Apr 242021
 


John La Farge Girls Carrying a Canoe, Vaiala in Samoa 1891

 

India COVID Triple-Mutant May Be Much More Deadly, Resistant To Vaccines (ABI)
The West Does Not Have Any Moral High Ground Over China (OpIndia)
No Doctor, You’re Wrong (Denninger)
Big Pharma Employs Army Of Lobbyists To Block Generic Covid-19 Vaccines (IC)
Cuomo Blocks Release Of Covid Nursing Home Data Sent To Feds (NYP)
Putin Invites Zelensky To Moscow For Discussions On ‘Bilateral Relations’ (RT)
Pentagon Deploys More Forces to Afghanistan Over Fears of Taliban (Antiwar)
Biden’s Plan To Create Over 10 Million Well-Paying Jobs With His Clean Energy Initiative
Bitcoin Leads Massive Cryptocurrency Market Sell-off (RT)
Big Banks Charged Billions in Overdraft Fees During Pandemic (Pros.)
The Heroic Congressional Fight to Save the Rich (Taibbi)
Plato, Aristophanes and Aristotle on Money-Lust (Michael Hudson)
Anyone Still Wearing A Mask At This Point Is Probably Just Super Ugly (BBee)

 

 

 

 

“..two triple-mutant varieties..”, an “immune escape variant”.

India COVID Triple-Mutant May Be Much More Deadly, Resistant To Vaccines (ABI)

Scientists found two triple-mutant varieties in patient samples in four states: Maharashtra, Delhi, West Bengal, and Chhattisgarh. Researchers in the country have dubbed it the “Bengal strain” and say it has the potential to be even more infectious than the double-mutant variant. This is because three COVID variants have merged to form a new, possibly deadlier variant. The Times of India spoke to Vinod Scaria, a researcher at the CSIR-Institute of Genomics and Integrative Biology in India, who said that the triple mutant was also an “immune escape variant” – a strain that helps the virus attach to human cells and hide from the immune system.


He added that it could have evolved from the double-mutant variant – which experts say is likely behind the recent surge of COVID in the country . Sreedhar Chinnaswamy, a researcher from the National Institute of Biomedical Genomics in India, told the Times of India that the variant also carried the E484K mutation, a characteristic found in both the South African and Brazilian variants. “In other words, you may not be safe from this variant even if you were previously infected by another strain, or even if you have been vaccinated,” said Chinnaswamy.

Read more …

View from India. Talk about condescending language:

Merkel said, “Of course, we have only allowed India to become such a large pharmaceutical producer in the first place, also from the European side, in the expectation that this should then also be complied with.”

The West Does Not Have Any Moral High Ground Over China (OpIndia)

The United States of America has projected its geopolitical rivalry with China as a great conflict between good and evil, between liberty and tyranny. The USA and other western countries claim to care a great deal about human rights but quite clearly, they do not care enough about the human right to life. If Covid-19 has taught us anything, it’s that western emphasis on human rights is one humoungous farce. At a time when India is suffering a tragedy dealing with the pandemic, western countries have chosen to offer sermons and lectures instead of sympathy and support. German Chancellor Angela Merkel issued veiled threats on Thursday. Amidst the second wave of the Covid-19 pandemic, she said that there are concerns that India will not be able to meet pharmaceutical demands in her country and they will have to ‘rethink’ their policies should that be the case.

Merkel said, “Of course, we have only allowed India to become such a large pharmaceutical producer in the first place, also from the European side, in the expectation that this should then also be complied with. If that is not the case now, we will have to rethink.” But Germany is not the only country that has been making such insensitive remarks. The USA has enforced an embargo on the export of raw materials essential for the production of Covid-19 vaccines, which jeopardised vaccine production in India. CEO of the Serum Institute of India (SII), Adar Poonawalla, appealed to the Biden administration to lift the embargo but to no effect. When asked about the matter, State Department spokesperson Ned Price said, “We have a special responsibility to the American people.”

“It’s, of course, not only in our interest to see Americans vaccinated, it’s in the interests of the rest of the world to see Americans vaccinated,” he said. “Number one, we have a special responsibility to the American people. Number two, the American people, this country has been hit harder than any other country around the world — more than 550,000 deaths, tens of millions of infections in this country alone,” Price added. The western media, which demonises India over its nationalist concerns, does not see any dichotomy with the approach by the USA and has been remained conspicuously silent over the matter. US concerns are understandable but it is starkly at odds with what it preaches to other countries.

Read more …

Fun with numbers:

“..your base survival rate was not 98% since that presumes you got infected — it was in fact 99.8% like you would survive the year without dying from Covid to start with!”

No Doctor, You’re Wrong (Denninger)

In addition people love to mix relative and absolute risk to deceive people on a regular basis and in every case doing so is a fraud. This was repeatedly done in “selling” the vaccines to the public. You must compare like with like or you’re lying. For example if the risk of death if you do not get the vaccine is 1/50 (2%) and the risk if you DO get the vaccine is 1/500 (0.2%) then while it is true that your risk of dying has been cut by 90% you only had a 2% risk of dying if infected in the first place. That is, you were going to survive 98% of the time; now you will survive 99.8%. That sounds like a fabulous improvement except if only 10% of the people got the infection in a year with no vaccine to start with then your base survival rate was not 98% since that presumes you got infected — it was in fact 99.8% like you would survive the year without dying from Covid to start with!

That is there’s only an 0.2% risk of death that can possibly be improved upon! Thus you must now rate the risk of the vaccine doing evil things to you against the 2/1,000 chance of death, not 2/100 since if you get stabbed that risk is certain where infection is not. But for those who are not morbid isn’t 2/100 — in fact the absolute risk if you are infected and not particularly morbid is, by the CDC, 1/50,000. This is confirmed by the NY Coroner data, which when back-computed winds up in approximately the same place; for statistical purposes they are the same, and that is good because independent confirmation from actual “boots on the ground” in confirmation of a theoretical framework provides assurance that the “best guess” is likely close to reality. Thus I am quite comfortable with that number.

The CDC also says that about 10% of the population (~33 million, approximately) people got Covid-19 in that they “tested positive” for it. I do not believe that number because it is based on PCR testing with extremely high Ct values and we know that results in lots of false positives. But assuming it is correct this means that the actual risk across one year is not 1/50,000 it is 1/500,000 since you’re only 10% likely to have gotten the infection. Again, this is by the CDC data, not my data. Note that if 2/3rds of those “positives” are false then the risk of death for a non-morbid person over a year would be approximately 1/1,250,000. These are vanishingly small odds. The CDC and so-called “experts” are all started out saying that the blood clot risk was 1-in-1,000,000.

Well, that appears to have been blatantly false too as the data on the mRNA shots says it’s far more-likely than that and that it is not confined to the J&J vaccine. As more data comes in it appears that risk is more like 1in 100,000-250,000. That’s a huge change and until it stabilizes, which will take several more months, I have no confidence in any of these figures whatsoever. I remind you that the difference between the jab and infection is that the risk from the jab is assured if you take it while the risk from infection it only occurs if you get the virus, which by the CDC again was 10% over the first year and will fall each year thereafter with successive reductions in those who are not immune either by vaccination or infection.

Read more …

“Currently, only 1 percent of coronavirus vaccines are going to low-income countries..”

Big Pharma Employs Army Of Lobbyists To Block Generic Covid-19 Vaccines (IC)

The pharmaceutical industry is pouring resources into the growing political fight over generic coronavirus vaccines.Newly filed disclosure forms from the first quarter of 2021 show that over 100 lobbyists have been mobilized to contact lawmakers and members of the Biden administration, urging them to oppose a proposed temporary waiver on intellectual property rights by the World Trade Organization that would allow generic vaccines to be produced globally. Pharmaceutical lobbyists working against the proposal include Mike McKay, a key fundraiser for House Democrats, now working on retainer for Pfizer, as well as several former staff members to the U.S. Office of Trade Representative, which oversees negotiations with the WTO.

Several trade groups funded by pharmaceutical firms have also focused closely on defeating the generic proposal, new disclosures show. The U.S. Chamber of Commerce, the Business Roundtable, and the International Intellectual Property Alliance, which all receive drug company money, have dispatched dozens of lobbyists to oppose the initiative.The push has been followed by a number of influential voices taking the side of the drug lobby. Last week, Sen. Thom Tillis, R-N.C., released a letter demanding that the administration “oppose any and all efforts aimed at waiving intellectual property rights.” Howard Dean, the former Democratic National Committee chair, has similarly criticized the proposal, echoing many of the arguments of the drug industry.

Currently, only 1 percent of coronavirus vaccines are going to low-income countries, and projections show much of the world’s population may not be vaccinated until 2023 or 2024. In response, a coalition of countries, led by India and South Africa, have petitioned the WTO to temporarily suspend intellectual property rights on coronavirus-related medical products so that generic vaccines can be rapidly manufactured. The waiver requests a suspension of IP enforcement under the Trade-Related Aspects of Intellectual Property Rights, or TRIPS, treaty. If granted, local pharmaceutical plants could be granted compulsory licenses to produce coronavirus vaccines without the threat of being sued by the license holder.

Read more …

Just get rid of the man.

Cuomo Blocks Release Of Covid Nursing Home Data Sent To Feds (NYP)

Gov. Andrew Cuomo’s office won’t reveal what it told the Justice Department about COVID-19 outbreaks in nursing homes, rejecting Freedom of Information requests from The Post and other media outlets — claiming in part that doing so would be an “invasion of personal privacy.” “Please be advised that portions of the records that respond to your request are exempt from disclosure pursuant to Public Officers Law § 87(2)(b) because, if disclosed, would constitute an unwarranted invasion of personal privacy,’” Jaclyn Clemmer, the governor’s record access officer, wrote in a denial response to The Post. The Associated Press received a similar denial letter.

Clemmer didn’t explain whose privacy might be invaded, or how. The Post did not request any personal ID information of nursing home residents. She also said the records sought were exempt from public disclosure because the release would “interfere with law enforcement investigations.” The Justice Department last year requested that New York and other states turn over data regarding COVID-19 infections and deaths inside nursing homes. The US Attorney’s Office in Brooklyn and the state Assembly Judiciary Committee are also investigating claims that the Cuomo administration intentionally undercounted or lied about the number of nursing home residents killed by COVID.

Federal prosecutors initiated a probe after The Post exclusively revealed in February that Cuomo’s top aide, Melissa DeRosa, privately admitted to state Democratic lawmakers that his administration withheld the total nursing home death toll from COVID-19 from them due to a pending federal probe. Just weeks before, state Attorney General Letitia James issued a stinging report that found Cuomo officials undercounted the COVID-linked deaths of New York’s nursing home residents by 50 percent. Within hours, a defensive state Health Department Commissioner Howard Zucker added thousands to the death toll.

Read more …

Troops gone, Zelensky dismantled, Putin winning.

Putin Invites Zelensky To Moscow For Discussions On ‘Bilateral Relations’ (RT)

Russian President Vladimir Putin has revealed that he is ready to welcome his Ukrainian counterpart Volodymyr Zelensky “at any convenient time in Moscow.” The suggestion comes after Kiev offered to meet in war-torn Donbass. Speaking before talks with Belarusian President Alexander Lukashenko on Thursday, Putin said Zelensky should first discuss the problems of Donbass with the heads of the self-proclaimed Donetsk and Lugansk People’s Republics before speaking with representatives of third countries. He included Russia in this category. “And if we are talking about the development of bilateral relations, then, please, we will receive the president of Ukraine in Moscow at any time convenient for him,” Putin said. “If President Zelensky wants to start restoring relations, Russia will only welcome it.”

The Russian leader’s statement comes after Zelensky suggested a summit “anywhere in the Ukrainian Donbass where the war is going on,” earlier this week. “Ukraine and Russia, despite their shared past, look to the future in different ways. We are us. You are you,” Zelensky said. “But this is not necessarily a problem; it is an opportunity. At the very least, an opportunity, before it is too late, to stop the murderous mathematics of future war losses.” [..] the self-declared Donetsk (DNR) and Lugansk People’s Republics (LNR) – are unrecognized by both Russia and Ukraine. However, according to Kiev, they are under the control of the Kremlin, a charge Moscow denies. Following Zelensky’s invite to Putin, the heads of both the DNR and LNR invited the Ukrainian leader to meet and hold talks in Donbass, suggesting he deals directly with them instead.

“I urge you, Mr. Zelensky, not to invite the leaders of third countries to the line of contact, but rather to go there yourself for an honest and open conversation with us,” said Denis Pushilin, the leader in Donetsk.

Read more …

They will never leave.

Pentagon Deploys More Forces to Afghanistan Over Fears of Taliban (Antiwar)

The US is deploying additional forces to Afghanistan and the surrounding regions to aid in President Biden’s plan to withdraw all combat troops by September 11th. Since Biden broke the US-Taliban peace deal by extending the withdrawal deadline, attacks against US forces in Afghanistan could start up again after May 1st, the original pull-out deadline. The Pentagon said that Secretary of Defense Lloyd Austin approved the deployment of a number of B-52 bombers to Afghanistan, two of which already arrived. Austin also ordered the aircraft carrier USS Dwight D. Eisenhower to stay in the Gulf region. “It would be foolhardy and imprudent not to assume that there could be resistance and opposition from the Taliban,” Pentagon spokesman John Kirby told reporters on Friday.


On Thursday, the Taliban said it’s “too early” to say if they will start attacking US and NATO forces after May 1st, although the group has warned of “consequences” for Biden’s failure to meet the withdrawal deadline. February 8th marked the first full year that no US troops died in combat in Afghanistan since the war started. President Biden’s decision to extend the withdrawal deadline does little but risk US casualties. President Biden said he wants all troops out of Afghanistan by September 11th, but questions remain over the presence of Pentagon contractors, and US military officials have made clear that they want to maintain the ability to bomb targets in the country.

Read more …

Cui bono?

Biden’s Plan To Create Over 10 Million Well-Paying Jobs With His Clean Energy Initiative

President Joe Biden’s proposed $2.3 trillion infrastructure plan is working its way through Congress. Biden’s primary goals are to improve and rebuild the nation’s deteriorating highways, bridges, tunnels, hospitals, airports, water systems, electricity grids and other important structures, while also saving the environment and creating millions of new jobs in the green and clean energy space. Biden is calling for solar and wind industries to become the new leaders of the U.S. economy. A big part of his “Build Back Better” program entails developing a “modern, resilient climate infrastructure and clean energy future that will create millions of good-paying union jobs.”

According to Biden’s green energy jobs plan, there are already three million people in the United States presently employed in the clean energy economy. Wind turbine service technician is No. 1 on the list of the fastest-growing occupations, as per the U.S. Bureau of Labor Statistics. Solar panel installers are in third place. “But, that is only the beginning of what is possible if we harness all of our talent and creativity,” Biden’s plan reads. “If executed strategically, our response to climate change can create more than 10 million well-paying jobs in the United States that will grow a stronger, more inclusive middle class enjoyed by communities across the country, not just in cities along the coasts.”

[..] Here are some of the examples how it will be accomplished. “This target prioritizes American workers. Meeting the 2030 emissions target will create millions of good-paying, middle class, union jobs—line workers who will lay thousands of miles of transmission lines for a clean, modern, resilient grid; workers capping abandoned wells and reclaiming mines and stopping methane leaks; autoworkers building modern, efficient, electric vehicles and the charging infrastructure to support them; engineers and construction workers expanding carbon capture and green hydrogen to forge cleaner steel and cement; and farmers using cutting-edge tools to make American soil the next frontier of carbon innovation.”

“The U.S. can create good-paying jobs and cut emissions and energy costs for families by supporting efficiency upgrades and electrification in buildings through support for job-creating retrofit programs and sustainable affordable housing, wider use of heat pumps and induction stoves, and adoption of modern energy codes for new buildings. The U.S. will also invest in new technologies to reduce emissions associated with construction, including for high-performance electrified buildings.” While new jobs may be added, there are concerns over workers who may lose their livelihoods. CBS News reported, “The oil sector is still the largest employer in the energy field.” Before the pandemic, there were more than 600,000 workers employed in the oil industry. Natural gas, fracking and coal-related positions account for hundreds of thousands of jobs that could be in jeopardy.

Read more …

Taxation fears?

Bitcoin Leads Massive Cryptocurrency Market Sell-off (RT)

The cryptocurrency market fell sharply on Friday amid concerns over new taxes that could be unveiled by US President Joe Biden, and after one of Turkey’s largest crypto exchanges went bust. The most popular cryptocurrency, bitcoin, fell below its key psychological threshold of $50,000 on Friday morning. As of 07:05 GMT bitcoin was down nearly 10% percent to trade at around $48,800, according to CoinDesk data. The drop has stalled bitcoin’s enormous rally, and it’s currently heading for the biggest weekly drop since February. The slide also sees bitcoin losing its market dominance. According to the data from price-tracking website CoinGecko, the ratio of bitcoin’s value to the overall crypto market cap has fallen below 50%. Other top crypto assets also took a dive on Friday. Second-largest cryptocurrency ethereum faced similar losses to bitcoin and was trading at $2,215.


The sharp drop came less than 24 hours after the currency hit a new all-time high. Ripple’s XRP saw the biggest drop among the top 10 cryptocurrencies. The third-largest digital currency plunged almost 20%. The drops came hours after reports emerged that President Biden was planning to raise taxes on the wealthiest Americans. According to the plan, capital gains taxes may be nearly doubled for people earning more than $1 million, triggering concerns that it will affect gains from digital assets. Other bad news weighing on the crypto market happened earlier this week, when Turkish cryptocurrency exchange Thodex abruptly halted its trading operations, while its CEO Faruk Fatih Ozer left the country. The company said that it needed five working days to resume operations, but hundreds of thousands of investors fear that their assets may be lost.

Read more …

What kind of society allows this?

Big Banks Charged Billions in Overdraft Fees During Pandemic (Pros.)

Last week, the country’s largest banks announced their quarterly earnings, crushing estimates and expectations nearly across the board. It marked another surprisingly profitable quarter in what’s become quite a run since the coronavirus hit the U.S. over a year ago. Banks, to the surprise of nobody, have been among the first American institutions to recover, and have done so dramatically. Millions of working people lag behind. One of the more unheralded profit centers that has driven that money train is the return of overdraft fees. In the last three months of 2020, 12 of the 15 largest American banks, all of them with consumer-facing banking operations, reaped huge revenue just from slapping overdraft fees on needy and vulnerable Americans during the very worst days of the pandemic.

JPMorgan Chase, for example, made a stunning $1.5 billion in revenue on overdraft alone in 2020, according to recent FDIC filings. During that same period, Bank of America made $1.1 billion in profits, and Wells Fargo made $1.3 billion. The final three months of 2020, when the pandemic was at its most widespread and deadliest, were also the year’s most profitable, with all three of those banks pulling down over $300 million just in overdraft fees. So while Americans suffered through the worst wave of our worst public-health crisis in 100 years, with unemployment sky-high and intermittently lapsed federal benefits, the country’s biggest banks were gouging the poorest Americans for billions of dollars in punitive fees.

“Banks could’ve capped overdraft fees for a certain number of months, or had no fees during the pandemic, but they didn’t want to give up a dollar of overdraft revenue in any formal way,” said Rebecca Borné, senior policy counsel at the Center for Responsible Lending. “So what we see now is a return to business as usual, where our largest banks each took over a billion dollars out of the checking accounts of people during one of the worst years in our history. It’s a gobsmacking amount of money.” Overdraft is essentially a forced high-cost payday loan. When a bank customer overdraws their account, they can still pay for whatever put them over the limit, but they are assessed an overdraft fee, typically around $35, for the privilege. That is often imposed on an overdrafted amount of money even much smaller than that, and can be repeated every day that an account remains overdrawn. The other option would be to deny transactions based on nonsufficient funds, but that wouldn’t make the bank any money.

This uniquely profitable part of the banking sector almost exclusively targets the very poor. According to a 2017 study by the Consumer Financial Protection Bureau, 5 percent of all accounts have over 20 overdrafts a year, which produce 63.3 percent of all overdraft fees paid by consumers. Another 4.2 percent of bank accounts have over ten overdrafts a year and make up more than 15 percent of fees paid by consumers. Overdraft is a particularly pernicious form of predatory financial activity, functionally more exploitative and expensive than what we call the “alternative” financial sector of payday loans and check-cashing stores. As University of California, Irvine professor Mehrsa Baradaran writes in her book How the Other Half Banks, “If you consider the fee as a payment the customer makes for the extension of credit for the overdrawn amount, a 2008 Federal Deposit Insurance Corporation (FDIC) study showed that these fees carry an effective APR in excess of 3,500 percent!”

Read more …

“He did it for all the wrong reasons,” says David Sirota of The Daily Poster, “but it was the one progressive thing he ever did.”

The Heroic Congressional Fight to Save the Rich (Taibbi)

Josh Gottheimer, Democrat of New Jersey, made an inspired plea recently. The Harvard man and Alpha Epsilon Pi brother is a member of the so-called “SALT caucus,” a group of congressfolk threatening to hold up Joe Biden’s infrastructure bill if it doesn’t include a full repeal of a Donald Trump-imposed $10,000 cap on deductions of state and local taxes. “It is high time that Congress reinstates the state and local tax deduction, so we can get more dollars back into the pockets of so many struggling families,” intoned Gottheimer, one of 32 members of the SALT caucus, which includes 8 Republicans. Pressure on Biden to repeal the SALT cap has been amping up, mainly from tri-state Democrats like Gottheimer, fellow New Jerseyan Bill Pascrell, and Tom Suozzi of New York.

“No SALT, no deal!” the trio power-tweeted a few weeks back. Just a few days ago, Gottheimer even came up with a new way to argue the plan, offering to pay for the repeal of the SALT cap by increasing audits. “There is a way to do this by going after what people owe already,” he said. The effort by the “SALT caucus” to hold a $2 trillion relief bill hostage in order to help what they’re calling “struggling families” in the “middle class” is just the latest development in a years-long saga revealing Congress at its phoniest and most shameless. This issue that “means so much to the American people,” according to House Speaker Nancy Pelosi, is really a niche matter concerning a sliver of the most well-off Americans in a handful of blue states, who were made the target of a political prank of sorts by the Trump administration in 2017.

There are a lot of people who own homes in blue states, could use the deduction, probably don’t think of themselves as rich, and would balk at the idea that repealing the cap would be a luxury giveaway. The story has been framed in the press as more of an everyman issue, and the fact that most of the money at stake involves people at the very top of the curve has been obscured. The start of this story was classic Trump. Looking for ways to help pay for his own monster tax break at the end of 2017, the Donald decided to poke Democrats with a long stick, via the cap on the unlimited state and local tax deduction. “He did it for all the wrong reasons,” says David Sirota of The Daily Poster, “but it was the one progressive thing he ever did.”

Economist Stephen Moore, who advised Trump, called the cap “Death to Democrats.” On October 11th, 2017, Trump explained to an approving Sean Hannity that he, Trump, was just trying to help states with fiscal problems help themselves. Note the loving repetition here of the word, “borrowing”: “You know, you have some really well-run states that have very little borrowing. Some have no borrowing, very little borrowing. And it’s unfair that a state that is well-run is really subsidizing states that have been horribly mismanaged. I won’t use names, but we understand the names. But there are some states that have hundreds of millions and billions of dollars in borrowing.”

Read more …

Very long, but hey, from Michael Hudson!

Plato, Aristophanes and Aristotle on Money-Lust (Michael Hudson)

Delphi’s warning that lust for monetary silver (philarguria) was the only thing that could destroy Sparta was echoed by Plato, Socrates and other philosophers accusing wealth addiction of leading to greedy and hubristic behavior that impoverished society at large. Creditors were singled out for reducing debtors to bondage and taking their land. Near the outset of Plato’s Republic (1 at 331c-d, written c. 380 BC), Socrates (who was put to death nearly twenty years earlier, in 399) discusses the morality of repaying debts in circumstances where this would lead to anti-social consequences. Cephalus, a businessman living in the commercial Piraeus district, states the typical ethic that it is fair to pay back what one has borrowed.

Socrates asks if it would be just to return weapons to a man who has become a lunatic. If a madman is intent on murder, Socrates asks, will not returning his weapon to him enable him to commit unjust acts? In view of the likely adverse social consequences, paying back such a creditor would be the wrong thing to do. It all depends on what creditors will do with their returns, and how their actions affect society. Book 8 of the Republicelaborates upon this discussion, describing how wealth leads its owners to act in ways detrimental to society.

In contrast to 20th-century price theory assuming diminishing enjoyment or “marginal utility” for each additional unit of a specific consumer good, Greek philosophy saw monetary wealth as being insatiable, becoming more addictive and compulsive. In Aristophanes’ last play, Ploutos(written in 388), the character Karion observes that one may become over-satiated with food – bread, sweets, cakes, figs and barley – but no one ever has enough wealth. His friend Chremelos (the root of whose name is chrema, exchange value and hence money-wealth) observes:

Give a man a sum of thirteen talents,

and all the more he hungers for sixteen.

Give him sixteen, and he must needs have forty,

or life’s not worth living, so he says. (lines 189- 93)

Read more …

“.. if you’re still wearing a mask at this point, let’s be honest: you probably have a very homely face,” said Dr. Vance Ryder, a very handsome doctor not wearing a mask. ”

Anyone Still Wearing A Mask At This Point Is Probably Just Super Ugly (BBee)

A new study found that anyone still wearing a mask at this point is probably just super ugly. The study looked at thousands of Americans still wearing masks and thousands who have long since thrown away all their masks. The findings were conclusive: the vast majority of people who still choose to wear a mask everywhere they go were much uglier than those who are currently blessing the world by letting everyone see their beautiful faces. “Look, the vaccine is out there, numbers are way down, your risk of dying is very, very low — if you’re still wearing a mask at this point, let’s be honest: you probably have a very homely face,” said Dr. Vance Ryder, a very handsome doctor not wearing a mask.


“You might have what we call a ‘face for radio’ in the business, if you know what I’m saying.” “Like, let’s just be honest here. We’re not gonna judge you. If you want to keep wearing the mask because you have a sad, no-good, loser face, fine. No one is going to stop you. Just don’t keep pushing for mask mandates for those who have incredibly good-looking faces.” The study also found that those who no longer wear a mask are tremendous, beautiful, “maybe the best-looking people of all time.”

Read more …

 

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Plagiarism

 


Leonardo 1489


Mars 2021

 

 

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Oct 192018
 
 October 19, 2018  Posted by at 9:12 am Finance Tagged with: , , , , , , , , , ,  7 Responses »


Paul Gauguin Horsemen on the beach 1902

 

Implosion of Stock Market Double-Bubble in China Hits New Lows (WS)
Trump Trade War Forces Beijing To Retreat From Its Anti-Debt Battle (CNBC)
Italy’s Debt Crisis Thickens (DQ)
Italian Bond Yields Spike To 4-Year Highs As EU Slams New Budget Plan (CNBC)
EU Leaders Ready To Help May Sell Brexit Deal To Parliament (G.)
Tory MP Calls UK Government ‘A Shitshow’ (Ind.)
Greens Surge Across Europe As Centre-Left Flounders (G.)
Male Birds Can Be Good Singers Or Good Looking, But Not Both (NS)
Jurors Urge Judge To Uphold Monsanto Cancer Ruling (G.)
World’s Smallest Porpoise Faces Extinction (AFP)
Microplastics Found In 90% Of Table Salt (NatGeo)

 

 

Tomorrow is a travel day, no posts.

 

 

Up a bit this morning, plunge protection, but Shanghai down 30% for the year. Stocks are not Xi’s worst fear, though, the housing market is, along with debt. And you wonder how this is possible with all the GDP growth numbers.

Implosion of Stock Market Double-Bubble in China Hits New Lows (WS)

Today, the Shanghai Composite Index dropped another 2.9% to 2,486.42. In the bigger picture, that’s quite an accomplishment:

• Lowest since November 27, 2014, nearly four years ago
• Down 30% from its recent peak on January 24, 2018, (3,559.47)
• Down 52% from its last bubble peak on June 12, 2015 (5,166)
• Down 59% from its all-time bubble peak on October 16, 2007 (6,092)
• And back where it had first been on December 27, 2006, nearly 12 years ago.

The chart of the Shanghai Stock Exchange Composite Index (SSE) shows the 2015-bubble and its implosion, followed by a rise from the January-2016 low, which had been endlessly touted in the US as the next big buying opportunity to lure US investors into the China miracle. Investors who swallowed this hype got crushed again:

Over the longer view, the implosion is even more spectacular. Today’s close puts the SSE back where it had first been nearly 12 years ago, on December 27, 2007. This dynamic has created a double-bubble and a double-implosion, with every recovery rally in between getting finally wiped out. The index is now down 59% from its all-time high in October 2007, the super-hype era in the run-up to the Beijing Olympics. It is not often that a stock market of one of the largest economies in the world is whipped into two frenetically majestic bubbles that implode back to levels first seen 12 years earlier – despite inflation in the currency in which these stocks are denominated.

Read more …

Betcha China’s foreign reserves are dwindling.

Trump Trade War Forces Beijing To Retreat From Its Anti-Debt Battle (CNBC)

Just as China started to come to grips with the scale of its massive debt accumulation, the impact of the trade war with the U.S. is forcing a retreat. One expert said that could prove “disastrous” for the country’s economy. Years of big-ticket investment projects helped spur double-digit growth in China’s GDP, sending the country into position as the world’s second-largest economy — trailing only the United States. The price tag, however, was a mountain of debt that needed to be drawn down as authorities refashioned growth to a more sustainable model. The plan has been to base the more mature economy on the increasing spending power of China’s rising consumer class rather than old-fashioned investments in infrastructure.

But the trade war is denting China’s economic growth and forcing a rethink in debt reduction — known as deleveraging — as authorities look for ways to juice the economy to make up for hits resulting from U.S. President Donald Trump’s tariffs on Chinese exports. Economists increasingly see future tariffs as likely to apply to all shipments from China to the United States, meaning Beijing is set to even further loosen financial taps. That’s already been seen in the form of cuts to reserve requirement ratios for banks, which set the amount of funds they must keep on hand. The recent moves mean banks have more money to lend out, stimulating the economy with more debt.

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To what extent is this Brussels teaching Rome a lesson?

Italy’s Debt Crisis Thickens (DQ)

Italy’s government bonds are sinking and their yields are spiking. There are plenty of reasons, including possible downgrades by Moody’s and/or Standard and Poor’s later this month. If it is a one-notch downgrade, Italy’s credit rating will be one notch above junk. If it is a two-notch down-grade, as some are fearing, Italy’s credit rating will be junk. That the Italian government remains stuck on its deficit-busting budget, which will almost certainly be rejected by the European Commission, is not helpful either. Today, the 10-year yield jumped nearly 20 basis points to 3.74%, the highest since February 2014. Note that the ECB’s policy rate is still negative -0.4%:

But the current crisis has shown little sign of infecting other large Euro Zone economies. Greek banks may be sinking in unison, their shares down well over 50% since August despite being given a clean bill of health just months earlier by the ECB, but Greece is no longer systemically important and its banks have been zombies for years. Far more important are Germany, France and Spain — and their credit markets have resisted contagion. A good indicator of this is the spread between Spanish and Italian 10-year bonds, which climbed to 2.08 percentage points last week, its highest level since December 1997, before easing back to 1.88 percentage points this week.

Much to the dismay of Italy’s struggling banks, the Italian government has also unveiled plans to tighten tax rules on banks’ sales of bad loans in a bid to raise additional revenues. The proposed measures would further erode the banks’ already flimsy capital buffers and hurt their already scarce cash reserves. And ominous signs are piling up that a run on large bank deposits in Italy may have already begun.

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So far the government is sticking to its plans.

Italian Bond Yields Spike To 4-Year Highs As EU Slams New Budget Plan (CNBC)

Italian sovereign debt yields hit fresh multi-year highs Friday morning, as investors grow cautious over lending to the embattled government after it unveiled new budget plans. Ten-year and 30-year bond yields — yields have an inverse relationship to a bond’s price — hit their highest levels since early 2014, according to Reuters, just hours after the European Union warned of rule breaches in Italy’s draft budget. Investors have shown concerns over Italy’s 2019 budget, which was officially sent to the EU this week for analysis. The anti-establishment and partly right-wing government in Italy plans to increase public spending in the country, sticking with campaign pledges before the general election in March this year.

There are strong concerns that the fiscal plan will derail the reduction of the country’s debt pile — which is the second largest in the euro zone, totaling 2.3 trillion euros ($2.6 trillion). Italy’s prime minister has defended its free-spending budget this week, after officials in Brussels criticized the plans and labelled it an unprecedented breach of the EU’s budgetary rules.

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Picked up the graph apart from the article. It says exactly why there won’t be a deal: it’s not possible.

EU Leaders Ready To Help May Sell Brexit Deal To Parliament (G.)

EU leaders are preparing to back Theresa May in building a “coalition of the reasonable” in the UK parliament, in a desperate bid to avoid a no-deal Brexit. Following what has been described by diplomats as a “call for help” by the prime minister at a crunch summit in Brussels, the German chancellor, Angela Merkel, stressed that the EU had to pursue “all avenues” to find a deal that can get through the Commons.“I think where there is a will there is a way,” she said. Jean-Claude Juncker, the European commission president, said: “It will be done.” He is understood to have told EU leaders that May needed “help” to sell a deal in parliament.

While ruling out major concessions, Emmanuel Macron, the French president, said it was clear that the roadblock to a deal did not lie in Brussels. A potential agreement had been derailed on Sunday when Dominic Raab, the Brexit secretary, made an unscheduled visit to Brussels to inform the EU’s chief negotiator, Michel Barnier, that May could not get an agreement past her cabinet or the DUP, on whose votes her government relies.

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A bit of honesty.

Tory MP Calls UK Government ‘A Shitshow’ (Ind.)

A Tory MP has labelled the government “a shitshow” and said he would not vote Conservative. Johnny Mercer, a former army officer, claimed his party was being run by “technocrats and managers” and labelled Theresa May’s Brexit plan a sign of a “classic professional politician”. He vowed to launch a “serious shit-fight” to stop the UK heading “towards the edge of the cliff”. The Plymouth Moor View MP launched the astonishing attack on his own party as he voiced concerns that it no longer shared his values. He told The House magazine: “The party will never really change until you have somebody who is leading the party who has won a seat and knows what it’s like to go out every weekend and advocate for what you just voted for that week.

“We’ve lost this ability to fight, to scrap for what we believe in. Until we get that art back – ultimately our core business as politicians is winning elections. That is our basic core business. “We’ve lost focus on that for some very good, very capable but ultimately technocrats and managers. That’s not what Britain’s about.” [..] in a shock admission, he said that, were he not an MP, he would not vote for the Conservatives. Asked how the Johnny Mercer who left the military in 2012 would vote now, he said: “I wouldn’t go and vote. “Just being honest, I wouldn’t vote. Of course I wouldn’t, no.” He added: “There’s no doubt about it that my set of values and ethos, I was comfortable that it was aligned with the Conservative Party. I’m not as comfortable that that’s the case any more.”

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The political center vanishes everywhere.

Greens Surge Across Europe As Centre-Left Flounders (G.)

In conservative Bavaria, the Greens doubled their vote in state elections to become the second largest party. In Belgium’s local elections they achieved record scores of more than 30% and finished first in several Brussels districts, and runners-up overall. In Luxembourg’s general election they increased their tally of MPs by 50%. The elections in three countries last weekend suggest that as Europe’s historic mainstream parties plummet in the polls and struggle to see off the far right’s challenge, for liberal-minded voters the Greens look like an answer. Offering a pro-EU stance, a humane approach to migration and clear positions on issues such as climate change, biodiversity and sustainability, Green parties in several countries are now polling higher nationally than the traditional centre-left.

“They represent a clear place where people can go who are frustrated with the traditional mainstream parties but who don’t like the far right,” said Alexander Clarkson, a lecturer in European studies at King’s College London. “They offer a very clear counter-model to the positions and arguments of parties like Germany’s AfD. Also they’ve been around for a while now, more than 40 years, and they’ve governed responsibly both locally and regionally. They kind of look like the adults in the room.”

In Germany, where the Greens partner parties from the centre-right to the hard-left in nine of the 16 state governments, recent national polling put the party ahead of the centre-left SPD, Angela Merkel’s coalition partner, with a 17%-plus share of the vote, compared with 8.9% in last year’s federal election. In the Netherlands, the GreenLeft party boosted its representation from four to 14 MPs in elections last year and has advance further since then, from 9% to a second-placed 18% in the polls.

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Fun research.

Male Birds Can Be Good Singers Or Good Looking, But Not Both (NS)

The call of a male peacock is no pleasure to listen to, but its splendid tail means it doesn’t matter. Now an analysis of more than 500 species shows that this is a common trade-off in the bird world: the best lookers aren’t the most talented singers, while the best vocalists aren’t as easy on the eye. Sexual selection is an evolutionary process that shapes traits that animals use to attract mates, and birds are well known to resort to elaborate songs and flashy feathers in the name of reproduction. To investigate which species use which traits, Christopher Cooney at the University of Oxford and his colleagues collected the songs of 518 species, and compared these with their feather colours.

In particular, they looked at how much feathers differed between the males and females of each species – a sign that sexual selection has influenced their plumage. They found that birds in which one sex has more showy plumage than the other tend to have less interesting, more monotonous songs. In species in which the males and females more closely resemble each other, the males sing longer songs over a larger range of musical notes. The reason why bird evolution favours one trait over the other is unclear. It might be that birds living in dense forests with lower visibility rely more on their songs instead of colour to attract mates, but Cooney’s analysis didn’t find any relationship between sexually selected traits and habitat.

Instead, his team think that mate-attracting traits are costly to develop, so a species tends to evolve only one. Alternatively, once one attractive trait has begun to emerge, it may simply be pointless to develop a second.

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“Why do we have a jury system if the judge can just toss it out?”

Jurors Urge Judge To Uphold Monsanto Cancer Ruling (G.)

Jurors who ruled that Monsanto caused a dying man’s cancer are fighting to uphold their landmark $289m verdict, publicly urging a judge not to overturn their decision in a groundbreaking trial. Four California jurors told the Guardian that they were shocked and angry to learn that the judge overseeing their trial had moved to throw out their unanimous verdict, which said the agrochemical corporation failed to warn consumers that its popular weedkiller product posed health risks. The ruling in August, which sparked concerns across the globe about the Roundup herbicide, included $250m in punitive damages to the plaintiff, Dewayne “Lee” Johnson, who has terminal cancer.

But San Francisco superior court judge Suzanne Bolanos stunned campaigners and jurors last week when she issued a tentative ruling on Monsanto’s appeal motion, saying she would likely grant a new trial due to the “insufficiency of the evidence”. “I was just gobsmacked and outraged. I was astonished,” Robert Howard, juror No 4, said in an interview on Thursday. “Why do we have a jury system if the judge can just toss it out?” Bolanos hasn’t yet made a final ruling, leading to an unusual public plea from the jurors and mounting pressure on the judge in recent days. Some jurors said they became emotionally invested in the trial and now felt it was their duty to advocate for their decision and fight for Johnson to receive his award.

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The list is endless. They’re all leaving.

World’s Smallest Porpoise Faces Extinction (AFP)

The near-extinct vaquita marina, the world’s smallest porpoise, has not yet disappeared from its habitat off the coast of Mexico, a research team said Wednesday after spotting six of them. The vaquita has been nearly wiped out by illegal fishing in its native habitat, the Gulf of California, and the World Wildlife Fund (WWF) warned in May that it could go extinct this year. But “all hope is not lost” for saving the species after the recent sightings, said Lorenzo Rojas of the International Committee for the Recovery of the Vaquita (CIRVA), presenting the researchers’ findings. In an 11-day study conducted in late September and early October, marine scientists spotted six vaquitas, including a calf.

The team emphasized that the study was not a full population estimate, which they will present in January after further research. In the last full population estimate, carried out in 2017, CIRVA found there were only 30 vaquitas left. Known as “the panda of the sea” for the distinctive black circles around its eyes, the vaquita has been decimated by gillnets used to fish for another species, the also endangered totoaba fish. The totoaba’s swim bladder is considered a delicacy in China and can fetch up to $20,000 on the black market. Hollywood star Leonardo DiCaprio and Mexican billionaire Carlos Slim have thrown their backing behind the campaign to save the vaquita.

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Select your salt wisely.

Microplastics Found In 90% Of Table Salt (NatGeo)

Microplastics were found in sea salt several years ago. But how extensively plastic bits are spread throughout the most commonly used seasoning remained unclear. Now, new research shows microplastics in 90 percent of the table salt brands sampled worldwide. Of 39 salt brands tested, 36 had microplastics in them, according to a new analysis by researchers in South Korea and Greenpeace East Asia. Using prior salt studies, this new effort is the first of its scale to look at the geographical spread of microplastics in table salt and their correlation to where plastic pollution is found in the environment. “The findings suggest that human ingestion of microplastics via marine products is strongly related to emissions in a given region,” said Seung-Kyu Kim, a marine science professor at Incheon National University in South Korea.

Salt samples from 21 countries in Europe, North and South America, Africa, and Asia were analyzed. The three brands that did not contain microplastics are from Taiwan (refined sea salt), China (refined rock salt), and France (unrefined sea salt produced by solar evaporation). The study was published this month in the journal Environmental Science & Technology. The density of microplastics found in salt varied dramatically among different brands, but those from Asian brands were especially high, the study found. The highest quantities of microplastics were found in salt sold in Indonesia. Asia is a hot spot for plastic pollution, and Indonesia—with 34,000 miles (54,720 km) of coastline—ranked in an unrelated 2015 study as suffering the second-worst level of plastic pollution in the world.

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