Jun 042019
 
 June 4, 2019  Posted by at 7:30 pm Finance, Primers Tagged with: , , , , , , , , , ,  


Francisco Goya The dog 1820-23

 

What follows are items from sources not everyone may like, such as Fox and The Hill. But please bear with me, because if you want to understand what is about to happen in the US, you’re going to need this kind of info, and you’re not likely to get it from the mainstream media.

The overall term here is questions. There are too many to list. Some will merely be asked, some will be asked and answered, others will not be asked at all. It’s going to be a jousting match between lawyers and prosecutors, investigators and politicians. It’s safe to say it’s going be ugly.

First off, as Zero Hedge reports, Christopher Steele, after long refusing to, has agreed to talk to investigators from the US Justice Department’s Office of the Inspector General.

 

Steele Agrees To Discuss Trump Dossier With DOJ Inspector General

Former MI6 agent Christopher Steele has finally agreed to meet with US officials to discuss his relationship with the FBI, and the now-infamous dossier of unfounded claims against Donald Trump which he assembled on behalf of the Clinton campaign and the Democratic National Committee. The 54-year-old Steele has agreed to meet with investigators from the US Justice Department’s Office of the Inspector General (OIG), according to The Times of London, after a former US official told Politico that the OIG report would “try to deeply undermine” Steele.

The news marks a 180-shift in Steele’s past refusals to engage with US authorities. In April, Politico reported that Steele would not meet with the OIG to assist them with their investigation, while just last week, Reuters reported that he wouldn’t meet with US attorney John Durham, who was handpicked by AG William Barr to review the origins of the Trump-Russia probe.

Steele, a MI6 Russia specialist for more than two-decades, has worked with the FBI as a confidential source since 2010. According to the report, he will retain the services of a top American attorney if the interview goes ahead, and is only willing to discuss the narrow scope of his dealings with US intelligence. Steele also wanted US officials to seek the approval of the British government.

Steele’s lawyers will try to limit the topics on the table as much as they can. But that may not be enough. There are very serious doubts and allegations surrounding the Steele Dossier, as well as the clients he prepared the report for. There’s Hillary Clinton, there’s the DNC, there’s their law firm Perkins Coie, there’s Fusion GPS, there’s its CEO Glenn Simpson, there’s the FBI, there’s the 2016 DOJ, and then there’s John Brennan and James Clapper. All these parties have played roles in making sure the dossier was ‘prepared’.

That is a lot of parties. How Steele is going to talk under oath without implicating one or more of them in shady dealings if not downright criminal activities is hard to imagine. If only because the dossier leads straight to the Mueller report, which would never have been written if the Steele dossier had not been used to -possibly illegally- get FISA warrants.

Moreover, Robert Mueller is now being accused of tampering with evidence he used in his report. I know I seem to be jumping from Steele to Mueller kind of suddenly, but these things are very closely connected, so I’ll allow myself that freedom.

It appears from files released on the order of judge Sullivan that Mueller has tampered with his own evidence. He omitted part of a phone conversation between lawyers for Trump and those for Michael Flynn, ostensibly to create the impression that the former sought confidential information.

 

Ex-Trump Lawyer John Dowd Slams Mueller Report As A ‘Fraud’

Nunes, ranking member of the House Intelligence Committee, was reacting to the release of a voicemail message that John Dowd, a former lawyer for President Trump, had left for a lawyer representing former national security adviser Michael Flynn, in which Dowd asks for a “heads up” if Flynn planned to say anything damaging about Trump to Mueller’s team. Nunes retweeted a side-by-side comparison of the Dowd transcript text and the Mueller report text, suggesting that the Mueller report did not disclose the full Dowd message.


The Mueller report had redacted the part of the voicemail where Dowd said he wanted the heads up “not only for the president but for the country” and that he wasn’t asking for “any confidential information.” Alan Dershowitz claimed on “Hannity” Monday night that the quotation was “distorted.” “This is a very, very serious issue,” he said. “The distortion of the Dowd quote is very serious. Especially since, remember, that a report by a special counsel is always going to be one-sided. Therefore, you have to trust it.”

 

Totally separate from the above development, Democrat House Majority Leader Steny Hoyer wants Mueller to talk to Congress no matter what. The Dems of course want to get dirt on Trump from Mueller, but given that development, added to many other questions GOP Congressmen already wanted to ask him, the Mueller testimony may well backfire in spectacular fashion. Do they realize this?

 

Hoyer: Democrats Should Subpoena Mueller If Necessary

House Majority Leader Steny Hoyer (D-Md.) said Tuesday that Democrats should insist on special counsel Robert Mueller’s appearance before Congress, even if it requires a subpoena. “I think he ought to testify. He may want a subpoena, for all I know,” Hoyer said during his weekly press briefing in his Capitol office. “He indicated that his report speaks for itself. Very frankly, … questioning is an important fact-finding pursuit.”

Mueller said last week during brief remarks at the Justice Department that he hoped those statements — combined with his 488-page report — would be his last word on the topic. It was a clear indication that the former FBI chief — who’s built a reputation for nonpartisanship over his long career in Washington — is hoping to avoid the political circus that would surely accompany his return to Capitol Hill.

But Democrats are fighting to secure his testimony, emphasizing the importance of hearing the author of the report elucidate its conclusions. Both Reps. Jerrold Nadler (D-N.Y.), chairman of the House Judiciary Committee, and Adam Schiff (D-Calif.), chairman of the Intelligence Committee, are in negotiations with Mueller’s team in an effort to secure the special counsel’s testimony. [..] Another Democratic lawmaker familiar with the talks said a major sticking point remains Mueller’s reluctance to testify publicly, as Democrats are insisting.

“We’re trying to do everything possible to get him out in the open,” said the lawmaker, who spoke anonymously to discuss the sensitive negotiations. Democrats are also wary that Mueller will be unwilling to answer clarifying questions outside the literal text of his report, the lawmaker said. “The concern is that Mueller is just going to sit there like a parrot and parrot the report,” the lawmaker said. “And there’s not going to be anything meaningfully new coming out of the testimony.”

Here are a few questions Mueller may be called upon to answer, courtesy of Sharyl Attkisson at The Hill. Most if not all appear to me to be reasonable, and there seems to be little reason not to demand they are answered. The credibility of the entire American political system, as well as the intelligence community, is at stake.

 

Robert Mueller’s Parting Shot: 10 Questions I’d Like To Ask

The statement Mueller chose to give carries with it an implication that his team looked for evidence of President Trump’s innocence but simply could not find it. With that in mind, I thought of a short list of questions I’d like to ask Mueller, if ever permitted to do so:

1) What witnesses did you interview and what evidence did you collect in an attempt to exonerate Trump or prove him not guilty? (I believe the answer would be, “None. It’s not the job of a special counsel or prosecutor to do so.” Therefore, was Mueller’s comment appropriate?)

2) Does it concern you that the FBI claimed “collection tool failure” in stating that 19,000 text messages between former FBI employees Lisa Page and Peter Strozk had been deleted and were unavailable for review by the Department of Justice (DOJ) inspector general? Is it worth investigating how the inspector general was able to recover the messages, when the FBI said it could not? Does the FBI lack the technical expertise, or the will? Isn’t it a serious issue that should be addressed, either way?

3) Along the same lines, do you think it strange or inappropriate that the DOJ wiped text messages between Strzok and Page from their special counsel cell phones? The deletions happened shortly after they were ejected from the team and before the DOJ’s Office of the Inspector General could review them — at a time when all had been informed that their actions were under review. Did technicians attempt to recover the messages? Were the circumstances of the deletions thoroughly investigated?

4) When did you first learn that the FBI and DOJ signed off on and presented unverified, anti-Trump political opposition research to a court to get wiretaps on an innocent U.S. citizen? Doesn’t this violate the strict procedures enacted while you were FBI director, intended to ensure that only verified information is seen by the court? Who will be held accountable for any lapses in this arena?

5) Do these issues point to larger problems within our intelligence community, in terms of how officials operate? Does that put you in a position where there’s a conflict of interest since you were in charge of the FBI when prior surveillance abuses were identified by the Foreign Intelligence Surveillance Court? Did you consider disclosing this potential conflict and stepping aside, or referring any issues that overlap with your interests?

6) What steps did you take after Strzok and Page were exposed, to try to learn if other investigators on your team likewise were conflicted? Did you take action to segregate the work of these agents and any potential biases they injected into your investigation and team? Wasn’t their behavior a beacon to call you to follow an investigative trail in another direction?

7) Did you become concerned about foreign influence beyond Russia when you learned that a foreign national, Christopher Steele, claimed to have obtained opposition research from Russian officials connected to Putin — and that the FBI and DOJ presented this material to the Foreign Intelligence Surveillance Court to obtain wiretap approvals?

8) Were you aware that some Democratic Party officials acknowledged coordinating with Ukraine in 2016 to undermine Trump and his associates and to leak disparaging information to the news media?

9) Is it true that you applied for the job as FBI director but Trump rejected you, the day before then-Acting Attorney General Rod Rosenstein appointed you as special counsel to investigate Trump? Does that put you in a potentially conflicted position?

10) Do you think Donald Trump is guilty of a crime? If so, then do you believe he is perhaps the most clever criminal of our time since he was able to conceal the evidence despite all the government wiretaps, investigations, informants, surveillance and hundreds of interviews spanning several years?

And then when the DOJ, as well as AG William Barr’s team, are done with Mueller, The Hill’s John Solomon has another set of questions, this time for Hillary Clinton. And again, the credibility of the entire American political system, as well as the intelligence community, is at stake. Is Hillary untouchable?

 

Hillary Clinton’s Russia Collusion IOU: The Answers She Owes America

Here are 10 essential questions:

1) In January 2018, the Senate Judiciary Committee sent a formal investigative request for documents and written answers from your campaign. Do you plan to comply?

2) Please identify each person in your campaign who was involved with, or aware of, hiring Fusion GPS, Glenn Simpson and Christopher Steele.

3) Please identify each person in your campaign, including Perkins Coie lawyers, who were aware that Steele provided information to the FBI or State Department, and when they learned it.

4) Describe any information you and your campaign staff received, or were briefed on, before Election Day that was derived from the work of Simpson, Steele, Fusion GPS, Nellie Ohr or Perkins Coie and that tried to connect Trump, his campaign or his business empire with Russia.

5) Please describe all contacts your campaign had before Election Day with or about the following individuals: Bruce Ohr, Nellie Ohr, Glenn Simpson, Christopher Steele, former Australian diplomat Alexander Downer, former foreign policy scholar Stefan Halper and Maltese academic Joseph Mifsud.

6) Did you or any senior members of your campaign, including lawyers such as Michael Sussmann, have any contact with the CIA, its former Director John Brennan, current Director Gina Haspel, James Baker, Peter Strzok, Lisa Page or former FBI Deputy Director Andrew McCabe?

7) Describe all contacts your campaign had with Cody Shearer and Sidney Blumenthal concerning Trump, Russia and Ukraine.

8) Describe all contacts you and your campaign had with DNC contractor Alexander Chalupa, the Ukraine government, the Ukraine Embassy in the United States or the U.S. Embassy in Kiev concerning Trump, Russia or former Trump campaign chairman Paul Manafort.

9) Why did your campaign and the Democratic Party make a concerted effort to portray Trump as a Russian asset?

10) Given that investigations by a House committee, a Senate committee and a special prosecutor all have concluded there isn’t evidence of Trump-Russia collusion, do you regret the actions by your campaign and by Steele, Simpson and Sussmann to inject these unfounded allegations into the FBI, the U.S. intelligence community and the news media?

The Democrats, including Hillary Clinton, had their day in the sun with the 2 years Mueller probe. Now ‘the other side’ has its turn. And it makes no difference what side you are on, or even whether you think that is fair, this is going to happen. How it can go down without people being indicted, I can’t see. Same as with some Trump allies. Paul Manafort was sent to Rikers Island today.

Still, in the same way that it’s impossible to predict which questions will eventually be asked, and which the legal experts on all sides decide should not be asked, it’s not possible at this point to foresee where the hammer will come down hardest. But it’s not going to be pretty.

Then again, we’re looking, down the line, at Brennan and Clapper and the entire intelligence community. Do Barr and IG Horowitz have the clout and the strength and determination to clean up that mess? Here’s hoping that they do. America needs a thorough cleansing, badly.

 

 

 

 

Jun 012019
 
 June 1, 2019  Posted by at 8:30 am Finance Tagged with: , , , , , , , , , ,  


 

Relentless and Unrestrained Public Mobbing, Intimidation and Defamation (CN)
UN Special Rapporteur Calls for Julian Assange to Be Freed (DN)
Assange ‘Psychologically Tortured To Breaking Point By Democratic States’ (RT)
Are US/UK Trying To Kill Assange? – Ron Paul (DM)
Assange May Have To Die Before Journalists Realize Implications – Galloway (RT)
36 Countries The US Has Bullied This Week (RT)
Prelude to a Fiasco (Jim Kunstler)
US Stock Market Forgoes $5 Trillion In Returns Due To Trade War – Deutsche (MW)
Dow 25,000! Oops…(WS)
Mexico Tariffs May Hurt $600 Billion In Cross-Border Trade, US Economy (MW)
Brazil Snubs Venezuelan Opposition Envoy As Doubts Rise On Guaido (R.)

 

 

NOTE: quite a few video’s today, which don’t always show if you receive this by mail. In that case, please refer to the Automatic Earth site.

 

 

“I’ve seen atrocities in war areas that were physically more horrible but I’ve never seen a single person pursued so relentlessly and with so little foundation.”

Relentless and Unrestrained Public Mobbing, Intimidation and Defamation (CN)

“It was obvious that Mr. Assange’s health has been seriously affected by the extremely hostile and arbitrary environment he has been exposed to for many years. Most importantly, in addition to physical ailments, Mr. Assange showed all symptoms typical for prolonged exposure to psychological torture, including extreme stress, chronic anxiety and intense psychological trauma.” “My most urgent concern is that, in the United States, Mr. Assange would be exposed to a real risk of serious violations of his human rights, including his freedom of expression, his right to a fair trial and the prohibition of torture and other cruel, inhuman or degrading treatment or punishment,” said Melzer.

He said he was “particularly alarmed” by the Espionage Act charges. “This may well result in a life sentence without parole, or possibly even the death penalty, if further charges were to be added in the future,” said Melzer. “[Assange] is really something I’ve never seen in 20 years,” Melzer said. “I’ve seen atrocities in war areas that were physically more horrible but I’ve never seen a single person pursued so relentlessly and with so little foundation. “[When I saw him] I immediately compared him to some of the graver cases in interrogation prisons in terms of his psychological reaction patterns. That’s what alarmed me so much.” He said Assange’s treatment was “very close to the intentional, purposeful infliction of coercive measures to try to break him”.

He appeared “extremely agitated and preoccupied,” Melzer said. “He asked a lot of questions and he would jump around, he was so preoccupied with everything he can’t even compute my answers any more. “There were episodes of this, then he was part of the conversation as normal, then again he would enter into this agitated state. I have seen with other victims of psychological torture that would happen.” Melzer also blasted the government of Assange’s native Australia. He told the newspaper, “Australia is a glaring absence in this case. They’re just not around, as if Assange was not an Australian citizen. That is not the correct way of dealing with that.”

 

Read more …

Interesting man for sure. This part of his report stands out:

“I believe we have to take a step back and look at all these proceedings, how they have been conducted, and come to our own conclusions whether these are fair. We also have to take a step back and look at this whole narrative of suspected rapist; narcissist; selfish, ungrateful person; hacker, and scratch the surface a little bit and see what’s below there.


When I was first approached by his defense team seeking protection from my mandate in December last year, I was reluctant to do so, because, me, too, I had been affected by this prejudice that I had absorbed through all these public, you know, narratives spread in the media over the years. And only when I scratched the surface a little bit, I saw how little foundation there was to back this up and how much fabrication and manipulation there is in this case. So I encourage everybody to really look below the surface in this case.”

UN Special Rapporteur Calls for Julian Assange to Be Freed (DN)

The United Nations special rapporteur on torture is warning that WikiLeaks founder Julian Assange is suffering from the effects of “psychological torture” due to his ongoing detention and threats of possible extradition to the United States. The U.N. expert, Nils Melzer, also warned that Assange would likely face a “politicized show trial” if he were to be extradited to the United States. Melzer writes, “In 20 years of work with victims of war, violence and political persecution, I have never seen a group of democratic states ganging up to deliberately isolate, demonize and abuse a single individual for such a long time.” Julian Assange is currently serving a 50-week sentence for skipping bail in 2012 at London’s Belmarsh Prison, after he was forcibly removed from the Ecuadorean Embassy by British police last month.


Last week, the U.S. Justice Department announced it was charging Assange with 17 counts of violating the Espionage Act for his role in publishing U.S. classified military and diplomatic documents exposing U.S. war crimes in Iraq and Afghanistan. Assange, who had already been charged on one count of hacking a government computer, now faces up to 170 additional years in prison under the new charges—10 years for each count of violating the Espionage Act. Assange was due to appear by video link before a magistrates’ court on Thursday but failed to appear, reportedly due to health problems. We speak with U.N. Special Rapporteur on Torture Nils Melzer.

Read more …

Nils Melzer did a whole range of interviews in one day.

Assange ‘Psychologically Tortured To Breaking Point By Democratic States’ (RT)

Jailed WikiLeaks co-founder Julian Assange shows clear signs of degrading and inhumane treatment which only adds to his deteriorating health, UN Special Rapporteur on Torture Nils Melzer told RT. Assange has “all the symptoms typical for a person who has been exposed to prolonged psychological torture,” Melzer told RT’s Afshin Rattansi. This adds to the toll of his deteriorating physical state caused by a lack of adequate medical care for several years, he said. Melzer said he was judging from two decades of experience in working with POWs and political prisoners, and only after applying “scientific” UN methods to assess Assange’s condition. But the journalist’s case still “shocked” him.


An individual has been isolated and singled out by several democratic states, and persecuted systematically… to the point of breaking him. Earlier this month, a UK court sentenced the WikiLeaks co-founder to nearly a year in jail for skipping bail in 2012. The courts are now deciding whether to extradite Assange to the US where he is wanted for 17 charges under the Espionage Act. He can end up serving up to 175 years in prison if proven guilty.

Read more …

Me too, I thought of Warmbier: “..how would we look a lot different to the North Koreans on the surface?’

Are US/UK Trying To Kill Assange? – Ron Paul (DM)

Former Congressman and presidential candidate Ron Paul says Julian Assange could die in prison and blames the apparent deterioration in the WikiLeaks founder’s heath on how he is being treated by the US and UK governments. Speaking on ‘Ron Paul Liberty Report, the 83-year-old accuses the US government of pursuing Assange and says they would like to either challenge him with a death penalty or a life time in prison ‘for being a journalist.’ The Libertarian calls Assange’s a ‘tragic story’ and describes his health as ‘very very bad,’ commenting that friends of the whistleblower are worried that his health may not hold up. [..] Paul also compares Assange’s plight to the case of Otto Frederick Warmbier, an American college student imprisoned in North Korea in 2016.


In June 2017, Warmbier was released by North Korea in a vegetative state and died soon afterward. Paul goes on to ask what the ramifications would be if Assange is much sicker than is being revealed and dies in prison as the result of how his case has been handled by Washington and London. ‘If he had a terminal disease or something happens to him, good, bad, or whatever and he dies in the prison, how would we look a lot different to the North Koreans on the surface?’ Paul questions. Paul goes on to slam the American media and journalists for their lack of reporting on Assange’s health problems, adding that news of his ill health came out via a Swedish newspaper. Paul adds there is ‘not much good journalism around any more’ and that by not doing more reporting on Assange, journalists ‘don’t want to protect their right to be a journalist.’

Read more …

They still wouldn’t realize a thing.

Assange May Have To Die Before Journalists Realize Implications – Galloway (RT)

“Julian Assange may have to die in the hospital wing of Belmarsh prison in order to bring it about” George Galloway believes it’s not long until ‘we could be in George Orwell’s 1984’ as he talks to In Question’s Manila Chan about the Wikileaks founder being too ill to appear at extradition hearing.

Read more …

The US will end up all alone.

36 Countries The US Has Bullied This Week (RT)


© Global Look Press / Uwe Skrzypczak

It’s been a busy few days for American diplomacy, with three dozen nations ending up at the receiving end of threats, ultimatums and sanctions this week alone. And it’s only Friday. Mexico is the latest target, slapped with 5 percent tariffs on each and every export, gradually increasing to 25 percent until it stops the flow of Latin American migrants into the US, thus fulfilling one of President Donald Trump’s election promises. Most of those migrants aren’t even from Mexico. On the other side of the world, India is reportedly about to be forced to face a choice: ditch the purchase of Russian S-400 air defense systems or face sanctions under the Countering America’s Adversaries Through Sanctions Act (CAATSA, Washington’s go-to cooperation enforcement instrument).

Turkey is facing a similar ultimatum: abandon S-400s (something Ankara has repeatedly refused to do) or lose access to the F-35 fighter jet program. This threat was repeated on Thursday by Kathryn Wheelbarger, US acting assistant secretary of defense for international security affairs. Ankara has already invested some $1.25 billion into the super-expensive American fighter, but with a lot of its parts being made in Turkey, it’s still an open question who would be the bigger loser. The entire European Union could be facing punishment if it tries to trade with Iran using its non-dollar humanitarian mechanism to bypass the American embargo. Having worked hard on the 2015 nuclear deal with Tehran, which has repeatedly been confirmed to be working, EU member states are not ready to ditch trade at Trump’s whim – and US Special Representative to Iran Brian Hook on Thursday reaffirmed the threat of CAATSA sanctions.

Read more …

”The object is solely to divert the nation’s attention with an impeachment circus, allowing Mr. Mueller to slip away harmlessly into history..”

Prelude to a Fiasco (Jim Kunstler)

You’d think that Robert Mueller might know what any licensed attorney-at-law in the land tells a client in a tight spot with a lame alibi: better keep you mouth shut. Instead, Mr. Mueller crept Sphinx-like out of the Deep State woodwork on little cat’s paws and in a brief nine minutes blabbed out a set of whopperish riddles much more likely to get himself in trouble than the target of his hinky inquisition. The key whopper was that he could not make “a determination” on an obstruction-of-justice charge against Mr. Trump because guidance policy from the DOJ’s Office of Legal Counsel had said some years ago that a sitting president can’t be indicted. That is not what he told his boss, Mr. Barr, the Attorney General (and a roomful of the AG’s staffers who heard it), in person when he delivered his final report a few weeks ago.

Upon receipt of that report, Mr. Barr asked the Special Counsel three times whether his inability to conclude anything on an obstruction charge was due to the OLC guidance, and three times Mr. Mueller answered “no.” Mr. Barr relayed this on-the-record in testimony before the House Judiciary Committee and, as averred above, he has plenty of witnesses. It should not be hard to reach a determination on who is telling truth here. In fact, Mr. Mueller could have declared that he found chargeable obstruction crimes were committed based on the evidence, and also demurred to press them at this time — leaving them available to federal prosecutors until after the president was out of office, one way or another.

The reason he didn’t is that Mr. Mueller does not want the case to come to trial, ever, because he would lose badly and his reputation would be destroyed. Consider that in any trial, the defendant gets to call witnesses and make his own case. The evidence for gross prosecutorial misconduct on the part of Mr. Mueller and his associates is mountainous compared to the molehill of Mr. Trump’s temper tantrums over the seditious hoax he was subject to. And that matter is now moving in the direction of adjudication. So instead, Mr. Mueller has set in motion a potential political crisis as momentous as the Civil War, but completely unlike it.

Knowing that congress can impeach the president on just about anything — especially this president, publicly reviled like no other before him — he served congress the platter of material to use in the form of his final report, and pretty much dared them to not go forward with it. Get this: it is a ruse. The object is solely to divert the nation’s attention with an impeachment circus, allowing Mr. Mueller to slip away harmlessly into history without sacrificing his own reputation in a courtroom.

Read more …

We like big numbers.

US Stock Market Forgoes $5 Trillion In Returns Due To Trade War – Deutsche (MW)

The U.S. stock market has left $5 trillion on the table as trade tensions over the past 17 months contributed to an effectively sideways trade, Deutsche Bank estimated on Friday. “While other factors also arguably played a role, the trade war has been key in preventing a recovery in global growth and keeping U.S. equities range bound. Foregone U.S. equity returns from price appreciation for 17 months are worth $5 trillion,” wrote Binky Chadha, the bank’s chief strategist, in a Friday note, based on an price appreciation at an annual rate 12.5% (see chart below).

Chadha’s calculation is based on the capitalization of the Russell 3000, a broad measure of equity markets, which had a capitalization of $28.7 trillion at the start of 2018. Foregone returns for the index over 17 months comes out to $5 trillion. The S&P 500 in the first four months of 2019 bounced back sharply from a steep fourth-quarter selloff nudging to an all-time closing high in April. But the index has retreated more than 6% in May, posting its first monthly decline since December and its worst May performance since 2010. The Dow Jones Industrial Average which failed to return to record territory before the May swoon, also fell more than 6% for the month.

Read more …

What $20 trillion in stimulus bought you.

Dow 25,000! Oops…(WS)

Stocks were already gunning for the worst May since 2010 when, on the evening before the last trading day, Trump tweeted that he would impose tariffs on imports from Mexico, if Mexico doesn’t crack down on migration flows coming through its southern border. Those tariffs would hit the automakers particularly hard because they imported 2.6 million vehicles from Mexico in 2018, up 10% from the prior year. Not even counting the component makers. But the Presidential tweet was just the icing on the cake. May had been crappy for stocks before the tweet went out.


The S&P 500 index, which earlier this week had fallen through 2,800, dropped another 1.3% today to 2,752, down 6.8% from its peak in early May that had exceeded by a hair the prior peak of September 2018. The index is now back where it had first been on January 9, 2018, having spent nearly 17 months going nowhere, despite intoxicating surges and nerve-wracking drops. And the chart is morphing from “not pretty” to something a little uglier (data via S&P Dow Jones Indices):

The Dow Jones Industrial Average fell 1.1% today, unceremoniously plopping through the 25,000 level and closed at 24,815. It’s now 7.9% below its October 2018 peak and right back where it had first been in December 2017, having spent 17 months gyrating to nowhere, including a 19% peak-to-trough plunge in four months followed by a blistering 22% rally in four months. The Nasdaq composite dropped 1.5% today, to 7,453, the level it first reached in January 2018, also going nowhere in nearly 17 months despite a huge bout of volatility. It fell 8.7% in May. The Russell 2000 index, which covers stocks with smaller market capitalization, fell 1.3% today, to 1,478. It’s down 9.2% in May alone, down 15.7% from its October 2018 peak, and right back where it had first been on September 26, 2017, a very volatile 20 months of going nowhere. Chart looking ugly (data via Investing.com):

Read more …

This just might go horribly wrong.

Mexico Tariffs May Hurt $600 Billion In Cross-Border Trade, US Economy (MW)

The U.S. economy could suffer a wrenching blow, business leaders and economists say, if President Trump follows through on his threat to slap tariffs on all imports from Mexico in a dispute over immigration controls. The president on Thursday said he would apply a 5% tariff on $350 billion in imports from Mexico unless the country reduces the flow of immigrants seeking to enter the United States. The surprise move slammed the stock market and prompted an immediate backlash from business. “These proposed tariffs would have devastating consequences,” said Jay Timmons, president of the National Association of Manufacturers. “Workers should not be forced to suffer because of the failure to fix our immigration system.”

Households could face higher prices for groceries and other key consumer staples, economists say. And businesses would have to pay more for key parts and materials, especially in the auto industry. “The duties represent a significant risk to business activity both north and south of the border,” said chief economist Gregory Daco of Oxford Economics. He said Mexico could be thrown into recession while U.S. growth could fall to 1% or less by 2020. The economies of the U.S. and Mexico have become inextricably intertwined in the quarter of a century since the North American Free Trade Agreement deal was signed in 1994. The two countries exchanged a whopping $612 billion in goods last year, making Mexico the third largest trading partner after Canada and China. More than $1.5 billion in products cross the border between the two countries every day.


Although Mexico is popularly known as the main U.S. source for avocados and tequila, the huge amount of products it sends to its northern neighbor each year touch almost every major segment of America’s economy. The U.S. imports enormous quantities of autos and parts, computer equipment, oil and gas, appliances and plastic and rubber products — not to mention fruits and vegetables such as tomatoes, berries and melons. Mexican imports in 2018 hit a record $347 billion.

Read more …

Geez, is that still on?

Brazil Snubs Venezuelan Opposition Envoy As Doubts Rise On Guaido (R.)

Brazil withdrew an invitation to the envoy for Venezuelan opposition leader Juan Guaido to present her diplomatic credentials, she said on Friday, and the government in Brasilia said it would decide later whether to accept them. Brazilian President Jair Bolsonaro still recognises Guaido as the legitimate president of Venezuela, his spokesman said. Guaido’s envoy, Maria Teresa Belandria, played down the idea that the snub reflected scepticism from Bolsonaro’s government. Diplomatic analysts said mounting evidence that a change of government in Venezuela is not imminent may have Bolsonaro and his aides wondering if they overplayed their support for Guaido.


Former military officers making up about a third of Brazil’s cabinet have been wary of provoking Venezuelan President Nicolas Maduro, warning against moves that could tip an economic and political crisis into violence across Brazil’s northern border. Belandria had been invited to present her credentials at the presidential palace along with ambassadors from other countries next Tuesday, but the government changed its mind. “I was uninvited,” she told Reuters, but went on to dismiss any suggestion the snub reflected diminished support for Guaido. “There will be another opportunity,” she said. “Brazil’s support continues to be strong, solid and decisive. It’s merely a protocol matter.”

Read more …

 

Julian on Google

 

 

 

 

May 312019
 
 May 31, 2019  Posted by at 9:01 am Finance Tagged with: , , , , , , , , , , ,  


 

Julian Assange Shows Psychological Torture Symptoms – UN Expert (G.)
Julian Assange Must Never Be Extradited (Matt Taibbi)
The Unrelenting State (Craig Murray)
Trump Announces Tariffs On Mexico Until ‘Immigration Problem Remedied’ (G.)
Futures, Peso Tumble As Trump Unleashes Tariffs On Mexico (ZH)
GOP Senator Grassley Blasts Trump Over Mexico Tariff Threat (Hill)
Russiagate Is #1 Threat To US National Security – Stephen Cohen (RT)
Malaysia PM Wants Evidence To Show Russia Shot Down MH17 (FMT)
Boeing Admits It ‘Fell Short’ On Safety Alert For 737 (BBC)
Yield-Curve Spaghetti (WS)
Ted Cruz, AOC Agree To Ban Former Congress Members From Becoming Lobbyists (G.)

 

 

Time is ticking away.

Julian Assange Shows Psychological Torture Symptoms – UN Expert (G.)

Julian Assange is showing all the symptoms associated with prolonged exposure to psychological torture and should not be extradited to the US, according to a senior UN expert who visited him in prison. Nils Melzer, UN’s special rapporteur on torture, is expected to make his appeal to the UK government on Friday. It comes after Assange, the co-founder of WikiLeaks, was said by his lawyers to be too ill to appear by video link for the latest court hearing of the case on Thursday. Assange has been moved to the health ward of Belmarsh prison, London, where he has been serving a 50-week sentence for skipping bail while fighting extradition to the US.

He is accused of violating the Espionage Act by publishing secret documents containing the names of confidential US military and diplomatic sources. After meeting Assange earlier this month in the company of medical experts who examined him, Melzer will say on Friday that he fears the Australian’s human rights could be seriously violated if he is extradited to the US and will condemn what he describes as the “deliberate and concerted abuse inflicted for years” on him. “Physically there were ailments but that side of things are being addressed by the prison health service and there was nothing urgent or dangerous in that way,” Melzer said.

“What was worrying was the psychological side and his constant anxiety. It was perceptible that he had a sense of being under threat from everyone. He understood what my function was but it’s more that he was extremely agitated and busy with his own thoughts. It was difficult to have a very structured conversation with him.” [..] The lawyer [..] said that his office had been approached by Assange’s lawyers in December. But he said that he was initially reluctant to do so, admitting he was affected by what he called the “prejudice” around the case.However, he began looking into the case again in March and, earlier this week, wrote letters to the foreign ministers of the US, the UK and Sweden.

“In the course of the past nine years, Mr Assange has been exposed to persistent, progressively severe abuse ranging from systematic judicial persecution and arbitrary confinement in the Ecuadorian embassy, to his oppressive isolation, harassment and surveillance inside the embassy, and from deliberate collective ridicule, insults and humiliation, to open instigation of violence and even repeated calls for his assassination,” Melzer will say on Friday. He added the UK authorities had contacted his Geneva office to indicate that the British government would be issuing a point-by-point rebuttal of the assertions made in his letter. [..] “In 20 years of work with victims of war, violence and political persecution I have never seen a group of democratic states ganging up to deliberately isolate, demonise and abuse a single individual for such a long time and with so little regard for human dignity and the rule of law.”

Read more …

I doubt Orwell ever knew how right he was.

Julian Assange Must Never Be Extradited (Matt Taibbi)

WikiLeaks founder Julian Assange today sits in the Belmarsh High Security prison in southeast London. Not just for his sake but for everyone’s, we now have to hope he’s never moved from there to America. The United States filed charges against Assange early last month. The case seemed to have been designed to assuage fears that speech freedoms or the press were being targeted. That specific offense was “computer hacking conspiracy” from back in 2010. The “crime” was absurdly thin, a claim that Assange agreed (but failed, apparently) to try to help Chelsea Manning develop an administrative password that could have helped her conceal identity as she downloaded secrets. One typewritten phrase, “No luck so far,” was the damning piece of evidence.

The troubling parts of that case lurked in the rest of the indictment, which seemed to sell normal journalistic activity as part of the offense. The government complained that Assange “took measures to conceal Manning as the source of the disclosure.” Prosecutors likewise said, “Assange encouraged Manning to provide information and records from departments and agencies of the United States.” The indictment stressed Assange/Manning were seeking “national defense information” that could be “used to the injury of the United States.” The indictment likewise noted that the pair had been guilty of transmitting such information to “any person not entitled to receive it.” It was these passages that made me nervous a month and a half ago, because they seemed to speak to a larger ambition.

Use of phrases like “national defense information” given to persons “not entitled to receive it” gave off a strong whiff of Britain’s Official Secrets Acts, America’s Defense Secrets Act of 1911 (which prohibited “national defense” information going to “those not entitled to receive it”) and our Espionage Act of 1917, which retained many of the same concepts. All of these laws were written in a way that plainly contradicted basic free speech protections. The Espionage Act was revised in 1950 by the McCarran Internal Security Act, sponsored by Nevada Senator Pat McGarran (who incidentally was said to be the inspiration for the corrupt “Senator Pat Geary” character in The Godfather). The change potentially removed a requirement that the person obtaining classified information had to have intent to harm the country.

There was a way to read the new law that criminalized what the Columbia Law Review back in 1973 (during the Pentagon Papers controversy) called the “mere retention” of classified material. This provision buried in subsection 793 of the Espionage Law has, since passage, been a ticking time bomb for journalism. The law seems clearly to permit the government to prosecute anyone who simply obtains or receives “national defense” information. This would place not only sources who steal and deliver such information at risk of prosecution, but also the journalists who receive and publish it. If the government ever decided to start using this tool to successfully prosecute reporters and publishers, we’d pretty quickly have no reporters and publishers.

I’m not exaggerating when I say virtually every reporter who’s ever done national security reporting has at some time or another looked at, or been told, or actually received copies of, “national defense” information they were technically “not entitled to receive.

Read more …

Britain employs torture. What do its own laws say about that?

The Unrelenting State (Craig Murray)

We are seriously worried about the condition of Julian Assange. He was too unwell to appear in court yesterday, and his Swedish lawyer, Per Samuelson, found him in a state where he was unable to conduct a conversation and give instructions. There are very definite physical symptoms, particularly rapid weight loss, and we are not satisfied that genuine and sufficient diagnostic efforts are being made to determine the underlying cause. Julian had been held for the last year in poor, highly confining and increasingly oppressive conditions in the Ecuadorean Embassy and his health was already deteriorating alarmingly before his expulsion and arrest.

A number of conditions, including dental abcesses, can have very serious consequences if long term untreated, and the continual refusal by the British government and latterly the Ecuadoreans to permit him access to adequate healthcare while a political asylee was a callous denial of basic human rights. I confess to feeling an amount of personal relief after his arrest that at least he would now get proper medical treatment. However there now seems to be no intention to provide that and indeed since he has been in Belmarsh his health problems have accelerated. I witnessed enough of the British state’s complicity in torture to know that this may be more than just the consequence of unintended neglect. That the most lucid man I know is now not capable of having a rational conversation is extremely alarming.

There is no rational reason that Assange needs to be kept in a high security facility for terrorists and violent offenders. We are seeing the motive behind his unprecedented lengthy imprisonment for jumping police bail when he entered political asylum. As a convicted prisoner, Assange can be kept in a worse regime than if he were merely on remand for his extradition proceedings. In particular, his access to his lawyers is extremely restricted and for a man facing major legal proceedings in the UK, USA and Sweden it is impossible, even were he healthy, for his lawyers to have sufficient time with him adequately to prepare his cases while he is under the restrictions placed on a convict. Of course we know from the fact that, within three hours of being dragged from the Ecuadorean Embassy, he was already convicted and sentenced to a lengthy prison term, that the state has no intention that his lawyers should be able to prepare.

Read more …

It’s like hammering in a nail with a pair of scissors.

Trump Announces Tariffs On Mexico Until ‘Immigration Problem Remedied’ (G.)

In a surprise announcement that could compromise a major trade deal, Donald Trump announced on Thursday that he is slapping a 5% tariff on all Mexican imports to pressure the country to do more to crack down on the surge of Central American migrants trying to cross the border. He said the percentage would gradually increase “until the Illegal Immigration problem is remedied”. Trump made the announcement by tweet after telling reporters earlier Thursday that he was planning “a major statement” that would be his “biggest” so far on the border. “On June 10th, the United States will impose a 5% Tariff on all goods coming into our Country from Mexico, until such time as illegal migrants coming through Mexico, and into our Country, STOP. The Tariff will gradually increase until the Illegal Immigration problem is remedied,” he wrote, “at which time the Tariffs will be removed.”


Mexico’s president, Andrés Manuel López Obrador, responded with a two-page letter to Trump on Thursday night. “The Statue of Liberty is not an empty symbol,” he said. “With all due respect, even though you have the right to say it, ‘make America great again’ is a fallacy because, until the end of times, and beyond national borders, universal justice and fraternity should prevail,” he wrote. Amlo, as the president is commonly called, offered his US counterpart history lessons on past periods of cordial US-Mexico relations. He also included details of his plans to develop Central America to stop migration and warned: “I don’t lack courage, I’m not a coward nor timid, rather, I act on principles.”

Read more …

“The only way the S&P 500 doesn’t sink massively today is if Trump rows back on this.”

Futures, Peso Tumble As Trump Unleashes Tariffs On Mexico (ZH)

Update 2: some borderline apocalyptic observations from Bloomberg markets live managing editor, Mark Cudmore who writes the following: “This Mexico tariff news is far worse than even the initial market reaction makes it out to be. The timing is almost immediate. Chaos for both companies and bureaucrats. No time for anyone to prepare or make contingencies. The only way the S&P 500 doesn’t sink massively today is if Trump rows back on this. The U.S. imported almost $350b worth of goods from Mexico in 2018. What makes it even worse again, if possible, is that so many traders were hoping Trump would soon take a more conciliatory trade zone because U.S. stocks have weakened. This is a black swan event for markets and people aren’t even registering. Maybe traders are all hoping there’s some mistake or that this won’t be implemented.”


Update 1: it’s going from bad to worse, with the White House warning that it will hike Mexico tariffs to 25% by October 1, if the border crisis persists, as Trump is activating a scorched earth approach whereby he will “punish” any offshore nation that he believes is transgressing, by imposing tariffs. Meanwhile, moments after Trump’s shock tweet, the Mexican deputy foreign minister Seade said that if President’s threat to impose tariffs is carried out, “it would be disastrous”, and Mexico would “respond strongly”, adding that “we will not remain with out arms folded” before the tariff deadline “to see if it is serious.”

Read more …

“Trade policy and border security are separate issues.”

GOP Senator Grassley Blasts Trump Over Mexico Tariff Threat (Hill)

Senate Finance Committee Chairman Chuck Grassley (R-Iowa) condemned President Trump’s new tariffs on Mexico late Thursday, calling the move a “misuse” of presidential tariff authority and cautioning the levies could derail passage of the United States-Mexico-Canada Agreement (USMCA). “Trade policy and border security are separate issues. This is a misuse of presidential tariff authority and counter to congressional intent,” Grassley said in a statement. The lawmaker cautioned that following through on Trump’s tariff threat “would seriously jeopardize passage of USMCA,” a revision of the North American Free Trade Agreement (NAFTA).


“I support nearly every one of President Trump’s immigration policies, but this is not one of them,” he added. Trump announced he would impose the tariffs to pressure Mexico to stop the flow of migrants into the U.S. via the southern border. [..] Grassley had previously threatened to derail Trump’s central trade achievement over continued steel and aluminum tariffs. Last week, Trump hinted that he had reached a deal to drop those tariffs, paving the way for the USMCA in the Senate.

Read more …

“This is the worst scandal in American history. It’s the worst, at least, since the Civil War.”

Russiagate Is #1 Threat To US National Security – Stephen Cohen (RT)

The systemwide US Russophobia that reached its nadir with Russiagate has created a “catastrophe” for both domestic politics and foreign relations that threatens the future of the American system, professor Stephen Cohen tells RT. War with Russia could easily break out if the US insists on pursuing the policy of “demonization” that birthed Russiagate instead of returning to detente and cooperation, New York University professor emeritus of Russian history Stephen Cohen argues on Chris Hedges’ On Contact. While NATO deliberately antagonized post-Soviet Russia by expanding up to its borders, the US deployed missile defense systems along those borders after scrapping an arms treaty, leaving President Vladimir Putin devoid of “illusions” about the goodwill of the West – but armed with “nuclear missiles that can evade and elude any missile defense system.”


Cohen believes the conspiracy theory – which remains front-page news in US media despite being thoroughly discredited, both by independent investigators and last month by special counsel Robert Mueller’s report – is the work of the CIA and its former director, John Brennan, who are dead set against any kind of cooperation with Russia. Attorney General William Barr, who is investigating the FBI over how the 2016 counterintelligence probe began, should take a look at Brennan and his agency, Cohen says. “If our intelligence services are off the reservation to the point that they can first try to destroy a presidential candidate and then a president…we need to know it,” Cohen says. “This is the worst scandal in American history. It’s the worst, at least, since the Civil War.” And the damage wrought by this “catastrophe” hasn’t stopped at the US border.

Read more …

“We don’t know why we are excluded from the examination but from the very beginning, we see too much politics in it.”

Malaysia PM Wants Evidence To Show Russia Shot Down MH17 (FMT)

The Malaysian government wants strong evidence to show that Russia is responsible for the Malaysia Airlines flight MH17 tragedy in 2014, said Prime Minister Dr Mahathir Mohamad today. He said Malaysia accepted the investigation report of Holland but only up to the point where the plane was brought down by a missile made by Russia. Mahathir said while the government agreed that the plane was brought down by a Russian missile, it cannot be certain that the missile was launched by Russia. “They are accusing Russia but where is the evidence? We know the missile that brought down the plane is a Russian-type missile, but it could also be made in Ukraine. “You need strong evidence to show it was fired by the Russians.

“It could be by the rebels in Ukraine; it could be Ukrainian government because they too have the same missile,” he said during a dialogue and media conference with the Japanese Foreign Correspondents Club (FCCJ) here today. Mahathir said people of Russia are military people and they would know that MH17 is a passenger plane. “I don’t think a very highly disciplined party is responsible for launching the missile,” he said. The prime minister said Malaysia should also be involved in examining the black box as the plane belongs to Malaysia and there were Malaysian passengers. “We may not have the expertise but we can buy the expertise. For some reason, Malaysia was not allowed to check the black box to see what happened.

“We don’t know why we are excluded from the examination but from the very beginning, we see too much politics in it. “The idea was not to find out how this happened but seems to be concentrated on trying to pin it on the Russians. This is not a neutral kind of examination,” said Mahathir. “Had a neutral party examined and made the conclusion, Malaysia is willing to accept the findings but here we have parties with political interests in the matter,” he added.

Read more …

Why is the CEO still in office?

Boeing Admits It ‘Fell Short’ On Safety Alert For 737 (BBC)

Boeing has admitted it “fell short” when it failed to implement a safety alert system on the 737 Max. The aircraft was grounded globally in March after two crashes within months. Boeing boss Dennis Muilenburg said a mistake had been made in the software for a cockpit warning light called an “angle-of-attack (AOA) disagree alert”. He said: “We clearly fell short and the implementation of this angle-of-attack disagree alert was a mistake, right, we did not implement it properly.” In an interview with Norah O’Donnell of CBS News he said Boeing was now fixing the problem.


The alert could have notified pilots and maintenance crews that there was a problem early in the flight. One flight safety expert said if there had been an AOA disagree alert on board the Ethiopian airlines flight it “would have been the very first clue” for the pilots that something was wrong. Chris Brady, a pilot and author of The Boeing 737 Technical Guide said: “I’m fairly confident that the Ethiopian Airlines flight probably would not have crashed if they had had the AOA disagree alert” on the aircraft.

Read more …

“This is getting pretty nutty, when you think about it.”

Yield-Curve Spaghetti (WS)

On Thursday, the US Treasury yield curve sagged further in the middle, producing an ever more beautiful middle-age sag, so to speak, that first started taking shape late last year. The chart shows the yield curves on seven dates. Each line represents the yields from the 1-month yield on the left to the 30-year yield on the right, on that date. The steep green line coming up from the bottom represents the yields on December 14, 2016, when the Fed got serious about rate hikes — the steep slope, with short-term yields a lot lower than long-term yields, is what a yield curve in normal-ish times is supposed to look like. The beautifully sagging red line represents the yields today, May 30. The entire portion of the yield curve from the 3-year yield through the 10-year yield has now dropped by over 1 percentage point since the peak on November 8, 2018.

Some more standouts: The 3-year yield inched down to 2.00%, the lowest since January 2, 2018, forming the low point of the middle-age sag. On Nov 8, it was at 3.05%. The 10-year yield dipped to 2.22%, lowest since Sep 18, 2017, and below 1-year and shorter maturities; but it remains above the 2-year yield and in this cycle has not inverted with the 2-year yield yet. The 1-month yield ticked up to 2.37%, from 2.35% yesterday, which had been the bottom of its range, and as is to be expected, right in the middle of the Fed’s target range for the federal funds rate (2.25% -2.50%). The 6-month yield had been anchored since late October at round 2.5%, with only slight variations. It now too has dropped out of this range and hit 2.38% over the past two days but ticked up to 2.40% today. The 30-year yield dropped to 2.65%, the lowest since Nov 7, 2016. This is getting pretty nutty, when you think about it.

Read more …

AOC should be focusing all her energy on Assange.

Ted Cruz, AOC Agree To Ban Former Congress Members From Becoming Lobbyists (G.)

A conversation on Twitter has led to an unlikely collaboration between the Republican senator Ted Cruz and the Democratic representative Alexandria Ocasio-Cortez to pass legislation targeting lobbying by former members of Congress. The two lawmakers tweeted support of placing restrictions or a potential lifetime ban on former Congress members becoming lobbyists. The conversation began when Ocasio-Cortez tweeted a study from Public Citizen that found 60% of former Congress members had taken jobs influencing federal policy. “If you are a member of Congress and leave, you shouldn’t be allowed to turn right around and leverage your service for a lobbyist check,” she wrote.


Cruz retweeted Ocasio-Cortez, suggesting bipartisan legislation to fight the Washington political “swamp”. The Republican House representative Chip Roy tweeted that he would help Ocasio-Cortez spearhead the effort. She agreed to create a bipartisan team in the House while Cruz forms one in the Senate to write a ban. [..] Previous efforts to prevent lobbying from former congresspeople have been put forth but not passed, including a 2017 bill co-sponsored by the Republican senator Cory Gardner and the Democratic senators Michael Bennet and Al Franken. Also in 2017, Senator Jon Tester of Montana introduced legislation that would ban lawmakers from lobbying their former colleagues until five years after leaving office, but it failed to gain traction.

Read more …

 

 

 

 

 

May 262019
 


Joseph Mallord William Turner Teasing the Donkey 1827

 

So we’re going to do this all over again? Well, not if I can help it. Not that I have much hope that I can, mind you. As the bastions of war chime on, my voice, like so many others, will be drowned out. The military industrial complex knows how to do propaganda, better than anyone. But I’ll try.

Vietnam gave the US its biggest ever defeat, both militarily and morally, and yet mere years after its deeply humiliating withdrawal was put into action, the country was back at sending its promising young boys and girls not to its school systems, but to far away battle fields to be crippled, traumatized and slaughtered.

I know, I know, the UK and France do that too, but few other places do. Russia today uses its troops to defend its territory, China has yet to reveal its intentions. But the intentions of the US have been known ever since WWII ended.

In 1956, president Eisenhower, himself a longtime military man, warned the country upon taking leave of office, of the military-industrial complex that was threatening to take over its government. Less than 10 years later, that’s exactly what the complex did, and it’s never looked back.

And I’m thinking: you never learned anything at all? Not from Ike, not from Vietnam, not from the non-existent Iraqi WMD, and not from Libya or Syria? How is that even possible? Oh wait, I know, because the New York Times, Washington Post, CNN et al is where you get your so-called news. That’s why. Gotcha.

 

Today, May 26 2019, and I’m deeply ashamed to say it, I have two stories, one concerning a speech by VP Mike Pence at West Point, the other from Caitlin Johnstone about a Twitter thread initiated by the US military itself. Pence’s speech is heart breaking in its ignorance of US history, Caitlin’s is heart wrenching in its acknowledgment of that same history, and what it does to young Americans.

Now, I think this is not about Trump, as many will undoubtedly claim, it’s about Trump and Pelosi and Pence and McCain and Bolton and Hillary and Pompeo and Obama and all of the people hanging around both administrations. Let’s see what YOU think.

Pence To West Point Grads: You Will Fight On a Battlefield for America at Some Point in Your Life

Vice President Mike Pence told the graduating class of the West Point Military Academy on Saturday that the world is “a dangerous place” and they should expect to see combat. “Men and women of West Point, no matter where you’re deployed, you will be the vanguard of freedom, and you know that the “soldier does not bear the sword in vain.” The work you do has never been more important. America will always seek peace, but peace comes through strength. And you are now that strength. It is a virtual certainty that you will fight on a battlefield for America at some point in your life. You will lead soldiers in combat. It will happen.


Some of you will join the fight against radical Islamic terrorists in Afghanistan and Iraq. Some of you will join the fight on the Korean Peninsula and in the Indo-Pacific, where North Korea continues to threaten the peace, and an increasingly militarized China challenges our presence in the region. Some of you will join the fight in Europe, where an aggressive Russia seeks to redraw international boundaries by force. And some of you may even be called upon to serve in this hemisphere. And when that day comes, I know you will move to the sound of the guns and do your duty, and you will fight, and you will win. The American people expect nothing less.”

Mike Pence is a very dangerous person. He’s planning to send American children into endless wars once again, 45-odd years after Vietnam and 20-odd years after Iraq. And there’s no-one left to stop him, other than Trump, Not exactly a solid guarantee. The Democrats will cheer this on, and their media will too. They always have.

Now, I’m not old enough to remember the whole story of the US involvement in Vietnam, but I do recall this 1985 video from Paul Hardcastle, which stated that the average age of the US soldier in Vietnam -towards the end- was 19. I have also seen Coppola’s movie “Apocalypse Now”, and many others, and yes, I’m wondering where today’s versions of these movies are.

 

 

Because, you know, when I read the Twitter thread picked up by Caitlin Johnstone listing what was supposed to be a promo thing from the army, my heart sinks and hurts and in the end is downright defeated. It’s like reading the accounts from Vietnam, and nothing has changed in 50+ years. How can that be? Says innocent me.

But religious nut Mike Pence has the guts to present this as some sort of heroic thing. For young Americans to go die in a desert for nothing at all other than Exxon’s access to oil and the profits of Boeing and Raytheon. And of course they’ve been setting this up for decades, that young kids -certainly blacks- who have no shot at a proper education, can get one only if they agree to become cannon fodder.

That’s ‘Nam, guys, that’s the 1960’s, history. And just look at how terribly that failed. Well, Mike Pence would like to repeat that failure.

The US Army Asked Twitter How Service Has Impacted People. The Answers Were Gut-Wrenching.

After posting a video of a young recruit talking to the camera about how service allows him to better himself “as a man and a warrior”, the US Army tweeted, “How has serving impacted you?” As of this writing, the post has over 5,300 responses. Most of them are heartbreaking. “My daughter was raped while in the army,” said one responder. “They took her to the hospital where an all male staff tried to convince her to give the guy a break because it would ruin his life. She persisted. Wouldn’t back down. Did a tour in Iraq. Now suffers from PTSD.”

“I’ve had the same nightmare almost every night for the past 15 years,” said another. Tweet after tweet after tweet, people used the opportunity that the Army had inadvertently given them to describe how they or their loved one had been chewed up and spit out by a war machine that never cared about them. This article exists solely to document a few of the things that have been posted in that space, partly to help spread public awareness and partly in case the thread gets deleted in the interests of “national security”.

 

“my grandpa served in vietnam from when he was 18–25. he’s 70 now and every night he still has nightmares where he stands up tugging at the curtains or banging on the walls screaming at the top of his lungs for someone to help him. he refuses to talk about his time and when you mention anything about the war to him his face goes white and he has a panic attack. he cries almost every day and night and had to spend 10 years in a psychiatric facility for suicidal ideations from what he saw there.”

 

“My best friend joined the Army straight out of high school because his family was poor & he wanted a college education. He served his time & then some. Just as he was ready to retire he was sent to Iraq. You guys sent him back in a box. It destroyed his children.”

 

“My best friend from high school was denied his mental health treatment and forced to return to a third tour in Iraq, despite having such deep trauma that he could barely function. He took a handful of sleeping pills and shot himself in the head two weeks before deploying.”

If you got the stomach for it, guys, do read it. But I got to tell you, I find it hard.

The US killed millions of people and maimed ten times that in Vietnam, and that very much includes its own young and promising American citizens, and they did it again in Iraq. Mike Pence wants to repeat that in Iran and other theaters. Supported by Pelosi, Pompeo, Schumer, Bolton etc. Shame for them John McCain passed.

There’s only one US presidential candidate who’s explicitly spoken out against this mad repeat of Vietnam, and that’s Tulsi Gabbard, who actually “served” in Iraq. So she will be pushed aside by the DNC. Who are funded by the military industrial complex, don’t you know. Must serve the machine. We have a long way to go.

I always thought that Springsteen talking about Vietnam from Born In The USA is sort of like a haiku, encompassing the essence in just a few words, even if he doesn’t catch all the misery and bloodshed and mental anguish and broken lives and all of it (but how could you?):

 

I had a brother at Khe San;

Fighting off the Viet Cong

They’re still there, he’s all gone

He had a woman he loved in Saigon

I got a picture of him in her arms now

 

I know people older than me have many more examples of this and from the time when the ‘war’ was actually ongoing. Eve of Destruction? Creedence? Please send suggestions.

But also, please recognize the similarities in the madness then and now.

And let’s try and make it stop.

Let’s try and stop history from even rhyming, let alone repeating.

Nassim Taleb likes to point out that in olden days those who declared wars would also be first in line to fight them. By design. The fair thing to do.

Let’s send Mike Pence and Nancy Pelosi and Donald Trump and Chuck Schumer and Mike Pompeo and John Bolton and all of their families into Iran first. And then we can talk.

 

 

 

 

 

May 262019
 
 May 26, 2019  Posted by at 9:45 am Finance Tagged with: , , , , , , , , , , , ,  


 

Pence To West Point Grads: You Will Fight On a Battlefield for America (Taer)
Global Elites Started The Russia Nonsense (Farnan)
Indictment of Julian Assange is a Clear and Present Danger to Journalism (EFF)
The US Media Is in the Crosshairs of the New Assange Indictment (Lawfare)
The World: What is Really Happening (Murray)
Europeans Vote, With EU Future In Balance (R.)
Who Gets To Choose The UK’s Next Prime Minister? (BBC)
Elon Musk Confronts The “Bear Case” (VF)
You Will Probably Never Want To Eat GMO Food Again (Snyder)
Glyphosate Exposure Linked to Fatty Liver Disease in Humans (BP)

 

 

He’s ordering the body bags as we speak. And you thought Trump was crazy.

Pence To West Point Grads: You Will Fight On a Battlefield for America (Taer)

Vice President Mike Pence told the graduating class of the West Point Military Academy on Saturday that the world is “a dangerous place” and they should expect to see combat. “Men and women of West Point, no matter where you’re deployed, you will be the vanguard of freedom, and you know that the “soldier does not bear the sword in vain.” The work you do has never been more important. America will always seek peace, but peace comes through strength. And you are now that strength. It is a virtual certainty that you will fight on a battlefield for America at some point in your life. You will lead soldiers in combat. It will happen.


Some of you will join the fight against radical Islamic terrorists in Afghanistan and Iraq. Some of you will join the fight on the Korean Peninsula and in the Indo-Pacific, where North Korea continues to threaten the peace, and an increasingly militarized China challenges our presence in the region. Some of you will join the fight in Europe, where an aggressive Russia seeks to redraw international boundaries by force. And some of you may even be called upon to serve in this hemisphere. And when that day comes, I know you will move to the sound of the guns and do your duty, and you will fight, and you will win. The American people expect nothing less.”

Read more …

We’re going to hear a lot about this.

Global Elites Started The Russia Nonsense (Farnan)

Attorney General William Barr has turned the attention of the Russia probe to its origin: who started this and why? The answer, as in all the best crime dramas, is probably hiding in plain sight. On July 13, 2016, British academic Dr. Andrew Foxall penned an op-ed in the New York Times, “Why Putin Loves Brexit.” He blamed Russia for the previous month’s Brexit vote, adding in a little noted aside: The United States is so concerned over Moscow’s determination to exploit European disunity that in January, James R. Clapper Jr., the director of national intelligence, began a review of Russia’s clandestine funding of European parties. Bingo! The Obama administration was spying on conservative European political parties.

Which means, almost necessarily under the Five Eyes Agreement, foreign agents were returning the favor and spying on the Trump campaign. On August 11, 2018, I wrote: The British aristocracy has a condescending view of the hoi polloi who voted for Brexit, regarding them as easily manipulated Pygmalion-like by smarter people. They assumed Vladimir Putin was somehow playing Professor Henry Higgins to the flower girls who voted to reject the EU, because that’s how they see the world. Among the Cambridge class, this simple prejudice renders Russian collusion a first principle with no need for supporting evidence…. Without supporting evidence to prove their fantastical worldview, the global elite set out to manufacture some.

First up was Christopher Steele, who hasn’t set foot in Russia since 2009. He wears as a badge the claim that Putin hates him which, if true, means he has no real Russian sources. Maybe because of that, Steele’s farcical dossier on Trump was not enough for the FBI to open an investigation, and these international men of mystery needed something more. They invited George Papadopoulos to London, used a Maltese asset disguised as a Russian agent – Joseph Mifsud – to feed him a whopper about Hillary Clinton’s emails, then claimed he repeated the lie to Andrew Downer, an Australian diplomat with ties to the Clinton Foundation. That was the final straw that caused lovestruck counterintelligence specialist Peter Strzok to open an FBI investigation into the Trump campaign ..

[..] the FBI delegated the inspection of the computer servers to CrowdStrike, an insider paid by the DNC. James Comey testified to the Senate Intelligence Committee in January 2017 that CrowdStrike was “a highly respected private company.” What he failed to mention was that a month before his testimony, CrowdStrike had been caught falsely blaming Russia for a hack into a Ukrainian artillery computer app. In other words, at the same time this “highly respected private company” was blaming the Russians for stealing the Clinton campaign’s emails, it was fabricating a different Russian hack to serve Ukrainian misinformation.

Read more …

“The press stands in place of the public in holding the government accountable..”

This is the essence. And it’s not what the press has been doing. Other than WikiLeaks, that is.

Indictment of Julian Assange is a Clear and Present Danger to Journalism (EFF)

The century-old tradition that the Espionage Act not be used against journalistic activities has now been broken. Seventeen new charges were filed yesterday against Wikileaks founder Julian Assange. These new charges make clear that he is being prosecuted for basic journalistic tasks, including being openly available to receive leaked information, expressing interest in publishing information regarding certain otherwise secret operations of government, and then disseminating newsworthy information to the public. The government has now dropped the charade that this prosecution is only about hacking or helping in hacking. Regardless of whether Assange himself is labeled a “journalist,” the indictment targets routine journalistic practices.

But the indictment is also a challenge to fundamental principles of freedom of speech. As the Supreme Court has explained, every person has the right to disseminate truthful information pertaining to matters of public interest, even if that information was obtained by someone else illegally. The indictment purports to evade this protection by repeatedly alleging that Assange simply “encouraged” his sources to provide information to him. This places a fundamental free speech right on uncertain and ambiguous footing. Make no mistake, this not just about Assange or Wikileaks—this is a threat to all journalism, and the public interest. The press stands in place of the public in holding the government accountable, and the Assange charges threaten that critical role.

The charges threaten reporters who communicate with and knowingly obtain information of public interest from sources and whistleblowers, or publish that information, by sending a clear signal that they can be charged with spying simply for doing their jobs.

Read more …

As if the US media doesn’t self-censor enough yet.

The US Media Is in the Crosshairs of the New Assange Indictment (Lawfare)

As Susan Hennessey said, “[I]t will be very difficult to craft an Espionage Act case against him that won’t adversely impact true journalists.” I don’t think this is an accident. I think the government’s indictment has the U.S. news media squarely in its sights. The first sentence of the indictment reads: “To obtain information to release on the WikiLeaks website, ASSANGE encouraged sources to (i) circumvent legal safeguards on information; (ii) provide that protected information to WikiLeaks for public dissemination; and (iii) continue the pattern of illegally procuring and providing protected information to WikiLeaks for distribution to the public.”

This is exactly what national security reporters and their news publications often ask government officials or contractors to do. Anytime a reporter asks to receive information knowing it is classified, that person encourages sources to circumvent legal safeguards on information. The news organizations’ encouragement is underscored by the mechanisms they provide for sources to convey information securely and anonymously. (The New York Times’s menu includes SecureDrop, an “encrypted submission system set up by The Times [that] uses the Tor anonymity software to protect [the] identity, location and the information” of the person who sends it.) Like WikiLeaks, these reporters and organizations encourage the sources to provide the “protected information” for public dissemination. And also like WikiLeaks, they often encourage the sources to engage in a “pattern of illegally procuring and providing protected information.”

There are other similarities. The government thought it significant that the WikiLeaks website states: “WikiLeaks accepts classified, censored, or otherwise restricted material of political, diplomatic, or ethical significance” (emphasis in indictment). This sounds very much like the public interest standard that U.S. editors use to decide when and how to publish classified information. Former Washington Post Executive Editor Leonard Downie once told me, “‘Highly classified’ doesn’t mean anything to me …. The question is, is it important for the American public to know that its government is acting in its name in this particular way?” Or as the Times’s former executive editor once said, “As journalists in a robust democracy, our responsibility is to publish information of interest to the public, and that includes publishing secrets when we find them.”

Read more …

“..the OPCW was manipulated by the NATO powers to produce a highly biased report that omits the findings of its own engineers.”

The World: What is Really Happening (Murray)

[..] the OPCW Fact Finding Mission reflected in their final report none of the findings of their own sub-group of university based engineers from two European universities, but instead produced something that is very close to the amateur propaganda “analysis” put out by Bellingcat. The implications of this fraud are mind-blowing. The genuine experts’ findings were completely suppressed until they were leaked last week. And still then, this leak – which has the most profound ramifications – has in itself been almost completely suppressed by the mainstream media, except for those marginalised outliers who still manage to get a platform, Robert Fisk and Peter Hitchens (a tiny platform in the case of Fisk).


Consider what this tells us. A fake chemical attack incident was used to justify military aggression against Syria by the USA, UK and France. The entire western mainstream media promoted the anti-Syrian and anti-Russian narrative to justify that attack. The supposedly neutral international watchdog, the OPCW, was manipulated by the NATO powers to produce a highly biased report that omits the findings of its own engineers. Which can only call into doubt the neutrality and reliability of the OPCW in its findings on the Skripals too. There has been virtually no media reporting of the scandalous cover-up. This really does tell you a very great deal more about how the Western world works than the vicissitudes of the ludicrously over-promoted Theresa May and her tears of self pity.

Read more …

Fragmentation is the key word. But the big power blocks will remain, courtesy of the EU structure. Salvini’s Lega may become the largest single party in Europe, but the real power lies in those blocks.

Europeans Vote, With EU Future In Balance (R.)

Europeans vote on Sunday in an election expected to further dent traditional pro-EU parties and bolster the nationalist fringe in the European Parliament, putting a potential brake on collective action in economic and foreign policy. Polls opened at 7 a.m. (0400 GMT) in the east of the bloc and will finally close at 11 p.m. (2100 GMT) in Italy. Seven states have already voted, with 21 joining in on Sunday in what is the world’s biggest democratic exercise after India. Right-wing populists top opinion polls in two of the big four member states – Italy and supposedly exiting Britain – and could also win in a third, France, rattling a pro-Union campaign championed by centrist President Emmanuel Macron.

However, exit polls in some countries that have already voted have given pro-EU parties some comfort. The Dutch Labour party, all but written off, looks to have finished first, helped by the visibility of having the EU socialists’ lead candidate, current EU deputy chief executive Frans Timmermans. In the Netherlands pro-Union parties scored 70%, up three points on the last European Parliament vote in 2014, and left the upstart anti-immigration party of Thierry Baudet fourth on 11%. The Dutch also turned out in bigger numbers, albeit at just 41%, reinforcing hopes in Brussels of reversing a 40-year trend of declining turnout that critics cite as a “democratic deficit” that undermines the legitimacy of European Union lawmaking.

An exit poll after Friday’s vote in deeply pro-EU Ireland pointed to an expected “Green Wave”. Across the bloc, concerns about climate change and the environment may bolster the pro-EU Greens group and could mean tighter regulations for industry and for the terms the EU may set for partners seeking trade accords. Britain also voted on Thursday and a new party focused on getting out of the EU was forecast by pre-vote opinion polls to come top, but there has been no exit poll data. Attention there has focused on the resignation of Prime Minister Theresa May. Results will be out late on Sunday, when all countries have voted.

[..] Matteo Salvini’s League in Italy may pip the Christian Democrats of German Chancellor Angela Merkel, the bloc’s power broker, to become the biggest single party in the 751-seat chamber. Right-wing ruling parties in Poland and Hungary, defying Brussels over curbs to judicial and media independence, will also return eurosceptic lawmakers on Sunday.

Read more …

Grandma does.

Who Gets To Choose The UK’s Next Prime Minister? (BBC)

With Theresa May finally on her way out of Downing Street, a Tory leadership contest that has been bubbling under for months is now starting. It’s a two-stage process. The first sees votes among Conservative MPs designed to whittle the contenders down to just two front-runners. The second stage sees the party’s grassroots members choose between them in a postal ballot. In other words, it is members of the public – those who pay £25 a year to join the Conservative Party – who get the final say on who the next prime minister is. There will not be a general election because the party is already in power. So, who are its members and what do they think on key issues, not least of course Brexit?

We don’t know exactly how many Conservative Party members there are because – unlike the UK’s other parties – the Conservatives don’t regularly release the figures. The last time they did so was back in March 2018, when they put the figure at 124,000. That’s larger than some of the more pessimistic guesstimates, but way down on the peak of nearly three million that the party boasted in the early 1950s. Membership plunged after that before levelling off at around one million in the 1970s and 1980s, since when it has been dropping almost inexorably. One thing we can be sure of, however, is that the Tories have far fewer members than the Labour Party. Even if we assume that Labour’s membership has fallen from the late 2017 peak of more than 550,000, it still has a huge advantage over the Conservatives when it comes to campaigning on the ground.


[..] What Tory members haven’t cooled on, however, is Brexit. Indeed, since we started tracking them in 2015, they’ve hardened their position. It is clear that they are not supporters of the deal negotiated by their outgoing leader. In fact, it is now the case that fully two-thirds of them back a no-deal Brexit – an outcome supported by only a quarter of voters as a whole. Nor are they in the least bit keen on the idea of letting the public have another say on the UK’s EU membership. Some 84% of them oppose the idea of a new referendum on the issue. In short, the grassroots aren’t simply sceptical on Europe; they can’t wait to leave, whatever that might take. This, then, is the Conservative Party electorate. And those MPs hoping to succeed Mrs May will need to pitch their promises accordingly.

Read more …

Bubble. Tesla is brought to you by the Fed.

Elon Musk Confronts The “Bear Case” (VF)

Don’t say “death spiral,” but Tesla has unquestionably entered a perilous new era. Last September, a month after Elon Musk’s notorious “funding secured” tweet, I wrote a New York Times opinion piece about the fact that the real problem at Tesla, Musk’s electric-car company, was not necessarily Musk’s irresponsible, and perhaps illegal, behavior as C.E.O. Rather, it was the Tesla balance sheet, which was larded with $11 billion in debt, some $1.7 billion of which needed to be paid off before November 2019. Debt isn’t necessarily a bad thing. But when a company doesn’t have the operating earnings to service that debt, a single dollar of debt can be too much. And then it becomes more like a Ponzi scheme, which, to be honest, Tesla is increasingly resembling.


Can Tesla convince investors to give it enough new capital to pay off the maturing debt before the world concludes that the company doesn’t have the resources to meet its obligations as they become due? That, of course, is the textbook definition of a bankrupt company. When I last wrote about Tesla, the company’s stock was trading at $300 per share, giving Tesla a market capitalization of around $51 billion. Nowadays, Tesla’s stock is trading around $190 per share and the company is valued at around $34 billion. That’s a loss of a cool $17 billion for equity investors, in eight months. In November, Tesla repaid $230 million of convertible debt with some of its cash pile instead of converting the debt to equity because its stock price was well below the conversion price. In March, Tesla paid off another $920 million in convertible notes in cash, again because its stock price was below the conversion price.

Read more …

..eating a corn chip produced from Bt corn might transform our intestinal bacteria into living pesticide factories, possibly for the rest of our lives.”

You Will Probably Never Want To Eat GMO Food Again (Snyder)

In recent years, researchers have been pushing the boundaries of biology in order to come up with new “plant-based” alternatives to existing food products. Essentially, “synthetic biology” is being used “to create life forms from scratch”… Impossible’s “bleeding” veggie burger, shrimp made of algae, and vegan cheeses that melt are all making their way into restaurants and on to supermarket shelves, offering consumers a new generation of plant-based proteins that look, act, and taste far more like the real thing than ever before. What consumers may not realize, however, is that many of these new foods are made using synthetic biology, an emerging science that applies principles of genetic engineering to create life forms from scratch.

[..] “GM corn and cotton are engineered to produce their own built-in pesticide in every cell. When bugs bite the plant, the poison splits open their stomach and kills them. Biotech companies claim that the pesticide, called Bt — produced from soil bacteria Bacillus thuringiensis’ has a history of safe use, since organic farmers and others use Bt bacteria spray for natural insect control. Genetic engineers insert Bt genes into corn and cotton, so the plants do the killing.” The Bt-toxin produced in GM plants, however, is thousands of times more concentrated than natural Bt spray, is designed to be more toxic, has properties of an allergen, and unlike the spray, cannot be washed off the plant.” Do you think that it is actually safe to eat such “food”?

Sadly, the health consequences from eating GMO food may not just be temporary. In fact, one study found that the effects of eating genetically-modified food could last for a lot longer that anyone had anticipated… “The only published human feeding study revealed what may be the most dangerous problem from GM foods. The gene inserted into GM soy transfers into the DNA of bacteria living inside our intestines and continues to function. This means that long after we stop eating GMOs, we may still have potentially harmful GM proteins produced continuously inside of us. Put more plainly, eating a corn chip produced from Bt corn might transform our intestinal bacteria into living pesticide factories, possibly for the rest of our lives.”

Read more …

Without the precautionary principle, it’s certain that we will poison our children and not realize it until it’s too late.

Glyphosate Exposure Linked to Fatty Liver Disease in Humans (BP)

Glyphosate weed killers may be contributing to the growing worldwide epidemic f non-alcoholic fatty liver disease (NAFLD), a condition that causes swelling of the liver, and can eventually lead to cirrhosis, cancer, or liver failure. Researchers at the University of California (UC) San Diego found that higher levels of glyphosate detected in urine corresponded significantly with individuals that have also been diagnosed with NAFLD. Advocates are urging lawmakers at every level to respond to the accumulating science on the danger of glyphosate herbicides, ban their use, and adopt policy changes that put into place organic land management practices.


“There have been a handful of studies, all of which we cited in our paper, where animals either were or weren’t fed Roundup or glyphosate directly, and they all point to the same thing: the development of liver pathology,” said Paul J. Mills, PhD, professor and chief in the Department of Family Medicine and Public Health at UC San Diego School of Medicine in a press release. [..] With glyphosate still the most popular herbicide used in the U.S., exposure to the chemical is alarmingly widespread. “The increasing levels [of glyphosate] in people’s urine very much correlates to the consumption of Roundup [glyphosate] treated crops into our diet,” said Dr. Mills. He cautions that the results need further follow up, and there may be other pesticides in the environment leading to similar disease outcomes. “There are so many synthetic chemicals we are regularly exposed to,” Dr. Miller notes. “We measured just one.”

Read more …

 

Sometimes you will never know the value of a moment, until it’s a memory.
– Dr. Seuss

 

 

 

 

May 252019
 
 May 25, 2019  Posted by at 10:24 am Finance Tagged with: , , , , , , , ,  


 

What Assange Charges Could Mean For Press Freedom (Jonathan Turley)
A Threat to the Press and the American People (IC)
Professional #Assange Smearers Finally Realize His Fate Is Tied To Theirs (CJ)
The Belligerence of Empire (Orphan)
Australian Government Urged To Intervene In Assange Case (G.)
Trump Wants Investigation Into Australia’s Role In ‘Russian Hoax’ (G.)
The Golem Strikes Back (Kunstler)
Political Media Is a Hucksters’ Paradise (Taibbi)
Trump Declares Emergency To Expedite Arms Sales To Saudi Arabia And UAE (CNN)
For The First Time Ever, China Takes Over An Insolvent Bank (ZH)
EU Fraud Watchdog Considering Nigel Farage Investigation (G.)
We’ve Created A Civilisation Hell Bent On Destroying Itself (C.)

 

 

Hundreds of assessments of what the Assange charges mean. Turley’s not a bad place to start.

What Assange Charges Could Mean For Press Freedom (Jonathan Turley)

For over a decade, there has been a raging debate over precisely what Julian Assange is – whistleblower, journalist, or spy. Now that question will have to be answered after the United States hit him with 17 new counts under the Espionage Act for receiving and publishing information from Army intelligence analyst Chelsea Manning. The Trump administration has now crossed the line that many counselled it to avoid – and may have triggered the most important press freedom case in the US in 300 years. While the status of Assange has long been hotly debated, his actions in publishing classified information on Wikileaks is a common component of journalism. Indeed, the most celebrated cases in history – such as the failed attempts to stop the release of the Pentagon Papers in 1971 – were based on the publications of classified evidence.

Assange’s supporters note that his publications revealed alleged war crimes in places like Afghanistan and Iraq that were unlikely to have been exposed otherwise. If it was a crime for Assange to receive and publish such information, much of the journalism in the US would become a de facto criminal enterprise. In April, the government avoided this threshold question by charging Assange with a single count of conspiracy to commit computer intrusion. The charge related to helping Manning obtain access to defence department computers in 2010. In doing so, the justice department stayed clear of charging him as a publisher as opposed to an intruder. That is until Thursday.

The charges were brought under the controversial Espionage Act of 1917. Passed after World War One, it was used to target anti-war activists and political dissidents. The law has long been denounced as unconstitutional in its criminalising of receiving and publishing classified information. It is no surprise that the justice department had to use this much-ridiculed law to achieve this ignoble goal. Counts nine through 17 against Assange concern the publications of “national defence information.” The justice department takes pains to try to argue that Assange is not a journalist and that the publication counts concern the disclosure of not just classified information but the actual names of intelligence sources. That however may establish that Assange is a poor journalist, but a journalist all the same.

Read more …

Everybody does what WikiLeaks does. Just not as successful.

A Threat to the Press and the American People (IC)

The indictment says that Assange and WikiLeaks “repeatedly sought, obtained, and disseminated information that the United States classified due to the serious risk that unauthorized disclosure could harm the national security of the United States.” That is almost a textbook definition of the job of a reporter covering national security at a major news organization. Take a look at the tips pages of most news outlets, and you’ll see a remarkable similarity between what journalists ask for and what WikiLeaks sought. The indictment goes on to say that “WikiLeaks’s website explicitly solicited censored, otherwise restricted, and until September 2010, ‘classified’ materials.”


Today, virtually every major news organization has a similar secure drop box where sources can provide information anonymously. WikiLeaks popularized that technique for soliciting anonymous leaks, but it is now common journalistic practice. “Assange personally and publicly promoted WikiLeaks to encourage those with access to protected information, including classified information, to provide it to WikiLeaks for public disclosure,” the indictment says. Nearly every national security reporter goes on television, gives speeches, or launches book tours to promote their work and hopefully obtain new sources. All of this raises an obvious question: If the government can charge Assange for conspiring to obtain leaked documents, what would stop it from charging the CIA beat reporter at the New York Times for committing the same crime?

Read more …

Rachel Maddow is a giant blemish on our world.

Professional #Assange Smearers Finally Realize His Fate Is Tied To Theirs (CJ)

“And, you know, I know you,” Maddow continued, pointing to the camera. “Given everything else that we know about the WikiLeaks guy, I can feel through the television right now your mixed feelings about what I am saying. I can feel what may be, perhaps, a certain lack of concern about Julian Assange’s ultimate fate, given his own gleeful and extensive personal role in trying to help a hostile foreign government interfere in our election in order to install their chosen president with WikiLeaks’ help. Okay? I know. Okay, I feel ya. I got it. But, it is a recurring theme in history, heck, it is a recurring theme in the Bible, that they always pick the least sympathetic figures to try this stuff on first.

Despite anyone’s feelings about this spectacularly unsympathetic character at the center of this international drama, you are going to see every journalistic institution in this country, every First Amendment supporter in this country, left, right and center, swallow their feelings about this particular human and denounce what the Trump administration is trying to do here. Because it would fundamentally change the United States of America.” Wow. Make no mistake, this is a hugely significant development. This isn’t just some columnist for the New York Times or the Guardian, this is Rachel effing Maddow, the Queen Mother of all tinfoil pussyhat-wearing Russiagate insanity.

This same pundit was just a couple of months ago not just smearing but outright lying about Assange, deceitfully telling her audience that the new legal rings closing around Assange were about his 2016 publications then instructing viewers not to Google anything about it because they’ll get computer viruses. Now that she’s recognized that this could actually hurt her and her network directly, she’s finally feeding her audience a different narrative out of sheer enlightened self-interest.

Read more …

Violence is the sole language of empire.

The Belligerence of Empire (Orphan)

Violence is the sole language of empire. It is this only currency it uses to enforce its precepts and edicts, both at home and abroad. Eventually this language becomes internalized within the psyche of the subjects. Social and cultural conditioning maintained through constant subtle messaging via mass media begins to mold the public will toward that of authoritarian conformity. The American Empire is emblematic of this process. There is mass compliance to the dictates of the ruling class and this occurs most often without any prompting or debate whatsoever. In this dictatorship of money the poor are looked at with ridicule and contempt, and are often punished legally for their imposed poverty.

But the social conditioning of the American public has led toward a bizarre allegiance to its ruling class oppressors. Propaganda still works here and most are still besotted with the notion of America being a bastion of “freedom and democracy.” The growing gap between the ultra-wealthy and the poor and the gutting of civil liberties are ignored. And blind devotion is especially so when it comes to US foreign policy. Most Americans still believe they live in the greatest country on the planet. They believe the American military to be noble and that they always reluctantly go into or are forced into war. Indeed, both the Democrats and Republicans possess an uncanny ability to bridge their ideological distances when it comes to defending US militarism, the Pentagon and the war machine of imperialism.

But this is tied to the defense of capitalism, the ruling class, and the ultimate reason for war: the protection of that class’s global capital investments. The persecution of Chelsea Manning, much like the case of Julian Assange, is demonstrative of this. It is a crusade against truth tellers that has been applauded from both sides of the American establishment, liberal and conservative alike. It does not matter that she helped to expose American war crimes. On the contrary, this is seen as heresy to the Empire itself. Manning’s crime was exposing the underbelly of the beast. A war machine which targeted and killed civilians and journalists by soldiers behind a glowing screen thousands of miles away, as if they were playing a video game.

Read more …

They would have already if they wanted.

Australian Government Urged To Intervene In Assange Case (G.)

The Australian film-maker who spent 15-months in a Cambodian jail on spying charges says he fears Julian Assange is being used as an “example” to other journalists as part of what he described as “a fundamental attack on the fourth estate”. James Ricketson spent more than a year inside the overcrowded Prey Sar prison in Phnom Penh on spying charges before his release last September after a public outcry and lobbying by the Australian government. On Friday he told Guardian Australia he hoped the Morrison government would make “a forthright public statement” in support of Assange and the principle of press freedom.


“I would like to think the Australian government is woking in the background to forge some kind of resolution that is fair and equitable in the Julian Assange case,” he said. “Although it was not clear to me at the time, it’s now clear that from at least January last year there were fairly high-level representations being made to the Cambodian government on my behalf. “The government had its own reasons for why it needed to keep that secret [but] it would certainly be nice if it were to make a public statement to the effect that we’re concerned about the fate of Julian Assange and the impact of this extradition attempt on investigative journalism in Australia and worldwide.”

Read more …

Talking about Australia…

Trump Wants Investigation Into Australia’s Role In ‘Russian Hoax’ (G.)

Donald Trump has said he wants Australia’s role in setting off the FBI inquiry into links between Russia and his election campaign examined by the US attorney general, William Barr. It is a potentially explosive development for the historically solid US-Australian alliance and the first time Trump has publicly named Australia while discussing what he calls the “Russia hoax” and “witch hunt”. A spokesman for Marise Payne, Australia’s foreign affairs minister, responded to the comments on Saturday by saying: “Australia and the United States are the closest of allies.” “The government has not commented on these matters and doing so could prejudice any ongoing investigation,” he said.

Trump said he had declassified “potentially millions of pages” of intelligence documents related to surveillance activities on his campaign and Barr would be in charge of analysing it. “So what I’ve done is I’ve declassified everything,” Trump told reporters at the White House on Friday before leaving on a trip to Japan. “He can look and I hope he looks at the UK and I hope he looks at Australia and I hope he looks at Ukraine. “I hope he looks at everything, because there was a hoax that was perpetrated on our country.” Trump’s former campaign aide George Papadopoulos has claimed that Australia’s former high commissioner to the UK, Alexander Downer, spied on him during a meeting at a London bar in May 2016.

Downer has rejected this, but said that during the meeting Papadopoulos had told him Russia had damaging material on Trump’s presidential rival, Hillary Clinton. In an interview with the ABC’s Matt Bevan, Downer said Papadopoulos told him during the meeting he was confident Trump would win the election because the Russians had some information on Clinton which could be damaging to her if released. Downer then passed this information on to Canberra. Papadopoulos denies he ever mentioned Russia and Clinton during the meeting.

Read more …

“..the US Intel “community” trafficked in fictitious malarkey supplied by Mrs. Clinton..”

The Golem Strikes Back (Kunstler)

There’s perhaps a lot to dislike about Donald J. Trump, US President No. 45. Despite all the grooming and tailoring, there’s little savoir faire there. He tweets not like a mellifluous songbird, but in snorts like a rooting aardvark. His every predilection is an affront to the refined Washington establishment: his dark business history, his beloved ormolu trappings, his Mickey-D cheeseburgers, the mystifying hair-doo. Even so, the bad faith of his antagonists exceeds even Mr. Trump’s defects and vices. The plot they concocted to get rid of him failed. And, yes, it was a plot, even a coup. And they fucked it up magnificently, leaving a paper trail as wide as Interstate-95.

Now all that paper is about to fall over the District of Columbia like radioactive ash, turning many current and former denizens of rogue agencies into the walking dead as they embark on the dismal journey between the grand juries and the federal prisons. Hence, the desperate rage of the impeachment faction, in direct proportion to their secret shameful knowledge that the entire RussiaGate melodrama was, in fact, a seditious subterfuge between the Hillary Clinton campaign and a great many key figures in government up-to-and-including former president Barack Obama, who could not have failed to be clued-in on all the action. Even before the declassification order, the true narrative of events has been plainly understood: that the US Intel “community” trafficked in fictitious malarkey supplied by Mrs. Clinton to illegally “meddle” in the 2016 election.

[..] The evidence already public indicates that Robert Mueller must have known as early as the date of his appointment (and likely before) that the predicating evidence for his inquiry was false. After all, his lead prosecutor, Andrew Weissmann, was informed of that in no uncertain terms by Deputy Attorney General Bruce Ohr in 2016. Justice may seek to know why Mr. Mueller did not inform the target of his inquiry that this was so. The answer to that may be that Mr. Mueller’s true mission was to disable Mr. Trump as long as possible while setting an obstruction of justice trap — which also failed tactically.

Read more …

“..Democratic organizers realized they’d come within a hair’s breadth of printing bumper stickers and posters for an unraveling one-man Enron.”

Political Media Is a Hucksters’ Paradise (Taibbi)

Avenatti became an instant celebrity after he filed a lawsuit seeking to void the non-disclosure agreement between Trump and Daniels, in which she received a $130,000 payoff to be quiet about what she would later call “the least impressive sex I ever had.” In that, Avenatti had something cable television wanted more than anyone ever wanted anything: details about the president’s “smaller than average” tackle and Daniels’ tale of “getting fucked by a guy with Yeti pubes and a dick like the mushroom character in Mario Kart.” Avenatti leveraged being the gatekeeper of this story into daily TV appearances, where he quickly became a political figure in his own right, someone who would play the Democrats’ bare-knuckle answer to Trump.

By last summer in Iowa, he was already giving speeches as a presidential hopeful. CNN gushed: “Cribbing but amending Obama, Avenatti added, “When they go low, I say, we hit harder…” Whether by calling Michael Cohen a “thug,” or demanding an “immediate indictment” over the hush money issue, Avenatti could be counted on to take the maximally aggressive posture. Media figures couldn’t praise him enough. He was great, emotionally satisfying TV! Our own version of Trump! Ana Navarro compared him to the “Holy Spirit” on The View, while Joy Behar said “being a lawyer is minimal compared to what he’s doing.” MSNBC’s Stephanie Ruhle said, ”The Democrats could learn something from you.”

Brian Stelter, who later excused his admiration on the grounds Avenatti showed “Trump-like mastery” of media, said Avenatti should be taken “seriously as a contender.” In another forum he was called the “savior of the Republic.” Avenatti wasn’t the savior of anything. He turned out to be an epic buffoon and massive net minus for Democrat causes. His performance in the fight over Brett Kavanaugh’s Supreme Court confirmation last fall – where the Maya Angelo-quoting self-described feminist ended up having his own witness tell NBC he’d “twisted” her words – was just one faceplant. He was soon after arrested for domestic violence. This helped lead to cancellation of campaign events, as Democratic organizers realized they’d come within a hair’s breadth of printing bumper stickers and posters for an unraveling one-man Enron.

Read more …

Empire.

Trump Declares Emergency To Expedite Arms Sales To Saudi Arabia And UAE (CNN)

The Trump administration has declared an emergency to bypass Congress and expedite billions of dollars in arms sales to various countries — including Saudi Arabia and the United Arab Emirates — citing the need to deter what it called “the malign influence” of Iran throughout the Middle East. Secretary of State Mike Pompeo formally told lawmakers Friday of the administration’s plans. “These sales will support our allies, enhance Middle East stability, and help these nations to deter and defend themselves from the Islamic Republic of Iran,” Pompeo said in a statement that put the value of the sales at $8.1 billion.


In a Friday letter to congressional lawmakers, Pompeo said that he “determined that an emergency exists, which requires the immediate sale of the defense articles and defense services” to Saudi Arabia, the UAE and Jordan “in order to deter further the malign influence of the Government of Iran throughout the Middle East region,” according to a copy obtained by CNN. The notification comes on the same day as President Donald Trump’s announcement that he is sending an additional 1,500 US troops to the Middle East to counter Iran. Pompeo noted in his statement that “today’s action will quickly augment our partners’ capacity to provide for their own self-defense and reinforce recent changes to US posture in the region to deter Iran.”

Read more …

First time they announce it anyway.

For The First Time Ever, China Takes Over An Insolvent Bank (ZH)

There was a time when in the years following the financial crisis, every Friday the FDIC would report of one or more small and not small banks failing, as their liabilities exceeded their assets, who were taken over by larger peers with a taxpayer subsidy to cover the capital shortfall. And while this weekly event, also known as “FDIC Failure Friday” has faded from the US, for now, it has made a grand appearance in China. China’s financial regulators said on Friday the country’s banking and insurance regulator and the central bank, will take control of the small, troubled inner Mongolia-based Baoshang Bank due to the serious credit risks it poses.


The regulator’s control of Baoshang will last for a year starting on Friday, the People’s Bank of China (PBOC) and China Banking and Insurance Regulatory Commission (CBIRC) said on their websites. China Construction Bank (CCB) will be entrusted to handle the business operations of the small lender, based in the industrial city of Baotou, the statement said. Such a takeover by national authorities is extremely rare, and takes place amid gathering concerns among regulators and financial analysts about a renewed surge in bad debts…

… a record pace of corporate defaults, amounting to 39.2 billion yuan of domestic bond defaults in the first four months of the year, 3.4 times the total for the same period of 2018…

Moody’s analyst Yulia Wan told the WSJ that regulators likely decided to take over Baoshang to limit any fallout to businesses in Inner Mongolia. “The move is to reduce the risk of a shock to the local economy,” said said, adding that the Baoshang takeover appeared to be the first time that national authorities seized control of a bank since Chinese lenders started listing on stock markets in the 1990s. In the past when banks came under pressure, local authorities would pull together funds from local state-owned firms and investors, or have another bank stage a takeover.

Read more …

He’ll claim it’s a witch hunt.

EU Fraud Watchdog Considering Nigel Farage Investigation (G.)

The European Union’s anti-fraud watchdog is considering whether Nigel Farage should be investigated for any illegal activity over lavish payment from Arron Banks, the Guardian has learned. The agency, which goes by its French acronym, Olaf, revealed it was carrying out an assessment, which could lead to a formal investigation. This “initial assessment … does not mean that the individuals in question are guilty of any wrongdoing”, it said. While not a full-blown inquiry, it is a rare and significant step for Olaf to consider investigating a member of the European parliament. The European parliament this week opened an investigation into revelations made by Channel 4 that the insurance tycoon Arron Banks funded a lavish lifestyle for Farage in the year of the Brexit referendum.


In 2016, Farage received expenses of about £450,000, including rent on a Chelsea home, furniture, security and promotional trips to the US, where he attended the Republican national convention. Nothing was declared, an apparent violation of the European parliament’s code of conduct, which states that MEPs must report expensive gifts and attendance at events bankrolled by third parties. “We are aware of the press reports and public statements on the matter you are referring to,” a spokesperson for Olaf said, in response to questions from the Guardian. “It is only after such an initial assessment, which is currently ongoing, that Olaf decides whether or not to open an investigation.” The agency usually takes two months to carry out an assessment, which will examine whether the case falls under its remit and if there is “sufficient suspicion of fraud, corruption or any illegal activity affecting the EU’s financial interests”.

Read more …

Death cult.

We’ve Created A Civilisation Hell Bent On Destroying Itself (C.)

The coffee tasted bad. Acrid and with a sweet, sickly smell. The sort of coffee that results from overfilling the filter machine and then leaving the brew to stew on the hot plate for several hours. The sort of coffee I would drink continually during the day to keep whatever gears left in my head turning. Odours are powerfully connected to memories. And so it’s the smell of that bad coffee which has become entwined with the memory of my sudden realisation that we are facing utter ruin. It was the spring of 2011, and I had managed to corner a very senior member of the Intergovernmental Panel on Climate Change (IPCC) during a coffee break at a workshop. The IPCC was established in 1988 as a response to increasing concern that the observed changes in the Earth’s climate are being largely caused by humans.

The IPCC reviews the vast amounts of science being generated around climate change and produces assessment reports every four years. Given the impact the IPPC’s findings can have on policy and industry, great care is made to carefully present and communicate its scientific findings. So I wasn’t expecting much when I straight out asked him how much warming he thought we were going to achieve before we manage to make the required cuts to greenhouse gas emissions. “Oh, I think we’re heading towards 3°C at least,” he said. “Ah, yes, but heading towards,” I countered: “We won’t get to 3°C, will we?” (Because whatever you think of the 2°C threshold that separates “safe” from “dangerous” climate change, 3°C is well beyond what much of the world could bear.)

“Not so,” he replied. That wasn’t his hedge, but his best assessment of where, after all the political, economic, and social wrangling we will end up. “But what about the many millions of people directly threatened,” I went on. “Those living in low-lying nations, the farmers affected by abrupt changes in weather, kids exposed to new diseases?” He gave a sigh, paused for a few seconds, and a sad, resigned smile crept over his face. He then simply said: “They will die.”

Read more …

 

 

 

 

 

May 242019
 
 May 24, 2019  Posted by at 10:14 am Finance Tagged with: , , , , , , , ,  


 

 

Either You Are A Worthless Coward Or You Defend Assange (CJ)
Trump Orders FBI, CIA To “Fully Cooperate” With Barr (ZH)
Lone US Senator Decries Use Of Espionage Act Against Assange (RT)
Chelsea Manning and Her Lawyer On Today’s Superseding Indictment (SpM)
Amnesty International: Julian Assange “Not A Prisoner Of Conscience” (Wsws)
Theresa May Announces June 7 Resignation (G.)
A “European Empire” Won’t Make Europe Richer (Azihari)
Humans Causing Shrinking Of Nature As Larger Animals Die Off (G.)

 

 

What can I say? Feel as numb as can be. Any and all news organizations and ‘journalists’ who today talk about anything other than the death of their trade deserve that death.

The entire country, and indeed the western world, across all aisles, is silent. Not even the New York Times can muster the courage and decency to stand up for itself. Orwell wins.

Either You Are A Worthless Coward Or You Defend Assange (CJ)

And there it is. WikiLeaks founder Julian Assange has been charged by the Trump administration’s Justice Department with 17 counts of violating the Espionage Act, carrying a maximum sentence of 175 years in prison. Exactly as Assange and his defenders have been warning would happen for nearly a decade. The indictment, like the one which preceded it last month with Assange’s arrest, is completely fraudulent, as it charges Assange with “crimes” that are indistinguishable from conventional journalistic practices. The charges are based on the same exact evidence which was available to the Obama administration, which as journalist Glenn Greenwald noted last year declined to prosecute Assange citing fear of destroying press freedoms.

Hanna Bloch-Wehba, an associate professor at Drexel University’s Thomas R. Kline School of Law, has called the indictment “a worst-case, nightmare, mayday scenario for First Amendment enthusiasts.” Bloch-Wehba explains that that the indictment’s “theories for liability rest heavily on Assange’s relationship with Manning and his tendency to encourage Manning to continue to bring WikiLeaks material” in a way that “is not readily distinguishable from many reporter-source relationships cultivated over a period of time.” “Put simply, these unprecedented charges against Julian Assange and WikiLeaks are the most significant and terrifying threat to the First Amendment in the 21st century,” reads a statement by Freedom of the Press Foundation Executive Director Trevor Timm.

“The Trump administration is moving to explicitly criminalize national security journalism, and if this prosecution proceeds, dozens of reporters at the New York Times, Washington Post and elsewhere would also be in danger. The ability of the press to publish facts the government would prefer remain secret is both critical to an informed public and a fundamental right. This decision by the Justice Department is a massive and unprecedented escalation in Trump’s war on journalism, and it’s no exaggeration to say the First Amendment itself is at risk. Anyone who cares about press freedom should immediately and wholeheartedly condemn these charges.”

[..] “I find no satisfaction in saying ‘I told you so’ to those who for 9 years have scorned us for warning this moment would come,” tweeted WikiLeaks Editor-in-Chief Kristinn Hrafnsson. “I care for journalism. If you share my feeling you take a stand NOW. Either you are a worthless coward or you defend Assange, WikiLeaks and Journalism.”

Read more …

“Today’s action will help ensure that all Americans learn the truth about the events that occurred.”

Your indictment of Assange ensures the exact opposite.

Trump Orders FBI, CIA To “Fully Cooperate” With Barr (ZH)

President Trump on Thursday announced that he has directed the US intelligence community to “quickly and fully cooperate with the Attorney General’s investigation into surveillance activities during the 2016 Presidential election,” adding that Attorney General William Barr has been given “complete authority to declassify information pertaining to this investigation. In a third tweet, Trump added that “Today’s action will help ensure that all Americans learn the truth about the events that occurred.” The pending declassifications were announced on Tuesday night by The Hill’s John Solomon and Fox News’s Sean Hannity, whose inside sources told them of the wide swath of information about to hit.


Among the documents slated for release, according to their sources, will be the so-called “Bucket Five” – documents which were originally presented to the Gang of Eight in 2016, which included everything the FBI and DOJ used against Trump campaign aide Carter Page – including the FISA surveillance application and its underlying exculpatory intelligence documents which the FISA court may have never seen.

Read more …

And America dies another death.

Lone US Senator Decries Use Of Espionage Act Against Assange (RT)

Sen. Ron Wyden (D-Oregon) has become a rare voice among the US politicians to denounce the new US indictment of WikiLeaks publisher Julian Assange as an encroachment on First Amendment rights. In a statement on Thursday, hours after Assange was hit with 17 additional charges under the Espionage Act, that carry a maximum total sentence of 170 years, Wyden warned that using the draconian legislation to effectively punish Assange for journalistic work might have dangerous implications to the freedom of press in the US. “This is not about Julian Assange. This is about the use of the Espionage Act to charge a recipient and publisher of classified information. I am extremely concerned about the precedent this may set and potential dangers to the work of journalists and the First Amendment,” Wyden said.

Wyden is known as a long-time advocate of privacy and civil liberties in the US legislature. He championed legislation forcing the US government to obtain a warrant before spying on Americans outside the US in 2008 and pushed for a congressional investigation into allegations of abuse and torture of prisoners by the CIA during the Bush administration. Wyden’s take on Assange’s work is in stark contrast with that of the Department of Justice, which maintains that Assange “is no journalist.” Numerous members of the journalistic community have vented their outrage at the indictment, describing it as an “unprecedented assault” on the First Amendment. The Committee to Protect Journalists (CPJ) has echoed the sentiment, denouncing the charges against the Australian as a “threat to all journalists everywhere.”

While media, civil rights organizations and prominent whistleblowers like Edward Snowden have been sounding the alarm over the new worrying development in Assange’s case, politicians in Washington, with the rare exception, seem to be ignoring the buzz. US President Donald Trump, who used to praise WikiLeaks when it released damaging emails from Hillary Clinton’s campaign before the election, has not commented on the issue, being seemingly preoccupied with his spiraling feud with House Speaker Nancy Pelosi, who, likewise, has not said a word on Assange. Her colleagues on the Capitol Hill seem to be following the trend so far.

Read more …

They use the law as a sword..

Chelsea Manning and Her Lawyer On Today’s Superseding Indictment (SpM)

Chelsea Manning and her attorney Moira Meltzer-Cohen have issued the following statements in reply to today’s events: The continued detention of Chelsea Manning is purely punitive. Today’s events underscore what Chelsea has previously said, “[a]ll of the substantive questions pertained to my disclosures of information to the public in 2010—answers I provided in extensive testimony, during my court-martial in 2013.”

“I continue to accept full and sole responsibility for those disclosures in 2010,” said Chelsea Manning this evening. “It’s telling that the government appears to have already obtained this indictment before my contempt hearing last week. This administration describes the press as the opposition party and an enemy of the people. Today, they use the law as a sword, and have shown their willingness to bring the full power of the state against the very institution intended to shield us from such excesses.”

Moira Meltzer-Cohen, Manning’s attorney stated, “up until now the Department Of Justice has been reticent to actually indict publishers for work implicating matters of national security, because the first amendment rights of the press and public are so constitutionally valuable. This signals a real shift, and sets a new precedent for the federal government’s desire to chill and even punish the vigorous exercise of the free press.”

Read more …

Amnesty is toast. Victim of its own corporatism. Useless. Don’t donate to these losers.

Amnesty International: Julian Assange “Not A Prisoner Of Conscience” (Wsws)

[..] according to Amnesty International (AI), neither Assange nor Manning are “prisoners of conscience” and their defence is not being actively pursued by the human rights charity. In a letter to the Julian Assange Defence Committee (JADC) on May 17, Amnesty International UK declared, “Julian Assange’s case is a case we’re monitoring closely but not actively working on. Amnesty International does not consider Julian Assange to be a Prisoner of Conscience.” AI’s curtly worded letter followed an urgent appeal by Maxine Walker on behalf of the JADC. Her letter drew attention to multiple human rights violations against Assange. “We cannot state strongly enough that Julian Assange is in great peril”, she wrote.

Walker cited AI’s April 11 statement that “Assange should not be extradited or subjected to any other transfer to the USA, where there are concerns that he would face a real risk of serious human rights violations due to his work with Wikileaks.” Since then, Walker challenged, “no further statements appear to have been made by you… His name appears not to have been mentioned in your material for World Press Freedom Day, an extraordinary omission given his current situation and that Julian Assange was awarded the 2009 Amnesty International UK Media Award for New Media.” Her letter continued: “The UK government has ignored, indeed poured scorn, on the UN Working Group on Arbitrary Detention 2015 ruling that ‘the deprivation of liberty of Mr. Assange is arbitrary and in contravention of articles 9 and 10 of the Universal Declaration of Human Rights’.”

[..] The most egregious violations of Assange’s rights relate to the following principles: Article 3: Everyone has the right to life, liberty and security of person; Article 5: No one shall be subjected to torture or to cruel, inhuman or degrading treatment or punishment; Article 9: No one shall be subjected to arbitrary arrest, detention or exile; Article 10: Everyone is entitled in full equality to a fair and public hearing by an independent and impartial tribunal, in the determination of his rights and obligations and of any criminal charge against him; Article 14: Everyone has the right to seek and to enjoy in other countries asylum from persecution; Article 15: No one shall be arbitrarily deprived of his nationality nor denied the right to change his nationality; Article 17: No one shall be arbitrarily deprived of his property; Article 19: Everyone has the right to freedom of opinion and expression; this right includes freedom to hold opinions without interference and to seek, receive and impart information and ideas through any media and regardless of frontiers.

Read more …

But wait. The disaster hasn’t even started.

Theresa May Announces June 7 Resignation (G.)

Theresa May has bowed to intense pressure from her own party and named 7 June as the day she will step aside as Conservative leader, drawing her turbulent three-year premiership to a close. She made the announcement after a meeting with Graham Brady, the chair of the backbench 1922 Committee – which was prepared to trigger a second no-confidence vote in her leadership if she refused to resign. May’s fate was sealed after a 10-point “new Brexit deal”, announced in a speech on Tuesday, infuriated Tory backbenchers and many of her own cabinet – while falling flat with the Labour MPs it was meant to persuade.


The leader of the House of Commons, Andrea Leadsom, resigned on Wednesday, rather than present the Brexit bill to parliament. A string of other cabinet ministers had also expressed concerns, including Sajid Javid, Jeremy Hunt, Chris Grayling and David Mundell. In particular, they rejected May’s promise to give MPs a vote on a second referendum as the Brexit bill passed through parliament, and implement the result – which they felt came too close to endorsing the idea. The prime minister will remain in Downing Street, to shoulder the blame for what are expected to be dire results for her party at Thursday’s European elections – and to host Donald Trump when he visits.

Read more …

“..freedom, commerce, and science flourished [..] in the absence of political unity..”

A “European Empire” Won’t Make Europe Richer (Azihari)

A certain nostalgic view of the Roman Empire has helped to push the idea the European Union is essential to the prosperity and success of Europe. But a closer look at the continent invalidates the link between prosperity and affiliation to Brussels’ Europe. Among the richest European countries are the countries outside the Union. This is the case in Switzerland, Norway, Iceland and Liechtenstein. Nor is there a link between the wealth of a country and its membership in large political groups at the global level. In addition to the regions already mentioned, many places combine smallness and wealth, as shown by Singapore, Taiwan, South Korea and New Zealand. Unfortunately for the proponents of a political Europe, the historical rise of the European civilization also illustrates the opposite of the imperial narrative.

The American historian David Landes recalled in 1998 that the fall of the Roman Empire was a happy event for the Old Continent. These affirmations support the work of the sociologist Jean Baechler, who, three decades earlier, wrote that the expansion of European trade was favored by the anarchy inherited from the feudal order. Coupled with the relative cultural unity forged by the Catholic Church, the feudal anarchy inaugurated by the Middle Ages liberated the economy and the spirit of enterprise. This specificity of the West explains what the British historian Eric Jones called “the miracle” or “the exceptionalism” of Europe. Unlike oriental and Asian tyrants capable of killing the creativity of an empire, European monarchs, by the smallness of their territories, knew some limits to their predation.

It was therefore easier for the industrious Western classes to escape oppression by punishing bad governments through emigration. Consider the revocation of the Edict of Nantes under Louis XIV and the impoverishment of the Kingdom of France induced by the exodus of Protestants to more favorable havens like Switzerland, the Netherlands, or England. The absence of political unity allowed the continent to be ruled by many small, sovereign, and competing territorial divisions. From this competition was born a race for talent and capital, conducive to the diffusion of a certain political discipline. It was in these conditions that freedom, commerce, and science flourished.

Read more …

Turning the clock back millions of years. When humans didn’t exist.

Humans Causing Shrinking Of Nature As Larger Animals Die Off (G.)

Humanity’s ongoing destruction of wildlife will lead to a shrinking of nature, with the average body size of animals falling by a quarter, a study predicts. The researchers estimate that more than 1,000 larger species of mammals and birds will go extinct in the next century, from rhinos to eagles. They say this could lead to the collapse of ecosystems that humans rely on for food and clean water. Humans have wiped out most large creatures from all inhabited continents apart from Africa over the last 125,000 years. This annihilation will accelerate rapidly in the coming years, according to the research. The future extinctions can be avoided if radical action is taken to protect wildlife and restore habitats, and the scientists say the new work can help focus efforts on key species.

Animal populations have fallen by 60% since 1970, suggesting a sixth mass extinction of life on Earth is under way caused by the razing of wild areas, hunting and intensive farming. Scientists said this month that human society was in danger from the decline of the Earth’s natural life-support systems, with half of natural ecosystems now destroyed and a total of a million species at risk of extinction. “It is worrying that we are losing these big species when we don’t know their full role,” said Robert Cooke, at the University of Southampton, who led the new research. “Without them, things could begin to degrade quite quickly. Ecosystems could start to collapse and become not what we need to survive.”

Chris Carbone, of the ZSL Institute of Zoology in London, said: “This study predicts extinction rates that dwarf those recorded between recent ice ages and suggests that larger species are the most vulnerable. I wouldn’t be surprised if the situation for many larger animals is worse than the researchers suggest as their decline is exacerbated by selective poaching and the illegal wildlife trade.” The research, published in the journal Nature Communications, analysed five traits of 15,500 species of mammals and birds, including body mass, breadth of habitat, diet and the length of time between generations. They combined these with data from the International Union for Conservation of Nature’s red list of threatened species, which estimates the likelihood of extinction.

The results showed the survival of far more small, highly fertile and adaptable animals, such as rodents and songbirds, than larger creatures such as rhinos, tigers and eagles. “If all these extinctions [of larger animals] take place, we are fundamentally restructuring life on this planet,” said Cooke. Research in 2018 showed that the average size of wild animals has fallen by 14% in the last 125,000 years, as behemoths including mammoths and giant sloths were exterminated by humans. The new study predicts a further shrinking of 25% in just 100 years.

Read more …

 

 

 

 

 

May 232019
 


Leonardo da Vinci The madonna of the carnation1478-80

 

Donald Trump, Nancy Pelosi Warfare Hits New Level (USA Today)
AG Barr Puts Former Intel Bosses Clapper, Brennan On Notice (Brock)
Trump To Declassify “Bucket 5” Russiagate Docs (ZH)
Avenatti Indicted For Defrauding Stormy Daniels, Extorting Nike (ABC)
Inside The Epic Fall Of Michael Avenatti (VF)
Credit-Card Charge-Offs Rise Across Banking System (WS)
The Corporate Maginot Line (Lebowitz)
The Truth About US Inequality (Colombo)
Xi Calls Trade War “New Long March” (R.)
Panasonic, Toshiba Join Firms Stepping Away From Huawei (AFP)
FAA Chief Has No Timetable For Boeing 737 MAX Approval (R.)
UK Government To Lodge Complaint Over UN’s Austerity Report (G.)
Facebook, Instagram and Twitter Are Parasites (Hawley)

 

 

Whoever you favor, it seems obvious that calling for impeaching Trump makes bipartisan work on issues impossible. Pelosi doesn’t do that, but most of her party does.

Donald Trump, Nancy Pelosi Warfare Hits New Level (USA Today)

President Donald Trump’s decision to storm out of an infrastructure meeting with Democrats left lawmakers scrambling to assess whether the fallout would reach other White House priorities, including a pending trade deal with Canada and Mexico that the president hopes will replace NAFTA. Fuming about longstanding Democratic investigations, Trump refused to shake hands with Democrats Wednesday and walked out of a meeting, prompting House Speaker Nancy Pelosi to accuse the president of throwing “a temper tantrum for us all to see.” Trump disputed the characterization in a tweet late Wednesday. “This is not true. I was purposely very polite and calm, much as I was minutes later with the press in the Rose Garden,” Trump wrote. “Can be easily proven. It is all such a lie!”


Trump has already indicated he’s prepared to push most of his legislative agenda off until after the 2020 election, a recognition that Democrats and Republicans were unlikely to reach consensus on much of anything as nearly two dozen Democratic presidential candidates barnstorm early primary states in the hunt for the nomination. Trump appeared to further close the door on bipartisan agreement with a hastily called statement Wednesday in the Rose Garden in which he indicated Washington could not be on an “investigations” track while also pursuing legislation. “Let them play their games. We’re going to go down one track at a time,” Trump said of Democrats. “Let them finish up. And we’ll be all set.”

Read more …

Kevin R. Brock, former assistant director of intelligence for the FBI, was an FBI special agent for 24 years and principal deputy director of the National Counterterrorism Center (NCTC).

AG Barr Puts Former Intel Bosses Clapper, Brennan On Notice (Brock)

Attorney General William Barr has signaled that his interest in examining the origins of the investigation into the Trump campaign extends beyond whether the FBI operated “by the book,” as former FBI Director James Comey asserts. Barr also wants to understand the role that the larger intelligence community, or IC, may have played in all of this. Barr has thrown punches that have left an interesting mix of characters with a standing eight count. Certain eyes around D.C. are a little glassy right now. Barr’s words and actions are telling. First, he raised the concern that the Trump campaign was “spied” upon. His use of the word “spying” appears more calculated than casual. The wailing and gnashing of teeth that followed is also telling.

“The FBI doesn’t spy” became the sputtering counter-refrain of those trying to mask their nervousness. It’s a fair point that’s beside the point. The FBI is charged with acting under strict legal restrictions and court orders. Spying is not a term traditionally associated with those activities. But it also misses the point Barr appears to be making. The IC does spy; that’s what they do. Barr may have been referring less to the FBI and more to the IC’s possible murky involvement. This seems to be validated by Barr’s second haymaker in as many weeks: his appointment of a surrogate investigator, U.S. Attorney John Durham.

Why would the attorney general add a third investigation to those under way by Department of Justice Inspector General Michael Horowitz and U.S. Attorney John Huber? Because those investigations are focused on the FBI. Durham’s assignment is not similarly constrained; his marching orders appear broader. Through Durham, Barr can start dusting for fingerprints across the government, not just the FBI. The squirming has begun.

Read more …

Wonder what will be kept secret.

Trump To Declassify “Bucket 5” Russiagate Docs (ZH)

As Congressional Democrats insist on conducting post-Mueller probes into President Trump and those around him, much of the recent infighting and backpedaling we’ve seen from former Obama intel chiefs is starting to make sense. Appearing with Fox News’s Sean Hannity Tuesday night, The Hill’s John Solomon revealed that according to his sources (and Hannity’s as well), President Trump will begin declassifying ‘Russiagate’ documents in the next 6-7 days. Among those will be the so-called “Bucket Five” – documents which were originally presented to the Gang of Eight in 2016, which included everything the FBI and DOJ used against Trump campaign aide Carter Page – including the FISA surveillance application and its underlying exculpatory intelligence documents which the FISA court may have never seen.

Read more …

The MSM’s favorite boy. What a story. He even forged Stormy Daniels’ signature. Tried to shake down Nike for $20 million. He could spend the rest of his life in jail.

Avenatti Indicted For Defrauding Stormy Daniels, Extorting Nike (ABC)

Federal prosecutors in New York charged Michael Avenatti with additional financial crimes Wednesday, including allegedly forging the signature of his former client Stormy Daniels and diverting nearly $300,000 owed to her for a book advance into his own account, according to court records filed on Wednesday. Prosecutors said that he then used money he took from Daniels to make monthly payments on his Ferrari, as well as to cover airfare, dry cleaning, hotels and restaurant bills, as well as payroll and insurance costs for his law firm’s employees. The new charges accuse Avenatti of misappropriating money that was supposed to be paid to Daniels when Avenatti was representing the adult film actress in her public battle against President Trump and his former attorney Michael Cohen.


“Avenatti used misrepresentations and a fraudulent document purporting to bear his client’s name and signature to convince his client’s literary agent to divert money owed to Avenatti’s client to an account controlled by Avenatti,” Manhattan U.S. Attorney Geoffrey Berman said in a statement. “Avenatti then spent the money principally for his own personal and business purposes.” Federal prosecutors in Manhattan – who have already accused Avenatti of extortion in a case involving Nike – also indicted him separately on extortion charges in the Nike case on Wednesday.

Read more …

Background at Vanity Fair.

Inside The Epic Fall Of Michael Avenatti (VF)

[..] federal prosecutors in Los Angeles filed a 197-page complaint accusing him of wire and bank fraud, in which the office detailed allegations of Avenatti misappropriating client settlement money for personal use (the receipts were gaudy: $216,720 to a Neiman Marcus, six figures to a Porsche dealership, and $68,500 at a luxury watch store). The complaint also claimed that Avenatti defrauded a bank by submitting false tax returns in order to obtain millions of dollars in loans. A few weeks later, on April 11, federal officials in California handed down a 36-count indictment, including 19 tax-related charges, 10 counts of wire fraud, 4 counts of bankruptcy fraud, and 2 bank-fraud charges. Avenatti had “[taken] money from one scheme and [used] it to lull clients, to string them along, to prevent them from going to authorities and [took] money from different pots as needed.”


One such client was a paraplegic man who had reached a $4 million agreement to settle a case related to his injuries but had not received the money. Avenatti allegedly deposited some of the settlement into a personal account associated with his car-racing team. Avenatti pleaded not guilty. He would not get into specifics about the case, but told me, “I look forward to all of the documents and all of the facts coming to light when it comes to the allegations set forth.” He noted: “The facts, in reality, are not as clear-cut as the government has made them out to be.”

Read more …

Are we about to see bank failures again?

Credit-Card Charge-Offs Rise Across Banking System (WS)

In the first quarter, the credit-card “charge-off” rate at the 4,650 or so smaller US commercial banks – all banks other than the largest 100 banks – ticked down to 7.37%, the sixth quarter in a row above 7%. During the peak of the Financial Crisis, the charge-off rate at these banks was above 7% only four quarters, but not in a row, topping out at 8.9%. These smaller banks have taken a lot of risk in their credit card strategies in recent years, going aggressively after subprime customers that had run out of luck at the largest banks. The credit-card charge off rate at the largest 100 banks rose to 3.78%, the highest since the first quarter of 2013. For all commercial banks combined, the charge-off rate rose to 3.83%, the highest since the fourth quarter 2012. The largest banks have learned a costly lesson during the Financial Crisis, when they got hammered with double-digit charge-off rates and have since focused on customers with lower risk profiles. And yet, slowly but surely, credit card charge-offs are rising across the board:

These data points that the Federal Reserve Board of Governors reported Tuesday afternoon are another warning in consumer land where serious auto-loan delinquencies, driven by subprime loans, have reached Q3 2009 levels. Credit cards have not yet reached this stage, but problems are beginning to pile up. A credit card loan is deemed “delinquent” when it is 30 days or more past due. Balances are removed from the delinquency basket when the customer cures the delinquency, or when the bank “charges off” the delinquent balance (net of whatever it was able to recover) against its loan loss reserves. The charge-off rate is figured as a percent of average credit-card balances, and is annualized.


The delinquency rate on credit-card loan balances at commercial banks other than the largest 100 banks declined to 5.43%, after having spiked to 6.2% in the third quarter. During peak-Financial Crisis, the delinquency rate at these smaller banks topped out at 5.9%. So these smaller banks got walloped last year, and they’re now scrambling to clean up, and tighten the lending standards.

Read more …

Remember AAA? Guess where your pension fund is invested today.

The Corporate Maginot Line (Lebowitz)

Since the post-financial crisis era began more than a decade ago, record low-interest rates and the Fed’s acquisition of $4 trillion of the highest quality fixed-income assets has led investors to scratch and claw for any asset, regardless of quality, offering returns above the rate of inflation. Financial media articles and Wall Street research discussing this dynamic are a dime-a-dozen. What we have not heard a peep about, however, are the inherent risks within the corporate bond market that have blossomed due to the way many corporate debt investors are managed and their somewhat unique strategies, objectives, and legal guidelines.

[..] Often overlooked, the bifurcation of investor limits and objectives makes an analysis of the corporate bond market different than that of the equity markets. The differences can be especially interesting if a large number of securities traverse the well-defined BBB-/BB+ “Maginot” line, a metaphor for expensive efforts offering a false line of security. The U.S. corporate bond market is approximately $6.4 trillion in size. Of that, over 80% is currently rated investment grade and 20% is junk-rated.This number does not include bank loans, derivatives, or other forms of debt on corporate balance sheets.

Since 2000, the corporate bond market has changed drastically in size and, importantly, in credit composition. Over this period, the corporate bond market has grown by 378%, greatly outstripping the 111% growth of GDP. The bar chart below shows how the credit composition of the corporate bond market shifted markedly with the surge in debt outstanding.

Read more …

Very long from my friend Jesse. Haven’t had time to read it yet, it’s a huge project. named Explaining Capitalism. Agree with most of what I have seen, but he has to be careful about terminology. Elizabeth Warren is not a far left politician for most people in the world, that’s at best a narrow US view.

Also: a 70% top-tax-rate is not by definition socialist; we know because the US in the 1950s-60s was not a socialist country.

As for wealth redistribution, I’m afraid you can’t escape it, because the whole edifice has gotten so out of whack. Even if you would turn back all the Fed’s failed policies today, you wouldn’t repair the consequences. Call that socialist if you want, but if you don’t do it, all hell will break loose.

The Truth About US Inequality (Colombo)

Rising economic inequality and how to address it has been one of the most important issues in the United States since the Great Recession ended in 2009. Rising inequality has spurred a powerful left-wing economic movement that kicked off with Occupy Wall Street in 2011, led to the 2016 presidential campaign of socialist Bernie Sanders (which was very popular with young Americans), and has now contributed to the rise and growing clout of far-left politicians including Elizabeth Warren and millennial socialist Alexandria Ocasio-Cortez, who are both calling for wealth redistribution policies. At the core of this left-wing economic movement is a growing disbelief and distrust in capitalism itself, as well as the belief that an excessive rich-poor gap is an inevitable outcome of capitalism.


As a result, young Americans now favor socialism over capitalism. Even 45% of Republican voters support Alexandria Ocasio-Cortez’s 70% top-tax-rate proposal, while “conservative” Fox News host Tucker Carlson threw in the towel on capitalism. The report you are reading – “The Truth About U.S. Inequality” – completely turns the conventional wisdom (i.e., the left-biased explanation) about growing U.S. wealth and income inequality on its head. Here’s the reality in a nutshell: growing U.S. economic inequality is not the fault of capitalism, but the byproduct of unbacked fiat (aka “paper”) currency, central banking/the Federal Reserve, and a massive wealth bubble that has been inflated by the Fed. Instituting free market capitalism and sound money is actually the only solution to America’s growing economic inequality.

Read more …

Still longing back to Mao.

Xi Calls Trade War “New Long March” (R.)

China must prepare for difficult times as the international situation is increasingly complex, President Xi Jinping said in comments carried by state media on Wednesday, as the U.S.-China trade war took a mounting toll on tech giant Huawei. The world’s two largest economies have escalated tariff increases on each other’s imports after talks broke down to resolve their dispute, and the acrimony has intensified since Washington last week blacklisted Chinese telecom equipment company Huawei. The listing, which curbs Huawei’s access to U.S.-made components, is a potentially devastating blow for the company that has rattled technology supply chains and investors, and saw several mobile carriers on Wednesday delay the launch of new Huawei smartphone handsets.


During a three-day trip this week to the southern province of Jiangxi, a cradle of China’s Communist revolution, Xi urged people to learn the lessons of the hardships of the past. “Today, on the new Long March, we must overcome various major risks and challenges from home and abroad,” state news agency Xinhua paraphrased Xi as saying, referring to the 1934-36 trek of Communist Party members fleeing a civil war to a remote rural base, from where they re-grouped and eventually took power in 1949. “Our country is still in a period of important strategic opportunities for development, but the international situation is increasingly complicated,” he said. “We must be conscious of the long-term and complex nature of various unfavorable factors at home and abroad, and appropriately prepare for various difficult situations.”

Read more …

Feels like this is going to take a long time.

Panasonic, Toshiba Join Firms Stepping Away From Huawei (AFP)

Japan’s Panasonic said Thursday it would stop supplying some components to Huawei, joining a growing list of firms distancing themselves from the Chinese telecoms giant after a US ban over security concerns. Japan’s Toshiba also announced it was temporarily halting shipments to Huawei to check whether US-made parts were involved, in order to comply with Washington’s new restrictions. The moves came a day after major Japanese and British mobile carriers said they would delay releasing new Huawei handsets, upping the pressure on the world’s second-largest smartphone manufacturer.


In an official statement emailed to AFP, Panasonic said it had announced in an “internal notification” that it would “suspend transactions with Huawei and its 68 affiliates that were banned by the US government”. It declined to comment on “other transactions that are not banned by the US”. Asked about its opinion about the news, Huawei pointed to a statement on Panasonic’s Chinese website that said the firm was supplying Huawei “normally” and doing so “strictly abiding by the relevant laws and regulations of countries and regions where Panasonic is present”.

Read more …

Loud calls for simulators. Which don’t exist. First one to be delivered by December. This ain’t over.

FAA Chief Has No Timetable For Boeing 737 MAX Approval (R.)

The acting head of the Federal Aviation Administration said on Wednesday he does not have a specific timetable to approve Boeing Co’s 737 MAX for flight after two fatal crashes since October prompted the plane to be grounded worldwide. The FAA is meeting with more than 30 international air regulators including China, the European Union, Brazil and Canada on Thursday to discuss a software fix and new pilot training that Boeing has been developing to ensure the jets are safe to fly. “It’s a constant give and take until it is exactly right,” Deputy FAA Administrator Dan Elwell told reporters of the discussions with Boeing. “It’s taking as long as it takes to be right,” he said, adding: “I’m not tied to a timetable.”

[..] Asked if it is realistic that the 737 MAX could be flying again by August, Elwell declined to be specific. “If you said October I wouldn’t even say that, only because we haven’t finished determining exactly what the training requirements will be,” Elwell said. “If it takes a year to find everything we need to give us the confidence to lift the (grounding) order so be it.” Elwell said he plans to share the FAA’s “safety analysis that will form the basis for our return to service decision process” on Thursday. But he said the agency is still waiting for Boeing to formally submit the software upgrade for approval, and emphasized the FAA has not decided on the revised training requirements, including whether to require simulator training.

Elwell rejected any idea that he was trying to win consensus with international regulators over the path to re-approving the MAX at the meeting. “We have to be the first to lift the order. We are the state of design,” he said. [..] Foreign regulators have signaled disagreements over measures to end the grounding, with Canadian Transport Minister Marc Garneau calling in April for pilots to receive simulator training for the MAX, rather than just computer courses. Canada and Europe said on Wednesday they would bring back the grounded aircraft on their own terms if their specific concerns are not addressed. “From our point of view, if we all work together and we all reach the same aim, fine. If we don’t, we’ll choose our own time to decide when the planes are safe to fly again,” Canada’s Garneau told Reuters in an interview.

Read more …

The Tories are set for historic losses in the EU elections this weekend. They feel the pressure. Getting rid of May won’t solve a thing.

UK Government To Lodge Complaint Over UN’s Austerity Report (G.)

The work and pensions secretary, Amber Rudd, plans to lodge a formal complaint with the UN about the damning report on austerity in Britain by its special rapporteur on extreme poverty, Philip Alston. Rudd will argue that Alston is politically biased and did not do enough research. The minister is seeking guidance from the Foreign Office on the best way to respond after Alston compared her department’s welfare policies to the creation of Victorian workhouses. Alston quoted the 17th-century philosopher Thomas Hobbes to warn that unless austerity was ended and welfare cuts were reversed, millions of poorer Britons faced lives that would be “solitary, poor, nasty, brutish and short”.

The 21-page report said the government appeared unwilling to debate the impact of its austerity policies since 2010, which it said were “in clear violation of the country’s human rights obligations”. Alston accused ministers of “window dressing to minimise political fallout” by insisting the country was enjoying record lows in absolute poverty, children in workless households and unemployment. The “endlessly repeated” mantra about rising employment overlooked that “close to 40% of children are predicted to be living in poverty two years from now, 16% of people over 65 live in relative poverty and millions of those who are in work are dependent upon various forms of charity to cope,” he said. The report will be formally presented to the UN Human Rights Council in Geneva on 27 June.

The government believes Alston, a New York-based human rights lawyer, could not credibly have reached his conclusions after only an 11-day trip to the UK. Last November he visited nine towns and cities in England, Scotland, Northern Ireland and Wales, holding town hall meetings and visiting poverty-related charities and organisations including food banks and youth programmes. Rudd is said to be particularly frustrated by Alston’s accusation that the government was responsible for the “systematic immiseration of a significant part of the British population”. She also believes Alston ventured off his beat by making criticisms about cuts to police numbers and legal aid. In a statement, the government said his report was “a barely believable documentation of Britain based on a tiny period of time spent here” and “a completely inaccurate picture of our approach to tackling poverty”.

Read more …

Sen. Josh Hawley, R-Missouri, is on the Judiciary Committee’s Subcommittee on Antitrust, Competition Policy and Consumer Rights. He wants Facebook, Instagram and Twitter to disappear completely.

Facebook, Instagram and Twitter Are Parasites (Hawley)

Social media consumers are getting wise to the joke that when the product is free, they’re the ones being sold. But despite the growing threat of consumer exploitation, Washington still shrinks from confronting our social media giants. Why? Because the social giants have convinced the chattering class that America simply can’t do without them. Confront the industry, we’re told, and you might accidentally kill it — and with it, all the innovation it has (supposedly) brought to our society. Maybe. But maybe social media’s innovations do our country more harm than good. Maybe social media is best understood as a parasite on productive investment, on meaningful relationships, on a healthy society.

Maybe we’d be better off if Facebook disappeared. Ask the social giants what it is that they produce for America and you’ll hear grand statements about new forms of human interaction. But ask where their money comes from and you’ll get the real truth. Advertising is what the social giants truly care about, and for an obvious reason. It’s how they turn a profit. And when it comes to making money, they’ve been great innovators. They’ve designed platforms that extract massive amounts of personal data without telling consumers, then sell that data without consumers’ permission.

And in order to guarantee an audience big enough to make their ads profitable, big tech has developed a business model designed to do one thing above all: addict. Facebook, Twitter, Instagram — they devote massive amounts of money and the best years of some of the nation’s brightest minds to developing new schemes to hijack their users’ neural circuitry. That’s because social media only works — to make money, anyway — if it consumes users’ time and attention, day after day. It needs to replace the various activities we enjoyed and did perfectly well before social media existed.

Read more …

 

 

 

 

 

May 212019
 
 May 21, 2019  Posted by at 9:41 am Finance Tagged with: , , , , , , , , , , ,  


Albrecht Dürer Praying hands 1508

 

President Trump Takes Aim at the Military Industrial Complex (Cassandra)
Xi Sends Trump A Message: Rare-Earth Export Ban Is Coming (ZH)
US Judge Backs Democrats’ Request For Trump Financial Records (AFP)
Fed’s Powell: Business Debt No Subprime Crisis, But Still Merits Reflection (R.)
Deutsche Bank Death Spiral Hits New Low. European Banks Get Re-Hammered (WS)
The Missing Step (Craig Murray)
Battle Breaks Out For WikiLeaks Founder Assange’s Computers (Fox)
Joe Biden, The Tranquilizer (Jim Kunstler)
Nigel Farage Copied Italy’s Five Star Movement (G.)
Italian Dock Workers Refuse To Load Saudi Arms Ship Over Yemen War (RT)
New Ukraine President: “First Task” Is To “End War In Donbass” (ZH)
Yesterday The Definition of The Kilogram Changed Forever (SA)

 

 

It’s too contradictory to say such things after handing Bolton and Pompeo a job.

President Trump Takes Aim at the Military Industrial Complex (Cassandra)

President Donald Trump took aim at the military industrial complex in an interview with Fox News, saying that while he wants to bring troops home, “they never want to leave, they always want to fight.” The president was discussing Iran and how he prefers to solve tensions economically, but is up against people that would send “thousands of soldiers” into Syria if it was up to them. Hilton had asked the president if he could “reassure people you’re not looking for some kind of conflict in Iran?” His response was far different than his tough tweet about Iran on Sunday. “Well, I’m the one that talks about these wars that are 19 years (long), and people are just there. And don’t kid yourself, you do have a military industrial complex. They do like war,” Trump said in his interview with Fox News’s Steve Hilton.


“You know, In Syria with the caliphate, so I wipe out 100% of the caliphate that doesn’t mean you’re not going to have these crazy people going around, blowing up stores and blowing up things, these are seriously ill people…But I wiped out 100 percent of the caliphate,” Trump continued. “I said, I want to bring our troops back home — the place went crazy. They want to keep– you have people here in Washington, they never want to leave. I said, you know what I’ll do, I’ll leave a couple hundred soldiers behind, but if it was up to them they’d bring thousands of soldiers in.” Trump added, “someday people will explain it, but you do have a group, and they call it the military-industrial complex.” “They never want to leave, they always want to fight. No. I don’t want to fight, but you do have situations like Iran. You can’t let them have nuclear weapons. You just can’t let that happen,” Trump said.

Read more …

The problems with rare earth metals have been known for a long time. So preparations have been made. Weaponized?

Xi Sends Trump A Message: Rare-Earth Export Ban Is Coming (ZH)

Back in April of 2018, when the trade war with China was still in its early stages, we explained that among the five “nuclear” options Beijing has to retaliate against the US, one was the block of rare-earth exports to the US, potentially crippling countless US supply chains that rely on these rare commodities, and forcing painful and costly delays in US production as alternative supply pathways had to be implemented. As a result, for many months China watchers expected Beijing to respond to Trump’s tariff hikes by blocking the exports of one or more rare-earths, although fast forwarding one year later this still hasn’t happened. But that doesn’t mean it won’t happen, and overnight President Xi Jinping’s visit to a rare earths facility fueled speculation that the strategic materials will soon be weaponized in China’s tit-for-tat war [with] the US.

As Bloomberg reported overnight, shares in JL MAG Rare-Earth surged by the daily limit on Monday after Xinhua said the Chinese president had stopped by the company in Jiangxi, a scripted move designed to telegraph what China could do next. The reason for the dramatic market response is that the presidential visit flags policy priorities, and “rare earths have featured in the escalating trade spat between the U.S. and China.” Specifically, as Bloomberg notes, China raised tariffs to 25% from 10% on American imports, while the U.S. excluded rare earths from its own list of prospective tariffs on roughly $300 billion worth of Chinese goods to be targeted in the next wave of measures. And just in case the White House missed the message, Xi was accompanied on the trip to JL MAG by Liu He, the vice premier who has led the Chinese side in the trade negotiations.

Read more …

Lawyers laughing all the way to the bank. For years.

US Judge Backs Democrats’ Request For Trump Financial Records (AFP)

A US federal judge on Monday denied President Donald Trump’s efforts to quash a subpoena from Democratic lawmakers to release years of financial documents dating from before his time in the White House. The decision marked the first time that US courts have waded into the conflict pitting the president against the Democrats who, riding on their newfound majority in the House of Representatives, have opened a raft of probes into Trump. Trump, who says he is the victim of “harassment,” has refused to cooperate in the investigations focused on his tax returns, his finances or matters related to Russian efforts to tip the 2016 election in his favor. US District Judge Amit Mehta refused to block the House Oversight and Reform Committee’s subpoena for accounting firm Mazars USA pending litigation.


The lawmakers’ April 15 request for records dating back to 2011 followed testimony by Trump’s one-time lawyer Michael Cohen that his boss would often change the estimated value of his assets and liabilities on financial statements as he felt was needed for various purposes. On April 22, Trump and affiliated organizations and entities filed suit, requesting that the court declare the subpoena “invalid and unenforceable” as it questioned the legislative validity of the Democrats’ demands.] “So long as Congress investigates on a subject matter on which ‘legislation could be had,’ Congress acts as contemplated by Article I of the Constitution,” which guarantees the body its legislative powers, Mehta said. “Applying those principles here compels the conclusion that President Trump cannot block the subpoena to Mazars.”

Read more …

Unless his power is taken away, he will lead the US into oblivion.

Fed’s Powell: Business Debt No Subprime Crisis, But Still Merits Reflection (R.)

Federal Reserve Chairman Jerome Powell on Monday dismissed comparisons between the rise of business debt to record levels in recent years and the conditions in U.S. mortgage markets that preceded the 2007-to-2009 economic crisis, but even so said caution was warranted. Comparisons to the years before the financial crisis are “not fully convincing” Powell said at an Atlanta Federal Reserve bank conference on financial markets, since the growth of debt seems in line with economic growth, debt service costs remain low, and the financial system is better positioned to absorb losses.


Despite that, he pointed to the lack of transparency about the funding sources and ultimate holders of corporate debt, and to risks that any economic downturn could worsen if indebted borrowers begin to fail as reasons for caution. “Business debt has clearly reached a level that should give businesses and investors reason to pause and reflect,” Powell said, with corporate borrowing at a record level of around 35 percent of corporate assets. Though growth in corporate debt has slowed lately, “another sharp increase…could increase vulnerabilities appreciably,” Powell said. That concern is another reason the Fed may be reluctant to cut interest rates, since lower borrowing costs could prompt firms to take on more debt.

Read more …

What you get when you don’t allow zombies to die.

Deutsche Bank Death Spiral Hits New Low. European Banks Get Re-Hammered (WS)

The amazing thing with Deutsche Bank shares is this: Since 2007, so for 12 years, bottom fishers have been routinely taken out the back and shot, every time, with relentless regularity – as have big institutional investors, from Chinese conglomerates to state-owned wealth funds, that thought they were picking the bottom. A similar concept applies to European banks in general. May 2007 was the high point. And it has been brutal ever since – 12 years of misery. Deutsche Bank shares dropped another 2.9% on Monday in Frankfurt, and closed at a new historic low of €6.64 after hitting €6.61 intraday. This time, the blame was put on UBS analysts that finally stamped “sell” on the stock, replacing their “neutral” rating. Deutsche Bank’s market cap is now down to just €13.8 billion. Shares have plunged 39% over the past 12 months and 60% since January 2018 (data via Investing.com):

The bank has been subject to years of revelations of shenanigans that span the palette. Once a conservative bank that primarily served its German business clientele in Germany and overseas, it decided to turn itself into a Wall Street high-flyer that caused its shares to skyrocket until May 2007, when it got tangled up in the Financial Crisis that then led to a slew of apparently never-ending hair-raising revelations, settlements with regulators, and huge fines. Since their death-spiral began in May 2007, Deutsche Bank shares have lost over 94% of their value. The UBS downgrade to sell came just in the nick of time:

[..] the stocks of European banks, as depicted by the Stoxx 600 Banks index – which tracks 44 representative banks – dropped 1.6% on Monday to the lowest level since January 9, 2019, and has plunged 30% since the end of January 2018. But going back 12 years, the plunge takes on different dimensions and parallels that of Deutsche Bank, with the index down 74% since May 2007, just bumping along the bottom, from hopeless to hope and back to hopeless:

Read more …

“The original Swedish request for Assange’s extradition was not issued by any court, but simply by the prosecutor.”

The Missing Step (Craig Murray)

In Sweden, prosecutors have applied to the Swedish courts to issue a warrant for Julian’s arrest. There is a tremendous back story to that simple statement. The European Arrest Warrant must be issued from one country to another by a judicial authority. The original Swedish request for Assange’s extradition was not issued by any court, but simply by the prosecutor. This was particularly strange, as the Chief Prosecutor of Stockholm had initially closed the case after deciding there was no case to answer, and then another, highly politically motivated, prosecutor had reopened the case and issued a European Arrest Warrant, without going to any judge for confirmation. [..] immediately after Assange lost his case against the warrant in the Supreme Court, the British government changed the law to specify that future warrants must be from a judge and not a prosecutor.

[..] The judgement against Assange in the UK Supreme Court on the point of whether the Swedish Prosecutor constituted a “judicial authority” hinged on a completely unprecedented and frankly incredible piece of reasoning. Lord Phillips concluded that in the English text of the EWA treaty “judicial authority” could not include the Swedish prosecutor, but that in the French version “autorite judiciaire” could include the Swedish prosecutor. The two texts having equal validity, Lord Phillips decided to prefer the French language text over the English language text, an absolutely stunning decision as the UK negotiators could be presumed to have been working from the English text, as could UK ministers and parliament when they ratified the decision.

[..] Sweden has not filed a request for arrest. Sweden is going through its judicial processes – which it skipped the first time – in order to decide whether or not to file a request for arrest. This gives Assange the opportunity to start the process of fighting the allegations, which he strenuously denies, in the Swedish courts. However at present his Swedish lawyer cannot access him in Belmarsh high security jail, which is typical of the abuses of process to which he is subject.

[..] Julian Assange revolutionised publishing by bringing the public direct access to massive amounts of raw material showing secrets the government wished to hide. By giving the public this direct access he cut out the filtering and mediating role of the journalistic and political classes. Contrast, for example, the Panama Papers which, contrary to promises, only ever saw less than 2% of the raw material published and where major western companies and individuals were completely protected from revelation because of the use of MSM intermediaries. Or compare Wikileaks to the Snowden files, the vast majority of which have now been buried and will never be revealed, after foolishly being entrusted to the Guardian and the Intercept. Assange cut out the intermediary role of the mediating journalist and, by allowing the people to see the truth about how they are governed, played a major role in undercutting public confidence in the political establishment that exploits them.

Read more …

“If anything surfaces, I can assure you it would’ve been planted,” he said. “Julian isn’t a novice when it comes to security and securing his information. We expected this to happen and protections have been in place for a very long time.”

Battle Breaks Out For WikiLeaks Founder Assange’s Computers (Fox)

On Monday, judicial authorities from Ecuador carried out an inventory of all the belongings and digital devices left behind at the London embassy following his expulsion last month from the diplomatic compound that had been his home the past seven years. It came as Sweden announced it was seeking Assange’s arrest on suspicion of rape, setting up a possible future tug-of-war with the United States over any extradition of Assange from Britain.

It’s not known what devices authorities removed from the embassy or what information they contained. But authorities said they were acting on a request by the U.S. prosecutors, leading Assange’s defenders to claim that Ecuador has undermined the most basic principles of asylum while denying the secret-spiller’s right to prepare his defense. “It’s disgraceful,” WikiLeaks’ editor in chief, Kristinn Hrafnsson, said in an interview with The Associated Press. “Ecuador granted him asylum because of the threat of extradition to the U.S. and now the same country, under new leadership, is actively collaborating with a criminal investigation against him.”

[..] Hrafnsson, who has visited the Australian activist in jail, said Assange saw his eviction coming for weeks as relations with President Lenin Moreno’s government deteriorated, so he took great care to scrub computers and hard drives of any compromising material, including future planned leaks or internal communications with WikiLeaks collaborators. Still, Hrafnsson said he fully expects Moreno or the Americans to claim revelations that don’t exist. He called Monday’s proceedings a “horse show” because no legal authority can guarantee Assange’s devices haven’t been tampered with, or the chain of custody unbroken, in the six weeks since his arrest. “If anything surfaces, I can assure you it would’ve been planted,” he said. “Julian isn’t a novice when it comes to security and securing his information. We expected this to happen and protections have been in place for a very long time.”

[..] According to the request for a detention order obtained by The Associated Press, Assange is wanted for “intentionally having carried out an intercourse” with an unnamed woman “by unduly exploiting that she was in a helpless state because of sleep.”

Read more …

Biden is damaged goods.

Joe Biden, The Tranquilizer (Jim Kunstler)

I call Mr. Trump the Golden Golem of Greatness for a reason (several really) but mainly for his seemingly implacable demeanor. He’s exactly like that folkloric figure from the mists beyond the Pale of Settlement, an animate hunk of impassive clay communing with spirits of the dead, blundering blindly about the land, scaring little children and turning the peasants’ blood to ice-water. You might even say he was conjured up by the very deacons of Wokesterism who now tremble at his every thundering footstep.

Uncle Joe Biden is surely the antidote to all that. He served four years under the Wokester Deacon-in-Chief, Mr. Obama, and cheerfully endured his ritual castration, rendering him harmless to all who must-be-believed, and other sub-categories of the aggrieved and oppressed. At 76, he is way older than anyone (anyone serious, that is) who ever ran for President before, perhaps bordering even on feeble, and that’s another plus: he couldn’t hurt a fly. At least not here in the States. He has no plans, apparently, to try to make America great again — but he still has a hearty appetite for international adventuring that might redound to the benefit of the US War industry and its handmaidens on K Street and Capitol Hill.

And, of course, Uncle Joe goes through these palliative motions of bringing tranquility to the Democratic scramble, his smile fixed, teeth gleaming, hair perfect, hand a’pumping, as ever more information emerges about the spectacular effrontery of his international money-grubbing while vice-president. He did what in Ukraine in 2014. And Uncle Joe’s son, Hunter, walked away with how many millions of dollars after being appointed to the board of Ukrainian gas company Burisma Holdings? Uncle Joe even bragged to the Council on Foreign Relations about how he browbeat Ukrainian President Petro Poroshenko into firing their equivalent of Attorney General, who was about to look into this fishy Burisma deal. And then there was the even bigger windful after Uncle Joe paid a call on China and Hunter’s shadowy company, Rosemont Seneca, landed a billion dollar private equity deal (whatever that means) from an equally shadowy company fronting for the Chinese government.

Read more …

If Casaleggio hadn’t suddenly died, M5S would have been much stronger.

Nigel Farage Copied Italy’s Five Star Movement (G.)

One day in January 2015, Nigel Farage gave his senior adviser, Raheem Kassam, an unusual bit of news. “On Monday, we’re going to Milano,” he said. (Farage always pronounced it “Mil-ar-no”, much to Kassam’s amusement.) “I was like: ‘What? Why?’” Kassam said. Farage, who was then the leader of the anti-European Union party Ukip, explained that they were going to sit down with Gianroberto Casaleggio. Kassam whipped out his phone and quickly Googled “Casaleggio” – he had never heard of him. Farage described Casaleggio to Kassam as the “genius behind Five Star”, the Italian political party that won a 25% vote share in 2013, the first national elections it had ever contested.

Nothing like this had happened before in modern Italian politics. Casaleggio and the comedian Beppe Grillo, who was famous in Italy for his rabble-rousing live shows, had founded the movement just four years earlier. They had largely built the Five Star Movement online, with remarkably little money or mainstream media attention. Five Star was only one step toward Casaleggio’s long-term ambition: to supplant parliament with an online democracy where citizens, highly informed through the internet, could fashion policy directly. Farage had “always been interested” in direct democracy, Kassam said, and in “turning everything over to the internet”. But Farage was more impressed by the fact that, after just a few years, Casaleggio’s largely online movement was on the verge of becoming Italy’s biggest political party.

He wanted to know how Casaleggio had done it – and then to replicate its success. In Milan, Farage was struck by how Casaleggio was using social media and the internet to create a new model for political communications. Five Star members were discussing and voting on policy and nominating and electing each other to run for office while being steeped in party propaganda, all on a single online platform. This made supporters feel as if the movement’s identity was emerging organically from their online interactions, while Casaleggio and Grillo could guide those interactions with messaging from above. What’s more, the “movement” was dominated by a private company owned by Casaleggio.

Five Star was in many ways less like a political party than a publicly traded company in which members were voting shareholders, but Casaleggio had the controlling stake. Farage left Milan “very excited” about bringing Five Star’s style of digital democracy to the UK, Kassam said. So did Farage’s ally Liz Bilney, who was also present at the Milan meeting and went on to found the pro-Brexit group Leave.EU. “If I was starting Ukip today,” Farage told the political scientists Matthew Goodwin and Caitlin Milazzo around that time, “would I spend 20 years speaking to people in village halls or would I base it on the Grillo model? I know exactly what I would do.”

Read more …

Governments try to make blood money. Workers do not.

Italian Dock Workers Refuse To Load Saudi Arms Ship Over Yemen War (RT)

Italian unions have refused to load cargo onto a Saudi ship carrying weapons, in protest against Riyadh’s war on Yemen. The dock workers have gone on strike, refusing to work until the ship leaves port in Genoa. While the Saudi Arabian ship, the Bahri-Yanbu, was expected to leave for Jeddah by the end end of the day, it seems the delivery might end up being rather late. After unsuccessful attempts to have the ship barred from docking in Italy altogether, it was greeted by banners and a protests as it arrived in port Monday. Workers were joined by human rights campaigners who oppose stocking the ship over fears the supplies will be used against the civilian population in Yemen.


The demonstrators held signs opposing the war and arms trafficking. “We will not be complicit in what is happening in Yemen,” union leaders said in a statement. Port officials have acknowledged that the generators that protesters fear may be used for military purposes have been blocked from being brought on board, but say some non-critical goods will still be loaded. Union leaders are scheduled to meet with the port’s prefects to discuss the impasse. The ship was loaded with weapons in Belgium, but successfully blocked from picking up additional arms at a French port as a result of a similar protest.

Read more …

Sounds hopeful for sure.

New Ukraine President: “First Task” Is To “End War In Donbass” (ZH)

There’s fresh hope that unrest in Donbass raging since 2014 could find resolution as Ukraine’s new president, comedian and presidential impersonator turned overnight real political leader Volodymyr Zelenskiy, was just sworn in on Monday, and immediately he is dissolving parliament and urging peaceful settlement in the country’s east. The 41-year old Zelenskiy said in translated comments via The Moscow Times: “Our first task is to end the conflict in the Donbass.” With a clear mandate from Ukrainian voters who overwhelmingly want to see an easing of tensions with Russia, and the exit of oligarchs from power to halt mass political corruption, he announced during the inauguration ceremony from Kiev he wants to achieve a ceasefire in eastern Ukraine, even if it means losing his post.

In his much anticipated inauguration speech, Zelenskiy switched from Ukrainian to Russian to say: “I believe that the first step to begin this dialogue will be the return of all Ukrainian prisoners [held by Russia].” He further emphasized he would pursue peace at a cost to his reputation — “and, if need be, even this job” — according to The Moscow Times. Zelenkiy’s upset victory over Petro Poroshenko by a double-digit margin has led some to dub him the “Donald Trump of Ukrainian politics” given his outside the system status and willingness to break from the establishment on the question of dialogue with Russia. He promised Ukrainians that he would seek to do this “without losing our territory, never.”

The five-year long conflict in the east involving Russian-backed separatists who’ve severed ties from Kiev in a move for de facto independence has killed an estimated 13,000 people and has at times threatened to escalate to the level of western intervention. The billionaire chocolate magnate Poroshenko, who came to power as a result of the West-backed so-called Euromaidan revolution gave one parting shot during his concession speech: in the Kremlin, he said, “they believe that with a new inexperienced Ukrainian president, Ukraine could be quickly returned to Russia’s orbit of influence,” according to a translation by the LA Times.

Read more …

Nerds ‘R’ Us.

Yesterday The Definition of The Kilogram Changed Forever (SA)

Finally, 130 years after it was established, the kilogram as we know it is about to be retired. But it’s not the end: tomorrow, 20 May 2019, a new definition will be put in place – one that’s far more accurate than anything we’ve had until now. After the shift was unanimously voted in at the General Conference on Weights and Measures in Versailles at the end of last year, the change is now finally about to become official. Le kilogramme est mort, vive le kilogramme. Most people don’t think about metrology – the science of measurement – as we go about our day. But it’s vastly important. It’s not just the system by which we measure the world; it’s also the system by which scientists conduct their observations. It needs to be precise, and it needs to be constant, preferably based on the laws of our Universe as we know it.

But of the seven base units of the International System of Units (SI), four are not currently based on the constants of physics: the ampere (current), kelvin (temperature), mole (amount of substance) and kilogram (mass). “The idea,” explained Emeritus Director of the International Bureau of Weights and Measures (BIPM) Terry Quinn to ScienceAlert, “is that by having all the units based on the constants of physics, they are by definition stable and unaltering in the future, and universally accessible everywhere.” For example, a metre is determined by the distance light travels in a vacuum in 1/299792458 of a second. A second is determined by the time it takes for a caesium atom to oscillate 9,192,631,770 times.

A kilogram is defined by… a kilogram. No, literally. It’s a kilogram weight called the International Prototype of the Kilogram (IPK), made in 1889 from 90 percent platinum and 10 percent iridium, and kept in a special vault in the BIPM headquarters. [..] For the last few years, metrologists have been talking about the need for a new standard. Now, they’re finally ready to redefine the kilogram based on the Planck constant, the ratio of energy to frequency of a photon, measured to its most precise value yet only last year. “It is only now that we can define the kilogram in terms of a constant of physics – the Planck constant, the speed of light and the resonant frequency of the caesium atom,” Quinn explained.


One of the IPK copies in its double bell jars. (NIST)

Read more …

 

 

 

 

 

May 182019
 
 May 18, 2019  Posted by at 9:55 am Finance Tagged with: , , , , , , , , , , , , ,  


Edouard Manet Gypsy with a cigarette 1862

 

Half Of Americans Are Just One Paycheck Away From ‘Financial Disaster’ (MW)
Record-Setting Art Sales Confirm Global Liquidity Bubble (Colombo)
A Greek Canary in a Global Goldmine (Varoufakis)
US Media No Longer Reports Facts, But Appeals To Emotions (SHTF)
OPCW Expert Contradicts Official Douma Attack Analysis (CJ)
Free For All (Jim Kunstler)
May And Corbyn Blame Each Other As Brexit Talks Collapse (G.)
Tory Brexiteers Tell May: You Must Quit Now (Ind.)
A Brief History Of Doom: The New Kindleberger And Mackay (Steve Keen)
Cristiano Ronaldo Donates $1.5 million to Palestine for Ramadan (21Wire)
Air Pollution May Be Damaging ‘Every Organ In The Body’ (G.)

 

 

Many such surveys these days.

Half Of Americans Are Just One Paycheck Away From ‘Financial Disaster’ (MW)

Missing more than one paycheck is a one-way ticket to financial hardship for nearly half of the country’s workforce. A new study from NORC at the University of Chicago, an independent social research institution, found that 51% of working adults in the United States would need to access savings to cover necessities if they missed more than one paycheck. [Research from the Federal Reserve found that 4 in 10 Americans couldn’t afford a $400 emergency, and 22% say they expect to forgo payments on some of their bills.]


Certain communities were more prone to economic hardship in the event of missing a paycheck. Roughly two-thirds of households earning less than $30,000 annually and Hispanic households would be unable to cover basic living expenses after missing more than one paycheck, the researchers found. “Even so, notable differences remain across race, ethnicity, education groups, and locations and many individuals still struggle to repay college loans, handle small emergency expenses, and manage retirement savings,” it added. The findings were based on a survey of more than 1,000 adults. The researchers interviewed a nationally representative panel designed to be indicative of the U.S. population.

Read more …

Record numbers of dirt poor Americans while the rich don’t know what to do with their money. Not a recipe for anything long lasting.

Record-Setting Art Sales Confirm Global Liquidity Bubble (Colombo)

Art and collectibles prices have exploded in the past decade as a result of the extremely frothy conditions created by central banks. Hardly a week goes by without news headlines being made about ugly, tacky, or just plain bizarre works of art fetching tens of millions, if not hundreds of millions, of dollars at auction houses like Sotheby’s and Christie’s (often sold to rich buyers in China or Hong Kong). Make no mistake: we’re currently experiencing a massive art bubble of the likes not seen since the Japan-driven art bubble of the late-1980s that ended disastrously. Two art market records were made in the past week: the $91.1 million “Rabbit” sculpture by Jeff Koons, which set the record for the highest amount paid for a piece of art by a living artist, and the sale of Monet’s ‘Meules’ painting for $110.7 million, which set a record for an Impressionist work.


[..] In order to understand today’s art bubble, it is helpful to learn about the art bubble of the late-1980s that ultimately crashed and burned. Throughout the 1980s, Japan had a bubble economy that was driven by debt and bubbles in property and stocks. Japan’s economy was seemingly unstoppable – almost everyone in the West was terrified that Japan’s economy and corporations would trounce ours while destroying our standard of living in the process. Of course, few people knew how unsustainable Japan’s economy was at that time.

As a result of hubris and the enormous amount of liquidity that was flowing throughout Japan’s economy in the late-1980s, Japanese businesspeople and corporations started to speculate in art, often bidding previously unheard of sums that Western art collectors would never have dreamed of paying. For example, Yasuda Fire and Marine Insurance paid a record $39.9 million for Vincent van Gogh’s “Sunflowers” at a London auction in 1987. Ryoei “wild fellow” Saito, Chairman of the Daishowa Paper Manufacturing empire, paid $160 million for the world’s two most expensive paintings – a Van Gogh and a Renoir. At the peak of the art market in 1990, Japan imported more than $4 billion worth of art, including nearly half of all Impressionist art that was on the market. Of course, the art market plunged along with Japan’s bubble economy in the early-1990s.

Read more …

“When vultures grow fat on a corpse, they do not revive it.”

A Greek Canary in a Global Goldmine (Varoufakis)

The eurozone country that has become synonymous with insolvency is today proving to be a treasure-trove for some. Traders who bought Greek assets a few years ago have good reason to celebrate, having banked returns that no other market could have provided. But, as is often the case, an opportunity that seems too good to be true probably is. And this one could portend the next phase of our global crisis. An investor who bought German government bonds in 2013 has, by now, gained a 7% return, whereas a buyer of a Greek government bond issued at the height of the country’s debt crisis in 2012 would have earned a colossal 231% return. Two months ago, the price of the first ten-year bond issued since Greece’s bailout in 2010 surged for seven consecutive days, rising by 2.8% in a week – a better performance than any other government bond issue worldwide.

That bond rally created a psychological slipstream, which, in recent months, pulled the Athens Stock Exchange 26% higher, against the background of a European asset market inexorably bleeding capital. On the strength of these impressive numbers, it is as tempting as it would be false to herald the end of Greece’s crisis. The Greek bond and equity rally is obscuring a growing chasm between a gloomy economic reality and an unsustainably buoyant financial climate. Rather than reflecting Greece’s recovery, the traders’ high profit margins mirror continued deflationary pressures and fragmentation in Europe within a global environment of decreasing debt sustainability. The numbers from Greece, so exciting to investors far and wide, may well prove a harbinger of fresh troubles for Europe’s economy, and perhaps for the world.

Given the gaping gap between Greece’s nominal national income and its public debt, how is it possible that Greek bonds are soaring? Why is the Athens Stock Exchange rising while business remains hampered by punitive taxation, banks labor under a mountain of non-performing loans, declining unemployment reflects only emigration and some precarious jobs, net public investment is negative, and private investment in production of high value-added tradable goods is absent?

One reason is the proverbial dead-cat-bounce. Given how thin Greece’s equity market is – total capitalization is €52 billion ($58 billion) – the modest influx of capital that came in the wake of the bond rally was enough to drive the 26% rise in its index. But, despite this surge, the Greek market remains 81% below its 2009 level. As for the bond rally itself, the paradox quickly disappears once we recall how the first two bailouts shifted Greek public debt from the private sector to the shoulders of Europe’s taxpayers.

Read more …

I’m very happy I’m not the only one having signaled this for 2+ years. It’s almost worth being called a Trump supporter for. Though that is still an utterly ridiculous allegation in my case. But this is the most dangerous tendency in American society today, not Trump.

US Media No Longer Reports Facts, But Appeals To Emotions (SHTF)

The mainstream media in the United States has made a shift in the past few decades. Now, they appeal to emotions as opposed to reporting the facts. This “cultural schizophrenia” is tearing the U.S. apart at the seams. Based on the conclusions to a RAND Corporation study, the mainstream media is actively sowing discord in American society, award-winning journalist Chris Hedges tells RT. The media is focusing on making two sides hate each other instead of reporting on the facts, and the majority of the public is unaware and doesn’t care that their minds are being manipulated by their own emotional responses.

The study, which was released by RAND earlier this week, states that between 1987 and 2017, news content has shifted from event- and context-based reporting to coverage that is “more subjective, relies more heavily on argumentation and advocacy, and includes more emotional appeals.” According to RT, prime-time cable news shows and online journalism lead the way in this shift to emotional and hate-based rhetoric. It has been noticed in print journalism as well, the government-funded think tank concluded. This is contributing to what RAND termed “Truth Decay.” This is described as a shift away from facts and analysis in public discourse.

Hedges claims that the deterioration of the mainstream media is “far worse” than the RAND report suggests. And he isn’t alone in that assessment. [American journalist Matt]Taibbi says that the result of this journalistic decay and emotional fear mongering is a public addicted to hating each other. Americans have become addicted to the news that agrees with their bias, and it was set up that way on purpose. The only thing anyone will hear when they turn on the news are stories specifically crafted to manufacture outrage, make you hate the other side, and fuel the addiction to anger. –SHTFPlan

[..] It is becoming difficult to tell apart facts and opinion now, and people believe whatever they want to believe, Hedges explained. “We spent years watching CNN and MSNBC promoting this conspiracy theory that Trump was a Kremlin agent… It was all garbage but it attracted viewers,” Hedges added as an example. And, if you don’t mind your IQ dropping, turn on MSNBC for just a few minutes. It’s likely you’ll still hear something about Russiagate to keep the public pissed off beyond comprehension.

Read more …

OPCW gone. White Helmets gone. Skripal narrative gone. This is why Assange is so needed. Because we wouldn’t know these things if not for leaks. Assange built the infrastructure for them.

Note: some publications say this concerns an OPCW article. It is not, they tried to hide it.

OPCW Expert Contradicts Official Douma Attack Analysis (CJ)

[..] a few days ago the Working Group on Syria, Propaganda and Media (WGSPM) published a document signed by a man named Ian Henderson, whose name is seen listed in expert leadership positions on OPCW documents from as far back as 1998 and as recently as 2018. It’s unknown who leaked the document and what other media organizations they may have tried to send it to. The report picks apart the extremely shaky physics and narratives of the official OPCW analysis on the gas cylinders allegedly dropped from Syrian government aircraft in the Douma attack, and concludes that “The dimensions, characteristics and appearance of the cylinders, and the surrounding scene of the incidents, were inconsistent with what would have been expected in the case of either cylinder being delivered from an aircraft,” saying instead that manual placement of the cylinders in the locations investigators found them in is “the only plausible explanation for observations at the scene.”

[..] the kindest possible interpretation of these revelations is that an expert who has worked with the OPCW for decades gave an engineering assessment which directly contradicted the official findings of the OPCW on Douma, but OPCW officials didn’t find his assessment convincing for whatever reason and hid every trace of it from public view. That’s the least sinister possibility: that a sharp dissent from a distinguished expert within the OPCW’s own investigation was completely hidden from the public because the people calling the shots at the OPCW didn’t want to confuse us with a perspective they didn’t find credible.

This most charitable interpretation possible is damningly unacceptable by itself, because the public should obviously be kept informed of any possible evidence which may contradict the reasons they were fed to justify an act of war by powerful governments. And there are many far less charitable interpretations. It is not in the slightest bit unreasonable to speculate that the ostensibly independent OPCW in fact serves the interests of the US-centralized power alliance, and that it suppressed the Henderson report because it pokes holes in the narratives that are used to demonize a longtime target for imperialist regime change. That is a perfectly reasonable possibility for us to wonder about, and the onus is now on the OPCW to prove to us that it is not the case.

Either way, the fact that the OPCW kept Henderson’s findings from receiving not a whisper of attention severely undermines the organization’s credibility, not just with regard to Douma but with regard to everything, including the establishment Syria narrative as a whole and the Skripal case in the UK. Everything the OPCW has ever concluded about alleged chemical usage around the world is now subject to very legitimate skepticism. “The leaked OPCW engineers’ assessment is confirmed as genuine, which means the final report actively concealed evidence that the Douma chemical attack was staged by jihadists and the White Helmets,” tweeted British journalist Jonathan Cook. “The OPCW’s other Syria reports must now be treated as worthless too.”

Read more …

“Both countries have borrowed themselves into a Twilight Zone of unpayable debt. Both countries are sunk in untenable economic and banking rackets to cover up their insolvency.”

Free For All (Jim Kunstler)

Here’s what will actually happen. These House majority committee chiefs are going to quit their blustering over the next week or so as they discover there is no political value — and plenty of political hazard — in extending the RussiaGate circus. In the meantime, a titanic juridical machine, already a’grinding, will discredit the whole sordid affair and send a number of hapless participants to the federal ping-pong academies. And by then, the long-suffering citizenry will barely give a shit because we will have entered the climactic phase of the Fourth Turning (or Long Emergency, take your pick), in which the operations of everyday business and governance in this country seriously crumble. The Golden Golem of Greatness will be blamed for most of that.


The internal contradictions of Globalism were already blowing up trade and financial relations between the US and China. The Trump tariffs just amount to a clumsy recognition of the fatal imbalances long at work there. As a 25 percent tax on countless Chinese products, the tariffs will punish American shoppers as much as the Chinese manufacturers. Trade wars have a way of escalating into more kinetic conflicts. The sad truth is that both China and the US are beset by dangerous fragilities. Both countries have borrowed themselves into a Twilight Zone of unpayable debt. Both countries are sunk in untenable economic and banking rackets to cover up their insolvency. China’s fate hangs on distant energy supply lines that run through bottlenecks like the Straits of Hormuz and the Straits of Molucca.

Read more …

They just wasted another 6 weeks, that’s all there is to say.

May And Corbyn Blame Each Other As Brexit Talks Collapse (G.)

The government and Labour have sought to blame each other after cross-party talks to find a compromise Brexit plan collapsed, leaving any remaining hopes of an imminent solution to the impasse in tatters. While both sides insisted the discussions had taken place in good faith, Theresa May said a sticking point had been Labour splits over a second referendum. Labour in turn said the government had been unwilling to compromise and that May’s imminent departure from Downing Street meant there was no guarantee any promises would be kept by a successor such as Boris Johnson. Nick Boles, the former Conservative MP who helped spearhead efforts to prevent a no-deal Brexit in March, said he now feared such a departure was almost inevitable when the EU27’s latest deadline of 31 October is reached.


“It’s game over,” he said. “We only won by one, and it’s very unclear that we would have the same level of Tory support, and for that matter Labour support. We are absolutely convinced that parliament will not find a way to stop no-deal Brexit.” The conclusion to six weeks of intermittent talks, which had angered many Conservative and Labour MPs who feared the nature of the compromise that might result, came with the release of a letter from Jeremy Corbyn to May on Friday. Despite praising the talks as constructive, the Labour leader wrote: “It has become clear that, while there are some areas where compromise has been possible, we have been unable to bridge important policy gaps between us. “Even more crucially, the increasing weakness and instability of your government means there cannot be confidence in securing whatever might be agreed between us.”

Read more …

We’re going to have Boris Johnson next. That will not end well.

Tory Brexiteers Tell May: You Must Quit Now (Ind.)

Theresa May is facing growing clamour from within her own party to quit immediately as prime minister, after the collapse of Brexit talks with Labour sounded the death knell for her EU withdrawal plans. With Tories trailing in fifth place on a humiliating 9 per cent in one poll for next week’s European parliament elections, furious backbenchers predicted certain defeat when the Withdrawal Agreement Bill comes before the Commons in June. Brexiteers said there was no prospect of Ms May averting a “significant” rebellion by tacking towards them on totemic issues like the Irish backstop and free trade. “There’s nothing she can say,” said one former minister. “No one trusts her any more.”


[..] senior Leave-supporting backbenchers said she should scrap the legislation and hand over immediately to a new leader.Nigel Evans urged her to announce she was not waiting three weeks to discuss the timetable for her departure, as agreed with the chair of the influential 1922 Committee Sir Graham Brady, but would go “forthwith”. Asked if the declaration should come within days, the committee’s joint secretary replied: “I would like her to do it now … It’s only right that the new leadership has the opportunity to become established and form a new cabinet prior to us going into the summer recess.” Former minister David Jones said the PM should recognise that “now is the time that she should stand down”. “On the Conservative benches, most people now want the PM to step down as quickly as possible,” he told The Independent. “Prolonging this is just wasting time at a time when we don’t have much time to waste.”

Read more …

A must read, I gather.

A Brief History Of Doom: The New Kindleberger And Mackay (Steve Keen)

“If readers take one lesson from this book, I hope it is this: when it comes to financial crises, we’re not in the grip of unseen and hopelessly complex forces. Such crises are neither inevitable nor unpredictable. Runaway private debt and the resulting overcapacity does a better job than any other variable in explaining and predicting financial crises. It is our job to heed those danger signs.” (Vague 2019, p. ix)


This brief book (196 pages, excluding endnotes) on the history and causes of financial crises usurps Kindleberger’s Manias, Panics, and Crashes (Kindleberger 1978) and Mackay’s Memoirs of Extraordinary Popular Delusions and the Madness of Crowds (Mackay 1852) as the definitive work on this vital topic. It surpasses both these works for several reasons, not the least of which is the career and experience of the author. Mackay was a journalist and gifted writer; Kindleberger, an economist with an impressive record in both public service and academia. Both of them observed financial manias and crashes from their respective professional perches, outside the financial system itself.

Vague is an ex-banker, whose fortune was carved in the financial crisis emanating from the bursting of the 1979 oil shock bubble, whose hands-on management established two of America’s biggest consumer credit card companies (First USA, which he sold Bank One in 1997, and Juniper Financial, which he sold to Barclays PLC in 2004), and whose professional access to the voluminous data he saw on the explosion in mortgage debt – from $6 trillion in 2002 to $9 trillion in 2005 – led him to anticipate the Subprime Crisis and exit banking altogether. Vague has seen financial crises from the inside – and not merely survived but prospered.


In the hands of most Americans, this experience would lead to a “How to Get Rich” book. Vague’s ambition with this book is very different: to make society richer by understanding what causes financial crises, and thereby preventing them in the first place. Vague’s banker’s perspective gives him an incomparable advantage over not only MacKay and Kindleberger, but over me as well: having seen the booms and busts of banking from the inside, he knew where to look, and what to look for. For example, I dismissed the possibility of a real-estate bubble as a catalyst to the Great Depression, because Robert Shiller’s data (Figure 1) seemed to show that house prices were flat during the 1920s, and if anything, declining. That was as far as my investigations went.

Read more …

He must be on some hit lists.

Cristiano Ronaldo Donates $1.5 million to Palestine for Ramadan (21Wire)

Portuguese footballer and Juventus striker , Cristiano Ronaldo, has donated US $1.5 million to people of Palestine during the holy month of Ramadan. Regarded as one of the world’s greatest-ever professional football players, Ronaldo is said to have made his generous donation in solidarity with the Palestinian people suffering en mass, and in particular the millions who are currently suffering under the brutal punitive ‘air, land and sea’ economic and humanitarian blockade in Gaza – where Israeli forces have been conducting regular bombing raids which have killed thousands of innocent civilians in recent years. Although sports media rarely highlights this facet of the soccer star, Ronaldo has always been close to the Palestinian cause, publicly rejecting the illegal and genocidal incursions of the Israeli regime on several occasions.


In November 2012, while Gaza was being blanketed with bombs by Israel in their Operation Pillar of Defense, Ronaldo auctioned off his Golden Boot, the prestigious award given to the best European strikers of the season, to raise funds that were later donated to the Palestinian children. The following year, in March 2013, at the end of the match between Portugal and Israel for the 2014 World Cup qualifiers, he refused to exchange his shirt with an Israeli player. Although he shook hands, he excused himself by explaining that he could not wear a shirt with that country’s flag, as reported in the press.

Read more …

Keep driving.

Air Pollution May Be Damaging ‘Every Organ In The Body’ (G.)

Air pollution may be damaging every organ and virtually every cell in the human body, according to a comprehensive new global review. The research shows head-to-toe harm, from heart and lung disease to diabetes and dementia, and from liver problems and bladder cancer to brittle bones and damaged skin. Fertility, foetuses and children are also affected by toxic air, the review found. The systemic damage is the result of pollutants causing inflammation that then floods through the body and ultrafine particles being carried around the body by the bloodstream. Air pollution is a “public health emergency”, according to the World Health Organization, with more than 90% of the global population enduring toxic outdoor air. New analysis indicates 8.8m early deaths each year – double earlier estimates – making air pollution a bigger killer than tobacco smoking.


But the impact of different pollutants on many ailments remains to be established, suggesting well-known heart and lung damage is only “the tip of the iceberg”. “Air pollution can harm acutely, as well as chronically, potentially affecting every organ in the body,” conclude the scientists from the Forum of International Respiratory Societies in the two review papers, published in the journal Chest. “Ultrafine particles pass through the [lungs], are readily picked up by cells, and carried via the bloodstream to expose virtually all cells in the body.” Prof Dean Schraufnagel, at the University of Illinois at Chicago and who led the reviews, said: “I wouldn’t be surprised if almost every organ was affected. If something is missing [from the review] it is probably because there was no research yet.”

Read more …

 

Australia has elections this weekend

https://twitter.com/i/status/1129530852000403457