Both ends of the Acela Corridor have lost their marbles. This year, Uncle Sam borrowed $4 trillion in six months, the Fed printed $3 trillion in three months, and Wall Street drove the S&P 500 to 52X reported LTM earnings in the context of a deeper economic plunge than occurred in the worst quarter of the 1930s. Therefore, Washington has become disconnected from any semblance of fidelity to sound money and fiscal rectitude, while Wall Street has turned into an outright casino, valuing stocks based on endless Fed liquidity injections and the delusion that momentum chasing is an investment strategy. With respect to the rampant folly in the Imperial City, Treasury Secretary Stevie Mnuchin has always reminded us of Alfred E. Neuman of “Me Worry?” fame at Mad Magazine.

Recently, he more than earned that moniker when, in the context of the current monetary and fiscal lunacy, he proclaimed that, “Now is not the time to worry about shrinking the deficit or shrinking the Fed balance sheet.” That was the so-called Conservative Party speaking, and it is a shrill reminder that the Trumpified GOP has gone utterly AWOL when it comes to its true job in American democracy, namely, resisting the Government Party (Dems) and its affinity for feeding the Leviathan on the Potomac. That is to say, according to even the Keynesian deficit apologists at the CBO, Uncle Sam will spend $6.6 trillion during the current fiscal year (FY 2020) while collecting only $3.3 trillion in revenue. That’s Banana Republic stuff—borrowing 50% of every dollar spent.


Yet the advisory ranks of the potentially incoming Kamala Harris regency are even worse. They are loaded with “deficits don’t matter” ideologues and MMT crackpots who noisily argue that massive monetization of the public debt is not just a virtue, but utterly imperative. Needless to say, this bipartisan commitment to all-in stimulus is financial catnip to the Wall Street gamblers because they are actually capitalizing into today’s nosebleed stock prices, not the present drastically impaired economy on Main Street but a pro forma simulacrum of future prosperity based on the delusional presumption that massive debt and money-pumping actually create economic growth and wealth.

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Both left and right saw themselves exposed by Assange.

Glenn Greenwald On Why Mainstream Media Is Ignoring Assange Trial (ZH)

Well-known journalist Glenn Greenwald has once again sparked intense debate on the Left by refusing to conform to any level of group-think. On Friday he mused about the ongoing Julian Assange extradition trial in London, offering an explanation as to why mainstream US media has seemingly dropped Assange from its radar, despite during the early years of the most bombshell WikiLeaks revelations working closely with Assange in terms of corroborating coverage.

Greenwald started with a tweet acknowledging that Assange’s plight, which includes the possibility of being extradited to the United States where he faces certain life in prison, has received “little media attention” ultimately because it doesn’t have an easy partisan angle. “But another is that many liberals believe their political adversaries deserve to be in prison,” Greenwald stated, going on the offensive. And that’s where the most famous founding journalist at The Intercept began going off on liberals’ exaggeration of what Trump represents and how he came to power: “If you start from the premise that Trump is a fascist dictator who has brought Nazi tyranny to the US, then it isn’t that irrational to believe that anyone who helped empower Trump (which is how they see Assange) deserves to be imprisoned, hence the lack of concern about it,” Greenwald said.


Earlier this month President Trump shocked many national security state insiders by suggesting be might be open to pardoning Edward Snowden. While the Assange case would no doubt be a much higher hurdle for Trump in terms of the ‘deep state’ fierce pushback that would be sure to follow any similar consideration, it remains a possibility, especially were Trump to take the White House again after November.

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I quoted Cohen too often to remember. It’s a bad thing that America has lost its no. 1 Russia expert. Then again, he was marginalized for it already anyway.

Stephen F. Cohen, Leading American Russia Expert, Dies At 81 (RT)

Stephen F. Cohen, the leading American Russia expert of his generation and a celebrated historian of Russia and the Soviet Union, who became a vocal critic of Washington’s “new Cold War” with Moscow, has died at the age of 81. Cohen succumbed to lung cancer at his home in Manhattan, on Friday, according to his wife Katrina vanden Heuvel, who is also the part-owner and publisher of The Nation magazine, where he worked as a contributing editor. A native of Kentucky, he was a prolific and prominent scholar in his field, serving as a professor emeritus of Russian studies at Princeton University and New York University. As a frequent visitor to Russia, Cohen became well-connected among leading Soviet dissidents, politicians and thinkers in the 1980s, even befriending Soviet premier Mikhail Gorbachev.

Cohen also advised former US President George Bush, senior, in the late 1980s, and assisted Anna Larina, the widow of Nikolai Bukharin, to rehabilitate her husband’s name during the Soviet era. He had earlier written a biography of the journalist and politician, which argued that had Bukharin succeeded Vladimir Lenin as Bolshevik leader, rather than Joseph Stalin, the Soviet Union would have enjoyed greater openness, and perhaps even democracy. Breaking with many American academics and political commentators, Cohen was highly critical of Washington’s approach to Russia following the collapse of the Soviet Union. He warned of the dangers of NATO expansion and argued that much of the economic devastation seen in Russia during the 1990s could be traced to bad-faith policies and advice from the United States.

His principled, and patriotic stand, led to smears from members of the think tank racket and both liberal and neoconservative interventionists, keen to stoke tensions with Moscow. Cohen was labelled a Putin apologist. He responded by saying that he saw him as being “in the Russian tradition of leadership, getting Russia back on its feet.” After the election of Donald Trump, Cohen found himself in the crosshairs of the mainstream media for challenging the now-debunked Russiagate narrative, which he said was being used to sabotage bilateral relations and trigger a “new Cold War” with Moscow.

The unsubstantiated claim that Trump’s presidential campaign “colluded” with the Kremlin would likely make a US-Russia detente “impossible” and could even help fuel an actual war between the two nations, Cohen argued. He lamented that Special Counsel Robert Mueller’s probe into the conspiracy theory, which found no evidence of collusion, would do little to tone down the fiery rhetoric and anonymously sourced media hysteria concerning Russia and its alleged influence over the US political system.

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Stephen Cohen on July 18 2018.

Trump as New Cold War Heretic (Stephen F. Cohen)

As has every American president since Franklin Delano Roosevelt in 1943, President Trump held a summit meeting with the Kremlin’s leader—Russian President Putin, in Helsinki on July 16. As with every president since Eisenhower, the underlying and overriding purpose was to reduce the chances of war between the two nuclear superpowers. With the new US-Russian Cold War fraught with possibilities of hot war on several fronts, from Ukraine and the Baltic and Black Sea regions to Syria, Trump had a vital national-security duty to meet in the most august way with Putin.

As with previous summits, details will come later, but the two leaders reached several important agreements: to revive the necessary US-Russian diplomatic process tattered by recent events; to restore decades-long negotiations intended to reduce and regulate nuclear weapons and thus avert a new nuclear arms race; to jointly try to prevent Iran, Russia’s Middle East partner, from threatening “Israeli security,” as Putin formulated it, on that nation’s borders; to jointly relieve the “humanitarian” crisis in Syria, whose suffering was caused substantially by the aid rendered by Washington and its allies to anti-Assad “freedom fighters” and then, as collateral damage, by Moscow’s intervention in the Syrian war, in September 2015, in order to destroy the murderous Islamic State, which was threatening to take Damascus; and to promote American-Russian “business ties,” a nebulous aspiration, considering US and European economic sanctions on Russia. (This was possibly a signal by Trump that he would not object, as President Obama had, if the European Union diminished or terminated its sanctions, as several of its members wish to do and as would be wise.)

Historically, in what were once “normal” Cold War times, these summit achievements would have been widely supported, even applauded, across the American political spectrum, as they were, for example, even under President Nixon. But not Trump’s, which elicited an unprecedented torrent of denunciation by the US mainstream bipartisan (primarily Democratic but far from only) political-media establishment. Idioms varied, from The Washington Post to MSNBC and CNN, but the once-stately New York Times, as is now its nearly daily practice, set the tone. Its front-page headline on July 17 blared: “Trump, At Putin’s Side, Questions U.S. Intelligence on 2016 Election.” Another headline below explained, “Disdain for U.S. Institutions, and Praise for an Adversary.” The “reporting” itself was fulsomely prosecutorial, scarcely mentioning what Trump and Putin had agreed to.

Times columnists competed to indict the American president. An early entry, on July 16, before anything was actually known about the summit results, came from Charles M. Blow, whose headline thundered: “Trump, Treasonous Traitor.” The title of the entry by Michelle Goldberg, on July 17, was less alliterative: “Trump Shows the World He’s Putin’s Lackey.” Much as I predicted in the weeks prior to the summit, the same toxic message bellowed through the realm of mainstream print and cable “news”: Trump had betrayed and shamed America before the entire world. As has been the case for years regarding “the Russia threat”—created mainly by US policy itself—no dissenting voices were included in the “discussions,” apart perhaps from unqualified Trump spokespeople.

The media coverage, not Trump himself at the summit, was shameful. But media were reporting “news,” of the kind they wanted, amplifying leading political figures, also across the spectrum. As usual on this subject, Senator John McCain led the vigilante posse: “No prior president has ever abased himself more abjectly before a tyrant.” He added for personal emphasis: “One of the most disgraceful performances by an American president in memory.” Most unusual, given the traditional non-political public role of intel chiefs, however, was former CIA director John Brennan, who quickly appeared as Trump’s prosecutor and judge, declaring that his behavior in Helsinki “exceeds the threshold” for impeachment and indeed “was nothing short of treasonous.”

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Sep 052020
 
 September 5, 2020  Posted by at 10:04 am Finance Tagged with: , , , , , , , , , ,  11 Responses »


John Guttman 1st drive-in theater in California, Los Angeles 1935

 

Russia’s COVID19 Vaccine Showed Antibody Response In Initial Trials (R.)
Post-COVID Syndrome Severely Damages Children’s Hearts (MedEx)
Back to School…D’ya Think? (Kunstler)
Joe Biden Goes Full Ron Burgundy (ZH)
Stocks Are Up. Wages Are Down. What Does it Mean? (EFTD)
Fed Chair Powell: Wearing Masks Can Lead To ‘Enormous’ Economic Gains (Y!)
Nearly Two-Thirds Of New York Restaurants Could Close By Year’s End (JTN)
DOJ, Flynn Lawyers Urge Judge To Move ‘With Dispatch’ To Dismiss Charges (JTN)
In Joint Motion With DOJ, Flynn Requests Court Expedite Ruling (SAC)
Why Capitalism Creates Pointless Jobs (David Graeber)

 

 

On the COVID front, the numbers get uglier, but the Russian vaccine works, so how many have we ordered, did you say? Can we get the billions in development funds back from Big Pharma?

On the election front, it’s getting harder to find news, because the polarization is getting so extreme. The Atlantic piece about Trump badmouthing soldiers is on the level of eating babies stories, but people eat it up. What else do they have in store? And why isn’t anyone calling for calm?

 

 

 

 

 

 

 

Ben Hunt

 

 

It seems to work. What are we waiting for?

Russia’s COVID19 Vaccine Showed Antibody Response In Initial Trials (R.)

Russia’s “Sputnik-V” COVID-19 vaccine produced an antibody response in all participants in early-stage trials, according to results published on Friday by The Lancet medical journal that were hailed by Moscow as an answer to its critics. The results of the two trials, conducted in June-July this year and involving 76 participants, showed 100% of participants developing antibodies to the new coronavirus and no serious side effects, The Lancet said. Russia licensed the two-shot jab for domestic use in August, the first country to do so and before any data had been published or a large-scale trial begun.

“The two 42-day trials – including 38 healthy adults each – did not find any serious adverse effects among participants, and confirmed that the vaccine candidates elicit an antibody response,” The Lancet said. “Large, long-term trials including a placebo comparison, and further monitoring are needed to establish the long-term safety and effectiveness of the vaccine for preventing COVID-19 infection,” it said. The vaccine is named Sputnik-V in homage to the world’s first satellite, launched by the Soviet Union. Some Western experts have warned against its use until all internationally approved testing and regulatory steps have been taken.

But with the results now published for the first time in an international peer-reviewed journal, and with a 40,000-strong later-stage trial launched last week, a senior Russian official said Moscow had faced down its critics abroad. “With this (publication) we answer all of the questions of the West that were diligently asked over the past three weeks, frankly with the clear goal of tarnishing the Russian vaccine,” said Kirill Dmitriev, the head of the Russian Direct Investment Fund (RDIF), Russia’s sovereign wealth fund, which has backed the vaccine. “All of the boxes are checked,” he told Reuters. “Now… we will start asking questions of some of the Western vaccines.”

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More freak stuff.

Post-COVID Syndrome Severely Damages Children’s Hearts (MedEx)

Multisystem inflammatory syndrome in children (MIS-C), believed to be linked to COVID-19, damages the heart to such an extent that some children will need lifelong monitoring and interventions, said the senior author of a medical literature review published Sept. 4 in EClinicalMedicine, a journal of The Lancet. Case studies also show MIS-C can strike seemingly healthy children without warning three or four weeks after asymptomatic infections, said Alvaro Moreira, MD, MSc, of The University of Texas Health Science Center at San Antonio. Dr. Moreira, a neonatologist, is an assistant professor of pediatrics in the university’s Joe R. and Teresa Lozano Long School of Medicine.


“According to the literature, children did not need to exhibit the classic upper respiratory symptoms of COVID-19 to develop MIS-C, which is frightening,” Dr. Moreira said. “Children might have no symptoms, no one knew they had the disease, and a few weeks later, they may develop this exaggerated inflammation in the body.” The team reviewed 662 MIS-C cases reported worldwide between Jan. 1 and July 25.

Among the findings:
• 71% of the children were admitted to the intensive care unit (ICU).
• 60% presented with shock.
• Average length of stay in the hospital was 7.9 days.
• 100% had fever, 73.7% had abdominal pain or diarrhea, and 68.3% suffered vomiting.
• 90% had an echocardiogram (EKG) test and 54% of the results were abnormal.
• 2.2% of the children required mechanical ventilation.
• 4.4% required extracorporeal membrane oxygenation (ECMO).
• 11 children died.


“This is a new childhood disease that is believed to be associated with SARS-CoV-2,” Dr. Moreira said. “It can be lethal because it affects multiple organ systems. Whether it be the heart and the lungs, the gastrointestinal system or the neurologic system, it has so many different faces that initially it was challenging for clinicians to understand.” The amount of inflammation in MIS-C surpasses two similar pediatric conditions, Kawasaki disease and toxic shock syndrome. “The saving grace is that treating these patients with therapies commonly used for Kawasaki—immunoglobulin and glucocorticosteroids—has been effective,” Dr. Moreira said.

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“Covid has initiated the death of public ed in America..”

Back to School…D’ya Think? (Kunstler)

“…Covid has initiated the death of public ed in America…. The state cannot decide whether we should start full remote or whether we should try some weird hybrid schedule. Nobody can make a decision. The union is pissed. They know most of the classrooms are poorly ventilated and too small and they see nothing but a ‘cruise ship’ scenario unfolding. Remote is terrible, but it is better than nothing….” Before we go further, remember the first principle of the long emergency: anything organized at the giant scale is liable to fail. During the post-war growth spurt, we consolidated all the nation’s schools into giant districts serviced by the yellow bus fleets bringing thousands of kids together in buildings designed to look like insecticide factories.

And when that project was complete, what did we get? Two decades of mass shootings in schools. I don’t think we got the correct message from this — which is that this manner of schooling produces so much ennui and anomie that some kids turn homicidal by the time they hit their teens. The fact that this condition remains unrecognized, and certainly absent from public discussion, says a lot about our disastrous collective psychology of previous investment: having set up this miserable system at titanic expense, we can’t even think about changing it. Now, as is usual in human history, the process will happen emergently, on its own, whether we like it or not, because circumstances demand it.

Another matter absent from news media is what happens when falling tax revenues start to bite the giant consolidated school districts. My physics teacher correspondent in New England writes: “School finances are in full reverse mode. Whispered in the hallways before every school committee and in every town council chamber is the awesome reality that sales tax and property tax collections are down 25 – 30 percent. The fear is palpable…. It seems to me that Public Ed as we currently know it will be history in about four years. It is a big edifice. It will take a few years to fully implode, but not a decade. There’s no money left to keep it going as it is.”

Read more …

This was just too funny.

Joe Biden Goes Full Ron Burgundy (ZH)

Joe Biden engaged in a giant softball game with the press today – perhaps best described by Newsbusters’ Curtis Houck as not “even putting the ball on the tee. This is hitting the ball over the stands and letting Biden run the bases.” But before we get the choreographed Q&A, you should know that Biden went full Ron Burgundy today – reading “end of quote” off the teleprompter. The Friday flub comes just one day after Biden read ‘topline message’ off another teleprompter. In short, Biden is now having issues with ‘behind the curtain’ media cues.

Hillary

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“Since 2017, Bezos’ net worth has grown by about $4 million per hour..”

Stocks Are Up. Wages Are Down. What Does it Mean? (EFTD)


If you listen carefully, you can hear Jeff Bezos getting richer. There’s the sound again. Another billion in Bezos’ coffers. Let’s put some numbers to this sound of money. Since 2017, Bezos’ net worth has grown by about $4 million per hour — roughly 500,000 times the US minimum wage.1 This accumulation of wealth would be absurd during normal times. Today, as many workers lose their jobs to a brutal pandemic, it’s obscene. While Bezos is the pinnacle of capitalist excess, his wealth is part of a larger story. Over the last 40 years, stock prices have surged while wages have stagnated. What does this trend mean? In this post, I take a deep dive into the stock market. I’ll first tell you what the stock market is not. It’s not an indicator of ‘productive capacity’. Nor is it ‘fictitious capital’. So what is it?

The stock market, argue Jonathan Nitzan and Shimshon Bichler, is how capitalists quantify their power. To understand what Nitzan and Bichler are talking about, we’ll unmask the ritual that defines our social order — the ritual of capitalization. Read on to take the red pill and lift the veil of capitalist ideology. When it comes to the stock market, many people believe they have original insight. Often, however, they’re parroting old ideas. Noting this tendency, economist John Maynard Keynes wrote: “[T]he ideas of economists and political philosophers … are more powerful than is commonly understood. Indeed the world is ruled by little else. Practical men, who believe themselves to be quite exempt from any intellectual influences, are usually the slaves of some defunct economist.” (Keynes in The General Theory)

When it comes to interpreting the stock market, there are two big ideas. Both come from ‘defunct economists’. The first big idea is that rising stocks are good for everybody. I’ll call this the ‘good-for-GM’ worldview (for reasons explained below). This big idea owes not to any single economist, but to an entire defunct school: neoclassical economics. The second big idea is that the stock market is disconnected from the rest of the economy. I’ll call this the ‘fictitious-capital’ worldview. It’s an idea that dates back to Karl Marx (who had a defunct view of capital). Let’s unpack these ideas.

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He doubles as a doctor?

Fed Chair Powell: Wearing Masks Can Lead To ‘Enormous’ Economic Gains (Y!)

Federal Reserve Chairman Jay Powell said Friday that Americans should wear masks and follow social distancing guidelines to ensure an economic recovery. “There’s actually enormous economic gains to be had nationwide from people wearing masks and keeping their distance,” Powell told NPR. Powell added that short of a vaccine, such measures enable people to “go back to work and not get sick.” Powell also spoke about the August jobs report, describing the addition of 1.371 million payrolls in August as “a good one.” The Bureau of Labor Statistics reported the new numbers on Friday morning, which also showed the unemployment rate falling to 8.4% — below the street’s expectations.

Powell pointed out that the August gains were not as large as those in May and June. “I guess I would just say, the recovery is continuing,” Powell said Friday in a clip aired on NPR’s “All Things Considered.” “We do think it will get harder from here because of those areas of the economy that are so directly affected by the pandemic still.” Powell’s remarks on Friday mark his third media interview since the COVID-19 crisis began. On March 26, Powell appeared on NBC’s “Today Show” and in mid-May, CBS’s “60 Minutes” interviewed Powell. The Fed Chairman’s remarks to NPR will be the last from Fed officials as policymakers head into a media blackout ahead of the Federal Open Market Committee’s meeting on September 15 and 16.

“We think that the economy’s going to need low interest rates, which support economic activity, for an extended period of time,” he told NPR. “It will be measured in years. The Fed chief also emphasized that more fiscal support is needed from lawmakers at the White House and Capitol Hill, for example on eviction moratoriums. “We shouldn’t let those people lose everything they have and have to move out or be evicted and move in with family. That’s also not going to be good for containing the COVID spread,” he said.

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Eat at home.

Nearly Two-Thirds Of New York Restaurants Could Close By Year’s End (JTN)

New York restaurants are taking the hit from Gov. Andrew Cuomo’s extended coronavirus shutdowns, with almost two-thirds of owners saying they could be out of business by year’s end, according to a survey released Thursday. The survey by the New York State Restaurant Association is based on responses from over 1,000 restaurant owners in the state and provides a window into the future of the previously booming industry, as the pandemic nears six months. Roughly 63% of respondents said they could likely close by the end of the year without some form of financial relief and 36% said they expect to still be in business in January. “It is painfully clear that without financial assistance, the restaurant industry in New York State could collapse,” said Melissa Fleischut, the NYSRA’s president and CEO.


“These recent survey results illustrate just how dire the financial situation has become for most restaurants, and it shows how critical it is that elected officials understand the urgency of the situation.” Restaurant owners need financial support but ultimately want increased indoor dining capacity and in NYC the ability to open for indoor dining. New York city officials said earlier this week that roughly 1,300 of the city’s 25,000 restaurants and bars have shut down amid the pandemic. “We are now asking the governor, the state Legislature and those at the federal level to simply help us survive. Without further assistance, the restaurant industry as we know it could be gone in a New York minute,” Fleischut also said.

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Why am I thinking the judge will let it go to the Supreme Court? What does he have to lose?

DOJ, Flynn Lawyers Urge Judge To Move ‘With Dispatch’ To Dismiss Charges (JTN)

The Justice Department and Michael Flynn’s defense team jointly asked a federal judge Friday to move “with dispatch” to complete a ruling on whether to dismiss the former Trump adviser’s guilty plea and related criminal charge from the Russia probe. The two sides, which agree the case should now be dismissed based on exculpatory evidence of innocence made public earlier this year, laid out a schedule in a joint status report to complete briefs, reports and hearings in September. “The United States and General Flynn agree that this Court should resolve the pending motion to dismiss with dispatch,” their report argued. “Any delay would harm both the government, which must expend resources on a case that it has determined should be dismissed, and General Flynn, who faces impairments on his liberty and the cloud of a pending prosecution that the Executive Branch seeks to end.”


The filing came just days after the full DC Circuit Court of Appeals overturned a three-judge panel’s decision and refused to grant a writ of mandamus that would have dismissed the charge against Flynn. The appeals court sent the case back to U.S. District Judge Emmet Sullivan and asked him to move quickly to resolve the matter. Flynn withdrew his guilty plea nearly a year ago and the Trump DOJ concluded earlier this year that Special Counsel Robert Mueller’s prosecution of the former Trump national security adviser for lying to the FBI was unwarranted.

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“..there is no reason for any delay.”

In Joint Motion With DOJ, Flynn Requests Court Expedite Ruling (SAC)

Former National Security Advisor Michael T. Flynn and the Department of Justice filed a motion late Friday to expedite his case after the U.S. Court of Appeals for the D.C. Circuit denied his petition for a writ of mandamus against Judge Emmet Sullivan, who is overseeing the case. Flynn’s case has been a roller coaster ride since the former Special Counsel Robert Mueller targeted the former director of the Defense Intelligence Agency, who went on to be a loyal and trusted member of Trump’s team in 2016. Moreover, Flynn has been up against a behemoth of opposition from former Obama officials and Sullivan, who has acted more like a prosecutor than a judge. The circumstances surrounding Flynn’s case have led Trump, along with many others, to call for his exoneration.

Evidence discovered over the past year by the DOJ’s Inspector General, Flynn’s attorney, Sidney Powell, and an appointed counsel put in place by Attorney General William Barr reveal extensive malfeasance in the FBI’s handling of its investigation into the Trump campaign and Flynn. The litany of evidence collected during the investigations led the Justice Department to request a dismissal Flynn’s case. Unfortunately, the request to dismiss the case was politicized by Judge Sullivan, who is overseeing Flynn’s case. He has been fighting the request and accusing Barr of intervening on behalf of Trump. Because of this, Sullivan appointed an amicus curiae, a friend of the court, to argue on his behalf as to why the case should not be dismissed until he reviews it further.

Powell fought back against Sullivan’s unusual actions but could not persuade the appellate court last week to order Sullivan to dismiss the case against Flynn based on the Justice Department’s motion to have his case dismissed. In effect, Flynn and his family have faced an extraordinary ordeal over the past three years that has left the three-star general and war hero depleted of funds and emotionally strained. “We look forward to getting a ruling on the government’s motion to dismiss as soon as possible,” Powell told SaraACarter.com. “Between the issues fully briefed for the Court of Appeals in which Judge Sullivan fully participated as if he were a party and the briefing already filed in his court, there is no reason for any delay.” In the motion Powell and the Justice Department argue that it “is not necessary, however, for this Court to wait until September 21 to proceed with this case. The Court instead may, and should, set a schedule to resolve this case as soon as possible.”

Read more …

4 years ago.

Why Capitalism Creates Pointless Jobs (David Graeber)

In the year 1930, John Maynard Keynes predicted that technology would have advanced sufficiently by century’s end that countries like Great Britain or the United States would achieve a 15-hour work week. There’s every reason to believe he was right. In technological terms, we are quite capable of this. And yet it didn’t happen. Instead, technology has been marshaled, if anything, to figure out ways to make us all work more. In order to achieve this, jobs have had to be created that are, effectively, pointless. Huge swathes of people, in Europe and North America in particular, spend their entire working lives performing tasks they secretly believe do not really need to be performed. The moral and spiritual damage that comes from this situation is profound. It is a scar across our collective soul. Yet virtually no one talks about it.

Why did Keynes’ promised utopia – still being eagerly awaited in the ‘60s – never materialise? The standard line today is that he didn’t figure in the massive increase in consumerism. Given the choice between less hours and more toys and pleasures, we’ve collectively chosen the latter. This presents a nice morality tale, but even a moment’s reflection shows it can’t really be true. Yes, we have witnessed the creation of an endless variety of new jobs and industries since the ‘20s, but very few have anything to do with the production and distribution of sushi, iPhones, or fancy sneakers.

So what are these new jobs, precisely? A recent report comparing employment in the US between 1910 and 2000 gives us a clear picture (and I note, one pretty much exactly echoed in the UK). Over the course of the last century, the number of workers employed as domestic servants, in industry, and in the farm sector has collapsed dramatically. At the same time, “professional, managerial, clerical, sales, and service workers” tripled, growing “from one-quarter to three-quarters of total employment.” In other words, productive jobs have, just as predicted, been largely automated away (even if you count industrial workers globally, including the toiling masses in India and China, such workers are still not nearly so large a percentage of the world population as they used to be).

But rather than allowing a massive reduction of working hours to free the world’s population to pursue their own projects, pleasures, visions, and ideas, we have seen the ballooning not even so much of the “service” sector as of the administrative sector, up to and including the creation of whole new industries like financial services or telemarketing, or the unprecedented expansion of sectors like corporate law, academic and health administration, human resources, and public relations. And these numbers do not even reflect on all those people whose job is to provide administrative, technical, or security support for these industries, or for that matter the whole host of ancillary industries (dog-washers, all-night pizza deliverymen) that only exist because everyone else is spending so much of their time working in all the other ones.

These are what I propose to call “bullshit jobs.”

Read more …

 

 

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1958

 

 

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Sep 022020
 
 September 2, 2020  Posted by at 7:09 pm Finance Tagged with: , , , , , , , , , ,  16 Responses »


Caspar David Friedrich The Monk by the Sea c1809

 

 

“The Kremlin” poisoned their “fierce rival” Navalny with the infamous deadly agent novichok. That is the headline. Only, the German accusation in that direction doesn’t say novichok, its says a “cholinesterase inhibitor”, of which novichok is just one example, was used. The news outlets must be thinking that at least after the Skripal case, enough people will recognize the term, and let’s not confuse them.

The Germans claim they have “unequivocal proof” (eindeutiger Beweis) for this. While the Russian doctors who initially treated Navalny after he fell ill on a flight from Tomsk to Omsk (or was that the other way around?!) said he showed zero signs of poisoning. But yeah, they’re Russians, so they can’t be trusted, right? They all squander their Hippocratic oaths at the feet of the great malevolent dictator Trump Putin. You’re familiar with the parable about “all Cretans lie”?

“Merkel spokesman Seibert said the German government will inform its partners in the European Union and NATO about the test results..” NATO? What do they have to do with anything? How does the alleged poisoning of a two-bit (2% in the polls) Russian “politician” link to NATO? Is Navalny himself linked to NATO? Where does NATO come in to the conversation? How much does the CIA pay Navalny anyway?

 

The thing, the problem, is that it makes no difference anymore even if this particular instance has a kernel of truth in it. Because there have been so many of them, and they’re all “based” on non-evidence, circumstantial “evidence”, stuff that you wouldn’t get a conviction on in any western court. For good reason.

In the Skripal case, a pair of vague Russians were presented in the UK media who supposedly had been in the area where the alleged poisoning took place, where the head of all UK nurses “just happened” to deliver first aid, but the story still never made sense. Now I read in a Dutch news outlet that the two Skripals were moved to New Zealand to start a new life, but the fact remains that no-one has heard from them since that alleged incident. Almost as if someone doesn’t want to provide any proof, just the narrative.

In the MH17 case, another RussiaRussia story, they threw all credibility out from the start by appointing main victim the Netherlands (2/3 of deaths) the main prosecutor, but even more by allowing one of the main potential perpetrators, Ukraine, not just a role in the investigation, but handing them a veto right over whatever info could be shared with the outside world. I think we call that lock stock and barrel.

 

It is of vital importance for two parties -which might as well be one- in the west to keep accusing Russia of all manner of issues, while knowing full well they will never answer (though, remember Concord Asset Management, Robert Mueller III?), which means you can say whatever you want. It’s a free for all. The two parties are intelligence and NATO.

Western nations, and that means all of them, all the self-congratulating “democracies”, are being blackmailed by their own -secret- intelligence services, which most often pose as “national security services”, and they find they have no way out. In most countries, the best before date of a politician, even the political system itself, is way shorter than that of an intelligence agency’s agenda. The only thing a newly elected politician can do is accept a secret service’s word at face value, and define policy accordingly.

Be it domestic, bi-lateral vs particular countries, or global. The policies have already been defined years ago, and they have been defined by unelected “spooks”, not elected representatives of the people. This is incredibly (and I don’t use that word lightly) damaging to all of our societies, and we need to call a halt to it. But how do you do that? When they are the ones making policy, and not the people we vote into office to do that for us? It’s certainly not an easy task, but we can’t let them continue either. That would only mean assured destruction, economic depression and, ultimately, war.

 

That’s how and why we get the Navalny and Skripal stories. This goes back to at least WWII. US intelligence and the Wolfowitz/Brzezinski/Leo Strauss/Kissinger neocon cabal have severely compromised US national security for decades, only to funnel trillions towards US arms manufacturers, who today produce second rate weapons to boot. It is high time to stop this. Security is much better served by dialogue. Or should I say ”arguably?”

What the Navalny story, lacking evidence as much as so many other narratives, should tell us is that we are sort of hostages to a Ghost of Christmas past. We are being blackmailed as we speak by secret agents in cohort with the very military industrial complex that Eisenhower warned about, because they all need to keep a long lost dream alive in order to still appear relevant and chuck trillions out of our pockets.

It’s a scam, it’s blackmail. Russia is not about to attack you. They may have much better weaponry by now than we do (they do, check hypersonic), but they still won’t attack you, because A) they don’t want to, and B) they don’t have the numbers. They don’t have the manpower, they don’t have the money, they just want to be left alone, and we won’t leave them alone.

Our spooks invent Skripal and MH17 and Navalny and Russia collusion and prostitutes peeing on beds in Moscow. Because that’s how they justify -literally- endless streams of money towards their operations, and those of their Siamese twin NATO. All that money goes towards the 1950’s though, we’re paying through the nose for a long discredited notion and a long passed… past.

But as soon as anyone mentions Russia, you know there’s never going to be any checks and balances, as long as there are still enough people who buy into the Putin=”Bogeyman who eats little children” thing, in the same way that they believe Putin controls Donald Trump’s mind and policies. It’s a numbers thing: as long as enough people buy it, the narrative will continue to be sold.

You’re essentially stuck in your grandparents’ mindframe. No kidding. As we go through our 2020 crisis, which seems real enough, we spend extraordinary amounts of money on long outdates ideas maintained only to maintain the CIA and the army. Say what you will, but there’s nothing smart about that. It’s only very stupid.

Because, for one thing, suppose there are real threats lurking today, how can we face those while we’re still focusing on things that ceased being threats decades ago? Shouldn’t we perhaps replace our “intelligence” with something more intelligent? And fit not for the 1950’s but for the 2020’s?

Our “security services”, and NATO very much as well, make us less secure, safe, not more, because that’s the only way they know to justify their continued existence. Yes, there’s a paradox hidden in there somewhere. They don’t serve us, they only serve themselves.

 

 

 

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Aug 282020
 
 August 28, 2020  Posted by at 9:51 am Finance Tagged with: , , , , , , , , , , , , , ,  13 Responses »


Frans Hals Two Laughing Boys with a Mug of Beer 1626 (stolen 3rd time yesterday)

 

Pelosi Says There Shouldn’t Be Any Debates Between Biden And Trump (Hill)
Trump Denounces Riots, Cancel Culture, Failed Political Class In Speech (RT)
61 Million Americans Have Stopped Commuting (ZH)
WHO Skips Wuhan During China Trip; “Sat In Beijing For Three Weeks” (ZH)
US Imposes Sanctions On Russian Institute That Developed COVID19 Vaccine (GZ)
Germany Imposes Fine For All Non-Mask Wearers In New National Crackdown (ZH)
The Fed Policies Have Become Part Of The Problem (ZH)
Subprime Mortgages Fall Massively Delinquent (WS)
Shinzo Abe, Japan’s Longest-Serving PM, Resigns Due To Health Issues (RT)
Laura Ravages Louisiana Coast With Wind Speeds Not Seen In A Century (Hill)

 

 

260,000 reads for yesterday’s Are The Tables Starting To Turn? on Zero Hedge alone so far.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Nancy’s 80, and she’s losing again, in her final battle. When saying things like this, she will be seen by many people as a sore loser. Not by those who follow her anyway and anywhere, but by the undecideds. The polls say her party is losing those people. And she’s right, Biden will be hammered, but running away is not a viable option.

Most of all, if you ask me, Biden and Pelosi just look like very old and bitter people. Look at Biden!

Pelosi Says There Shouldn’t Be Any Debates Between Biden And Trump (Hill)

Speaker Nancy Pelosi (D-Calif.) said Thursday she doesn’t think there should be any presidential debates ahead of the November election, arguing Democratic presidential nominee Joe Biden shouldn’t “legitimize” a discussion with President Trump.“I don’t think that there should be any debates,” Pelosi told reporters. “I do not think that the president of the United States has comported himself in a way that anybody has any association with truth, evidence, data and facts.”“I wouldn’t legitimize a conversation with him nor a debate in terms of the presidency of the United States,” she added.


“I think that he’ll probably act in a way that is beneath the dignity of the presidency,” she said, citing what she called his “disgraceful” actions during the 2016 debates with former Secretary of State Hillary Clinton. “He does that every day,” she added. “But I think he will also belittle what the debates are supposed to be about.” Instead, Pelosi proposed that the candidates take separate stages and answer questions about their policies in a “conversation with the American people” instead of “an exercise in skulduggery.” But she acknowledged that the Biden campaign “thinks in a different way about this.”

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Take from RT. I’m pretty sure CNN’s take is slightly different.

Trump Denounces Riots, Cancel Culture, Failed Political Class In Speech (RT)

Speaking at the finale of the Republican National Convention, President Donald Trump doubled down on American exceptionalism and once again painted himself as an outsider fighting the Democrats and the entrenched establishment. The speech went on for over an hour, much longer than Joe Biden’s address a week ago at the Democratic convention. But whereas Biden spoke in an empty auditorium in Milwaukee, Trump spoke outside the White House, in the wilting heat of late summer in Washington, DC – and in front of more than a thousand people. In the absence of a formal party platform, Trump defined the Republican position for 2020 as undoing the damage done by the establishment; defending law and order from mobs and anarchy; fighting ‘cancel culture’ and making American great(er) again.

Though the tone of it was uneven – at times a campaign rally, at other times sounding like a State of the Union – and Trump was visibly running out of steam by the end, the underlying message was crystal clear. Time and again, Trump hammered Biden and the Democrats on the difference between their accomplishments during decades in power, and his over just one term. “We have spent the last four years reversing the damage Joe Biden inflicted over the last 47 years.” Trump painted Biden and the Democrats as globalists beholden to China economically, destroying American jobs and industries, opening the borders and starting endless foreign wars – which he was trying to end.

“How can Joe Biden claim to be an ally of the light, when his own party can’t even keep the lights on?” Trump joked, bringing up last week’s power outages in California – but it was also a dig at the theme of Biden’s speech last week, and the efforts by the media to accuse Republicans of being “dark and divisive.” “At no time before have voters faced a clearer choice between two parties, two visions, two philosophies, or two agendas,” Trump said. “This election will decide whether we save the American dream or whether we allow a socialist agenda to demolish our cherished destiny.” Democrats, Trump argued, see America as a wicked nation that must be punished for its sins, with giving them power as the only path to redemption. Yet Republicans – and most Americans, he argued – look to god for salvation, not politicians.

[..] Throughout, Trump cast himself as the outsider who left behind his comfortable life to battle the “failed political class” in Washington. He has done so with mixed success, dealing with brutal political intrigue, hostile media, endless lawfare, congressional gridlock, the ‘Russiagate’ probe and even an impeachment. But as he himself quipped, pointing to the White House, “we’re here and they’re not.” Even after four years of that, and an hour in the brutal heat of an August evening, Trump seemed ready, even eager, for more. Democrats may have believed the media and the polls to think this election was in the bag, but it isn’t – not by a long shot.

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I’m trying! I am! I’m trying to feel stupid for thinking that it’s great we finally found a way to make people NOT drive a car an hour+ every day that is 20x their weight and uses less than 10% of the energy effectively that moves it forward. I’m trying to feel stupid because, I know, the economy!

61 Million Americans Have Stopped Commuting (ZH)

A new survey from ValuePenguin.com, commissioned by LendingTree, found 61 million Americans have stopped commuting to work due to the virus-induced recession. The reduction of motor vehicles on highways will result in deep economic scarring across the entire economy. “The coronavirus has upended nearly every aspect of life in the United States, and Americans’ driving behavior and commutes are no exception. ValuePenguin surveyed drivers to see how their habits have changed. We found a large number of drivers are no longer commuting to the office, whether because they are working from home or have lost employment due to COVID-19.” -ValuePenguin. The survey found three in 10 respondents with motor vehicles are no longer making the daily commute to work in a post-COVID-19 world:


“About three in 10 consumers with a motor vehicle said they no longer have a commute due to COVID-19, either because they’re working from home (19%) or they temporarily or permanently lost their jobs (10%). On the other hand, 26% are back to their daily commute as of August, including essential workers (17%) and those whose employers reopened their offices (9%). (The remainder don’t have commutes either because they worked from home prior to the pandemic, or they were not working prior to the pandemic.)” -ValuePenguin [..] The decline in travel has resulted in respondents making fewer trips to the gas pump. Almost a third said they’re driving every day, compared to 50% of drivers pre-pandemic. The number of respondents who fill up their tanks every week dropped by 26% in August versus before the pandemic.

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Can we close them down now, finally? I get the point behind having a global health organization, but this is not that point. The WHO should have loudly denounced not being able to access Wuhan a long time ago.

WHO Skips Wuhan During China Trip; “Sat In Beijing For Three Weeks” (ZH)

A delegation from the World Health Organization tasked with investigating the origins of COVID-19 failed to go to Wuhan, China – ‘ground zero’ for the pandemic, and instead “sat in Beijing for three weeks” according to a senior US official, who told the Financial Times that Western governments are skeptical over China’s commitment to identifying the origins of the pandemic. “Any chance of finding a smoking gun is now gone,” the official continued. Though we’re not sure what any team of investigators would find after China blocked international epidemiologists for eight months after the outbreak began. Australian MP Dave Sharma told the Times: “The international community is right to have serious concerns about the rigour and independence of the WHO’s early response to this pandemic, and its seeming wish to avoid offending China.

“If this allegation is proven, it is another disturbing incident of the WHO — which is charged with safeguarding global public health — putting the political sensitivities of a member state above the public health interests of the world, in the critical early stages of this pandemic. We are all now bearing the immense costs of such a policy.” The WHO, meanwhile, says that the three-week visit was ‘merely laying the groundwork in advance of a full international mission,’ but gave no indication when this might happen. “After initially bristling at calls from Australia, the US and other countries for a probe into the outbreak, which has claimed more than 800,000 lives, Chinese president Xi Jinping in May endorsed a WHO-led inquiry.

But the WHO resolution “to identify the zoonotic source of the virus and the route of introduction to the human population” — which was backed by more than 130 countries — has been dogged by concerns over transparency and access.” -Financial Times. “A two-person WHO team has recently concluded its three-week assignment in China to lay the groundwork for an investigation into the source of the virus. This was in advance of the full mission, therefore, there are no ‘results of the WHO’s recent mission’ to share.”” said the UN agency in a statement last week.

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Like Russia cares. But shouldn’t we seek cooperation in things like this?

US Imposes Sanctions On Russian Institute That Developed COVID19 Vaccine (GZ)

The Russian government announced this August that it had registered the world’s first Covid-19 vaccine, called Sputnik V. Sputnik V was developed by the Russian Health Ministry’s Gamaleya Research Institute of Epidemiology and Microbiology. This scientific facility created the vaccine in a joint research project with the Russian Defense Ministry’s 48th Central Research Institute. On August 27, the US Commerce Department imposed sanctions on Russia’s 48th Central Research Institute, blacklisting the scientific body. While Russia took a state-led approach to create a coronavirus vaccine, the Trump administration announced a “public-private partnership” in May.


The program, called “Operation Warp Speed,” saw the US government dole out billions of tax dollars to Big Pharma companies. The Trump administration awarded massive contracts to private corporations like Novavax, Pfizer, and Moderna, while Trump reportedly offered “large sums of money” for exclusive rights to a vaccine being developed by a German firm so it could be sold for profit. But the US public-private partnership was unable to develop a vaccine before foreign countries with government-led research efforts did. Besides Russia, a state-owned Chinese company says its vaccine will be ready by the end of 2020, while Cuba is doing clinical trials for a vaccine of its own.

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It would really help to know what this mask mandate entails. Does it include people outside? In their own homes? These are important details.

Germany Imposes Fine For All Non-Mask Wearers In New National Crackdown (ZH)

It should surprise nobody that this happens first within the EU. While much of the world takes to mask-wearing more out of a social and health consciousness “most people are on board” type attitude, the government of Germany has announced fines as punishment for people not wearing them. Chancellor Angela Merkel announced during a virtual meeting Thursday with state governors that almost the entire country will be under a 50 euros minimum ($59) fine for breaching the national mask mandate. After the meeting it was announced that all federal states except the east’s Saxony-Anhalt agreed on setting a minimum fine. In her comments Merkel also urged Germans to stay home “wherever it is possible” and avoid traveling to “hot spots” like the United States. Berlin also agreed to impose a strict limiting on gatherings.


Not only have many major public events been canceled outright, but police are enforcing a ban on private parties of more than 25 persons. Large public events will not return until 2021. The new stringent measures including the mask fines go into effect by the end of the day Thursday. This also as most German schools are now back in session, though there’s been a handful of closures due to new coronavirus cases. It’s part of a broader initiative proposed by German health officials to crackdown on people flouting social distancing measures amid the pandemic, even though in recent weeks authorities say coronavirus clusters are due mainly to incoming vacationers. Germany’s confirmed COVID-19 numbers have been on the whole relatively low compared to other Western nations, at about 240,000 out of a population of 83 million.

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You sure it shouldn’t read they ARE the problem?

The Fed Policies Have Become Part Of The Problem (ZH)

In one of the most overt criticism of the Fed we have read to date, [Rabobank’s Philip] Marey writes that “while the Fed’s step to make the inflation target “more” symmetric may benefit the wages of the average American somewhere beyond 2022, it does not really address the deeper problem with the role the Fed is playing in the US economy. It could be argued that the Fed’s policies have become part of the problem, instead of the solution.” And, as the Rabobank strategist suggests, “at least this should be a topic for debate in the FOMC, instead of talking a whole year about whether to use an average or not.”

To this all we would add is that the Fed should take a long, hard look at its prefered metric of core PCE: as we have repeatedly explained in recent years, the Fed continues to purposefully undercount inflation, and on top of that, it now has openly said it will disregard the politically palatable core PCE/CPI number just so it can continue blowing an asset bubble of epic proportions. It was Marey’s conclusion however that was the piece de resistance:

“The much deeper problem for the US economy is the asymmetric impact of Fed policies on households and businesses. The Fed’s monetary and regulatory policies have contributed to a form of capitalism where the rewards are going to the 1% and the risks are borne by the 99%. The current crisis response has made it painfully clear again that the Fed’s policies benefit high income individuals and large corporations, while small businesses and low income individuals bear the burden. While the Fed likes to see itself as part of the solution to America’s economic problems, it should ask itself whether it is also part of these problems.”

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The amounts of leverage everywhere in the system makes a price decline of 10-20% an absolute catastrophy.

Subprime Mortgages Fall Massively Delinquent (WS)

The Federal Housing Administration (FHA) prides itself in insuring subprime mortgages with, as it says, “low down payments,” “low closing costs,” and “easy credit qualifying” – all true. Of its active portfolio of 8 million mortgages that it insures, 17% were delinquent in July, the highest rate in FHA history. In many metros, the delinquency rates of FHA mortgages are above 20%; and in two metros, the delinquency rates exceed 27%. The delinquency rates include mortgages that were delinquent and then entered a forbearance agreement with the lender, where the lender agreed to not pursue its rights due to nonpayment of the mortgage.

During the term of forbearance – six months, under the CARES Act, extendable by another six months – the borrower isn’t making payments, but the missed interest and principal payments are added to the mortgage balance and will need to be paid somehow. A FICO credit score below 620 is considered “subprime.” The FHA insures mortgages of borrowers with credit scores well below that. • If the borrower has a credit score of at least 580, the FHA will accept down payments of only 3.5%. • If the FICO score is below 580, no problem, but then down payment is 10%. Many of the people whose mortgages the FHA insures have lost their jobs or had had their hours or work reduced. In terms of the lenders, the good thing is that they don’t carry the risk. The FHA and thereby the taxpayer carry the risk.

In terms of the taxpayer, the good thing is that home prices have risen in many markets in recent years, and are rising there right now, and that many fallen-behind homeowners can sell their home and pay off the defaulted mortgage with the proceeds from the sale, and maybe have a little cash left over. And if the home goes into foreclosure because the proceeds wouldn’t have been enough to pay off the mortgage, the losses would be relatively small. The widespread home price declines that occurred during the subprime crisis of Housing Bust have not happened yet. And that’s why at the moment no one is panicking about these sky-high delinquency rates. But when millions of homeowners cannot make the mortgage payments and have to put these millions of homes on the market – forced sellers – they trigger a sudden surge of supply of homes for sale, and the entire supply-and-demand equation, and thereby the pricing environment, are going to change.

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No more Abenomics would be a plus.

Shinzo Abe, Japan’s Longest-Serving PM, Resigns Due To Health Issues (RT)

Prime Minister Shinzo Abe, who led Japan for eight consecutive years, has said he is stepping down hours after he informed his ruling coalition that he was suffering from health issues. Explaining his decision earlier in the day, Shinzo Abe said he feared the illness would affect his decision-making. “I will not be able to make proper judgments due to illness,” the outgoing premier clarified, as quoted by Kyodo news agency. Abe has been suffering from ulcerative colitis, an inflammatory chronic disease, for many years. The prime minister himself revealed that his condition started to worsen around the middle of the last month, possibly prompting him to consider stepping down.


Moving on, Abe apologized “from the bottom of my heart” to his fellow countrymen, adding that he didn’t want his resignation to cause trouble for Japan’s domestic politics. With his eyes getting misty, the prime minister said it is now up to the Japanese to judge his legacy. He noted that his administration had created four million jobs while keeping the economy going. Meanwhile, local media reported that he will continue to serve as prime minister until a new leader is chosen, thus avoiding the need to appoint an acting premier. Abe’s ruling Liberal Democratic Party (LDP) is reportedly set to arrange a leadership election next Thursday.

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Seems to have been okay so far?!

Laura Ravages Louisiana Coast With Wind Speeds Not Seen In A Century (Hill)

Hurricane Laura made landfall as a powerful Category 4 hurricane early Thursday morning packing 150 mile-per-hour winds and bringing a storm surge with the potential to inundate coastal areas of western Louisiana to the Texas border with up to 20 feet of water. Laura made landfall around 1 a.m. near Cameron, La. The 400-person community is more than 30 miles east of the Texas border. Around 7 a.m. CDT, the storm was centered near Leesville, La., roughly 100 miles north of the Gulf Coast. The storm ties with a hurricane from more than 160 years ago as the strongest storm to hit the region. A hurricane called “Last Island” made landfall in Louisiana as a Category 4 storm with 150 mph winds in 1856, according to CNN.


Laura weakened to a Category 2 hurricane after making landfall but still packs sustained winds of more than 100 mph and will continue to produce heavy rain and flash flooding that are not expected to recede for several days. Government officials had warned people to find safety and get out of harm’s way as the storm approached. More 500,000 people in the storm’s path in coastal Texas and Louisiana were under evacuation orders, although as many as 150 people in Cameron Parish, where the hurricane came ashore, ignored the orders and were unreachable as of Thursday morning, according to The Associated Press. “This is a time for all of us to be praying for the best, while we’re prepared for the worst. God bless you and your families,” Louisiana Gov. John Bel Edwards (D) tweeted just before the storm made landfall.

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Aug 122020
 
 August 12, 2020  Posted by at 10:00 am Finance Tagged with: , , , , , , , , , ,  16 Responses »


Joel Meyerowitz Girl On A Scooter 1965

 

20 Countries Order One Billion Doses Of Russian COVID19 Vaccine (RT)
America’s Window Of Opportunity To Beat Back COVID19 Is Closing (STAT)
The Grifters, Chapter 2 – N95 Masks (Ben Hunt)
Wall Street Executives Are Glad Joe Biden Picked Kamala Harris (CNBC)
Cuomo Is Protecting His Wall Street Donors From Democratic Tax Bills (TMI)
UK Enters Recession As GDP Plunges By Record 20.4% In Q2 (CNBC)
What If Trump Won’t Leave? (IC)
John Solomon Calls For Creation Of New White House ‘Press Pool’ (JTN)
New Memos Show Relentless Pressure By Burisma On State Dept In 2016 (JTN)
Food Bank Strains Emerge As Economy Falls Off Fiscal Cliff (ZH)

 

 

The big thing today of course is Kamala Harris as VP candidate. I must say I don’t think I get it. There are tons of people expressing support, including the entire party, but far as I can see that doesn’t matter at all. Judge for yourselves, there are a few videos below.

What does matter, I think, is that Harris left the primaries last December because nobody voted for her, or like 2% did, after a highly publicized and very well-funded campaign.. People don’t like her! Simple. And those were the people in her own party!

This is not about issues, it’s intuition. Though Tulsi’s takedown of Harris in the debates can’t have helped.

You’re not going to turn that around dramatically by expressing support. It’s the purest gauge you can get, and then you just ignore that? Really, are we sure they want to win? This graph is from November 2019, before she dropped out. Even in her own California, she barely got 5%.

 

 

 

This is just funny:

 

 

Hmmm. Both global new cases and new deaths up quite a lot.

 

 

US cases look sort of okay, but deaths have almost tripled from the day before,. most since May 27.

 

 

 

 

 

 

 

 

And the FT graph I post sometimes doesn’t look great either:

 

 

 

 

Tulsi Kamala

Kamala DNA tests

 

 

Lots of people say it wasn’t tested properly and cannot be trusted. And it’s fine, don’t take it, see if we care. But don’t tell me the Russians are going to kill their own people.

20 Countries Order One Billion Doses Of Russian COVID19 Vaccine (RT)

A total of 20 nations from Latin America, the Middle East, and Asia have already requested doses of Russia’s breakthrough coronavirus vaccine, which was confirmed to be registered on Tuesday by Russian President Vladimir Putin. At a conference dedicated to the announcement of the vaccine’s registration, the CEO of the Russian Direct Investment Fund (RDIF) explained that it had already received orders for a billion doses. “Together with our foreign partners, we are ready to produce more than 500 million doses of the vaccine per year,” Kirill Dmitriev explained. Everything produced in Russia will be used domestically, and doses for use in other countries will be made abroad.


According to Dmitriev, the RDIF is also working on a humanitarian aid program for developing countries, with the aim of making the Covid-19 vaccine available in states that can’t afford to make or buy their own. Explaining that vaccination is an acute problem in the world’s poorest countries, Dmitriev said that the fund believes “people around the world should have equal access to a vaccine, regardless of their financial situation.” On Tuesday, Russian President Vladimir Putin announced that the country had registered the world’s first Covid-19 vaccine. Named “Sputnik V,” the vaccine is due to enter mass production soon, and will be available to the general public from January 2021. Despite being registered, the vaccine will still go through more clinical trials in Russia and the Middle East.

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COVID waxes poetic: “..this winter could be Dickensianly bleak..”

America’s Window Of Opportunity To Beat Back COVID19 Is Closing (STAT)

The good news: The United States has a window of opportunity to beat back Covid-19 before things get much, much worse. The bad news: That window is rapidly closing. And the country seems unwilling or unable to seize the moment. Winter is coming. Winter means cold and flu season, which is all but sure to complicate the task of figuring out who is sick with Covid-19 and who is suffering from a less threatening respiratory tract infection. It also means that cherished outdoor freedoms that link us to pre-Covid life — pop-up restaurant patios, picnics in parks, trips to the beach — will soon be out of reach, at least in northern parts of the country.

Unless Americans use the dwindling weeks between now and the onset of “indoor weather” to tamp down transmission in the country, this winter could be Dickensianly bleak, public health experts warn. “I think November, December, January, February are going to be tough months in this country without a vaccine,” said Michael Osterholm, director of the Center for Infectious Diseases Research and Policy at the University of Minnesota. It is possible, of course, that some vaccines could be approved by then, thanks to historically rapid scientific work. But there is little prospect that vast numbers of Americans will be vaccinated in time to forestall the grim winter Osterholm and others foresee.

Human coronaviruses, the distant cold-causing cousins of the virus that causes Covid-19, circulate year-round. Now is typically the low season for transmission. But in this summer of America’s failed Covid-19 response, the SARS-CoV-2 virus is widespread across the country, and pandemic-weary Americans seem more interested in resuming pre-Covid lifestyles than in suppressing the virus to the point where schools can be reopened, and stay open, and restaurants, movie theaters, and gyms can function with some restrictions.

“We should be aiming for no transmission before we open the schools and we put kids in harm’s way — kids and teachers and their caregivers. And so, if that means no gym, no movie theaters, so be it,” said Caroline Buckee, associate director of the Center for Communicable Disease Dynamics at Harvard’s T.H. Chan School of Public Health. “We seem to be choosing leisure activities now over children’s safety in a month’s time. And I cannot understand that tradeoff.”

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Ben Hunt has raised $1 million over the past half year for masks for health care workers. Because the system doesn’t function in the US after decades of neglect.

The Grifters, Chapter 2 – N95 Masks (Ben Hunt)

Last week, Mike Pence shook his finger at us and said that there were no outstanding requests on federal PPE stockpiles from any governor, and thus any urgent requests for N95 masks from doctors or nurses were isolated incidents to be quickly resolved by state authorities. SMACK goes the bag of oranges. In truth, both the supply and the distribution of N95 masks in the United States remains a national disgrace, a squandered opportunity to fight Covid with something other than death cultism or lockdown defeatism. In truth, what could have been our finest hour is turning into our worst. For the past six months, a big part of my life has revolved around getting PPE directly to doctors, nurses, EMTs, first responders, social workers and other frontline heroes in this war against Covid-19.

Thanks to the amazing generosity of donors big and small, we raised close to $1 million. Thanks to the inspired work of a dozen friends-for-life-most-of-whom-I-didn’t-even-know-before-this, we first set up an “underground railroad” of N95 and high-quality KN95 masks from China, and later a steady network of PPE suppliers. Thanks to the daily, unwavering commitment of a small team (literally my wife and daughter, literally working out of our garage), we’ve been able to distribute more than 120,000 medical respirators in batches of 100-200 to more than 1,100 hospitals, clinics, police departments, fire departments, prisons and shelters across 47 states. So far. We’ll get out another 4,000+ this week. And next week. And every week until we win this war.

Clear eyes. Full hearts. Can’t lose. Is the overall PPE situation for healthcare workers and first responders better today than it was in April? Absolutely. In April we were sending masks to desperate ER docs and nurses at major hospitals in the biggest cities in America. Today there is neither an urgent need nor even a shortage of PPE in these big city ERs and ICUs. Why not? Because, distribution of PPE from our massive federal and state stockpiles is designed for big cities and big hospital systems. Because that’s how the American system of trickle-down everything … in this case PPE … works.

Eventually, Andrew Cuomo sucks it up and asks Mike Pence for help, and eventually Mike Pence makes a call to FEMA, and eventually all the requisition forms get filled out and signed by all the right people at the governor’s office, and eventually a truckload of 1 million N95 masks makes the trip from the FEMA warehouse to the New York-Presbyterian warehouse, and eventually a NY-P van starts shuttling a pallet of masks every week to every NY-P hospital loading bay, and eventually the boxes of N95s get allocated to the individual medical departments. Eventually.

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‘Nuff said?!

Both Wall Street execs AND Black Lives Matter are happy about the same thing? One of them might want to do some thinking. She locked up a lot of young black people in California, for one thing.

Wall Street Executives Are Glad Joe Biden Picked Kamala Harris (CNBC)

Wall Street leaders on Tuesday cheered Joe Biden’s selection of Sen. Kamala Harris as his running mate in the presidential election. Finance executives, confident the ticket has what it takes to topple President Donald Trump, raved about her experience in government, as well as her fundraising prowess. “I think it’s great,” said Marc Lasry, the CEO of investment firm Avenue Capital Group. “She’s going to help Joe immensely. He picked the perfect partner.” Lasry is also a part owner of the NBA’s Milwaukee Bucks. Blair Effron, the co-founder of Centerview Partners, texted “GREAT CHOICE” to CNBC. Citigroup’s Ray McGuire sent a similar message.

When she ran for president last year, Harris saw contributions from executives in a wide range of industries, including film, TV, real estate and finance, according to data from the nonpartisan Center for Responsive Politics. Her campaign finished raising close to $40 million. Harris, who dropped out of the race in December, opened up a joint fundraising committee with the Democratic National Committee earlier this year, allowing her to raise six figure checks that mainly went to the party as a whole. Harris, a former California attorney general, also overcame headwinds from a group of Biden allies who privately tried to block her from becoming the nominee for vice president.


Financial advisory firm Signum Global is already telling its clients that the choice of Harris reinforces the notion that the Democratic ticket is more moderate than progressive. Jon Henes, a partner at corporate restructuring firm Kirkland & Ellis who was Harris’ national finance chairman when she ran for president, told CNBC that the choice shows Biden’s strong judgement. He added that her supporters are ready to give Democrats the backing they need to defeat Trump. “Vice President Biden’s first decision is the perfect one and demonstrates his excellent judgement,” Henes said. “Kamala’s supporters will follow her lead and work non-stop to help Biden and Harris win this historic and critical election.”

Kamala Mnuchin

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So the party takes donations from donors that it then wants to raise new taxes on, and Cuomo fights his own party about it? A little confusing for a bear of little brain.

Cuomo Is Protecting His Wall Street Donors From Democratic Tax Bills (TMI)

In blocking his party’s push for new taxes on stock trades, capital gains and carried interest, New York Gov. Andrew Cuomo is protecting the financial industry that has delivered millions to his campaign and political operation, according to state records reviewed by TMI. That includes the single largest donor to the state Democratic party during Cuomo’s 2018 re-election bid, who just delivered large contributions to Cuomo as the governor has stymied the tax proposals. Last month, billionaire James Simons and his wife gave Cuomo $90,000. Simons is the founder of the hedge fund Renaissance Technologies, which could be subject to the new levies being pushed by New York Democratic legislators. In total, Cuomo has received over $280,000 from Simons and his family.

The Cuomo-controlled New York Democratic Party has received an additional $3.4 million from Simons. Cuomo’s political machine has received big donations from other hedge fund moguls including Dan Loeb ($197,000) and Stanley Druckenmiller ($60,800), who could also be impacted by the Democratic tax initiatives aimed at the financial industry. Democratic legislators have been pushing the tax measures to raise new revenues that they say could be used to prevent budget cuts to education, health care and other state programs. Disclosure records reviewed by TMI show that the financial industry has been actively lobbying on the tax proposals in Albany — and Cuomo has parroted their opposition to higher taxes on the rich.

“I literally talk to people all day long who are in their Hamptons house who also lived here, or in their Hudson Valley house or in their Connecticut weekend house,” the governor said on August 3, suggesting that billionaires and multimillionaires will leave New York if higher taxes on the wealthy go through. Michael Kink, the executive director of the labor-backed Strong Economy for All Coalition in New York, told TMI that Cuomo’s work to block progressive taxation is indicative of his warped priorities overall.

“A governor that’s connected to reality would be examining every single possible way of raising revenue in the time of crisis,” Kink said. “When you’re so close to someone like James Simons, that leads to you blocking the door to some of the biggest and most important sources of revenue. There’s a door called the billionaire’s tax – $5.5 billion a year. Cuomo strolls away from that door. Then there’s the stock transfer tax door which is $13 billion a year. The vast majority of people who would pay are the speculators who are diving in and out. James Simon, Dan Loeb, a lot of Cuomo’s major donors are the ones that would pay that tax.”

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What was that quote again before? Oh yes: “..this winter could be Dickensianly bleak..”

UK Enters Recession As GDP Plunges By Record 20.4% In Q2 (CNBC)

The U.K. economy contracted by 20.4% in the second quarter of 2020, compared to the previous three months, as coronavirus-induced lockdowns hammered activity, according to preliminary figures released Wednesday. GDP expanded by 8.7% in June as government lockdown measures eased, having shown a meek 1.8% recovery in May following April’s 20.4% contraction. The second-quarter plunge is the worst on record and follows a 2.2% contraction in the first quarter. Analysts had expected a fall of 20.5%, according to a Reuters poll. Two consecutive periods of contraction mean the British economy is now in a technical recession.


Services, construction and production all saw record quarterly falls, particularly in the sectors most exposed to government restrictions, according to the Office for National Statistics (ONS). “The economy began to bounce back in June with shops reopening, factories beginning to ramp up production and housebuilding continuing to recover,” ONS Deputy National Statistical for Economic Statistics Jonathan Athow said. “Despite this, GDP in June still remains a sixth below its level in February, before the virus struck.”

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Apart from RussiaRussia, the Mike Wallace interview also comes up again. Where he asks a question of Trump that he would never have (dared) ask of Obama or even George W. Why do people feel it was a proper questions to ask? I don’t feel it is. Has Trump ever before indicated he would not leave? Or is that just something people invented? Shouldn’t Wallace show respect because at least Trump showed up, something Biden still refuses to do? And if he does get Biden, will he ask that same question? Wallace has gone down in my book by a lot. Cheap clickbait stuff doesn’t become him.

WALLACE: But can you give a, can you give a direct answer you will accept the election?


TRUMP: I have to see. Look, you – I have to see. No, I’m not going to just say yes. I’m not going to say no, and I didn’t last time either.

What If Trump Won’t Leave? (IC)

Events in Charlottesville, Lafayette Square, and Portland have shown the country that President Donald Trump is prepared to do whatever it takes to keep power, including embracing militant white supremacists and using federal troops to tear gas and arrest peaceful protesters. His noxious proposal to postpone the elections is not the real threat to democracy. He has openly declared that he may not abide by the election results in a nationally televised interview on Fox News. Trump has a lot of tools at his disposal to steal the election if he loses, many of which he’s already putting into motion. Can he be stopped? We believe that he can be, but only if most Americans are willing to put their trust in people power — rather than courts, norms, and elites — to save democracy.

The evidence of the risk we face is impossible to ignore. Trump is questioning the legitimacy of an election that will rely on mail-in ballots, even though he himself has often voted absentee. He has threatened to withhold funding from states that are trying to make it easier for people to vote, and he is undermining the U.S. Postal Service, both of which are essential, especially in a pandemic. His Republican allies around the country have been passing voter ID laws, purging voter rolls, and cutting the number of polling places in urban areas, forcing people to stand in line for hours to exercise their right to vote. This is a war on voters who lean Democratic, specifically Black people, Latinos, Asian Americans, Native Americans, naturalized immigrants, poor people, and young people. We’ve already seen in Georgia and Wisconsin how these tactics play out on Election Day.

Trump’s administration has downplayed foreign interference in the elections that benefit him. He has given succor to white nationalist groups, and the Republican Party has deputized 50,000 “poll watchers” to intimidate minority voters on Election Day. This will be the first election since 1980 during which the Republican National Committee will not be bound by a federal consent decree that prohibited “ballot security” efforts whose real purpose was to intimidate and disenfranchise minority voters. Let’s be clear: Trump and the Republicans are already trying to steal the election.

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Like everything MSM, it’s become all about opinion -because clickbait-, not news.

John Solomon Calls For Creation Of New White House ‘Press Pool’ (JTN)

Just the News Founder and Editor-in-Chief John Solomon is calling for the creation of a new White House press pool, one that would practice authentic journalism by asking “the people’s questions” rather than participating in what Solomon claims is an atmosphere of “political effect.” Solomon was speaking to Matt Margolis on the podcast John Solomon Reports. Margolis, a conservative columnist and author, argues in his latest book “Airborne” that the American media has “weaponized the coronavirus against Donald Trump.” Margolis during the podcast argued that journalists at the White House press conference are in general “trying to create a narrative” instead of “trying to get the information.”

Solomon, in response, stated that White House officials need to move toward creating “a second White House press pool” in order to “create competition” and promote authentic journalism at the executive branch. The White House Correspondents Association “has had a monopoly on [the White House briefing room] for so long,” Solomon said, stating that the WHCA has engaged in effective censorship by the way it conducts press briefings. “They don’t ask the people’s questions anymore,” Solomon said, arguing that journalists are more likely now to ask “grandstanding” questions that fail to elicit useful information.

[..] Solomon, the former Washington assistant bureau chief for the Associated Press, said: “I almost never expressed an opinion. But since it’s a professional opinion about the state of the news media, it is time for this White House to create a pool.” “If done right,” Solomon added, “you can bring some real news every day, get the American people what they need to know. Instead, we get a lot of late night comedy skits out of it. It’s terrible.”

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Where’s the Special Counsel for this?

New Memos Show Relentless Pressure By Burisma On State Dept In 2016 (JTN)

The Ukrainian natural gas firm that appointed Vice President Joe Biden’s son Hunter to a lucrative board seat relentlessly pressured the State Department throughout the 2016 election in an effort to get corruption allegations against it dropped and its badly damaged reputation rehabilitated, newly released government memos show. “They keep trying through every channel they can,” a State Department official lamented in summer 2016, describing a nonstop lobbying campaign by Burisma Holdings and its American representatives. The memos, released to Just the News under a Freedom of Information Act lawsuit assisted by the Southeastern Foundation, add new significance to a long-running Senate investigation into the Bidens’ activities and perceived conflicts of interest in Ukraine.

For instance, they show far more contact between Burisma and the U.S. embassy in Kiev than was acknowledged by witnesses during President Trump’s impeachment proceedings earlier this year. One issue in that trial was the more than $3 million Hunter Biden’s firm collected from Burisma while his father supervised Ukraine policy for President Obama. The memos obtained by Just the News also were withheld from Senate investigators, who learned of their existence from the FOIA lawsuit. “We have been so frustrated in our attempt to get the documentation that we need before we can sit down and interview people, and as I understand it, the documents you just obtained in your FOIA request we haven’t received unbelievably,” Senate Homeland Security and Governmental Affairs Committee Chairman Ron Johnson said in an interview with the John Solomon Reports podcast.

“I cannot tell you how frustrated and ticked off, I’ll use that word, ticked off about where we are here. So yeah, I subpoenaed the FBI. And, you know, expect additional subpoenas to be forthcoming,” Johnson (R-Wisc.) added. Asked whether a subpoena to Secretary of State Mike Pompeo might be forthcoming, Johnson answered, “Well, certainly a subpoena would bring it to his attention.” The memos show Burisma’s lobbying efforts were led by a Democratic firm called Blue Star Strategies and aided by the nonprofit Atlantic Council foreign policy think tank, stretching from the State Department’s executive suite in Washington at the start of the election to the U.S. embassy in Kiev in the waning days of the Obama administration.

Burisma representatives repeatedly pressed for meetings, at times invoking Hunter Biden’s name, starting with a Blue Star conversation with then-Undersecretary of State Catherine Novelli in January 2016 before turning their attention to U.S. diplomats on the ground in Kiev, the memos show. By summer 2016 — their mission to clear Burisma’s name still incomplete — Blue Star officials pigeonholed the new U.S. ambassador to Ukraine, Marie Yovanovitch, during her Senate confirmation hearing and then attended a private reception where she was honored, according to the memos. State officials at times chafed at the Burisma campaign, concerned Hunter Biden’s role at the gas firm was undercutting his father’s anti-corruption efforts in Ukraine, according to the memos and interviews.

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A reminder of the future. I’m discussing with the people of the kitchen here in Athens about what we can and should expect going forward. Already demand is rising, but how much more will come?

Food Bank Strains Emerge As Economy Falls Off Fiscal Cliff (ZH)

The latest economic data suggest the US recovery stalled. One look at the Citi US econ surprise index, as of this week, shows the recovery ran out of steam last month. A fiscal cliff is already underway, set to enter the second week on Friday (Aug. 14) as tens of millions of Americans are unemployed and have yet to receive their stimulus checks. The recovery, so far, is a massive economic sugar rush, entirely a function of the Trump administration on a reckless spending spree. One way the administration can artificially supercharge consumption is through issuing direct transfer payments to the working poor. The extra money has been used by households to pay down credit card bills, put food on the table, and pay housing expenses, while others used the free money to buy automobiles and FANG stocks.

[..] Massive federal spending has transformed America into a welfare state under the GOP watch. Tea Party politicians aren’t pleased with the Republican establishment’s wild spending spree. With a fiscal cliff coming up on the second week, tens of millions of folks are unable to consume because they are insolvent and jobless, and their amount of consumption is dependent on the government. We’ve noted before, a quarter of all household income is derived from the government. And with no stimulus checks in the mail, that means Americans are returning to food banks: Claudia Raymer, who manages a network of food-security groups in Ohio County, West Virginia, told Bloomberg when stimulus checks stopped arriving in late July, there was an immediate impact on households, resulting in rising food bank activity among the working poor.

The fiscal cliff will be more damaging in lower-income communities (than major metros), such as small towns in West Virginia, where folks were being paid handsomely by the federal government to sit at home. The problem is, once the payments end, consumption plunges, and the local communities return to a recessionary environment. With federal aid already running out for the stimulus program, the fiscal cliff has already been realized in West Virginia: “We’ve definitely already seen food-security needs increase, just in a week, since the extra unemployment has ended,” Raymer said.

Read more …

 

 

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Flynn closing argument Sidney Powell

 

 

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Aug 082020
 


Alfred Palmer Annette del Sur in salvage campaign, Douglas Aircraft Co., Long Beach, CA 1942

 

55% Of COVID Patients Still Have Neurological Problems 3 Months Later (MW)
US Intel: China Opposes Trump Reelection; Russia Works Against Biden (NPR)
US Officials Now Worry About Election Logistics More Than Hacking (R.)
Trump Tees Up Executive Orders On Economy But Won’t Sign Yet (Hill)
Can An Airline Put You On A No-Fly List For Refusing To Mask Up? (NPR)
The WeChat Ban (China Collection)
China Allows First Commercial Bank To Go Bankrupt (Xinhua)
Democratic Convention Lineup To Include AOC, Clinton, Warren (Hill)
Dems VP Candidate Susan Rice Made a Lot of Money in Fossil Fuels (Jacobin)
Billionaires That Donated to Gates-Buffet Pledge Now Richer Than Ever (MPN)
Things Going By (Jim Kunstler)
Your Bones Are Made Out of Exploded Stars (Fut.)
Dow Skyrockets After Coronavirus Begins Trading On NYSE (Onion)

 

 

US “intelligence” is at it again. Russia, China, Iran are all spying, but they take care of us. Now fork over more money for your security. Has there ever been a bigger scam in history?

 

 

Can we get those numbers down please?! All of them!

 

 

 

 

 

 

 

 

 

 

 

 

At first I thought this was a parody account.

Adam, we’re stil waiting for all the evidence you said you had time and again of collusion. Why not show us that and then after maybe open your mouth again. It’s to do with credibility.

 

 

What happens when a large segment of them have this for life? What are the costs to them, to society, and to the health care system?

55% Of COVID Patients Still Have Neurological Problems 3 Months Later (MW)

Could the coronavirus lead to chronic illness? While lung scarring, heart and kidney damage may result from COVID-19, doctors and researchers are starting to clock the potential long-term impact of the virus on the brain also. Younger COVID-19 patients who were otherwise healthy are suffering blood clots and strokes. And many “long-haulers,” or COVID-19 patients who have continued showing symptoms for months after the initial infection passed, report neurological problems such as confusion and difficulty concentrating (or brain fog), as well as headaches, extreme fatigue, mood changes, insomnia and loss of taste and/or smell.= Indeed, the CDC recently warned that it takes longer to recover from COVID-19 than the 10- to 14-day quarantine window that has been touted throughout the pandemic.

In fact, one in five young adults under 34 was not back to their usual health up to three weeks after testing positive. And 35% of surveyed U.S. adults overall had not returned to their normal state of health when interviewed two to three weeks after testing. Now a study of 60 COVID-19 patients published in Lancet this week finds that 55% of them were still displaying such neurological symptoms during follow-up visits three months later. And when doctors compared brain scans of these 60 COVID patients with those of a control group who had not been infected, they found that the brains of the COVID patients showed structural changes that correlated with memory loss and smell loss.

And that’s not exclusive to adults. A case study published in JAMA Neurology in June highlighted four U.K. children with multisystem inflammatory syndrome, a severe and potentially fatal condition that appears to be linked to COVID-19. These children developed neurological manifestations such as headaches, muscle weakness, confusion and disorientation. While two of the kids recovered, the other two continued to show symptoms, including muscle weakness so severe that they needed a wheelchair.

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The US pays huge salaries to its various intelligence agencies so they can make up stories from whole cloth that can then be used to argue that we must spend more money on intelligence.

This is so incredibly vapid it’s hard to see why people don’t tell them to stick it where the sun don’t shine.

“2020 will be the most protected and most secure election in modern history…” Yeah, just not from you…

US Intel: China Opposes Trump Reelection; Russia Works Against Biden (NPR)

The top counterintelligence official in the U.S. government warned Friday of ongoing interference and influence efforts by China, Russia and Iran. William Evanina, who leads the National Counterintelligence and Security Center, said that the U.S. government has assessed that China prefers President Trump losing the election, because Beijing considers him “unpredictable,” while Russia is working to undermine Democrat Joe Biden. “Ahead of the 2020 U.S. elections, foreign states will continue to use covert and overt influence measures in their attempts to sway U.S. voters’ preferences and perspectives, shift U.S. policies, increase discord in the United States, and undermine the American people’s confidence in our democratic process,” Evanina said.

In discussing tactics, Evanina noted that the countries could try to compromise election equipment either to affect results or give the illusion of tampered results, but he did not say that such activities have been observed. China has grown more aggressive in recent months, criticizing the U.S. response to the coronavirus, although Evanina noted that Beijing continues to weigh the “risks and benefits of aggressive action” when it comes to influencing the election. Russia, however, has been observed using a number of tactics, including spreading propaganda on social media and Russian television, to denigrate Biden, the former vice president and presumptive Democratic nominee.

Iran also seeks to spread disinformation online, with the intent to undermine U.S. institutions and Trump, and to divide the country ahead of the election, according to Evanina. The statement did not refer to any specific cyberattack attempts on the part of any of the three countries in the style of Russia in 2016. And Evanina noted that it would be difficult, due to the disparate nature of America’s election infrastructure, to affect vote tallying at scale. Similarly, Chris Krebs, the Department of Homeland Security’s top cybersecurity official, said in a speech this week that his team had seen “nothing at the directed, focused level of 2016.” The year “2020 will be the most protected and most secure election in modern history,” Krebs said.

In a joint statement, Rep. Adam Schiff, D-Calif., who leads the House Intelligence Committee, and House Speaker Nancy Pelosi, said the disclosure was a good step toward more transparency, but they expressed frustration at how Evanina lumped the countries’ actions together. Instead, the lawmakers said, intelligence officials should share more specific information to “allow voters to appraise for themselves the respective threats posed by these foreign actors, and distinguish these actors’ different and unequal aims, current actions, and capabilities.” “Unfortunately, today’s statement still treats three actors of differing intent and capability as equal threats to our democratic elections,” the lawmakers said.

In a statement, Tim Murtaugh, a spokesman for the president’s reelection campaign, said: “We don’t need or want foreign interference, and President Trump will beat Joe Biden fair and square.” In a separate statement, Tony Blinken, a senior adviser to the Biden campaign, said: “Joe Biden … has led the fight against foreign interference for years, and has refused to accept any foreign materials intended to help him in this election — something that Donald Trump and his campaign have repeatedly failed to do.”

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More pushing for mail-in ballots.

US Officials Now Worry About Election Logistics More Than Hacking (R.)

In a reversal from a few years ago, many officials who oversee U.S. election technology and outside security experts now worry less about hacking in the November elections than about misinformation and logistics such as a shortage of poll workers and slowdowns at the U.S. postal service. Though most computerized voting systems can be hacked, some undetectably, more states have moved away from paperless balloting and more vendors are listening to warnings about software flaws, longtime specialists told the annual Black Hat and Def Con security conferences this week. “We finally know how to do this well,” Georgetown University professor Matt Blaze said in a keynote at Black Hat, held online this year because of the pandemic.

In addition, the sheer number of jurisdictions and varied versions of software would make fraud with a national impact impractical, officials said. On Friday, the U.S. head of counterintelligence, William Evanina, said publicly that while Russia, China and Iran might all act to interfere in the election, substantial vote changes were a low risk. U.S. Senator Ron Wyden, an Oregon Democrat who sits on the intelligence committee, said at Def Con he remained concerned about electronic pollbooks that could malfunction and internet voting by armed forces overseas. But Blaze and others said they were mainly worried that many localities do not have enough funding for election-day workers to handle in-person votes under pandemic conditions, with possible protests and disruptions, at the same time as they plan for a record number of mailed ballots.

Christopher Krebs, director of the Cybersecurity and Infrastructure Security Agency, said people should vote as early as possible and prepare for delayed election results. Any delay is likely to be fertile ground for misinformation both foreign and domestic, others warned. A Def Con panel including Kimber Dowsett, director of security engineering at Truss, said instead of flagging new voting machine flaws to an already cynical public, researchers should talk to Krebs’ agency and the vendors and hope for the best.

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There will be no agreement.

Trump Tees Up Executive Orders On Economy But Won’t Sign Yet (Hill)

President Trump said Friday that he is prepared to act unilaterally to reinstate expanded unemployment benefits and suspend the payroll tax due to the coronavirus, but signaled he wouldn’t do so immediately. Trump told reporters that his administration is working “in good faith” to reach an agreement on the next stimulus package with Democratic leaders, before lambasting House Speaker Nancy Pelosi (D-Calif.) and Senate Minority Leader Charles Schumer (D-N.Y.) for seeking funding for states and cities that he said have been mismanaged by Democratic politicians. “If Democrats continue to hold this critical relief hostage, I will act under my authority as president to get Americans the relief they need,” Trump said during a hastily scheduled news conference at his golf club in Bedminster, N.J., on Friday evening.


Trump said he is prepared to take four actions without Congress: defer the payroll tax until the end of the year; enhance unemployment benefits until the end of the year; defer student loan payments and forgive interest indefinitely; and reinstate a federal moratorium on evictions. Asked for a timeline, Trump said he could act as soon as the end of the week. The president also insisted he has the legal authority to take the actions unilaterally, despite doubts about his ability to do so. Trump also acknowledged that the moves were likely to invite legal challenges. “You always get sued,” Trump said. “We’ll probably get sued.”

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Yes, they’re private companies. You buy a ticket under their conditions.

Can An Airline Put You On A No-Fly List For Refusing To Mask Up? (NPR)

Early this week, Delta Air Lines made news after a plane headed to Atlanta circled back to its gate in Detroit, delaying takeoff. The crew was returning to expel two passengers who had been unwilling to follow a new but quintessential coronavirus rule. They had refused to don masks. That transgression is the latest addition to a bevy of infractions that can get you booted from an aircraft — even before contagion racked our world. Those no-nos vary wildly in severity and how often they’re enforced, but the theoretical gamut is wide: from a joke about, say, hijacking, to smoking a cigarette … all the way to more serious acts like transporting illegal contraband like guns or drugs.

[..] When it comes to the new rules for the novel coronavirus, airlines like Delta are taking them very seriously. So far, the carrier has banned 100 anti-maskers from taking their flights and gone a step further by adding them to a “no fly” list. Delta says its strict policies about masking are part of an effort to promote best public health practices and safety amid the pandemic. In a statement provided to NPR, Delta wrote: “Medical research tells us that wearing a mask is one of the most effective ways to reduce the COVID-19 infection rate.” The airline “remains committed to requiring customers and employees to wear a mask or face covering as a consistent layer of protection across all Delta touchpoints.”

And it’s not just Delta. All major U.S. airlines now require passengers to wear face coverings — a dramatic change to plane etiquette. Children under age 2 and slightly older children who cannot maintain a face covering are exempt from the requirement on Delta and other airlines. Adults are generally permitted to remove a mask only when eating or drinking, though policy varies. Though the scientific consensus is clear and strong that masks are critical in stemming the spread of the virus, some consumers feel aggrieved by what they consider an attack on personal freedom. But according to aviation, health and legal experts, such outrage ignores a few fundamentals: In entering into agreements (read: contracts) with airline carriers (by purchasing a ticket), you’re required to adhere to their policies. And that pretty much ends the matter.

In other words, Delta’s no-fly list is perfectly within its scope of rights, experts stress. The legal reasoning is pretty straightforward, says Sharona Hoffman, co-director of Case Western Reserve University’s Law-Medicine Center. She puts it simply: “They’re a private business, and private businesses can have rules.”

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What I said yesterday, but in more words.

The WeChat Ban (China Collection)

The ban on WeChat will not cut people in the US off from their friends and family in China. They communicated before WeChat existed and will continue to do so if it’s banned. There are many quite serviceable alternatives. And who exactly is bigger in the banning business, anyway? I’m seeing a lot of what seem to me to be overwrought reactions to the WeChat ban on my Twitter feed. For example, when the ban was first mooted by Pompeo, Stuart Lau of the South China Morning Post tweeted that if it went through, “countless Chinese people who live in the US could be cut off from their friends and families in China, where WhatsApp or Facebook Messenger is banned.” Two points:

First, can we please remember that before WeChat existed, people somehow managed to communicate between the US and China, and it wasn’t difficult? At this very moment, there are a number of ways that it can be done: telephone calls, text messages, email, WhatsApp, Signal, and let’s not forget QQ, another TenCent app that does basically everything WeChat does in terms of communication, and used to be widely used in China before it was supplanted by WeChat. So before you tell me that people won’t be able to communicate with friends and family in China any more, you need to explain (a) why what they did before WeChat won’t work any more, and (b) why none of the communications methods I’ve mentioned above won’t work any more. I get that WeChat has many convenient functions and a great interface that people like. That’s why it’s been so successful. But come on, people: the idea that banning it cuts off communication between people in the US and China is silly.

Second, let’s suppose for the sake of argument (but only for the sake of argument) that banning WeChat did indeed seriously impinge on the ability of people to communicate between the US and China. Where does the fault lie, causally speaking? To figure that out we need to ask why alternatives are not available, and who is responsible for that. Two alternatives are (as the Stuart Lau post notes) Whats App and Facebook Messenger. There is also Line, a communications app that is widely used in Japan and Taiwan, with over 700 million users worldwide by 2017, according to the Wikipedia entry. But they are all banned in China. So it is a bit hard to say that it is the ban on WeChat that is making communications difficult. The Chinese government is the one that is actively in the banning business, and they’ve got a big head start on the Trump administration.

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Amidst the first (re-appearing) rumors of dollar shortages in the country.

China Allows First Commercial Bank To Go Bankrupt (Xinhua)

China’s central bank has announced that the disposal of risks concerning the troubled Baoshang Bank will be completed soon, and the bank will file for bankruptcy. Equity and unsecured claims from its original shareholders will be liquidated by law, according to a report released by the People’s Bank of China (PBOC) on Thursday. The PBOC and the China Banking and Insurance Regulatory Commission took over the Inner Mongolia-based commercial bank in May last year due to its “serious credit risks.”


With capital from deposit insurance funds and the PBOC, principal and interest on personal savings deposits, and those of most institutional creditors, are guaranteed the full amount, while large corporate deposits are guaranteed an average level of 90 percent, the report said. After the takeover, the PBOC arranged for 23.5 billion yuan (about 3.39 billion U.S. dollars) in a standing lending facility (SLF) quota for Baoshang Bank on the premise of enough high-quality collateral.

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Apart from AOC, it’s the same old same old crowd that lost bigly in 2016. Most of them are way past retirement age in any other job. But the lust for power is eternal.

And who do you think they’re going to talk about most?

Democratic Convention Lineup To Include AOC, Clinton, Warren (Hill)

The speaking lineup for this month’s Democratic National Convention is beginning to take form, with several high-profile Democrats securing spots. Rep. Alexandria Ocasio-Cortez (D-N.Y.), a progressive superstar, is expected to have some sort of speaking slot, a House member told Politico, and Sen. Elizabeth Warren (D-Mass.) and 2016 presidential nominee Hillary Clinton will also speak, according to Axios. Warren and Clinton are reportedly slated to speak on Aug. 19, the day before former Vice President Joe Biden will formally accept the 2020 Democratic nomination. Other Democrats expected to have speaking slots are Biden’s wife, Jill Biden, Speaker Nancy Pelosi (D-Calif.), Sen. Kamala Harris (D-Calif.) and Barack and Michelle Obama.


Both Warren and Harris are known to be on Biden’s shortlist to be his running mate. Neither the Democratic National Committee nor the convention immediately responded to requests for comment from The Hill. The convention has largely been relegated to digital events so participants can observe social distancing and other health guidance during the ongoing coronavirus pandemic. Biden was originally slated to deliver his acceptance speech from Milwaukee, but will now do so virtually from Delaware, his home state.

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Just another multi-millionaire who raked in fortunes while providing “public service”.

Dems VP Candidate Susan Rice Made a Lot of Money in Fossil Fuels (Jacobin)

Former national security adviser Susan Rice, reportedly one of two finalists in Joe Biden’s vice presidential search, had millions invested in fossil fuels and energy companies as recently as 2015. The revelations come as Biden has faced renewed questions about his commitment to environmental policies that would combat climate change. A financial disclosure form obtained by Too Much Information reveals that Rice had investments in at least five such companies, including as much as $100,000 in TransCanada, which is behind the controversial Keystone XL pipeline. Rice also had over $1 million invested in pipeline firm Enbridge as well as more than $2 million split between fossil fuel companies Cenovus, Encana, and Imperial Oil — all companies with significant involvement in developing the tar sands of Alberta.

The investments netted as much as $237,000 in dividends that year. In addition, Rice reported significant holdings in Canadian banks which fund pipeline projects, according to the disclosure. A veteran of multiple Democratic administrations, Rice has a traditionally impressive resume on paper. She worked as a consultant for McKinsey & Co. before serving as assistant secretary of state for African affairs under Bill Clinton, UN ambassador under Barack Obama, and national security adviser. But her record has made her a controversial candidate for VP. Pledged delegates for Vermont Sen. Bernie Sanders have urged Biden to avoid naming her to the ticket, and have also urged him to remove a number of other foreign policy hawks from his team. Among other things, the delegates cited her past support for military intervention in Iraq, Libya, and Syria.

On Friday, environmental advocates criticized Rice’s past fossil fuel investments in a Politico report. In 2012, when Rice was a candidate to succeed Hillary Clinton as secretary of state, environmentalists took aim at her for the holdings, even circulating a petition urging Obama not to select her. Even then, Rice, whose net worth with her husband was estimated to be between $23.5 million and $43.5 million, had significant investments in Canadian energy interests, including as much as $600,000 in TransCanada. She also owned stock in Enbridge, Encana, Cenovus, and Suncor, along with other fossil fuel companies like Chesapeake Energy, Devon Energy, Royal Dutch Shell, Iberdrola, ATP Oil & Gas Corp., and energy utility TransAlta. Rice would hardly be the first person with fossil fuel ties that Biden has brought onboard this cycle. Biden’s climate adviser, Heather Zichal, previously served on the board of a natural gas company, Cheniere Energy.

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Have you ever trusted a billionaire? They only get so rich by wanting ever more money. That doesn’t stop all of a sudden.

Billionaires That Donated to Gates-Buffet Pledge Now Richer Than Ever (MPN)

A study released by the Institute for Policy Studies (IPS) through its Program on Inequality and the Common Good, titled “Gilded Giving 2020: How Wealth Inequality Distorts Philanthropy and Imperils Democracy” examines the reality behind the ostensible charitableness of the billionaire donor class and the disturbing trend of charitable organizations and foundations relying more and more on fewer and fewer wealthy donors; funds which “end up in family foundations and donor-advised funds that could legally exist in perpetuity,” while donations from lower and middle-income sources are disappearing. In particular, the paper looks at The Giving Pledge initiative started in 2010 by a few dozen U.S. billionaires and led by Bill Gates and Warren Buffet.


The professed goal of the initiative was to have the wealthiest people in the world pledge to give at least half of their fortunes away to charitable causes before their death. The study found that contrary to the stated purpose of the philanthropic commitment of the organization, a full 75 percent of participants have actually increased their net worth in the ten years since they made their charitable vow. More concerning is the finding that a growing share of “high-end” donations never ends up in organizations that do any kind of altruistic work. Rather, they go to tax-privileged private foundations designed to serve as tax shelters for the very wealthy, which then only disburse a small percentage of their assets to charitable non-profits; a particularly galling fact considering how much more wealthy the one-percenters have gotten over the course of the pandemic in contrast to the 54 million Americans who’ve filed for unemployment in that same span of time.

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“[..] who needs an online class in Contemporary Sexual Transgression ($2000-a-credit) when you can just click on Porn-hub for free?

Localize!

Things Going By (Jim Kunstler)

Higher education committed suicide with its dual racketeering model. First was the college loan racket, in which schools colluded with the federal government to jam too many “customers” through the pipeline who didn’t belong there, and who buried themselves under a lifetime debt obligation they could never escape. The second was the intellectual racket of creating sham fields of study that contaminated all the other “humanities” with poisonous bullshit theory, and eventually even invaded the STEM disciplines. Covid-19 screwed the pooch on all that, scotching the four-year party-hearty in-residence part of the deal. For now, who needs an online class in Contemporary Sexual Transgression ($2000-a-credit) when you can just click on Porn-hub for free? Hundreds of colleges and universities will be going out of business in the years ahead.

The outlook for the big centralized high schools is also pretty dark. The teachers’ unions’ insatiable needs are only part of the picture. Consolidating many smaller schools to save on administrative costs seemed like a good idea at the time. But we ended up with thousands of gigantic schools that looked like insecticide factories and felt like minimum security prisons. They all depend on the costly yellow bus fleets to collect the kids from far and wide. The whole scheme ended up as an elaborate day-care operation that actually retarded the development of young people into functional, autonomous adults.

Covid-19 and the economic collapse it triggered will put an end to all that. How will the school districts cope with an epic loss of tax revenue from all the homeowners defaulting on their mortgages? They won’t. Schooling will have to reorganize, and probably at a very grassroots level, with home-schools evolving into neighbor-pods of tiny schools, and only among parents who have the literacy and numeracy to pull it off. We’ll be lucky if, years from now, we’ll see something like local academies spring up that can handle a few hundred students. I’d also warn you about assuming that the Internet is a permanent installation of the human condition. It depends utterly on a pretty fragile electric grid. We do, after all, have libraries, and maybe they can be persuaded to stop trying to get rid of all their books.

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Didn’t we already know we’re stardust? That some of it is calcium makes a lot of sense.

Your Bones Are Made Out of Exploded Stars (Fut.)

According to new research, half the calcium in our universe came from “calcium-rich supernova.” That means the stuff our teeth and bones is made from is, essentially, the remains of dead stars that blew up a long, long time ago. “These events are so few in number that we have never known what produced calcium-rich supernova,” said Wynn Jacobson-Galan, Northwestern graduate student and lead author of the new study published in The Astrophysical Journal this week, in a statement. “By observing what this star did in its final month before it reached its critical, tumultuous end, we peered into a place previously unexplored, opening new avenues of study within transient science,” Jacobson-Galan added.

An extremely bright event some 55 million light years from Earth grabbed the attention of the international astronomy community in April 2019. “Every single country with a prominent telescope turned to look at this object,” Jacobson-Galan recalled. Astronomers were so quick that many observed the supernova just ten hours after the explosion. “The explosion is trying to cool down,” Raffaella Margutti from Northwestern University and a senior author of the study, explained in the statement. “It wants to give away its energy, and calcium emission is an efficient way to do that.” As it turns out the explosion spewed out an immense amount of calcium. “It wasn’t just calcium rich,” Margutti said. “It was the richest of the rich.”

They caught the event just in time to conclude that it was the most calcium to have ever been observed to be emitted from just a single event. “The luminosity tells us how much material the star shed and how close that material was to the star,” Jacobson-Galan explained. “In this case, the star lost a very small amount of material right before it exploded. That material was still nearby.”

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“This is an unusually strong stock, and we are predicting it will see at least six months of straight gains, probably more.”

Dow Skyrockets After Coronavirus Begins Trading On NY Stock Exchange (Onion)

With investors highly bullish about the long-term prospects of the respiratory virus, market reports confirmed Friday the Dow Jones Industrial Average skyrocketed nearly 400 points after the novel coronavirus began trading on the New York Stock Exchange. “Following its initial public offering, this coronavirus has become the hot new thing on Wall Street, and you can bet everyone will be getting a piece of it soon if they haven’t already,” said Darya Abbas, an analyst at Zacks Investment Research, observing that the SARS-CoV-2 virus, which is listed under the ticker symbol COV, traded at incredibly high volumes throughout the day. “This is an unusually strong stock, and we are predicting it will see at least six months of straight gains, probably more. Not since the original SARS in 2003 have we seen an airborne pathogen with such massive growth potential.” At press time, the coronavirus was reportedly in talks to take part in a major merger with Johnson & Johnson.

Read more …

 

 

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Speed reading

 

 

 

 

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Jul 262020
 
 July 26, 2020  Posted by at 9:35 am Finance Tagged with: , , , , , , , ,  9 Responses »


Dorothea Lange Youngest little girl of motherless family, Toppenish, Yakima Valley WA 1939

 

The Key To Defeating COVID19 Already Exists. We Need To Start Using It (NW)
Over 40% Of US Adults Are Susceptible To Severe COVID-19 (ZH)
UK Quarantines Travellers From Spain In Sudden Blow To Europe’s Revival (R.)
Australia Reports Jump In Daily New Cases, Record Deaths (R.)
US Renters Brace For Evictions As Moratorium Ends (Pol.)
Mass Evictions Set To Begin – Communities Of Color To Be Hardest Hit (F.)
A Record 170 Tons Of Physical Gold Were Just Delivered On The COMEX (JN)
49% of Voters Believe Kremlin Interfered In Brexit Referendum (O.)
How Our Spies Missed Russian Bid To Sway Brexit (G.)
Dozens Gather In MAGA Hats In Hopes Washington Post Will Defame Them (BBee)

 

 

I’d like to pay more attention to the spreading protests/riots in the US, but I find it’s very hard to find anything neutral. Who are the bad guys and who the good guys entirely depends on your news source. And then you have opinion, not news. Lots of videos of violence perpetrated by both sides. I don’t like the use of the term stormtroopers, because that’s straight out of nazi Germany. Which is not where we are, though I know, some people would say it is.

 

 

It’s Sunday, so no new records. Just persistently high numbers. Flare-ups in Melbourne, Hong Kong, EU countries. South Africa is getting bad.

 

 

 

 

 

 

 

 

 

 

 

 

Yes, HCQ. From a professor of epidemiology at Yale. Sometimes it feels like HCQ has its own private cancel culture.

The Key To Defeating COVID19 Already Exists. We Need To Start Using It (NW)

As professor of epidemiology at Yale School of Public Health, I have authored over 300 peer-reviewed publications and currently hold senior positions on the editorial boards of several leading journals. I am usually accustomed to advocating for positions within the mainstream of medicine, so have been flummoxed to find that, in the midst of a crisis, I am fighting for a treatment that the data fully support but which, for reasons having nothing to do with a correct understanding of the science, has been pushed to the sidelines. As a result, tens of thousands of patients with COVID-19 are dying unnecessarily. Fortunately, the situation can be reversed easily and quickly.

I am referring, of course, to the medication hydroxychloroquine. When this inexpensive oral medication is given very early in the course of illness, before the virus has had time to multiply beyond control, it has shown to be highly effective, especially when given in combination with the antibiotics azithromycin or doxycycline and the nutritional supplement zinc. On May 27, I published an article in the American Journal of Epidemiology (AJE) entitled, “Early Outpatient Treatment of Symptomatic, High-Risk COVID-19 Patients that Should be Ramped-Up Immediately as Key to the Pandemic Crisis.” That article, published in the world’s leading epidemiology journal, analyzed five studies, demonstrating clear-cut and significant benefits to treated patients, plus other very large studies that showed the medication safety.

Physicians who have been using these medications in the face of widespread skepticism have been truly heroic. They have done what the science shows is best for their patients, often at great personal risk. I myself know of two doctors who have saved the lives of hundreds of patients with these medications, but are now fighting state medical boards to save their licenses and reputations. The cases against them are completely without scientific merit. Since publication of my May 27 article, seven more studies have demonstrated similar benefit. In a lengthy follow-up letter, also published by AJE, I discuss these seven studies and renew my call for the immediate early use of hydroxychloroquine in high-risk patients.

These seven studies include: an additional 400 high-risk patients treated by Dr. Vladimir Zelenko, with zero deaths; four studies totaling almost 500 high-risk patients treated in nursing homes and clinics across the U.S., with no deaths; a controlled trial of more than 700 high-risk patients in Brazil, with significantly reduced risk of hospitalization and two deaths among 334 patients treated with hydroxychloroquine; and another study of 398 matched patients in France, also with significantly reduced hospitalization risk. Since my letter was published, even more doctors have reported to me their completely successful use.

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How about you close McDonald’s permanently?

Over 40% Of US Adults Are Susceptible To Severe COVID-19 (ZH)

Several studies have found that the risk of contracting severe Covid-19 that can result in hospitalization, ICU admission, mechanical ventilation or death increases with age as well as the presence of underlying health conditions. In the United States, the Centers for Disease Control and Prevention (CDC) recently released a study showing that a considerable share of the American population has some form of underlying health issue, which, as Statista’s Niall McCarthy details below, places them at risk from severe forms of the virus. The study’s findings are based on the 2018 Behavioural Risk Factor Surveillance System (BRFSS) and U.S. Census population data and it determined that 40.7 percent of U.S. adults (aged 18 and over) have a pre-existing health condition.

The most prevalent condition in the study is obesity, affecting just over 30 percent of Americans and it followed by diabetes which has a national prevalence of 11.2 percent. Chronic obstructive pulmonary disease (COPD) and cardiovascular disease have a prevalence of just under 7 percent while chronic kidney disease is at approximately 3 percent. The CDC stated that “while the estimated number of persons with any underlying medical condition was higher in population-dense metropolitan areas, overall prevalence was higher in rural nonmetropolitan areas.” It also added that “the counties with the highest prevalences of any condition were concentrated in Southeastern states, particularly in Alabama, Arkansas, Kentucky, Louisiana, Mississippi, Tennessee, and West Virginia, as well as some counties in Oklahoma, South Dakota, Texas, and northern Michigan, among others”.

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Several EU countries have new flare-ups. Second Wave? I don’t think so. Just the effect of loosening restrictions, and people thinking it’s all over.

UK Quarantines Travellers From Spain In Sudden Blow To Europe’s Revival (R.)

Britain abruptly imposed a two-week quarantine on all travellers arriving from Spain after a surge of coronavirus cases, a dramatic and sudden reversal on Saturday to the opening of the European continent to tourism after months of lockdown. The quarantine requirement was due to take effect from midnight (2300 GMT on Saturday), making it impossible for travellers to avoid it by rushing home. The British foreign ministry also announced it was recommending against all but essential travel to mainland Spain, a move likely to prompt tour operators to cancel package holidays and trigger claims against insurers.

Spain’s Canary and Balearic Islands were not covered by the advice to avoid travel to the mainland, but holidaymakers returning to Britain from the islands will still be subject to quarantine on return. Britain’s government urged employers to be “understanding” towards staff who are unable to return to their place of work for two weeks after they return from holiday. The sudden British move followed steps this week by other European countries. On Friday Norway said it would re-impose a 10-day quarantine requirement for people arriving from Spain from Saturday, while France advised people not to travel to Spain’s northeastern region of Catalonia.

But the total collapse of tourism from Britain would have far more impact. Britain accounted for more than 20% of the foreign visitors to Spain last year, the largest group by nationality. Tourism normally accounts for some 12% of Spain’s economy. Spain had been on a list of countries that the British government had said were safe for travellers to visit – meaning tourists returning home would not have to go into quarantine. The announcement of such lists just weeks ago had allowed Europe’s tourism sector to begin its revival after the near total shut-down prompted by the COVID-19 pandemic.

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Almost all Melbourne.

Australia Reports Jump In Daily New Cases, Record Deaths (R.)

Australia’s second-most populous state, Victoria, recorded 459 cases of the new coronavirus, the second-highest daily total and up from 357 cases the previous day, the state’s leader said on Sunday. Premier Daniel Andrews also told a press briefing that Victoria had reported 10 COVID-19 deaths in past 24 hours, Australia’s highest ever daily number. The state’s second wave is being driven by workplace infections, including at aged-care and healthcare facilities, big distribution centres, slaughterhouses, cold-storage facilities and warehouses, Andrews said. “What that tells you is that some people… are feeling sick, they have symptoms and they are still going to work,” he said.


“If that continues, then we will just continue to see more and more cases.” The cases were found on the day with the highest number of coronavirus tests, at more than 45,000. Australia has avoided the worst of coronavirus crisis seen in other countries, but authorities are struggling to contain an outbreak in Victoria. It has recorded more than 14,400 cases so far. Victorians are subject to a six week lockdown, border closures with other states and mandatory face mask wearing.

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I’d like to know how many “homeowners” face eviction.

US Renters Brace For Evictions As Moratorium Ends (Pol.)

Columbus, Ohio, has turned part of its convention center into an evictions court. Denver is creating a handful of designated campsites for homeless people. And Milwaukee saw a 17 percent increase in eviction filings last month after a state ban lapsed. Cities across the country are bracing for a surge of evictions as a four-month federal moratorium that has protected millions of tenants from losing their homes in the middle of the pandemic expires Friday at midnight, with no relief in sight from Congress. The ban is ending just as a federal enhancement to unemployment benefits — a $600-a-week boost that has helped many laid off tenants pay at least some of their rent — also lapses this weekend.

Estimates of the number of people who stand to lose their homes are rough, given the patchwork of state and local bans on evictions, many of which are also expiring. But they range in the millions, and a disproportionate share of them are people of color. “The wave of evictions has already begun, and now Congress needs to act to prevent it from becoming a tsunami,” said Diane Yentel, president and CEO of the National Low Income Housing Coalition. “If the federal ban is not extended, if the state and local eviction moratoriums that are scheduled to expire in the coming weeks do, and if no emergency rental assistance is provided, then from the end of August through fall, millions of Americans will be evicted from their homes,” Yentel said.

While states have imposed their own eviction moratoriums, 24 of them have already allowed the temporary bans to lapse. That leaves somewhere between 19 million and 23 million people — about one in five renters in the U.S. — at risk of eviction by the end of September if Congress fails to extend both the federal ban and supplemental unemployment benefits, according to an estimate by the Aspen Institute. The situation was dire even before both protections lapsed: Roughly 9.4 million renters have no confidence they will be able to make next month’s rent payment, according to the latest weekly survey by the Census Bureau, conducted the second week of July. Another 14.3 million have only “slight” confidence they will be able to make rent next month.

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Well, duh!

Mass Evictions Set To Begin – Communities Of Color To Be Hardest Hit (F.)

On March 27, the CARES Act was signed into law and included a moratorium through July 24 on evictions for those living in homes funded by federally backed mortgages or who rely on housing vouchers. This protection covers roughly a third of renters and expires today, putting millions of families at risk of losing their homes in the middle of an unprecedented health and unemployment crisis. Once the moratorium ends, landlords must still give renters 30 days’ notice before filing a complaint in court. Some states and cities have their own bans on evictions so renters should check with their local government if they receive notice. Over 17 million Americans are still unemployed and unable to find work, and the number of confirmed COVID-19 cases only continues to rise.


Removing families from their homes amid the surge in cases will result in even more lives being lost. According to a report by The Center for Public Integrity, communities of color are most at risk of losing their homes. This same group is also the most vulnerable to the disease because of structural conditions. One example is that Black and other people of color are more likely to be considered essential workers or work in jobs that can’t be done remotely. The disparities in the quality and access to healthcare for Black individuals has been widely documented as well. These factors mean that the expiration of the moratorium on evictions will disproportionately affect Black and brown communities, and widen the racial wealth gap.

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Interesting story. If the spread between New York and London gold is too large, it pays to fly huge gold shipments around the world.

A Record 170 Tons Of Physical Gold Were Just Delivered On The COMEX (JN)

Three elements cause physical delivery on the COMEX to have reached record highs this year: strong demand for futures in New York, a persisting spread between the price of futures in New York versus spot gold in London, and arbitrage. Physical delivery on the largest gold futures exchange in the world, the COMEX in New York, has reached all time highs this year. In June more than 170 tonnes were physically delivered (5.5 million ounces). Usually, delivery is “neglectable.” What has changed? An important change in the global gold market occurred on March 23, 2020. On that day the price of gold futures in New York started drifting higher than the price for spot gold in London. Ever since, the spread has persisted, though it continuously widens and narrows.

[..] The world’s most dominant gold spot market is the London Bullion Market, where mostly “loco London” gold is traded. Meaning the metal is physically settled within the environs of the M25 London Orbital Motorway. The most dominant gold futures market is located in New York, where metal can be physically delivered within a 150-mile radius of the City of New York. Before March 23, the price in London (spot) and the price in New York (near month futures contract) always traded in tight lockstep because of arbitrage. If, for example, the futures price would trade above spot, arbitragers would “buy spot and sell futures” until the spread was closed. Arbitragers would hold their positions—long spot, short futures—until maturity of the futures contract, because at expiry the price of the futures contract was guaranteed to converge with the spot price.

In this example we can see that strong demand in New York would be translated into spot buying in London. Worth noting is that when a futures trader rolled its position into the next month, and his initial futures buying was translated into spot buying in London by an arbitrager, on a systemic level the arbitrager would roll its position as well. Of course, the opposite happened as well. When futures traded below spot, arbitragers would “buy futures and sell spot” until the spread was closed. So far, a simplified version of the market before March 23. Since March 23 of this year, futures have persistently been trading above spot, though the spread isn’t constant. As a result, arbitragers aren’t assured the futures price in New York will converge with the spot price in London. An arbitrage trade as described above, through a position in both markets, incurs risk.

What arbitragers currently do to profit from the spread is buy spot, sell futures, fly the metal to New York, and physically deliver the gold. This is how the profit is locked in. If the spread between spot and futures is $40 per ounce, the arbitrager’s profit is $40 minus costs for transport, insurance, storage, etc. Now you can see why the persistent spread between New York and London has increased physical delivery on the COMEX through arbitrage. Conclusion: Physical delivery on the COMEX is elevated because of the current unusual situation in the global gold market. The gold delivered in New York has been imported from spot markets such as Singapore, Switzerland and Australia. U.S. imports directly from the U.K. are rare, because in London 400-ounce bars are traded and the main futures contract in New York requires smaller bars for delivery.

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Just the Guardian confirming its propaganda works in Britain.

49% of Voters Believe Kremlin Interfered In Brexit Referendum (O.)

Almost half the British public believes the Russian government interfered in the EU referendum and last year’s general election, according to a poll. The latest Opinium poll for the Observer found that 49% of voters think there was Russian interference in the Brexit referendum, with 23% disagreeing. Some 47% believed Russia interfered in the December general election. The poll findings come after the long-awaited publication of the report into Russian interference by parliament’s Intelligence and Security Committee last week. It found that the government had not attempted to investigate potential Russian interference in the referendum. It said the UK had “badly underestimated” the Russian threat.

Opinium asked people whether they thought there was any involvement from Russia in the last three general elections, the EU referendum and the Scottish referendum. For each, the public were more likely to think that the Russian government had interfered than that it had not. Two-fifths (40%) thought Russia had interfered in the 2014 Scottish independence referendum. Remainers were more likely (63%) to think that the Russian government interfered in the EU referendum than Leavers (39%). Asked about the 2019 general election, 70% of Lib Dem voters and 62% of Labour voters believed the Russian government interfered, compared with 39% of Conservative voters. However, even Conservative voters were more likely to believe that the Russian government interfered in that election (39%) than not (33%).

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And for those still not with the program, Luke Harding explains that the only possible reason no Russian interference was found is that they weren’t looking. Just like Robert Mueller.

How Our Spies Missed Russian Bid To Sway Brexit (G.)

[..] the Russia report – published last week after a 10-month delay – paints a damning picture of British spooks who were too timorous or too incompetent to do much about a growing Russian threat, or the Kremlin’s surreptitious attempt to sway the Brexit vote. Over the last four years British and Russian policy have been remarkably aligned. For Theresa May as prime minister and her successor Boris Johnson, Brexit has been about delivering the “will of the people”. From Moscow, Brexit is seen as a wild success, diminishing the UK and estranging London from its European partners. And perhaps hastening Scottish secession too. The MPs who sit on parliament’s intelligence and security committee (ISC) were incredulous at the lack of cooperation from the UK’s security agencies.


Asked about Moscow and Brexit, MI5 produced “six lines of text”, the report said. GCHQ didn’t drill down into the St Petersburg troll factory, which pumped out millions of pro-Leave messages. And MI6 failed to ask its secret agents what exactly the Kremlin was up to. Agency sources suggest such criticism is unfair. Yes, they say, MI5 has a permanent counter-intelligence mission. Its job is to keep Britain safe. Yet it also has a statutory duty to protect UK democracy. Whitehall sources last night insisted the security services fulfilled such responsibilities without political interference. Others say the security services depend on “tasking” from inside Whitehall – the Cabinet Office, the joint intelligence committee, and No 10. They have less operational freedom than the FBI in the US and they are culturally and historically reluctant to wade into politics. Plus the instructions never came.

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Babylon Bee.

Dozens Gather In MAGA Hats In Hopes Washington Post Will Defame Them (BBee)

After Nick Sandmann settled yet another nine-figure lawsuit today, dozens of people went out in MAGA hats, gathering outside The Washington Post’s offices in hopes that they too would be defamed by the newspaper. The clever entrepreneurs stood outside the paper’s headquarters wearing the pro-Trump headgear. They just stood there, not chanting or protesting or breaking anything, a protest tactic that immediately confused the liberals working at the Post. “It’s very strange — they’re not burning anything. They must not be peaceful protesters. Nonetheless, we will not be fooled by this tactic,” said a WaPo editor. “We will be able to resist the urge to commit libel against these deplora–I mean, these ordinary Americans.” At publishing time, The Washington Post had written defamatory articles about all of them. They are all preparing to retire comfortably.

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Jul 172020
 


Fred Stein Evening, Paris 1934

 

Welcome To The End Game (F.)
Immune Response To Coronavirus Could Be a Matter of Life And Death (SCMP)
My Patient Caught COVID19 Twice. So Long To Herd Immunity Hopes? (Vox)
My Hydroxychloroquine Deep Dive (GB)
A Mask Cuts Your COVID-19 Risk By 65% (WEF)
Georgia Hospital Worker Sounds Alarm (NPR)
Unemployment Increase Set To End As Jobless Claims Climb (NYP)
Key US Lawmakers Back Unions’ Call For New Airline Bailout (R.)
AG Barr: US Companies Kowtow To China (JTN)
So Much Money, So Little Time To Find Deal At EU Summit (AP)
Russia Rejects UK’s Claims Of Hacking & Election Meddling (RT)

 

 

Let’s go break some records, shall we?

 

 

 

 

 

 

 

 

 

 

Second wave watch: Israel, Japan, Australia, Hong Kong

Taleb

 

 

 

 

“It won’t be hard to see it coming because if the Nasdaq goes vertical it will be hard to miss.”

Welcome To The End Game (F.)

If this chart doesn’t make you think the crash is coming soon, then probably nothing will: The Nasdaq is on its final run and is going vertical, a classic end of bubble move. This is trader heaven and turns into speculator hell for those who think that markets do grow to the skies. It could go up a long way in price but it won’t go for long in time. It could last to Christmas, it could fold tomorrow, but my feeling is that unless this bubble is cut down by the Fed, the final move will be large and quick. You can refer to the dotcom crash for the general shape of what looks possible next.

The attempts by the government to pump up the economy with new money is resulting in it going straight into equities and straight into the tip of the equity spear, the giant high beta story stocks. This is a malfunction of the QE mechanism that supports asset prices and slowly trickles the benefits of this support down the pyramid of wealth. Now the game is up because the new money is going straight into this bubble of financial assets that are spiralling up out of control. If we now get a Nasdaq bull vertical that is the end of the chapter of the process, it will be followed by a devastating crash as everyone dashes to the exit in a blaze of wealth destruction.


The Federal Reserve needs to get a lid on this fast and it appears to be trying to by tapering its balance sheet, but the bubble is still fizzing and if it does not stop soon it will do what bubbles generally do, erupt then collapse. The final eruption before collapse looks to be underway and we should only hope it doesn’t happen. If it does enter the terminal bubble phase and then collapse, it will be the second blow to the U.S. and world economy, which repeats the 1930 narrative of the one-two punch of twin crises. In the Great Depression it was “stock market crash” followed by “banking crisis.” Here it will be “lockdown” followed by “stock market crash.”

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Immune response differs greatly from one person to the next.

Immune Response To Coronavirus Could Be a Matter of Life And Death (SCMP)

Differences in the way people’s immune systems respond to being infected with the coronavirus could be a matter of life or death, according to a new study. When the human body comes under attack from a virus, the immune system produces T cells to tackle it. These mostly come in two forms: “helpers”, which organise the defence response, and “killers”, which are told how and where to fight. The killers destroy virus cells with toxic chemicals, but to do the job effectively requires precise coordination with the helper cells. In many patients who became seriously ill with Covid-19, this teamwork was missing, according to researchers from the Hospital of the University of Pennsylvania in the United States led by associate professor of medicine Dr Nuala Meyer.

According to their study, published in Science magazine on Wednesday, there are “three ‘immunotypes’ associated with poor clinical trajectories versus improving health”. The team found that in some patients there was a disproportionately large number of helper cells while the generation of killer cells was suppressed. This meant that while there was a lot of “horn blowing” about the threat posed by the virus, there were too few fighters to tackle it effectively. The second immunotype encompassed those people whose immune systems produced a much higher number of killer cells, meaning they were better armed to destroy the invaders, but not enough helper cells to coordinate the fight. As a result, they suffered significantly from Covid-19 but managed to survive it, the study said.

At the other end of the spectrum were those who failed to produce enough T cells of either kind, meaning they lacked the firepower to destroy the invasive cells and were therefore the most at risk of dying. The US study looked at 125 patients, making it the largest of its kind yet conducted. Although the scientists were unable to fully explain the different immune system responses, they suspected it might be linked to the patients’ general health at the time of infection. While most of the Covid-19 patients in the study had received more or less the same treatments, the researchers said doctors might need to consider a more tailored approach. “The findings promote the idea of tailoring clinical treatments or future immune-based clinical trials for patients whose immunotype suggests a greater potential benefit,” they said.

However, a doctor at a hospital treating Covid-19 patients in Beijing, who asked not to be named, said such a system was already in place. He said that while the reasons for different immune responses remained unclear, frontline doctors had been observing huge differences in the way people reacted to treatment methods since the early days of the coronavirus outbreak in China. A treatment that might work wonders for one person, could kill another, he said. “Too many helper T cells can lead to a storm [of inflammation],” he said. “Some drugs can suppress this signal before they raise havoc.”

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We know nothing. When will we acknowledge that?

My Patient Caught COVID19 Twice. So Long To Herd Immunity Hopes? (Vox)

“Wait. I can catch Covid twice?” my 50-year-old patient asked in disbelief. It was the beginning of July, and he had just tested positive for SARS-CoV-2, the virus that causes Covid-19, for a second time — three months after a previous infection. While there’s still much we don’t understand about immunity to this new illness, a small but growing number of cases like his suggest the answer is yes. Covid-19 may also be much worse the second time around. During his first infection, my patient experienced a mild cough and sore throat. His second infection, in contrast, was marked by a high fever, shortness of breath, and hypoxia, resulting in multiple trips to the hospital.

Recent reports and conversations with physician colleagues suggest my patient is not alone. Two patients in New Jersey, for instance, appear to have contracted Covid-19 a second time almost two months after fully recovering from their first infection. Daniel Griffin, a physician and researcher at Columbia University in New York, recently described a case of presumed reinfection on the This Week in Virology podcast. It is possible, but unlikely, that my patient had a single infection that lasted three months. Some Covid-19 patients (now dubbed “long haulers”) do appear to suffer persistent infections and symptoms. My patient, however, cleared his infection — he had two negative PCR tests after his first infection — and felt healthy for nearly six weeks.

I believe it is far more likely that my patient fully recovered from his first infection, then caught Covid-19 a second time after being exposed to a young adult family member with the virus. He was unable to get an antibody test after his first infection, so we do not know whether his immune system mounted an effective antibody response or not. Regardless, the limited research so far on recovered Covid-19 patients shows that not all patients develop antibodies after infection. Some patients, and particularly those who never develop symptoms, mount an antibody response immediately after infection only to have it wane quickly afterward — an issue of increasing scientific concern. What’s more, repeat infections in a short period are a feature of many viruses, including other coronaviruses.

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A Twitter thread that looks into a whole slew of reports on HCQ.

My Hydroxychloroquine Deep Dive (GB)

Gotta start with this chart many of you have seen by now In early June after months of following articles, treatment protocols, declarations, etc. I was curious about how the countries lined up. For the most part, it’s accurate
Image It’s not perfect as HCQ was also used in Belgium and Spain and later in Italy, but the idea is that Western Europe as a whole never embraced the ‘treat early and often’ strategy. Mostly they tried it with sick patients, didn’t work..moved on They mainly followed the WHO position. I wanted to address the chart first, because its not a work of great science. It was meant to provoke thought and discussion. Along the way, some saw it as proof. It’s not, but it does make you say “hmm..” In this thread, I’m going to try and go much deeper into the data.

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Sometimes I think maybe it’s just too simple, that people want it to be more complicated for them to believe it.

By the way, pieces like this should always mention the risk cuts when two people in an interaction both wear a mask.

And all the things you see about wearing masks outdoors? BS. Unless you’re in prolonged close interaction.

A Mask Cuts Your COVID-19 Risk By 65% (WEF)

Social distancing and wearing a mask prevent you from spreading COVID-19, but they also protect you from getting it, two experts explain in a new video discussion of coronavirus transmission. A range of new research on face coverings shows that the risk of infection to the wearer decreases by 65%, says Dean Blumberg, chief of pediatric infectious diseases at the University of California, Davis Children’s Hospital. “On the issue of masks, I’d like to restart—because we’ve learned a lot,” Blumberg says. “We’ve learned more due to research and additional scientific evidence. What we know now is that masks work and are very important.” Blumberg and William Ristenpart, a professor of chemical engineering, appeared on a recent livestream devoted to explaining how the coronavirus spreads and how to prevent transmission.


In their comments and answers to questions from viewers, Blumberg and Ristenpart repeatedly made the point that research continues to support the fundamental methods to prevent spreading COVID-19: Wear masks, maintain social distance, and keep social interactions outdoors whenever possible. There are two primary methods of coronavirus transmission, Blumberg and Ristenpart explain. The first is via droplets a carrier expels, which are about one-third the size of a human hair but still large enough that we can see them. Masks create an effective barrier against droplets. “Everyone should wear a mask,” Blumberg says. “People who say, ‘I don’t believe masks work,’ are ignoring scientific evidence. It’s not a belief system. It’s like saying, ‘I don’t believe in gravity.’


“People who don’t wear a mask increase the risk of transmission to everyone, not just the people they come into contact with. It’s all the people those people will have contact with. You’re being an irresponsible member of the community if you’re not wearing a mask. It’s like double-dipping in the guacamole. You’re not being nice to others.” The second major coronavirus transmission method is via the aerosol particles we expel when we talk. Those are about 1/100th the size of a human hair and are more difficult to defend against. Social distancing and staying outdoors, where there is more air flow, are helpful, Blumberg and Ristenpart say. “Studies in laboratory conditions now show the virus stays alive in aerosol form with a half-life on the scale of hours. It persists in the air,” Ristenpart says. “That’s why you want to be outdoors for any social situations if possible. The good air flow will disperse the virus. If you are indoors, think about opening the windows. You want as much fresh air as possible.”

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More stories about refrigerated trucks outside morgues.

Georgia Hospital Worker Sounds Alarm (NPR)

The emergency room overflowed with patients. Then, the next wave arrived. This time on stretchers. “They were lined up along the walls in the ER,” a health care worker inside a Navicent Health-owned hospital in middle Georgia told GPB News. “We never have had an influx like that. Since the Fourth of July, it has just exploded.” Staff members did what they always do. They tended to patients as best they could. For the sickest patients, staff searched for available beds in nearby hospitals. In previous weeks, the health care worker said, COVID-19 patients typically got transported to medical centers about 70 miles north to Atlanta or 160 miles east to Savannah. This week, there was no room. Desperate, the health care worker said, administrators began checking available hospitals in Kentucky, Tennessee, Alabama, North Carolina, South Carolina and Florida.

The distance stretched more than 850 miles north to south, from Louisville, Ky., down to Orlando, Fla. “When you have to start shipping patients out of state, it’s bad,” the worker said. “When the hospitals are full, that’s when it becomes really dangerous for everybody.” The Navicent employee approached GPB News late Wednesday, saying hospital systems are not providing an accurate reflection of what staffers are seeing inside the walls of medical centers overrun with patients. The employee spoke on condition of anonymity for fear of getting fired, and NPR is not identifying the Navicent hospital where the employee works to maintain that person’s anonymity. “People will never understand if we do not tell the truth about how bad it really is,” the employee said. “That’s what makes us so angry.”

Tired of being stuck at home, Georgians headed to beaches and bars, to hair salons and restaurants. Many flaunted not wearing masks as if the virus were gone. For some, it was their own personal way of telling the government to shove its restrictive policies. Public health officials warned of opening too fast, too soon – that you can’t wish a virus away. Georgia has seen coronavirus cases skyrocket as residents have gone about business as usual in recent weeks. Cases have topped 127,000, and more than 3,000 lives have been taken. Just three weeks ago, the overall cases stood at 69,000.

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End of July.

Unemployment Increase Set To End As Jobless Claims Climb (NYP)

A boost in unemployment pay is about to run out for people who lost their jobs due to the coronavirus pandemic — as jobless claims pass 51 million. The $600-per-week federal supplement in unemployment insurance is a flashpoint ahead of talks next week on a new coronavirus relief bill. Republicans including Senate Majority Leader Mitch McConnell oppose extending the boost — though there are hints of a potential compromise. The supplement for weekly unemployment was intended to ensure that most people kept the same income if they were temporarily out of work, but it officially runs out at the end of July. If it’s taken away, people would only get weekly benefits from state governments, which range from less than $250 a week in Arizona and Louisiana to over $1,200 with dependents in Massachusetts.


Many people have returned to work as states allow businesses to reopen, but another 1.3 million Americans applied for first-time unemployment benefits last week. From the start, Senate Republicans objected to the boost resulting in some jobless people earning more than 100 percent of their prior pay due to varying state rates, saying it created an incentive not to work. McConnell (R-Ky.) said this month that extending the boost won’t be in a new bill. “We’re hearing it all over the country that it’s made it harder actually to get people back to work,” he said. White House economic adviser Larry Kudlow is pushing for a “back to work” bonus to replace the unemployment bump. But signaling room for compromise, Treasury Secretary Steven Mnuchin, the top Trump administration negotiator on past packages, said last week a priority was changing the provision to ensure “no more” than 100 percent of pre-pandemic pay was awarded.

Read more …

It’s obvious the industry will not return, or at least for a very long time. So why bail it out?

Key US Lawmakers Back Unions’ Call For New Airline Bailout (R.)

Key U.S. House Democrats are backing a push by airline unions for a new round of government bailouts to keep workers employed in the face of tens of thousands of possible layoffs this fall, according to a letter encouraging other colleagues to sign on. In March, Congress approved $32 billion for the aviation industry to keep workers on payroll through Sept. 30, but as air travel demand remains depressed in the pandemic, airlines have warned of furloughs in October, prompting union calls for a six-month extension of aid. Airlines for America (A4A), a trade group representing major U.S. airlines, said Thursday it is not actively seeking new government assistance but would accept new bailout funds as long as no new strings were attached.


Under the first package, airlines agreed to limits on share buybacks and executive compensation, and issued warrants on a portion of the funds that the government can exchange for shares. If Congress enacts labor’s proposal, “we would support our workforce’s decision to pursue a simple and clean extension of the grants as long as no additional or extraneous conditions are required,” an A4A spokeswoman said. Airlines also agreed not to force any job cuts before October, giving them time to assess the pace of a recovery. Now over 60,000 airline workers at American Airlines and United Airlines alone are facing furlough warnings. Delta is hoping to avoid furloughs after about 17,000 employees volunteered for buyouts, though Chief Executive Ed Bastian said in a memo on Friday that the airline is still overstaffed in some areas based on its network and demand projections.

Read more …

To be continued.

AG Barr: US Companies Kowtow To China (JTN)

Attorney General William Barr on Thursday condemned U.S. businesses for compromising American principles while chasing profits from China. Barr during a speech at the Gerald R. Ford Presidential Museum in Michigan warned about the Asian super power’s ambitions and the tactics it uses to achieve its aims. “The People’s Republic of China is now engaged in an economic blitzkrieg — an aggressive, orchestrated, whole-of-government (indeed, whole-of-society) campaign to seize the commanding heights of the global economy and to surpass the United States as the world’s preeminent technological superpower,” Barr said.

“It is clear that the PRC seeks not merely to join the ranks of other advanced industrial economies, but to replace them altogether,” he said. “If you are an American business leader, appeasing the PRC may bring short-term rewards. But in the end, the PRC’s goal is to replace you.” The attorney general said that while doing business with China has failed to soften the country’s authoritarian regime, it has had negative results as some American businesses seek to appease China in order to retain the ability to do business there. “As this administration’s China Strategy recognizes, ‘the [Chinese Communist Party’s] campaign to compel ideological conformity does not stop at China’s borders.’

Rather, the CCP seeks to extend its influence around the world, including on American soil,” he said. “All too often, for the sake of short-term profits, American companies have succumbed to that influence—even at the expense of freedom and openness in the United States.” Barr pointed to Hollywood for taking actions to appease the Chinese regime. He also called out technology companies, saying that organizations “such as Google, Microsoft, Yahoo, and Apple have shown themselves all too willing to collaborate with the CCP.” “The American people are more attuned than ever to the threat that the Chinese Communist Party poses not only to our way of life, but to our very lives and livelihoods,” he said. “And they will increasingly call out corporate appeasement.”

Read more …

And in the midst of it all, they insist on keeping the twice-yearly idiotic move between Brussels and Strasbourg going. You don’t want to know what that costs.

So Much Money, So Little Time To Find Deal At EU Summit (AP)

As European Union leaders start pouring in early for a two-day summit starting Friday, all realize that rarely so much has been on the line. The 27-nation bloc is battered by the coronavirus pandemic, much of its economy in need of a massive aid injection and its countries riven by disputes ranging from the respect for basic democratic principles to the need for tough controls on spending. “The crisis brought about by this pandemic, with all of its economic and social consequences, is the most severe we have had to face since the Second World War,” European Council President and summit host Charles Michel said Thursday.

To make sure their nations bounce back, the 27 leaders will be assessing an overall budget and recovery package spread over seven years estimated at around 1.75 trillion to 1.85 trillion euros. “Does 1.75 trillion euros ($2 trillion) seem like a lot of money to you? Believe me, it does to the European heads of state or government too,” Michel said. It has certainly been enough to end a rut of five remote videoconference summits that yielded little to bring sides closer together and forced everyone to come in person to the urn-shaped Europa summit center for at least two days of summiteering. On the eve of Friday’s opening, French President Emmanuel Macron will already be huddling with Italian Prime Minister Giuseppe Conte to find the best way to help nations most affected by the crisis.

Chancellor Angela Merkel of Germany, which holds the rotating EU presidency and is seen as holding the key to a successful outcome, already had video conference talks with Michel. “An agreement is not guaranteed — to the contrary,” said an EU official involved in the talks. He spoke on condition of anonymity because the talks were ongoing. “There are still important differences.” The members were already fighting bitterly over the seven-year, 1-trillion-euro EU budget when COVID-19 was still a local story in Wuhan, China, late last year.

Then the virus hit the EU head on and estimations are now that the economy of the 19 countries that use the euro currency will contract by 8.7% this year. It sent the EU into a panic as it was at a loss on how to coordinate policies of its member states early on. Now, the EU’s executive is proposing a 750-billion-euro recovery fund, partly based on common borrowing, to be spent as loans and grants to the most needy countries. The group of the four so-called frugal countries, led by the Netherlands, is questioning the need for grants and also wants strict governance criteria, including the possibility of veto, on how the money will be spent. There are also questions on which nations should be the main beneficiaries.

Read more …

Why even bother denying anymore?

Russia Rejects UK’s Claims Of Hacking & Election Meddling (RT)

Contradictions in the words of the UK’s top diplomat were pointed out by the Russian Foreign Ministry’s spokeswoman, Maria Zakharova. Raab’s statement “was so ambiguous and inconsistent that it was practically impossible to understand,” she said. With London confirming that it has no proof against Russia, but still threatening retaliatory measures, “there’s a feeling that we have a new loop of the ‘highly likely’ tactics.” “Highly likely” was the phrase used by then-UK Prime Minister Theresa May to blame Russia for the chemical poisoning of double agent Sergei Skripal in Salisbury back in 2018. Two years later, London hasn’t provided any convincing evidence to back the claim.

Raab’s “almost certain” will apparently become the new go-to formula for the UK authorities, but the tactics of blaming Russia for internal problems in Britain will remain the same, Zakharova said. The Russian Embassy in London called it a purely propagandist step, noting that it never received any notes of protest from the British parties regarding the hacking claims. As for Raab’s threats of retaliation, an embassy spokesman said that “any unfriendly steps towards Russia won’t be left without a proper and adequate response.” The hacking claims were an attempt to “tarnish the reputation of the Russian vaccine” against the coronavirus, CEO of Russian Direct Investment Fund (RDIF) Kirill Dmitriev said.

Those behind the slur are “scared of [the vaccine’s] success because the Russian vaccine could potentially be the first on the market and it potentially could be the most effective,” he explained. It’s no coincidence that those accusations were made just after the announcement that the state regulators will be approving the Russian vaccine in August, Dmitriev added. Besides, stealing data from the UK would have made no sense for Moscow, as a Russian firm, R-Pharm, will be producing the British vaccine made by Oxford-based AstraZeneca. “No secrets are needed. Everything is already given to R-Pharm,” Dmitriev said.

Read more …

 

 

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Who on earth made this? And how? 2020 The Movie.

 

 

 

 

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Jul 162020
 
 July 16, 2020  Posted by at 7:46 pm Finance Tagged with: , , , , , , , , , , , ,  8 Responses »


Utagawa Yoshitoshi Ariko weeps as her boat drifts in the moonlight 1886

 

 

Sometimes I think I can only do this work properly if I’m angry all the time 24/7. But I don’t want to be angry all the time; what kind of life is that? Still, there are days when I just can’t help it. The British intelligence services (please let find another word for that, so as to not insult actually smart people) came out with a couple anti-Putin press releases today, and there we go again.

We can only guess at what they want this time, whether it to keep the UK’s own “RussiaRussia Putin is Hitler” flame alive, or are they seeking to help their US counterparts to rise from the ashes of their fully discredited years-long Orange Man Bad narratives, but boy, is this nauseating. What’s even worse is that people eat it up like candy.

Guys, this is your own highly paid snoops lying to you -along with your government(s)- like there’s no tomorrow, and you’re just sitting there worrying about wearing a face mask next time you go to a store. Know what that makes you? Sheep. I know y’all still know what those look like, and how they behave. So what’s the attraction?

Here’s BIGLY revelation no. 1 per the BBC. Do note the “almost certain” in both pieces, they need an easy way out if the story doesn’t stick. It also means that obviously they’re not at all certain, they’re just making it up.

Russian Hackers Target COVID19 Vaccine Research

Russian hackers are targeting organisations trying to develop a coronavirus vaccine, a group of national security services has warned. The UK’s National Cyber Security Centre (NCSC) said the hackers “almost certainly” operated as “part of Russian intelligence services”. It said the group used malware to try and steal information relating to Covid-19 vaccine development. NCSC director of operations Paul Chichester said it was “despicable”. The hackers are part of a group called APT29, also known as “the Dukes” or “Cozy Bear”.

Some people will remember the name Cozy Bear from Robert Mueller’s failed $40 million “investigation”. Is that why the NCSC put it in? But to the point: Why would Russia hack the UK for vaccine info if and when the UK has no vaccine? Put it another way: what are the odds that UK “intelligence” is not at the same time trying to hack Russia for its own info? Think British scientists are smarter than Russian ones? How much money would you want to put on that?

Everyone is spying on everyone, always have, and today that may require some hacking skills. Big surprise. You leave your backdoor open, someone may try to have a look inside. Same for everyone. Not even the beginning of a newsworthy story; it happens all the time and everywhere. Next.

Next one is even flimsier. This one implies that since Jeremy Corbyn had some papers on the NHS in the last election, RussiaRussia gave them to him. And he’s an anti-semite too. So there. Can anyone explain why Russia would want to interfere in a UK election?

This seems to allege that Putin wanted to help Corbyn win. But is that for the same reason that he wanted to help Corbyn’s ideological twin Donald Trump win? Which we now know he didn’t? Or is it just that Putin the evil mastermind wants to confuse all parties? Given what I see and hear, he needn’t bother; they’re all already confused as can be.

 

UK Says Russia Sought To Interfere In 2019 Election

Dominic Raab’s statement is the first time ministers have admitted that the Kremlin has tried to distort the workings of British democracy – a practice the foreign secretary said was “completely unacceptable”. “On the basis of extensive analysis, the government has concluded that it is almost certain that Russian actors sought to interfere in the 2019 general election through the online amplification of illicitly acquired and leaked government documents,” Raab said in a written statement.

Next. Only days ago, there was this from Britain about a court case concerning the infamous novichok “attack” in Salisbury, in which first former Russian GRU agent Sergei Skripal and his daughter, and months later two other Brits, ostensibly came in contact with what was called the deadliest nerve agent in the world.

Neither Sergei Skripal nor his daughter Yulia have ever been seen again. There was a vague message from a niece, but that was it. But the story is alive and kicking. And can thus continue to be used. By the media-intelligence cartel.

 

Russian Agents May Have Deliberately Left Bottle Of Novichok In Salisbury

Russian agents may have deliberately discarded a bottle of the deadly nerve agent novichok, used in the assassination attempt of former spy Sergei Skripal, in Salisbury in a bid to undermine UK security, the High Court today heard. The claim was made during a legal challenge by the family of Dawn Sturgess, 44, who died in 2018 after coming into contact with novichok in a fake perfume bottle which her partner had found in a park. The family are embroiled in a High Court action in a bid to get ‘key questions’ asked at Ms Sturgess’ inquest.

[..] According to the Guardian, he also referenced then UK prime minister, Theresa May, in September 2018 in which she said: ‘This chemical weapons attack on our soil was part of a wider pattern of Russian behaviour that persistently seeks to undermine our security and that of our allies around the world.’

[..] ‘The use of novichok in Salisbury was the first aggressive use of a nerve agent in Europe since the Second World War,’ said Mr Mansfield in a written case summary. ‘It put hundreds of members of the British public at risk and killed Ms Sturgess. ‘The issue of who was responsible for it is a matter of almost unparalleled public concern. ‘There is no realistic prospect that the two suspects will face a criminal trial in the UK or that the Russian state will carry out a comprehensive investigation, and no public inquiry into these events has been established.

This is the pattern: it’s nothing to do with UK security. The pattern is that both the US and UK use their lack of control over Russia as an excuse and reason to blame Russia for anything they feel like. As five-year old kids would. Robert Mueller, the liar and coward, having failed to produce one shred of evidence against Trump, left two things alive in his final report: empty accusations against Assange, who was muzzled, and against “13 Russians”, who he knew would never contest whatever he said.

And when he was challenged because Concord Management decided to show up with a lawyer, he lost that too. The official line was: “It is no longer in the best interests of justice or the country’s national security” to continue. What a bunch of losers.

And we’re not done. Assange smearer no. 1 and hidden intelligence agent Luke Harding, who invented more smear stories about Julian than anyone on the planet, had this three weeks ago. I kid you not, his point was that Russian intelligence is really really stupid. To prove it, he paints a shining portrait of … US/UK intelligence operation Bellingcat.

This is mainly about the Skripal case again, but of course we also remember their role in the never ever existing chemical attack in Syria by Assad on his own people. Yes, the one where they, the OPCW was involved too, planted the canisters and shot some grueling staged photographs.

 

A Chain Of Stupidity’: The Skripal Case And The Decline Of Russia’s Spy Agencies

Bellingcat revealed the identity of poisoner No 1 in a message on its website. Having unmasked one assassin, it seemed likely that Bellingcat would succeed in identifying Petrov, too. Sure enough, in late September I received an invitation to a press conference. It was to be held in an illustrious location: the Houses of Parliament, in an upstairs committee room, number nine. Its subject was Petrov’s real identity. By the time I arrived, the room was full. I spotted a reporter from the New York Times, Ellen Barry, together with leading representatives from the British and US media. It was hard to escape the conclusion that power in journalism was shifting.


It was moving away from established print titles and towards open-source innovators. The new hero of journalism was no longer a grizzled investigator burning shoe leather, à la All the President’s Men, but a pasty-looking kid in front of a MacBook Air. Higgins and Grozev were there, as well as a Conservative MP, Bob Seely. I found a spot on a bench and sat down. The mood was expectant. Seely set the scene. He described Bellingcat as a “truly remarkable group of digital detectives”. Their success was due to an explosion of digital technology and a rise in digital activism, he said.

Here’s Canadian journalist Eva Bartlett about Bellingcat:

Bellingcat & Atlantic Council Join To Award Exploited Syrian Child & American Mass Murderer

Is the Atlantic Council some benevolent organization handing out awards to do-gooding people? No. It’s a Washington DC-based think tank, which promulgates lies and propaganda to further imperialist wars and weapons sales, among other things. One of its Syria “experts” is none other than Bellingcat’s Eliot Higgins, who recently took to social media to tell people to suck his “big balls,” making him more of a laughing stock than this backgrounder on the man with no qualifications to his title.


Some of the Atlantic Council’s funders include: the US State Department, oil and weapons manufacturing companies, banks, NATO, various nations’ ministries of defence, and the US Air Force, Army, Marine Corps and Navy. Even just based on funding alone, and ignoring their pro-NATO policy papers, the Atlantic Council clearly exists to further the interests of those involved in weapons manufacturing, wars, and oil.

Of course the entire lying fanfare is a direct result of the west failing to capture Crimea from Russia. They lost that one too; they sure lose a lot when engaging with Russia, don’t they? All they end up with is stories. John McCain and Victoria Nuland thought they had it all in their hands, and then it slipped right through.

And from Maidan and Crimea it’s just a skip and a hop to MH17, plus more -and heavy- Bellingcat involvement. This made the news again a week ago.

 

MH17 Disaster: Dutch Take Russia To European Rights Court

Citizens of 10 different countries died on board the Boeing 777 airliner that was flying from Amsterdam to Kuala Lumpur, Malaysia. More than two-thirds of the victims were Dutch nationals. In March, a trial opened in the Netherlands of three Russian and one Ukrainian citizens – still at large – for the murder of 298 people on board the plane. They are all linked to the pro-Moscow separatists. The trial, in a court near Amsterdam’s Schiphol airport, is expected to last for months.


In a statement, the Dutch foreign ministry said the government “decided to bring Russia before the European Court of Human Rights for its role in the downing of Flight MH17”. It said that “by taking this course of action the government is offering maximum support” to individual cases already brought against Russia by victims’ families. “Achieving justice for 298 victims of the downing of Flight MH17 is and will remain the government’s highest priority,” said Mr Blok. “By taking this step today… we are moving closer to this goal,” he added.

Now, I have some interest in this, because I was born in Holland and still have the passport. But from what I can see, this is just yet another western intelligence story. I don’t know what happened with MH17, but I’m pretty sure the Dutch government doesn’t know either, or if they do they’re not telling. And my skepticism isn’t even based on pieces like this from Eric Zuesse two weeks ago (but do read it!).

 

Netherlands ‘Justice’ Is Totally Corrupt: MH17 Case as Example

[..] when Ukraine’s Government authorized Holland’s Government to investigate and rule on what caused the MH17 to be shot down, Holland’s Government signed onto a secret agreement with Ukraine’s Government that included a provision allowing Ukraine’s Government to block and prevent any finding from being issued that would implicate Ukraine’s Government in having shot it down. Holland’s Government violates its own Freedom of Information law by refusing to make public what that secret agreement says.


However, at the time when the existence of the agreement slipped through into mention by a Ukrainian news-site on 8 August 2014, that news-report said “As part of the four-party agreement signed on August 8 between Ukraine, the Netherlands, Belgium and Australia [all of which nations are allies of the United States and are cooperating with its new Cold War against Russia], information on the investigation into the disaster Malaysian ‘Boeing-777’ will not be disclosed.”

My skepticism is kind of linked to this, but it’s much older. When the plane was brought down, I noted that then-US VP Joe Biden, as well as the Ukrainian government of newly (US-)installed president Poroshenko, and also Dutch foreign minister Frans Timmermans, who got a plush job in Brussels out of it, all three declared within hours that Russia “was what did it”.

None could know at the time they made the statement. But it was a few months after the west lost Crimea, and thereby the chance to rid Russia of its only warm water port. And some people didn’t like that one bit. Some people were very unhappy about being outsmarted by Putin. Nuland must have been livid. And Hillary Clinton, and McCain.

Then when the investigation started, something odd happened. 2/3 of all victims -298 in total- were from the Netherlands. Yet the Dutch got to lead the inquest. As I wrote at the time: have you ever seen a crime series, or a murder one, or a movie, where the main victim (afflicted party) gets to lead the investigation into what happened? No, what we always see is someone taking the aggrieved detective aside saying: sorry, you’re too close to this.

And then on top of that, Ukraine, certainly one of the main suspects, since it happened in their territory, got to be part of the investigation. And not just part, as you can see in Zuesse’s piece, they could veto both what would be investigated and what could be communicated about the results. While they could well be the perpetrator!

If you go back to the murder series metaphor, a producer or writer would say: no can do, it lacks all credibility. But they did it. And it was then that I knew no matter what the report would say, it would be literally incredible. It’s 6 years later, and it’s going to take many more years, of posturing, name-calling, threats, accusations, you name it. And nothing will be proven, there will be only claims of proof. Just like in all the other cases I mentioned above. It’s how these things are done.

MH17 has become just another tool in the hands of “intelligence”.

 

 

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Jun 052020
 


DPC On the beach, Coney Island 1907

 

After Pakistan’s Lockdown Gamble, COVID19 Cases Surge (R.)
Most COVID-19 Cases In BC Have Strains From Europe And Eastern Canada (CBC)
Authors Retract Influential Lancet Article That Found HCQ Risks (R.)
ECB Gives Another Shot Of Stimulus As Economy Reels (R.)
Japan’s Household Spending Falls At Record Pace As Virus Stalls Economy (R.)
China Can’t Take Over US Security Presence in SE Asia: Singapore PM (SCMP)
US Schools Lay Off Hundreds Of Thousands, Setting Up Lasting Harm To Kids (R.)
Medical Martial Law: Liberalism’s Final Capitulation (Pear)
Trump Fires Back At Critics Murkowski, Mattis And Kelly (JTN)
Rosenstein Slams McCabe, Obstruction Theories, 1000 Former Prosecutors (Turley)
The Hunt For The Origins Of The Russia Collusion Narrative (JTN)

 

 

Seen a whole new bunch of utterly sickening videos again. As I said a few days ago, nothing has changed with policing in the US other than that now everyone has a camera.

But i don’t think it’s much use to post all that mindless violence here.

 

 

Worldometer puts global new cases for June 4 at + 129,990. A new record. The increase in cases warrants much more attention than it gets.

 

 

New cases past 24 hours in:

• US + 22,406
• Brazil + 31,890
• Russia + 8,831
• India + 9,908
• Chile + 4,664
• Pakistan + 3,895
• Mexico + 4,442

 

 

New daily highs in Covid-19 cases and deaths for India, Brazil, South Africa, and Mexico.

Another 20,000+ cases and another 1,000+ dead in the United States.

 

 

Worldometer puts global new deaths for June 4 at + 5,499.

 

 

 

 

 

Cases 6,724,096 (+ 127,595 from yesterday’s 6,596,501)

Deaths 393,553 (+ 5,132 from yesterday’s 388,421)

 

 

 

From Worldometer yesterday evening -before their day’s close-:

 

 

From Worldometer:

 

 

From COVID19Info.live:

 

 

 

 

 

 

A curious initiative.

 

 

Taleb principles

 

 

Pakistan may be more inclined towards lifting a lockdown due to its poverty, but the cost will in the end almost certainly be much higher because of it, both in economic terms and in lives.

After Pakistan’s Lockdown Gamble, COVID19 Cases Surge (R.)

Four weeks ago, with its most important festival coming up and millions of people facing starvation as economic activity dwindled, Pakistan lifted a two-month-long coronavirus lockdown. Prime Minister Imran Khan has said despite rising infections and deaths, the country would need to learn to “live with” the virus to avert pushing tens of millions living on daily wages into destitution. Now, a Reuters review of government data shows over 20,000 cases of the virus were identified in the three weeks before the lockdown was lifted, and more than double that figure were identified in the three weeks since. To be sure, testing rates have also increased. But of those tested, the daily average of positive results climbed from on average 11.5% in the three weeks before the lockdown was lifted, to 15.4% on average in the subsequent three weeks.

The ratio is around 23% this week, according to the data. Pakistan has officially identified over 80,000 cases of COVID-19, with 1,770 confirmed deaths. “Those numbers are concerning, since they do suggest there may still be widespread transmission in certain parts of the country,” said Claire Standley, assistant research professor at the Department of International Health at Georgetown University. [..] According to a letter seen by Reuters, a committee of experts backed by the local health department in Pakistan’s most populous province, Punjab, told the provincial government the lockdown needed to continue. The letter said random testing suggested more than 670,000 people in the provincial capital Lahore had likely contracted the virus, many of them asymptomatic.


Pakistan lifted its lockdown on May 9, about two weeks before the Eid al-Fitr festival that marks the end of the Islamic holy month of Ramadan and is celebrated with family gatherings and feasting. Transport and most businesses have re-opened but cinemas, theatres and schools remain closed. There has been growing debate among experts globally on whether populous developing nations can afford comprehensive social distancing measures to contain the coronavirus while avoiding economic ruin.

Read more …

Very useful research, albeit a bit too localized.

Most COVID-19 Cases In BC Have Strains From Europe And Eastern Canada (CBC)

Strains traced to Europe and Eastern Canada are by far the largest source of COVID-19 infections in B.C., according to new modelling presented by the provincial government Thursday. Provincial Health Officer Dr. Bonnie Henry revealed the results of genomic tracing of different strains of the virus, showing that of those samples that have been sequenced, early cases linked to travel from China and Iran appear to have been well contained, leading to relatively few other infections. But beginning in March, with an outbreak that began with the Pacific Dental Conference in Vancouver, infections with strains from Eastern Canada and Europe spiked dramatically.

“One of the people that we knew was positive and had attended that conference had previously been in Germany during his incubation period before he became ill,” Henry said. Strains traced to Washington state have also been linked to a large number of cases, particularly in long-term care homes in the Vancouver Coastal Health region. Henry explained that this kind of tracing is possible because the genome of the virus changes relatively quickly, but not as fast as diseases like influenza. She also announced nine new confirmed cases of the virus on Thursday, for a total of 2,632 to date. No new deaths have been recorded, leaving B.C.’s total at 166.


The new cases announced Thursday include four people who have already recovered, people that Henry described as epidemiologically linked to previous patients who have tested positive. This means these four people were close contacts of known cases and developed symptoms of COVID-19, but may not have had access to testing at the time.

Read more …

As I commented yesterday: when they say they “can no longer vouch for the veracity of the primary data sources”, that means they never could, because they never had access to the data or the sources. We know this because it’s not as if either has dramatically changed since publication, or they would have mentioned it.

Authors Retract Influential Lancet Article That Found HCQ Risks (R.)

An influential medical journal article that found hydroxychloroquine increased the risk of death in COVID-19 patients was retracted on Thursday, adding to the controversy around a drug championed by U.S. President Donald Trump. Three of the authors of the article retracted it, citing concerns about the quality and veracity of data in the study. The anti-malarial drug has been controversial in part due to support from Trump, as well as implications of the study published in British medical journal the Lancet last month, which led several COVID-19 studies to be halted. The three authors said Surgisphere, the company that provided the data, would not transfer the dataset for an independent review and that they “can no longer vouch for the veracity of the primary data sources.”


The fourth author of the study, Dr. Sapan Desai, the chief executive of Surgisphere, declined to comment on the retraction. [..] Another study published in the New England Journal of Medicine that relied on Surgisphere data and shared the same lead author, Harvard Medical School Professor Mandeep Mehra, was also retracted for the same reason. The observational study published in the Lancet on May 22 said it looked at 96,000 hospitalized COVID-19 patients, some treated with the decades-old malaria drug. It claimed that those treated with hydroxychloroquine or the related chloroquine had higher risk of death and heart rhythm problems than patients who were not given the medicines.

Read more …

The idea: save the banks so they can lend money at higher rates than they borrow at from the ECB. Utterly crazy and useless.

ECB Gives Another Shot Of Stimulus As Economy Reels (R.)

Just months after a raft of crisis measures, the ECB again expanded its money-printing scheme to cushion a potential fall in output of up to 12% this year, even as governments spend record amounts to preserve jobs while restrictions keep businesses shuttered. “The euro area economy is experiencing an unprecedented contraction,” ECB President Christine Lagarde said. “There has been an abrupt drop in economic activity as a result of the coronavirus pandemic and the measures taken to contain it.” The ECB’s move, coming just weeks after Germany’s Constitutional Court tried to curb its powers, was also seen as an act of defiance, with one of the European Union’s most powerful institutions making clear it would not take orders from national courts.

Thursday’s decision extended the ECB’s emergency bond purchase scheme to mid-2021 and increased it by 600 billion euros to 1.35 trillion euros. That should allow the bank to buy up most of the new debt euro zone governments are issuing to overcome the pandemic. Three sources told Reuters that figure was a compromise after policymakers discussed an expansion of between 500 billion and 750 billion euros. Markets rallied on the decision, with bond yields on the bloc’s periphery tumbling, suggesting the measures would give a bigger boost to nations such as Italy and Spain, both hit hard by the pandemic and struggling with high debt levels.


Ten-year Italian yields fell by 14 basis points, but perhaps more importantly the gap between Italian and German bonds, a key benchmark, narrowed by 16 basis points. The ECB’s bond purchases come on top of big German spending plans and an ambitious European Union fiscal package, pointing to the biggest coordinated effort in the euro’s 20-year history. ECB staff dramatically revised downward their baseline scenario for euro zone output this year to a contraction of 8.7% from the modest 0.8% rise they forecast only in March.

Read more …

After ten years of Abenomics failure, here comes deflation again. Only now Abe can blame a virus.

Japan’s Household Spending Falls At Record Pace As Virus Stalls Economy (R.)

Japan’s household spending fell at the fastest pace on record in April as the coronavirus shut down travel and dining-out in the world’s third-largest economy, and prospects of higher jobs losses chilled consumer sentiment. The dismal number will keep policymakers under pressure to prevent a larger decline in the economy, which is expected to fall deeper into recession this quarter. Household spending tumbled 11.1% in April from a year earlier, government data showed on Friday, marking the fastest pace of decline since comparable data became available in 2001. The decline was slower than a median forecast of a 15.4% fall and followed March’s 6.0% decline.

Many analysts expect consumption to have bottomed out in April or May, as businesses re-open after last month’s lifting of nationwide lockdowns. But any rebound will be slow and fragile, as companies and households remain wary of spending, they say. “Unless effective vaccines are developed, a strong recovery cannot be expected for the foreseeable future,” said Takeshi Minami, chief economist at Norinchukin Research Institute. Friday’s data showed some winners and losers. Spending on bars, plane tickets, hotels and amusement parks tanked by around 90% as households were forced to stay home, the data showed.


On the other hand, stay-home policies boosted spending on pasta by 70%, instant noodles by 43% and sanitary goods like face masks by 124%, it showed. Overall, however, an expected rise in job losses and the hit to household sentiment from the pandemic will weigh on consumption, analysts say. “A lot of people are out of work and couldn’t look for jobs during lockdowns in April. Wages are likely to fall too, which will weigh on consumption,” said Yoshiki Shinke, chief economist at Dai-ichi Life Research Institute. “Japan’s economy will rebound in July-September if there’s no renewed spike in infections. Even so, it may take until 2023 or 2024 for the economy to return to pre-COVID levels.”

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“Any confrontation between these two great powers is unlikely to end as the Cold War did, in one country’s peaceful collapse..”

China Can’t Take Over US Security Presence in SE Asia: Singapore PM (SCMP)

The US security presence “remains vital to the Asia-Pacific region,” and China would be unable to take over that role in Southeast Asia even with its increasing military might, Singapore Prime Minister Lee Hsien Loong said. In an article published by Foreign Affairs on Thursday, Lee wrote that China’s competing maritime and territorial claims in the South China Sea meant that countries in the region will “always see China’s naval presence as an attempt to advance those claims”. He also wrote that many Southeast Asian nations are “extremely sensitive” about perceptions that China has influence on their sizeable ethnic Chinese minorities.

“Despite its increasing military strength, China would be unable to take over the United States’ security role,” he wrote, adding that a US withdrawal in North Asia would compel Japan and South Korea to contemplate developing nuclear weapons to counter North Korea’s growing threat. Lee’s article comes as tensions between the US and China continue to escalate, with the world’s biggest economies sparring on everything from 5G networks to the South China Sea to responsibility for the Covid-19 pandemic. Singapore has been one of the most outspoken countries in Asia calling for the US and China to avoid a destructive clash that would force smaller countries to choose sides.


“Asia-Pacific countries do not wish to be forced to choose between the United States and China,” Lee wrote, echoing comments he’s made previously. “They want to cultivate good relations with both.” Lee warned that if the US tried to contain China, or if Beijing sought to build an exclusive sphere of influence in Asia, the two countries “will begin a course of confrontation that will last decades and put the long-heralded Asian century in jeopardy”. “Any confrontation between these two great powers is unlikely to end as the Cold War did, in one country’s peaceful collapse,” he wrote.

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You mean worse damage to kids than the school system itself inflicts? I’d say it’s a toss-up at best.

US Schools Lay Off Hundreds Of Thousands, Setting Up Lasting Harm To Kids (R.)

In April alone, 469,000 public school district personnel nationally lost their jobs, including kindergarten through twelfth-grade teachers and other school employees, a Labor Department economist told Reuters. That is more than the nearly 300,000 total during the entire 2008 Great Recession, according to a 2014 paper by three university economists financed by the Russell Sage Foundation. The number of public school teachers hasn’t recovered from that shakeout, reaching near-2008 levels only in 2019. Multiple school district administrators, public officials and teaching experts have warned that the current school personnel job loss will last for years, hurting the education of a generation of American students. It also could be a drag on economic recovery, for one thing because school districts are big employers.

The Labor Department reported on May 8 that 20.5 million non-farm workers lost jobs in April, including 980,000 government workers. Of those, 801,000 were local government employees. Although the Labor Department report does not break out the number, 469,000 of the 801,000 local government workers were K-12 public school teachers and other school personnel, the department economist told Reuters. School districts in poor areas face the most punishing blows. A Brookings Institution paper in April predicted that education layoffs “would come at the worst possible time for high-poverty schools, as even more students fall into poverty and need more from schools as their parents and guardians lose their own jobs.”


Low-income districts are particularly troubled because of plunging revenue amid the Covid-19 recession. Districts rely for revenue on local property taxes and state subsidies. Poorer districts, where property tax revenue is low, rely on states for most of their income. With states hit hard by falling income and sales taxes, aid to school districts is dwindling in many places. [..] April was an especially cruel month for education. The Labor Department report said that in addition to the 469,000 K-12 personnel, state-run colleges and universities laid off 176,000 professors and other employees. Private schools, including well-known colleges and universities and K-12 private schools, were down by 457,000.

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Don’t choose sides. There is only one.

Medical Martial Law: Liberalism’s Final Capitulation (Pear)

Liberals elected Barack Obama in 2008, laughed, cheered, cried, and then they went to sleep for eight years. They thought that Obama would do the heavy lifting for them. Instead he went from bombing three countries to bombing seven, after winning the Nobel Peace Prize for nothing. Obama looked the other way as the Police Occupied Zuccotti Park, Black Lives Didn’t Matter, and Dakota Pipelined. Obama imprisoned and tortured whistleblowers, and he became the deporter-in-chief. He bailed out the banks, while millions of families lost their homes. Obamacare enriched insurance companies and big-pharma. Gitmo stands as the legacy of Obama’s droning wedding parties and funerals, and for all his broken promises. His answer to climate change was Artic drilling, and fracking the USA.

Obama and the liberal class are the reason we have Trump. The rich do not care about any of the liberal class’s identity politics and correctness. It costs the rich nothing to make those concessions. The liberals are not willing to fight for anything of importance, and the corporatists know it. The corporatists don’t care if Trump or Biden is the next president. Bernie or bust! Fugget about it: Bernie Sanders is just a sheepdog, a foil, a professional wrestler, and Kabuki theater. Bernie is the Senator from Lockheed and Israel. He is a carnival huckster, herding the liberal suckers into the big tent. The DNC will be happy to keep Trump. They get to keep their jobs, their power, their influence, and the gravy train keeps on rolling.


Nancy Pelosi will still get her kicks from gourmet chocolate, Alexandria Ocasio-Cortez will keep making arm-waving rants to an empty House, Ilhan Omar will kowtow to the Zionist lobby, and the Congressional Black Caucus will vote against blacks. Liberals will grandstand politically correct platitudes, while the banks, corporations, military-industrial complex, Israel, and the well-connected get unlimited hand-outs. Lest I forget, fake liberal Rachel Maddow and her ilk in the media will still get paid $30 thousand a night for “Russia-Russia-Russia!”, and the New York Times will endorse every regime-change war, just as it has done for the past 150 years. And Liberals will commiserate with each other, preach to their dwindling choir, blame everybody except themselves, and waste another four years without organizing any opposition.

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Much ado about nothing at all. Clickbait.

Trump Fires Back At Critics Murkowski, Mattis And Kelly (JTN)

President Trump on Thursday unleashed Twitter attacks against former Defense Secretary James Mattis, former Chief of Staff John Kelly and sitting Republican Sen. Lisa Murkowski, pledging to see the latter unseated during her next election. Trump said he will campaign against Murkowski and endorse a candidate who challenges her. Earlier on Thursday, Murkowski said that she is “struggling” with whether to support the president in the upcoming election. “Few people know where they’ll be in two years from now, but I do, in the Great State of Alaska (which I love) campaigning against Senator Lisa Murkowski. She voted against HealthCare, Justice Kavanaugh, and much else,” Trump tweeted.


“Get any candidate ready, good or bad, I don’t care, I’m endorsing. If you have a pulse, I’m with you!” Trump also tweeted the text of a note in which his former attorney John Dowd excoriated James Mattis, the former Defense Secretary who on Wednesday issued a scathing rebuke of the president. The president urged people to read the note that Dowd wrote lambasting Mattis. “Perhaps, your anger is borne of embarrassment for your own failure as the leader of Central Command,” Dowd said to Mattis in the note.

And Trump’s former Chief of Staff John Kelly did not escape the president’s fiery criticism on Thursday either. The Washington Post quoted Kelly disputing Trump’s claim that he fired Mattis and requested his resignation. “The president did not fire him. He did not ask for his resignation,” Kelly said. “The president has clearly forgotten how it actually happened or is confused. The president tweeted a very positive tweet about Jim until he started to see on Fox News their interpretation of his letter. Then he got nasty. Jim Mattis is an honorable man.” Trump lobbed several tweets about Kelly, including one in which he said Kelly “was totally exhausted by the job, and in the end just slinked away into obscurity.”

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Rosenstein has resolved not to go quiet.

Rosenstein Slams McCabe, Obstruction Theories, 1000 Former Prosecutors (Turley)

Yesterday, we did our first live blogging on a hearing with former Deputy Attorney General Rod Rosenstein. There was a lot of broken china after the hearing was over. Indeed, the most interesting aspect was that some of the greatest damage for the Democratic narrative occurred during ill-considered questions from Sen. Mazie Hirono (D., HI) who elicited a series of answers supporting the Trump Administration and the purpose of further hearings. Rosenstein ultimately supported the need for further investigations into FBI misconduct, supported the Durham investigation, categorically dismissed claims that Trump committed obstruction of justice, and most importantly stated that he would not have signed off on the continued surveillance under the FISA for Carter Page if he knew the truth about claims of Russian collusion.

That was just a few of the highlights. He also dismissed objections from former FBI Deputy Director Andrew McCabe and the “1000 prosecutors” who were so widely cited as claiming that there was clear criminal conduct by Trump. The most important moment came at the beginning of Rosenstein’s testimony when he acknowledged that there were serious flaws and misconduct involved in the Russian investigation and that, if he knew then what he knows now, he would have put a stop to it, including refusing to sign off on the continued of the FISA surveillance on Page. He also repeatedly said in contradiction to the Democratic senators that he believed that there was a need for further investigation and that much more needs to be known about what occurred, including the source of “disinformation” in the Steele dossier and whether Steele was used by Russian intelligence and other sources for nefarious purposes.


On the investigation of U.S. Attorney John Durham, Rosenstein repeatedly endorsed the need to look into the entire Russian investigation and added “Attorney General Barr is trusting US attorney Durham to do that. I think that’s a reasonable decision.” Rosenstein also acknowledged that we still need to know more about the disinformation and that an investigation is warranted on the Steele dossier and other related issues.

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And now come the rest. Everyone but Obama and Biden. But that won’t save them.

The Hunt For The Origins Of The Russia Collusion Narrative (JTN)

Hollywood once gave us the Cold War thriller called “The Hunt for Red October.” And now the U.S. Senate and its Republican committee chairmen in Washington have launched a different sort of hunt made for the movies. Armed with subpoenas, Sens. Lindsey Graham, R-S.C., and Ron Johnson, R-Wis., want to interrogate a slew of Obama-era intelligence and law enforcement officials hoping to identify who invented and sustained the bogus Russia collusion narrative that hampered Donald Trump’s early presidency. And while Graham and Johnson aren’t exactly Sean Connery and Alex Baldwin, they and their GOP cohorts have a theory worthy of a Tom Clancy novel-turned-movie: The Russia collusion investigation was really a plot by an outgoing administration to thwart the new president.

[..] For much of the last two years, the exact theory that congressional Republicans held about the bungled, corrupt Russia probe — where collusion between Donald Trump and Vladimir Putin was ultimately disproven and FBI misconduct was confirmed — was always evolving. But after explosive testimony this week from former Deputy Attorney General Rod Rosenstein, who openly accused the FBI of keeping him in the dark about flaws, failures and exculpatory evidence in the case, the GOP believes it may prove the Russia case was a conspiracy to use the most powerful law enforcement and intelligence tools in America to harm Trump.

[..] “There are millions of Americans pretty upset about this,” Graham said this week. “There are people on our side of the aisle who believe this investigation, Crossfire Hurricane, was one of the most corrupt, biased criminal investigations in the history of the FBI. And we’d like to see something done about it.” Graham tried to take action to approve 50-plus subpoenas from the Senate Judiciary Committee to witnesses on Thursday but was forced to delay a week. Johnson, meanwhile, successfully secured about three dozen subpoenas to get documents and interviews with key witnesses from his Senate Homeland Security and Governmental Affairs Committee.


Evidence is growing, Johnson said, that there was not a “peaceful and cooperative” transition between the Obama and Trump administrations in 2017. “The conduct we know that occurred during the transition should concern everyone and absolutely warrants further investigation,” he said. With Rosenstein’s testimony now behind them, the senators have some lofty targets for interviews or testimony going forward, including fired FBI Director James Comey, his deputy Andrew McCabe, ex-CIA Director John Brennan, and the former chiefs of staff for President Barack Obama and Vice President Joe Biden.

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