Mar 282024
 
 March 28, 2024  Posted by at 9:55 am Finance Tagged with: , , , , , , , , ,  44 Responses »


Giotto Lamentation 1306

 

The Most Astounding Feature of the Assange Case (Paul Craig Roberts)
Rule by Criminals: When Dissidents Become Enemies of the State (Whitehead)
The Gag and the Goad: Trump Should Appeal Latest Gag Order (Turley)
George Soros Overtaken by Trump in List of World’s Wealthiest (Sp.)
Most Americans Think Biden ‘Weak’ Commander-in-Chief (Sp.)
Majority of Americans Would Not Serve in Event of Another World War (Bridge)
Biden Calls Putin ‘A Butcher’ (RT)
Talk of Russia Attacking NATO is ‘Nonsense’ – Putin (RT)
United States ‘Mocking’ International Law, Creating ‘World of the Jungle’ (Miles)
US-Israel Rift Widens Amid Tense Back-and-Forth Over Gaza War (Sp.)
Why The US Decided To Give Peace In Gaza A Chance (Blankenship)
Inmates Run NBC Asylum: Ex-RNC Chief McDaniel Fired After ‘Talent’ Mutiny (ZH)
Jon Stewart Found To Have Overvalued His NYC Home By 829% (NYP)
Macron Struggling To Justify Cash For Ukraine – Le Monde (RT)
US Supply Chains Disrupted By Baltimore Bridge Collapse (RT)

 

 

 

 

Trump ad
https://twitter.com/i/status/1772860260694261927

 

 

Dana Rogan
https://twitter.com/i/status/1772744228281688228

Rogan

 

 

 

 

https://twitter.com/i/status/1773013817187815900

 

 

KJP

 

 

 

 

Dotcom

 

 

Laura Farage

 

 

 

 

“The media organizations published the information, just as did Wikileaks, but they are not charged. Neither is Wikileaks charged. Only Julian Assange is charged..”

“Tyranny is what Julian Assange is experiencing, not a legitimate prosecution..”

“That so many dumbshit “patriots” support “getting Assange” indicates complete stupidity. “Getting Assange” means getting themselves, and they are too stupid to see it. This is how freedom is murdered.”

The Most Astounding Feature of the Assange Case (Paul Craig Roberts)

The most extraordinary thing about Julian Assange is that he is being treated as if he were an American citizen. “Treason” was the original cry, now converted to “espionage.” There was no espionage. Wikileaks published, and made available to the New York Times, The Guardian, and other media organizations leaked information. The media organizations published the information, just as did Wikileaks, but they are not charged. Neither is Wikileaks charged. Only Julian Assange is charged. Nothing is any different from Ellsberg releasing the Pentagon Papers to the New York Times. The US government wanted to prosecute both, but was prevented by the First Amendment and long-accepted duty of media organizations to hold government accountable. The stark deterioration in the protective power of the First Amendment and journalistic freedom since 1971 demonstrates the rise in tyranny. Tyranny is what Julian Assange is experiencing, not a legitimate prosecution.

Let’s carefully examine the issue of “espionage.” Espionage is a function of every embassy everywhere in the world. The purpose of embassies is not simply to represent a country’s commercial and political interests. It is also to collect information, the more sensitive the better. When embassy personnel are caught engaging in espionage, the personnel are required to leave the country. They are not prosecuted. It is well known that US embassies contain CIA agents posing as diplomats. Under the protocol governing the Assange case, Russia, China, any number of countries could arrest members of US embassies and put them on trial. Indeed, many countries could do this to one another. What prevents it is not merely good judgment, but the fact that foreign citizens are not subject to the laws of other countries. Only the US, which imagines itself as some kind of international unipower, asserts the worldwide primacy of its laws. This is an absurd claim and has no legal basis.

The orchestrated, in fact legally incorrect, case against Assange is based on nothing but Washington’s demand for revenge. Here is what Assange is guilty of: He released leaked information that showed conclusively that the United States government is a liar, a deceiver of its allies, and a war criminal. The purpose of the case against Assange is to pay him back and to intimidate all journalists from ever again publishing information unfavorable to the US government. In other words, the purpose of the Assange case is to end forever the ability of media to hold government accountable. The Assange case is the fundamental foundation for tyranny. Once it is in place, tyranny is unleashed. That so many dumbshit “patriots” support “getting Assange” indicates complete stupidity. “Getting Assange” means getting themselves, and they are too stupid to see it. This is how freedom is murdered.

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“..he spent his adult life speaking truth to power, challenging the status quo of his day, and pushing back against the abuses of the Roman Empire..”

Rule by Criminals: When Dissidents Become Enemies of the State (Whitehead)

When exposing a crime is treated as committing a crime, you are being ruled by criminals. In the current governmental climate, obeying one’s conscience and speaking truth to the power of the police state can easily render you an “enemy of the state.” The government’s list of so-called “enemies of the state” is growing by the day. Wikileaks founder Julian Assange is merely one of the most visible victims of the police state’s war on dissidents and whistleblowers. Five years ago, on April 11, 2019, police arrested Assange for daring to access and disclose military documents that portray the U.S. government and its endless wars abroad as reckless, irresponsible, immoral and responsible for thousands of civilian deaths. Included among the leaked materials was gunsight video footage from two U.S. AH-64 Apache helicopters engaged in a series of air-to-ground attacks while American air crew laughed at some of the casualties.

Among the casualties were two Reuters correspondents who were gunned down after their cameras were mistaken for weapons and a driver who stopped to help one of the journalists. The driver’s two children, who happened to be in the van at the time it was fired upon by U.S. forces, suffered serious injuries. There is nothing defensible about crimes such as these perpetrated by the government. When any government becomes almost indistinguishable from the evil it claims to be fighting—whether that evil takes the form of war, terrorism, torture, drug trafficking, sex trafficking, murder, violence, theft, pornography, scientific experimentations or some other diabolical means of inflicting pain, suffering and servitude on humanity—that government has lost its claim to legitimacy.

These are hard words, but hard times require straight-talking. It is easy to remain silent in the face of evil. What is harder—what we lack today and so desperately need—are those with moral courage who will risk their freedoms and lives in order to speak out against evil in its many forms. Throughout history, individuals or groups of individuals have risen up to challenge the injustices of their age. Nazi Germany had its Dietrich Bonhoeffer. The gulags of the Soviet Union were challenged by Aleksandr Solzhenitsyn. America had its color-coded system of racial segregation and warmongering called out for what it was, blatant discrimination and profiteering, by Martin Luther King Jr.

And then there was Jesus Christ, an itinerant preacher and revolutionary activist, who not only died challenging the police state of his day—namely, the Roman Empire—but provided a blueprint for civil disobedience that would be followed by those, religious and otherwise, who came after him. Indeed, it is fitting that we remember that Jesus Christ—the religious figure worshipped by Christians for his death on the cross and subsequent resurrection—paid the ultimate price for speaking out against the police state of his day. A radical nonconformist who challenged authority at every turn, Jesus was a far cry from the watered-down, corporatized, simplified, gentrified, sissified vision of a meek creature holding a lamb that most modern churches peddle. In fact, he spent his adult life speaking truth to power, challenging the status quo of his day, and pushing back against the abuses of the Roman Empire.

Greenwald Assange

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“Cohen’s appearance on the stand will only add to the lawfare claims given the recent view of a judge that he is a serial perjurer..”

The Gag and the Goad: Trump Should Appeal Latest Gag Order (Turley)

New York Supreme Court Justice Juan Merchan this week became the latest court to impose a gag order on former president Donald Trump with a stinging order that found a history of Trump attacks that threatened the administration of justice. The order will bar public criticism of figures who are at the center of the public debate over this trial and the allegation of the weaponization of the legal system for political purposes, including former Trump counsel Michael Cohen, former stripper Stormy Daniels, and lead prosecutor Matthew Colangelo. Trump is still able to criticize Manhattan District Attorney Alvin Bragg and Merchan himself. What is most striking is the protection of Cohen who continues to goad Trump in public attacks. While many of us have criticized past attacks by the former president of judges and staff associated with cases, theses gag orders raise very serious free speech questions in my view.

Prosecutors like Special Counsel Jack Smith and Bragg have pushed for a trial before the election. (Recently, Smith even stated that he may force Trump into a trial running up to or even through the election). After these charges were delayed until just before an election, they have maintained that it is essential to try Trump before November. The timing of charges and proposed trial dates were the choice of these prosecutors. If judges are inclined to facilitate the effort for a pre-election trial, they should show some recognition of the unique context for such prosecution. Yet, judges like federal District Judge Tanya Chutkan have stated that she will not make any accommodation for the fact that Trump is the leading candidate for the presidency. I was previously highly critical of the efforts of Smith to gag Trump before the election. In my view, the order issued by Judge Chutkan was unconstitutional. I have opposed gag orders in many cases for decades as inimical to constitutional free speech rights.

The barring of Trump from criticizing jurors or court staff (or family members) is largely uncontroversial. However, Cohen and Daniels have long been part of the political campaigns going back to 2016. Indeed, I was highly critical of Cohen when he was still the thuggish lawyer for Trump. He is now one of the loudest critics of his former client and has made continual media appearances, including on his expected appearance in this case. Cohen’s appearance on the stand will only add to the lawfare claims given the recent view of a judge that he is a serial perjurer who appears to be continuing to game the legal system. Cohen ironically went public to criticize Trump and celebrate the gagging of him: “I want to thank Judge Merchan for imposing the gag order as I have been under relentless assault from Donald’s MAGA supporters. Nevertheless, knowing Donald as well as I do, he will seek to defy the gag order by employing others within his circle to do his bidding, regardless of consequence.”

Many Americans view the Bragg case as a raw political effort and many experts (including myself) view the case as legally flawed. Some polls show that a majority now believe the Trump prosecutions generally are “politically motivated.” This election could well turn on the allegation of lawfare. However, Merchan has now largely bagged the leading candidate (and alleged target of this weaponization) from being able to criticize key figures behind the effort. The inclusion of Colangelo in the order is equally problematic. Trump has campaigned on his involvement in a variety of cases targeting him in his federal and state systems. His movement between cases is viewed by many as evidence of a “get Trump” campaign of prosecutors. He is currently the most talked about figure that many, including Trump, view as showing coordination between these cases and investigations. My opposition to past gag orders was based on the constitutional right of defendants to criticize their prosecutions. Courts have gradually expanded both the scope and use of such orders.

It has gone from being relatively rare to commonplace. However, the use to gag the leading candidate for the presidency in the final months of the campaign only magnifies those concerns. There is a division on courts in dealing with such challenges involving politicians. For example, a court struggled with those issues in the corruption trial of Rep. Harold E. Ford Sr. (D–Tenn.). The district court barred Ford from making any “extrajudicial statement that a reasonable person would expect to be disseminated by means of public communication,” including criticism of the motives of the government or basis, merits, or evidence of the prosecution. The United States Court of Appeals for the Sixth Circuit rejected the gag order as overbroad and stressed that any such limits on free speech should be treated as “presumptively void and may be upheld only on the basis of a clear showing that an exercise of First Amendment rights will interfere with the rights of the parties to a fair trial.”

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“The reconstruction was later found by a Ukrainian court to be a complete fabrication, a piece of “deliberate fraud and disinformation” that allowed Soros to interfere in Ukraine..”

George Soros Overtaken by Trump in List of World’s Wealthiest (Sp.)

Billionaire financier George Soros has been overtaken by former US President Donald Trump on Bloomberg’s index of the world’s richest people, it was revealed Tuesday. The US news outlet’s updated rankings showed the prominent liberal donor at number 378 on the list with an estimated $7.16 billion net worth. Trump was ranked just above Soros at the 377th slot in the ranking. The former US president’s net worth more than doubled this year after his Trump Media & Technology Group merged with Digital World Acquisition Corp. Trump Media & Technology Group owns and operates the real estate mogul’s Truth Social online platform, where Trump took refuge after being banned from Twitter (now X). His increased wealth also places him above figures like Home Depot founder Bernie Marcus and Netflix cofounder Reed Hastings. Soros’ net worth has changed little in recent years as the 93-year-old former hedge fund manager devotes his attention to social causes.

He’s perhaps best known in Europe as “The Man Who Broke the Bank of England;” his short sale of the British pound sterling netted him $1 billion in profit during the UK’s 1992 Black Wednesday financial crisis. The wealthy financier’s political giving has made him a controversial figure. A 1991 article in the Washington Post dubbed Soros an “overt operative” of US-backed regime change operations in Europe. Alongside US government organizations like the National Endowment for Democracy (NED), Soros funnels his massive wealth towards pro-Western activists who help bring down Russian and socialist-aligned governments. Author William Blum describes a striking example of such tactics in his 1995 classic Killing Hope. When voters returned popular socialist parties to power in post-communist Albania and Bulgaria, the NED lavished opposition groups with millions of dollars to foment political unrest. Massive protests forced the collapse of both governments, which were replaced by neoliberal parties committed to economic reforms in the interest of Western capital.

After their economies were hollowed out, Eastern European countries were then integrated into Western institutions like the European Union and NATO, further surrendering their sovereignty to leaders in Washington and Brussels. The strategy was repeated again and again over the next several years, with donors like Soros pouring millions into ostensibly “pro-democracy” causes. Soros helped fund two such “color revolutions” on Russia’s border, once during Ukraine’s so-called “Orange Revolution” in 2004 and again during the 2014 Maidan coup. In both cases elected leaders aligned with Russia were overthrown in favor of pro-Western governments that dramatically shifted Ukraine’s political allegiances. Soros’ Open Society Foundations played a key role in Ukraine’s 2014 regime change by funding a 3-D model “reconstruction” pinning the blame for a massacre of protesters at Kiev’s Maidan Square on government forces.

The rendering was touted by The New York Times and other news outlets as “proof” that President Viktor Yanukovych’s government was using deadly force to repress demonstrators, a key narrative leading to his overthrow. The reconstruction was later found by a Ukrainian court to be a complete fabrication, a piece of “deliberate fraud and disinformation” that allowed Soros to interfere in Ukraine with deadly consequences. Soros has since poured his resources into influencing US politics, funding organizations that promote censorship on social media in the name of “combatting disinformation” and lobby for sanctions on Cuba and Venezuela. In 2022 Soros was the single largest donor to Democratic Party-aligned causes, just above disgraced cryptocurrency entrepreneur Sam Bankman-Fried. The influential billionaire’s defenders often claim criticism of Soros is antisemitic, but a cursory analysis of his outsized global influence demonstrates his conduct is ripe for critique.

Mar-a-Lago

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“..the United States military entered 2024 with its smallest active duty size since the Second World War..”

Most Americans Think Biden ‘Weak’ Commander-in-Chief (Sp.)

Last week, a YouGov survey found that 61 percent of Americans think a new world war is either “very likely” or “somewhat likely” to break out over the next 5-10 years. The worrying survey results come amid continued efforts by Washington and its allies to set Eastern Europe, the Middle East, as well as East and Southeast Asia on fire. More than half of Americans believe President Joe Biden is a “weaker” commander-in-chief than his recent predecessors. According to new polling of 1,114 likely voters by Rasmussen Reports, 53 percent of likely voters think Biden is “weaker” in his capacity as chief of the military than past presidents. Some 24 percent believe he is a “stronger” C-in-C. Another 20 percent believe he’s “about the same.” The results mark a 10-point jump from polling by Rasmussen from May 2021, in which 43 percent of respondents said they thought Biden was “weaker” than other recent C-in-Cs, with 32 percent saying he was “stronger,” and 18 percent saying he was “about the same.”

More detailed polling by Rasmussen from October 2023 found that support for Biden as a military leader is particularly weak among Republicans and independents (just 15 and 20 percent of whom think he is stronger than his predecessors, respectively), with 51 percent of surveyed Democrats saying he is “stronger.” Despite plans to spend a record $886 billion on defense in the current fiscal year, the United States military entered 2024 with its smallest active duty size since the Second World War, with personnel numbers expected to drop from 1.39 million last year to 1.28 million service members now as recruiters face difficulties enticing skeptical young people to join, and existing servicemen retire amid the military’s increasingly “woke” culture, conflicts surrounding vax mandates, and falling morale following decades of illegal US wars abroad. Rasmussen’s polling comes in the wake of concerns voiced by Americans in a YouGov poll released last week that a new world war might be just around the corner.

In a survey of 1,000 US adult citizens taken between early February and early March, 22 percent of those polled by YouGov said a new global conflagration is “very likely,” with 39 percent saying it is “somewhat likely,” and just 17 and five percent saying it is “not very likely” or “not at all likely,” respectively. Some 77 percent believe that if a new world war broke out, the US would inevitably be involved, with only six percent saying the US would not be involved. Meanwhile, 72 percent said they expect Russia to also be involved, and 69 percent said that China would be involved. Americans believe their country could ally alongside the UK (67 percent), Ukraine (58 percent), and Israel (58 percent) in the hypothetical conflict. The poll also found that 45 percent of Americans believe their coalition would “win” in a conflict against both Russia and China. Only six percent of those polled said they would volunteer to fight, with nine percent saying they would fight if conscripted, 13 percent that they would refuse service, and 60 percent saying they don’t qualify. However, 16 percent said they would volunteer if the US itself was under threat of an imminent invasion.

[..] Former president and presumptive Republican presidential nominee Donald Trump has warned repeatedly in recent months that President Biden’s policies, particularly in Ukraine, have put the world “on the brink of World War III.” “The world is in tremendous danger. We’re in danger of possibly a World War III. And we have a man who’s absolutely the worst president in the history of our country – he can’t put two sentences together, he’s not going to be able to negotiate with Putin or Xi or Kim Jong Un of North Korea. Not going to be able to negotiate with anybody. All he knows how to do is drop bombs all over the place – meaningless bombs, except they kill a lot of people and cost a lot of money,” Trump said in February ahead of a Supreme Court ruling on his ability to appear on the ballot in Colorado for the 2024 presidential election.

Biden 1.7 trillion

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“..55 percent are of the opinion that a coalition made up of Moscow, Beijing and their allies would win..”

Majority of Americans Would Not Serve in Event of Another World War (Bridge)

The majority of Americans say that another world war is at least somewhat likely to break out in the next 10 years, but most say they would not enlist to serve in combat or non-combatant roles if the United States were to be involved. A new YouGov poll revealed that 22% of Americans believe it’s ‘very likely’ that there will be another world war within the next five to 10 years; 39% say it’s ‘somewhat likely.’ Broken down politically, one-third of Republicans believe it’s ‘very likely’ that there will be another world war in the next decade; 20% of Independents and 16% of Democrats agree with that statement. Despite the United States and its NATO allies depleting their military supplies at a breakneck pace in a proxy war against Russia in Ukraine, and Moscow displaying fearsome offensive powers, Americans still remain optimistic over any hypothetical war against Russia and China.

If there were to be a world war in which the U.S. and their allies were fighting against Russia, China, or both, Americans are more likely to say that the NATO member states would win than to say they would lose. However, the patriotic optimism quickly fades in the hypothetical scenario that pits both China and Russia — and their allies — against Western nations and their allies in a world war. Just 45% of Americans say the Western nations would emerge victorious, while 55 percent are of the opinion that a coalition made up of Moscow, Beijing and their allies would win. In a similar YouGov survey conducted in the UK, just 21% of British adults believe that Western forces would lose to China, Russia, and their allies in the event of a world war.

Shockingly, if a global conflagration involving the United States were to break out, just 6% of Americans say they would enlist for military service, while 9% say they would not volunteer but would serve if called up, and 13% say they would not volunteer and would refuse to serve if called up. Meanwhile, a whopping 60% say the armed forces would not attempt to draft them due to age or disability. However, in the event that the U.S. finds itself under imminent threat of invasion, the percentage of people who would volunteer for military service increases to 16%. However, 47% say that even in such extreme circumstances, they don’t think the military would want them to serve due to age or disability.

“Americans are more open to the idea of serving in non-combat roles in the event of a world war,” says Jamie Ballard, a data journalist with YouGov. “19% say they would volunteer for this type of role; 12% would not volunteer but would serve if called up. If the U.S. were under imminent threat of invasion, 26% would volunteer for non-combat service. 42% of Americans say the government would not want them for non-combat roles for reasons related to age or disability; 38% say the government would not want them to serve for these reasons even if the U.S. were under imminent threat of invasion.”

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“It’s not like he could say ‘Good job… thank you for the helping hand’. We understand what is going on there, in terms of internal politics..”

Biden Calls Putin ‘A Butcher’ (RT)

US President Joe Biden has disparaged his Russian counterpart Vladimir Putin for the second time in two months, publicly calling him a “butcher” in connection with the Ukraine conflict. Biden made the jab while speaking at a campaign event in Raleigh, North Carolina, on Tuesday. He advocated raising the average federal tax for America’s wealthiest from 8.2% to 25%, arguing that this would allow Washington to raise $400 billion over the next ten years. “Imagine what we could do with that. We could fundamentally slash the federal deficit… We could do so many things – consequential – including finally making sure that we take care of Ukraine from that butcher Putin,” he said. Biden also lashed out at the Russian president in late February, calling him a “crazy S.O.B.”

He mentioned Putin while saying that the West must be wary of a nuclear conflict, but should pay even more attention to the danger posed by climate change. At the time, Kremlin spokesman Dmitry Peskov suggested that Americans should be ashamed of a leader who indulged in such comments. “If the president of that nation uses that kind of language, that is shameful,” he said, adding that Biden may have been trying to emulate a “Hollywood cowboy” to appeal to domestic audiences. Responding to the “S.O.B.” remarks, Putin stood by his previously expressed opinion that Moscow would be better off with Biden in the White House, adding that the US President’s words only prove his point. “

It’s not like he could say ‘Good job… thank you for the helping hand’. We understand what is going on there, in terms of internal politics,” he explained. This is not the first time that Biden has labeled Putin a “butcher.” The first instance dates back to March 2022, several weeks after the start of the Ukraine conflict. Peskov suggested that such offensive comments “narrow down the window for bilateral relations” at a time when Russia-US ties have sunk to a historic low. In 2021, Biden also called Putin “a killer.” The Russian president retorted, “It takes one to know one,” following that remark.

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“The claims that we are going to attack Europe after Ukraine – it is utter nonsense and intimidation of their own population just to beat the money out of them.”

Talk of Russia Attacking NATO is ‘Nonsense’ – Putin (RT)

Moscow is not seeking a confrontation with America’s vassals in Eastern Europe, Russian President Vladimir Putin said on Wednesday. Multiple Western officials have tried to drum up support for additional aid to Ukraine by claiming that Moscow will not stop if Kiev is defeated on the battlefield. Putin addressed these claims during a visit to Torzhok air base in Tver Region. “This is just nonsense,” the Russian president said, noting the disparity in Russian defense spending and the budgets of NATO militaries. “The claims that we are going to attack Europe after Ukraine – it is utter nonsense and intimidation of their own population just to beat the money out of them.” US “satellites” in Eastern Europe have no reason to be afraid, Putin added.

Talk of a potential Russian attack on Poland, the Czech Republic, or the Baltic states is just propaganda by governments that seek to scare their citizens “to extract additional expenses from people, to make them bear this burden on their shoulders.” NATO has been expanding towards the borders of Russia, not the other way around, the president noted, adding that Russia is merely ”protecting our people on our historical territories.” “They came right up to our borders… Did we go across the ocean to the borders of the United States? No, they are approaching us, and they have come very close,” he said. Torzhok is home to the 344th Training Center for Russian combat pilots, including personnel being trained to take part in the Ukraine conflict.

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“The Americans came out after the meeting of the Security Council with something so absurd by the US ambassador saying, ‘well, this resolution is non-binding.’”

“When the United Nations Security Council is told by a permanent member, i.e., the US, that this binding resolution is non-binding, then we have a serious problem worldwide..”

United States ‘Mocking’ International Law, Creating ‘World of the Jungle’ (Miles)

The Biden administration made waves on Monday when its delegation to the UN abstained during a Security Council vote calling for a ceasefire in the besieged Gaza Strip. The act was significant as the US has vetoed three previous resolutions with similar language. The passage of the statement raised hopes that violence could finally come to an end in the enclave as Israel’s nearly seven month-long operation has left over 32,000 Palestinians dead, most of them thought to be civilians. But the US immediately backpedaled in the hours since, insisting the Security Council resolution is “non-binding.” The Biden administration’s statements have caused analysts like Elijah Magnier to conclude the country is using the UN erely to manage its relationship with Israel, damaging the authority of international law and threatening world peace in the process. The journalist offered his thoughts during a discussion on Sputnik’s Fault Lines program Tuesday.

“First of all the resolution was [drafted] with the word ‘permanent’ ceasefire, and then the Americans rejected the word ‘permanent’ and changed it with a ‘lasting’ ceasefire,” explained Magnier. “And there’s a big difference between a ‘lasting’ ceasefire and a ‘permanent’ ceasefire. A lasting ceasefire implies a cessation of hostility that is intended to be stable and enduring, but not necessarily to be part of a comprehensive peace agreement that addresses all the issues that the Israelis and the Palestinians have been fighting about since 1948.” “It also requires a mechanism of verification of the ceasefire that has not been put in place,” he noted. “The Americans came out after the meeting of the Security Council with something so absurd by the US ambassador saying, ‘well, this resolution is non-binding.’” The statement was made by White House National Security Council spokesman John Kirby during a press conference after the vote.

The Biden administration has taken pains to insist the United States’ relationship with Israel hasn’t changed in light of the UN resolution. But Magnier said such statements do great damage to the power and legitimacy of international law. “If you look at Article 25 of the UN charter, all members of the United Nations agreed to… accept and carry out the decision,” said the journalist, noting that Security Council resolutions are intended to be binding and enforced by members. “Every single US official came out to say, ‘oh, this is a non-binding resolution,’ undermining international laws.” “If these laws are not implemented we live in the world of the jungle, we don’t live in an institution and we don’t live in international law.” The veteran war correspondent, who has reported from Iran, Lebanon, Syria, Iraq, Sudan, Afghanistan, and Yugoslavia, said the erosion in international cooperation seriously threatens the world’s ability to peacefully resolve global conflicts.

“At this point I think the whole world needs something to happen because the Second World War brought the United Nations,” Magnier said. “Do we need a third World War to change the world constitution and start putting a mechanism in place where all countries should abide by international laws? Because it seems the Americans are cherry picking who can implement international laws and who cannot.” “When the United Nations Security Council is told by a permanent member, i.e., the US, that this binding resolution is non-binding, then we have a serious problem worldwide,” he added.

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“..It should be noted that Israeli Defense Minister Yoav Gallant lingered in Washington for talks with US Defense Secretary Lloyd Austin at the Pentagon..”

US-Israel Rift Widens Amid Tense Back-and-Forth Over Gaza War (Sp.)

In a headline-grabbing shift from its three previous vetoes, the US abstained from a UN Security Council vote on a resolution calling for a ceasefire in Gaza on March 25. The move was seen as feeding into a growing chasm between US President Joe Biden and Israeli Prime Minister Benjamin Netanyahu. The Biden administration is continuing to fend off backlash after deviating from its previous course and abstaining from a vote on a United Nations Security Council (UNSC) resolution demanding an immediate ceasefire between Israel and the Palestinian group Hamas in Gaza. Even though many pundits believe the abstention was no more than a posturing PR stunt, blowback has nevertheless come from Israel as well as both parties in Congress.

While a furious Prime Minister Benjamin Netanyahu canceled a high-level delegation’s trip to Washington, incensed pro-Israel House lawmakers have slammed Biden for what they see as a US policy shift away from supporting Israel. A number of both Democrats and Republicans are up in arms over the abstention. Sen. John Fetterman (D-Pa.) went on social media to post that it was “appalling” the US allowed the passage of the resolution. Rep. Josh Gottheimer (D-NJ) was similarly “shocked.” Another Democrat, Rep. Tom Suozzi (D-NY) claimed the abstention had “emboldened” Hamas. House Republican Anthony D’Esposito (R-NY) on Tuesday introduced a resolution declaring that “any resolution of the Israeli-Hamas conflict should take place only with the full cooperation and approval of Israel at each step of the process.”

It also insisted that the US “should continue to support Israel and should not attempt to force Israel to take any course of action that is against its best interest.” The flurry of reactions from lawmakers followed a diplomatic snub as Israel called off the visit of a high-level delegation to Washington. The meeting had been called at Biden’s request and was purportedly set to discuss “alternatives” to a planned Israeli offensive into Gaza’s southern city of Rafah. It should be noted that Israeli Defense Minister Yoav Gallant lingered in Washington for talks with US Defense Secretary Lloyd Austin at the Pentagon. After the meeting, Gallant said Israel’s “goals are simple: We need to destroy Hamas as a military and governing organization in Gaza… It means that the military framework must be destroyed.”

Albanese
https://twitter.com/i/status/1772923297656947036

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“..Should the US allow Israel to destroy the last remaining Palestinian holdout in Gaza, Biden will almost certainly lose the 2024 presidential election to Donald Trump.”

Why The US Decided To Give Peace In Gaza A Chance (Blankenship)

In a historic move on Monday, the United Nations Security Council (UNSC) achieved a breakthrough by passing a binding resolution aimed at securing a “lasting, sustainable ceasefire” in Gaza and advocating the release of all hostages held by Hamas since the October attacks on Israel last year. This momentous step forward in international diplomacy signals a potential turning point in the protracted Israeli-Palestinian conflict, offering a glimmer of hope for peace in a region long plagued by violence and discord. The decision by the UNSC comes after several failed attempts to broker a ceasefire. It underscores the growing global consensus on the urgent need to address the root causes of the conflict and pave the way for a peaceful settlement. The resolution, which was passed with overwhelming support from the international community, reflects a shared commitment to upholding international law and promoting stability in the region.

The US, traditionally a staunch ally of Israel, notably abstained from vetoing the resolution this time, signaling a shift in its approach and a willingness to engage constructively in multilateral efforts to end the violence – though it has said that it does not represent a change in policy. This decision reflects a recognition of the need for a balanced approach that takes into account the legitimate concerns and aspirations of both Israelis and Palestinians. With the UNSC resolution now enshrined as international law, all UN member states are bound by its provisions, setting a clear mandate for concerted action to implement its objectives. This presents a unique opportunity for diplomatic initiatives and coordinated efforts to de-escalate tensions, rebuild trust, and create the conditions necessary for lasting peace and stability in the region. However, despite the optimism surrounding the UNSC resolution, significant challenges remain on the path to peace.

The Israeli government, led by Prime Minister Benjamin Netanyahu, has vowed to carry out operations in Rafah, a densely populated area where millions of displaced Palestinians now reside. This escalation threatens to further exacerbate tensions and undermine efforts to achieve a ceasefire and pave the way for meaningful negotiations. Moreover, Israel’s position as a key strategic ally of the United States poses a dilemma for Washington, which has long maintained unwavering support for Israel’s security and sovereignty. While the US remains committed to its alliance with Israel, the changing geopolitical landscape and evolving strategic priorities have complicated its stance on the conflict. The Biden administration faces pressure from both domestic and international stakeholders to balance its support for Israel with a commitment to upholding international law and promoting peace in the Middle East. Should the US allow Israel to destroy the last remaining Palestinian holdout in Gaza, Biden will almost certainly lose the 2024 presidential election to Donald Trump.

Additionally, relations with Muslim countries would be shattered beyond repair, as well as endangering US military personnel in the region. The prospect of a full-scale war looms large, with Israel’s military capabilities and the broader implications of its actions raising concerns about the potential for a regional conflict. The possibility of an invasion by neighboring Arab states adds another layer of complexity to an already volatile situation, highlighting the need for concerted diplomatic efforts to prevent further escalation and find a peaceful resolution to the crisis. Further, Israel’s nuclear ambiguity and so-called “Samson Option,” its rumored unofficial retaliatory policy, raise serious questions about whether spillover in the conflict, prompted by the state’s potential ground operation in Rafah, could trigger a international thermonuclear war.

The situation in the Middle East thus represents a major threat to international security, underscoring why major countries like Russia, China, and Brazil have been adamant about a ceasefire. Despite these challenges, there are reasons for cautious optimism. The UNSC resolution represents a significant step forward in international efforts to address the Israeli-Palestinian conflict and provides a framework for meaningful dialogue and engagement. By building on this momentum and redoubling efforts to promote reconciliation and mutual understanding, there is hope for a brighter future for the people of Gaza and the wider Middle East. While the road to peace remains long and arduous, the UNSC resolution offers a ray of hope in an otherwise bleak landscape. By seizing this opportunity and working together in good faith, the international community can help pave the way for a just and lasting peace in the region. Now is the time for bold leadership, unwavering commitment, and a shared vision of a future defined by cooperation, coexistence, and prosperity for all.

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“It is misguided given that no wing of the conservative movement claims Ronna any longer!”

Inmates Run NBC Asylum: Ex-RNC Chief McDaniel Fired After ‘Talent’ Mutiny (ZH)

Just four days after she was hired — and before she even started — former Republican National Committee chairwoman Ronna McDaniel was fired by NBC News on Tuesday as the network bent to the wishes of its on-air “talent” who protested her hiring during their programs. McDaniel was poised to become a talking head providing insights on politics heading into November’s general election. News of McDaniel’s hiring broke on Friday, immediately igniting a firestorm among leftists inside and outside of NBC’s walls. In the few days that followed, a parade of hosts — including Chuck Todd, Joe Scarborough and Joy Reid, dedicated portions of their shows to raking their bosses over the coals for hiring McDaniel. Rachel Maddow was among the most melodramatically warped, saying that having McDaniel on the payroll was “inexplicable” because she “hasn’t just attacked us as journalists, but…is part of an ongoing project to get rid of our system of government.”

On Tuesday, NBCUniversal News Group chairman Cesar Conde waved the surrender flag in a memo to staff: “No organization, particularly a newsroom, can succeed unless it is cohesive and aligned. Over the last few days, it has become clear that this appointment undermines that goal. After listening to the legitimate concerns of many of you, I have decided that Ronna McDaniel will not be an NBC News contributor. I want to personally apologize to our team members who felt we let them down.” McDaniel, who oversaw seven years of Republican electoral underperformance before resigning in February, was hired by NBC News editorial chief Rebecca Blumenstein. “They thought this would bring in more conservative viewers and give a conservative point of view,” a source at NBC tells the New York Post. “It is misguided given that no wing of the conservative movement claims Ronna any longer! Don’t understand how no one realized that.”

NBC’s fiasco was indeed multi-faceted. Aside from choosing a non-conservative to appeal to conservatives, the move precipitated a spectacle of hypocrisy, as Maddow and others who relentlessly promoted the Russiagate hoax and cheer on efforts to remove Trump from 2024 ballots assailed McDaniel for being dishonest and supposedly undermining democracy. On his nightly show System Update, Glenn Greenwald found the whole thing darkly amusing: As much as NBC would like to think this whole clusterf*** is behind them, McDaniel, who is Mitt Romney’s niece, is reportedly looking for an attorney, presumably to help her shake some money out of the peacock’s feathers.

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“This is right in [Letitia James’] jurisdiction! I look forward to the grand jury indictment..”

Jon Stewart Found To Have Overvalued His NYC Home By 829% (NYP)

Jon Stewart is facing online backlash after the comedian opined on air this week that Donald Trump’s civil real estate case for overvaluing his properties was “not victimless” — when it turns out the price of a previous home sale finds Stewart doing the exact same thing, The Post has learned. On Monday night, Stewart, 61, unpacked Trump’s $454 million appeal bond, calling out experts framing the former president’s New York civil case as not causing direct harm to any individual. “The Daily Show” host rolled a clip of CNN’s Laura Coates interviewing “Shark Tank” star Kevin O’Leary, who commented that the ruling didn’t “go over well” with the real estate industry that was now fretting over the possibility of becoming the next target. Jon Stewart slammed Kevin O’Leary for calling Trump’s Civil Case as “victimless.”

Coates responds to O’Leary by highlighting that Trump was found liable for falsifying business records in the second degree, issuing false financial statements, insurance fraud and conspiracy, all due to asset inflation. “Everything that you just listed off is done by every real estate developer everywhere on Earth in every city. This has never been prosecuted,” O’Leary replied. In response, Stewart asked: “How is he not this mad about overvaluations in the real world?” “Because they are not victimless crimes,” he said. To further his point, Stewart argued that “money isn’t infinite. A loan that goes to the liar doesn’t go to someone who’s giving a more honest evaluation. So the system becomes incentivized for corruption.”

Stewart also contended that failing to declare a higher market value on a property, while paying taxes based on a lower assessed value, constitutes fraudulent behavior. “The attorney general of New York knew that Trump’s property values were inflated because when it came time to pay taxes, Trump undervalued the very same properties,” Stewart added. “It was all part of a very specific real estate practice known as lying.” But it didn’t take long for internet sleuths to look into Stewart’s own property history, which shows an overvaluation of his New York City penthouse by a staggering 829%, records confirmed by The Post show. In 2014, Stewart sold his 6,280-square-foot Tribeca duplex to financier Parag Pande for $17.5 million. The property’s asking price at that time is not available in listing records.

But according to 2013-2014 assessor records obtained by The Post, the property had the estimated market-value at only $1.882 million. The actual assessor valuation was even lower, at $847,174. Records also show that Stewart paid significantly lower property taxes, which were calculated based on that assessor valuation price — precisely what he called Trump out for doing in his Monday monologue. Pande, who purchased the penthouse from Stewart, then resold the property at a nearly 26% loss, according to the Real Deal — at just over $13 million — in 2021. Timothy Pool, a political commentator known for more right-leaning views, alleged on X that Stewart was being a hypocrite. “Did @jonstewart commit fraud when he sold his penthouse for $17.5M? NY listed its market value at $1.8M an AV at around 800k… Who did he defraud?? I am SHOCKED,” he wrote. “This is right in [Letitia James’] jurisdiction! I look forward to the grand jury indictment,” a user quipped in response to the tweet.

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“..voters who cannot understand how the government can provide billions to Ukraine while planning spending cuts at home..”

Macron Struggling To Justify Cash For Ukraine – Le Monde (RT)

It is “extremely unclear” how France can fulfill promises by President Emmanuel Macron to supply more military aid to Ukraine, as the government in Paris struggles with plans for spending cuts, Le Monde has reported. French authorities are looking to save €10 billion ($10.8 billion) this year amid a budget deficit of €144.5 billion ($156 billion) and a reduced growth forecast, according to which the economy will increase by just 1% in 2024. The French government said last month that the €10 billion cut could, among other things, be achieved by reducing the expenses of all its ministries and slicing public policies, including development aid and subsidies for building renovation.

In such circumstances, the pledge by Macron to provide €3 billion in support for Kiev this year to aid in the conflict with Russia – made when France and Ukraine signed a 10-year bilateral security pact in mid-February – has turned into a “budgetary and political headache” for his government, Le Monde reported on Tuesday. Lawmakers from Macron’s ruling Renaissance party say they regularly face questions from voters who cannot understand how the government can provide billions to Ukraine while planning spending cuts at home, the paper said. “People ask us why we’re giving €3 billion to Ukraine, it’s a lot of money,” Renaissance MP Mathieu Lefevre was quoted as saying. Le Monde suggested that in order to fulfill their promise to Kiev, the authorities in Paris would have to “play with the paperwork,” such as including France’s €900 million contribution to the European Peace Facility, an EU fund to aid Ukraine, in the €3 billion sum.

Another option might be to increase the value of the equipment donated to the Ukrainian government. The outlet added, however, that Macron’s cabinet would likely still be forced to make amendments to the finance bill (PLFR) in the summer, despite such a move being “politically inflammable.” It would require approval from the National Assembly, where opposition parties object to further funding for Kiev. Despite the issues outlined by Le Monde, French Defense Minister Sebastien Lecornu stated on Tuesday that Paris will soon be able to deliver 78 more Caesar howitzers to Kiev, while boosting the supply of shells to the country.

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“The Port of Baltimore is the country’s busiest maritime terminal for exports of vehicles..”

US Supply Chains Disrupted By Baltimore Bridge Collapse (RT)

The collapse of Baltimore’s Francis Scott Key Bridge, which has cut off ocean routes to the city’s major port, is expected to cause severe disruptions to local transport and logistics, producing ripple effects on global supply chains. The four-lane bridge collapsed on Tuesday after being hit by the Singapore-registered container ship Dali, operated by Danish shipping giant Maersk. As a result of the accident, a large section of the 1.6-mile (2.6km) bridge collapsed into the Patapsco River, with multiple vehicles falling nearly 55 meters into the water. Built in the 1970s, the Francis Scott Key Bridge spans the Patapsco River, and is the only passage connecting the US’ ninth-biggest foreign trading port to the ocean. The Port of Baltimore is the country’s busiest maritime terminal for exports of vehicles.

Very sharp turn
https://twitter.com/i/status/1772750115465269664

According to Maryland Governor Wes Moore, no other port in the country brings in more vehicles than Baltimore, with up to 850,000 cars and light trucks going in and out of its terminals annually. Parts used in vehicle assembly also pass through the port or across the bridge. The major hub for East Coast shipping also handles significant volumes of coal. During the second quarter of 2023, the port’s facilities had the second-highest coal export capacities, data tracked by S&P Global shows. Ten ships are reportedly stuck inside the port, unable to leave as the collapsed bridge spanned the only way in and out of the harbor. Another 30 small cargo vessels, tug boats, and other craft are also trapped in the port. Nearly 40 ships heading for Baltimore were forced to divert.

Commenting on the tragedy, US President Joe Biden said the bridge is vital to the economy, citing concerns about traffic and jobs connected to the port. He noted that the port supports around 15,000 jobs and that over 30,000 vehicles used the bridge each day. Officials closed the port to ship traffic following the incident. Rescue efforts are underway as the authorities search for six people who are still missing.

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Peterson
https://twitter.com/i/status/1772718650652500293

 

 

Glutathione
https://twitter.com/i/status/1772964579091341340

 

 

D3
https://twitter.com/i/status/1772990643842723868

 

 

Turbo

 

 

Lions

 

 

Baby rhino

 

 

Tuffy
https://twitter.com/i/status/1772754349669716021

 

 

 

 

Support the Automatic Earth in wartime with Paypal, Bitcoin and Patreon.

 

 

 

 

 

Apr 282021
 


Juan de la Corte (1597–1660) Lot And His Daughters Escaping From The Destruction Of Sodom And Gomorrah

 

COVID Pill That Cures Body At First Signs Of Infection May Come This Year (JTN)
Single Dose Of Covid Vaccine Can Nearly Halve Transmission Of Virus (G.)
The BBC & Bloomberg on India: B Stands For Bullshit. (Slog)
Oxford Jab ‘Could Be Banned For Under-40s’ After Blood Clot Reports Double (Metro)
A New World Order Brought To You By COVID-19 (Whitehead)
Scientists “Debunking” The Wuhan Lab Leak Theory Linked to CCP (NP)
Don’t Look Now (Jim Kunstler)
Supply Chains Implode As “Price Doesn’t Even Matter Anymore”
Gundlach Rejects The Fed’s “Inflation Is Transitory” Narrative (ZH)
CNN’s New “Reporter,” Natasha Bertrand, is a Deranged Conspiracy Theorist (Greenwald)
The Deep State Targets Matt Gaetz (AG)
Apple iOS 14.5 Update Includes ‘App Tracking Transparency’ Feature (G.)
Google Ad Surge Drives Up Profits For Parent Firm Alphabet (Y!)
Hunter Biden To Guest Teach A Class On “Fake News” This Fall (DM)

 

 

I forget who drew my attention to this UK government report, Covid-19 Response Spring 2021, but it paints a very stark and completely ignored reality: only 66% of people can ever be successfully vaccinated and may be protected.

34% either can’t be jabbed for medical reasons, or the vaccines don’t catch on. And that’s assuming full uptake, which of course you’ll never ever get. So the number of not successfully vaccinated will be higher than 34%, perhaps quite a bit, no matter the PR campaigns and threats.

This should put the entire Covid response on its head, but for some reason it doesn’t. Those 34+% would appear to be ineligible for a “vaccine passport” as well, depriving them of basic human rights.

 

 

 

 

Lemme guess: Pfizer waits until everyone has been vaccinated, and then introduces this pill?

COVID Pill That Cures Body At First Signs Of Infection May Come This Year (JTN)

The Pfizer pharmaceutical company is conducting trials on an antiviral drug could be ready for public use later this year that is intended to attack the spine of the SARS-CoV-2 virus and result in a cure to the sickness. The oral drug would stop the virus from mutating in the nose, throat and lungs, according to The Telegraph newspaper, ultimately causing the virus to dissipate. The possible home cure is being tested on 60 volunteers ages 18 and 60 at Pfizer facilities in the U.S. and Belgium. “We have designed PF-07321332 as a potential oral therapy that could be prescribed at the first sign of infection, without requiring that patients are hospitalized or in critical care,” said Mikael Dolsten, who leads the company’s worldwide research, development and medical division.


The first phase of the trial looks at the tolerance to the drug including “significant side effects, and how people feel after taking it,” according to documents. The second phase studies the response to several doses, and the third phase looks at food consumption while taking the pill. More trials would be needed to determine how the drug reacts with people who are infected with the virus. Pfizer says if the trials are successful the drug could be available for public use later this year.

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VItamin D can do that too. Ivermectin can do more.

Single Dose Of Covid Vaccine Can Nearly Halve Transmission Of Virus (G.)

A single dose of a Covid-19 vaccine can slash transmission of the virus by up to half, according to a Public Health England study. The PHE finding offers further hope that the pandemic can be brought under control as it indicates that vaccinated people are far less likely to pass the virus on to others. The study found that people given a single dose of either the Pfizer/BioNTech or Oxford/AstraZeneca vaccines – and who became infected at least three weeks later – were between 38% and 49% less likely to pass the virus on to people living in their homes, compared with those who were unvaccinated. Protection was seen from about 14 days after vaccination, with similar levels regardless of a person’s age. Other studies have already shown that both vaccines are highly effective at stopping people getting sick and ending up in hospital.

Experts will now assess whether two doses of vaccine can cut transmission of the virus even further, and more work is being carried out on transmission in the general population. PHE said similar results could be expected in places where the risk of transmission is like in the home, such as shared accommodation and prisons. The health secretary, Matt Hancock, said: “This is terrific news – we already know vaccines save lives and this study is the most comprehensive real-world data showing they also cut transmission of this deadly virus. “It further reinforces that vaccines are the best way out of this pandemic as they protect you and they may prevent you from unknowingly infecting someone in your household.

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I’m guessing the truth is somewhere in the middle. India is not doing great right now, but it’s also not collapsing.

The BBC & Bloomberg on India: B Stands For Bullshit. (Slog)

Unless you made an early getaway to Planet Drongo before the lockdown, you will have read pretty much everywhere that “India sees world’s highest daily cases amid oxygen shortage”. In fact, the BBC tells us that “some people” have died waiting for oxygen, the Indian health service is “completely overwhelmed” and the country now has “sixteen million cases”. So it’s a disaster, right? Well actually, no – it isn’t. The Indian health ministry has already made it clear that the Covid19 variant they’re dealing with this year has “a considerably lower death rate than the previous version”. Go to the Worldometer site, and you’ll see that India’s deaths per million is a minute 134: that’s 7% of the US and French figures, 6% of the UK and Italy’s and the lowest by far of any country in the Top 30 for cases.

Virtually no vaccination has been undertaken in India (only 1.3% are fully vaccinated) and the country is not using lockdowns. The Times of India has just denied the BBC’s ‘deaths from oxygen shortage’ fakery. What India IS doing, however, is employing the anti-inflammatory drugs tocilizumab and itolizumab and the antivirals favipiravir and hydroxychloroquine on a very wide scale. Go to Pharma site/accolyte spaces, and you’ll see all four drugs being rubbished: the Pharmafia and their bureaucratic whores don’t want any signs of a success to get out. But the Truth already is out there: India is doing spectacularly well without either vaccines or lockdown. You won’t find that reality expressed anywhere in the Western MSM, but the facts show that its infection management drugs have delivered one of the lowest case to death rates on the planet.

Not that you’d notice, reading Bloomberg: “India saw the world’s biggest one-day jump in coronavirus cases ever as a ferocious new wave grips the country, overwhelming hospitals and crematoriums and prompting frantic cries for help on social media. The South Asian nation reported 314,835 new infections Thursday, topping a peak of 314,312 recorded in the U.S. on Dec. 21. People took to Twitter and Instagram to call for everything from hospital beds to medicine and doorstep Covid-19 tests. The grim milestone shows how the pandemic crisis has shifted firmly to the developing world, where variants and complacency are threatening containment measures and there’s a lack of vaccines, with supplies dominated by richer nations.”

It’s a pack of lies from end to end. India has a population of 1.4 billion people – so overcrowding is almost generic – and being four times more people than the US, the comparison with America is completely ludicrous. Hospitals do not get overwhelmed when 134 folks out of a million get ill. India’s water purity and basic hygiene measures are very Third World. Yet despite all that, it is doing phenomenally well against Covid….by having and doing respectively none of the advantages and policies of the West.

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“..the total number of people in the UK who developed blood clots after getting one dose has gone from 79 to 168 in a fortnight..”

Oxford Jab ‘Could Be Banned For Under-40s’ After Blood Clot Reports Double (Metro)

Under-40s may be offered an alternative to the Oxford-AstraZeneca vaccine after blood clot reports doubled, reports claim. The chance of dying from a blood clot after having the jab is about one in one million – with 19 fatalities from around 20 million vaccinations. However, the total number of people in the UK who developed blood clots after getting one dose has gone from 79 to 168 in a fortnight, Medical Healthcare Products and Regulatory Agency (MHRA) data suggests. These new cases have taken the odds of experiencing a blood clot up from one in 250,000 to one in 126,000. The MHRA has reiterated that the benefits of the Oxford-AstraZeneca jab outweigh the risks for most people – but is considering offering under-40s the Pfizer or Moderna vaccine given that younger people are more likely to be affected by blood clots, The Telegraph claims.


It comes after the Joint Committee on Vaccination and Immunisation (JCVI) decided that under-30s should be offered an alternative to the Oxford jab. Currently, anyone over the age of 45 can get a jab in England. Over-50s in Scotland and Wales are being offered their doses, while Northern Ireland has already started vaccinating over-35s. Deputy chief medical officer Jonathan Van-Tam said on April 7 that 0.8 per 100,000 30 to 39-year-olds suffered serious blood clots after getting their Oxford/AstraZeneca jab. This was compared to 2.7 in 100,000 who would be kept out of intensive care by taking the vaccine. But these figures were based on fewer cases and the MHRA is yet to release what these odds are now 168 people have had blood clots.

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“The new platinum card of the Covid age is the vaccine certificate.”

A New World Order Brought To You By COVID-19 (Whitehead)

The COVID-19 pandemic has propelled us into a whole new global frontier. Those hoping to navigate this interconnected and highly technological world of contact tracing, vaccine passports and digital passes will find themselves grappling with issues that touch on deep-seated moral, political, religious and personal questions for which there may be no clear-cut answers. We are about to find our ability to access, engage and move about in the world dependent on which camp we fall into: those who have been vaccinated against COVID-19 and those who have not. “It is the latest status symbol. Flash it at the people, and you can get access to concerts, sports arenas or long-forbidden restaurant tables. Some day, it may even help you cross a border without having to quarantine,” writes Heather Murphy for the New York Times.


“The new platinum card of the Covid age is the vaccine certificate.” This is what M.I.T. professor Ramesh Raskar refers to as the new “currency for health,” an apt moniker given the potentially lucrative role that Big Business (Big Pharma and Big Tech, especially) will play in establishing this pay-to-play marketplace. The airline industry has been working on a Travel Pass. IBM is developing a Digital Health Pass. And the U.S. government has been all-too-happy to allow the corporate sector to take the lead. Spearheaded by the National Security Agency (NSA), which has shown itself to care little for constitutional limits or privacy, the surveillance state has come to dominate our government and our lives. Yet the government does not operate alone. It cannot. It requires an accomplice. Thus, the increasingly complex security needs of our massive federal government, especially in the areas of defense, surveillance and data management, have been met within the corporate sector, which has shown itself to be a powerful ally that both depends on and feeds the growth of governmental bureaucracy.

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I’m not much into CCP bashing, but also not into too many coincidences.

Scientists “Debunking” The Wuhan Lab Leak Theory Linked to CCP (NP)

Several researchers used by leading corporate media outlets to debunk claims that COVID-19 originated at the Wuhan Institute of Virology have previously attended events or accepted awards from the controversial lab, The National Pulse can reveal. The researchers’ Chinese Communist Party ties – which present a clear conflict of interest – are omitted from the media reports, which instead present the scientists as unbiased adjudicators of COVID-19’s origins. In March 2020, NBC Science Contributor Dr. Joseph Fair called for the Trump administration to “stop blaming China” for the outbreak of the virus, despite mounting evidence – even at the time – that China was hiding information and data, and silencing whistleblowers. Dr. Fair equated called the lab leak theory – now increasingly mainstream – as a “conspiracy.”

Fair spoke at the Wuhan Institute of Virology (WIV) in 2013, The National Pulse can reveal. “During the visit, he attended “Ge Hong Elite Forum” and gave an excellent academic report named “Biosafety Level 4 Containment Research and Recombinant Biology: How advances in molecular biology can advance in-vitro product design”. Many teachers and students, including Director Chen Xinwen and researchers such as Hu Zhihong and Wei Hongping, listened to the report,” a summary notes. “Dr. Joseph Fair is now engaged in the rapid diagnosis work of virulent viruses for GVFI and looks forward to cooperating with the Institute in the relevant research field in future,” the description adds. Fair’s Twitter account also contains posts describing WIV researchers as “collaborators,” “colleagues” and friends,” adding “I’ve very much enjoyed working with them over the years.”

Fair has praised the labs “openness with regards to sharing data” despite the institute erasing 16,000 virus samples in late 2019 and continuing to do so throughout the pandemic. Dr. Ian Lipkin, who’s seen his claims that there is “no evidence to suggest that [COVID-19] was created in a lab” amplified by outlets such as CBS and USA Today, also spoke at the WIV, in 2015. “He had given an excellent report on “Small game hunting”, which was presided by Professor Zhengli Shi, to the teachers and students in our institute,” a WIV summary revealed. The unearthed visit follows National Pulse reports highlighting Lipkin receiving awards from the Chinese Communist Party and describing himself as a “consultant” for the communist regime.

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“..the supernatural victory on Super Tuesday that rescued his pitiful old ass from the glue factory of broken-down political war-horses.”:

Don’t Look Now (Jim Kunstler)

This was only one of countless mysteries orbiting around the dimming star that is Joe Biden. The biggest one, the planet Jupiter of all puzzlements, is how the guy managed to get elected occupant of the oval office. Or, more to the point, how did others manage to get him elected? I mean, considering those few embarrassing campaign forays from the basement to a bunch of empty parking lots back in the fall of 2020, not to mention the supernatural victory on Super Tuesday that rescued his pitiful old ass from the glue factory of broken-down political war-horses. We may be about to find out as Arizona’s State Senate finally got around to approving a full audit of the November 3rd vote in Maricopa County, comprising Phoenix and its asteroid belt of suburbs, which amounts to more than two-thirds of the state’s population.

The Democratic Party tried pretty hard to stop the durned thing, sending its gnarliest Lawfare warrior, one Marc Elias from the Clinton-indentured DC firm of Perkins Coie, and a posse of 70 other attorneys, to bury the proceedings in court orders. But all they got was a weekend pause from an Arizona judge who imposed a $1-million-dollar bond payment on the Democrats to cover expenses for the interruption — which would then be forfeited if the audit went forward. The Dems declined to pay up, so the pause was lifted and the audit goes forward today. The usual suspects in the mainstream media attempted to bury the Arizona vote audit story or denigrate it — for instance the The New York Times, which characterized the inquiry in its Saturday lede as “false claims of a stolen election,” and then “a snipe hunt for skullduggery,” before asserting the boilerplate “baseless theories of election theft” to seal the deal with its avidly credulous readership.

Rachel Maddow of MSNBC practically jumped up and down going woo-woo-woo to discredit the audit. What do you suppose they’re afraid of? I’ll tell you: For one thing, if the vote turns out to have been compromised by fraud, Arizona is liable to lose a Democratic senator elected on Mr. Biden’s (possibly) phantom coattails — Mark Kelly (D) who defeated incumbent Martha McSally (R) — which would cancel the Democrats’ current one-vote majority grip on the body. The result of that would be the end of the party’s effort to jam various new laws down America’s craw: DC statehood, the HR-1 voter fraud act, the Supreme Court-packing bill, and, actually, anything else on the party’s Satanic wish-list for disassembling the republic.

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“.. it will almost feel like trade is coming to a halt.”

Supply Chains Implode As “Price Doesn’t Even Matter Anymore”

The number of container ships stuck at anchor off Los Angeles and Long Beach is down to around 20 per day, from 30 a few months ago. Does this mean the capacity crunch in the trans-Pacific market is finally easing? Absolutely not, warned Nerijus Poskus, vice president of global ocean at freight forwarder Flexport. “It’s not getting better. It’s getting worse,” he told American Shipper in an interview on Monday. “What I’m seeing is unprecedented. We are seeing a tsunami of freight,” he reported. “For the month of May, everything on the trans-Pacific is basically sold out. We had one client who needed something loaded in May that was extremely urgent and who was ready to pay $15,000 per container. I couldn’t get it loaded — and we are a growing company that ships a lot of TEUs [twenty-foot equivalent units]. Price doesn’t always even matter anymore.”

Poskus said that trans-Pacific import volumes are still rising. He noted that January trans-Pacific imports were up 10% versus 2019 (comparisons to 2020 numbers are skewed by COVID) and 13.5% in February, then jumped 51% in March. “So, we’re now at 1.5 times pre-pandemic levels.” With imports far outpacing retail sales growth, he attributed volumes to inventory restocking. “The restocking is actually affecting the trade even more than growth in demand. That tells me that this will last even longer. Let’s say U.S. consumer demand slows down in Q3 and Q4. That’s not expected, but even if it does, [capacity availability and rates] shouldn’t improve quickly, simply because of the huge restocking demand.”

Poskus also believes there is a growing export backlog piling up each day in Asia, awaiting available ship slots. If that backlog grows too big, he said, “I honestly don’t know what’s going to happen.” As a result of the backlog and restocking demand, he thinks “prices will remain high and shipping will probably remain difficult for the rest of this year. And then after that, you have the peak for Chinese New Year in 2022.” He said that the situation today is the worst he’s witnessed — and he believes it’s about to get even more severe. “Buckle up. The month of May will be the worst people have ever seen,” he predicted. Because some shippers will have to wait in line behind the growing backlog in Asia, he expects “what’s going to happen soon is that some importers won’t even be able to get on the boat. For them, it will almost feel like trade is coming to a halt.”

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“.. it really depends on just how much manipulation the authorities are willing to do.”

Gundlach Rejects The Fed’s “Inflation Is Transitory” Narrative (ZH)

Don’t believe your lying eyes, will be the message tomorrow from The Fed’s Jay Powell as he hypnotizes investors to believe that “inflation is transitory” and they have “the tools” to manage it. ‘Bond King’ Jeff Gundlach is not buying that line and told BNN Bloomberg in an interview this morning. “…more importantly, I’m not sure why they think they know it’s transitory… how do they know that?” “…there’s plenty of money-printing that’s been going on, and we’ve seen commodity prices going up massively… home prices in the US are inflating very substantially… so there’s a lot of inflation that’s already baked in to input prices.” Gundlach does admit that Powell has a point in the very near term as the prints were about to see “which could be as high as 4% [for CPI]” are off of year-ago, very depressed levels.

“…what he means by transitory is that the base effect will lead to problems in the next few months but then the base effect will become less problematic.” But, Gundlach adds, “it’s not clear to me that inflation is going to go back down to around 2 to 2.5%… we don’t know, nobody knows… but we’re most concerned with the fact that The Fed thinks they know.” This is worrisome because The Fed’s track record is anything but inspiring… “when I go back to the global financial crisis, when we almost had a complete meltdown of the financial system, Ben Bernanke completely missed all of the problems that led to the crisis.” Bernanke’s infamous “contained to subprime… and subprime is only a sliver of the market” comments could be about to be trumped by Powell’s “inflation is transitory” comments as Gundlach warns “there’s plenty of indicators that suggest inflation is going to go higher and not just on a transitory basis.”

The Fed is “trying to paint the picture” of control, but Gundlach tries to make clear: “they’re guessing.” So, what does that mean for markets? While some fear “we ain’t seen nothing yet” in terms of yields rising (and multiple contraction), Gundlach notes that “it really depends on just how much manipulation the authorities are willing to do.” The billionaire fund manager notes that yields are “still very low… well below the current inflation rate… so we have negative yields everywhere on the yield curve.” It’s also “hard to figure out who’s going to buy the bonds,” he notes, “as we are about to see issuance like we have never seen before.” Foreigners have been selling bonds for years and domestically there is little demand, so Gundlach notes the only one left to soak up all this extra supply is The Federal Reserve, which has already expanded its balance sheet massively in the last 12 months.

“Who’s going to buy all these many trillions of dollars of bonds? Foreigners have been selling for years and they’ve accelerated their selling in the last several quarters, domestic buyers are not exactly selling, but they’re not adding to their holdings. So what’s left to absorb all of the spawn supply is the Federal Reserve.“ “Left to true, free markets, bond yields at the long-end would obviously be higher than they are now.”

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“Each month, Bertrand produced dozens of Russiagate articles for the site that were so unhinged that they made Rachel Maddow look sober, cautious and reliable.”

CNN’s New “Reporter,” Natasha Bertrand, is a Deranged Conspiracy Theorist (Greenwald)

The most important axiom for understanding how the U.S. corporate media functions is that there is never accountability for those who serve as propagandists for the U.S. security state. The opposite is true: the more aggressively and recklessly you spread CIA narratives or pro-war manipulation, the more rewarded you will be in that world. [..] On Monday, CNN made clear that this dynamic still drives the corporate media world. The network proudly announced that it had hired Natasha Bertrand away from Politico. In doing so, they added to their stable of former CIA operatives, NSA spies, Pentagon Generals and FBI agents a reporter who has done as much as anyone, if not more so, to advance the scripts of those agencies.

Bertrand’s career began taking off when, while at Business Insider, she abandoned her obsession with Russia’s role in Syria in 2016 in order to monomaniacally fixate on every last conspiracy theory and gossip item that drove the Russiagate fraud during the 2016 campaign and then into the Trump presidency. Each month, Bertrand produced dozens of Russiagate articles for the site that were so unhinged that they made Rachel Maddow look sober, cautious and reliable. In 2018, it was Jeffrey Goldberg himself — knowing a star CIA propagandist when he sees one — who gave Bertrand her first big break by hiring her away from Business Insider to cover Russiagate for The Atlantic. Shortly thereafter, she joined the Queen of Russiagate conspiracies herself by becoming a national security analyst for MSNBC and NBC News.

From there, it was onto Politico and now CNN: the ideal, rapid career climb that is the dream of every liberal security state servant calling themselves a journalist. Her final conspiratorial article for The Atlantic before moving to Politico is the perfect illustration of who and what she is. CNN’s new national security star was no ordinary Russiagate fanatic. There was no conspiracy theory too unhinged or evidence-free for her to promote. As The Washington Post’s media reporter Erik Wemple documented once the Steele Dossier was debunked, there was arguably nobody in media other than Rachel Maddow who promoted and ratified that hoax as aggressively, uncritically and persistently as Bertrand. She defended it even after the Mueller Report corroborated virtually none of its key claims.

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Smear sells.

The Deep State Targets Matt Gaetz (AG)

It’s now been over three weeks since a torrent of sensational headlines about U.S. Representative Matt Gaetz (R-Fla.) blared from corporate media newsrooms. It sounded about as bad as it could get for the representative from Florida’s 1st Congressional District; breathless claims that he was “under investigation for underage sex trafficking” touched off a media frenzy. No stranger to controversy, Gaetz’s initial instinct was to confront the allegations live on Fox News with Tucker Carlson. While many saw it as a bizarre interview, it may at least have been the right move in terms of staring down a bloodthirsty establishment. As several weeks have passed, though, the controversy seems to have generated more heat than light. Indeed, this might be the longest running “sex scandal” in the nation’s history without an accuser.

But the media has been busy. Since the original story broke, there’s been a drip of follow-on stories at outlets like the Daily Beast, Politico, the Washington Post, and CNN—all using a shady collection of off-the-record and dubious government sources. Unsurprisingly, given that sourcing, none of the stories have contained anything close to serious detail or evidence. Reporters keep dropping tidbits of evidence likely to be emanating from within the Justice Department, yet none of which confirms any of the headline-grabbing allegations. Few of these articles even attempt to deal with the wild allegations first made about the congressman. Writing in Politico on Tuesday, Betsy Woodruff Swan stated: “[Gaetz] has not been charged with a crime, and no women have publicly accused him of sexual misconduct in the three weeks since the New York Times first reported on the investigation. He has denied any wrongdoing.”

Note how—after making a sensational media splash for maximum public relations damage—the accusations against Gaetz have shifted, from shocking and unsupported claims of underage sex trafficking and pedophilia to the less scurrilous (and still unsupported) accusation that Gaetz had sex at parties. Crucially, there has not been any evidence of payments, prostitution, or underage girls. As Scott Adams recently said, while some may first cringe at hearing too much about the sex life of a politician, deep down, they’re more likely to be indifferent. CNN even had to note in a recent report: “One of the women who spoke to CNN said she did so in part because the picture of Gaetz as potentially connected to sex trafficking that has emerged in recent days does not align with what she saw. Both women said that they never saw anyone at the parties who appeared to be underage.”

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Seems hard to argue against, but sure enough many are trying.

Apple iOS 14.5 Update Includes ‘App Tracking Transparency’ Feature (G.)

Users of iPhones can now prevent advertisers tracking them across their apps, after the release of the latest software update from Apple introduced the controversial feature despite the protests of Facebook and the advertising industry. The update, iOS 14.5, includes a setting called “app tracking transparency”, which for the first time requires applications to ask for users’ consent before they are able to track their activity across other apps and websites. If users decline, then applications will not be able to access the unique user ID that they need to follow individuals as they live their digital lives. The prompt, which will say “Allow [app game] to track your activity across other companies’ apps and websites?” will show up for apps that request access to the ID number.

They may be able to use other methods, known as “fingerprinting”, to achieve the same goal, but Apple says that doing so could cause them to be expelled from the App Store. First announced last summer, app tracking transparency led to immediate pushback from the wider advertising industry. Initially slated for release in the autumn, Apple delayed its implementation for six months in order to give the industry time to prepare. But the delay wasn’t enough for some, and in December, Facebook launched an all-out assault on Apple, with the company’s head of ads and business products, Dan Levy, claiming that the setting was actually “about control of the entire internet”. “This is about a long-term view that is anti-personalised advertising and we think is trying to take the world back 10 or 20 years,” he added.

Facebook launched a glossy advertising campaign arguing that the real victim of the changes are “your neighbourhood coffee brewery, your friend who owns their own retail business, your cousin who started an event planning service and the game developers who build the apps you use for free”. Those small businesses, the company said, would lose out if they were no longer able to target customers with personalised adverts. The social network is not alone in its opposition: a group of Germany’s biggest media, tech and advertising companies, led by digital publishing house Axel Springer, have filed a complaint with the German competition regulator arguing that the new rules could lead to a 60% fall in advertising revenues for app developers.

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Looking at ad reveue here, I can assure you they’re keeping it all for themselves.

Google Ad Surge Drives Up Profits For Parent Firm Alphabet (Y!)

Google parent Alphabet on Tuesday reported that quarterly profit more than doubled as digital advertising surged with more people relying on the internet during the coronavirus pandemic. Profit in the first quarter leapt to $17.9 billion from $6.8 billion in the same period a year ago while revenues jumped 34 percent to $55.3 billion, led by gains in advertising and cloud computing services. “Over the last year, people have turned to Google Search and many online services to stay informed, connected and entertained,” said Alphabet and Google chief executive Sundar Pichai. The surge in Alphabet’s earnings comes as the tech giant faces increased scrutiny from regulators regarding its power.

“Google essentially manufactures money; they are almost entirely ads,” said analyst Rob Enderle of Enderle Group. “There is not a risk of downturn in revenue, it is that regulatory action strips the revenue from them.” Facebook and Google are the “short list” when it comes to scrutiny by regulators in Europe and the United States because of “their broad impact on the political process and almost complete dominance of ad revenues,” the analyst maintained. Google is among internet giants in the crosshairs of regulators and critics concerned about whether it unfairly wields its power to dominate markets and fend off competition.

[..] Alphabet shares were up nearly five percent in after-market trades that followed release of the earnings figures. “Google had an absolute monster quarter with ads leading the way,” said analyst Patrick Moorhead of Moor Insights and Strategy. “YouTube grew an eye-watering 49 percent year-over-year, which I attribute to increased YouTube viewing and increased YouTube TV subscribers.”

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I must admit I didn’t see this coming. Hunter, that is. That fake news producers would teach on fake news is all too predictable.

Hunter Biden To Guest Teach A Class On “Fake News” This Fall (DM)

Hunter Biden is helping teach a class on fake news at Tulane University in New Orleans, Louisiana this fall. The course titled ‘Media Polarization and Public Policy Impacts’ will include several guest speakers throughout its 10 weeks, including the president’s son. The course description, according to a copy of the syllabus obtained by DailyMail.com, says: ‘America’s rapidly advancing partisan divide is fueled substantially by the growing political polarization increasingly evident in our news media.’ ‘This course will explore the current state of the media landscape in the United States and how media polarization, fake news, and the economics of the news business impact public policymaking in Washington, D.C,’ it continues. Hunter, 51, is a Yale-educated lawyer and has never, in any capacities, worked as a journalist, reporter or in the media world.


‘Hunter Biden has no background in media,’ conservative filmmaker Phelim McAleer said. ‘He has never worked for a newspaper or a media outlet.’ ‘Hunter Biden lecturing a class on fake news is like Harvey Weinstein teaching a course to prevent sexual harassment. It shouldn’t be happening. Period.’ the ‘My Son Hunter’ producer continued. Tulane University confirmed the course in a statement to DailyMail.com and confirmed the list of speaker, including:
Hunter Biden
Dr. Deborah Birx, White House Coronavirus Response Coordinator under President Donald Trump
Juan Williams, political analyst for Fox News Channel
Susan Glasser, columnist for The New Yorker
Margaret Sullivan, Washington Post columnist; Kylie Atwood, national security correspondent for CNN
Margaret Brennan, Face the Nation moderator
Bret Stephens, New York Times columnist
Dr. Michael Fauntroy, a professor in the Political Science Department at Howard University.

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Primitive societies are largely free of cardiovascular disease, cancer, dental cavities, economic theories, lounge music, and other modern ailments.
– Nassim Nicholas Taleb

 

 

 

 

Time Lapse

 

 

Support the Automatic Earth in virustime. Click at the top of the sidebars to donate with Paypal and Patreon.

 

May 182020
 


Jack Delano Myrtle Beach, S.C. Air Service Command Technical Sergeant Choken 1943

 

Ardern Becomes New Zealand’s Most Popular PM In A Century (R.)
116 Countries Back Australia’s Push For Independent Corona Inquiry (SBS.au)
Start ‘Travel Bubbles’ For Low-Risk Countries, Heathrow Urges UK Govt (R.)
Profiting from Coronavirus (Craig Murray)
US Mulls Paying Companies, Tax Breaks To Pull Supply Chains From China (R.)
Cuomo Says No One Should Be Prosecuted For Coronavirus Deaths In New York (CBS)
Pelosi Sees Negotiations On New $3 Trillion Coronavirus Legislation (R.)
Senator Rubio Calls For Fast Action To Extend US Payroll Protection Program (R.)
Los Angeles Tells Everyone To Wear Face Masks At All Times While Outdoors (JTN)
EU’s Vestager: Discrepancy In Coronavirus State Aid Distorts Single Market (R.)
Australia Bankers Hope They’ll Avoid A Bad Debt Tsunami (AFR)

 

 

• US records 857 new #coronavirus deaths in 24 hours. Yesterday: 1,277
• The latest toll, marked at 8:30 pm (0030 GMT Monday), is the lowest since 776 daily deaths were recorded May 10, but the count ranged as high as 1,894 in subsequent days

 

 

 

 

 

 

 

Cases 4,820,347 (+ 77,166 from yesterday’s 4,743,181)

Deaths 316,967 (+ 3,264 from yesterday’s 313,703)

 

 

 

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

 

 

From Worldometer

 

 

From SCMP:

 

 

From COVID19Info.live:

 

 

 

 

Say your child sees the Lord of the Rings films and wants to visit New Zealand. What do you think are the odds they’ll be allowed entry any time soon?

Ardern Becomes New Zealand’s Most Popular PM In A Century (R.)


Jacinda Ardern became New Zealand’s most popular prime minister in a century, a Newshub-Reid Research poll showed on Monday, thanks to her COVID-19 response that made the country among the most successful in curbing the spread of the disease. The first public poll since the coronavirus crisis took hold showed popularity for Ardern’s Labour jumped 14 points to 56.5% – the highest for any party ever. Conversely, the biggest party in parliament – the Nationals, slumped to 30.6%, after sliding by 12.7 points. The poll was conducted between May 8 and May 16, with half of the responses taken after the federal budget on Thursday. As preferred PM, Ardern was at 59.5%, up 20.8 points on the last poll and the highest score for any leader in the Reid Research poll’s history.


The poll took into account public sentiment in the final days of the country’s strict level three lockdown, which also got massive support with almost 92% respondents saying it was the right call. The Pacific nation was locked down for more than a month under “level 4” restrictions that were eased by a notch in late April. It has continued to enforce strict social measures on many of its citizens and businesses, helping prevent widespread community spread of the virus. Businesses in the country including malls, cinemas, cafes and gyms reopened last Thursday. (May 14) Ardern’s stratospheric rise to become the country’s youngest prime minister and third woman to hold the office resulted in New Zealanders coining the phrase “Jacinda-mania.” The rate of new cases have slowed dramatically in New Zealand in recent weeks. The virus has so far infected 1,499 people in New Zealand and killed 21.

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China says it’s premature to start now because the pandemic is not over. What?

116 Countries Back Australia’s Push For Independent Corona Inquiry (SBS.au)

110 countries have backed Australia’s push for an independent coronavirus inquiry which has caused a damaging rift with China. The African Group’s 54 member states will co-sponsor the motion, joining 62 other countries including Russia, Indonesia, India, Japan, Britain and Canada. The European Union’s 27 members are all on board, along with Brazil, South Korea, Mexico, Turkey and New Zealand. Foreign Minister Marise Payne on Monday said it was encouraging to see so many countries backing the inquiry. “I think what it illustrates is a broad view that given the experience of COVID-19 – over 300,000 deaths, millions of people around the world losing their jobs, the impact on economies from one corner of the globe to the other – that there is a strong view that it is appropriate to engage in a review of what has happened.


“I don’t want to preempt speculate about the outcome, those discussions will be under way later this evening. I think it’s a win for the international community.” The draft resolution calls for impartial, independent and comprehensive evaluation of the international response to the pandemic. It doesn’t mention China, but Australia’s push for the inquiry has angered Beijing, which has threatened a huge tariff on barley and blocked some beef imports. Health Minister Greg Hunt will represent Australia at the virtual World Health Assembly meeting on Monday night. A vote is expected in the early hours of Tuesday.

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One little problem: the UK itself is not a low risk country.

Start ‘Travel Bubbles’ For Low-Risk Countries, Heathrow Urges UK Govt (R.)

Britain should set up “travel bubbles” with low-risk countries to allow the movement of people, instead of bringing in new coronavirus quarantine rules when flights restart, according to Heathrow Airport. British government ministers have said they plan a 14-day quarantine for most people arriving in the country in the coming weeks to try to prevent a second peak of the pandemic. Airlines have warned the policy will throttle hopes for a travel recovery. Heathrow Airport, which before the novel coronavirus grounded planes was the busiest in Europe, said that it had been working with the UK government’s Department for Transport on proposals to allow some unrestricted travel.


“The proposal would create ‘travel corridors’ or ‘travel bubbles’ allowing free movement between countries or cities that are very low-risk, but potentially blocking flights from high-risk markets to safeguard public health,” the airport said in a statement. Such a set-up would be much less damaging to the economy than the quarantine policy, said Heathrow. The boss of Ryanair, Europe’s biggest airline by passenger numbers, said on Monday that the 14-day policy was unimplementable and unpoliceable and would be ignored by people wanting to travel. The government is yet to provide further details of the quarantine policy. Culture minister Oliver Dowden said earlier on Monday that Britain was still in talks with France over whether to exempt travellers from across the Channel.

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You can’t go through years of Russiagate and Syria bombings and expect countries to work together. And western Pharma sees huge profits anyway; that’s society’s model after all.

Profiting from Coronavirus (Craig Murray)

On 5 May, the British security services released to their pet media the claim that Russia, China and Iran were attempting to hack into British research institutes conducting coronavirus research. The BBC reported it. Britain’s shameful copy and paste media all, without exception, just copy and pasted the government press release. The Guardian gave the quote: “Any attack against efforts to combat the coronavirus crisis is utterly reprehensible. We have seen an increased proportion of cyber-attacks related to coronavirus and our experts work around the clock to help organisations targeted”.

If Britain had one single mainstream media journalist willing to think, rather than just regurgitate government propaganda, they might have realised that there is a massive story here if you look at it the other way round. The quote from the Guardian deliberately attempted to give the impression that Russia, China and Iran were trying to disable, destroy or hamper coronavirus research: “Any attack against efforts to combat the coronavirus”. But if you read carefully through those articles, you find that the allegation is merely that they are attempting hack in to gain access to the research. Because the UK and the US are attempting to hide their vaccine and treatment research results from the rest of the world to make money out of them.

Much has been written about the possibility for a new and better kind of world to emerge after coronavirus. Yet our governments cannot conceive of any model for fighting this threat to the whole world, other than the capitalist, money-making model. The much-touted “race to develop a vaccine” is not a race to save lives. It is a race to make billions. The United States and the United Kingdom are working in all international fora to head off efforts to pool global research and to make any vaccine or medicine a good for the world. Governments can reward those working on the vaccine, and the companies for providing the facilities, using economic models other than the patent and the potential for massive profit.

It may come as a shock to you to realise that at the moment all those lovely vaccine and medicine researchers you see being interviewed on TV about their efforts to compress trials and approvals and get the product to the marketplace, are not sharing their results with fellow researchers around the world. They are rather jealously guarding them and each working in a bubble hoping to be the first in order to cash in. It is certainly true that many of the researchers themselves do not like this, but are controlled by their bosses.

For me, the failure to set up a worldwide shared scientific database on all coronavirus vaccine and medicine research, and the failure to set up a prior agreement on free manufacture worldwide of effective resulting vaccines and treatments, is the most revealing fact about the entire coronavirus episode. The fact that the British government is putting massive resources into ensuring the Chinese or Russians cannot “steal” our research – and doubtless the Chinese and Russians are doing the same, all states are hypocrites in these matters – should sicken everybody.

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More incentive for collective action on vaccines.

US Mulls Paying Companies, Tax Breaks To Pull Supply Chains From China (R.)

U.S. lawmakers and officials are crafting proposals to push American companies to move operations or key suppliers out of China that include tax breaks, new rules, and carefully structured subsidies. Interviews with a dozen current and former government officials, industry executives and members of Congress show widespread discussions underway – including the idea of a “reshoring fund” originally stocked with $25 billion – to encourage U.S. companies to drastically revamp their relationship with China. President Donald Trump has long pledged to bring manufacturing back from overseas, but the recent spread of the coronavirus and related concerns about U.S. medical and food supply chains dependency on China are “turbocharging” new enthusiasm for the idea in the White House.


On Thursday, Trump signed an executive order (here) that gave a U.S. overseas investment agency new powers to help manufacturers in the United States. The goal, Trump said, is to “produce everything America needs for ourselves and then export to the world, and that includes medicines.” But the Trump administration itself remains divided over how best to proceed, and the issue is unlikely to be addressed in the next fiscal stimulus to offset the coronavirus downturn. Congress has begun work on another fiscal stimulus package but it remains unclear when it might pass. The push takes on special resonance in an election year. While anti-China, pro-American job proposals could play well with voters, giving taxpayer money or tax breaks to companies that moved supply chains to China at a time when small business is flailing may not.

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Now Cuomo starts arguing that “all those old people would have died anyway”. Afraid he’ll be blamed?

Cuomo Says No One Should Be Prosecuted For Coronavirus Deaths In New York (CBS)

New York Governor Andrew Cuomo on Sunday addressed the state’s early response to the coronavirus outbreak and said “nobody” should be prosecuted for the those who died, noting that “older people” were most vulnerable. The governor has been criticized for a decision in March, which has since been reversed, to send patients back to nursing homes after they tested positive for COVID-19. More than 4,800 people died from COVID-19 in nursing homes in the state between March 1 and May 1, according to a tally released by the Cuomo administration on May 1. Cuomo has called nursing homes a “feeding frenzy” for the coronavirus. “Despite whatever you do, because with all our progress as a society, we can’t keep everyone alive,” Cuomo said.

The number of deaths in New York state dropped again Saturday to 139 people. When asked about the nursing home deaths, Cuomo noted the 139 people who died on Saturday and asked who is accountable for everyone who died. “How do we get justice for those families of those 139 deaths?” Cuomo said. “Who can we prosecute for those 139 deaths? Nobody. Mother Nature, God, where did this virus come from? People are going to die by this virus, that is the truth.” When pressed further about how some people thought their loved ones would be safe because of Matilda’s Law, Cuomo continued to stress the point that older and more vulnerable people were “always going to die from this virus.”

He said when talking who is accountable for deaths, the most important thing was to make sure “you can have a situation where everyone did the right thing and everyone tried their best.” Cuomo said his top priority was making sure the medical system did not get overwhelmed, calling that a “accountable, avoidable situation.” “That’s what we protected against and we did it successfully,” Cuomo said. Cuomo pushed for all New Yorkers who have symptoms of COVID-19 to get tested. He said New York is now conducting 40,000 tests per day at 700 testing sites. “If you think you have symptoms, get a test. It’s up to you,” he said. “We just don’t have enough New Yorkers coming to be tested.”

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The GOP will negotiate to make sure its sponsors get a “fair” chunk of the loot. And that’ll be all she wrote.

Pelosi Sees Negotiations On New $3 Trillion Coronavirus Legislation (R.)

U.S. House Speaker Nancy Pelosi said on Sunday there will be negotiations on the new $3 trillion coronavirus relief legislation passed by the Democratic-controlled House of Representatives and that Democrats have “no red lines.” Asked if there has been a Republican response or counteroffer to begin negotiations on the bill passed late on Friday, Pelosi said, “No bill that is proffered will become law without negotiations, so, yeah.” The Democrats’ measure, passed late on Friday, was likely to trigger new talks with congressional Republicans and President Donald Trump’s administration, who have been talking about the need for new business liability protections in the age of coronavirus, or additional tax cuts.


Democrats oppose both of those ideas. Pelosi, however, told CBS’ “Face the Nation” on Sunday that Democrats had “no red lines.” Republican leaders have dismissed the bill, which Trump said he would veto, with Senate Majority Leader Mitch McConnell calling it “dead on arrival.” Some Republicans have said a new relief package could wait until the effects of funding in previous bills are felt, but Pelosi urged a quick resolution to help jobless Americans. More than 36 million people – or more than one in five workers – in the United States have filed for unemployment since the crisis began. “Time is of the essence,” Pelosi said. “In the past bills, they’ve put forth their proposal and then we worked in a bipartisan way. That’s what we all anticipate.”

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Just as misguided as Pelosi.

Senator Rubio Calls For Fast Action To Extend US Payroll Protection Program (R.)

The United States needs to quickly revise its coronavirus aid program for small businesses to extend the eight-week period in which the law currently requires companies to spend the money, a key U.S. senator said on Sunday. The Paycheck Protection Program established by Congress in late March was aimed at helping businesses keep making payroll for eight weeks, despite orders to shutdown because of the coronavirus pandemic. The eight-week period may be applied to any time frame from mid-February up to June 30. But with many businesses that received loans under the $660 billion PPP program moving toward the end of their eight-week period, Senator Marco Rubio, the Republican chairman of the Senate’s small business committee, said lawmakers need to move fast to extend it.


“The legislative fix needed to #PPP is extending beyond 8 weeks the time period a #SmallBusiness has to spend the funds on payroll. We are hoping to move quickly on this before the first wave of #PPP loan recipients reach the 8 week point,” Rubio wrote on Twitter. While most states have begun to reopen their economies at least in part, some 36 million Americans — one in five in the workforce — have lost their jobs since the pandemic began. Rubio’s Republican party has the majority in the Senate. But the top Democrat on the small business committee, Senator Ben Cardin, has also expressed support for re-examining the eight-week period in the small business program. “I strongly support extending it,” another Senate Democrat, Chris Van Hollen of Maryland, a member of the banking committee, said in a phone interview Sunday. “There’s a real mismatch between that date and the real world situation that many small businesses are facing.

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How about only when around people?

Los Angeles Tells Everyone To Wear Face Masks At All Times While Outdoors (JTN)

Los Angeles is requiring essentially everybody in the city wear a face covering at all times whenever outdoors, a policy Mayor Eric Garcetti says will help the local economy reopen faster. Garcetti announced the order on Wednesday evening, telling city residents: “Bring your mask with you whenever you leave your home.” Children under 2, as well as a limited number of individuals with disabilities, are exempt from the order, the mayor’s office said in a press release. “Face coverings help stop the spread of the virus,” Garcetti, a Democrat, said in the release. “Wearing them whenever we’re away from home will create a meaningful layer of protection for people we might come into contact with, and that makes sense at this stage of our response to the crisis.”


The order came shortly after Garcetti said that the city will “never be completely open” until scientists discover a cure for coronavirus. The mayor at the time was partially walking back comments made earlier in the day by Los Angeles County Public Health Director Barbara Ferrer, who said Tuesday that the city’s stay-at-home order would be extended “with all certainty” for the next three months.

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Complete nonsense: “Ensuring a competitive level playing field within its cherished single market of some 450 million people is a central EU tenet”..

Self-contradicting: “..concern about the “huge differences” in coronavirus state aid among member states, saying they were starting to distort the bloc’s single market.”

vs

“..Germany’s extensive bailouts of coronavirus-hit companies could have a ripple effect across the bloc and work as a locomotive for Europe..”

EU’s Vestager: Discrepancy In Coronavirus State Aid Distorts Single Market (R.)

The European Union’s competition chief Margrethe Vestager has expressed concern about the “huge differences” in coronavirus state aid among member states, saying they were starting to distort the bloc’s single market. Germany accounts for more than half of the emergency coronavirus state aid approved by the EU executive, prompting concerns that countries with the deepest pockets might be getting an unfair advantage in the bloc’s single market. In an interview with German newspaper Sueddeutsche Zeitung, Vestager said there was a risk that the different levels of state aid among member states would distort competition and slow the economic recovery from the coronavirus pandemic.

“And this has already happened to a certain extent”, Vestager said, according to a pre-released extract of the interview that the newspaper will publish in its Monday edition. Ensuring a competitive level playing field within its cherished single market of some 450 million people is a central EU tenet and has long been a key condition for opening up to foreign players from China to, more recently, Brexit Britain. But the executive European Commission suspended the normally-strict state aid restrictions in mid-March, allowing the 27 EU states to pump cash into their economies and companies battered by coronavirus, with more than 1.9 trillion euros worth of national schemes approved so far.

Earlier this month, Vestager said that Germany’s extensive bailouts of coronavirus-hit companies could have a ripple effect across the bloc and work as a locomotive for Europe. Asked about an EU recovery plan expected to be announced on May 27, Vestager said there were no guarantees that it would be sufficient but said officials were trying to do their best.

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It’s not the virus, it’s the housing bubble that’ll decide this.

Australia Bankers Hope They’ll Avoid A Bad Debt Tsunami (AFR)

On the face of it, the stats look abysmal. There are 7.7 million Australian workers on some form of government welfare. Repayments have been frozen on 10 per cent of mortgages and 15 per cent of SME loans. Bankers have been left with about $220 billion in loans that aren’t being serviced. Little wonder then that some analysts are querying whether the $5 billion that the big four banks have set aside to cover the losses they’ll sustain from the economic collapse triggered by the pandemic will be sufficient. Now, bankers continue to emphasise that they won’t know the extent of their problem loans for another month, when they start contacting the home owners and small business owners who opted to defer their loan repayments.


But at this stage, bankers appear quietly optimistic that the rise in their soured loans this time around are unlikely to be anywhere near as serious as the hit they took from the 1990s recession, or even the losses they sustained during the global financial crisis. There are two reasons for this confidence. In the first place, the latest downturn has been very uneven across the economy. Workers in the services sector – particularly hospitality, accommodation, food services and retail trade – have suffered far more than, say, those employed in the finance or government sectors. But because the jobs in these sectors tend to be lower paid, with a higher proportion of younger employees working casual hours, those working in these sectors tend not to meet the income requirements for a home loan borrower.

Read more …

We try to run the Automatic Earth on people’s kind donations. Since their revenue has collapsed, ads no longer pay for all you read, and your support is now an integral part of the process.

Thank you.

 

 

Note: Navarro says in this clip that remdesivir has been saving many lives. But we know it has no such effect. It shortens hospital stays at best.

 

 

 

 

 

 

 

 

 

 

Support the Automatic Earth in virustime.

 

Mar 312020
 


Vincent van Gogh The Parsonage Garden at Nuenen in Spring 1884 (stolen yesterday)

 

Fauci Offers More Conservative Death Rate In Academic Article Than In Public Briefings (JTN)
Hospital Equipment Shortages Renew Spotlight On Supply Chain Middlemen (JTN)
US COVID19 Job Losses Could Be 47 Million, Unemployment May Hit 32% (CNBC)
Trump Rips Pelosi For Criticizing His Handling Of Coronavirus Pandemic (NYP)
Pelosi Aims To Move Fast On Next Rescue Package (Pol.)
Rachel Maddow’s Recent Predictions Get Roasted (JTN)
Political Distancing (Turley)
Many Brick & Mortar Stores Will Not Reopen, CMBS will Default (WS)
How Will COVID-19 Impact US Manufacturing? First Indications Are Ugly (WS)
“We Are Temporarily A Company With No Product And No Revenue” (WS)
Airbnb To Pay Out $250 Million To Hosts To Help Ease Cancellation Pain (R.)
China Says Manufacturing Activity Expanded In March (CNBC)
Hungary’s Viktor Orbán Wins Vote To Rule By Decree Indefinitely (Pol.)
Portugal Gives Migrants, Asylum-Seekers Full Citizenship Rights (CNN)
Five Days Of Worship That Set A Virus Time Bomb In France (R.)
People Get Ready! (Kunstler)
Italian Politicians Criticize Netherlands Over Lack Of Solidarity (NLT)

 

 

More countries are demanding people wear face masks, even the CDC in the US talks about making it obligatory, but masks are no more available in many places than tests are. We’re three months into this thing -though I know for most people it’s been just 2 weeks-, and we’re still debating this.

In the US, half the people have it easy, they can just blame everything on Trump, it’s a entire industry, even though his approval numbers rise at the same time. But in all those other countries, who do you blame when you have face the coordinated efforts to praise your government of the day? Life isn’t easy. Maybe you can blame Trump too.

Meanwhile, we’re sadly waiting for US cases and death numbers to explode. 15,000 new cases and close to 1,000 new deaths is devastating, but nowhere near what we expect the trend to become.

 

 

Cases 799,723 (+ 64,792 from yesterday’s 734,931)

Deaths 38,720 (+ 3,940 from yesterday’s 34,780)

 

 

 

From Worldometer yesterday evening -before their day’s close-. Note: Turkey’s in the ascendancy (though not in the zodiac)

 

 

From Worldometer -NOTE: mortality rate for closed cases is at 19% –

 

 

From SCMP:

 

 

From COVID2019Live.info:

 

 

 

 

Sharyl Attkisson noticed something too. Fauci must be more careful.

Fauci Offers More Conservative Death Rate In Academic Article Than In Public Briefings (JTN)

You’ve probably heard that COVID-19 is far deadlier than the flu. But it could turn out to be more akin to a severe flu season. Surprisingly, both of those assessments come from the same authority at the same time: Dr. Anthony Fauci, the nation’s chief infectious disease specialist. Fauci, the director of the National Institute of Allergy and Infectious Diseases, has repeatedly cited more jarring figures in public. For instance, Fauci declared in March 11 congressional testimony that the current coronavirus “is 10 times more lethal than the seasonal flu,” which would be about 1 percent. His testimony generated news headlines that blared across the internet and television news, and it remains frequently cited today. But among his learned colleagues in academia, he has provided the more conservative analysis.


“[T]he case fatality rate may be considerably less than 1%,” Fauci wrote in an article published in the New England Journal of Medicine on March 26. “This suggests that the overall clinical consequences of COVID-19 may ultimately be more akin to those of a severe seasonal influenza (which has a case fatality rate of approximately 0.1%) or a pandemic influenza (similar to those in 1957 and 1968) rather than a disease similar to SARS or MERS, which have had case fatality rates of 9 to 10% and 36%, respectively.” A day after the NEJM article was published, Fauci was back to repeating the higher fatality number in public rather than “considerably less than 1%.” “The mortality of [COVID-19] is about 10 times [flu],” Fauci told Comedy Central host Trevor Noah on March 27.

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A lot of things won’t happen without kickbacks. The system is one sick puppy.. and no reform in sight, since both parties are beholden to the industry as a whole.

Hospital Equipment Shortages Renew Spotlight On Supply Chain Middlemen (JTN)

Healthcare providers facing medical equipment shortages and exorbitantly high drug prices during the coronavirus outbreak are captive to kickback-receiving “middlemen” who lock up hospitals in exclusive contracts that enable price gouging and supply bottlenecks, according to a network of physician advocacy groups representing 3,000 physicians. Nearly 90% of U.S. mayors who responded to a national survey released Friday by the U.S. Conference of Mayors said they lack enough protective equipment for their coronavirus medical workers, and 85% said they do not have enough ventilators for their hospitals.


Dr. Marion Mass, a Duke-educated physician who founded Practicing Physicians of America (PPA), told Just the News that so-called “safe harbor” (legal protection) provisions allowing for payments from medical equipment and drug manufacturers to pharmacy benefit managers (PBMs) and group purchasing organizations (GPO) — what Dr. Mass calls the “middlemen” between providers and manufacturers — amount to “kickbacks.” The “safe harbor” payments are overseen by the U.S. Department of Health and Human Services (HHS), monitored by the HHS Inspector General (IG), and are currently protected by law, but Dr. Mass and her physician network argue they should be repealed.

“After significant consolidation, four behemoth GPOs now control 90% of the entire chain of hospital and nursing home supplies, and we are in the grip of an unspeakably corrupt, pay-to-play system of financial kickbacks,” Mass wrote in a white paper co-authored by the Physicians for Reform and Texas Public Policy Foundation. “If the law that established the ‘safe harbor’ for kickbacks to the GPOs (and extended to PBMs in 2003) was repealed, the cost for medical supplies and medications would fall by an estimated 25% to 30%. The cost of prescription medications would fall by 35% to 43%. Additional declines in prices are projected as true competition replaces a rigged marketplace. We estimate this reform would save Medicare and Medicaid an estimated $75 billion each year.”

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DiMartino Booth tweet: “(Bloomberg) 3 days after President Trump signed $2T stimulus, Kohl’s, Macy’s & Gap joined growing number of retailers to halt pay for much of their workforce while preserving some benefits. With these furloughs, total number of employees out a paycheck at major US chains >500,000”

US COVID19 Job Losses Could Be 47 Million, Unemployment May Hit 32% (CNBC)

Millions of Americans already have lost their jobs due to the coronavirus crisis and the worst of the damage is yet to come, according to a Federal Reserve estimate. Economists at the Fed’s St. Louis district project total employment reductions of 47 million, which would translate to a 32.1% unemployment rate, according to a recent analysis of how bad things could get. The projections are even worse than St. Louis Fed President James Bullard’s much-publicized estimate of 30%. They reflect the high nature of at-risk jobs that ultimately could be lost to a government-induced economic freeze aimed at halting the coronavirus spread. “These are very large numbers by historical standards, but this is a rather unique shock that is unlike any other experienced by the U.S. economy in the last 100 years,” St. Louis Fed economist Miguel Faria-e-Castro wrote in a research paper posted last week.


There are a couple of important caveats to what Faria-e-Castro calls “back-of-the-envelope” calculations: They don’t account for workers who may drop out of the labor force, thus bringing down the headline unemployment rate, and they do not estimate the impact of recently passed government stimulus, which will extend unemployment benefits and subsidize companies for not cutting staff. However, the jobless picture already looks bleak. A record 3.3 million Americans filed initial jobless claims for the week ended March 21. Economists surveyed by Dow Jones expect another 2.65 million to join them this week. Friday’s nonfarm payrolls count for March is expected to show a decline of just 56,000, but that’s largely due to a statistical distortion [..]

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Pelosi falls innto the Chuck Todd “blood on his hands” trap. It’s a cheap political game that should not now be played. Sure, Trump was way off. But so were his advisers (Fauci), all other western and other leaders, and Pelosi herself, who was busy fiddling with impeachment when she could have been focusing on what she now says Trump should have been doing.

Trump Rips Pelosi For Criticizing His Handling Of Coronavirus Pandemic (NYP)

President Trump unleashed on House Speaker Nancy Pelosi in an early morning phone interview on “Fox & Friends,” slamming her comments about his “deadly” handling of coronavirus. Speaking to the Fox News hosts Monday morning, the commander-in-chief described the California Democrat as “a sick puppy,” who has “a lot of problems,” when asked about Pelosi’s criticism of his response to the virus. Trump added that her remarks were “a horrible thing to say.” “When I stopped some very, very infected, very, very sick people — thousands coming in from China — earlier than anyone thought [was necessary], including the experts.

Nobody thought we should do it, except me,” Trump said, adding that he was praised by government infectious disease expert Dr. Anthony Fauci for his decision to close the borders. “If I didn’t do that, you would’ve had deaths like you have never seen before,” he continued before knocking Pelosi for not crediting him for the move. Trump went on to call San Francisco, a city that is part of Pelosi’s district, a “slum,” adding that the federal government may need to address the city’s problems. Speaking about Pelosi’s impeachment crusade against the president — which passed the House but failed in the Senate — Trump said, “Don’t forget, she was playing the impeachment game where she ended up looking like a fool.”

On Sunday, Pelosi slammed Trump’s response to the pandemic, telling CNN, “We should be taking every precaution. What the president, his denial at the beginning was deadly.” “As the president fiddles, people are dying. And we just have to take every precaution,” she continued. CNN host Jake Tapper pressed the speaker on whether she believed Trump’s downplaying of the crisis had cost American lives, to which Pelosi responded, “Yes, I am. I’m saying that.”

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More games. Scheduled to take at least another month. Posing and posturing.

Pelosi Aims To Move Fast On Next Rescue Package (Pol.)

House Democrats are moving rapidly on ambitious plans for a fourth coronavirus relief package, with Speaker Nancy Pelosi eager to put her imprint on legislation that she says could be ready for a vote in the coming weeks. Pelosi told reporters Monday that Democrats are in the early stages of drafting another major bill that will not only shore up health systems and protect frontline health care workers but could include substantial investments in infrastructure. “Our first bills were about addressing the emergency. The third bill was about mitigation. The fourth bill would be about recovery. Emergency, mitigation, recovery,” Pelosi said on a conference call. “I think our country is united in not only wanting to address our immediate needs — emergency, mitigation, and the assault on our lives and livelihoods — but also, how we recover in a very positive way.”


But Democrats’ approach could put them on a collision course with senior Republicans, who say they are very much in wait-and-see mode when it comes to another potential multi-trillion-dollar bill and are warning Pelosi not to try to jam the Senate with a progressive plan. “They’re approaching it — it seems like — as an opportunity to pass their political and ideological agenda. We’re approaching it as, ‘How do we protect the public health and our economy?’ And those are pretty divergent goals,” said Sen. John Cornyn (R-Texas) [..]

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RussiaRussiaRussia is speeding up those hospital boats just to make here look bad. Actually, I don’t want to talk about Maddow.

Rachel Maddow’s Recent Predictions Get Roasted (JTN)

MSNBC host Rachel Maddow on March 20 cast doubt on the notion that two Navy hospital ships would soon reach ports on the East and West coasts to relieve hospitals combatting the coronavirus pandemic as President Trump had promised. The ships have since arrived at their respective destination ports in California and New York where they will serve non-COVID-19 patients in an effort to decrease pressure on the hospitals ashore. “In terms of the happy talk we’ve had on this front from the federal government, there is no sign that the Navy hospital ships that the president made such a big deal of, the Comfort and the Mercy, there’s no sign that they’ll be anywhere on site helping out anywhere in the country for weeks yet,” Maddow said on her television show.


“The president said when he announced that those ships would be put into action against the COVID-19 epidemic, he said one of those ships would be operational in New York harbor by next week. That’s nonsense, it will not be there next week,” Maddow asserted. The USNS Comfort arrived in New York harbor on Monday March 30, while the USNS Mercy arrived in the Port of Los Angeles on Friday March 27 and began accepting patients on Sunday March 29. Republicans on Monday highlighted the Maddow clip.

It isn’t the first time the popular liberal host has faced criticism — both on the left and the right — for her prognostication or promotion. Maddow was criticized in March 2017 when she over-hyped a story about Donald Trump’s 2005 tax returns, underwhelming many viewers once she finally divulged the information she had been teasing. “In positioning it as a grand revelation, a vital step in comprehending Trump’s corruption, MSNBC created an exceedingly cynical spectacle,” Willa Paskin wrote on Slate.com.

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Lesson in federalism. There are lots of things the federal government can’t do that are normal in other countries.

Political Distancing (Turley)

New York Governor Andrew Cuomo called on the federal government to take control of the medical supply market. Illinois Governor J.B. Pritzker demanded that President Trump take charge and said “precious months” were wasted waiting for federal action. Some critics are even more direct in demanding a federal takeover, including a national quarantine. It is the legal version of panic shopping. Many seem to long for federal takeovers, if not martial law. Yet like all panic shopping, they are buying into far more than they need while not doing as much as they could with what they have. For decades, governors tried to retain principal authority over public emergencies, but they did very little with those powers.

While many are doing impressive work now, some governors seem as eager to contain the blame as the coronavirus. Call it political distancing. Even if Trump nationalized the crisis by deploying troops, imposing price controls, and forcing production of ventilators, the Constitution has left most police authority and public health safety to the states in our system of federalism. The Framers believed liberties and powers were safest when held closest to citizens in local and state governments. Elected officials at the local and state levels are more readily held accountable than unknown Washington bureaucrats. Of course, with authority comes responsibility, and the latter notion is not always as welcomed as the former.

Despite all the hyperbole of the last few days, the federal authority of the president to act is much more limited than many appear to believe. Trump cannot, and should not, simply take over the crisis. While he may want to “open for business” by Easter, he has no clear authority to lift state orders for citizens to stay at home. His greatest authority is supplying assistance in the production and delivery of necessary resources such as ventilators. While he can put conditions on some assistance, he cannot commandeer the authority of governors in their responses to the pandemic.

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The virus will change the entire country. But people find it hard to comprehend. Wolf Richter doing well. “Nothing Goes to Heck in a Straight Line”

Many Brick & Mortar Stores Will Not Reopen, CMBS will Default (WS)

Macy’s announced today that it would lay off “the majority” of its 123,000 employees after it had closed all its Macy’s, Bloomingdale’s and Bluemercury stores on March 18. Even before the lockdowns, its headcount was already down 17% from four years ago, in line with the decline of its brick-and-mortar operations. It said these stores would “remain closed until we have clear line of sight on when it is safe to reopen.” Whenever that may be. But “at least through May,” the furloughed employees who were already enrolled in its health benefits program “will continue to receive coverage with the company covering 100% of the premium.” And it said, “We expect to bring colleagues back on a staggered basis as business resumes.” That is, if business at these brick-and-mortar stores resumes.

Department stores have been on a 20-year downward spiral that has ended for many of them in bankruptcy court where they got dismembered and sold off in pieces. The survivors, which have been shuttering their brick-and-mortar stores for years, are now getting hit by the lockdowns. The chart depicts the brick-and-mortar business that Macy’s, Nordstrom, Kohl’s, JCPenney, Neiman Marcus, Sears, Bon-Ton Stores, Barney’s and others are in – or were in. Over the past 20 years, department store revenues declined by 43%. And now they’re getting whacked for good by the lockdowns. That declining line of revenues is going to make a 90-degree downward kink in Q1, Q2 and Q3, to violate the WOLF STREET beer-bug dictum that “Nothing Goes to Heck in a Straight Line”:

As many brick-and-mortar stores have shut down, and as people are fearful about going to those stores that are still open (such as grocery stores), ecommerce sales have exploded. Americans have long been reluctant to buy groceries online. But that has changed overnight. Amazon, Walmart and other online retailers have gone on a hiring binge to deal with the onslaught of online buying, including the stuff people normally bought in grocery stores. Online retail is the huge winner of COVID-19. When the Q1 and Q2 ecommerce revenues emerge, we will see a historic spike in online sales even as brick-and-mortar sales went straight to heck.

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More from Wolf. Depression.

How Will COVID-19 Impact US Manufacturing? First Indications Are Ugly (WS)

Most of the economic data is released weeks and months after the fact. But surveys of manufacturing and service companies foreshadow what will happen with the official data when it finally appears. The Texas manufacturing production index, for which data was collected between March 17 to 25 from 110 Texas-based unnamed manufacturers, plunged from +16.4 in February to -35.3 in March, the largest month-to-month drop in the history of the index going back to 2004, the Dallas Fed reported this morning:

Many manufactures in Texas supply the oil and gas industry, where mayhem had broken out long before the coronavirus lockdowns started impacting the economy. Manufacturer’s perceptions of broader business conditions collapsed from an already low 1.2 reading in February to -70.0, the lowest in survey history. The report observed laconically: “Perceptions of broader business conditions turned quite pessimistic in March”:

The price of crude-oil grade West Texas Intermediate (WTI) has now plunged into the range of $20 per barrel, which is catastrophic for the entire oil and gas sector. This is down from a range of $80 to $110 per barrel from 2010 through mid-2014. In an effort to stay alive a little longer, exploration-and-production companies and oil-field services companies are cutting operations, and as they’re running out of funds, they are slashing orders for equipment and supplies. And this ripples through the Texas economy. The comments made by the executives in the survey ranged from: “We are mostly just concerned.” …to something more apocalyptic: “If we see this downward trend continue, we will run out of cash within four months. New orders and inquiries have stopped instantly. Our work in-house will be finished mid to end of April, with no new orders coming in, all due to this real or imagined shutdown. I believe the country will be in a depression by the fall unless the work environment changes dramatically.”

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Cruise companies lining up for bailouts. Support people instead. The companies go, but the people will remain.

“We Are Temporarily A Company With No Product And No Revenue” (WS)

TUI, the global travel and vacation giant that owns six European airlines, 1,600 travel agencies, over 300 hotels and 14 cruise ships, desperately needs help. And it appears to have got it. On Friday, the company announced that the German government had approved a €1.8 billion loan to help keep the group afloat as COVID-19 brings the global travel sector to a literal standstill. The bridge loan, which still needs to be approved by TUI’s creditors, would be one of the biggest ever issued through German state-owned lender KfW. “We are currently facing unprecedented international travel restrictions. As a result, we are temporarily a company with no product and no revenue. This situation must be bridged,” TUI CEO Fritz Joussen said in a statement. The same could be said for millions of companies around the world. But unlike TUI, many of them don’t have the ear of their national government.


Even as giant travel companies like TUI line up with airlines and cruise owners for multi-billion dollar bailouts, huge question marks loom over the global travel industry’s future. The World Tourism Organization (UNWTO), in its updated assessment of the potential impact of COVID-19 — based on the optimistic assumption that the tourism industry will experience a swift recovery over the next 3-4 months — projects that for the whole year 2020, tourist arrivals will have fallen 20-30% from 2019, and international tourism revenues will have plunged by $300 billion to 450 billion, almost one third of the $1.5 trillion generated in 2019. Taking into account past market trends, this would mean that between five and seven years’ worth of accumulated industry growth will have been wiped out in one fell swoop.

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Why on earth does Airbnb need a $250 million war chest?

Airbnb To Pay Out $250 Million To Hosts To Help Ease Cancellation Pain (R.)

U.S. home rental firm Airbnb said on Monday it was allocating $250 million to help offset losses by hosts around the world whose guests have canceled bookings in the face of the coronavirus pandemic. The aid, which will pay hosts 25% of their normal cancellation fees, is being offered globally except for China, the company said in a letter sent to hosts by Chief Executive Brian Chesky. The payments apply to the cancellation of reservations with check-in dates between March 14 and May 31. Because hosts can choose different cancellation policies – some requiring a penalty payment, with others allowing free cancellation up to a certain date before check-in – not all canceled reservations will qualify.


Airbnb had earlier announced that guests would receive a full refund for the cancellation of reservations made on or before March 14 for check-in between March 14 and April 14, which angered many hosts. Airbnb also said that hosts could cancel reservations without a charge. Airbnb said it is funding the program for hosts itself and will begin to issue the payments in April. Airbnb’s revenue in 2019 exceeded $4.8 billion, up 35% on the year, and it has $3 billion in cash, a source told Reuters last week. [..] Airbnb also said it is creating a $10 million relief fund for its Superhosts – so-named for meeting certain requirements including good ratings – who rent out their own home and need help paying their rent or mortgage, and some Experience hosts who charge for sharing an experience like food tours.

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Not much has changed. China still cares little about credibility.

China Says Manufacturing Activity Expanded In March (CNBC)

China on Tuesday said the official Purchasing Manager’s Index for March was 52.0, beating expectations for an economy hit by the coronavirus outbreak. Analysts polled by Reuters had expected the official PMI to come in at 45 for the month of March. In February, the official PMI hit a record low of 35.7. PMI readings above 50 indicate expansion, while those below that level signal contraction. China’s National Bureau of Statistics said in its announcement of the PMI reading that there was continued improvement in the prevention and control of the outbreak in March, with a significant acceleration in the resumption of production. Sub-indices for production, new orders and employment expanded, the bureau said.


The bureau attributed the expansionary PMI reading to the low base in February, but cautioned that it does not mean that the country’s economic activities have returned to normal levels. Earlier this year, manufacturing activity slowed dramatically in China as the government instituted large-scale lockdowns and quarantines to contain the spread of the coronavirus disease, formally known as COVID-19. Qian Wang, Asia Pacific chief economist at Vanguard Investment Strategy, said March’s manufacturing PMI reading was “totally expected” as activity improved during the month. “In February, the Chinese economy was at a full stop. It doesn’t take much to rise from such a low base,” she told CNBC’s “Street Signs.”

Read more …

The EU will have to throw out Hungary.

– State of emergency w/o time limit
– Rule by decree
– Parliament suspended
– No elections
– Spreading fake news + rumors: up to 5 yrs in prison
– Leaving quarantine: up to 8 yrs in prison

Hungary’s Viktor Orbán Wins Vote To Rule By Decree Indefinitely (Pol.)

The Hungarian parliament on Monday voted by a two-thirds majority to allow the government of Prime Minister Viktor Orbán to rule by decree without a set time limit. While the new legislation remains in place, no elections can be held and Orbán’s government will be able to suspend the enforcement of certain laws. Plus, individuals who publicize what are viewed as untrue or distorted facts — and which could interfere with the protection of the public, or could alarm or agitate a large number of people — now face several years in jail. In the vote, 137 members of parliament were in favor, 53 against and 9 did not cast a ballot. The new rules can only be lifted with another two-thirds vote of the parliament and a presidential signature.

The legislation has elicited deep concern both among civil rights groups in Hungary and international institutions, with officials from the Council of Europe, United Nations and Organization for Security and Co-operation in Europe publicly expressing fears about the bill. The legislation also drew criticism from members of the European Parliament. Critics say that emergency measures to address the coronavirus crisis should be temporary and time-limited to allow for checks and balances. Hungary is currently facing Article 7 proceedings under the EU Treaty, used when a country is considered at risk of breaching the bloc’s core values.

“Civil society, journalists and international and European organizations will have to step up their efforts even more in this new situation to ensure that the potential for grave abuses by government overreach are monitored, documented and responded to,” Márta Pardavi, co-chair of the Hungarian Helsinki Committee, a human rights NGO, said following the passage of the bill. “It’s now essential that the idea that executive power cannot be unlimited is reinforced by action,” she said. “The health crisis cannot be allowed to turn into a constitutional crisis.”

Read more …

To make sure they have access to health care.

The opposite of Orban.

Portugal Gives Migrants, Asylum-Seekers Full Citizenship Rights (CNN)

Portugal has temporarily given all migrants and asylum seekers full citizenship rights, granting them full access to the country’s healthcare as the outbreak of the novel coronavirus escalates in the country. The move will “unequivocally guarantee the rights of all the foreign citizens” with applications pending with Portuguese immigration, meaning they are “in a situation of regular permanence in National Territory,” until June 30, the Portuguese Council of Ministers said on Friday. The Portuguese Council of Ministers explained that the decision was taken to “reduce the risks for public health” of maintaining the current scheduling of appointments at the immigration office, for both the border agents and the migrants and asylum seekers.


Portugal declared a State of Emergency on March 18 that came into effect at midnight that day and was due to last for 15 days. Portuguese Prime Minister Antonio Costa said during a news conference that “democracy won’t be suspended.” The country was a dictatorship for decades, with democracy being restored in 1974. President Marcelo Rebelo de Sousa called the Covid-19 pandemic “a true war,” which would bring true challenges to the country’s “way of life and economy.” Rebelo de Sousa also praised the behavior of Portuguese citizens, “who have been exemplary in imposing a self-quarantine,” reflecting “a country that has lived through everything.”

Read more …

Mass gatherings. Religious, soccer, carnival. That’s where most infections originate in Europe.

Five Days Of Worship That Set A Virus Time Bomb In France (R.)

From the stage of an evangelical superchurch, the leader of the gospel choir kicked off an evening of prayer and preaching: “We’re going to celebrate the Lord! Are you feeling the joy tonight?” “Yes!” shouted the hundreds gathered at the Christian Open Door church on Feb. 18. Some of them had travelled thousands of miles to take part in the week-long gathering in Mulhouse, a city of 100,000 on France’s borders with Germany and Switzerland. For many members of this globe-spanning flock, the annual celebration is the highpoint of the church calendar. This time, someone in the congregation was carrying the coronavirus. The prayer meeting kicked off the biggest cluster of COVID-19 in France – one of Europe’s hardest-hit countries – to date, local government said.

Around 2,500 confirmed cases have been linked to it. Worshippers at the church have unwittingly taken the disease caused by the virus home to the West African state of Burkina Faso, to the Mediterranean island of Corsica, to Guyana in Latin America, to Switzerland, to a French nuclear power plant, and into the workshops of one of Europe’s biggest automakers. Weeks later, Germany partially closed its border with France, suspending a free-movement pact that has been in place for the past 25 years. The church cluster was a key factor, two people familiar with the German decision told Reuters. Church officials told Reuters that 17 members of the congregation have since died of complications linked to the disease.

[..] As the faithful gathered on a clear Tuesday evening in the church, an old shopping centre converted into a 2,500 seat auditorium, the disease seemed remote. France had 12 confirmed cases, according to World Health Organization (WHO) data. There were none in the Mulhouse area. France, like other governments in northern Europe, had imposed no restrictions on big meetings. There was no alcohol gel for the congregations to clean their hands, no elbow bumps instead of handshakes. “At the time, we viewed COVID as something that was far off,” said Jonathan Peterschmitt, son of the lead pastor and grandson of the church’s founder. His father, Samuel, was unavailable for an interview because he had been sickened by the virus, his son and a church spokeswoman said.

Read more …

“The world is still here. We’re just going to have to learn to live in it differently.”

People Get Ready! (Kunstler)

The cable news announced the other day that Covid-19 patients placed in critical care may have to be on ventilators for 21 days. Only a few years ago, I went in for an ordinary hip replacement. A month or so later, I got the hospital billing statement. One of the line-items went like this: Room and board: 36 hours…$23,482.79. I am not jiving you. That was just for the hospital bed and maybe four lousy hospital meals, not the surgery or the meds or anything else. All that was billed extra. Say, what…? Now imagine you have the stupendous good fortune to survive a Covid-19 infection after 21 days on a ventilator and go home. What is that billing statement going to look like? Will the survivors wish they’d never made out of the hospital alive?

Right now, we’re in the heroic phase of the battle against a modern age plague. The doctors, nurses, and their helpers are like the trembling soldiers in an amphibious landing craft churning toward the Normandy beach where the enemy is dug in and waiting for them, with sweaty fingers on their machine guns and a stink in the pillbox. Some of the doctors and nurses will go down in the battle. The fabled fog-of-war will conceal what is happening to the health care system itself, while the battle rages. After that, what? One thing will be pretty clear: That the folks in charge of things gave trillions of dollars to Wall Street while tens or perhaps hundreds of thousands of Covid-19 survivors got wiped out financially with gargantuan medical bills.

Do you think the Chargemaster part of the hospital routine will just stop doing its thing during this emergency? The billings will continue – just as the proverbial beatings will continue until morale improves! In the aftermath, I can’t even imagine the ‘splainin’ that will entail. The rage may be too intense to even get to that. For some, it may be time to lubricate the guillotines? Meantime, of course, the global economy has shut down which suggests to me, anyway, that any prior frame of reference you may have had about money and business and social normality goes out the window. The world is still here. We’re just going to have to learn to live in it differently.

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“..the Netherlands will “no longer be a rich country in the North if the South falls.”

Italian Politicians Criticize Netherlands Over Lack Of Solidarity (NLT)

A group of 12 Italian politicians lambasted the Netherlands on Tuesday, angered by Dutch reticence to support European financial assistance to countries most affected by coronavirus. The Netherlands blocked emergency aid to EU member states, despite “using its tax system to withdraw tax revenue from major European countries for years,” they wrote in an open letter published in German newspaper Frankfurter Allgemeine Zeitung. At issue are “coronabonds”, where the funds raised from selling such bond instruments would be used to help all member states overcome economic hurdles during the ongoing health crisis. The money could then be invested in supporting any EU member state, while repayment obligations would be the responsibility of the entire EU.

Nine nations supported the plan. “However, the Netherlands are currently leading a group of countries that oppose this strategy, and Germany also seems to want to follow this group,” the politicians said, accusing the Dutch tax regime of siphoning money away from other member states which would otherwise have allowed them to assist “the socially week… who are most affected by the crisis today.” The politicians, led by Member of Europea Parliament Carlo Calenda, called for the German public to recall the unified support it had to rebuild after World War II, up through the country’s reunification. “The Dutch attitude is an example of a lack of ethics and solidarity in every respect.”

That sentiment was echoed by the leader of Dutch political party ChristenUnie, one of the parties in the governing coalition led by Prime Minister Mark Rutte. “[Italy] is in ruins. The first message, in my opinion, would be: we are going to help you,” said Gert-Jan Segers. He also called for an approach like the U.S. Marshall Plan which promoted the reconstruction of European nations after the War. The large European rescue fund could be structured similarly to the billions of deutschmarks Germany needed even though it “could never have repaid the accumulated debts,” the Italians stated. Former Dutch Central Bank leader Nout Wellink was also critical of the Dutch approach, saying that the crisis and the debt needed to get past it is “a shared responsibility.” He said, “the Netherlands will “no longer be a rich country in the North if the South falls.”

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Jennifer Baer

 

 

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Jun 262018
 


Jan van Eyck Crucifixion and Last Judgement 1430

 

A -Very- Bad Day to Be Long Wall Street’s ‘Synchronized Global Recovery’ (HE)
Fed’s Effort To Control The Rise Of Its Key Interest Rate Is Faltering (CNBC)
Russia, China And India Move To Prepare For Global Reset (Greyerz)
Trump Tariffs Force Companies To Rework Supply Chains (R.)
Trump Officials Send Mixed Signals On China Investment Curbs, Markets Sink (R.)
Pepe Escobar On Trump, ‘New York Aristocracy’ and the Deep State (ZH)
Britain Is Becoming A Stupid Country (G.)
Brexit Uncertainty Puts 860,000 Jobs At Risk, Warns Car Industry (G.)
Tesla’s “Preposterous” Model 3 Production Tent (ZH)
Accused Russian Company Says Mueller Was Unlawfully Appointed (R.)
How Comey Intervened To Kill Assange Immunity Deal (Hill)
Algeria Abandons 13,000 Migrants In The Sahara In Waves (AP)
Brazil Moves To Loosen Pesticide Laws (G.)
David Lynch on Trump (G.)

 

 

China slowdown.

A -Very- Bad Day to Be Long Wall Street’s ‘Synchronized Global Recovery’ (HE)

It’s a nasty day to be long Wall Street’s “synchronized global recovery.” Chinese stocks are down -20% from their January highs. Emerging Market equities, like Argentina and the Philippines, have been rocked by the one-two punch of a stronger dollar and slowing growth. Italian equities are down -12% since early May. Our read on global stagflation remains firmly intact. In other words, it’s not the threat of President Trump’s trade wars that continue to weigh on global equity markets, it’s slowing economic data. We don’t expect these trends to reverse anytime soon. The evidence of global growth slowing is everywhere.

The latest news out of China is that the PBoC lowered the reserve requirements for some Chinese banks, thereby releasing $108 billion in liquidity. The media quickly blamed President Trump’s “trade wars” for the move. However, the economic tea leaves suggest China’s ongoing growth slowdown is the culprit. The ripple effects of #ChinaSlowing are already being felt in Emerging Asia, like Philippine equities. (China is one of the Philippines’ primary trading partners. #ChinaSlowing = Not good.) We continue to forecast #EuropeSlowing, despite ECB head Mario Draghi’s claim that European “growth momentum” is alive and well. If the data is so good, why did Eurozone Industrial Production get more-or-less cut in half in April (1.7% YoY i! from 3.2%)?

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What control?

Fed’s Effort To Control The Rise Of Its Key Interest Rate Is Faltering (CNBC)

The Federal Reserve’s effort earlier this month to tamp down the rise of its benchmark interest rate already isn’t running as smoothly as officials might have anticipated. At its June 12-13 meeting, the Federal Open Market Committee hiked its target overnight funds rate 0.25 points to a range of 1.75 percent to 2 percent. At the same time, it raised the interest on excess reserves 0.2 points to 1.95 percent. The move was meant to contain the rise of the funds rate, which historically trails the IOER. In the weeks running up to the meeting, the funds rate closed within 5 basis points, or 0.05 percent, of the IOER, instead of staying within the midpoint of the target range as it has done since the Fed began hiking the funds rate in December 2015.

However, in the days since, the funds rate has moved even closer to the IOER. As of Friday trading, the funds rate has edged up to 1.92 percent — now just 3 basis points away from the IOER, though still 8 points away from the top of the trading range set at this month’s meeting. For the Fed, it’s a potential headache as the central bank sees to unwind the programs it initiated the pull the economy out of the financial crisis. The Fed kept interest rates at historically low levels and bought up nearly $4 trillion worth of Treasurys and mortgage-backed securities in an effort to keep rates anchored and maintain liquidity flow through the financial system. For investors, it means that continued upward pressure on the funds rate as the Fed unwinds the bonds on its balance sheet could keep the FOMC at bay in its stated intention to continue hiking interest rates.

“Here we are, and I think they will be lucky to get one more done this year, because whenever the curve flattens the market’s going to look at the Fed and say, ‘Really?’ and the Fed will have to blink,” said Christopher Whalen, head of Whalen Global Advisors, an investment bank consultancy. “They’re telling everyone there’s going to be a couple more rate increases, and that’s fanciful.”

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But when?

Russia, China And India Move To Prepare For Global Reset (Greyerz)

Egon von Greyerz: “While the US government worries about the military threat of Russia, and the trade deficit with China, they show no concern for the real problems. To understand what is really happening, all we need to do is to ‘Follow the Money.’ The flows of real money reveal where global economic power is moving. “The US has not had a real budget surplus for almost 60 years and has run balance of payment deficits every year since 1975. A country that lives above its means for over half a century is technically and economically bankrupt. Its debt should have zero value and so should its currency. But the US has skillfully avoided bankruptcy, so far, by having the reserve currency of the world and being the biggest military power.

Both Russia and China can see the writing on the wall. They understand that the world’s most indebted country cannot solve its debt problem by issuing more debt. That is why Russia and China, together with India, are buying most of the global gold production every year. In May Russia added another 600,000 oz or almost 20 tonnes to its gold reserves. Since January 2018, when Trump became president, US debt has increased by 6% or $1.1 trillion to $21.1 trillion, while Russia has added another 9 million oz of gold, and are now holding $80 billion of gold reserves. So while the US economy is taking the road to perdition, Russia knows that the only money that will survive is gold — just like it always has! For years the world has financed the US debt by buying US treasuries. But we are now seeing a marked change.

Many countries are currently liquidating US Treasuries. They know what will happen to US debt and are trying to get rid of their holdings in an orderly manner in order to avoid US Treasuries crashing together with the dollar. This is what will happen at some point in the next 1-3 years. Global investors will panic out of dollar denominated bonds, leading to a crash of both the US currency and dollar debt. The Chinese know this but their US Treasury holdings are so large that they need to sell slowly in order not to shoot themselves in the foot. In the end, China is likely to take a major loss on its dollar Treasury holdings but that is the price they have been willing to pay in order to build up their economy and manufacturing sector through financing US deficit spending.

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Multinationals and de-globalization.

Trump Tariffs Force Companies To Rework Supply Chains (R.)

From global manufacturers such as Harley-Davidson to small tech startups, companies are scrambling to rework supply chains built for an era of stable, open trade policy that is now under threat. As U.S. President Donald Trump pushes to upend the status quo of global trade, companies that initially took a wait-and-see stance are starting to take action to shield their businesses from shifting trade policy. On Monday, U.S. motorcycle maker Harley warned of higher costs because of retaliatory EU tariffs, and said it would shift production of bikes destined for the European Union out of the United States to factories it has built in India, Brazil and Thailand.

The decision of the Milwaukee, Wisconsin-based company, which Trump vowed to make great again when he took office, came less than a week after Mercedes-Benz maker Daimler cut its 2018 profit forecast, citing growing trade tensions. Its German rival BMW said it was considering “possible strategic options” in view of the rising trade tensions between China and the United States. Harley is the latest example of how companies are finding themselves in the crosshairs following “tit-for-tat” retaliations over Trump’s bid to rewrite global trade rules as part of his “America First” agenda. Office furniture maker Steelcase last week reported a 230 basis-point fall in the gross margins of its American business in the first quarter due to higher raw materials costs following Trump’s metal import tariffs.

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And still negotiating.

Trump Officials Send Mixed Signals On China Investment Curbs, Markets Sink (R.)

Conflicting signals from the Trump administration over proposed restrictions on foreign investment in U.S. technology companies, along with news that recently imposed import tariffs are starting to disrupt supply chains, sent global stock markets tumbling on Monday. Proposed restrictions on foreign investment in U.S. technology would not just be confined to China, according to U.S. Treasury Secretary Steven Mnuchin. The forthcoming restrictions would apply “to all countries that are trying to steal our technology,” he said. The U.S. Treasury is due to issue its recommendations on Chinese investment restrictions on Friday.

Late Monday White House trade and manufacturing adviser Peter Navarro sought to downplay Mnuchin’s remarks, telling CNBC television that the restrictions on investments in U.S. technology companies would just target China. Benchmark Wall Street stock indexes suffered their worst losses in two months on Monday, while safe haven Treasury debt yields fell. U.S. technology stocks were worst hit. Alphabet, the parent of Google, fell 2.6 percent, Apple lost 2.75 percent, and Amazon dropped 3.0 percent. The recent imposition of import tariffs by the U.S., and counter-measures by other countries, are also starting to affect global production and supply chains. Some U.S. steel and aluminium tariffs went into effect in April and additional tariffs begin in July.

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China has much more to lose than the US.

Pepe Escobar On Trump, ‘New York Aristocracy’ and the Deep State (ZH)

Trump, Escobar explains, wasn’t born into the Manhattan aristocracy. And though the “Masters of the Universe” – a group that includes the country’s top bankers along with the leaders of the military and intelligence communities – were initially reluctant to embrace him (as were many factions within the Republican Party), they eventually changed their minds once they understood that he would advocate for their interests. “He’s not born in lower Manhattan…and he’s not part of the New York aristocracy, the establishment that’s been there for some 150 to 200 years…he’s still regarded in New York as a wealthy outsider. But in the end, he was accepted by some sectors of the Republican Party – even though they initially didn’t want to accept him – Washington, some sectors of the Republican Party.”

He was the candidate of the establishment from the beginning, or he was a genuine candidate whose regime has now been disturbed by the Deep State. He was vetoed by the establishment – this is something that people who know how the Deep State works in DC they will tell you always the same thing: You don’t become a candidate for a President of the United States if you are not vetted…by the people who actually run the US.” Trump was vulnerable to this manipulation because he doesn’t have a nuanced enough understanding of geopolitics…which has forced him to rely on advisors whispering in his ear…advisors whose intentions aren’t always working in the best interest of the president, or the American people, for that matter.

One example is Trump’s insistence on instigating a trade war between China and the US. While China has many ways to retaliate against the US, as least when it comes to finding markets for their goods, US companies have more options than their Chinese peers. “Trump still doesn’t understand that the retaliation is going to be really huge from the Chinese and they have ways of hurting badly – they even have ways of ratcheting up taxes on products made in the Midwest. But they’re going to lose much more than we do. We have other markets. We export more to Asia, we export more to South America and we export more to Europe.”

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Been coming for a while now.

Britain Is Becoming A Stupid Country (G.)

Melvyn Bragg has said Britain is becoming a stupid country, in part because its university system is being destroyed. The broadcaster and Labour peer criticised the state of British higher education in an interview with the magazine Radio Times. “We have, per capita, the best university system in the world, but it’s being – carelessly and utterly stupidly – destroyed very slowly,” he said. “We used to be the clever country and now we’re clearly the stupid country. Except for certain highlights.”

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Wait till the bankers start to protest.

Brexit Uncertainty Puts 860,000 Jobs At Risk, Warns Car Industry (G.)

The car industry has warned Theresa May there is “no Brexit dividend” for the business, with 860,000 jobs being put at risk unless the government “rethinks” its red lines in negotiations. In the starkest warning yet from a single business sector, the car lobby has told the government that it needs “as a minimum” to remain in the customs union and a deal that delivers “single market benefits”. “There is no Brexit dividend for our industry,” Michael Hawes, chief executive of the Society of Motor Manufacturers and Traders, said. It said Brexit uncertainty was thwarting investment and repeated calls for the UK to stay in the customs partnership until the government came up with a “credible plan B”.

With investment slowing and time running out, negotiators must get on with the job of agreeing a deal that will put an end to uncertainty and prioritise the needs of the automotive sector, the SMMT said. The sector had grown for the eighth successive year with turnover at a record £82bn in 2017. However it said 2018 has showed a slowdown in output with investment earmarked for new models, equipments and facilities in the UK halving to around £347m. [..] “With decisions on new vehicle models in the UK due soon, government must take steps to boost investor confidence and safeguard the thousands of jobs that depend on the sector,” it said ahead of a key conference for the automotive industry.

The government had “no credible Plan B” for customs arrangements post-Brexit, it said, that would keep the Port of Dover flowing freely. Car manufacturers rely on what is known as “just in time” production whereby components, mostly from the EU, cross the channel just hours before they are needed on the assembly line. More than 1,000 trucks a day cross the channel with these components.

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Not even Onion.

Tesla’s “Preposterous” Model 3 Production Tent (ZH)

Bears and bulls alike following Tesla’s gripping nailbiter of a story – the company has until the end of the month to pumpt out 5,000 Model 3 sedans a week – both agree on one thing: the output of the company’s new “tent” structure which Musk erected recently to produce Model 3 vehicles is going to decide whether or not the company hits its production goal that it has touted over the last couple of months. The tent was erected in just a matter of weeks, and came online in early June, to help the company produce more vehicles at a time when they are under the microscope. Until recently, we didn’t know the details as to when it was erected, what the timing looked like and what it is expected to produce.

However, a Bloomberg article out today helped shed some light on the details of what is arguably the most important – if archaic – structure that Tesla has built yet. Not surprisingly, opinions extend the whole gamut, with some manufacturing experts claiming the tent is “basically nuts”: “Elon Musk has six days to make good on his pledge that Tesla will be pumping out 5,000 Model 3 sedans a week by the end of the month. If he succeeds, it may be thanks to the curious structure outside the company’s factory. It’s a tent the size of two football fields that Musk calls “pretty sweet” and that manufacturing experts deride as, basically, nuts. [..] Inside the tent in Fremont, California, is an assembly line Musk hastily pulled together for the Model 3. That’s the electric car that is supposed to vault Tesla from niche player for the wealthy to high-volume automaker, bringing a more affordable electric vehicle to the masses.”

Analysts at Bernstein are equally unimpressed. Here is a quote from Max Warburton who benchmarked auto assembly plants before his job as a financial analyst: “Words fail me. It’s insanity,” said Max Warburton, who benchmarked auto-assembly plants around the world before becoming a financial analyst. [..] What gives manufacturing experts pause about Tesla’s tent is that it was pitched to shelter an assembly line cobbled together with scraps lying around the brick-and-mortar plant. It smacks of a Hail Mary move after months of stopping and starting production to make on-the-fly fixes to automated equipment, which Musk himself has said was a mistake. “The existing line isn’t functional, it can’t build cars as planned and there isn’t room to get people into work stations to replace the non-functioning robots,” Warburton said. “So here we have it—build cars manually in the parking lot.”

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Surprising argument. They must think it has merit.

Accused Russian Company Says Mueller Was Unlawfully Appointed (R.)

A Russian company accused of helping fund a propaganda operation to sway the 2016 presidential election in Donald Trump’s favor asked a federal judge on Monday to dismiss charges brought by Special Counsel Robert Mueller, saying Mueller was unlawfully appointed and lacks prosecutorial authority. Concord Management and Consulting LLC, a firm that prosecutors say is controlled by a businessman dubbed by Russian media as “Putin’s cook,” argued in a filing in U.S. district court in Washington that Deputy Attorney General Rod Rosenstein violated the Appointments Clause of the U.S. Constitution when he hired Mueller in May 2017.

Concord is one of three entities, along with 13 Russian individuals, indicted by Special Counsel Robert Mueller’s office in February in an alleged criminal and espionage conspiracy to tamper with the U.S. race, boost Trump and disparage his Democratic opponent, Hillary Clinton. The indictment said Concord is controlled by Russian businessman Evgeny Prigozhin, who U.S. officials have said has extensive ties to Russia’s military and political establishment. In it, Concord is alleged to have controlled funding, recommended personnel and overseen the activities of the propaganda campaign. Concord is the only one of the defendants in the case to have formally responded to the charges in federal court. Earlier this year, it hired American lawyers to fight the indictment.

Under the Constitution’s Appointments Clause, principal officers such as cabinet secretaries are appointed by the president and confirmed by the United States Senate while “inferior officers” may be appointed by courts or department heads if permitted by Congress. Concord’s lawyers say that Mueller qualifies as an “officer” under the clause and not a routine federal employee under the law because of his vast prosecutorial authority. They say that no matter whether Mueller is deemed an “inferior” or “principal” officer, his appointment still violates the Constitution. As a principal officer, they say, he should have been appointed by the president and confirmed by the Senate.

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Behind the scenes.

How Comey Intervened To Kill Assange Immunity Deal (Hill)

One of the more devastating intelligence leaks in American history — the unmasking of the CIA’s arsenal of cyber warfare weapons last year — has an untold prelude worthy of a spy novel. Some of the characters are household names, thanks to the Russia scandal: James Comey, fired FBI director. Sen. Mark Warner (D-Va.), vice chairman of the Senate Intelligence Committee. Department of Justice (DOJ) official Bruce Ohr. Julian Assange, grand master of WikiLeaks. And American attorney Adam Waldman, who has a Forrest Gump-like penchant for showing up in major cases of intrigue. Each played a role in the early days of the Trump administration to try to get Assange to agree to “risk mitigation” — essentially, limiting some classified CIA information he might release in the future.

The effort resulted in the drafting of a limited immunity deal that might have temporarily freed the WikiLeaks founder from a London embassy where he has been exiled for years, according to interviews and a trove of internal DOJ documents turned over to Senate investigators. But an unexpected intervention by Comey — relayed through Warner — soured the negotiations, multiple sources tell me. Assange eventually unleashed a series of leaks that U.S. officials say damaged their cyber warfare capabilities for a long time to come. This yarn begins in January 2017 when Assange’s legal team approached Waldman — known for his government connections — to see if the new Trump administration would negotiate with the WikiLeaks founder, holed up in Ecuador’s London embassy.

[..] Ohr consulted his chain of command and the intelligence community about what appeared to be an extraordinary overture that raised hopes the government could negotiate what Assange would release and what he might redact, to protect the names of exposed U.S. officials. Assange made clear through the lawyer that he would never compromise his sources, or stop publishing information, but was willing to consider concessions like redactions. Although the intelligence community reviled Assange for the damage his past releases caused, officials “understood any visibility into his thinking, any opportunity to negotiate any redactions, was in the national security interest and worth taking,” says a senior official involved at the time.

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Unconscionable EU comment: “sovereign countries” can expel migrants as long as they comply with international law..”

Algeria Abandons 13,000 Migrants In The Sahara In Waves (AP)

Assamaka, Niger — From this isolated frontier post deep in the sands of the Sahara, the expelled migrants can be seen coming over the horizon by the hundreds. They look like specks in the distance, trudging miserably across some of the world’s most unforgiving terrain in the blistering sun. They are the ones who made it out alive. Here in the desert, Algeria has abandoned more than 13,000 people in the past 14 months, including pregnant women and children, stranding them without food or water and forcing them to walk, sometimes at gunpoint, under temperatures of up to 48ºC (118ºF). In Niger, where the majority head, the lucky ones limp across a desolate 15-kilometer (9-mile) no man’s land to Assamaka, less a town than a collection of unsteady buildings sinking into drifts of sand.

Others, disoriented and dehydrated, wander for days before a U.N. rescue squad can find them. Untold numbers perish along the way; nearly all the more than two dozen survivors interviewed by The Associated Press told of people in their groups who simply could not go on and vanished into the Sahara. [..] Algeria’s mass expulsions have picked up since October 2017, as the European Union renewed pressure on North African countries to head off migrants going north to Europe via the Mediterranean Sea or the barrier fences with Spain. These migrants from across sub-Saharan Africa — Mali, the Gambia, Guinea, Ivory Coast, Niger and more — are part of the mass migration toward Europe, some fleeing violence, others just hoping to make a living.

A European Union spokesperson said the EU was aware of what Algeria was doing, but that “sovereign countries” can expel migrants as long as they comply with international law. Unlike Niger, Algeria takes none of the EU money intended to help with the migration crisis, although it did receive $111.3 million in aid from Europe between 2014 and 2017. Algeria provides no figures for the expulsions. But the number of people crossing on foot to Niger has been rising steadily since the International Organization for Migration started counting in May 2017, when 135 people were dropped at the crossing, to as high as 2,888 in April 2018. In all, according to the IOM, a total of 11,276 men, women and children survived the march.

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Corrupt countries have no chance against Monsanto.

Brazil Moves To Loosen Pesticide Laws (G.)

A Brazilian Congress commission has approved a controversial bill to lift restrictions on pesticides despite fierce opposition from environmentalists, prosecutors, health and environment ministry bodies, and even United Nations special rapporteurs. Driven by a powerful agribusiness lobby, the bill now needs to be voted on in both houses of Congress and sanctioned by President Michel Temer before becoming law. Its proponents say it will free up bureaucracy and modernise dated legislation. But the bill has generated fierce opposition in Brazil, one of the world’s biggest food producers and biggest consumers of pesticides, even those banned in other countries.

Opponents dubbed it the “poison package” and said it would lead to the indiscriminate use of dangerous pesticides, while 250,000 signed an online petition against it. “The law will make us more permissive than we already are,” said Larissa Bombardi, a professor of geography and pesticides specialist at the University of São Paulo. “The economic interest will prevail over human and environmental health.” Of 121 pesticides permitted in Brazil for coffee production, 30 are already banned in the European Union, including the toxic herbicide paraquat, Bombardi reported in an extensive 2017 study. The bill overhauls existing legislation, allowing for pesticides to be given temporary register if the approval process has taken over two years and three countries in the OECD have already approved it.

[..] Under Brazil’s current legislation, pesticides with elements considered teratogenic, carcinogenic, mutagenic, endocrine disruptive, or posing risks to the reproductive system can’t be registered, they said. But under the bill, hazardous pesticides will only be prohibited when there is a “scientifically established unacceptable risk” – a definition too vague to be effective. Greenpeace attacked lawmakers for approving the bill in the face of such wide opposition. “They want a toxic product to look less threatening,” said Marcio Astrini, Greenpeace Brazil’s public policy coordinator. “The toxic garbage being banned in the rest of the planet will be sold here.”

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He’s not that wrong. He won’t be a great president, but the disruption is needed.

David Lynch on Trump (G.)

David Lynch on Trump: “He could go down as one of the greatest presidents in history because he has disrupted the thing so much. No one is able to counter this guy in an intelligent way.” While Trump may not be doing a good job himself, Lynch thinks, he is opening up a space where other outsiders might. “Our so-called leaders can’t take the country forward, can’t get anything done. Like children, they are. Trump has shown all this.”

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