Sep 172019
 


Odilon Redon The boat 1900

 

Iran Supreme Leader Rules Out Negotiations With US (AFP)
UK Supreme Court To Rule On Parliament Recall (BBC)
DOJ Labels JPMorgan’s Precious Metals Trading Desk A Criminal Enterprise (ZH)
New York Times’ Botched Kavanaugh Story Latest In Series Of Blunders (CNN)
New York Prosecutors Subpoena Eight Years Of Trump Tax Returns (G.)
Epstein Accusers Cannot Recoup Damages Over Lenient Plea Deal – US Judge (R.)
The Magnitskiy Myth Exploded (Murray)
Apple Takes Fight Against €13 Billion EU Tax Order To Court (R.)
A View from the Brink (Kunstler)
Edward Snowden Implores Macron To Grant French Asylum (ZH)
Aid Workers Warn Of Catastrophe In Greek Refugee Camps (G.)
Amazon Deforestation Is Driven By Criminal Networks (G.)
Attenborough Documentaries Mislead Us Into Thinking Wildlife Doing Fine (Ind.)

 

 

They’ll talk.

Iran Supreme Leader Rules Out Negotiations With US (AFP)

Iran’s supreme leader Ayatollah Ali Khamenei on Tuesday ruled out negotiations with the US, as tensions mount between the arch-foes after Washington blamed Tehran for attacks on Saudi oil installations. “The policy of ‘maximum pressure’ against the Iranian nation is worthless and all Islamic Republic of Iran officials unanimously believe there will be no negotiations with the US at any level,” he said, quoted on his official website. The White House said on Sunday that US President Donald Trump could meet Iranian counterpart Hassan Rouhani on the sidelines of the United Nations General Assembly in New York next week.

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What happens is the Supreme Court, too, says it’s a matter for Parliament to decide, not the courts?

UK Supreme Court To Rule On Parliament Recall (BBC)

Boris Johnson has said he will “wait and see what the judges say” before deciding whether to recall Parliament. The Supreme Court will hear two appeals that will determine whether the prime minister acted lawfully in suspending Parliament for five weeks. Edinburgh’s Court of Session said the shutdown was unlawful and London’s High Court said it was not a court matter. On Monday the PM visited Luxembourg for Brexit talks, but the EU said it was yet to see concrete proposals.


Mr Johnson pulled out of a joint press conference with Luxembourg Prime Minister Xavier Bettel, blaming noisy protesters, but Mr Bettel went on to criticise Mr Johnson’s approach to Brexit. The suspension of Parliament, a process known as proroguing, began a week ago. MPs are not scheduled to return until 14 October, when there will be a Queen’s Speech outlining Mr Johnson’s legislative plans. The UK is due to leave the EU on 31 October. Opposition parties have called for Parliament to be recalled.

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Will they go to jail? And if so, how many of them? What about Blythe Masters?

DOJ Labels JPMorgan’s Precious Metals Trading Desk A Criminal Enterprise (ZH)

Who would have thought that JPMorgan’s precious metals trading desk is the functional equivalent of the mafia, and that its one-time leader, Blythe Masters, was the mafia’s don? Well, almost everyone who didn’t mind being designated a conspiracy theorist for years. And now comes vindication, because this has just been confirmed by the DOJ, which accused the PM trading desks at JPMorgan of being deeply involved in what prosecutors described as a “massive, multiyear scheme to manipulate the market for precious metals futures contracts and defraud market participants.” In an indictment unsealed on Monday morning, the DoJ charged Michael Nowak, a JPMorgan veteran and former head of its precious metals trading desk and Gregg Smith, another trader on JPM’s metals desk, in the probe. (Blythe Masters was somehow omitted).

“Based on the fact that it was conduct that was widespread on the desk, it was engaged in in thousands of episodes over an eight-year period — that it is precisely the kind of conduct that the RICO statute is meant to punish,” Assistant Attorney General Brian Benczkowski told reporters. Here’s where it gets extra interesting: according to Bloomberg, the unusually aggressive language language embraced by prosecutors reminds legal experts of indictments utilizing the RICO Act – a law allowing prosecutors to take down ‘criminal enterprises’ like the mafia by charging all members of the organization for any crimes committed by an individual on behalf of the organization.

Prosecutors charged the head of JP Morgan’s global metals trading operation and two other traders with “conspiracy to conduct the affairs of an enterprise involved in interstate or foreign commerce through a pattern of racketeering activity” – language that is typically used to describe a RICO charge. This hints at the possibility of a deeper prosecution for JP Morgan. Already, 12 people have been charged in the precious metals market-rigging conspiracy. “We’re going to follow the facts wherever they lead, whether it’s across desks here or at any other bank or upwards into the financial institution,” Benczkowski said.

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Blunder? It got everyone talking about impeachment again. Maybe that was the whole idea.

New York Times’ Botched Kavanaugh Story Latest In Series Of Blunders (CNN)

The New York Times was reeling on Monday after its Opinion section fumbled a high-profile story about an allegation of sexual misconduct against Supreme Court Justice Brett Kavanaugh, drawing widespread criticism and condemnation of the newspaper. It was the latest in a series of high-profile blunders that has caused embarrassment to James Bennet since he was appointed in 2016 as the editor overseeing The Times’ Opinion section. Bennet’s tenure has been marked with several mishaps that have generated controversy, drawn criticism, and spurred at least one lawsuit.

[..] The Times’ Sunday Review, which falls under Opinion, published an essay based on a forthcoming book written by two Times reporters, detailing a previously unreported allegation of sexual misconduct against Kavanaugh, which he denied. The allegation in the book hinged on the recollection of a Yale classmate who The Times reported contacted the FBI and lawmakers during Kavanaugh’s confirmation hearing. The Yale classmate, who is now a prominent lawyer, has declined to comment publicly, according to The Times But the book, “The Education of Brett Kavanaugh,” included a key detail that the essay published by the Times was lacking: The woman at the center of it, who’d been a student at the time of the incident, declined to be interviewed.

Moreover, her friends said she did not recall the incident. In addition to that omission of vital information, The Times’ Opinion desk also came under fire over a tweet it had published promoting the story. The tweet said that “having a penis thrust in your face at a drunken dorm party may seem like harmless fun.” By Sunday night, The Times had not only apologized for the “offensive” tweet, but also appended to the essay an editor’s note addressing the glaring omission in its original story. “The book reports that the female student declined to be interviewed and friends say that she does not recall the incident,” the editor’s note read, in part. “That information has been added to the article.”

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Did they find the trick?

New York Prosecutors Subpoena Eight Years Of Trump Tax Returns (G.)

Donald Trump faces a new battle over the release of his tax returns after New York prosecutors issued a subpoena for them. Trump is the first US president in nearly 40 years not to release his tax information, despite having promised to do so during his 2016 election campaign. He has resisted pressure from Democrats and watchdogs demanding greater transparency. But on Monday, the office of the Manhattan district attorney, Cyrus Vance, investigating hush money payments to the pornographic actor Stormy Daniels during the 2016 presidential election, subpoenaed eight years of Trump’s personal and corporate tax returns, according to media reports. Mazars USA, which prepares Trump’s tax returns, said in a statement that it would “fully comply with its legal obligations”.


Democrats welcomed the move. The Senator Amy Klobuchar of Minnesota, a candidate for president, tweeted in response: “One way or another, we will get Donald Trump’s tax returns.” Another 2020 candidate, Julián Castro, the former housing secretary under Barack Obama, wrote on Twitter: “The president is not above the law. The American people deserve to know if he deceived them in hopes of winning an election. He must comply with this subpoena.” A federal investigation into the hush money payments led to Michael Cohen, Trump’s former lawyer and fixer, pleading guilty to campaign finance violations which, along with tax fraud and making false statements to Congress, resulted in three-year prison sentence.

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“..rejected the women’s bid to void the non-prosecution agreement..” Does this mean Ghislaine Maxwell is fully off the hook?

Epstein Accusers Cannot Recoup Damages Over Lenient Plea Deal – US Judge (R.)

A group of women who said Jeffrey Epstein sexually abused them are not entitled to money damages from the United States even though federal prosecutors kept them in the dark about the financier’s lenient non-prosecution agreement more than a decade ago, a Florida judge ruled on Monday. U.S. District Judge Kenneth Marra in West Palm Beach also rejected the women’s bid to void the non-prosecution agreement, which had barred prosecutions of Epstein and some alleged accomplices, saying Epstein’s death last month made the issue moot. Marra also denied a request for attorneys’ fees. Brad Edwards, a lawyer for the accusers, said they may appeal.


Marra ruled seven months after finding that prosecutors had violated the federal Crime Victims’ Rights Act by not telling Epstein’s accusers they had agreed not to pursue serious charges against the financier, in exchange for Epstein’s 2008 guilty plea to Florida state prostitution charges. Epstein was sentenced to 13 months in jail, but allowed to leave regularly to go to his office. The non-prosecution agreement was negotiated by the office of then-U.S. Attorney Alexander Acosta, who resigned in July as U.S. labor secretary as Epstein’s agreement drew fresh scrutiny.

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Magnitsky is a fairy tale promoted by Bill Browder. He fooled a lot of people.

The Magnitskiy Myth Exploded (Murray)

The conscientious judges of the European Court of Human Rights published a judgement a fortnight ago which utterly exploded the version of events promulgated by Western governments and media in the case of the late Mr Magnitskiy. Yet I can find no truthful report of the judgement in the mainstream media at all. The myth is that Magnitskiy was an honest rights campaigner and accountant who discovered corruption by Russian officials and threatened to expose it, and was consequently imprisoned on false charges and then tortured and killed. A campaign over his death was led by his former business partner, hedge fund manager Bill Browder, who wanted massive compensation for Russian assets allegedly swindled from their venture.


The campaign led to the passing of the Magnitskiy Act in the United States, providing powers for sanctioning individuals responsible for human rights abuses, and also led to matching sanctions being developed by the EU. However the European Court of Human Rights has found, in judging a case brought against Russia by the Magnitskiy family, that the very essence of this story is untrue. They find that there was credible evidence that Magnitskiy was indeed engaged in tax fraud, in conspiracy with Browder, and he was rightfully charged. The ECHR also found there was credible evidence that Magnitskiy was indeed a flight risk so he was rightfully detained. And most crucially of all, they find that there was credible evidence of tax fraud by Magnitskiy and action by the authorities “years” before he started to make counter-accusations of corruption against officials investigating his case.

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“..Margrethe Vestager pointed to a 0.005% tax rate paid by Apple’s main Irish unit in 2014..”

Apple Takes Fight Against €13 Billion EU Tax Order To Court (R.)

Apple will launch a legal challenge on Tuesday to a European Commission order to pay 13 billion euros ($14.4 billion) in Irish back taxes in a landmark case in the EU’s crackdown on tax avoidance by multinational companies. The iPhone maker is expected to send a six-man delegation headed by Chief Financial Officer Luca Maestri to the two-day court hearing at the Luxembourg-based General Court, the EU’s second highest court. In August 2016, the Commission said tax rulings by Ireland in 1991 and in 2007 had artificially reduced Apple’s tax burden for over two decades, effectively making it illegal state aid.


European Competition Commissioner Margrethe Vestager pointed to a 0.005% tax rate paid by Apple’s main Irish unit in 2014 as an example of the unusually low payments by the company. Apple is expected to argue that it did nothing wrong as it had followed Irish and U.S. tax laws. It made similar arguments in a blog following an EU tax ruling a couple of years ago. It will tell the court that the bulk of its taxes are owed to the United States because the majority of the value in its products including design, engineering and development, is created there. Ireland, which has accused the Commission of exceeding its powers and interfering with the EU member’s national sovereignty over tax affairs, is also challenging the EU ruling.

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“..this makes necessary a high volume of oil swapping around the world…”

A View from the Brink (Kunstler)

President Trump is trumpeting America’s “energy independence,” meaning whatever happens over there won’t affect us. Well, none of that is true. We still import millions of barrels of oil a day, though much less from Saudi Arabia than before 2008. The shale oil “miracle” is hitting the skids these days. Shale oil production has gone flat, the rig-count is down, companies are going bankrupt, and financing for the debt-dependent operations is dwindling since the producers have demonstrated that they can’t make a profit at it. They’re trapped in the quandary of diminishing returns, frontloading production, while failing to overcome steep decline curves in wells that only produce for a couple of years.


It’s also the case that shale oil is ultra-light crude, containing little heavier distillates such as diesel and aviation fuel (basically kerosene). Alas, American refineries were all built before shale oil came along. They were designed to crack heavier oil and can’t handle the lighter shale. The “majors” don’t want to invest their remaining capital in new refineries, and the many smaller companies don’t have the ability. So, this makes necessary a high volume of oil swapping around the world. Without diesel and aviation fuel, US trucking and commercial aviation has a big problem, meaning the US economy has a big problem.

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“They want the jury strictly to consider whether these actions were lawful or unlawful, not whether they were right or wrong.”

Edward Snowden Implores Macron To Grant French Asylum (ZH)

US whistleblower Edward Snowden has called on French President and former Rothschild banker Emmanuel Macron to grant him political asylum from the United States. Speaking with France’s Inter radio on Monday as part of a press junket to promote his new memoir, the former NSA contractor said “Protecting whistleblowers is not a hostile act,” adding “Welcoming someone like me is not an attack on the United States.” “I would like to return to the United States. That is the ultimate goal. But if I’m gonna spend the rest of my life in prison, the one bottom line demand that we have to agree to is that at least I get a fair trial. And that is the one thing the government has refused to guarantee because they won’t provide access to what’s called a public interest defense,” Snowden told CBS This Morning.


“Again, I’m not asking for a parade. I’m not asking for a pardon. I’m not asking for a pass. What I’m asking for is a fair trial. And this is the bottom line that any American should require. We don’t want people thrown in prison without the jury being able to decide that what they did was right or wrong. The government wants to have a different kind of trial. They want to use special procedures they want to be able to close the courtroom, they want the public not to be able to go, know what’s going on. And, essentially, the most important fact to the government and this is the thing we have a point of contention on, is that they do not want the jury to be able to consider the motivations. Why I did what I did. Was it better for the United States? Did it benefit us or did it cause harm? They don’t want the jury to consider that at all. They want the jury strictly to consider whether these actions were lawful or unlawful, not whether they were right or wrong. And I’m sorry, but that defeats the purpose of a jury trial,” Snowden told CBS.

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Never. Ending.

Aid Workers Warn Of Catastrophe In Greek Refugee Camps (G.)

Children being bitten by scorpions, rats and snakes; hundreds being forced to use a single shower; the stench of human excrement never far away; and food shortages becoming the norm. One by one, Sophie McCann lists the degradations of life for refugees detained on Lesbos, the Greek island on the frontline of a new surge of asylum seekers desperate to reach Europe. McCann, a British advocacy manager with Médecins Sans Frontières, like other aid workers, is now raising the alarm: at least 24,000 men, women and children trapped in vastly overcrowded Aegean island camps are being subjected to conditions so harrowing they bear all the hallmarks of humanitarian catastrophe. Four years after the greatest migration crisis in modern times, there are fears history is repeating itself.


“The level of human suffering is just indescribable,” says McCann, adding that incidents of self-harm, even among toddlers, have risen sharply. “I struggle to find the right words because none can convey the sheer misery and inhumanity of a situation that in Europe is frankly unbelievable.” The drama unfolding on Europe’s south-eastern periphery follows the abrupt rise in numbers making the dangerous sea crossing from Turkey. With a brazenness unseen since the EU struck a controversial accord with Ankara to stem flows in 2016, smugglers are again landing boatloads of would-be asylum seekers on the beaches of Lesbos, Samos, Kos, Leros and Chios. In July and August more than 13,000 people landed on Greek shores, more than half of all sea arrivals to the country in 2019.

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Who else did you think was doinng it?

Amazon Deforestation Is Driven By Criminal Networks (G.)

Deforestation in the Brazilian Amazon is a lucrative business largely driven by criminal networks that threaten and attack government officials, forest defenders and indigenous people who try to stop them, according to a new report by Human Rights Watch. Rainforest Mafias concludes that Brazil’s failure to police these gangs threatens its abilities to meet its commitments under the Paris climate deal – such as eliminating illegal deforestation by 2030. It was published a week before the UN Climate Action Summit. Ricardo Salles, Brazil’s environment minister in the government of far-right president Jair Bolsonaro, has argued that poverty drives degradation, and that development of the Amazon will help stop deforestation.


But the report’s author, Cesar Muñoz Acebes, argues that Amazon needs to be better policed. “As long as you have this level of violence, lawlessness and impunity for the crimes committed by these criminal groups it will be impossible for Brazil to rein in deforestation,” he said. “These criminal networks will attack anyone who stands in their way.” The report documents 28 killings in which it found evidence that “those responsible were engaged in illegal deforestation and saw their victims as obstacles”.

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Nothing is pristine anymore.

Attenborough Documentaries Mislead Us Into Thinking Wildlife Doing Fine (Ind.)

Nature documentaries could be “actively misleading audiences” by showing nature as something pristine that is not being damaged by humans, researchers warn. Scientists looked at the scripts from the four most recent David Attenborough-narrated BBC and Netflix nature series and said they did not show the extent to which nature is being threatened by human activity. “Nature is still mostly shown as pristine, and the presence or impacts of people on the natural world very seldom appear,” researchers wrote in the paper published in People and Nature. Scientists from the universities of Oxford, Newcastle, Kent and Bangor found the Netflix series Our Planet dedicated 15 per cent of the script to environmental threats and conservation. This far exceeded the BBC series Planet Earth II and Dynasties.


However, they said it still failed to visually show how threatened the natural world is. “One could argue that by using camera angles to avoid showing any sign of people, nature filmmakers are being disingenuous, and even actively misleading audiences,” said lead researcher Professor Julia Jones from Bangor University. “The viewer may be led to believe that things cannot be that bad for biodiversity as what they are seeing on the screen shows nature, for the most part, doing fine. “The inextricable link between threats to the natural world and the high consumption of western lifestyles would be more difficult to ignore if the presence, or even dominance, of commercial agriculture, mining and transport infrastructure were more visible in the landscapes, reducing the space for the awe-inspiring wild spectacles shown.”

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In 1935, Congressman Thomas O’Malley introduced a bill mandating that in case of war the Army draft the wealthiest men in the country and put them near the greatest posts of danger by order of income.

 

 

 

 

 

Jul 312019
 


Gustav Klimt Field of poppies 1907

 

Judge Dismisses DNC Suit Against Trump Campaign, Russia, WikiLeaks (Pol.)
Trump Wants To Rein In Intelligence Agencies (R.)
Trump’s Tax Returns Required Under New California Election Law (LAT)
FAA Hopes Global Regulators Simultaneously Approve Boeing 737 MAX (R.)
China Probes Small Bank Shareholdings As Risk Worries Persist (R.)
China Gathers Forces On Hong Kong Border Amid Unrest (ZH)
German Prosecutors Charge Ex-VW Boss With Fraud (AFP)
Jeremy Corbyn’s Finest Hour? (Varoufakis)
Mess With Good Friday And We’ll Block UK Trade Deal, US Politicians Warn (G.)
Dominic Cummings: Tories Do Not Care About Poor People Or NHS (G.)
Toxic History Of Monsanto In The UK (OffG)
Xenophobia About Russians Is Never Condemned In Western Media (Ryan)

 

 

Judge said DNC “claims entirely divorced from the facts”.

Judge Dismisses DNC Suit Against Trump Campaign, Russia, WikiLeaks (Pol.)

A federal judge has dismissed a lawsuit the Democratic National Committee filed against the Trump campaign, the Russian government, WikiLeaks and various Trump campaign officials over alleged involvement in the hacking of Democratic Party email accounts during the 2016 presidential race. U.S. District Judge John Koeltl rejected the central theory of the racketeering suit: that the Trump campaign, campaign aides and Trump allies abetted the theft of the emails by encouraging WikiLeaks to publish the messages and by urging they be released when they would be of maximum political benefit to then-candidate Donald Trump. Koeltl said such actions were protected by the First Amendment when taken by people not involved in the actual hacking.

“Even if the documents had been provided directly to the Campaign [and] the Campaign defendants … they could have published the documents themselves without liability because they did not participate in the theft and the documents are of public concern,” the judge wrote in an 81-page opinion. “The DNC cannot hold these defendants liable for aiding and abetting publication when they would have been entitled to publish the stolen documents themselves without liability.” The judge said the DNC’s suit did not allege that anyone beyond the Russian Federation took part in the hacking of the Democratic Party computer systems or email accounts. And he concluded that WikiLeaks could not legitimately be sued as a recipient of that information because what it released was of genuine public interest.

“The DNC’s published internal communications allowed the American electorate to look behind the curtain of one of the two major political parties in the United States during a presidential election,” Koeltl wrote. “This type of information is plainly of the type entitled to the strongest protection that the First Amendment offers.” Koeltl, a Manhattan-based appointee of President Bill Clinton, also rejected the DNC’s contention that fundraising-related records amount to trade secrets that get special protection under the law. “The DNC’s interest in keeping ‘donor lists’ and ‘fundraising strategies’ secret is dwarfed by the newsworthiness of the documents as a whole,” the judge wrote. “If WikiLeaks could be held liable for publishing documents concerning the DNC’s political financial and voter-engagement strategies simply because the DNC labels them ‘secret’ and trade secrets, then so could any newspaper or other media outlet.”

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They turned on him.

Trump Wants To Rein In Intelligence Agencies (R.)

U.S. President Donald Trump on Tuesday defended his choice for the next U.S. spy chief as someone who could “rein in” intelligence agencies that “have run amok,” fueling concerns Trump seeks assessments that support his own views. Trump’s choice of Republican Representative John Ratcliffe of Texas as the next director of national intelligence, has been greeted with scant enthusiasm by his fellow Republicans and charges by former intelligence officials and Democrats that he is unqualified and will frame intelligence to suit the president.


Ratcliffe, a member of the House Intelligence Committee for six months, would replace Dan Coats, whose judgments on Iran, North Korea and Russia’s interference in the 2016 elections clashed with Trump’s views, earning the president’s disdain. Returning to the White House from an appearance in Virginia, Trump on Tuesday said Ratcliffe “is going to do an incredible job, if he gets approved” by the Senate. “I think we need somebody like that in there,” he continued. “We need somebody strong that can rein it in. Because, as I think you’ve all learned, the intelligence agencies have run amok. They have run amok.” Trump denied he had a “conflict” with Coats, saying he was “a friend of mine” and a “terrific person.” But, he added, “Dan made statements and they were a little confused.”

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Overreach.

Trump’s Tax Returns Required Under New California Election Law (LAT)

President Trump will be ineligible for California’s primary ballot next year unless he discloses his tax returns under a state law that immediately took effect Tuesday, an unprecedented mandate that is almost certain to spark a high-profile court fight and might encourage other states to adopt their own unconventional rules for presidential candidates. The law, signed by Gov. Gavin Newsom on his final day to take action and passed on a strict party-line vote in the Legislature, requires all presidential candidates to submit five years of income tax filings. They must do so by late November in order to secure a spot on California’s presidential primary ballot in March. State elections officials will post the financial documents online, although certain private information must first be redacted.

“As one of the largest economies in the world and home to one in nine Americans eligible to vote, California has a special responsibility to require this information of presidential and gubernatorial candidates,” Newsom said in a statement that accompanied his signature on the bill approved by the Legislature earlier this month. “These are extraordinary times and states have a legal and moral duty to do everything in their power to ensure leaders seeking the highest offices meet minimal standards, and to restore public confidence. The disclosure required by this bill will shed light on conflicts of interest, self-dealing, or influence from domestic and foreign business interest.”

Trump, who is not singled out by the law but is clearly its inspiration, is likely to fight back. “The Constitution is clear on the qualifications for someone to serve as president and states cannot add additional requirements on their own,” said Tim Murtaugh, communications director for the president’s reelection campaign. “The bill also violates the 1st Amendment right of association, since California can’t tell political parties which candidates their members can or cannot vote for in a primary election.”

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That potato is darn hot.

FAA Hopes Global Regulators Simultaneously Approve Boeing 737 MAX (R.)

The U.S. Federal Aviation Administration hopes civil aviation authorities around the world will decide at about the same time to allow the Boeing 737 MAX to resume flying, the agency told Congress on Tuesday in a letter seen by Reuters. The FAA and other regulators grounded the plane in March after two fatal crashes in five months killed 346 people. Acting FAA Administrator Dan Elwell said in letters to Senators Susan Collins and Jack Reed that the agency “hopes to achieve near simultaneous approval from the major civil aviation authorities around the world” but added that every regulator will make its own determination. “We are working with our colleagues from the European Union, Canada and Brazil to address their concerns,” he wrote.


Collins will chair a Senate Appropriations subcommittee hearing Wednesday that will feature four senior FAA officials, including Ali Bahrami, who oversees aviation safety. Boeing Co Chief Executive Dennis Muilenburg told analysts last week he was confident the MAX would be back in service as early as October after a certification flight in “the September time frame.” Ryan Air Chief Executive Michael O’Leary said Monday that he had been told that flight would be delayed until October. Boeing on Tuesday reiterated Muilenburg’s recent comments. Elwell said in his letter the FAA “will lift the 737 MAX grounding order only when it is safe to do so.”

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Shareholders buy each other’s stock with borrowed money and then use it as collateral to borrow more money..

China Probes Small Bank Shareholdings As Risk Worries Persist (R.)

China is sharpening its scrutiny of small banks’ shareholders amid fears that loans from the lenders to big investors could prove a weak point in the country’s financial system, jolted by the state’s weekend rescue of one lender and recent takeover of another. While nominally small, China’s numerous small city commercial banks risk having outsized significance because of their close ties to the rest of the banking system as well as with bigger shareholders, many of whom are giant companies. Earlier this month, the China Banking and Insurance Regulatory Commission (CBIRC) asked banks and some other financial firms for details of any investor building up stakes of 5% or more without required regulatory approvals.

The regulator also asked the firms if they had disclosed all business transactions with their main owners, according to a regulatory notice seen by Reuters. Regulators have also conducted spot checks at some smaller banks in the last two months to probe possible misuse of capital linked to shareholders and transferring of ownership interests, said four people with direct knowledge of the matter. The scrutiny comes amid concerns that some debt-heavy Chinese private enterprises have amassed substantial stakes in smaller banks without regulatory approval and are using the lenders for their personal borrowings.

“There may be many shareholders using small Chinese banks as ATM machines, but I don’t think we have enough understanding of bank ownership to know,” said Andrew Collier, managing director of Hong Kong-based Orient Capital Research. “Certainly if there are under-capitalized corporates as majority shareholders of the less well-funded smaller banks you could have a bank run,” he said, adding the regulators have so far done a good job of rescuing ailing financial firms.

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Blame outsiders: “..this is the creation of the U.S.”

China Gathers Forces On Hong Kong Border Amid Unrest (ZH)

Massive anti-Beijing protests which have gripped Hong Kong over the past month, and have become increasingly violent as both an overwhelmed local police force and counter-protesters have hit back with force, are threatening to escalate on a larger geopolitical scale after the White House weighed in this week. With China fast losing patience, there are new reports of a significant build-up of Chinese security forces on Hong Kong’s border, as Bloomberg reports: “The White House is monitoring what a senior administration official called a congregation of Chinese forces on Hong Kong’s border.”

From nearly the start of the protests which began over a proposed extradition bill (which would see Hong Kong citizens under legal accusation potentially extradited to the mainland) interpreted as major Chinese overreach inside historically semi-autonomous Hong Kong, officials in Beijing have suggested an “external plot” afoot, more recently alleging the hidden hand of the United States. The latest charge made Tuesday by mainland government officials is that the still escalating Hong Kong unrest is the “creation of the US” — something which the Trump admin official speaking under anonymity to Bloomberg firmly denied.

On Monday Secretary of State Mike Pompeo said during a press interview that “protest is appropriate” and that “we hope the Chinese will do the right thing” regarding respecting Hong Kong’s historic “one country, two systems” status. This was enough to elicit a quick response alleging US meddling out of Beijing on Tuesday. It’s clear that Mr. Pompeo has put himself in the wrong position and still regards himself as the head of the CIA,” Chinese Foreign Ministry spokeswoman Hua Chunying said at a news briefing. “He might think that violent activities in Hong Kong are reasonable because after all, this is the creation of the U.S.”

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Here’s thinking fraud is a serious offence in Germany.

German Prosecutors Charge Ex-VW Boss With Fraud (AFP)

German prosecutors said Monday they had charged former Volkswagen chief executive Martin Winterkorn and four other managers over “dieselgate”, bringing the cheating scandal back into the headlines just as VW battles to move on from the affair. Prosecutors in Brunswick, near VW’s Wolfsburg HQ in northern Germany, said they had charged Winterkorn and four other managers. Among the accusations against the former chief executive were “a particularly serious case of fraud”, “infraction of the law against unfair competition” and “breach of trust”. Winterkorn was CEO during a period when VW fitted 11 million diesel-powered vehicles worldwide with so-called “defeat devices” – software that made them appear less polluting in the lab than in real driving conditions.


Such allegations have hit other German manufacturers since, with Mercedes-Benz maker Daimler confirming Sunday it was facing a regulatory probe, reportedly over 60,000 vehicles. At the helm from 2007 to 2015, Winterkorn, a trained engineer, had a reputation as a detail-obsessed executive who was familiar with “every screw” of each VW model. The group admitted to the fraud in September 2015, beginning a drawn-out process of fact-finding and legal action that has so far seen it pay out $33 billion in fines, compensation and buyback schemes, much of it in the United States.

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Wishful thinking?!

Jeremy Corbyn’s Finest Hour? (Varoufakis)

Since the 2016 referendum, a civil war-like atmosphere has made it increasingly impossible for Leavers and Remainers to hold a civilized conversation. Corbyn valiantly tried to keep Labour’s Leavers and Remainers together by seeking an honorable compromise: The UK would formally leave the EU, to respect the referendum’s outcome, while remaining in as many of the bloc’s structures as possible – including a customs union. Instead of applauding Corbyn for this tricky balancing act, his opponents within the Labour Party, together with a liberal establishment unprincipled enough to deliver all Leavers to Nigel Farage and Johnson, attacked him with extraordinary viciousness. But that was then and this is now.

With Johnson as prime minister, and his strategy crystal clear, Corbyn’s task is to expose the truth about Johnson’s no-deal Brexit – namely, that it means a Trump-deal Brexit – and put forward Labour’s plan to end the interminable Brexit ordeal immediately. Corbyn must first show voters that a Johnson government will turn the UK into a vassal state of a Trumpian US and of the multinationals eager to usurp the country’s cherished institutions (especially the National Health Service). Johnson will bind the UK to a global alliance of populist/nationalist regimes and destroy Britain’s chances to lead Europe and the world with a Green New Deal that overhauls a failed UK business model based on low taxes, low wages, low investment, zero-hour contracts, and unregulated finance.

Corbyn’s second task is to offer an alternative for ending the humiliation of the ongoing negotiations. That means committing to revoke Article 50 to allow a Labour government time to implement a green-investment, anti-austerity policy agenda in tune with the party’s progressive internationalism, while simultaneously organizing a Citizens’ Deliberative Assembly to formulate the question(s) to be put to voters in a second Brexit referendum. A general election fought over these two unequivocal alternatives, Johnson’s and Corbyn’s, would empower the UK’s people, at last, to determine their country’s future.

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Boris wants to ditch the backstop, and that automatically messes with Good Friday.

Mess With Good Friday And We’ll Block UK Trade Deal, US Politicians Warn (G.)

Any future US-UK trade deal would almost certainly be blocked by the US Congress if Brexit affects the Irish border and jeopardises peace in Northern Ireland, congressional leaders and diplomats have warned. Boris Johnson has presented a trade deal with the US as a way of offsetting the economic costs of leaving the EU, and Donald Trump promised the two countries could strike “a very substantial trade agreement” that would increase trade “four or five times”. Trump, however, would not be able to push an agreement through a hostile Congress, where there would be strong bipartisan opposition to any UK trade deal in the event of a threat to the 1998 Good Friday agreement, and to the open border between the two Irelands.


Johnson’s rise to power, and his demand for the EU to drop the backstop, which is intended to safeguard the open border after Brexit, has galvanised determination in Congress to make a stand in defence of the landmark accord, to which the US is guarantor. “The American dimension to the Good Friday agreement is indispensable,” said Richard Neal, who is co-chair of the 54-strong Friends of Ireland caucus in Congress, and also chairs the powerful House ways and means committee, with the power to hold up a trade deal indefinitely. “We oversee all trade agreements as part of our tax jurisdiction,” Neal, a Democratic congressman from Massachusetts, said in a phone interview. He pointed out that such a complex trade deal could take four or five years, even without the Northern Ireland issue.

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He said it as an observer, it’s not what he wants.

Dominic Cummings: Tories Do Not Care About Poor People Or NHS (G.)

Voters are right to think Tory MPs largely do not care about poorer people or the NHS, according to Dominic Cummings in comments that have emerged from two years ago. Boris Johnson’s new senior adviser and a key architect of Brexit gave his damning view on Conservative MPs at a conference in 2017, where he said: “People think, and by the way I think most people are right: ‘The Tory party is run by people who basically don’t care about people like me.’ “That is what most people in the country have thought about the Tory party for decades. I know a lot of Tory MPs and I am sad to say the public is basically correct. Tory MPs largely do not care about these poorer people. They don’t care about the NHS. And the public has kind of cottoned on to that.”


Cummings is now integral to Johnson’s administration, which has a majority of just two and is relying on Conservative and DUP MPs to back his Brexit strategy of taking the UK out of the EU by 31 October – unless he suspends parliament to achieve a no-deal exit. Ian Lavery, the chair of the Labour party, said it was a “staggering admission from the prime minister’s right-hand man”. “As Dominic Cummings says himself, the Conservatives don’t care about anything apart from looking after their rich friends – whether that means selling off our NHS to American corporations in pursuit of a Trump trade deal, or giving tax cuts to big businesses while cutting public services. We need a general election and a Labour government to protect our health service from the likes of Boris Johnson,” Lavery said.

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Shattering.

Toxic History Of Monsanto In The UK (OffG)

A special report in the Observer newspaper in the UK on 23 June 2019 asked the question: Why is life expectancy faltering? The piece noted that for the first time in 100 years, Britons are dying earlier. The UK now has the worst health trends in Western Europe. Aside from the figures for the elderly and the deprived, there has also been a worrying change in infant mortality rates. Since 2014, the rate has increased every year: the figure for 2017 is significantly higher than the one in 2014. To explain this increase in infant mortality, certain experts blame it on ‘austerity’, fewer midwives, an overstrained ambulance service, general deterioration of hospitals, greater poverty among pregnant women and cuts that mean there are fewer health visitors for patients in need.

While all these explanations may be valid, according to environmental campaigner Dr Rosemary Mason, there is something the mainstream narrative is avoiding. She says: “We are being poisoned by weedkiller and other pesticides in our food and weedkiller sprayed indiscriminately on our communities. The media remain silent.” Mason begins by offering a brief history of Monsanto in the UK. In 1949, that company set up a chemical factory in Newport, Wales, where it manufactured PCBs until 1977 and a number of other dangerous chemicals. Monsanto was eventually found to be dumping toxic waste in the River Severn, public waterways and sewerage. It then paid a contractor which illegally dumped thousands of tons of cancer-causing chemicals, including PCBs, dioxins and Agent Orange derivatives, at two quarries in Wales – Brofiscin (80,000 tonnes) and Maendy (42,000 tonnes) – between 1965 and 1972.

Monsanto stopped making PCBs in Anniston US in 1971 because of various scandals. However, the British government agreed to ramp up production at the Monsanto plant in Newport. In 2003, when toxic effluent from the quarry started leaking into people’s streams in Grosfaen, just outside Cardiff, the Environment Agency – a government agency concerned with flooding and pollution – was hired to clean up the site in 2005. Mason notes that the agency repeatedly failed to hold Monsanto accountable for its role in the pollution (a role that Monsanto denied from the outset) and consistently downplayed the dangers of the chemicals themselves. In a report prepared for the agency and the local authority in 2005 but never made public, the sites contain at least 67 toxic chemicals. Seven PCBs have been identified, along with vinyl chlorides and naphthalene. The unlined quarry is still leaking, the report says:

“Pollution of water has been occurring since the 1970s, the waste and groundwater has been shown to contain significant quantities of poisonous, noxious and polluting material, pollution of… waters will continue to occur.” Apart from these events in Wales, Mason outlines the overall toxic nature of Monsanto in the UK. For instance, she discusses the shockingly high levels of weedkiller in packaged cereals. Samples of four oat-based breakfast cereals marketed for children in the UK were recently sent to the Health Research Institute, Fairfield, Iowa, an accredited laboratory for glyphosate testing. Dr Fagan, the director of the centre, says of the results: “These results are consistently concerning. The levels consumed in a single daily helping of any one of these cereals, even the one with the lowest level of contamination, is sufficient to put the person’s glyphosate levels above the levels that cause fatty liver disease in rats (and likely in people).”

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“A list of 10 “ground rules” for befuddled Westerners seeking to unravel the enigma that is Russia..”

Xenophobia About Russians Is Never Condemned In Western Media (Ryan)

Pretending to ‘understand’ Russia has become quite the lucrative business for Western media professionals in recent years – and “leading” Russia expert extraordinaire Keir Giles is the latest to believe he has cracked the code. Generous Giles has published a list of 10 “ground rules” for befuddled Westerners seeking to unravel the enigma that is Russia – but before we delve into the finer details, let’s add some important context. This Russia whisperer is a “senior consulting fellow” at Chatham House – a British think tank receiving funding from the Foreign Commonwealth Office (FCO), the UK Ministry of Defence, the British Army and the US embassy, as well as an impressive array of arms manufacturers.


Very often, those posing as ‘experts’ on Russia pepper their analysis with outright xenophobia. Yet, this problematic and bigoted language is rarely noticed by their admiring peers because, as I have written before, “the Russians” are an exception to current cultural rules around political correctness. Xenophobia, when it is about Russians, is never condemned in Western media and ‘think tank’ circles. Rather, it has become an essential component of any celebrated ‘analysis’ of the country and its actions. Recall a recent New York Times article which claimed corruption is in the Russian “DNA” and sharing is “not the Russian way.” Before that, there was James Clapper, former US Director of National Intelligence, telling NBC that Russians are “genetically driven” to lie and cheat. Now, enter Giles.

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May 082019
 


 

 

The Psychology of Russiagate (Gabor Maté)
Trump Tax Returns Show Over $1 Billion In Business Losses In A Decade (G.)
White House Orders Don McGahn Not To Comply With Congressional Subpoena (G.)
‘Bond King’ Gundlach: US National Debt ‘Totally Out Of Control’ (CNBC)
The State of the American Debt Slaves, Q1 2019 (WS)
Stocks Could Drop 10-20% If China And US ‘Dig In’ On Trade War – Siegel (CNBC)
China Says April Trade Surplus $13.84 Billion, Far Below Expectations (CNBC)
Germany, Wealthy Regions Are Biggest Winners Of EU Single Market (R.)
Hackers Steal $41 Million Worth Of Bitcoin From Binance Crypto Exchange (R.)
A War Is Brewing Over Lithium Mining At The Edge Of Death Valley (LA Times)
People Who Publicly Fret About Assange Rape Allegations Are Lying (CJ)
Humanity Is About to Kill 1 Million Species in a Murder-Suicide (NYMag)

 

 

This is fantastic. Please watch. Trump as a traumatized man. Elected by a society deeply in denial about its own trauma.

The Psychology of Russiagate (Gabor Maté)

What’s interesting is that in the aftermath of the Mueller thunderbolt of no proof of collusion, there were articles about how people are disappointed about this finding. Now, disappointment means that you’re expecting something and you wanted something to happen, and it didn’t happen. So that means that some people wanted Mueller to find evidence of collusion, which means that emotionally they were invested in it. It wasn’t just that they wanted to know the truth. They actually wanted the truth to look a certain way. And wherever we want the truth to look a certain way, there’s some reason that has to do with their own emotional needs and not just with the concern for reality.

And in politics in general, we think that people make decisions on intellectual grounds based on facts and beliefs. Very often, actually, people’s dynamics are driven by emotional forces that they’re not even aware of in themselves. And I, really, as I observed this whole Russiagate phenomenon from the beginning, it really seemed to me that there was a lot of emotionality in it that had little to do with the actual facts of the case. There is no question that for a lot of people in this country, the election of Trump was a traumatic event. Now, when a trauma reaction happens, which is to say you’re hurt and you’re pained and you’re confused and you’re scared and you’re bewildered, there’s basically two things you can do about it.

One is you can own that I’m pained and I’m hurt and I’m bewildered and I’m really scared. And then try and look at what happened to bring me to that situation. Or you can instead of dealing with those emotions come up with some kind of explanation that makes me feel better about them. So that I’ve got this pain. I’ve got this bewilderment. I’ve got this fear. So what I’m looking at, what does it say about American society that a man like this could even run for office, let alone be elected? What does it say about American society that so many people are actually enrolled in believing that this man could be any kind of a savior? What does that say about the divisions and the conflicts and the contradictions and the genuine problems in this culture? And how do we address those issues?

You can look at that. Or you can say there must be a devil somewhere behind all this, and that devil is a foreign power, and his name is Putin, and his country is Russia. Now you’ve got a simple explanation that doesn’t invite you or necessitate that you explore your own pain and your own fear and your own trauma.

If the video does not show in your email, please go to the Automatic Earth site

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Is it just me, or is this a really strange way to present old news as new? They really can’t find anything on the man? Didn’t he even write a book about this?

Trump Tax Returns Show Over $1 Billion In Business Losses In A Decade (G.)

Donald Trump’s businesses lost a total of more than $1bn from 1985 to 1994, enabling him to avoid paying income taxes for eight of the 10 years, the New York Times reported on Tuesday. The newspaper, which said it obtained printouts from Trump’s official Internal Revenue Service tax transcripts, found that Trump’s core businesses, including casinos, hotels and apartment buildings, lost $1.17bn over a decade. Trump posted losses in excess of $250m in both 1990 and 1991, according to the records, which appeared to be more than double any other individual US taxpayer in an annual IRS sampling of high-income earners.


The New York Times report comes amid a fresh battle between Democrats in Congress and the Trump administration over the release of the president’s tax returns. On Monday, the US Treasury secretary, Steven Mnuchin, refused a request by the congressman Richard Neal, the Democratic chairman of the House ways and means committee, for Trump’s tax returns. Democrats want Trump’s tax data as part of their investigations of possible conflicts of interest posed by his continued ownership of extensive business interests, even as he serves as president. Responding to the New York Times’ revelations, Charles Harder, a lawyer for the president, said the tax information was “highly inaccurate”.

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Yeah, well, if they try to keep Russigate going at this point in time, it’s not going to be easy.

White House Orders Don McGahn Not To Comply With Congressional Subpoena (G.)

The White House has informed Congress that it has ordered the former counsel Don McGahn not to hand over documents subpoenaed by a congressional committee investigating the findings of the special counsel Robert Mueller. In a letter to the House judiciary committee chairman, Jerrold Nadler, the White House lawyer Pat Cipollone cited “significant Executive Branch confidentiality interests and executive privilege”. McGahn’s refusal is sure to set the Trump administration on course for another collision with the Democratic-led House over lawmakers’ pursuit of documents related to the Russia investigation.


In a subpoena, Congress had requested documents from McGahn pertaining to 36 matters, including discrete episodes in the Russia affair ranging from the resignation of the former national security adviser Michael Flynn to the 9 June 2016 Trump Tower meeting. Cipollone said McGahn “does not have the legal right to disclose these documents to third persons”. In a follow-up letter to Congress, a lawyer for McGahn said he intended to follow the White House direction. “Where co-equal branches of government are making contradictory demands on Mr McGahn concerning the same set of documents,” the letter reads, “the appropriate response for Mr McGahn is to maintain the status quo unless and until the committee and the executive branch can reach an accommodation.”

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“Using leverage ratios alone, “45%, not just of the BBB but the entire corporate bond market would be junk right now..”

‘Bond King’ Gundlach: US National Debt ‘Totally Out Of Control’ (CNBC)

U.S. debt has climbed to an alarming level, according to DoubleLine CEO Jeffrey Gundlach. “People are starting to realize that the deficit and debt are totally out of control,” Gundlach said on CNBC’s “Halftime Report” Tuesday. Gundlach said the “main reason” the yield curve between 3-year and 5-year Treasury notes is steepening is the ballooning deficit. Last year, U.S. national debt increased by more than 6% of GDP, he said. An even bigger deficit could mean trouble in a recession, said Gundlach, whose DoubleLine has $130 billion in assets under management. Gundlach — sometimes known as the “bond king” — also flagged trouble in the corporate bond market, which got “dragged down” in the “economic mess that we’re in.”


“The corporate bond market is so much worse today than it was in 2006,” he said. Among Gundlach’s concerns: a corporate bond market that has tripled in size, and a BBB-rated bond market that is now bigger than the junk-bond market. Using leverage ratios alone, “45%, not just of the BBB but the entire corporate bond market would be junk right now,” he said, citing figures from Morgan Stanley. A recession or downturn could “spark” a wave of downgrades from investment grade bonds into junk bonds, he said. “The economy is in such bad shape to withstand a downturn again,” Gundlach said. “The national debt is exploding while we’re having some of the best GDP year over year that we’ve had in recent years.”

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Jubilee.

The State of the American Debt Slaves, Q1 2019 (WS)

Consumer debt – or consumer “credit” more euphemistically – includes auto loans, student loans, credit-card debt, and personal loans, but it excludes housing related debt, such as mortgages and HELOCs. Growing consumer debt helps prop up the US economy because it means that consumers – they’re called “consumers” not “people” for a reason – spend money they don’t have. There is always a reckoning in the future, but to heck with the future, and so here we go. Credit card debt and other revolving credit, such as personal lines of credit, in Q1 rose 3.4% compared to Q1 last year, to $1.0 trillion (not seasonally adjusted), according to the Federal Reserve Tuesday afternoon. This was a record for a first quarter, when consumers cut back while they try to dig themselves out from under their shopping season debts. But it wasn’t good enough. Credit card balances in Q1 were flat with Q4 2008, despite a decade of inflation, population growth, and economic growth. Our debt slaves are lackadaisical:

The thing is, over the same period, nominal GDP rose 5.1%. And in terms of GDP, credit card debts actually fell, which explains the soft-ish retail data in the first quarter. In a very un-American way, consumers were again lackadaisical in charging up their credit cards to the max. Credit cards are a key element in the banking industry’s profits. At commercial banks, the average interest rate on credit-card plans is 15.1% and the average assessed interest rate is 16.9%, on $1 trillion in outstanding credit balances. This amounts to around $150 billion to $169 billion a year in interest income! These banks rely on consumers to spend money they don’t have. So why don’t they consume with sufficient energy? That’s a baffling question for economists.


Total auto loans and leases outstanding for new and used vehicles in Q1 rose by $44.5 billion from a year ago, or by 4.0%, to a record of $1.16 trillion, despite new-vehicle sales that declined in Q1 by 3.2%, though there was some strength in used vehicles sales. The increase in borrowing was due to higher transaction prices of new and used vehicles, the rising average loan-to-value ratio, and the lengthening average duration of loans:

Student loans rose by 4.9% year-over-year in Q1, or by $74 billion, to a new record of $1.6 trillion (not seasonally adjusted). It has doubled since the beginning of 2010. Confusingly, enrollment in higher-education, based on the latest data available from the National Center for Education Statistics fell by 7% between 2010 and 2016. In other words, fewer students are enrolled, but all combined they borrow more as tuition continues to rise, and as the entire industry feeds on those government-guaranteed student loans. This ranges from device makers, such as Apple, text-book publishers, concert-ticket sellers, and commercial real estate investors specializing in student housing. Every dime a student borrows is spent, and it props up Corporate America, the university financial complex (UFI, my term), and the US economy overall – with heck to pay later:

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The Fed is the only thing dominating markets. Not China.

Stocks Could Drop 10-20% If China And US ‘Dig In’ On Trade War – Siegel (CNBC)

Stocks could drop significantly if the United States and China dig in during trade talks, Wharton finance professor Jeremy Siegel told CNBC on Tuesday. Tensions between the U.S. and China are high as U.S. Trade Representative Robert Lighthizer said Monday that new tariffs on 25% of goods will go through on Friday. Siegel said this causes major risk to the downside. “If both sides dig in this market could go down 10% to 20%,” Siegel said on “Squawk Alley. ” “It’s a question of what happens on Friday. If it does happen on Friday, what is the retaliation of the Chinese? And that’s totally dominating the market for the next two or three weeks.”


Siegel said the market built in about a 90% chance that trade negotiations with China would be resolved. Since Trump’s tweets on Sunday threatening to raise tariffs the market, the market now projects no more than a 70% chance of a resolution, he said. This change is what is shocking the market downward, he said. The Dow Jones Industrial Average, S&P 500 and the Nasdaq Composite all closed down more than 1.6% on Tuesday. Investors are waiting to see how the trade talks with China go this week but Trump will be watching the market, Siegel said. “The strongest thing that Donald Trump has going for him in next year’s election is the economy and the stock market. He cannot afford that to falter,” said Siegel.

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Why is Reuters still polling economists?

China Says April Trade Surplus $13.84 Billion, Far Below Expectations (CNBC)

China posted a big miss in its overall trade surplus for April, as exports unexpectedly fell and imports surprisingly rose. The numbers came on Wednesday as the trade impasse between the U.S. and China continues to drag on. Customs data on Wednesday showed that trade surplus for April came in at $13.84 billion. That was far lower than the $35 billion economists polled by Reuters had expected, and below the $32.65 billion posted in March. Dollar-denominated exports also missed expectations in April, falling 2.7% from a year ago, according to data from the China’s General Administration of Customs. Economists polled by Reuters expected an increase of 2.3% from a year earlier.


However, April imports unexpectedly rose by 4% from a year ago, compared to a decline of 3.6% that economists predicted. Imports in March fell 7.6%. China’s trade surplus with the U.S., meanwhile, rose to $21.01 billion in April from $20.5 billion in March, the data showed. U.S. and Chinese officials have met several times in a bid to hammer out a trade deal, but Washington said this week that tariffs on Chinese products will increase on Friday, fueling fears that negotiations could be derailed. The outlook for Chinese exports will remain challenging even if a trade deal is reached with the U.S. soon, said Julian Evans-Pritchard, senior China economist at Capital Economics.

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In other news: the sky is blue. What I like here is they state everyone is better off because of the single market. I don’t even want to see their ‘proof’ for that.

Germany, Wealthy Regions Are Biggest Winners Of EU Single Market (R.)

The European Union’s industrial heartlands, its urban regions and Germany are the biggest beneficiaries of the bloc’s single market, according to a study that highlights the economic and social inequalities plaguing the bloc. The single market seeks to guarantee free movement of goods, capital, services and labor across the 28-nation EU. A report by the Bertelsmann Foundation found that Germany, Europe’s largest economy, benefited most in absolute terms from the single market, earning an extra 86 billion euros ($96 billion) a year because of it. It found that each German was on average 1,046 euros richer as a result of single market membership, while on average EU citizens were only 840 euros richer. “Not everyone profits equally from the single market, but everyone does gain,” said Aart De Geus, president of the Germany-based foundation.


The inequalities highlighted in the report are shaping EU politics ahead of this month’s European Parliament elections, in which some have called for a continent-wide minimum wage, while Italy, wrestling with low growth, has demanded the right to break European fiscal rules to finance tax cuts. Wealthy, advanced economies near the EU’s economic core such as Austria and the Netherlands are also far richer as a result of being members, the report showed, while poorer southern and eastern European countries benefit far less. “For countries like the Netherlands or Austria, the internal market is gold, since they have competitive sectors but are reliant on exports because they have small domestic markets,” said Dominic Ponattu, one of the study’s authors.

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Call me crazy, but isn’t this happening a little too often?

Hackers Steal $41 Million Worth Of Bitcoin From Binance Crypto Exchange (R.)

Hackers stole bitcoin worth $41 million from Binance, one of the world’s largest cryptocurrency exchanges, the company said on Wednesday, the latest in a string of thefts from cryptocurrency exchanges around the world. The 7,000 bitcoin were withdrawn by hackers using a variety of techniques, “including phishing, viruses and other attacks”, according to a post on Binance’s website by chief executive officer Zhao Changpeng. The post said user funds would not be affected because the company would use its secure asset fund for users to cover the loss.


Bitcoin’s price dropped by as much as 4.2 percent in early Asian trading as news of the hack broke, although it later recovered some of its losses. Zhao said on Twitter other crypto exchanges, including Coinbase, had blocked deposits from addresses linked to the hack. Last year, $950 million of cryptocurrencies was stolen from cryptocurrency exchanges and infrastructure services such as wallets, up nearly 260 percent from the previous year, research from U.S.-based cyber security firm CiptherTrace showed. Exchanges in Japan and South Korea accounted for 58 percent of the thefts last year, the research found.

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It ain’t easy being green.

A War Is Brewing Over Lithium Mining At The Edge Of Death Valley (LA Times)

A small Cessna soared high above the Mojave Desert recently, its engine growling in the choppy morning air. As the aircraft skirted the mountains on the edge of Death Valley National Park, a clutch of passengers and environmentalists peered intently at a broiling salt flat thousands of feet below. The desolate beauty of the Panamint Valley has long drawn all manner of naturalists, adventurers and social outcasts — including Charles Manson — off-road vehicle riders and top gun fighter pilots who blast overhead in simulated dogfights. Now this prehistoric lake bed is shaping up to be an unlikely battleground between environmentalists and battery technologists who believe the area might hold the key to a carbon-free future.


Recently, the Australia-based firm Battery Mineral Resources Ltd. asked the federal government for permission to drill four exploratory wells to see if the hot, salty brine beneath the valley floor contains economically viable concentrations of lithium. The soft, silvery-white metal is a key component of rechargeable lithium-ion batteries and is crucial to the production of electric and hybrid vehicles. The drilling request has generated strong opposition from the Center for Biological Diversity, the Sierra Club and the Defenders of Wildlife, who say the drilling project would be an initial step toward the creation of a full-scale lithium mining operation. They say lithium extraction would bring industrial sprawl, large and unsightly drying ponds and threaten a fragile ecosystem that supports Nelson’s bighorn sheep, desert tortoises and the Panamint alligator lizard, among other species.

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Why go into allegations that have no proven substance? There is no point in that which supports Assange. Tons of sympathy for Caitlin, but I really think this should be about Julian, not about her.

People Who Publicly Fret About Assange Rape Allegations Are Lying (CJ)

As a survivor of multiple sexual assaults, I have found it unspeakably infuriating the way this same patriarchal imperialist system which has allowed rape culture to thrive throughout the entirety of its existence has suddenly become deeply, deeply concerned about plot hole-riddled and completely unproven allegations against a man who just so happens to have published humiliating truths about that very same imperialist system. This same warmongering power structure which has never given a shit about women beyond our ability to fly a stealth bomber and squeeze new recruits out of our vaginas suddenly has the full force of its propaganda machine whipping liberals into a hysteria about allegations of acts that aren’t even illegal in the nations those liberals live in. Acts that these liberals have never even thought about pushing to make laws against in their own governments.


Do you know how you can be absolutely certain that anyone you see on social media rending their garments about Assange’s Swedish allegations is completely full of shit? Because no matter how hard you search through their post history, you will never, ever find any similarly enthusiastic push to ban the actions that Assange is accused of in their own government. In their own land, where their own daughters and sons will be impacted. They focus solely on shaky allegations against a target of the CIA and the Pentagon which are alleged to have happened in Sweden, a nation with very different sexual consent laws than the nations of these English-speaking concern trolls.

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Good headline.

Humanity Is About to Kill 1 Million Species in a Murder-Suicide (NYMag)

Human beings are more prosperous and numerous than we’ve ever been, while the Earth’s other species are dying off faster than at any time in human history. These two conditions are related. But if the second one persists long enough, we will be following our fellow organisms into the dustbin of geological history. This is the primary takeaway from a new United Nations report on our planet’s rapidly diminishing biodiversity. Humanity is reshaping the natural world at such scale and rapidity, an estimated 1 million plant and animal species are now at risk of extinction, according to the U.N. assessment.

Climate change is a major driver of all this death, but burning fossil fuels is far from our species’ only method of mass ecocide. We are also harvesting fish populations faster than they can reproduce themselves, annually dumping upward of 300 million tons of heavy metals and toxic sludge into the oceans, introducing devastating diseases and invasive species into vulnerable environments as we send people and goods hurtling across the globe, and simply taking up too much space — about 75 percent of the Earth’s land, and 85 percent of its wetlands, have been severely altered or destroyed by human development.

All this plunder has worked out fairly well for us, thus far. But all of our prosperity depends upon the natural world reproducing itself. As the New York Times notes, the U.N. has previously estimated that nature provides the economies of the Americas with $24 trillion worth of non-monetized benefits each year: “The Amazon rain forest absorbs immense quantities of carbon dioxide and helps slow the pace of global warming. Wetlands purify drinking water. Coral reefs sustain tourism and fisheries in the Caribbean. Exotic tropical plants form the basis of a variety of medicines. But as these natural landscapes wither and become less biologically rich, the services they can provide to humans have been dwindling.”

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There is no man or woman who can’t be touched

But you who come between them will be judged

-Leonard Cohen

 

 

 

 

May 072019
 


Robert Rauschenberg Collection 1954-55

 

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

 

 

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

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

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

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

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

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There are more oversights than this article mentions.

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

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

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

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

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

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

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

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Ron Paul has endorsed Tulsi Gabbard. Good.

A Nuclear War? Over Venezuela? (Ron Paul)

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

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

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

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

Going South (Jim Kunstler)

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

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

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

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

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

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

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

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

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

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

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


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

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

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See my article yesterday.

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

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

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

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

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

Silent Spring’s Encore (CP)

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


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

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A few pieces on the UN report.

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

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

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

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

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

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

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

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

Humanity Must Save Insects To Save Ourselves (G.)

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


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

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


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

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Lip service will be paid.

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

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


Getty Images

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


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

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Money doesn’t talk, it swears
– Bob Dylan