Feb 182019
 
 February 18, 2019  Posted by at 10:25 am Finance Tagged with: , , , , , , , , , , , , , ,  


Pablo Picasso Face female study 1925

 

Yellow Vests Mark 3 Months of Marches, France investigates Antisemitism (AP)
Two Trump Cabinet Officials Were “Ready To Support” 25th Amendment Coup (ZH)
Trump To Veto Disapproval Of Emergency (AP)
Tories Under Fire For Dismissing March For 2nd Brexit Referendum (Ind.)
New Zealand To Target Online Giants With Digital Tax (R.)
Facebook Labelled ‘Digital Gangsters’ By UK Report On Fake News (G.)
UK Must Investigate Foreign Influence And Voter Manipulation In Brexit Vote (Ind.)
Australia Claims Foreign Government Hacked Major Political Parties (R.)
Varoufakis: ECB Profits Should Be Used For A European Poverty Fund (KTG)
Venezuela Denies EU Lawmakers Entry Given ‘Conspiratorial Motives’ (R.)
Virtual Fences, Robot Workers, Stacked Crops: Farming In 2040 (O.)
Return Of Wolves To Germany Pits Farmers Against Environmentalists (G.)
UK Plans To Make Plastic Packaging Producers Pay For Waste Disposal (R.)
Plastic Chemicals Discovered Inside Bird Eggs From Remote Arctic (Ind.)

 

 

How state propaganda works (and is disseminated by sympathetic media).

“The scene was a vicious verbal interlude..” “The verbal attack on Finkielkraut could risk further eroding the movement’s initially strong public support. “The yellow vest movement [..] is now marked by growing divisions within its ranks.”

In reality, the French see young people with their eyes missing due to Macron-ordered rubber bullets. The only support that’s eroding is that for Macron.

Yellow Vests Mark 3 Months of Marches, France investigates Antisemitism (AP)

Paris judicial authorities opened an investigation Sunday into anti-Semitic remarks hurled at a noted philosopher during a yellow vest protest, an incident that raised national concerns about the movement’s ascendant radical fringe. The Paris prosecutor’s office said the investigation was being conducted into “public insult based on origin, ethnicity, nationality, race or religion.” A band of men taunted philosopher Alain Finkielkraut on the sidelines of a protest through the French capital Paris on Saturday. “Go back to Tel Aviv,” ”Zionist,” and “France is our land” were among the insults captured on video. Finkielkraut, a member of the prestigious Academie Francaise, told French television station LCI on Sunday he doesn’t intend to file a complaint.

The scene was a vicious verbal interlude as thousands of protesters made their way through the Left Bank for the 14th Saturday in a row of demonstrations by the yellow vest movement. Several thousand protesters gathered again in Paris on Sunday to mark the three-month anniversary of the yellow vest movement’s protests, which started Nov. 17 with nationwide protests of fuel tax increases. [..] The verbal attack on Finkielkraut could risk further eroding the movement’s initially strong public support. The yellow vest movement [..] is now marked by growing divisions within its ranks. One yellow vest protester who has tried to put together a candidates list for the European Parliament election was heckled Sunday by detractors.

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Government officials vs a newly elected president. Must be a first. Patriots vs voters.

Two Trump Cabinet Officials Were “Ready To Support” 25th Amendment Coup (ZH)

Two Trump Cabinet officials were “ready to support” a DOJ scheme to invoke the 25th Amendment to remove President Trump, according to Bloomberg and Fox News, citing closed-door testimony from the FBI’s former top lawyer, James Baker – who said that the claim came from Deputy Attorney General Rod Rosenstein. “The testimony was delivered last fall to the House Oversight and Judiciary Committees. Fox News has confirmed portions of the transcript. It provides additional insight into discussions that have returned to the spotlight in Washington as fired FBI Deputy Director Andrew McCabe revisits the matter during interviews promoting his forthcoming book.” -Fox News

While Baker did not identify the two Cabinet officials, he says that McCabe and former FBI lawyer Lisa Page approached him to relay their conversations with Rosenstein, including their discussions of the 25th Amendment scheme. “I was being told by some combination of Andy McCabe and Lisa Page, that, in a conversation with the Deputy Attorney General, he had stated that he – this was what was related to me – that he had at least two members of the president’s Cabinet who were ready to support, I guess you would call it, an action under the 25th Amendment,” Baker told the Congressional committees. The 25th Amendment allows for the removal of a sitting president from office through various mechanisms – including the majority of a president’s Cabinet agreeing that the commander-in-chief is incapable of performing his duties.

Rosenstein – who is slated to leave the Justice Department in the near future, has denied the claims. Baker said McCabe was cool, calm and collected throughout the discussions, telling lawmakers: “At this point in time, Andy was unbelievably focused and unbelievably confident and squared away. I don’t know how to describe it other than I was extremely proud to be around him at that point in time because I thought he was doing an excellent job at maintaining focus and dealing with a very uncertain and difficult situation. So I think he was in a good state of mind at this point in time.” McCabe, meanwhile told “60 Minutes” in an interview set to air Sunday night that Rosenstein was concerned about Trump’s “capacity.”

According to McCabe, Rosenstein “raised the issue and discussed it with me in the context of thinking about how many other cabinet officials might support such an effort,” adding that Rosenstein was “definitely very concerned about the president, about his capacity and about his intent at that point in time.” “Rosenstein was actually openly talking about whether there was a majority of the cabinet who would vote to remove the president?” asks CBS News anchor Scott Pelly, to which McCabe replied: “That’s correct. Counting votes or possible votes.”

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Inevitable, so let’s have it.

“..there do not yet appear to be enough votes to override a veto by the president.”

Trump To Veto Disapproval Of Emergency (AP)

President Donald Trump is prepared to issue the first veto of his term if Congress votes to disapprove his declaration of a national emergency along the U.S.-Mexico border, a top White House adviser said on Sunday. White House senior adviser Stephen Miller told “Fox News Sunday” that “the president is going to protect his national emergency declaration.” Asked if that meant Trump was ready to veto a resolution of disapproval, Miller added, “He’s going to protect his national emergency declaration, guaranteed.” The West Wing is digging in for fights on multiple fronts as the president’s effort to go around Congress to fund his long-promised border wall faces bipartisan criticism and multiple legal challenges.

After lawmakers in both parties blocked his requests for billions of dollars to fulfill his signature campaign pledge, Trump’s declared national emergency Friday shifts billions of federal dollars earmarked for military construction to the border. California Attorney General Xavier Becerra told ABC’s “This Week” that his state would sue “imminently” to block the order, after the American Civil Liberties Union and the nonprofit watchdog group Public Citizen announced Friday they were taking legal action. Democrats are planning to introduce a resolution disapproving of the declaration once Congress returns to session and it is likely to pass both chambers. Several Republican senators are already indicating they would vote against Trump — though there do not yet appear to be enough votes to override a veto by the president.

Read more …

“The next demonstration will be staged in London on Saturday 23 March, just six days before the UK’s scheduled departure from the EU.”

Tories Under Fire For Dismissing March For 2nd Brexit Referendum (Ind.)

Senior Tories were accused of “sniping” at the huge numbers of campaigners set to take part in a march for a fresh Brexit referendum, a day after it was announced. A Brexit minister, Martin Callanan, came under fire after he branded next month’s Put It To The People march – part of The Independent’s Final Say campaign – “desperate stuff”. James Cleverly, a Conservative vice-chairman, tweeted sarcastically: “The only thing that might make me change my mind is a bloke in a blue hat with yellow stars shouting ‘Stop Brexit’. Yep, that might do it.” The reaction came despite last October’s demonstration attracting up to 700,000 people in London alone – and fuelling support for a new referendum at Westminster.

Anna Turley, a Labour supporter of the People’s Vote campaign, said the two men were “sniping at the huge numbers of people in this country who want to make their voice heard”. “Ministers should listen to the calls of those who feel betrayed by broken Brexit promises, worried about the damage caused by either this deal or no deal, as well as those who just want clarity and closure about our country’s direction – rather than years more of argument and division,” she said. The next demonstration will be staged in London on Saturday 23 March, just six days before the UK’s scheduled departure from the EU.

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Meaningless without including other taxes, income, wealth, tec.

New Zealand To Target Online Giants With Digital Tax (R.)

New Zealand said on Monday that it plans to update its laws so it can tax revenue earned by multinational digital firms such as Google, Facebook and Amazon, extending a global effort to bring global tech giants into the tax net. Prime Minister Jacinda Ardern said the cabinet had agreed to issue a discussion document about how to update the country’s tax framework to ensure multinational companies pay their fair share. “Our current tax system is not fair in the way it treats individual tax payers, and how it treats multinationals,” Ardern told reporters at her weekly post-cabinet news conference.

Highly digitalized companies, such as those offering social media networks, trading platforms, and online advertising, currently earn a significant income from New Zealand consumers without being liable for income tax, the government said in a statement released after the announcement. The value of cross-border digital services in New Zealand is estimated to be around NZ$2.7 billion ($1.86 billion). The revenue estimate for a digital services tax is between NZ$30 million and NZ$80 million, Finance Minister Grant Robertson said in the statement. Digital services taxes (DST) are generally charged at a flat rate of two to three percent on the gross revenue earned by a multinational company in that country. A number of countries including the U.K, Spain, Italy, France, Austria and India have enacted or announced plans for a DST. The EU and Australia are also consulting on a DST.

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Anything here that money won’t buy?

Facebook Labelled ‘Digital Gangsters’ By UK Report On Fake News (G.)

Facebook deliberately broke privacy and competition law and should urgently be subject to statutory regulation, according to a devastating parliamentary report denouncing the company and its executives as “digital gangsters”. The final report of the Digital, Culture, Media and Sport select committee’s 18-month investigation into disinformation and fake news accused Facebook of purposefully obstructing its inquiry and failing to tackle attempts by Russia to manipulate elections. “Democracy is at risk from the malicious and relentless targeting of citizens with disinformation and personalised ‘dark adverts’ from unidentifiable sources, delivered through the major social media platforms we use every day,” warned the committee’s chairman, Damian Collins.

The report:
• Accuses Mark Zuckerberg, Facebook’s co-founder and chief executive, of contempt for parliament in refusing three separate demands for him to give evidence, instead sending junior employees unable to answer the committee’s questions.
• Warns British electoral law is unfit for purpose and vulnerable to interference by hostile foreign actors, including agents of the Russian government attempting to discredit democracy.
• Calls on the British government to establish an independent investigation into “foreign influence, disinformation, funding, voter manipulation and the sharing of data” in the 2014 Scottish independence referendum, the 2016 EU referendum and the 2017 general election.

The committee argues that, had Facebook abided by the terms of an agreement struck with US regulators in 2011 to limit developers’ access to user data, the scandal would not have occurred. “The Cambridge Analytica scandal was facilitated by Facebook’s policies,” it concludes. The 108-page report makes excoriating reading for the social media giant, which is accused of continuing to prioritise shareholders’ profits over users’ privacy rights. “Facebook continues to choose profit over data security, taking risks in order to prioritise their aim of making money from user data,” the report states, accusing the company of covering up leaks of user data. “It seems clear to us that Facebook acts only when serious breaches become public.”

Zuckerberg is also personally criticised by the committee in scathing terms, with his claim that Facebook has never sold user data dismissed by the report as “simply untrue”. “Mark Zuckerberg continually fails to show the levels of leadership and personal responsibility that should be expected from someone who sits at the top of one of the world’s biggest companies,” Collins added in a statement. Watson agreed. “Few individuals have shown contempt for our parliamentary democracy in the way Mark Zuckerberg has,” he said. “If one thing is uniting politicians of all colours during this difficult time for our country, it is our determination to bring him and his company into line.”

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I know you thought this was about the CIA. But no, it’s Russia again.

UK Must Investigate Foreign Influence And Voter Manipulation In Brexit Vote (Ind.)

Theresa May must launch an independent investigation into “foreign influence and voter manipulation” in the Brexit vote, a committee of MPs says today, amid growing evidence of lawbreaking by Leave campaigners. A highly critical report – which warns “democracy is at risk” from rogue practices on social media – turns its fire on the prime minister for the failure to probe their effect on the referendum result. No wide-ranging investigation has taken place, despite the main Vote Leave campaign, fronted by Boris Johnson and Michael Gove, being found by the Electoral Commission to have broken the law. The National Crime Agency, meanwhile, has launched a separate investigation into evidence of “multiple” criminal offences committed by Arron Banks and the Leave.EU campaign.

But Downing Street has fought off calls for a “Mueller-style” inquiry, on the scale of the US probe into alleged collusion with Russia by Donald Trump’s presidential campaign. Now the Digital, Culture, Media and Sport Committee has insisted an inquiry must be carried out, also looking into the 2017 general election and the 2014 Scottish referendum. It would establish “what actually happened with regard to foreign influence, disinformation, funding, voter manipulation, and the sharing of data, so that appropriate changes to the law can be made and lessons can be learnt for future elections and referenda”. Damian Collins, the committee’s Conservative chair, urged the prime minister to come clean about whether “Russian interference in UK politics” was being probed.

“We want to find out what was the impact of disinformation and voter manipulation on past elections including the UK referendum in 2016, and are calling on the government to launch an independent investigation,” he said. [..] The crisis emerged after the Brexit referendum, leading to the finding against Vote Leave which has been referred to the police for busting spending limits Crucially, the cash was used to pay data firm Aggregate IQ and – a whistleblower and an Oxford professor argue – potentially enabled it to precisely target enough voters on social media to have swayed the Brexit result. Mr Banks, Nigel Farage’s ally, could receive a two-year prison sentence if he is found to have “knowingly concealed” that an Isle of Man company handed up to £8m to Leave.EU – which would have been outlawed as a foreign donation.

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Saw that headline and though: elections must be coming up. And yes.

Australia Claims Foreign Government Hacked Major Political Parties (R.)

A cyber attack on Australian lawmakers that breached the networks of major political parties was probably carried out by a foreign government, Prime Minister Scott Morrison said on Monday, but did not name any suspects. As Australia heads for an election due by May, lawmakers were told this month told to urgently change their passwords after the cyber intelligence agency detected an attack on the national parliament’s computer network. The hackers breached the networks of major political parties, Morrison said, as he issued an initial assessment by investigators. “Our cyber experts believe that a sophisticated state actor is responsible for this malicious activity,” he told parliament.

“We also became aware that the networks of some political parties, Liberal, Labor and Nationals have also been affected.” Morrison did not reveal what information was accessed, but he said there was no evidence of election interference. Investors are still securing local networks, said Alastair MacGibbon, head of the Australian Cyber Security Centre, the government department responsible for online security. “Our political institutions represent high-value targets,” MacGibbon told reporters in the capital, Canberra.

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Problem is he doesn’t stand a chance of winning anything.

Varoufakis: ECB Profits Should Be Used For A European Poverty Fund (KTG)

The enfant terrible of euro-economics and former Greek Finance Minister Yanis Varoufakis reloaded his gun and shot: Profits from the European Central Bank should be used for a European Poverty Fund. Speaking at an event of his party DiEM25 in Thessaloniki, he said about the “New Deal in Europe and the World”, that Europe is currently facing four crises: public-private debt, very low investment, banking system and rising poverty. Especially about poverty, Varoufakis, revealed that last year the European Central Bank had profits of €91 billion, which are distributed to the finance ministries of countries with surplus. “A Fund to Combat Poverty could be founded tomorrow morning, in order to support the poor European family and this would be an integrative move and the fight against intolerance and anti-Europeanism and fascism.”

Addressing his Greek audience, he said “in DieM25/MeRA25 we are deeply European, we are criticizing the euro, we want to upgrade it, we are the only ones that have proposals to change the architecture of the euro. We want to restructure the euro. We do not propose exit from the euro, we are not threatening to exit the euro. This is a fact. He criticized the economic policies of his former SYRIZA comrades saying ‘“It is impossible at this time to have any recovery in Greece when small and medium-size businesses pay 75% of their profits to the state. You can not have a 100% pre-payment of the tax. You do that in a country when it is to destroy it.” [..] “Every eurozone country should have a parallel payment system,” he underlined.

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Well, they did vote to recognize Guiado as head of state.

Venezuela Denies EU Lawmakers Entry Given ‘Conspiratorial Motives’ (R.)

Venezuela denied a group of European Parliament deputies entry into the country on Sunday, arguing they had “conspiratorial motives” for flying to Caracas in the throes of a political crisis. The European Parliament last month joined a slew of Western nations in recognizing Venezuelan opposition chief Juan Guaido as interim head of state after President Nicolas Maduro won a second term in an election last year that critics denounced as a sham. The four deputies from the center-right European People’s Party (EPP) were traveling to Venezuela to meet with Guaido, one of them said in a video distributed via social media.

“They have retained our passports, they haven’t communicated the reason for our expulsion,” Esteban González Pons said. Venezuelan Foreign Minister Jorge Arreaza said on his Twitter account that the lawmakers had been advised several days ago they would not be allowed entry into the South American country. Venezuela would “not permit the European extreme right to disturb the peace and stability of the country with another of its rude, interventionist actions,” he wrote.

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Wonder how much money Monsanto has paid into the report.

..new biotech production techniques not only help preserve crops but also make them more nutritious.

..opportunities for British food and farming to increase productivity ..

Virtual Fences, Robot Workers, Stacked Crops: Farming In 2040 (O.)

It is 2040 and Britain’s green and pleasant countryside is populated by robots. We have vertical farms of leafy salads, fruit and vegetables, and livestock is protected by virtual fencing. Changing diets have seen a decline in meat consumption while new biotech production techniques not only help preserve crops but also make them more nutritious. This is the picture painted in a report from the National Farmers Union which attempts to sketch out what British food and farming will look like in 20 years’ time. “The Future of Food 2040 report is a catalyst to encourage us all to start the debate about our food and our future so we can plan ahead,” said Andrea Graham, NFU’s head of policy services and author of the report, who interviewed 50 experts across Britain’s food chain to gauge their views.

“It is also a reminder for government, at a critical time in British history, to make domestic food production a strategic priority in all policy making.” While some of the predictions may seem a long way off, others are already in their infancy. “Even now, there are technologies being developed that can care for crops on a plant-by-plant basis or control the grazing of cattle without physical fences, and by 2040 this technology will be commonplace in farming,” Graham said. The British farming sector will need to be more efficient if it is to meet a key NFU goal of producing net zero greenhouse gas emissions by 2040. “Over the next 20 years we will face potentially seismic changes in all aspects of society,” Graham added. “An increase in the global population and the need to mitigate climate change will provide opportunities for British food and farming to increase productivity and reduce its impact on the environment.”

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Food must come from sterile enviroments. No life allowed.

Return Of Wolves To Germany Pits Farmers Against Environmentalists (G.)

More than a century ago, wolves were hunted to extinction in Germany. These days, they’re back – and their presence is a source of political strife. Wolf attacks on livestock increased drastically in 2017, according to government statistics released at the weekend: they carried out 472 attacks, an increase of 66% over the previous year. The number of killed, injured or missing livestock – mostly sheep and goats – rose 55%, to 1,667. The issue of how to deal with wolves is pitting farmers who want to protect their livestock against environmentalists who prioritise the protection of vulnerable species. Julia Klöckner, the agriculture minister, said the latest figures proved the government needed to act.

Germany should shift its regulations to make it legal to remove individual wolves from a pack, she told the Neue Osnabrücker Zeitung. For more than a century, wolves were extinct in Germany. In recent years, however, especially since the country’s reunification in 1990, the animals have been reintroduced and are slowly making a comeback. They are especially prevalent in the former East German states, since many have crossed the border with Poland. Though environmentalists have lauded the return of the wolf, not everyone is happy that they are back – or that they have been awarded protected status. EU regulations outlaw the killing of wolves, allowing exceptions only when there is “no satisfactory alternative” or if people are in danger.

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Instead of simply saying don’t make the stuff anymore. London must think Brits are incredibly stupid people.

UK Plans To Make Plastic Packaging Producers Pay For Waste Disposal (R.)

Britain is to set out plans to overhaul its recycling system on Monday, including making plastic packaging producers pay the full cost of dealing with their waste and introducing a deposit return scheme for cans and bottles. The plans, which also aim to make household rubbish collections more consistent around the country, will be introduced by Environment Secretary Michael Gove and go out for consultation for three months. “We will introduce a world-leading tax to boost recycled content in plastic packaging, make producers foot the bill for handling their packaging waste, and end the confusion over household recycling,” Gove said in a statement. The tax will be payable by producers who fail to use enough recycled material.

At present, producers pay only around 10 percent of the cost of dealing with plastic packaging waste, the environment ministry said. Under an Extended Producer Responsibility (EPR) system, the industry will pay higher fees if its packaging is harder to reuse or recycle. EPR for packaging will raise between 800 million and one billion pounds a year for recycling and disposal, the ministry said. Government will seek views on two options for how a deposit return scheme might work for cans and glass or plastic bottles, it added. The first would target a large amount of drinks on the market, irrespective of container size. The second, known as the “on-the-go” model, would concern smaller container sizes – those most often sold for consumption outside the home.

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These birds spend most of their lives feeding at sea, returning to their nests only to breed.

Plastic Chemicals Discovered Inside Bird Eggs From Remote Arctic (Ind.)

Chemicals from plastics have been found inside the eggs of seabirds living in remote Arctic colonies, in the latest sign of pollution contaminating the furthest reaches of the planet. Scientists were concerned by the traces of phthalates, hormone-disrupting chemicals that have been banned from children’s toys due to their potential “gender-bending” effects. These substances are routinely applied to many plastic products, and probably came from the bottle tops and cigarette butts these seabirds often eat after mistaking them for food. The eggs were taken from northern fulmars living on an island in Lancaster Sound, more than 100 miles away from the nearest human settlement.

In a preliminary study, Dr Jennifer Provencher of the Canadian Wildlife Service tested the eggs of five fulmars and found phthalates in one, but warned the problem is likely to be far more pervasive. “These are some of the birds who have the lowest levels of accumulated plastic,” explained Dr Provencher. If fulmar colonies were tested in the North Sea, where levels of plastic consumption are far higher, she said the results could be far more dramatic. “Now the thing is to look at other populations and to see if they have the same chemicals, or other chemicals,” she said. In another study, Dr Provencher and her colleagues examined the eggs of both fulmars and black-legged kittiwakes, and found traces of more chemicals known as UV stabilisers and antioxidants. “We are finding multiple plastic-derived contaminants that are maternally transferred to the egg,” she said. “It’s really tragic.”


Scientists studied the eggs of northern fulmars from an Arctic island in Canada’s Lancaster Sound (Getty/iStock)

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Feb 172019
 
 February 17, 2019  Posted by at 11:19 am Finance Tagged with: , , , , , , , , , , , , ,  


Jean-François Millet The Gleaners 1857 (see more in comments section)

 

Macron Condemns Antisemitic Abuse During Gilets Jaunes Paris Protest (AFP)
French Police Fire Tear Gas As Latest ‘Yellow Vest’ Protests Turn Violent (R.)
Yellow Vests Who Have Lost Eyes, Limbs Demand Justice From Macron (RT)
Act XIV: The Last Saturday Of ‘Yellow Vest’ Protests In France? (Local)
Remainers Plan Mass March And Key Vote In Last Days Before Brexit (G.)
IS Caliphate On Brink Of Defeat In Syria As Trump Urges Europe To Do More (R.)
Amazon Paid No Federal Taxes On $11.2 Billion In Profits Last Year (WaPo)
Spain Heads Into Election Unknown As PM Runs Out Of Road (G.)
Catalan Separatists Stage Mass Anti-Trial Protest In Barcelona (BBC)
Mass Restoration Of World Forests Would Cancel Out Decade Of Emissions (Ind.)

 

 

After weeks of finding it hard to find any coverage of the Yellow Vests protests, plenty articles today. How come? The media, and Macron, found an antisemitism angle to use against protesters. Interestingly, the second philosopher in a week spoke out, but this one against the movement. And what part is antisemitic? ‘Several’ protesters shouted “we are the people” and “France is ours”. And they called him a dirty Zionist. Which is more a condemnation of Israel Gaza and West Bank policies than of Judaism.

But antisemitism has proved a winning angle in western media. It’s how they got rid of Jeremy Corbyn, it’s what’s used against Trump with his entire Jewish family, and it’s what’s used against anyone critical of today’s version of apartheid.

So you would think if the incident were so terrible, Reuters, too, would loudly condemn it. Not one word (see article below). What do you think the odss are the French staged the so-called antisemitic incident?

Macron Condemns Antisemitic Abuse During Gilets Jaunes Paris Protest (AFP)

The French president, Emmanuel Macron, has condemned antisemitic abuse of a leading intellectual by gilets jaunes (yellow vests) protestors and said it would not be tolerated. Police intervened to protect philosopher and writer Alain Finkielkraut after he was targeted by a group of protestors on the fringe of a demonstration in central Paris on Saturday, according to videos posted on social networks. “The antisemitic insults he has been subjected to are the absolute negation of what we are and what makes us a great nation. We will not tolerate it,” Macron tweeted. “The son of Polish immigrants who became a French academician, Alain Finkielkraut is not only a prominent man of letters but the symbol of what the Republic allows everyone,” the president added in another tweet.

Several protestors shouted “dirty Zionist”, “we are the people” and “France is ours”, according to a video broadcast by Yahoo! News. “I felt absolute hatred and, unfortunately, this is not the first time,” Finkielkraut, 69, told the Journal du Dimanche newspaper. “I would have been afraid if there had not been the police, fortunately they were there.” He added that not all the demonstrators were hostile towards him and one even suggested he put on a vest and join the demonstration while another hailed his work. Finkielkraut has expressed his solidarity and sympathy with the gilets jaunes protestors from the outset but in an interview published on Saturday in Le Figaro, he criticised the leaders of the movement, saying that “arrogance has changed sides”.

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Reuters instead chooses to go after the protesters in general. “A poll this week showed dwindling support for the “yellow vests” demonstrations..”, that kind of approach, “..police also fired tear gas and charged, to disperse projectile-throwing demonstrators..” The general idea: the protesters are violent.

French Police Fire Tear Gas As Latest ‘Yellow Vest’ Protests Turn Violent (R.)

French police fired tear gas to disperse protesters who threw projectiles and set bins on fire in Paris, Lyon and Bordeaux on Saturday, as the 14th straight weekend of “yellow vest” protests took a violent turn in the afternoon. In Rouen in the north, four people were injured after a driver tried to force his way through a crowd of protesters, authorities said. Demonstrators gathered peacefully earlier in the day at the Arc de Triomphe in Paris, a flashpoint of clashes with the police in the early days of the protests, before marching toward the Eiffel Tower. Later in the afternoon, police and hooded protesters clashed at the Esplanade des Invalides in central Paris where the march was expected to end, forcing some into adjoining streets where some skirmishes were reported.

In Bordeaux and Lyon, police also fired tear gas and charged, to disperse projectile-throwing demonstrators after bins were set on fire and properties destroyed. Protesters tried to block a depot operated by online retail giant Amazon and some threw stones at police in Toulouse in the south, BFM Television reported. A poll this week showed dwindling support for the “yellow vests” demonstrations, named for motorists’ high-visibility jackets, which began in November over fuel taxes and morphed into a more general revolt against politicians and a government they see as out of touch.

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But reality in France is not what the MSM report it is.

“France is likely witnessing the worst non-wartime bloodshed since the Paris Commune massacre of 1871.”

Yellow Vests Who Have Lost Eyes, Limbs Demand Justice From Macron (RT)

France gathered for the 14th week of Gilets Jaunes protests, with the injury toll of the worst civil unrest in decades now resembling that of a small war. Yet despite pleas from victims, Emmanuel Macron is tightening the screws. “This is not normal. We are in France, one of the oldest and best democracies in the world,” says Fiorina Jacob Lignier, who lost her eye at a demonstration in Paris on December 8. “We usually condemn from afar other countries where this occurs, that this is happening here is unbelievable.” Lignier, a 20-year-old philosophy student, traveled from the northern city of Amiens to march on the Champs-Elysees to protest against fuel taxes with her boyfriend, Jacob Maxime.

He told RT that they were marching with a column of peaceful demonstrators, when a group of masked radicals began to vandalize a shopfront more than 50 yards away. The police “began shooting ‘Flash Balls’ and throwing grenades in all directions,” during which the couple spent two hours “penned in between a line of gendarmes and a wall, with no chance to flee.” Lignier said the last thing she remembers was the cries of cops clearing the way for firemen, then a gas grenade hit her on the head, and she was on the ground. When she woke up, her nose was broken, her face swollen from fractures, and she couldn’t see through her left eye. Over the next 16 days, Lignier underwent two surgeries, and is still waiting for two more.

For most demonstrations anywhere in the West, Lignier’s story would have made her a poster girl for law enforcement excesses. Among the Gilets Jaunes, her case is just one of many. The sheer scale of concentrated peacetime violence since November is hard to comprehend. [..] While the May 1968 student and worker protests that upturned French history claimed four lives directly, [neurosurgeon Laurent] Thines believes the overall scope, length and intensity of violence was much more contained than the current chaos. If so, France is likely witnessing the worst non-wartime bloodshed since the Paris Commune massacre of 1871.


Protester Fiorina Jacob Lignier before and after she was struck by a police gas grenade.

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Moving from Saturday to Sunday? Will the movement survive it, or merely be divided? “Staging marches on Sunday will allow families to take their baby in strollers out in the street. I doubt Interior Minister Castaner will send cops out with water cannons and rubber bullets if we do..”

Act XIV: The Last Saturday Of ‘Yellow Vest’ Protests In France? (Local)

The southern city of Bordeaux is also expecting another weekend of protest and violence now that anti-capitalism group “black block” is set to join a demo called for 1pm Saturday at the city’s Place de la Bourse. The anarchist group, responsible for some of the violent incidents that have plagued recent gilets jaunes protests in the capital of Gironde, posted their participation on a Facebook group called “black yellow”, in which they also called for the yellow vests and the black blocks to join forces. A “yellow night” march is also planned to start at Paris’s Place de la République from 5pm onwards. Then there are figureheads of the group such as Eric Drouet who want the weekend rallies rallies in Paris to be moved to Sunday to commemorate the three-month “anniversary” of the movement, born on November 17.

The first of its kind will be held this Sunday at 11am at the Arc de Triomphe. This call for changing Saturday demos to Sundays has been replicated by other yellow vest figureheads such as Benjamin Cauchy, who thinks the marches should also return to their original place: France’s roundabouts. “Staging marches on Sunday will allow families to take their baby in strollers out in the street. I doubt Interior Minister Castaner will send cops out with water cannons and rubber bullets if we do,” he wrote on a Facebook post. “The movement wants to return to the city outskirts again, block major shopping centres, big national and international brands and disassociate itself from the thugs who remain in the city centres.”

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This is so late in the game I can’t help thinking of our economic model of ‘just-in-time delivery’.

Look, the French yesterday did their 14th consecutive demo. Britons haven’t even had one yet.

Remainers Plan Mass March And Key Vote In Last Days Before Brexit (G.)

Campaigners against Theresa May’s “my deal or no deal” Brexit strategy are planning to mobilise the public and politicians for a showdown over the UK’s future in Europe in the final six days before Britain is due to leave the EU, the Observer can reveal. The plans will involve a huge march in London on Saturday, 23 March, aimed at demonstrating the scale of public anxiety about the two Brexit options May is offering, which will conclude with speeches outside the Palace of Westminster. Hundreds of thousands are expected to attend. Then on 25 and 26 March, MPs of all parties say they will be ready to rally behind a “lethal” amendment that will allow May’s deal to be passed, but only on condition that it is first ratified and approved by the British people in a referendum. Such a referendum would require article 50 to be delayed.

If the British people reject May’s deal in that second public vote, the UK would in all probability stay in the EU on its current terms. MPs who backed Remain in the 2016 referendum – and who are appalled by May’s attempts to “run down the clock” in the hope of forcing parliament to vote for her hugely unpopular deal – believe that the two-pronged approach of involving the public and politicians has a good chance of averting a disastrous Brexit outcome, albeit at the 11th hour. While some at Westminster believe the chances of securing a second referendum have faded, supporters of the latest plans say the Commons will be most likely to back another public vote at the moment when a nervous nation will be on the brink of the biggest decision in its postwar history, one that will affect the futures of millions of British people. The UK is due to leave the EU on 29 March.

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Read quite a few pieces on this. Not one mention anywhere of the fact that Assad and Russia defeated ISIS, not the US.

IS Caliphate On Brink Of Defeat In Syria As Trump Urges Europe To Do More (R.)

U.S.-backed fighters in Syria are poised to capture Islamic State’s last, tiny enclave on the Euphrates, the battle commander said on Saturday, bringing its self-declared caliphate to the brink of total defeat as U.S. President Donald Trump spoke of “100 percent victory”. Jiya Furat said the Syrian Democratic Forces (SDF) had cornered the remaining militants in a neighborhood of Baghouz village near the Iraqi border, under fire from all sides. “In the coming few days, in a very short time, we will spread the good tidings to the world of the military end of Daesh,” he said, using the Arabic acronym for Islamic State. He was speaking after Trump said on Friday there would be “great announcements” about Syria over the next 24 hours.

Trump on Saturday said the caliphate was “ready to fall and that the United States was asking European allies to take back more than 800 Islamic State fighters captured in Syria and put them on trial. “The United States is asking Britain, France, Germany and other European allies to take back over 800 ISIS fighters that we captured in Syria and put them on trial,” he said in a Tweet. “The Caliphate is ready to fall. The alternative is not a good one in that we will be forced to release them… “….The U.S. does not want to watch as these ISIS fighters permeate Europe, which is where they are expected to go. We do so much, and spend so much – Time for others to step up and do the job that they are so capable of doing. We are pulling back after 100% Caliphate victory!”

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Right. What are we supposed to think when Jeff Bezos owned newspaper WaPo ‘attacks’ Jeff Bezos owned Amazon?

Amazon Paid No Federal Taxes On $11.2 Billion In Profits Last Year (WaPo)

Amazon, the e-commerce giant helmed by the world’s richest man, paid no federal taxes on profit of $11.2 billion last year, according to an analysis of the company’s corporate filings by the Institute for Taxation and Economic Policy (ITEP), a progressive think tank. Thanks to a variety of tax credits and a significant tax break available on pay handed out in the form of company stock, Amazon actually received a federal tax rebate of $129 million last year, giving it an effective federal tax rate of roughly -1 percent. It is the second year in a row the company has enjoyed a negative federal tax rate on a multibillion dollar profit. That would place the company’s effective federal tax rate below the rate paid by the poorest 20 percent of American households, which had an effective federal tax rate of 1.5 percent in 2015, according to the Tax Policy Center.

“Amazon pays all the taxes we are required to pay in the U.S. and every country where we operate, including paying $2.6 billion in corporate tax and reporting $3.4 billion in tax expense over the last three years,” said an Amazon spokeswoman, Jodi Seth, in a statement. “We have invested more than $160 billion in the U.S. since 2011, building a network of more than 125 fulfillment and sortation centers, air hubs and delivery stations as well as cloud-computing infrastructure and wind and solar farms.” Matthew Gardner, an ITEP senior fellow, called the situation a failure of American tax policy. “Their U.S. profits doubled in the last year. If anyone is ever going to be subject to the corporate income tax, you would hope it would be Amazon,” he said.

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Election April 28. Just a repeat of what went before.

Spain Heads Into Election Unknown As PM Runs Out Of Road (G.)

Spain is heading into what could be months of political uncertainty after its Socialist prime minister called a snap general election for April – the country’s third in less than four years – against the backdrop of a continuing Catalan secession crisis. It was always improbable that Pedro Sánchez, whose administration will be the shortest in Spain’s modern democratic history, would last long. He came to power in June only because his predecessor, the conservative Mariano Rajoy, lost a no-confidence vote after a string of corruption revelations about his People’s Party (PP).

But with just 24% of MPs, Sánchez needed the backing of the anti-austerity Podemos and, critically, Catalan nationalists – whose continuing demands for a referendum on independence were always going to fall foul of the Socialists’ pledge to defend Spain’s constitutional order. The prime minister’s fragile government finally ran out of options to stay in power this week after talks with Catalan separatist MPs broke down and they opted to join forces with the conservative opposition to block his budget proposals. What happens after the 28 April vote, which comes less a month before European, regional and local elections in May, is far from clear. Spain’s two most recent elections have both resulted in hung parliaments and weak governments – and the country’s political landscape is now even more fragmented.

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Some of the leaders could get 25 years in prison. That guarantees 25 years of unrest.

Catalan Separatists Stage Mass Anti-Trial Protest In Barcelona (BBC)

Demonstrators have marched en masse through Barcelona in protest at the trial of Catalan separatist leaders. Some 200,000 people took to the streets, waving Catalan flags and shouting pro-separatist slogans in support of the 12 leaders on trial. The trial, at Madrid’s Supreme Court, follows Catalonia’s independence referendum and failed attempt to secede from Spain in October 2017. If convicted, some of the leaders could face up to 25 years in prison. The Catalonia crisis is thought to be the most serious to hit Spain since the death of dictator Francisco Franco in 1975, and the country’s transition to democracy.

Soon after the referendum, Spanish authorities had declared that it was illegal, and the national government imposed direct rule over the semi-autonomous region. Prosecutor Fidel Cadena told the court that the separatists were promoting “subversion and rupture of the constitutional order”. Spain’s 1978 constitution speaks of “the indissoluble unity of the Spanish nation”. But the separatist leaders’ lawyer, Andreu Van Den Eynde, said the trial was about “the right to self-determination and the democratic principle”. “There is no international or European Union law that prevents the secession of a sub-state entity,” he added. “It does not exist.”

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Plant a Tree, Drive an SUV.

Mass Restoration Of World Forests Would Cancel Out Decade Of Emissions (Ind.)

Replenishing the world’s forests on a grand scale would suck enough carbon dioxide from the atmosphere to cancel out a decade of human emissions, according to an ambitious new study. Scientists have established there is room for an additional 1.2 trillion trees to grow in parks, woods and abandoned land across the planet. If such a goal were accomplished, ecologist Dr Thomas Crowther said it would outstrip every other method for tackling climate change – from building wind turbines to vegetarian diets. Lack of accurate information meant for years experts severely underestimated the number of trees on Earth.

Combining data from ground-based surveys and satellites, Dr Crowther and his colleagues arrived at a figure of three trillion – over seven times more than a previous Nasa estimate. The same approach, using machine learning and AI to analyse the enormous data set, allowed the researchers to predict the number of trees that could feasibly be planted in empty patches around the world.Dr Crowther said undervaluing trees means scientists have also been massively underestimating the potential for forests to combat climate change. Project Drawdown, a group that compares the merits of different emission-cutting techniques, currently places onshore wind power and improved recycling of fridges and air conditioners at the top of its list.

If rolled out on a realistic scale, each of these techniques would cut over 80 gigatons of emissions, while growing forests languishes in 15th place with a saving of just 18 gigatons. New research undertaken by Dr Crowther has used the 1.2 billion figure to estimate the potential scale of carbon capture that could be achieved by planting trees, and reveal their true potential. “There’s 400 gigatons now, in the 3 trillion trees, and if you were to scale that up by another trillion trees that’s in the order of hundreds of gigatons captured from the atmosphere – at least 10 years of anthropogenic emissions completely wiped out,” he said.

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Feb 112019
 


Johannes Vermeer Woman holding a balance 1662-63

 

 

The problem is, of course, that not only is economics bankrupt but it has always been nothing more than politics in disguise.
-Hazel Henderson

It’s often hard to understand how people can be aware of something but then fail to link it to a perfectly logical next step, or even multiple steps, and see where it fits in a larger scheme. There really are people out there, believe it or not, who look at economic and political developments over the past decade in any particular western country and believe they are unique to that country.

In reality, while things may play out slightly differently from one place to the other, the core causes of what’s been unfolding are the exact same ones in every single location. The reactions of incumbent politicians and economics has been the same as well: massage the numbers and the media, keep the rich and powerful happy, and make sure you and yours are on the ‘right side’ of the line.

In France, the main complaint that the Yellow Vests movement has now taken into its 13th consecutive weekend is crystal clear: people can’t pay their bills anymore. In the UK, austerity has demolished wages, social care, the NHS and much else. In the US, many millions of Americans can’t afford a $400 emergency payment, have ever scarcer access to healthcare and live from paycheck to paycheck.

Rinse and repeat for every western nation. The storylines vary somewhat, but they all tell the same tale, they could be, they are, chapters in the same book. And it makes one think if people are not connecting them.

Renowned French philosopher Michel Onfray summarizes Emmanuel Macron’s ongoing Yellow Vests (Gilets Jaunes) problem in these words: “Macron is trying to explain that there is not enough liberalist Europe in our lives, while the Gilets Jaunes are saying back to him that there is too much – not too much Europe, but too much liberalism.”

That is true in France, and it is also true in the UK, US and many other countries. People may not see liberalism as their problem, or even know, let alone understand the term, but what they do understand is they can’t pay their bills anymore. And Macron’s response, just like that of Washington and London, is more neoliberalism, or, again in Onfray’s words:

“This is an order that is strong against the week, as we can see on the streets, and weak against the strong”. [..] “The [liberal] Maastricht state is “cruel to those who carry the burdens of globalization” and “simply by declaring their poverty, these people have been ideologically criminalized.”

The sign in the picture below says: “We live in a world where those who make 100,000 a month convince those who make 1,800 that everything is going wrong because of those who live on 535 euro. And it works… (thanks to the media)” That’s what the Yellow Vests are about.

 


©Reuters/Gonzalo Fuentes

 

Again, it’s not about the term (neo-)liberalism, and it’s not some ideological question or fight, it’s about people not being able to pay their bills, and about politicians leaving them hanging all alone in a freezing wind. Nor is it a left against right issue. Western countries only have formerly left parties left; people who can’t pay their bills have been left to fend for themselves, no matter what they vote, and they finally understand that.

In Italy, traditional parties were all but wiped out to be replaced with the Lega and M5S. In France, ditto, but there Macron was the ‘new’ guy. In Germany, Merkel still holds the CDU/CSU ship somewhat steady, but she’s a goner and the right rises.

In Britain, there’s still only the two main parties, but they’re already history. It makes no difference what Jeremy Corbyn does or doesn’t do, he’ll be crushed by the betrayal Tony Blair inflicted on the nation in name of the same Labour Party now ‘led’ by Corbyn. While the Tories, like the Democrats in the US, rely on having taken over the media.

But it’s still a bit bewildering to see Andrew Rawnsley, the Observer’s “award-winning chief political commentator”, no less, write an entire article about what’s ailing British politics without linking this to the rest of the world, where the exact same issues play out. Of course it’s obvious that Brexit has become a divisive issue, not only in UK politics but also there, and not just between parties but also within them.

But if anything, Brexit is not a cause but a mere symptom of the British variety of the Great Discontent. The cause is that in Britain, too, people can’t pay their bills anymore. One country gets Trump, the next one Yellow Vests, and the third gets Brexit.

 

Why The Sickly Ugly Sisters Of UK Politics Deserve To Suffer The Splits

It is true that the big two can still gather up a lot of votes. After decades of decline in their combined vote share, it blipped up at the last election. But I don’t think that truly indicated renewed enthusiasm for either of them. It was a false positive induced by an electoral system that compels many voters to make a forced choice between the unappetising and the inedible.

It doesn’t mean that these nose-holding voters like what’s put before them. The current choice on offer is so disdained that, when pollsters ask who would make best prime minister, Theresa May and Jeremy Corbyn are regularly beaten into second and third place by Neither.

More than half of the electorate say their views are not properly represented by the existing political parties. Many politicians can’t stand the parties they represent. Some actively and publicly rage about what has become of them. I cannot recall a period in my lifetime when so many MPs have expressed so much disgust and despair with the state of their own parties.

Mr. Rawnsley manages to avoid any mention of anything at all existing outside of the British borders in the entire article, other than chiding Corbyn for failing to condemn Maduro. And you’re right, if that is the extent of your media, or even that of the formerly left-leaning bit, you may need an extra decade or so to figure out what the rest of the world already knows.

 

In the US, Trump replaced and/or took over the Republican Party, while Ocasio-Sanchez -AOC- is the only strong voice for the Democrats. Sure, she’s 29 and can’t run for the White House, but given that the alternative is Pelosi/Schumer and much more of that exact same cabal, anyone with presidential dreams had better get her blessings.

And sure, her Green New Deal/Dream can easily be dismissed as crazy, but pray tell what the difference is between how the Green New Deal might be financed, and how the Federal Reserve has financed its QE schemes. Perhaps the big difference is who profits; in one instance, the banks, in the other, society at large.

Or from a different perspective, there, too, AOC is like Trump: first, you start big and after, you see what can be done. Her version of the art of the deal. Besides, she has a plan, and nobody else has one. Except perhaps for Bernie, but his credibility was fatally wounded by letting the DNC waltz all over him in 2016.

And his age is not going to help: if you’re really fed up with what’s there because it’s disappointed you three ways to Sunday and now you can’t pay your bills, you’re not going to vote for grandpa, you’re going to go for someone young. Still, if Bernie hooks up with Ocasio, he may have a shot.

For all the others in the already crowded field, it’s what have you done for me lately, and they all either haven’t done dick all or they can’t string two words together without looking like someone wrote it all down for them. Look for a whole bunch from the Clinton/Wasserman mold (i.e. every candidate so far) to support the Green New Deal, but only to sabotage it, and Ocasio, at the first available opportunity.

 

If people already find the very large and very obvious political changes too much to comprehend, here’s some awkward news for you, and it’s not just that the media vs social media fight must inevitably lead to an ever stronger tsunami of ‘news’ overkill. Though that’s a big one: the media once upon a time reported the news, an outdated business model; today they don’t report the news, they manufacture it.

It’s more profitable because people are more gullible and/or they’re drowning in the giant overkill waves. I like that tsunami metaphor for news dissemination: people think social media will work to their advantage, like when the waters recede after a quake, that they have more control over their news. But then it all comes back in one big go and they’re completely lost.

The main upcoming event in media and politics won’t be the Great Political Discontent, it will be the economic one. Those who can’t pay their bills today will be the first victims of the massaged economic numbers finding themselves subject to gravity once again. Central banks won’t be able to prop up the zombies anymore, or the facade. The media will turn against the prevailing order when they deem it profitable. Or, rather, in a desperate attempt at survival.

What once was the middle class will join the various Yellow Vest groups around the world. So will whatever it is you call what took the place of the middle class. Certainly after their housing bubble mortgages become eligible for margin calls. Then all that’s left will be the very rich and the very poor. It’ll be back to the Middle Ages. Just with 20 times as many people. And with over half the wildlife gone, and the arable land, and 80% of insects gone since 1980 alone.

But yeah, we can also pretend that any problem we encounter can only possibly be a temporary blip, and there’s sunshine on the way around the corner, not pitchforks. Still, I’m pretty sure it’s precisely because we do nothing but pretend, that we gather all the problems in the first place that make one think of pitchforks, if even so briefly.

And I’m also pretty sure that we’re a lot less smart than we tell ourselves we are considering we kill off that without which we have zero chance of survival, and considering we let people starve in the richest human society the world has ever seen (make that: will ever see), but we still have trouble seeing our own noses, let alone following them.

We’re such blind masters of pretence that we hardly ever noticed the Great Discontent entering our nations, our communities and our homes. What then are the odds we will perceive the arrival of the Great Unraveling?

 

 

Feb 102019
 
 February 10, 2019  Posted by at 11:32 am Finance Tagged with: , , , , , , , , , ,  


Vincent van Gogh On the outskirts of Paris near Montmartre 1887

 

More Violence In Paris As Gilet Jaunes Protests Enter 13th Weekend (R.)
‘Macron Unleashed Violence Against Yellow Vests, Each Casualty Is On Him’ (RT)
Italy Saves Europe’s Dignity Over US Bullying Of Venezuela (ZH)
Plan To End Brexit Deadlock: Back May’s Deal, Then Hold People’s Vote (G.)
UK Cancels Brexit Ferry Contract Awarded To Firm With No Ferries (PA)
250 UK Firms Discuss Moving To Netherlands (G.)
Why The Sickly Ugly Sisters Of UK Politics Deserve To Suffer The Splits (G.)
MSM Fall in Lockstep for Cheap Trump/Rubio Venezuela Aid PR Stunt (Fair)
IMF Chief Lagarde Warns Of High Arab Public Debt (AFP)
Trump’s World Bank Pick, An Ally For The Lender’s Critics? (AFP)
Catalan Separatists Trial To Start: Not Just Legal Battle, Media One Too (AFP)
Carmageddon for Tesla Model 3: US Deliveries Plunge 55% to 60% (WS)

 

 

Another Sunday of looking in vain for Yellow Vests articles in the western media.

Best detail: the house of Macron’s leader of the National Assembly was attacked. Nobody knows who, nobody knows why. Yellow Vests? Who knows.

Well, Little Napoleon knows, apparently: “Nothing justifies intimidations and violence towards an elected official of the Republic..”

On the other hand, intimidations and violence towards his own people is fine. Gory photos galore of another guy who lost most of one of his hands to a police grenade.

More Violence In Paris As Gilet Jaunes Protests Enter 13th Weekend (R.)

Thousands of French gilets jaunes (yellow vests) demonstrators marched on Saturdayin what was their 13th weekend of action. There were scuffles in Paris and a demonstrator’s hand was mangled by a small explosive. There was also an overnight arson attack on the Brittany residence of the National Assembly head, Richard Ferrand, though no immediate link was made to the actions against President Emmanuel Macron. The demonstrations, named for high-visibility jackets worn by the protesters, began in mid-November over fuel taxes. They have since broadened into a more general revolt against a political class they view as out of touch with common people. In Paris, several thousand people marched on Saturday beside symbols of power such as the National Assembly and Senate.

The demonstrations were mainly peaceful, but some protesters threw objects at security forces, a scooter and a police van were set on fire and some shop windows were smashed. One participant’s hand was severely injured when he tried to pick up a so-called “sting-ball grenade” used by police to disperse crowds with teargas, a police source told Reuters. [..] Politicians from across the spectrum condemned the arson attack on the home of Ferrand, a close ally of Macron and president of parliament’s lower house. He published pictures on Twitter of a scorched living room, saying police found materials soaked in fuel. Ferrand said criminal intent was the likely cause, although the perpetrators’ identity was unclear. “Nothing justifies intimidations and violence towards an elected official of the Republic,” Macron tweeted in relation to the incident.

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Strong against the weak, and weak against the strong. Does Macron want to fight Onfray?

“Macron is trying to explain that there is not enough liberalist Europe in our lives, while the Gilets Jaunes are saying back to him that there is too much – not too much Europe, but too much liberalism.”

‘Macron Unleashed Violence Against Yellow Vests, Each Casualty Is On Him’ (RT)

One of France’s foremost public intellectuals has posted a 4,000-word screed exposing collusion between “the brute” Emmanuel Macron and the mainstream media to put down the Gilets Jaunes, all while blaming them for the violence. “Emmanuel Macron has chosen not to maintain order, but to suppress public protest,” writes Michel Onfray in his blog, in an attempt at a definitive account of the protests that have gripped France since November. “Intentionally, the president did not restrain the violence of protesters, and unleashed it on the part of the authorities. As the head of state, he carries responsibility for choosing repressive measures, so every single injury sustained is on him.” A household name in France, Onfray is the author of over 100 books on subjects ranging from philosophy to religion to politics, many of them non-fiction bestsellers.

He is also the founder of a tuition-free private university in Caen, which is part-funded by his publications. He is one of the most respected figures to try to give an overview of the crisis that goes beyond headlines and political allegiances. Onfray writes that the protest did not begin as a “peasants’ revolt of disgruntled right-wingers” refusing to pay an environmental fuel tax – as it is being portrayed by newspapers – but was simply a result of ordinary Frenchmen saying, “We cannot pay!” Instead of listening, however, Macron decided to escalate the conflict “using it for his own benefits, and the interests of the Maastricht camp [the pro-EU establishment].” The philosopher, who has previously aligned with leftist movements, details six “symbolic slaps” the president dealt out to the protesters, in addition to the physical violence they suffered in their weekly clashes during the demonstrations.

Onfray sees the roots of the problem in the “liberal Maastricht state” created in 1992 with the establishment of the European Union, “to promoting which Macron has dedicated his entire short adult life.” “This is an order that is strong against the week, as we can see on the streets, and weak against the strong, as is evident from the abolition of the wealth tax and the failure to root out tax havens,” writes the 60-year-old Onfray. “Macron is trying to explain that there is not enough liberalist Europe in our lives, while the Gilets Jaunes are saying back to him that there is too much – not too much Europe, but too much liberalism.” The Maastricht state is “cruel to those who carry the burdens of globalization” and “simply by declaring their poverty, these people have been ideologically criminalized.”


©Reuters/Gonzalo Fuentes

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The EU cares a whole lot more about Macron than about its dignity. Perhaps it should rethink that before it’s too late.

Italy Saves Europe’s Dignity Over US Bullying Of Venezuela (ZH)

The row between France and Italy is but the latest in a long-running spat between French President Emmanuel Macron and the newly elected coalition government in Rome. The Italian government is an unlikely coalition between the left-leaning Five Star Movement (5SM) and a rightwing party, La Lega (The League). Both parties are highly critical of the EU establishment and neoliberal capitalist polices which France’s former Rothschild banker-turned-president Macron embodies. Rome has also slammed France for its responsibility in fomenting massive immigration problems for Europe and Italy in particular through Paris’ criminal military interventions, along with the US and other NATO powers, in the Middle East and North Africa.

Things came to a head this week when it emerged that Italian deputy Prime Minister Luigi Di Maio (and 5SM leader) had met with members of the Yellow Vest protest movement in France. The Yellow Vest movement has been holding nationwide demonstrations for the past 12 weeks protesting against Macron’s economic policies and what they call his elitist style of government. Di Maio and the other Italian deputy premier Matteo Salvini (leader of The League) have been openly supporting the French protesters, whom they identify with as part of a popular revolt across Europe against neoliberal austerity.

Reacting to reports of Italian government contact with the French protesters, France’s Foreign Minister Jean-Yves Le Drian said it was “outrageous interference” in his country’s internal affairs. The row has further escalated after France recalled its ambassador from Rome. The last time that happened was in 1940 during the Second World War. This is a major breakdown in relations between two of the EU’s founding members. Here is where the irony descends into farce. France is blustering with rage at Italy’s alleged meddling in its sovereign affairs while at the very same time the French government is party to an international effort led by the US to bring about regime change in Venezuela. The hypocritical arrogance is priceless.

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The revolutionary new plan among MPs from both sides: Vote for May’s deal, and then let the people vote it down. That way, whatever happens is not your fault.

Plan To End Brexit Deadlock: Back May’s Deal, Then Hold People’s Vote (G.)

Theresa May could win parliament’s approval for her controversial Brexit deal in return for guaranteeing another referendum, under a new plan being drawn up by a cross-party group of MPs. The new vote would give the British people a simple choice: to confirm the decision or stay in the EU. The initiative, aimed at breaking the political impasse, is being advanced by Labour MPs Peter Kyle and Phil Wilson and has won the support of prominent Remainers in the Tory party including Sarah Wollaston, Dominic Grieve and Anna Soubry. Kyle says the idea, which is likely to be put forward as an amendment to the EU withdrawal bill, is also being taken seriously by “people at a high level in government” as a potential way to resolve the Brexit crisis.

The amendment would offer all MPs the chance to support, or abstain on, the withdrawal bill and would specify that, if passed, the decision would be implemented on the condition it was put to the public for approval in a second referendum. If the amendment passed through parliament but the deal was rejected in the subsequent referendum, the UK would stay in the EU under current arrangements. If, however, the British people confirmed the decision of MPs to leave the EU under the terms of May’s deal, Brexit on these terms would immediately come into effect without any need for it to return to parliament.

“The beauty of this plan is that it holds attractions for both Leavers and Remainers. For Leavers, if the deal is confirmed by the British people, it offers a definitive end to the withdrawal process with Brexit sealed once and for all. For Remainers, on the other hand, it offers the chance to make the case to stay in the EU to the public, based on facts not promises as before,” said Kyle.“Remainers could vote for May’s deal, or abstain, even though they might not like it, in the knowledge that they could campaign against it later in the referendum. “The key is that Labour and Tory MPs could choose their own way of allowing the bill to pass, yet both will still be able to campaign in the referendum for their real objectives and their principles will remain intact,” he added.

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These clowns are paid generous salaries to make these decisions. May that’s a good place to start.

UK Cancels Brexit Ferry Contract Awarded To Firm With No Ferries (PA)

A controversial no-deal Brexit ferry contract awarded to a firm with no ships has been cancelled by the UK’s department for transport. Transport secretary Chris Grayling’s decision to award Seaborne Freight a contract worth £13.8 million (€15.7 million) had attracted widespread criticism. The department said it had decided to terminate the contract after Irish company Arklow Shipping, which had backed Seaborne Freight, stepped away from the deal. A department of transport spokeswoman said: “Following the decision of Seaborne Freight’s backer, Arklow Shipping, to step back from the deal, it became clear Seaborne would not reach its contractual requirements with the government. We have therefore decided to terminate our agreement.

“The government is already in advanced talks with a number of companies to secure additional freight capacity — including through the port of Ramsgate — in the event of a no-deal Brexit.” Mr Grayling last month defended the Seaborne Freight contract, insisting it was “not a risk”. It was one of three firms awarded contracts totalling £108 million (€123 million) in late December to lay on additional crossings to ease the pressure on Dover when Britain leaves the EU, despite having never run a Channel service. The department said it had been Arklow Shipping’s backing that gave it confidence in the viability of the deal, and that it stands by the robust due diligence carried out on Seaborne Freight.

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How close Brexit is getting. 47 days. A Bloomberg headline this morning says it all:

“Cargo ships are about to set sail from Britain for Asia, the Middle East and Africa, but their goods will arrive in an uncertain post-Brexit world.”

250 UK Firms Discuss Moving To Netherlands (G.)

The Dutch government has said it is in talks with more than 250 companies about moving their operations from the UK to the Netherlands before Brexit. The economic affairs ministry said it had lured 42 companies or branch offices and 1,923 jobs from the UK last year, as it increases its efforts to gain Brexit business. Among those who have chosen to invest in the Netherlands are the Discovery Channel, Sony and Bloomberg. Sony announced last month it was moving its European headquarters to Amsterdam, as companies in the UK continue to progress with contingency plans. Its rival Panasonic has already moved to the Dutch capital.

The government report said another Japanese company, the investment bank Norinchukin, was also moving to Amsterdam, along with the global content company TVT Media, the financial services providers MarketAxess and Azimo, and the maritime insurer UK P&I Club. While Mark Rutte, the Dutch prime minister, recently said he did not see Brexit as a business opportunity, countries including Ireland, France, Germany, Belgium and Luxembourg have been actively looking for opportunities to capitalise on Brexit ever since the EU referendum. Banks and other financial services are obliged to have operations in a member state if they want to serve a pan-EU market, while broadcasters who transmit across the EU need to have a licence in one member state to meet regulations.

The BBC is considering setting up an international base in Belgium. The Dutch economic affairs ministry said: “In 2019, several companies including Discovery and Bloomberg have already announced their intention to invest in the Netherlands because of Brexit. “Additionally, the Netherlands foreign investment agency is talking with more than 250 foreign companies considering setting up operations in the Netherlands following Brexit.” Most of the 250 companies were British, but some were American or Asian firms reconsidering their European branch structures, the report said.

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Oh Christ, Britons who think this is a British issue. Lord have patience.

Why The Sickly Ugly Sisters Of UK Politics Deserve To Suffer The Splits (G.)

If they did not exist, would we invent them? Given the chance to start from scratch, would Britain regard the Conservative and Labour parties, the two old and ugly sisters of our politics, as the best we can do? Are they fit for the purpose of representing and reconciling the diversity of opinions in a modern and complex country? And for offering it a choice of decent governments? A growing number of us have been saying not and for a long time. Even before Brexit split both parties and scrambled voter allegiances, much of the electorate was expressing its dissatisfaction with the big two. The Tories have not won a solid parliamentary majority since 1987.

The last Labour leader who was not called Tony Blair to secure a healthy Commons majority was Harold Wilson in 1966. The number of voters who enthusiastically identify as red or blue has been in long-term decline. Party membership has also been shrivelling. The Tories, who once boasted that they were a million strong, bump along at around 100,000. Labour enjoyed a trend-defying surge in its membership during the Ohhh Jeremy Corbyn phase of his leadership, but that is going downhill as the magical uncle turns out not to be so wondrous after all. It is true that the big two can still gather up a lot of votes. After decades of decline in their combined vote share, it blipped up at the last election.

But I don’t think that truly indicated renewed enthusiasm for either of them. It was a false positive induced by an electoral system that compels many voters to make a forced choice between the unappetising and the inedible. It doesn’t mean that these nose-holding voters like what’s put before them. The current choice on offer is so disdained that, when pollsters ask who would make best prime minister, Theresa May and Jeremy Corbyn are regularly beaten into second and third place by Neither. More than half of the electorate say their views are not properly represented by the existing political parties.

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No, you got that really really wrong, they didn’t fall for anything, they are an integral part of the process.

MSM Fall in Lockstep for Cheap Trump/Rubio Venezuela Aid PR Stunt (Fair)

The Trump administration’s now completely overt effort to overthrow Venezuelan President Nicolás Maduro had a very successful public relations effort this week, as major Western media outlets uniformly echoed its simplistic, pre-packaged claim that the Venezuelan government was heartlessly withholding foreign aid. All of the articles—and scores more like it—repeated the same script: Maduro was blocking aid from the US “out of refusal to relinquish power,” preferring to starve “his own people” rather than feed them. It’s a simple case of good and evil—of a tyrannical, paranoid dictator not letting in aid to feed a starving population.

Except three pieces of key context are missing. Context that, when presented to a neutral observer, would severely undermine the cartoonish narrative being advanced by US media. 1) Both the Red Cross and UN warned the US not to engage in this aid PR stunt. 2) The bridge in question is a visual metaphor contrived by the Trump administration of little practical relevance. 3) The person in charge of US operations in Venezuela has a history of using aid as a cover to deliver weapons to right-wing mercenaries. (1) Not only has the international aid community not asked for the “aid,” earlier this week, both the International Red Cross and United Nations warned the US to explicitly not engage in these types of PR stunts. As Washington Post contributor Vincent Bevins pointed out, the transparent cynicism of these efforts was preemptively warned about by the groups actually charged with keeping starving people fed.

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“..oil producing countries should look to renewable energy in the coming decades..”

IMF Chief Lagarde Warns Of High Arab Public Debt (AFP)

Public debt has rapidly increased in many Arab countries since the 2008 global financial crisis, due to persistently high budget deficits, the International Monetary Fund warned Saturday. “Unfortunately, the region has yet to fully recover from the global financial crisis and other big economic dislocations over the past decade,” IMF Managing Director Christine Lagarde said. “Among oil importers, (economic) growth has picked up, but it is still below pre-crisis levels,” she told the Arab Fiscal Forum in Dubai. Lagarde said public debt among Arab oil importing nations had increased from 64 percent to 85 percent of GDP in the decade since 2008.

Nearly half of these countries now have public debt of over 90 percent of GDP, she said. Public debt among oil exporters — including the six-nation Gulf Cooperation Council – rose from 13 percent of GDP to 33 percent of GDP, accelerated by the crash in oil prices around five years ago, Lagarde said. “The oil exporters have not fully recovered from the dramatic oil price shock of 2014,” she said. “Modest growth continues, but the outlook is highly uncertain.” Lagarde said oil producing countries should look to renewable energy in the coming decades, in line with the Paris Agreement on climate change, which stipulates a reduction in greenhouse emissions.

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Ironically, the World Bank is a facade for US rule.

Pelosi manages to utter that “Trump’s choice threatens to “undermine the institution’s mission.” An institution whose funds “internal audits and outside reports have tied to forced labor in Uzbekistan, death squads in Honduras and a Chadian oil pipeline that enriched the undemocratic local government all while child mortality rose..” Thanks, Nancy.

Trump’s World Bank Pick, An Ally For The Lender’s Critics? (AFP)

President Donald Trump’s choice to lead the World Bank is a firebrand critic of the world’s largest anti-poverty lender – an institution he has called wasteful, corrupt and overly generous to China. Those complaints are similar to those voiced by others in the development community. But that does not mean they have found a new ally in David Malpass, the senior US Treasury official who has pledged to reform the bank. Nancy Pelosi, the newly reinstalled Democratic speaker of the US House of Representatives, says Trump’s choice threatens to “undermine the institution’s mission.” And Liberia’s former minister of public works W. Gyude Moore tweeted that “an incorrigible arsonist will now be our fire chief.”

Malpass’ many criticisms of the Washington-based lender certainly echo familiar refrains. Many activists have long called for reforms at the World Bank, citing a litany of alleged human rights failures and scandals, and saying projects all too often left the world’s poorest even worse off, harmed the environment or entrenched the power of oligarchies and despots. Those critics might well have nodded their heads in accord in 2017 when Malpass said international financial institutions such as the World Bank “spend a lot of money” but are “not very efficient.” “They are often corrupt in their lending practices and they don’t get the benefit to the actual people in the countries,” he said in congressional testimony.

Internal audits and outside reports have tied World Bank funds to forced labor in Uzbekistan, death squads in Honduras and a Chadian oil pipeline that enriched the undemocratic local government all while child mortality rose, to name just a few examples.

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Spain went from right-wing to socialist government, and nothing changed. A familiar global pattern.

Catalan Separatists Trial To Start: Not Just Legal Battle, Media One Too (AFP)

The trial on Tuesday of 12 Catalan leaders over their role in Catalonia’s failed independence bid will be fought between Madrid and the separatists in the international media as much as in the courtroom. “We have to use this trial as a tool of denunciation, use it in our goal to make Catalonia independent,” the head of influential grassroots separatist group ANC, Elisenda Paluzie, said before the start of the trial at Spain’s Supreme Court on February 12. The separatists who govern the wealthy northeastern region have for years tried to convince the world of the legitimacy of their cause and make the case that Spain lacks political freedoms. But with over 600 journalists from 150 media outlets from around the world accredited to cover the trial, Spain’s central government does not want to remain on the sidelines.

The arrival in power in June of Socialist Prime Minister Pedro Sanchez marked a change in Madrid’s strategy. The previous conservative government of Mariano Rajoy was largely passive in the face of the separatists’ international campaign. But Sanchez’s Foreign Minister Josep Borrell – a Catalan who fiercely opposes independence – and his team spare no efforts to refute their arguments. “We are starting a completely different chapter,” the Global Spain spokesman said, adding the posture of the Rajoy government had “a very high cost in terms of misinformation”.

Officials from Spain’s justice ministry and the Supreme Court also met with foreign correspondents based in Madrid before the trial. And on Thursday Sanchez defended Spain’s judiciary during a visit to the Council of Europe and the European Court of Human Rights in Strasbourg in France. Many separatists are convinced that their leaders were jailed for political reasons and will not have a fair trial. And they see the central government’s public relations push as proof of this. “If the Spanish government is forced to carry out a campaign of marketing and misinformation, that means they feel insecure,” Alfred Bosch, in charge of foreign affairs in Catalonia’s regional government, said during a recent visit to London.

The Catalan government will respond to Madrid’s campaign by explaining “the truth….about a trial which is a political trial” and ease the work for foreign journalists and observers so they “reach their own conclusions”, he added. Catalonia’s public television will offer coverage of the trial in English to give it an “international dimension”. Grassroots separatist organisations ANC and Omnium Cultural are preparing their own information campaigns targeting an international audience which include videos made in several languages and meetings in cities across Europe. The lawyers of several of the defendants, who face long prison sentences if convicted, have demanded the presence of international observers at the trial. But the request was turned down by the Supreme Court..

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What did Elon say, there’s lots of interest but people can’t afford Tesla’s?!

Carmageddon for Tesla Model 3: US Deliveries Plunge 55% to 60% (WS)

Details trickling out over the 3,200-plus layoffs Tesla announced on January 18 are starting to paint a picture of what is happening on the demand side for the Model 3 in the US. According to two laid-off employees cited by Reuters, the company has gutted its delivery team of 230 people at its Las Vegas facility that delivered tens of thousands of Model 3s to buyers mostly in the US but also in Canada. About 150 of the 230 employees on the team have been let go, the two sources said who were among those let go, as the company struggles with deliveries that have plunged from the pace in the fourth quarter last year.

The federal tax credit of $7,500 was cut in half to $3,750 at the beginning of the year after Tesla’s EV sales rose past the 200,000-threshold in 2018. Yet the $35,000 Model 3 that CEO Elon Musk promised in 2016 remains a distant promise. The company already slashed its Model 3 price twice this year to stimulate demand, yet the least expensive Model 3 still has a price tag of $42,900. “There are not enough deliveries,” one of the laid-off employees told Reuters. “You don’t need a team because there are not that many cars coming through.”

The two laid-off employees said that in the first quarter, delivery targets for North America – mostly buyers in the US but also in Canada – are down 55% to 60% from what they were in Q4 2018. After a herculean effort late last year, Tesla delivered 145,610 Model 3s in 2018, all of them high-priced luxury versions. During this effort to deliver as many Model 3s as possible while the full federal tax credit of $7,500 was still in effect, the reservation list was “plucked clean” of American buyers “willing to pay current prices,” as Reuters put it, citing those two laid-off employees on the delivery team.

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Feb 062019
 
 February 6, 2019  Posted by at 10:41 am Finance Tagged with: , , , , , , , , , , , , , ,  


Pablo Picasso Portrait de femme au col d’hermine (Olga) 1923

 

Trump Calls For End To ‘Politics Of Revenge,’ Touts ‘Hottest Economy’ (AP)
Trump, Kim To Hold Second Summit In Vietnam At End Of February (AP)
Too Fast, Too Furious (Roberts)
Elizabeth Warren Apologizes For Identifying As Native American (MW)
May Rules Out Brexit Delay And Hard Border With Ireland (G.)
Ireland And EU Discuss Emergency Funding For No-Deal Brexit (G.)
China: Expansion, Stagnation and Decline (CHSmith)
French Lawmakers Approve Controversial ‘Anti-Riot’ Bill (F24)
Judge Pauses Lawsuits Against Cryptocurrency Company Quadriga (R.)
5G Wireless: A “Massive Health Experiment” (SHTF)
18% Of Young People In UK Do Not Think Life Is Worth Living (G.)
50,000 Elderly In UK -77 Per Day- Die Waiting For Social Care (G.)

 

 

At least they all agree on Venezuela.

Trump Calls For End To ‘Politics Of Revenge,’ Touts ‘Hottest Economy’ (AP)

Facing a divided Congress for the first time, President Donald Trump on Tuesday called on Washington to reject “the politics of revenge, resistance and retribution.” He warned emboldened Democrats that “ridiculous partisan investigations” into his administration and businesses could hamper a surging American economy. Trump’s appeals for bipartisanship in his State of the Union address clashed with the rancorous atmosphere he has helped cultivate in the nation’s capital — as well as the desire of most Democrats to block his agenda during his next two years in office. Their opposition was on vivid display as Democratic congresswomen in the audience formed a sea of white in a nod to early 20th-century suffragettes.

Trump spoke at a critical moment in his presidency, staring down a two-year stretch that will determine whether he is re-elected or leaves office in defeat. His speech sought to shore up Republican support that had eroded slightly during the recent government shutdown and previewed a fresh defense against Democrats as they ready a round of investigations into every aspect of his administration. “If there is going to be peace and legislation, there cannot be war and investigation,” he declared. Lawmakers in the cavernous House chamber sat largely silent.

[..] One bright spot for the president has been the economy, which has added jobs for 100 straight months. He said the U.S. has “the hottest economy anywhere in the world.” He said, “The only thing that can stop it are foolish wars, politics or ridiculous partisan investigations” an apparent swipe at the special counsel investigation into ties between Russia and Trump’s 2016 campaign, as well as the upcoming congressional investigations. The diverse Democratic caucus, which includes a bevy of women, sat silently for much of Trump’s speech. But they leapt to their feet when he noted there are “more women in the workforce than ever before.”

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Haven’t heard Moon for a while. There’s talk of a NoKor industrial area reopening.

Trump, Kim To Hold Second Summit In Vietnam At End Of February (AP)

President Donald Trump said Tuesday that he will hold a two-day summit with North Korea leader Kim Jong Un Feb. 27-28 in Vietnam to continue his efforts to persuade Kim to give up his nuclear weapons. Trump has said his outreach to Kim and their first meeting last June in Singapore opened a path to peace. But there is not yet a concrete plan for how denuclearization could be implemented. Denuclearizing North Korea is something that has eluded the U.S. for more than two decades, since it was first learned that North Korea was close to acquiring the means for nuclear weapons. “As part of a bold new diplomacy, we continue our historic push for peace on the Korean Peninsula,” Trump said in his State of the Union address.

Director of National Intelligence Dan Coats told Congress last week that U.S. intelligence officials do not believe Kim will eliminate his nuclear weapons or the capacity to build more because he believes they are key to the survival of the regime. [..] At the second Trump-Kim summit, some experts say North Korea is likely to seek to trade the destruction of its main Yongbyon nuclear complex for a U.S. promise to formally declare the end of the 1950-53 Korean War, open a liaison office in Pyongyang and allow the North to resume some lucrative economic projects with South Korea. “Our hostages have come home, nuclear testing has stopped, and there has not been a missile launch in 15 months,” Trump said. “If I had not been elected President of the United States, we would right now, in my opinion, be in a major war with North Korea.

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Interesting, good graph. It’s just that referring to ‘markets’ means you’re guaranteed to get so many things wrong. There are no markets when the Fed decides prices insead of allowing markets to do so.

Too Fast, Too Furious (Roberts)

As noted by Deutsche Bank’s Parag Thatte noted recently: “While the S&P 500 rallied +15% since late December, equity funds have continued to see large outflows. As Thatte elaborates, “US equity funds in particular have continued to see large outflows (-$40bn) since then, following massive outflows (-$77bn) through the sell-off from October to December.” This confirms our concern the recent rally has primarily been a function of short-covering and repositioning in the markets rather than an “all-out” buying spree based on a “conviction” the “bull market” remains intact.

David Rosenberg recently confirmed the same: “Let’s go back to December for a minute. This was the worst December since 1931, mind you, followed by the best January since 1987. This is nothing more than market that has gone completely manic. To suggest that there is anything fundamental about this dead-cat bounce in equities is laughable. This is an economy, and a market, that couldn’t even sustain a 3% yield on the 10-year T-note. It sputtered at the thought of the Fed taking the funds rate marginally above zero on a ‘real’ basis, even as it feasted on unprecedented stimulus for a such a late-cycle economy. Yes, Powell et al. helped trigger this latest up-leg, not just at last week’s meeting, but in the lead-up to the confab as well. The Fed has been crying uncle for weeks now.”

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Too many attempts at covering lies with other ones. What was she thinking?

Elizabeth Warren Apologizes For Identifying As Native American (MW)

Sen. Elizabeth Warren apologized Tuesday for previously identifying herself as a Native American. In an interview with the Washington Post, the Massachusetts Democrat expanded on an apology issued last week to the Cherokee Nation. “I can’t go back,” she told the Post. “But I am sorry for furthering confusion on tribal sovereignty and tribal citizenship and harm that resulted.” As a presidential candidate, Warren has been trying to fight accusations that she identified as Native American to advance her career as a professor at Harvard and Penn law schools. In the same report, the Post published Warren’s previously undisclosed 1986 registration card to the State Bar of Texas, in which she handwrote her ethnicity as “American Indian.”

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Thought she might flee into an Article 50 extension. But it wouldn’t bring anything. She’s close to checkmate.

May Rules Out Brexit Delay And Hard Border With Ireland (G.)

Theresa May fired a warning shot at Brexit supporters on Tuesday, insisting there was “no suggestion” Britain would leave the EU without an insurance provision to protect against a hard border in Northern Ireland. At a speech in Belfast, May would only accept that technology could “play a part” in any alternative arrangements and that she would not countenance anything that would disrupt the lives of border communities. Brexit supporters immediately expressed their alarm at some of May’s language, which they fear could be read as a step back from previous assurances. “She knows what she promised us,” one ERG source said. “Even if she didn’t mean what she said, we do.”

The comments came as May prepared to meet EU leaders in Brussels for the first time since the historic defeat of her Brexit deal, where she is expected to formally request the reopening of the withdrawal agreement in order to address concerns about the backstop. The prime minister will travel to the Belgian capital on Thursday, meeting the European commission president, Jean-Claude Juncker, the EU parliament president Antonio Tajani, and the European council president. Donald Tusk. Both Tusk and Juncker have been adamant that the withdrawal agreement will not be reopened.

Number 10 sources suggested they did not expect a warm reception, but that it would signal the start of a new diplomatic process, involving proposals on the backstop worked on by MPs and ministers. Earlier on Tuesday, May told her cabinet she would not countenance any delay to the UK’s exit on 29 March, a message to ministers such as Jeremy Hunt and Sajid Javid who have suggested at least some delay might now be inevitable. Ministers who are more pessimistic about the prospects of the UK leaving on time with a deal held their tongues in the meeting after May’s warning. “She was pretty clear she had no time for anyone calling for it to be extended,” one cabinet source said.

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“He has previously said Ireland would seek “mega-money” from the EU.”

Ireland And EU Discuss Emergency Funding For No-Deal Brexit (G.)

Ireland is in talks with the EU over a substantial Brexit emergency fund to offset the damage caused to the country’s €4.5bn (£3.96bn) food exports to Britain if the UK crashes out of the bloc with no deal next month. As Theresa May prepares for a crunch meeting in Brussels on Thursday, officials at the European commission are already looking at continuous compensatory measures for Ireland as part of an ongoing arrangement that could last years. Contingency funds to compensate farmers have already been discussed at the highest levels and are expected to arise in talks with the taoiseach, Leo Varadkar, during a round of meetings in Brussels on Wednesday.

Sources say Ireland will be looking for a “long-term fix” in EU budget talks in April rather than a lump sum Brexit bailout. Politicians have cited the ongoing assistance given to the Baltic states after Russia banned certain food exports from the EU as an example of financial solidarity it hopes to win in a no-deal Brexit. Ireland exports €4.5bn worth of food and drink a year to the UK, ranging from beef to cheddar cheese. Calculations by the Department of Agriculture put the cost of tariffs under World Trade Organization rules at €1.7bn. Michael Creed, Ireland’s minister for agriculture, food and the marine, has said this would be an “existential challenge” for the food and drink sector. He has previously said Ireland would seek “mega-money” from the EU.

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“China entered 2008 with $8 billion in officially counted debt; 10 years later that debt is $40 trillion..”

China: Expansion, Stagnation and Decline (CHSmith)

China entered 2008 with $8 billion in officially counted debt; 10 years later that debt is $40 trillion, plus unknown trillions more in the shadow banking system which expanded the options for risky speculation and massive expansions of credit. Like all the other stagnating economies, China’s “solution” to stagnation was to expand debt-funded speculation and “investments” with little to no actual return. The high water mark of China’s financialization orgy was 2018. From now on, adding debt simply adds more drag on the underlying economy, as income is diverted to service speculative debt and defaults start hollowing out both the official banking system and the shadow banking system.

All the policies that worked in the Boost Phase no longer work. the policy tool chest is empty, and so China’s leadership is doing more of what’s failed: burying bad debt off the visible balance sheets, re-issuing new loans to pay off defaulted debt, and all the usual tricks of a failed banking/credit system. Japan has papered over its systemic rot and decline for 30 years by using a financial Perpetual Motion Machine: the state borrows and spends trillions by selling bonds to the central bank, which in effect prints “free money” for the state to burn propping up a sclerotic, corrupt, failed status quo.

If that’s policy makers’ idea of success, they are delusional. Credit/asset bubbles all deflate, and central bank buying of assets only gives the lie to the illusion of stability and market liquidity. Simply put, there is no indication China’s leadership has any plan to manage the inevitable stagnation and decline of China’s economy that is now painfully obvious to anyone with the slightest willingness to look beneath the flimsy propaganda of official statistics. They are not alone, of course; every other major economy is equally bereft of policies and equally dependent on bogus statistics and debt to paper over the decline.

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Macron support slips further. “50 MPs from Macron’s own party abstained from voting”.. but “The main thing is that there were no votes against..”, says the party.

French Lawmakers Approve Controversial ‘Anti-Riot’ Bill (F24)

French MPs on Tuesday approved an anti-rioting bill giving security forces the power to ban suspected hooligans from demonstrating, in a controversial bid to crack down on violence that has marred Yellow Vest protests over the last three months. Opponents say the bill, approved by the lower house of parliament by 387 votes to 92, contravenes the constitutional right to demonstrate. Under its most contentious provision, government officials would be able to ban people suspected of being hooligans from taking part in demonstrations – without oversight from a judge. Inspired by legislation used to crack down on football hooligans, the new law calls for a six-month prison sentence and a €7,500 ($8,500) fine for violators.

The legislation, if passed by the upper house and approved by the constitutional council, would also allow fines of €15,000 ($17,000) and a one-year prison term for demonstrators covering or masking their faces to escape identification. It would also hand French police greater powers to search would-be demonstrators for weapons. [..] Unusually, some 50 MPs from Macron’s own party, the Republic on the Move (LREM), abstained from voting in favour of the legislation on Tuesday in a sign of divisions within the group. [..] “The main thing is that there were no votes against,” Gilles Le Gendre, who heads LREM’s parliamentary group, told reporters after the vote on Tuesday.

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A very curious case. We’ll hear much more of it.

Judge Pauses Lawsuits Against Cryptocurrency Company Quadriga (R.)

A cryptocurrency platform that lost access to millions of dollars when its founder died with sole knowledge of company passwords has been granted a temporary reprieve from creditor lawsuits. Halifax judge Michael Wood on Tuesday ordered a 30-day stay that precludes filing of claims against Quadriga, a Canadian cryptocurrency exchange that has left thousands of investors without their money after the death of founder Gerald Cotten. Customers have threatened lawsuits. Ernst & Young has been appointed the company’s third-party monitor, to help manage Quadriga’s finances during the process.

Cotten, who died in December of complications from Crohn’s disease while in India, was the only person who had passwords to digital wallets containing C$180 million ($137.13 million) in cryptocurrencies, according to court filings. He was 30 years old. “Despite repeated and diligent searches, I have not been able to find (the passwords) written down anywhere,” his widow Jennifer Robertson said in an affidavit. A court file indicates Quadriga owes 115,000 users the equivalent of C$250 million ($190.46 million). The document showed Quadriga has $30 million in bank drafts, many of which it has had trouble depositing. Lawyer Maurice Chiasson told the court the company wants time to find the C$250 million it owes users. According to court filings the company is considering selling its platforms to cover its debts.

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The riches of smartphones.

5G Wireless: A “Massive Health Experiment” (SHTF)

Experts are warning that superfast broadband known as 5G could cause cancer in humans, and the usage of 5G is nothing more than a “massive health experiment.” 5G could very well be a global catastrophe that kills wildlife, gives people terminal diseases, and causes the Earth’s magnetic field to change, according to shocking claims by a technology expert. Arthur Robert Firstenberg is an American author and an activist for electromagnetic radiation and health. In his 1997 book Microwaving Our Planet: The Environmental Impact of the Wireless Revolution, he claimed: “The telecommunications industry has suppressed damaging evidence about its technology since at least 1927.”

Firstenberg has also founded the independent campaign group the Celluar Phone Task Force and since 1996 he has argued in numerous publications that wireless technology is dangerous. According to a report by the Daily Star, Firstenberg has also recently started an online petition calling on world organizations, such as the United Nations, World Health Organisation (WHO), and European Union to “urgently halt the development of 5G,” which is due to be rolled out this year. In fact, Verizon has activated the world’s first 5G networks in four cities in the United States: Houston, Indianapolis, Los Angeles, and Sacramento. According to the Firstenberg, wireless networks are “harmful for humans” and the development of the next generation is “defined as a crime” under international law, as he states it in the online petition.

When speaking to The Daily Star Online, Firstenberg said this 5G rollout is deadly. “There is about to be as many as 20,000 satellites in the atmosphere. The FCC approved Elon Musk’s project for 12,000 satellites on November 15th and he’s going to launch his in mid-2019. I’m getting reports from various parts of the world that 5G antennas are being erected all over and people are already getting sick from what’s there now and the insect population is getting affected,” Firstenberg stated.

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More riches of smartphones. Someone soon will propose a better term than ‘smart’-phones.

18% Of Young People In UK Do Not Think Life Is Worth Living (G.)

The number of young people in the UK who say they do not believe that life is worth living has doubled in the last decade, amid a sense of overwhelming pressure from social media which is driving feelings of inadequacy, new research suggests. In 2009, only 9% of 16-25-year-olds disagreed with the statement that “life is really worth living”, but that has now risen to 18%. More than a quarter also disagree that that their life has a sense of purpose, according to a YouGov survey of 2,162 people for the Prince’s Trust, a charity that helps 11 to 30-year-olds into education, training and work. Youth happiness levels have fallen most sharply over the last decade in respect of relationships with friends and emotional health, the survey found, while satisfaction with issues like money and accommodation have remained steady.

The Prince’s Trust has been gauging youth opinion for 10 years and found that just under half of young people who use social media now feel more anxious about their future when they compare themselves to others on sites and apps such as Instagram, Twitter and Facebook. A similar amount agree that social media makes them feel “inadequate”. More than half (57%) think social media creates “overwhelming pressure” to succeed. The gloomy view on life being taken by a growing minority of young people comes amid reports of an increased rate of teenage suicide. It was reported on Sunday that official statistics due later this year will show that suicides now occur at more than five in 100,000 teenagers in England. That contrasts with a figure of just over three in 100,000 in 2010.

“Social media has become omnipresent in the lives of young people and this research suggests it is exacerbating what is already an uncertain and emotionally turbulent time,” said Nick Stace, UK chief executive of The Prince’s Trust. “Young people are critical to the future success of this country, but they’ll only realise their full potential if they believe in themselves and define success in their own terms. It is therefore a moral and economic imperative that employers, government, charities and wider communities put the needs of young people centre stage.”

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Britain gets rid of its old and its young. And presumably other ‘weaker’ groups.

50,000 Elderly In UK -77 Per Day- Die Waiting For Social Care (G.)

More than 50,000 people have died waiting for care while ministers dither over long-awaited plans to overhaul the funding of social care, a charity has claimed. Age UK estimated that 54,000 people – or 77 a day – have died while waiting for a care package in the 700 days since the government first said in March 2017 it would publish its social care green paper, which has since been delayed several times. The claim came as a cross-party group of MPs warned that the government was “in denial” about the perilous state of English local authority finances – a crisis driven by a growing demand for the care of vulnerable adults and children.

The Commons public accounts committee (PAC) said that after eight years in which central government funding had halved, councils were under “enormous pressure” just to maintain essential services. MPs accused ministers of having no meaningful plan to ensure local authority finances were sustainable in the future. Overall spending by local authorities on services fell by 19.2% in real terms between 2010-11 and 2016-17, according to the report. Meg Hillier, the committee chair said: “Government needs to get real, listen fully to the concerns of local government and take a hard look at the real impact funding reductions have on local services.”

The chancellor, Philip Hammond, announced a funding boost for councils at last autumn’s budget, amounting to £1.4 bn in 2018-19 and 2019-20. But the PAC said such short-term fixes failed to deal with the underlying challenges facing councils. It urged the government to focus on assuring the long-term sustainability of local authority finances, and be more ambitious than simply allowing them to “cope”.

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Feb 042019
 
 February 4, 2019  Posted by at 10:30 am Finance Tagged with: , , , , , , , , , , , , ,  


René Magritte Morning star 1938

 

Maduro Warns White House Will Be ‘Stained With Blood’ If Trump Invades (G.)
Regional Bloc Plans Pressure Campaign Against Venezuela’s Maduro (R.)
Austerity And Welfare Cuts Main Driver Behind Brexit Vote (Ind.)
Hard Brexiters Say Only Acceptable Way Forward Is To Remove Backstop (G.)
Theresa May Launches Committee To Find Irish Backstop Alternatives (Ind.)
UK Home Secretary Dismisses Speculation Of Snap General Election In June (G.)
Macron Blames Social Media & Russia For Yellow Vests (RT)
NBC News Claims Russia Supports Tulsi Gabbard (Greenwald)
D-Day For Australian Banks As Bombshell Inquiry Report Set For Release (R.)
MAGA Misses the Eurasia Train (Escobar)
The Chinese Were White – Until White Men Called Them Yellow (SCMP)
Animals And Birds Under Increasing Threat From Plastic Waste (G.)
Bacteria Glues Plastic Together Posing Even Deadlier Threat To Sea Life (Ind.)

 

 

Maduro has been practicing the Trump style.

Maduro Warns White House Will Be ‘Stained With Blood’ If Trump Invades (G.)

Venezuela’s embattled leader, Nicolás Maduro, has warned Donald Trump he will leave the White House “stained with blood” if he insists on pursuing what he called a “dirty” imperialist conspiracy to overthrow him. “Stop. Stop, Trump! Hold it right there! You are making mistakes that will leave your hands covered in blood and you will leave the presidency stained with blood,” Maduro warned during a combative interview with the Spanish journalist Jordi Évole. “Why would you want a repeat of Vietnam?” He also rejected European calls for elections, saying: “We don’t accept ultimatums from anyone. I refuse to call for elections now – there will be elections in 2024. We don’t care what Europe says.” He added: “You can’t base international politics on ultimatums. That’s the stuff of the empire, of colonial times.”

Tens of thousands of Venezuelan protesters streamed through the capital, Caracas, on Saturday to demand the exit of a president who has led the oil-rich South American nation into economic collapse and humanitarian crisis. [..] in his television interview Maduro – who came to power after the 2013 death of his political mentor, Hugo Chávez – signalled that he had no plans to go anywhere. “If the north American empire attacks us, we will have to defend ourselves … We aren’t going to hand Venezuela over,” Maduro said. The UN estimates that more than 3 million Venezuelans have fled overseas in recent years to escape hyperinflation, shortages of food, medicine and healthcare and chronic insecurity. That number is expected to rise to more than 5 million this year.

Read more …

Trump and Trudeau, a happy couple. And of course Canada belongs in a regional bloc with Venezuela, it’s right next door.

Regional Bloc Plans Pressure Campaign Against Venezuela’s Maduro (R.)

A major bloc of Latin American nations and Canada will discuss on Monday how to maintain pressure on Venezuelan President Nicolas Maduro to hold new elections as he faces widespread calls to resign after last year’s disputed presidential vote. Sources briefed on the matter said that the 14-nation Lima Group looked set, though, to hold off imposing further sanctions on the Maduro government when it meets in Ottawa. Most group members say Maduro should quit in favour of opposition leader Juan Guaido – who declared himself interim president last month – and are calling for a new presidential election in the troubled OPEC nation.

The United States, which is not a member of the group, also wants Maduro gone. “How can we continue to support the opposition to keep the pressure up on the regime and push for new elections? Certainly that’s something we’ll be looking at,” said a Canadian government official. Maduro, who has overseen an economic collapse and the exodus of millions of Venezuelans, said in an interview that aired on Spanish television channel Antena 3 on Sunday: “We don’t accept ultimatums from anyone,” adding: “I refuse to call for elections now – there will be elections in 2024.” [..] Trudeau spoke on Sunday to Guaido and the two “discussed the importance of the international community sending a clear message regarding the illegitimacy of the Maduro regime,” Trudeau’s office said.

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How the Tories got their Brexit.

Austerity And Welfare Cuts Main Driver Behind Brexit Vote (Ind.)

Welfare cuts and other austerity measures implemented under the Conservatives pushed vital swing voters to back Brexit and won the EU referendum for the Leave campaign, according to a new report. Research published by the Social Market Foundation suggests the best indicator of a person’s referendum vote was not age or education, but happiness or sadness about their personal finances – with unhappy people tending to vote Leave and contented ones preferring Remain. The report, which analysed the level of cuts in each area of the UK alongside each area’s growth in support for Ukip, argues that had it not been for austerity, the referendum would not have turned out the way it did.

It found that in districts that received the average austerity shock, Ukip vote shares were on average 11.62 percentage points higher in the most recent local elections prior to the referendum than in districts with little exposure to austerity. As well as area-level analysis, the report looked at individual-level data and found that some people directly affected by welfare cuts shifted their political support to Ukip and rejected the political establishment. “Households exposed to the bedroom tax increasingly shifted to support Ukip and experienced economic grievances as they fell behind with their rent payments due to the cuts,” the paper stated.

As much as 9 percentage points of the 52 per cent support for Leave – around 3 million votes – was decided by concern about austerity and related issues, the researchers estimated. It suggests that without the effect of the “austerity shock” on welfare and public services, the Leave share of the referendum vote could have been as low as 43 per cent, delivering a comfortable win for Remain.

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Ruled out by EU.

Hard Brexiters Say Only Acceptable Way Forward Is To Remove Backstop (G.)

Hard Brexiters have warned Theresa May that the only proposal they are likely to support to break the Brexit impasse is a version of the “Malthouse compromise”, which envisages removing the backstop from the draft European Union exit treaty. Steve Baker, vice chair of the European Research Group, said that he and other Conservative Eurosceptics could not support the alternative they believed Theresa May favoured – an addendum to the existing EU withdrawal agreement. Baker is one of five backbench MPs who will meet Steve Barclay, the Brexit secretary, on Monday, in the first meeting of a new working group aimed at examining whether technological solutions could eliminate the backstop.

The “Malthouse compromise” – named after the junior minister, Kit Malthouse, who brokered it – is a proposal to replace the unpopular backstop with alternative technological arrangements to prevent the return of a hard border in Ireland. It is supported by Baker, other Eurosceptics and the pro-remain former ministers Nicky Morgan and Damian Green, both of whom will attend further meetings with Barclay on Tuesday and Wednesday. “As far as I’m concerned the Malthouse compromise is the only game in town if we’re going to reach an agreement in Brussels,” Baker said, indicating that only rewriting the draft withdrawal agreement to remove the backstop would satisfy Tory Brexiters.

Last week MPs voted in favour of an amendment in the name of Sir Graham Brady, a senior Conservative, to examine the possibility of new customs arrangements but it is unclear that the necessary technology exists. May also instructed Geoffrey Cox, the attorney general, to examine two other proposals that could be taken to Brussels – whether it would be possible to time-limit the backstop or to introduce a unilateral exit mechanism for the UK.

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53 days to go: plenty time to waste.

Theresa May Launches Committee To Find Irish Backstop Alternatives (Ind.)

Theresa May has been accused of “wasting valuable time” in the countdown to Britain’s exit from the EU as she announced plans to establish a Commons group probing alternative plans for the Irish border post-Brexit. Despite the prime minister’s hopes of reopening the withdrawal agreement already being dashed by EU leaders with just 53 days to go until Brexit, the new committee made up of senior Tory MPs will meet for the first time on Monday. Brexit secretary Stephen Barclay is expected to attend the sessions, alongside support from officials at HM Revenue and Customs, the Cabinet Office, and No 10. The group will aim to provide “alternative arrangements” to the backstop – the EU’s insurance policy in the withdrawal agreement that aims to avoid a hard border in Ireland.

[..] But the EU’s deputy chief negotiator, Sabine Weyand, has already dismissed using existing technology as an alternative solution to the question of the Irish border. “We looked at every border on this Earth, every border the EU has with a third country – there’s simply no way you can do away with checks and controls,” she said last week. Ireland’s deputy prime minister Simon Coveney also rubbished the idea of “alternative arrangements”, adding in The Sunday Times: “This is not a new concept. The EU is committed to trying to agree alternative arrangements to replace the backstop. We want a comprehensive future relationship in place by the end of 2020 so the backstop is never used.

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So they leave on March 29 and hold elections 2-3 months later?

UK Home Secretary Dismisses Speculation Of Snap General Election In June (G.)

Sajid Javid has said “the last thing we want is a general election”, emphasising that the government is still hoping to secure a time limit or unilateral exit mechanism for the Irish border backstop. The home secretary dismissed newspaper reports that Downing Street strategists were considering holding a snap general election on 6 June, if Theresa May cannot get her Brexit deal through parliament before the 29 March deadline. “The last thing we want is a general election, the people will never forgive us for it,” Javid told the BBC’s The Andrew Marr Show. “They want politicians to get on with the job. They have been given a very clear mandate, now it’s our job to get on with it.”

There are signs that the Conservatives have started to gear up for a possible snap election, with the party’s chief executive, Sir Mick Davis, placing the Tories on a “war footing” last week and increased fundraising activities under the cover of the local elections in May. A poll by Opinium for the Observer showed the Conservatives seven points ahead of Labour on 41%, but few people believe the party would risk going to the country under May’s leadership after the disaster of 2017, when its overall majority was lost. “I know that Conservative party headquarters is planning on only one set of elections, which is the local government elections. The last thing this country wants is an election; they want parliament to deliver Brexit in an orderly way,” Javid said.

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“[far] rightists, leftists, and the Russians.”

Macron Blames Social Media & Russia For Yellow Vests (RT)

Who is at fault for Yellow Vest protests raging in France since November? For President Emmanuel Macron it’s not actual economic problems or his own decisions, but the right, the left, social media and, of course, “Russes.” Macron blasted the nation’s mainstream media for failing to control the narrative and argued that social networks and “the Russians” are driving all content instead, with traditional outlets falling into line. The president’s calculated outburst was published by the weekly Le Point on Friday, just before the Yellow Vests officially marked the 12th consecutive week of staging large-scale protests against the government.

The president dismissed Eric Drouet, the 33-year-old trucker who emerged as a prominent figure in the protests, as “a media product, a product of social networks,” and claimed that the demonstrators are being “advised from outside,” without elaborating. He argued that 90 percent of the chatter online about the Yellow Vests comes from the “[far] rightists, leftists, and the Russians.” Yet, 18 months after bending the French party system to his will and his triumphant win against bien-pensant pariah Marine Le Pen, Macron’s excuses for disappointing expectations are running thin. His first cannonade in what was intended to be a sweeping march of modernity, was a labor reform that he claimed would help small businesses. It was met with protests from unions, public sector workers who said it made firing easier, and those fearing loss of benefits.

In a preview of what has now become the norm, Macron dismissed the opponents of his policies as “slackers.” [..] The government has already suspended the fuel tax hike that caused the traffic law-mandated vests to be put on in the first place, while the president has promised to raise the minimum wage. But for many demonstrators these actions are belated, and do not address underlying issues. “It’s not enough. We still have to fight the current taxes, the ones that have been in place for years. We should have woken up years ago, and now we have to make up for the years we missed,” one of the original and most popular Yellow Vests, Ghislain Coutard, told Deutsche Welle, adding that Macron should “come out of his hole and face” the people.

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It’s a model that works inside the echo chamber.

NBC News Claims Russia Supports Tulsi Gabbard (Greenwald)

NBC News published a predictably viral story Friday, claiming that “experts who track websites and social media linked to Russia have seen stirrings of a possible campaign of support for Hawaii Democrat Tulsi Gabbard.” But the whole story was a sham: the only “experts” cited by NBC in support of its key claim was the firm, New Knowledge, that just got caught by the New York Times fabricating Russian troll accounts on behalf of the Democratic Party in the Alabama Senate race to manufacture false accusations that the Kremlin was interfering in that election. To justify its claim that Tulsi Gabbard is the Kremlin’s candidate, NBC stated: “analysts at New Knowledge, the company the Senate Intelligence Committee used to track Russian activities in the 2016 election, told NBC News they’ve spotted ‘chatter’ related to Gabbard in anonymous online message boards, including those known for fomenting right-wing troll campaigns.”

What NBC – amazingly – concealed is a fact that reveals its article to be a journalistic fraud: that same firm, New Knowledge, was caught just six weeks ago engaging in a massive scam to create fictitious Russian troll accounts on Facebook and Twitter in order to claim that the Kremlin was working to defeat Democratic Senate nominee Doug Jones in Alabama. The New York Times, when exposing the scam, quoted a New Knowledge report that boasted of its fabrications: “We orchestrated an elaborate ‘false flag’ operation that planted the idea that the [Roy] Moore campaign was amplified on social media by a Russian botnet.’”

[..] In any event, NBC News, to smear Gabbard as a Kremlin favorite, relied on a group that it heralded as “experts” without telling its audience about the major fraud which this firm just got caught perpetrating in order – on behalf of the Democratic Party – to fabricate claims of Kremlin interference in the Alabama Senate race. That’s because the playbook used by the axis of the Democratic Party, NBC/MSNBC, neocons and the intelligence community has been, is and will continue to be a very simple one: to smear any adversary of the establishment wing of the Democratic Party – whether on the left or the right – as a stooge or asset of the Kremlin (a key target will undoubtedly be, indeed already is, Bernie Sanders).

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They’ll just paper it all over.

D-Day For Australian Banks As Bombshell Inquiry Report Set For Release (R.)

The Australian government is due to release on Monday the final recommendations of the independent inquiry that exposed systemic wrongdoing in Australia’s financial sector last year, likely leading to sweeping changes to the country’s banking industry. The big banks, insurers, pension funds and regulators who oversee the financial industry are bracing for a brutal summary of their misdeeds and weaknesses, and a list of tough recommendations including possible criminal charges. The Royal Commission was a quasi-judicial independent body led by a former high court judge that was tasked by the government, reluctantly at first, with investigating financial sector misconduct following a string of banking scandals.

For 11 months its public hearings shocked the country and wiped more than A$60 billion ($43.4 billion) from top financial stocks as investors factored in the prospect of tougher regulation, higher compliance costs and thinner margins. Regulators were also grilled by the commission’s barristers about why they seemed reluctant to crack down on wrongdoing, sometimes penalizing firms with little more than a mildly worded press release. “There will be nothing positive in the recommendations because the banks have clearly breached various obligations in the laws, and obligations to good customer service,” said Matthew Wilson, a banking analyst at Deutsche Bank.

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Pepe appears blind to China’s multiple bubbles. I could see them halt any expansion and close their borders first to sort out the financial mess.

MAGA Misses the Eurasia Train (Escobar)

We should know by now that the heart of the 21st Century Great Game is the myriad layers of the battle between the United States and the partnership of Russia and China. Even the U.S. National Defense Strategy says so: “The central challenge to U.S. prosperity and security is the reemergence of long-term, strategic competition by … revisionist powers.” The recently published assessment on U.S. defense implications of China’s global expansion says so too. The clash will frame the emergence of a possibly new, post-ideological, strategic world order amidst an extremely volatile unpredictability in which peace is war and an accident may spark a nuclear confrontation.

The U.S. vs. Russia and China will keep challenging the West’s obsession in deriding “illiberalism,” a fearful, rhetorical exercise that equates Russian democracy with China’s one party rule, Iran’s demo-theocracy and Turkey’s neo-Ottoman revival. It’s immaterial that Russia’s economy is one-tenth of China’s. From boosting trade that bypasses the U.S. dollar, to increasing joint military exercises, the Russia-China symbiosis is poised to advance beyond political and ideological affinities. China badly needs Russian know-how in its military industry. Beijing will turn this knowledge into plenty of dual use, civilian-military innovations.

The long game indicates Russia and China will break down language and cultural barriers to lead Eurasian integration against American economic hegemony backed by military might. One could say the Eurasian century is already upon us. The era of the West shaping the world at will (a mere blip of history) is already over. This is despite Western elite denials and fulminations against the so-called “morally reprehensible,” “forces of instability” and “existential threats.” Standard Chartered, the British financial services company, using a mix of purchasing power exchange rates and GDP growth, has projected that the top five economies in 2030 will be China, the U.S., India, Japan and Russia. These will be followed by Germany, Indonesia, Brazil, Turkey and the UK. Asia will extend its middle class as they are slowly killed off across the West.

[..] Beijing is realizing it can’t meet its geo-economic goals on energy, security, and trade without bypassing the U.S. dollar. According to the IMF, 62 percent of global central bank reserves were still held in U.S. dollars by the second quarter of 2018. Around 43 per cent of international transactions on SWIFT are still in U.S. dollars. Even as China, in 2018, was the single largest contributor to global GDP growth, at 27.2 percent, the yuan still only accounts for 1 percent of international payments, and 1.8 per cent of all reserve assets held by central banks.

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Our history. A proud story. We bring democracy and freedom and prosperity.

The Chinese Were White – Until White Men Called Them Yellow (SCMP)

How did East Asians come to be referred to as yellow-skinned? It was the result of a series of racial mappings of the world and had nothing to do with the actual colour of people’s skin. In fact, when complexion was mentioned by an early Western traveller or missionary or ambassador (and it very often wasn’t, because skin colour as a racial marker was not fully in place until the 19th century), East Asians were almost always called white, particularly during the period of first modern contact in the 16th century. And on a number of occasions, even more revealingly, the people were termed “as white as we are”. The term yellow occasionally began to appear towards the end of the 18th century and then really took hold of the Western imagination in the 19th.

But by the 17th century, the Chinese and Japanese were “darkening” in published texts, gradually losing their erstwhile whiteness when it became clear they would remain unwilling to participate in European systems of trade, religion, and international relations. Calling them white, in other words, was not based on simple perception either and had less to do with pigmentation than their presumed levels of civilisation, culture, literacy, and obedience (particularly if they should become Christianised). Swedish botanist and physician Carl Linnaeus decided that varieties of homo sapiens could be similarly separated into four continental types, one of which was called homo asiaticus. The colour of that group, he said, was fuscus, which can be best translated as “dark”. This was in 1735.

Evidently there was some difficulty deciding on a precise colour for Asian Man, since the other three types, European, African, and American, could be “unproblematically” identified according to already accepted stereotypes of white, black, and red. In the tenth edition of Linnaeus’ taxonomy, however, published in 1758, fuscus was silently changed to luridus, meaning “lurid”, “sallow”, or “pale yellow”. The reasons for this alteration were never explained, although luridus also appeared in several of Linnaeus’ botanical publications to characterise unhealthy and toxic plants. Was Asian Man also to be viewed as sickly or dangerous?

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Animals and birds? You sure about that?

Animals And Birds Under Increasing Threat From Plastic Waste (G.)

Wildlife and pets are under increasing threat from plastic waste and litter, according to new data from the RSPCA, which shows the number of incidents of animals hurt by plastic litter has risen sharply on previous years. Plastic litter led to 579 cases of damage to wildlife or pets that were reported to the animal charity in England and Wales in 2018, up from 473 in 2015. That rise came against a background of falling damage to animals from other forms of litter, down from 4,968 reported incidents in 2015 to 4,579 last year. Water birds and marine animals were particularly at risk, with 28 incidents involving seals hurt by plastic litter in 2018, compared with five in 2015. Among birds, swans were among the worst affected, followed by geese and gulls.

Plastic has become an increasing focus of concern, as it does not break down in the natural environment and can continue to cause problems in waterways for years. The government has increased charges on disposable plastic bags to discourage their overuse, and businesses from supermarkets to consumer goods companies are changing their practices to use less plastic packaging in response to public concerns. But the biggest source of damage to wildlife from litter comes from angling, according to the RSPCA’s findings, with discarded equipment such as lines, nets and hooks causing more than 3,200 of last year’s reports.

“[Fishing] lines can wrap around necks, causing deep wounds in flesh and cutting off the blood supply,” said a spokeswoman for the charity. “Hooks can pierce beaks or feet, become embedded in skin or get caught in the bird’s throat, and weights can be swallowed causing internal injuries and blockages.”

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It just got a whole lot scarier. Has plastic been banned where you live yet?

Bacteria Glues Plastic Together Posing Even Deadlier Threat To Sea Life (Ind.)

Plastic in the oceans is being turned into an even greater threat to small sea creatures than previously thought because bacteria are sticking particles of it together, scientists have discovered. Glue-like substances secreted by bacteria are sticking tiny bits of plastic to form larger clusters that marine animals could mistake for food, experts fear. They also worry that the clumping could divert the natural flow of food from the ocean surface to the seafloor, leading to deep sea creatures being starved. Researchers at Heriot-Watt University in Edinburgh staged experiments with seawater, adding plastics in conditions simulating the ocean surface. Within minutes, the minuscule pieces of plastic grouped together with bacteria, algae and other organic particles to form larger clumps.

The scientists are said to have been surprised to discover that large masses of biopolymers – molecules made by organisms – formed the bulk of the plastic clusters. About eight million tonnes of plastic are thrown into the ocean each year, research shows. Team member Stephen Summers said: “This is a first step towards understanding how nanoplastics interact with natural biopolymers throughout the world’s oceans. “This is very important, as it is at this small scale that much of the world’s biogeochemistry occurs.” The clumps became visible to the naked eye. “The fact that these agglomerates become large enough to see raises concern, as they are likely to be seen as a food source by small marine animals,” he said.

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 February 3, 2019  Posted by at 11:11 am Finance Tagged with: , , , , , , , , ,  


Richard Oelze The expectation 1936

 

‘Gilets Jaunes’ Hold 12th Weekend Of Protests, Denounce Police Violence (EN)
More Rubber Bullets And Tear Gas At Yellow Vests Protests (DM)
Rebel Labour MPs Set To Quit Party And Form Centre Group (O.)
Labour Slump Gives Tories Biggest Lead Since General Election (O.)
Voters Will Never Forgive Tories For A No-Deal Brexit Disaster – Minister (O.)
Corbyn Calls For Snap Election To Help Put An End To Austerity (G.)
Queen To Be Evacuated If Brexit Turns Ugly (R.)
“We Are The Meteor… They Are The Dinosaurs…” (Saker)
La Dolce Vita Slips Away Again As Italy Tumbles Back Into Recession (O.)

 

 

 

 

For some reason, found it very hard to find info on the Yellow Vests’ Act 12 yesterday. The media can’t be bothered.

But interesting that some French kangaroo court says sure, keep aiming at your people’s eyes with those Flash-Balls.

Oh, and Macron saying he’s a Yellow Vest too is priceless.

‘Gilets Jaunes’ Hold 12th Weekend Of Protests, Denounce Police Violence (EN)

https://twitter.com/i/status/1091617683160879104

Thousands of “gilets jaunes” (yellow vests) protesters marched through Paris and other French cities on Saturday for the 12th consecutive weekend of anti-government action, as they paid homage to those injured by police in previous demonstrations. Participants carried French flags and placards denouncing the government of President Emmanuel Macron, while a large banner showing photographs of people injured in clashes with police took centre stage at the march in Paris. The protest came after France’s top administrative court ruled on Friday that police could continue using controversial rubber-ball launchers against protesters.

Known as Defence Ball Launchers, the weapons fire rubber projectiles the size of golf balls, and have been blamed for leaving gilets jaunes with serious injuries including lost eyes and broken limbs. The judge said it was “necessary to allow police to use these weapons” because the protests were “frequently the occasion for acts of violence and destruction.” Around 1,000 police officers and 1,700 demonstrators have been injured since the protests began, according to official figures. [..] Macron launched a “Great National Debate” in a bid to resolve the crisis. On Thursday, he said that he too was a gilet jaune “if it meant being in favour of better salaries and having a more effective parliament.”

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The French government has insisted there was ‘no indication’ the guy last week lost his eye to a police projectile. They really do everything wrong.

More Rubber Bullets And Tear Gas At Yellow Vests Protests (DM)

Weapons including controversial rubber bullets were used against French Yellow Vests demonstrating on behalf of the ‘victims of police violence’ as they rioted in central Paris today. Heavily armed officers also used tear gas, baton charges and water cannons against members of the mass anti-government movement, who are named after their high visibility motoring jackets. They were staging their 12th Saturday in a row of demonstrations aimed at getting President Emmanuel Macron to resign. ‘We want him out, but we also want the police to stop wounding us with their Flash Ball weapons,’ said Jacques Caron, a 33-year-old Yellow Vest, who was on the street close to Place de la Bastille. The Interior Ministry reported 80,000 security officials had been deployed across France as the action erupted for a 12th successive Saturday.

In Valance in the south of France, the mayor said measures had been taken to prepare for about 10,000 demonstrators. Authorities fear up to 1,000 of those could be violent rioters. France’s top administrative court ruled Friday that police could continue using a rubber bullet launcher blamed for dozens of injuries during the Yellow Vest protests which have roiled the country since November. Last weekend Yellow Vest leader Jerome Rodrigues, 40, lost an eye after being hit by a fragment from a police projectile fired at him. Like others who have been mutilated in recent months, he said he was hit by a so-called Flash Ball – rubber projectiles fired from police guns. A bid to have them outlawed failed last week, and numerous officers were seen carrying them today.

There were 5,000 police and gendarmes standing by for trouble in the French capital today, and it started in the late afternoon when a march got close to Place de la Republicque. ‘Macron Resign’, the crowd chanted, as they threw bottles and anything else they could find at police. Huge white clouds of tear gas were smothering the area, covering rioters, as well as tourists. By 4pm there had been around 15 arrests in the Paris areas, many of them of suspected rioters carrying potential weapons, and for violent disorder. Rodrigues, 40, has bravely taken to the streets again this weekend after he suffered the life-changing injury. The French government has insisted there was ‘no indication’ he was injured by a police projectile.

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This should have happened at least 3 years ago, so they could have contested the Brexit vote. Useless now.

Rebel Labour MPs Set To Quit Party And Form Centre Group (O.)

A group of disaffected Labour MPs is preparing to quit the party and form a breakaway movement on the political centre ground amid growing discontent with Jeremy Corbyn’s leadership on Brexit and other key issues including immigration, foreign policy and antisemitism. The Observer has been told by multiple sources that at least six MPs have been drawing up plans to resign the whip and leave the party soon. There have also been discussions involving senior figures about a potentially far larger group splitting off at some point after Brexit, if Corbyn fails to do everything possible to oppose Theresa May’s plans for taking the UK out of the EU.

On Saturday night, three of the MPs widely rumoured to be involved in the plans for an initial breakaway – Angela Smith, Chris Leslie and Luciana Berger – refused to be drawn into talk of a split, and insisted they were focused on opposing Brexit. But they did not deny that moves could be made by the spring or early summer. Meanwhile, Brexit was being blamed for playing an “inevitable role” in the reported decision by Nissan to abandon plans to build its X-Trail model at its Sunderland plant. According to Sky News, the company will confirm cancelling plans to build the new version of the SUV on Monday, just 53 days before Britain is scheduled to leave the EU.

Sunderland Central Labour MP Julie Elliott said: “The constant uncertainty, the chaotic government. None of it is conducive to encouraging business investment in this country.” Leslie described rumours of a breakaway as “speculation” but said: “A lot of people’s patience is being tested right now. I think there are some questions we are all going to have to face, especially if Labour enables Brexit.”

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Corbyn couldn’t have done worse if he tried.

Labour Slump Gives Tories Biggest Lead Since General Election (O.)

The Conservatives have recorded their biggest lead since the last general election after support for Labour slumped by six points, according to the latest Opinium poll for the Observer. Theresa May’s party recorded a seven-point lead over Labour in the poll, its biggest since the disastrous election campaign that left her without a majority and relying on the support of Northern Irish DUP MPs. Labour’s support fell from 40% in the last poll to 34%, while Tory support went up from 37% to 41%. It comes despite continued infighting within the government over Brexit, including a record parliamentary defeat for the prime minister over her proposed deal.

The latest Opinium poll suggests that Labour has lost support from both sides of the Brexit debate. Labour has dropped five points among both remainers and leavers. For the first time since the election, less than half of remainers (49%) would opt for Labour. Approval for May’s handling of Brexit had increased slightly, while support for Jeremy Corbyn’s handling of the issue has slumped to an all-time low. May’s approval ratings on Brexit edged up slightly to -30%, with 25% approving and 55% disapproving. Her rating had been -33% a fortnight ago.

Meanwhile, Corbyn’s net rating on the issue is now -44%, with 16% approving and 61% disapproving. His rating was -40% in the last poll a fortnight ago. Only 42% of current Labour voters approve of the way Corbyn has responded to the government on Brexit, while a quarter (26%) disapprove.

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Both existing leading parties in Britain are obsolete. Same as in so many other countries. What’s the big deal? Both Labour and Tories will be gone soon, but with leaving a giant Brexit hole behind.

Voters Will Never Forgive Tories For A No-Deal Brexit Disaster – Minister (O.)

Voters will be right to turn on the Conservative party should it allow Britain to crash out of the European Union without a deal, one of Theresa May’s ministers has warned. With concerns rising about a no-deal Brexit across Whitehall and inside the cabinet, Richard Harrington, a business minister, said that such an outcome would turn “a crisis into a catastrophe”, with manufacturers already stockpiling at the fastest rate since records began in the early 1990s. His intervention comes as some cabinet ministers are understood to believe that they have less than two weeks to persuade the prime minister to back a delay to Brexit, before a vote in parliament could force her hand.

MPs are due to hold another round of Brexit votes on 14 February. One senior government source said it was now “increasingly hard” to see how Britain would leave on schedule at the end of March. Writing for the Observer, Harrington calls on MPs to “grasp the nettle” and force through an extension of Britain’s EU membership, should the government and parliament fail to agree an acceptable exit deal. He also issues a stark warning about the electoral consequences for his party should it allow the UK to crash out of the bloc. “I understand the concerns of some MPs about being seen to delay or frustrate Brexit,” he writes. “And I know that, for others, they just want to ‘get on with it’.

“But however bracing the prospect of instant liberation from the EU may feel in abstract, that sentiment won’t last long when confronted with the economic, legal and practical reality. In the chaos that followed no deal, voters would turn on the Conservative party, and rightly so. “So it is time to focus on what in the end matters most – supporting growth and jobs in the UK … a no-deal Brexit would undermine all our efforts. It would entrench the social and economic divisions in this country, not heal them. And it … would turn a crisis into a catastrophe. That is why on 14 February … parliament needs to rule it out once and for all.”

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Talk about lousy timing. Austerity has been Britian’s main issue for years. But not now. Brexit is the big kahuna now.

Corbyn Calls For Snap Election To Help Put An End To Austerity (G.)

Jeremy Corbyn has called for a snap general election during a meeting of anti-poverty charities in Glasgow. He said people who have experienced “the brunt of nine years of austerity” must be allowed a new vote. The Labour leader met with voluntary organisations and charities working to tackle poverty in south-west Glasgow on Saturday, where he criticised “Tory cuts” while pointing to double-digit yearly increases in food bank use and falling life expectancy in Scotland’s most populated city. “People are suffering under austerity as a direct result of Tory cuts in Westminster passed down by the SNP in Holyrood,” he said. “The people who are bearing the brunt of nine years of austerity cannot wait years for a general election. They need a general election now.”

Corbyn paid tribute to the volunteers and charities that have stepped in to support people who are suffering, but said people should not have to rely on the voluntary sector. “It is a disgrace that people are living on the streets and forced to rely on food banks in one of the richest countries in the world,” he added. “The SNP government has not just passed on Tory austerity, it has quadrupled it for local councils. And this week’s budget will mean another £230m in cuts that will hit local services the people of Scotland rely on. “There is a clear choice between more austerity or a Labour government that will put an end to austerity and build a country for the many, not the few.”

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Enough colonies left still?!

Queen To Be Evacuated If Brexit Turns Ugly (R.)

British officials have revived cold war emergency plans to relocate the royal family should there be riots in London if Britain suffers a disruptive departure from the European Union, two Sunday newspapers have reported. “These emergency evacuation plans have been in existence since the cold war but have now been repurposed in the event of civil disorder following a no-deal Brexit,” the Sunday Times said, quoting an unnamed source from the government’s Cabinet Office, which handles sensitive administrative issues. The Mail on Sunday also said it had learnt of plans to move the royal family, including Queen Elizabeth, to safe locations away from London.

In January an annual speech by the Queen, 92, to a women’s group was widely interpreted in Britain as a call for politicians to reach agreement over Brexit. Jacob Rees-Mogg, a Conservative MP and keen supporter of Brexit, told the Mail on Sunday he believed the plans showed unnecessary panic by officials over a no-deal Brexit as senior royals had remained in London during bombing in the second world war. But the Sunday Times said an ex-police officer formerly in charge of royal protection, Dai Davies, expected Queen Elizabeth would be moved out of London if there was unrest. “If there were problems in London, clearly you would remove the royal family away from those key sites,” Davies was quoted as saying.

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A comment to an article at the Saker that was turned into an article, and copied by Zero Hedge. All nice and all until the anonymous writer says young people since they grew up on the internet are less brainwashed. I’d claim the opposite.

“We Are The Meteor… They Are The Dinosaurs…” (Saker)

The dinosaurs that are in control of our nation are old and do not understand any other way of life other than vicious imperialism. They do not understand compassion, empathy, understanding, respect, or love. The world has been this way for thousands of years. We are attempting to transition from the old ways of conquering, war, domination, and enslavement into an entirely new dimension, but the Old forces are not allowing this transition to come easily. They are fighting with everything they have. They have full control over our nation’s mainstream media establishment, and furthermore they have full control over the world’s global financial system and how it operates. This gives them incredible power to get away with almost anything they want to get away with.

The reality is that most Americans, and I agree with you it’s not right, don’t pay attention to what is actually going on in the world. They have their cars, their houses, and they don’t think too deeply about the world around them. For the have-nots, aka the poor, they are too disenfranchised and homeless or whatever to do anything about it. Nobody is united. There are only small groups, and small pockets of resistance here and there. Previous attempts to break this mold, which were led by John F Kennedy, and Martin Luther King, ended in assassination. Not enough people questioned the official narratives, at the time, surrounding these assassinations. Very few question the events of 9/11 and very few people take a look at what is happening outside of what the mainstream media is telling them. People’s needs are generally taken care of, and that’s all that matters to them.

The only real hope now lies in the younger generations. Those who grew up with the internet. They are a little less brainwashed. They read alternative media. They have access to more information, and therefore, the truth. They are questioning things. They are angry about what is happening and what their country is doing. Furthermore, there is a growing sense amongst the general population that the “powers that be” and the mainstream media do not serve their interests. (Which is why Trump was elected). So I would not say that all hope is lost and the US is doomed to start WW3.

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The Observer tries to go anti-populist, but trips up over the fact that Italy’s been falling for well over a decade, which actually caused the rise of populism.

La Dolce Vita Slips Away Again As Italy Tumbles Back Into Recession (O.)

Sharing his predictions on the economy less than a month ago, Luigi Di Maio, the Italian deputy prime minister, believed the country was on the cusp of an economic miracle akin to the one enjoyed in the 1960s. “During that period we built highways, now we can build digital highways,” he enthused. His comments were met with derisive laughter. There was even less to laugh about on Thursday when figures revealed that Italy, which is saddled with a public debt of about 130% of GDP, had lurched back into recession for the third time in a decade. [..] Officials in Rome can only look back over the past 10 years with sadness. Italian GDP is about 5% below where it stood in 2008 and unemployment, which hovered around 6% before the financial crisis, remains stubbornly at just over 10%.

Poverty levels are up and there is little extra money in the kitty to invest for the future without increasing the country’s enormous debts. A budget forged by the coalition of Salvini’s League party and Di Maio’s Five Star Movement (M5S) was agreed in December after months of battling with the European commission. At issue was the debt mountain and how the coalition planned to increase it in breach of EU rules. The EU’s 3% annual deficit limit was safe, but the rule preventing member states from increasing already high debt-to-GDP levels was going to be contravened. A compromise was reached once the EU accepted forecasts for 2019 that showed Italian GDP increasing by an optimistic 1%.

With the economy now in recession as it enters the new year and GDP growth flat at best, the prospects for maintaining Italy’s debt mountain at 130% of GDP are slim. Lorenzo Codogno, a former chief economist at the Italian finance ministry, believes the budget has set Rome on course for another crisis. “All the leading indicators suggest the first quarter of the year will be as bad as the last, and the second quarter will be flat. It’s likely things will pick up from there, but even then, it will mean the economy finishes the year in a weak position,” he says. Salvini and Di Maio have put increases in pension entitlements and plans to introduce a basic income high on their agenda, along with taxes on banks and cuts to business tax reliefs.

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Jan 312019
 


René Magritte The key to the fields 1936

 

Dovish Fed Sparks Stock-Market Rally And Tanks The US Dollar (MW)
Will The EU To Cave On May’s Brexit At The Very Last Minute? (ZH)
China Manufacturing Contracted For The Second-Straight Month In January (CNBC)
Macron Has Declared War On The French People – Yellow Vest Activist (RT)
UK Consumer Borrowing Slowed Sharply In December, Says Bank of England (Ind.)
British Car Production Slumps To Five-Year Low (G.)
US Refiner CITGO Caught In Venezuela Political Upheaval (R.)
Russia Vows To Defend Its Venezuelan Oil Assets (RT)
US Regime Change Laboratory Created Venezuela’s Coup Leader
Facebook Reports Record Profit, Stock Surges 12% After Earnings (MW)
Mueller: Evidence Against Russian Firm Used In Disinformation Campaign (CNBC)
Mueller Claims Evidence Shared Leaked To ‘Discredit Investigation’ (RT)
Mueller Says Russians Are Altering Evidence From Investigation (Ind.)
Acropolis Museum Director: British Museum Not Owner Of Parthenon Marbles (K.)

 

 

Powel’s Fed started off promising, but now concedes that it doesn’t want functioning markets. Too risky for the rich.

Dovish Fed Sparks Stock-Market Rally And Tanks The US Dollar (MW)

The Federal Reserve and its chairman, Jerome Powell, changed their tune Wednesday, striking a surprisingly dovish tone that sparked a stock-market rally, tanked the U.S. dollar and roiled other financial markets. The Fed hinted that it may be at the end of its rate-hike cycle and further surprised investors by issuing a separate statement regarding its balance sheet, indicating that its efforts to reduce the $4 trillion asset portfolio could end sooner than expected. The tone was seen as an about-face from the Fed’s hawkishly received December meeting when it delivered its fourth rate increase of 2018. “This is one of the most dovish turnarounds by a Fed chair that I have ever seen in my 30-year career,” said Tom di Galoma, managing director at Seaport Global Holdings.

And the initial reaction across markets appeared in keeping with the perceived shift. The message delivered by the Fed “just couldn’t be much better for both bonds and equities and for the credit markets that track Treasurys,” said Mark Grant, chief global strategist at B. Riley FBR, in a note. [..] Not everyone was popping the champagne. Some economists feared the Fed had eroded its credibility, caving in to market pressure. “Talk about a Fed put,” said Ian Shepherdson, chief economist at Pantheon Macroeconomics, in a note, referring to the idea that central bank policy makers have grown increasingly sensitive over the years to stock-market declines and stand ready to intervene in an effort to provide calm.

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Someone in Britain appears to be spreading rumors about Brussels willing to give in. Is that just so May will still be PM at the end of March? Are the Brits going to risk that based on rumors alone?

Will The EU To Cave On May’s Brexit At The Very Last Minute? (ZH)

After a series of embarrassing Parliamentary defeats (and still more embarrassing triumphs over a series of no-confidence votes), Theresa May is we imagine reveling in what was a rare win for on Tuesday: MPs backed an amendment that calls for removing the backstop from her Withdrawal agreement and replacing it with a commitment to find something better after the prime minister vowed to ask the EU to reopen negotiations (something she has reportedly been trying to persuade the block to do behind the scenes for weeks now with little apparent success).

Now that she’s won what her cabinet believes is enough support for a modified version of the deal, having finally corralled a majority for something resembling her current deal, the hard work truly begins: Convincing the EU to reopen negotiations on the withdrawal agreement, something officials have publicly insisted will not happen (though there have been whispers that they have been slowly coming around to the idea). In a speech on Wednesday, European Commission President Jean Claude Juncker blasted the vote as irresponsible and once again insisted that removing the backstop from the agreement is out of the question. “This is not a game,” he said, according to Bloomberg.

If there’s anything new to take away from the developments of the past two days, it can be found in a Bloomberg report published Wednesday afternoon that effectively confirmed what many have long suspected: That there won’t be any movement on the deal – either from the EU or, likely, the UK, until the last possible minute. According to BBG, EU diplomats have pointed to a last-minute summit set for March 21 and March 22 – just a week before Brexit Day – as the likely time when a deal may finally be struck.

“The European Union is prepared to take Brexit down to a last-minute, high-stakes summit rather than cave into U.K. Prime Minister Theresa May’s demands over the next few weeks, diplomats said. Although May is getting ready to head back to Brussels to reopen the Brexit deal that she negotiated over the past 18 months, the EU isn’t planning to give her any concessions before she returns for a vote in the British Parliament on Feb. 14, according to the diplomats. Behind closed doors, European officials are sticking to their well-coordinated public line that they won’t rework the deal.”

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And that’s official numbers.

China Manufacturing Contracted For The Second-Straight Month In January (CNBC)

China said on Thursday its manufacturing activity contracted for the second-straight month in January — another sign that the world’s second-largest economy is slowing down amid domestic headwinds and the ongoing trade dispute with the U.S. The official manufacturing Purchasing Managers’ Index (PMI) for January was 49.5, according to the Chinese National Bureau of Statistics. That’s higher than the 49.3 expected by analysts in a Reuters poll, and the 49.4 reported in the previous month when China’s manufacturing PMI fell into contraction territory for the first time since July 2016. The PMI — a widely-watched indicator — is a survey of businesses in a specific industry about the operating environment.

A reading above 50 signals expansion in the sector from the previous month, while one below 50 represents contraction. Meanwhile, China’s services PMI for January came in at 54.7 — better than the 53.8 reported in the previous month, according to official data. The services sector accounts for more than half of the Chinese economy and has helped cushion the impact of a slowing manufacturing industry. Despite the better-than-expected PMI numbers, some economists said the statistics — particularly the manufacturing data — still point to a weakening Chinese economy.

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See my article last night: Flash-Balls, Pitchforks And A Backstop

Macron Has Declared War On The French People – Yellow Vest Activist (RT)

The French government won’t stop the Yellow Vests by force, but only by doing what the people demand, according to prominent protester Jerome Rodrigues, who may remain blind in one eye after being injured by the police. “The president [Emmanuel Macron] declared war on us and our injuries are battle wounds. The traumatic weapons are equipped with collimators [optical sights] – such equipment is used on the battlefield, at war,” Rodrigues told RT. “I never thought that such a thing could happen in France,” he added, describing what the country has been going through in recent months as “dark times.” The activist, who calls himself “a hyper pacifist,” was broadcasting live on Facebook from a rally in Paris last weekend when a police officer fired at him from an LBD 40 non-lethal gun.

A projectile hit him in the eye, leading to hospitalization and a medically induced coma. The man said “there are no guarantees that the injured eye will be able to see again.” Now we understand that by going to a rally we put ourselves at risk of becoming victims of the government. It happened to me, but could’ve well happened to anyone,” Rodrigues said. The French authorities are employing violence to scare the people off the streets, but “we won’t retreat,” he said. Rodrigues promised to resume protesting after he gets better, saying that his family fully supported him in this decision.

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The hurt is only starting.

UK Consumer Borrowing Slowed Sharply In December, Says Bank of England (Ind.)

UK consumer borrowing slowed sharply in December, adding to the impression of weakening confidence among households ahead of Brexit. The Bank of England reported that the annual growth of unsecured lending in the month fell to 6.6 per cent, down from 7.2 per cent in November. This was the weakest figure since December 2014. Credit card lending growth slowed to 7.1 per cent, down from 7.9 per cent the previous month. Surveys have shown consumer confidence to be at a 5 year low due, in part, to concerns over Brexit.

The Bank of England’s credit conditions survey showed last week showed that demand over the next three months for such unsecured lending is expected by lenders to be the weakest since the survey began in 2007. Household spending accounts for around 60 per cent of the UK economy, and any weakening of the appetite for consumers to spend will be negative for overall GDP growth. The UK economy grew by 0.6 per cent in the third quarter of 2018 but GDP growth is likely to have fallen sharply in the final three months of the year as business investment and household spending fell.

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Good! Fewer cars!

British Car Production Slumps To Five-Year Low (G.)

British car production dropped to a five-year low in 2018, as manufacturers warned that fears of a no-deal Brexit have prompted a slump in new investment. UK car factories produced 1.52m vehicles last year, 9.1% fewer than 2017, according to figures published on Thursday by the Society of Motor Manufacturers and Traders (SMMT), the UK auto industry lobby group. Production for the British market fell by 16.3%. Investment into British car manufacturing almost halved during the year to £588.6m, a fall which the SMMT blamed on Brexit uncertainty.

Publicly announced investments were lower than in any year since 2012, the first year comparable data was collected. “Investment is effectively stalled,” said Mike Hawes, the SMMT’s chief executive. “Industry is waiting to see what happens. Business is sitting on its hands in terms of investment.” The global automotive industry is already struggling with multiple challenges. Car sales in China fell in 2018 for the first time since the 1990s, while demand for diesel vehicles in Europe has been rocked by the regulatory backlash to Volkswagen’s emissions-cheating scandal.

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CITGO is a Venezuelan refiner.

US Refiner CITGO Caught In Venezuela Political Upheaval (R.)

Citgo Petroleum Corp, the eighth largest U.S. refiner and Venezuela’s top foreign asset, is in the middle of a tug-of-war as the Trump administration tries to use the company as leverage to topple Venezuelan President Nicolas Maduro. Following the U.S. decision to impose sanctions on Venezuela’s oil industry this week, both sides have engaged in aggressive moves for control of Citgo, which has roots in the United States dating back 100 years, but has been owned by Venezuela’s state-owned Petroleos de Venezuela, or PVDSA, for three decades.

[..] As Guaido this week worked with Washington to wrest control of the company, Venezuela responded by ordering dozens of Citgo’s expatriate staff in the United States to return to Caracas by the end of February, people familiar with the matter said. Earlier in the week, Citgo sent a team of executives to Washington amid efforts by Guaido and the U.S. government to appoint a new board of directors for Citgo, the people said. PDVSA also has said it would pursue legal efforts to block a Citgo takeover. White House national security adviser John Bolton on Wednesday tweeted photos confirming the meeting with Citgo executives. “The United States is continuing to work to make sure that the economic benefits of Venezuela’s resources are not pilfered by Maduro and his cronies,” he wrote.

[..] The Houston-based company has accumulated cash and credit lines in recent months as dividends payments to Caracas have been blocked by U.S. sanctions imposed in 2017. [..] Citgo has been struggling to refinance a revolving line of credit, a task that must be completed by July

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Putin: So far, so soft.

Russia Vows To Defend Its Venezuelan Oil Assets (RT)

Russia will defend its interests in Venezuela within the international law using “all mechanisms available to us,” Dmitry Peskov, spokesman for Russia’s President Vladimir Putin, told Russian media on Tuesday. Russia has kept close ties with Venezuelan President Nicolas Maduro and has extended loans to Venezuela, including oil firm Rosneft lending money to Venezuela’s state-held firm PDVSA. Rosneft has extended $6 billion of loans to PDVSA, which needs to be fully redeemed in crude oil supplies by the end of this year. According to S&P Global Platts, as of November 2018, Venezuela had $3.1 billion outstanding loan to repay to Rosneft. The Russian company also has five joint upstream projects with PDVSA in Venezuela.

However, the US Treasury slapped another round of sweeping sanctions against PDVSA on Monday, in order to “help prevent further diverting of Venezuela’s assets by Maduro and preserve these assets for the people of Venezuela.” The US backed last week Juan Guaido, the chairman of the National Assembly, as the legitimate president of Venezuela, after Guaido declared himself interim president. “The path to sanctions relief for PdVSA is through the expeditious transfer of control to the Interim President or a subsequent, democratically elected government,” Secretary of the Treasury Steven T. Mnuchin said. The Kremlin considers the sanctions against PDVSA as “illegal”, a sign of “unfair competition” and an attempt to interfere with Venezuela’s internal affairs, Peskov said on Tuesday. Russia is assessing the potential consequences of the sanctions on PDVSA for Moscow, Peskov added.

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Dan Cohen and Max Blumenthal paint the picture.

US Regime Change Laboratory Created Venezuela’s Coup Leader

Before the fateful day of January 22, fewer than one in five Venezuelans had heard of Juan Guaidó. Only a few months ago, the 35-year-old was an obscure character in a politically marginal far-right group closely associated with gruesome acts of street violence. Even in his own party, Guaidó had been a mid-level figure in the opposition-dominated National Assembly, which is now held under contempt according to Venezuela’s constitution. But after a single phone call from from US Vice President Mike Pence, Guaidó proclaimed himself president of Venezuela. Anointed as the leader of his country by Washington, a previously unknown political bottom-dweller was vaulted onto the international stage as the US-selected leader of the nation with the world’s largest oil reserves.

Echoing the Washington consensus, the New York Times editorial board hailed Guaidó as a “credible rival” to Maduro with a “refreshing style and vision of taking the country forward.” The Bloomberg News editorial board applauded him for seeking “restoration of democracy” and the Wall Street Journal declared him “a new democratic leader.” Meanwhile, Canada, numerous European nations, Israel, and the bloc of right-wing Latin American governments known as the Lima Group recognized Guaidó as the legitimate leader of Venezuela. While Guaidó seemed to have materialized out of nowhere, he was, in fact, the product of more than a decade of assiduous grooming by the US government’s elite regime change factories.

Alongside a cadre of right-wing student activists, Guaidó was cultivated to undermine Venezuela’s socialist-oriented government, destabilize the country, and one day seize power. Though he has been a minor figure in Venezuelan politics, he had spent years quietly demonstrating his worthiness in Washington’s halls of power.

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Amid reports that at least 50% of its accounts are fake.

Facebook Reports Record Profit, Stock Surges 12% After Earnings (MW)

After weeks of controversy, Facebook Inc. reported record profits — about $1 billion more than any previous quarter — as the company beat Wall Street expectations for fourth-quarter earnings and revenue late Wednesday, sending shares soaring. Record profits, a growing user base and healthy top line suggest that Facebook’s base of advertisers is continuing to pour dollars into the social networking giant’s swath of apps and services that now attract 2.7 billion people a month around the world. The strong results cap weeks of negative news cycles that has evidently left Facebook relatively unscathed.“Facebook has had so much bad news — even this week,” Forrester analyst Brigitte Majewski said over the phone, referring to another scandal that surfaced this week.

“But you can’t deny the numbers. They’ve had an increase in daily active users, and growth in all regions.” The company reported $6.88 billion in net income for the fourth quarter, which amounts to $2.38 a share, up from $1.44 a share in the year-ago period. Analysts’ average estimates for fourth-quarter profits called for $2.18 a share, according to FactSet. Overall, Facebook logged sales of $16.91 billion, up from $12.97 billion in the year-ago period, beating Wall Street expectations for sales of $16.39 billion, according to FactSet. Facebook’s main source of revenue is ads, which brought in 93% of revenue, up from 89% in the year-earlier period.

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A few versions of the same thing, first CNBC and RT, different for obvious reasons, then Independent, who report what most others completely missed (NY Post is an exception), which is that Mueller claims the evidence was altered.

Mueller: Evidence Against Russian Firm Used In Disinformation Campaign (CNBC)

Special counsel Robert Mueller claimed Wednesday that evidence in one of his criminal cases related to Russian interference in the 2016 presidential campaign was recently used in an online disinformation campaign, apparently to discredit Mueller’s investigations. Mueller made that allegation in a court filing in his criminal case pending against Concord Management and Consulting, a Russian company owned by Yevgeny Prigozhin, the oligarch who is known as “Putin’s chef.” The special counsel charged Concord Management last year with funding a multimillion-dollar social media disinformation campaign to bolster the presidential campaign of Donald Trump.

Mueller’s filing Wednesday objects to Concord’s request that the special counsel be compelled to disclose documents he has deemed “sensitive” to the defendant and its employees as it prepares for trial.Concord wants to be able to send that information to Russia for review by company officers and employees. But Mueller said in his filing that doing so “unreasonably risks the national security interests of the United States.” The special counsel said that Concord should not be given such sensitive material because of alleged misuse in October by an unknown party of “non-sensitive” materials already in Concord’s possession as a result of the normal discovery process that litigants use to share information during a court case.

Mueller said that “sensitive” materials identifies individuals and entities that have not been criminally charged, but whom “the government believes are continuing to engage in operations that interfere with lawful U.S. government functions like those activities charged in the indictment.” [..] The special counsel said that, “On October 22, 2018, the newly created Twitter account @HackingRedstone published the following tweet: ‘We’ve got access to the Special Counsel Mueller’s probe database as we hacked Russian server with info from the Russian troll case Concord LLC v. Mueller. You can view all the files Mueller had about the IRA and Russian collusion. Enjoy the reading!'”

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What Mueller really wants is to stop Concord from fighting his probe. He never expected them to come to court. He thought they were just more anonymous Russians he could accuse of anything he wanted without being called on it.

Mueller Claims Evidence Shared Leaked To ‘Discredit Investigation’ (RT)

In an apparent bid to shield his case against alleged Russian trolls from legal challenge, special counsel Robert Mueller claimed some evidence previously provided was hacked and published to discredit his probe. On Wednesday, Mueller filed a motion to oppose discovery in case against Concord Management and Consulting LLC, which he indicted last February on charges of running the Internet Research Agency, also known as the “St. Petersburg troll factory.” “Sensitive” evidence in the case cannot be turned over to Concord’s lawyers, because that would make it accessible to their clients in Russia – and back in October, Mueller claimed, someone claimed to have hacked Concord’s computers and posted evidence previously handed over online “as part of a disinformation campaign aimed (apparently) at discrediting ongoing investigations into Russian interference in the US political system.”

It was that claim that got the attention of the media and the ‘Russiagate’ crowd. What Mueller actually alleges is less headline-worthy and far more tenuous. Namely, on October 22 last year, a Twitter account @HackingRedstone claimed to have gained “access to the Special Counsel Mueller’s probe database as we hacked Russian server with info from the Russian troll case Concord LLC v. Mueller,” offering “all the files Mueller had about the IRA and Russian collusion.” According to a footnote in the filing, Mueller’s team was informed of this by an unnamed reporter. However, the Twitter account referenced comes up as suspended, and aside from that notice there are no entries for it in the Internet Archive, making Mueller’s claim impossible to independently verify.

The webpage allegedly linked in the tweet is said to have contained “file folders with names and folder structures that are unique to the names and structures of materials… produced by the government in discovery.” Of the 300,000 files on the site, “over 1,000” matched the hashtag values of documents provided by Mueller to Concord, the filing said. Mueller argued these must have been obtained from Concord, because the FBI “found no evidence” that US government servers fell victim to any hack involving the files. Somewhat confusingly, the filing argued that many other file names used a reference to the Relativity database, which the US government “has not used” to store materials related to this case. Concord’s lawyers have informed the court that the company’s computers have not been hacked, but Mueller’s filing accused them of lying, saying that the webpage contained “actual discovery materials from this case.”

[..] To wit, Mueller is making an assertion based on a tweet and a webpage – that currently do not exist – to argue that it should not disclose further “sensitive” evidence to defendants in a Russiagate case.

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How did the majority of news outlets miss that Mueller claims the info was altered? They didn’t read it?

Mueller Says Russians Are Altering Evidence From Investigation (Ind.)

Russians have obtained evidence from special counsel Robert Mueller’s inquiry into Moscow’s interference in US politics and altered it in a bid to discredit the probe, federal prosecutors have claimed. The files were shared with attorneys working for Concord Management and Consulting, a Russian company that allegedly funded hacking operations by Russia’s Internet Research Agency (IRA), they said in a court filing. The sharing evidence and documents between prosecutors and defence lawyer as part of routine discovery is common legal practice. But the files shared by Mr Mueller’s investigation were later uploaded and disseminated on Twitter in October.

However, the files shared online, “appear to have been altered and disseminated as part of a disinformation campaign aimed (apparently) at discrediting ongoing investigations into Russian interference in the US political system,” the court filing states. A team had reviewed files to determine that roughly 1,000 files linked to by that account out of 300,000 available matched non-public evidence provided. “The fact that the file folder names and folder structure on the webpage significantly match the non-public names and file structure of the materials produced in discovery, and the fact that over 1,000 files on the webpage match those produced in discovery, establish that the person(s) who created the webpage had access to at least some of the non-sensitive discovery produced by the government in this case,“ the filing states.

Concord Management was among 13 Russian entities or people to be charged in connection with Mr Mueller’s investigation last February. Mr Mueller’s team has charged dozens of Russian individuals or entities for attempting to influence the 2016 presidential election, primarily through hacking Democratic Party email systems. The most recent filing argued that attorneys for Concord should not be given access to “sensitive” evidence gathered for the case. It said: “The person who created the webpage used their knowledge of the non-sensitive discovery to make it appear as though the irrelevant files contained on the webpage were the sum total evidence of ‘IRA and Russian collusion’ gathered by law enforcement in this matter in an apparent effort to discredit the investigation.”

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Amal Clooney told Greece in 2015 to take Britain to an international court. They didn’t.

The marbles stem from 2,500 years ago. Their splendor is unmatched, at least until the Romans, and the Middle Ages. They were stolen by Britain when the Ottomans had invaded Greece.

Acropolis Museum Director: British Museum Not Owner Of Parthenon Marbles (K.)

The British Museum is not the legal owner of the Parthenon Marbles and therefore the long-running dispute with Greece over their fate could only be resolved with their unconditional repatriation and not with a lending plan, the director of the Acropolis Museum, Dimitrios Pandermalis, reportedly told German public radio on Wednesday. “The full return of the Parthenon Marbles is the only solution. Everything that is inextricably linked to the monument must be reunited,” he was quoted as telling Deutschlandfunk, adding that the sculptures exhibited in London form an integral part of the monument. He also said his museum would gladly offer something to the British Museum in exchange for the marbles’ return, without going into details.

Pantermalis was responding to Hartwig Fischer, the director of the British Museum, who dismissed the possibility of returning them to Greece, arguing that their exhibition in London is in “a context of world cultures.” “The Trustees of the British Museum feel the obligation to preserve the collection in its entirety, so that things that are part of this collection remain part of this collection,” he was quoted as telling Greek daily Ta Nea in an interview published on January 26. Asked if that is the reason why the Museum will not permanently return the Sculptures, he replied: “Yes”. In another part of the same interview he said they are “in the fiduciary ownership of the Trustees of the Museum.”

Fischer also said that the removal of the marbles from Greece in the 19th century could be seen as “a creative act.” The sculptures are the work of great Athenian sculptor Phidias who added them to the Parthenon in the fifth century BC. In the early 19th century, men working for the 7th Earl of Elgin dismantled a large part of the frieze and shipped the sculptures back to London.

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Jan 302019
 
 January 30, 2019  Posted by at 10:25 am Finance Tagged with: , , , , , , , , , , ,  


Pablo Picasso Bathers and dog 1922

 

French Police Weapons Under Scrutiny After Gilets Jaunes Injuries (G.)
May Regains Control Of Brexit, But Has No Idea What To Do With It (Ind.)
UK MPs Vote To Renegotiate Irish Backstop (G.)
There Will Be No Renegotiation Of Irish Backstop, Says EU (G.)
British Parliament Rules Out Hard Brexit (MW)
UK Demands Brexit Deal Change, EU Says: ‘Non’ (R.)
Theresa May’s Victory: A Pyrrhic Success Built On Fantasy (G.)
Venezuela Supreme Court Freezes Guaidó’s Bank Accounts, Imposes Travel Ban (G.)
Apple Reports First Decline In Revenues And Profits In Over A Decade (G.)
How Hard China’s Slowdown Could Hit Global Economic Growth (MW)
China Fast Tracks New Foreign Investment Law As US Talks Loom (R.)
US, China Face Deep Trade, IP Differences In High-Level Talks (R.)
Scientists Demand Military Sonar Ban To End Mass Whale Strandings (Ind.)

 

 

This may seem an odd choice to open a Debt Rattle with, but it’s really not. The Guardian reporting that French police weapons are under scrutiny is a perfect example of how western media refuse to report on what is happening in France. This is not about a choice of weapons, but about instructing police to inflict brutality on their own people. A high-profile Yellow Vest ‘member’ lost an eye, and that’s bad, but he’s number 17 to which this happens that we know of, an equal amount of people have died, scores have lost limbs, and there’s a whole range of other serious injuries.

Where are the detailed reports on all that? There are plenty videos out there of crazy police brutality, but the MSM leaves them alone. And here I’m wondering what happened to the police we saw just weeks ago coming together with protesters. What are the instructions that brought on this move into unparalleled violence, and who issued them? What we do see about Macron is his demands for Maduro to step down. Somone needs to demand he does just that himself.

Like Britain with its fantasy Brexit soap opera, France finds itself in a very deep democracy crisis. The media ignoring that doesn’t make a difference anymore. You can bet the French see it all on social media.

French Police Weapons Under Scrutiny After Gilets Jaunes Injuries (G.)

The French government is under growing pressure to review police use of explosive weapons against civilians after serious injuries were reported during gilets jaunes street demonstrations, including people alleged to have lost eyes and to have had their hands and feet mutilated. France’s legal advisory body, the council of state, will on Wednesday examine an urgent request by the French Human Rights League and the CGT trade union to ban police from using a form of rubber-bullet launcher in which ball-shaped projectiles are shot out of specialised handheld launchers. France’s rights ombudsman has long warned they are dangerous and carry “disproportionate risk”.

Lawyers have also petitioned the government to ban so-called “sting-ball” grenades, which contain 25g of TNT high-explosive. France is the only European country where crowd-control police use such powerful grenades, which deliver an explosion of small rubber balls that creates a stinging effect as well as launching an additional load of teargas. The grenades create a deafening effect that has been likened to the sound of an aircraft taking off. France’s centrist president, Emmanuel Macron, is facing renewed calls to ban such weapons after Jérôme Rodrigues, a high-profile member of the gilets jaunes (yellow vests) demonstrators was hit in the eye on Saturday in Paris. He is said by his lawyer to have been disabled for life.

Rights groups say Rodrigues’s case is the tip of the iceberg. Lawyers estimate that as many as 17 people have lost an eye because of the police’s use of such weapons since the start of the street demonstrations, while at least three have lost their hands and others have been left with their face or limbs mutilated. Injuries have happened at demonstrations in Paris and other cities, including Bordeaux and Nantes.

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May ‘wins’ permission to change her own Brexit deal. Which she repeatedly said cannot be changed.

Apologies if some of the following articles appear to repeat, I wanted a few different points of view. Not that any of them put their fingers where it hurts: a deep deep crisis.

May Regains Control Of Brexit, But Has No Idea What To Do With It (Ind.)

What to say, at the end of another “historic” day in the Greatest S***show on Earth? We reach again into the “it’s like…” cupboard but this time it’s completely bare. There are no more bald men and no combs to come to our service. There are no boulders and no hills. There are no deckchairs, no Titanic, no piss ups and no breweries. There are no turds and no polish. Even the glitter has all run out. There is now only the thing itself, reaching beyond all similitude. Brexit: The Eternal Crapness. The Unsurpassable Embarrassment. There is no spice worth adding to the events themselves. No salt can augment the terrifying umami of such base inadequacy.

So here’s what happened. The House of Commons voted to rule out “no deal.” But it also voted against both the practical solutions put on the table to make it happen. It voted to send Theresa May back to Brussels to re-open negotiations on the Withdrawal Agreement. At the precise moment it did so, the European Commission released a statement saying it cannot be re-opened. Theresa May was victorious, in her own way. But she was victorious in the defeat of her own deal. A small bit of background might be useful. In November, after two years of boldly claiming “no deal is better than a bad deal”, Theresa May finally achieved a deal, which everyone instantly agreed was bad.

Theresa May, on several occasions, has agreed it is bad. At that point, she stood outside 10 Downing Street and said that, actually, it turns out, a bad deal was better than no deal. And, more to the point, that this was “the only deal.” Over the last two months, she has stood at the despatch box of the House of Commons and declared that her deal is “the only deal”, that it “cannot be renegotiated” upwards of a hundred times, spread over more than twenty hours. She has said it is “the only deal”, and that it “cannot be renegotiated”, because the European Union have said the same themselves, with the same regularity, and the same consistency. Now, she has decided it can be renegotiated after all, which it can’t.

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It’s no longer Theresa May’s delusion, all MPs are now accomplices. And that certainly includes Jeremy Corbyn. How can you vote for something you know doesn’t exist? Or just sit there while others do it?

UK MPs Vote To Renegotiate Irish Backstop (G.)

Theresa May was handed a two-week deadline to resuscitate her Brexit deal last night after she caved to Tory Eurosceptics and pledged to go back to Brussels to demand changes to the Irish backstop. With just 59 days to go until exit day, MPs narrowly passed a government-backed amendment, tabled by the senior Tory Graham Brady, promising to replace the Irish backstop with unspecified “alternative arrangements”. But within minutes of the Commons result the European council president, Donald Tusk, announced that the EU was not prepared to reopen the deal. “The withdrawal agreement is, and remains, the best and only way to ensure an orderly withdrawal of the United Kingdom from the European Union,” a spokesman for Tusk said.

“The backstop is part of the withdrawal agreement, and the withdrawal agreement is not open for renegotiation.” Leo Varadkar, the Irish taoiseach, said the EU needed to “hold our nerve”. On a dramatic day in Westminster the House of Commons also served notice that it would not support the government if it pursued a no-deal Brexit, undermining what May regards as one of her key bargaining chips in the days ahead. However, May said: “It is now clear that there is a route that can secure a substantial and sustainable majority in this house for leaving the EU, with a deal.” She repeatedly stressed protections for workers’ rights, as well as mooting changes to the backstop in the hope of winning over Labour MPs, and promised to keep “battling for Britain”

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This has been obvious for a long time.

There Will Be No Renegotiation Of Irish Backstop, Says EU (G.)

Theresa May immediately hit a brick wall in Brussels after being backed by MPs to reopen the withdrawal agreement, as Donald Tusk, with the backing of Emmanuel Macron, said the EU would not renegotiate. Within minutes of the Commons backing the prime minister’s plan to replace the Irish backstop, a spokesman for the European council’s president insisted Tusk would not permit any changes to the deal already agreed with Downing Street. Tusk, the EU’s most senior official, instead urged the prime minister to explain her next steps, claiming the agreement negotiated over the last 20 months “remains the best and only way to ensure an orderly withdrawal of the United Kingdom from the European Union”.

The spokesman added: “The backstop is part of the withdrawal agreement, and the withdrawal agreement is not open for re-negotiation.” In an apparent sign that the EU now fears that the impasse in the Brexit talks is unlikely to be broken within the coming weeks, Tusk’s spokesman said Brussels was open to a delay to Brexit beyond 29 March. An amendment backed by the Labour MP Yvette Cooper ordering the government to ask for an extension was defeated on Tuesday evening but the Commons is set to vote again in mid-February. “Should there be a UK reasoned request for an extension, the EU27 would stand ready to consider it and decide by unanimity”, the spokesman said. “The EU27 will adopt this decision, taking into account the reasons for and duration of a possible extension, as well as the need to ensure the functioning of the EU institutions.”

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Ironically, they may not have the power to rule it out. If May doesn’t ask for an Article 50 extension soon enough, a Hard Brexit will just happen.

British Parliament Rules Out Hard Brexit (MW)

The British Parliament on Tuesday passed an amendment to rule out a no-deal or hard Brexit, as well as an amendment to replace the Irish backstop proposal with an ‘alternative arrangement’. The outcome of the parliamentary vote is not legally binding for the government. The no-deal amendment passing indicates that a no-deal Brexit scenario continues to be the least likely, supporting market expectations. Prime Minister Theresa May said she would take this mandate to obtain legally binding changes in the EU withdrawal agreement. Parliament voted on a total of seven amendments on Tuesday, which included a proposal extend the Brexit timeline and to postpone the Brexit date if no deal was found until late February. The British pound plummeted against both the U.S. dollar and the euro after the latter amendment got rejected.

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Blatant nonsense and a lie: “There is limited appetite for such a change in the EU and negotiating it will not be easy,” said May..

UK Demands Brexit Deal Change, EU Says: ‘Non’ (R.)

Less than two months before the United Kingdom is due by law to leave the EU, investors and allies are trying to gauge where the Brexit crisis will ultimately end up with a disorderly Brexit, a delay to Brexit, or no Brexit at all. Two weeks after voting down May’s Brexit deal by the biggest margin in modern British history, parliament demanded she return to Brussels to replace the so-called Irish backstop, an insurance policy that aims to prevent the reintroduction of a hard border between Ireland and Northern Ireland. “There is limited appetite for such a change in the EU and negotiating it will not be easy,” May told lawmakers who voted 317 votes to 301 to support the plan, which had the backing of influential Conservative lawmaker Graham Brady.

“I agree that we should not leave without a deal. However, simply opposing no deal is not enough to stop it,” said May, an initial opponent of Brexit who won the top job in the chaos following the 2016 referendum. May said she would seek “legally binding changes” to the divorce deal which she clinched in November with the EU after two years of tortuous negotiations. In essence, May will try to clinch a last-minute deal by using the implicit threat of a no-deal Brexit from the other 27 members of the EU whose economy is, combined, about six times the size of the United Kingdom’s. The response from European capitals was blunt.

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Nobody has the guts to tell the empress about her wardrobe.

Theresa May’s Victory: A Pyrrhic Success Built On Fantasy (G.)

Theresa May won a rare triumph on Tuesday night in the Commons. She came back from the greatest parliamentary loss by a government to secure, miraculously, a majority to refresh her wilted withdrawal agreement. Mrs May has had to vote against her own defeated deal to do so. She has had to offer MPs another chance to judge her government in a fortnight’s time. She has had to offer assurances that workers’ rights would be respected and that going forward she would take MPs of all opinions into her confidence. These are undoubtedly moves in the right direction.

However, it is difficult to see how the prime minister will deliver on her parliamentary success. Much more likely, her victory will turn out to be a pyrrhic one. Mrs May put party before country to be on the winning side of the parliamentary vote. She did so by hitching a lift on a Brexiter flight of fantasy, telling MPs she can achieve a “significant and legally binding change to the withdrawal agreement” which would provide “alternative arrangements” to the Irish backstop. The danger is that Mrs May has raised expectations that cannot be met. The backstop is an insurance mechanism in the exit treaty – designed to prevent a hard border on the island of Ireland – which angered Brexiters who say it potentially traps the UK in a customs union with the EU.

Earlier this month Mrs May told MPs: “The simple truth is that the EU was not prepared to agree to [changes in the withdrawal agreement] and rejecting the backstop … means no deal.” What was impossible before is now apparently just difficult. The prime minister effectively told MPs she could renegotiate the backstop element of her Brexit deal and replace it with a free-trade agreement with as-yet-unknown technology to avoid customs checks on the Irish border. The French president, Emmanuel Macron, was quick to say the withdrawal agreement would not be reopened, a put down that will be hard to live down.

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Now it’s the CIA vs the Supreme Court. We’re waiting for Putin.

Venezuela Supreme Court Freezes Guaidó’s Bank Accounts, Imposes Travel Ban (G.)

Venezuela’s supreme court has imposed a travel ban and financial restrictions on self-declared interim president Juan Guaidó, including freezing his bank accounts. On Tuesday, the political crisis deepened as the country’s attorney general ordered an investigation into the opposition leader, who last week declared himself interim president in a rare challenge to the incumbent, Nicolás Maduro. Tarek Saab, a Maduro loyalist, announced that Juan Guaidó – who has received the backing of the US and other regional powers including Brazil and Colombia – would be investigated over his supposed role in “serious crimes that threaten the constitutional order”.

Hours earlier the US tightened the screws on Maduro by announcing sweeping sanctions against the country’s state-owned oil company PDVSA in what experts said was an attempt to economically asphyxiate his regime. A series of anti-Maduro demonstrations are due to take place on Wednesday in Caracas, the capital, and across the country. Speaking to Russian news agency RIA on Wednesday morning, Maduro said he was ready for talks with the opposition, with the participation of international mediators. “I am ready to sit at the negotiation table with the opposition for us to talk for the benefit of Venezuela, for the sake of peace and its future,” he said. Maduro said the US sanctions were one of US national security adviser John Bolton’s “craziest” ideas and that he would emerge the victor in the standoff.

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So stocks soar 6%. Obviously.

Apple Reports First Decline In Revenues And Profits In Over A Decade (G.)

Apple reported its first decline in revenues and profits in over a decade on Tuesday. Weak iPhone sales and a downturn in China reduced the tech company’s revenue by 4.5% to $84.3bn in the three months ending 29 December compared with the same period last year. Profits fell slightly to $19.97bn. Revenues from China were $13.17bn during the quarter, a drop of nearly $5bn from a year ago. The results came three weeks after Apple shocked investors with its first profits warning since 2002. It has been a trying month for Apple. On 3 January Apple cut its sales forecasts for the key end of year period citing the “magnitude” of the economic slowdown in China.

It was the first profits warning Apple has made since it launched the iPhone, a product that propelled the company into the top tier of tech companies and briefly made it the most valuable company in history. That warning wiped $55bn (£44bn) off the company’s value, led to its shares being briefly suspended and rattled investors worldwide as analysts began to worry about how other companies might be hit by China’s slowing growth. Apple’s share price has since recovered but remains $266bn less than the record-breaking $1tn the company was valued at in August, the first company ever to be valued that high. [..] Apple’s share price rose over 6% in after hours trading following the release of its latest financials. The numbers were broadly in line with analysts’ expectations and iPhone revenues were higher than expected.

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So when are governments and markets demand China come clean on its actual numbers?

How Hard China’s Slowdown Could Hit Global Economic Growth (MW)

The slowdown in global growth bears strong resemblance to a 2015-16 episode that was driven in large part by softness in China. This time around, China’s problems could prove even more damaging, warned economists at Oxford Economics. “The Chinese slowdown could have serious negative consequences for world growth if it intensifies. Our model simulations suggest that world growth could slow to a decade low of 2.3% in 2019 if Chinese growth slows sharply and could drop below 2% in the event of a combined slowdown in China and the U.S.,” wrote Adam Slater and John Payne in a Tuesday note (see chart).

The warning comes as investors attempt to parse the drag China’s woes could have on earnings for U.S. corporations as earnings season moves into full swing. Shares of Caterpillar slumped Monday after it blamed weak demand from China in part for sales that badly missed Wall Street expectations. Caterpillar was the latest of a growing number of industrial companies who have said sales are softening in China. [..] the economists noted three ways China’s problems can weigh on global growth:

• Weaker domestic demand growth in China cuts imports of final goods (consumer and investment goods) from the rest of the world (ROW).
• Weaker Chinese export growth reduces demand for imports of intermediates and raw materials from ROW, a significant channel given the relatively high import content of Chinese exports.
• Weaker Chinese demand pushes down prices of key global commodities like iron ore and copper, inflicting terms of trade losses on exporters of these products (mostly emerging markets).

“All these channels seem to be operating,” the economists wrote, noting that China’s import volumes fell sharply in late 2018, with some of the biggest falls suffered by the country’s key Asian partners and component suppliers such as Singapore, Korea, Thailand and Taiwan. China-sensitive commodities are also beginning to feel pressure, they noted, with an index they use to track prices off 11% year-over-year in January after being up 16% year-over-year as recently as May. And the effects of the U.S.-China trade dispute are becoming visible, with China’s goods imports from the U.S. down 30% year-over-year in December; Chinese exports to the U.S., which had been holding up, are also starting to slip, they said.

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Sounds almost hopeful…

China Fast Tracks New Foreign Investment Law As US Talks Loom (R.)

China’s parliament will vote in March on a new foreign investment law that will ban forced technology transfer and illegal government “interference” in foreign business practices, the official Xinhua News agency reported in Wednesday. The time-table suggests the law will probably be formally approved then by the largely rubber-stamp legislature, accelerating a process that usually would take a year or more as Beijing rushes to meet Washington’s demands in order to de-escalate their trade war. The full annual session of parliament, which opens on March 5, only tends to pass select landmark legislation, with other laws being passed by its standing committee.

Parliament is unlikely to reject the law as its delegates are chosen for their loyalty to the ruling Communist Party and its agenda. The Trump administration has accused Beijing of intellectual property (IP) theft and forced IP transfers, demanding change and threatening further tariffs since trade tension flared between two countries last year. China has repeatedly rebutted such accusations. The two sides will hold two days of talks in Washington starting on Wednesday in the highest-level discussions since U.S. President Donald Trump and Chinese President Xi Jinping agreed a 90-day truce in their trade war in December.

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… but reality is different. The tariffs deadline is March 2.

US, China Face Deep Trade, IP Differences In High-Level Talks (R.)

The United States and China launch a critical round of trade talks on Wednesday amid deep differences over Washington’s demands for structural economic reforms from Beijing that will make it difficult to reach a deal before a March 2 U.S. tariff hike. The two sides will meet next door to the White House in the highest-level talks since U.S. President Donald Trump and Chinese President Xi Jinping agreed a 90-day truce in their trade war in December. People familiar with the talks and trade experts watching them say that, so far, there has been little indication that Chinese officials are willing to address core U.S. demands to protect American intellectual property rights and end policies that Washington says force U.S. companies to transfer technology to Chinese firms.

The U.S. complaints, along with accusations of Chinese cyber theft of U.S. trade secrets and a systematic campaign to acquire U.S. technology firms, were used by the Trump administration to justify punitive U.S. tariffs on $250 billion worth of Chinese imports. Trump has threatened to raise tariffs on $200 billion of goods to 25 percent from 10 percent on March 2 if an agreement cannot be reached. He has also threatened new tariffs on the remainder of Chinese goods shipped to the United States. “Clearly on the structural concerns, on forced technology transfer, there remains a significant gap if not a wide chasm between the two sides,” a person familiar with the talks told Reuters.

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This should be an easy choice. Instead, it’s simply not going to happen.

Scientists Demand Military Sonar Ban To End Mass Whale Strandings (Ind.)

Scientists have called for a wide-scale ban on the use of sonar to protect whale populations after a study highlighted a link between the military sound pulses and mass strandings in which dozens of the mammals have died. Marine biologists have long warned that the creatures’ senses could be damaged by sonar, with the unfamiliar noises coming from vessels confusing the animals. Experts said the mammals often attempt to swim away from the sound source, leading them to become disorientated. For deep-diving marine life such as the beaked whale, which was the focus of the study, sonar can lead the animals to ascend too rapidly, causing decompression sickness. This in turn has contributed to an increase in the number of whales dying in mass stranding events.

Researchers at the University of Las Palmas de Gran Canaria focused exclusively on beaked whales in the seas surrounding the Canary Islands. They found that a sonar ban introduced there in 2004 had been effective in reducing whale strandings and called for more sites to be established to prevent further deaths, including in the Mediterranean, where beaked whales are listed as vulnerable. “Animals may respond to stressful situations by exhibiting the ‘flight or fight response’ with increased heart and metabolic rates, often accompanied by fast movement away from the perceived stressor,” wrote the authors of the report, published in the Proceedings of the Royal Society journal. “We recommend a moratorium on mid-frequency active sonar in those regions where atypical mass stranding events continue.”

Read more …

Jan 272019
 


René Magritte L’éternité 1935

 

Mueller Hunt For Russia Collusion Turns Into Circus Show With Stone (Turley)
Disgraced Wasserman-Schultz Now ‘Fixing’ Democracy In Venezuela (RT)
Non-Yellow-Vest Protests Are Good? Macron Hails Venezuela Coup Attempt (RT)
Ireland Dismisses Suggestion It Should Quit EU And Join UK (G.)
Only Two Votes Really Matter Now On Brexit (Ind.)
Juncker Warns May: Permanent Customs Union Is Price For Revisiting Backstop (G.)
UK Firms Plan Mass Exodus If May Allows No-Deal Brexit (O.)
Airbnb Contributes To Poor Housing Markets (Ind.)
British Museum ‘Rules Out’ Returning Parthenon Marbles To Greece (Ind.)
Late-Night With The Democrats (G.)

 

 

“.. if a deer could run over itself, then Stone is the ultimate roadkill defendant.”

Mueller Hunt For Russia Collusion Turns Into Circus Show With Stone (Turley)

This is not the big game that Robert Mueller was hunting when he began his investigation of Russian interference in the 2016 presidential election. Despite the breathless news coverage, the indictment is underwhelming and far from what many predicted. As for the media, it seems to be only counting heads of Trump associates indicted, as opposed to what they were actually charged with. The media has long described Stone as the possible Trump campaign conduit to WikiLeaks and the Russians, citing his presumed communications with Julian Assange and his advance knowledge of the Democratic Party and Clinton campaign email hacks.

Yet, none of that was confirmed or even suggested in the indictment. There was no charge of collusion. No hint of meetings or arrangements with Assange. Not even a charge as an unregistered foreign agent of the Russians. Just collateral crimes with nary a mention of collusion and a defendant who alternatively presents himself as the tragically comic and the comically tragic figure mired in the special counsel investigation.

Indeed, if a deer could run over itself, then Stone is the ultimate roadkill defendant. Mueller has relentlessly pursued him for almost two years, and Stone has equally relentlessly taunted him and his team. Various grand jury witnesses recounted being questioned about Stone and theories of collusion for months. Mueller worked every evident angle before bringing down this indictment in what could be the final charging stage of his investigation. It was only last month that Mueller asked for the transcript of the testimony of Stone before Congress. Largely based on alleged false statements, the entirety of the indictment comes out of that transcript.

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The Democrats have dozens if not hundreds of people they must urgently get rid of, or they’ll never win another election. Wasserman-Schultz was thrown out for treachery vs Bernie. And now she’s back?

Disgraced Wasserman-Schultz Now ‘Fixing’ Democracy In Venezuela (RT)

Regime change and foreign interventions are things that the two US ruling parties agree on regardless of how much they exchange blows at home. Venezuela is the latest place where Republicans and Democrats have found common ground. If you watch the US media, you know what is happening in Venezuela: Dictator Nicolas Maduro is brutally suppressing the people he has been robbing for years, and now they have revolted and elected a true representative of their interest, the one true legitimate acting president Juan Guaido. And now it’s up to America to ‘fix’ democracy by whatever means necessary.

The House Foreign Affairs Committee has even offered a simple explanation on how a ‘dream team’ of Democrats have prepared a package of laws, which will ensure Venezuela’s transition into a better future. Debbie Mucarsel-Powell will be bringing humanitarian aid, Donna Shalala will stop the arming of Maduro’s thugs with batons and tear gas, while Debbie Wasserman Schultz gets arguably the hardest task of them all – taking on Russia’s President Vladimir Putin. You know, the one who – according to the current dogma of the American left establishment – already denied the Democrats the presidency in 2016 and whose puppet Donald Trump is currently trying to topple the Venezuelan government for some reason that only a 5-dimensional-chess master can understand.

Wasserman Schultz may hold a personal grudge against Putin. She had to resign as the Chair of the Democratic National Committee after leaked documents revealed how it was playing on the side of Hillary Clinton and against Bernie Sanders in 2016. The leak is widely attributed to Russia by American politicians and media. The irony of Wasserman Schultz now being on the frontline of bringing democracy to Venezuela didn’t go unnoticed by Jill Stein, the head of the Green Party. But who cares? Americans were told already that Stein is just a Putin tool stealing votes from Clinton and working for RT. Those were smears, but ‘alternative facts’ are not an invention of the Trump administration. Opposing Washington’s regime change is a dangerous cause. Say a word of doubt, and you’ll find yourself in a virtual concentration camp for Putin puppets, Assad apologists and Maduro mouthpieces.

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Coverage of the Gilets Jaunes’ Acte XI is sparse. Given the extreme level of police violence, that is a bit weird. There are tons of videos, like of people losing eyes to police rubber bullets. Macron is damning his own presidency.

Non-Yellow-Vest Protests Are Good? Macron Hails Venezuela Coup Attempt (RT)

Emmanuel Macron has praised the “courage” of Venezuelan protesters but fell short of recognizing self-declared “acting president” Juan Guaido. His desire to exert influence on Latin America could back him into a corner in Paris. “After the illegal election of Nicolas Maduro in 2018, Europe supports the restoration of democracy. I salute the courage of the hundreds of thousands of Venezuelans marching for their freedom,” Emmanuel Macron tweeted in French on his official account. The French leader went beyond the official statement from the EU, which has called for “an immediate political process leading to free and credible elections, in conformity with the constitutional order” although President Maduro’s second term officially runs to 2024.

Macron might be backing himself into a corner with his desire to exert influence on the situation in Venezuela and elevate his status on the international arena against a backdrop of a quite precarious situation at home, Chris Reynolds, an Associate Professor in Contemporary French and European Studies at the Nottingham Trent University, believes. “We can see a direct contradiction here between the domestic situation and Macron’s [statement] on this emerging situation in Venezuela,” Reynolds told RT, adding that the president’s response to the domestic Yellow Vests protests was “quite strong.” France has been gripped by massive weekly protests since November. United under the umbrella movement known as the Yellow Vests, the demonstrators, who first turned to the streets to protest fuel price hikes, are now expressing their discontent over Macron’s broader reform agenda.

Protests have often been marred by violence and were met with heavy police response as well as condemned by the president. With his sudden support for the Venezuelan street protests, Macron “opens himself up to criticism,” the professor said. “Those people, who would seek to criticize Macron will see a contradiction between his ambiguous support for the Venezuelan street protests [and his reaction to domestic protests] and therefore will have material to criticize him.” The fact that Macron stopped short of backing Guiado directly, and opted for a more vague statement instead, shows that he is well aware of this contradiction. “Macron finds himself in a situation, in which he cannot overtly express support to the Venezuelan opposition political leader, who has been brought to the fore on the back of the street protests,” Reynolds said.

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But you’re our colony!

Ireland Dismisses Suggestion It Should Quit EU And Join UK (G.)

Ireland has dismissed the suggestion that the best solution to the Brexit impasse might be for the country to quit the EU and join the UK. Questioned about the possibility by the BBC Today presenter John Humphrys, Ireland’s Europe minister, Helen McEntee, said it was not contemplating quitting the EU, that polls showed 92% of the population wanted to remain in the bloc, and “Irexit” was not plausible. She told the Radio 4 programme on Saturday that, in the event of no deal, Ireland was “not planning for the reintroduction of a border”, and urged the UK to honour its commitment to ensure the border remained invisible, as it had since the Good Friday peace deal was signed nearly 21 years ago.

Humphrys said: “There has to be an argument, doesn’t there, that says instead of Dublin telling this country that we have to stay in the single market etc within the customs union, why doesn’t Dublin, why doesn’t the Republic of Ireland, leave the EU and throw in their lot with this country?” McEntee replied: “To suggest that we should leave? Ninety-two per cent of Irish people last year said they wanted Ireland to remain part of the European Union and in fact since Brexit that figure has gotten only bigger.” The interview came hours before hundreds of people gathered on the border to protest against Brexit.

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Big one coming up on Tuesday. Could take May’s powers away. But you’re right: they have far too many votes.

Only Two Votes Really Matter Now On Brexit (Ind.)

Tuesday will be a big day in the Brexit story. We have had historic votes and critical moments before, but this is up another notch. The vote on the amendment jointly proposed by Yvette Cooper, Labour MP, and Nick Boles, Conservative MP, will be both historic and critical. It will be historic because it is the first time since the 17th century that the House of Commons has tried to take control of the nation’s affairs from the government. And it will be critical because no one knows which way the vote will go. The Cooper-Boles plan is to take no-deal Brexit “off the table” by requiring Theresa May to seek to postpone our departure from the EU if a deal has not been approved in time. The vote will be no mere expression of opinion.

If the amendment is passed, it will change the rules of the Commons to allow a bill drafted by Cooper and Boles to be rushed into law on 5 February. There is some talk of this bill being blocked by Eurosceptic peers in the House of Lords, which would have to whizz it through on the same day. Unlike the Commons, the Lords doesn’t have rules for timetabling debates, which means a small group of peers could keep talking to prevent votes. But Labour and Liberal Democrat peers insist that the huge majority opposed to a no-deal Brexit in the House of Lords would invent new rules, if needed, to get the bill through.

[..] Most attention is focused on an amendment which supports the withdrawal agreement, but only if the Ireland backstop is “replaced with alternative arrangements to avoid a hard border”. This wouldn’t be binding, and won’t pass unless the government or the official opposition support it, but its significance will be as a show of strength on the Tory back benches. Clever people think that if this amendment attracts a lot of votes it will strengthen the prime minister’s hand in going back to Brussels to ask for changes. Olly Robbins, May’s chief negotiator, is said to have drafted nine options for trying to make the backstop more palatable to Tory MPs who find it so objectionable they would rather leave without a deal.

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Trying to be funny?!

“Critics of May’s deal believe that the backstop [..] could trap the UK in an indefinite customs union.”

And then Juncker says renegotiating the backstop does just that. That logic says whatever you do, you’re stuck with the customs union.

Juncker Warns May: Permanent Customs Union Is Price For Revisiting Backstop (G.)

Jean-Claude Juncker has told Theresa May in a private phone call that shifting her red lines in favour of a permanent customs union is the price she will need to pay for the EU revising the Irish backstop. Without a major shift in the prime minister’s position, the European commission president told May that the current terms of the withdrawal agreement were non-negotiable. Details of the call, contained in a leaked diplomatic note, emerged as Juncker’s deputy, Frans Timmermans, said there had been no weakening of the resolve in Brussels in support of Ireland, and accused the Tory Brexiters of a “cavalier” approach to peace. “Let me be extremely clear: there is no way I could live in a situation where we throw Ireland under the bus,” Timmermans said.

“As far as the European commission is concerned, the backstop is an essential element for showing to Ireland and to the rest of Europe that we are in this together.” On Tuesday, the Commons will vote on a series of amendments that might variously force the prime minister to delay Brexit or go back to Brussels to demand the ditching of the Irish backstop or a time limit on its enforcement. Critics of May’s deal believe that the backstop, an “all-weather” solution for avoiding a hard border on the island of Ireland, could trap the UK in an indefinite customs union, limiting the country’s ability to pursue an independent trade policy. May’s deal was rejected this month by a historic 230 votes.

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It’s a surprise any would want to stay.

UK Firms Plan Mass Exodus If May Allows No-Deal Brexit (O.)

Thousands of British companies have already triggered emergency plans to cope with a no-deal Brexit, with many gearing up to move operations abroad if the UK crashes out of the EU, according to the British Chambers of Commerce. Before a crucial week in parliament, in which MPs will try to wrest control from Theresa May’s government in order to delay Brexit and avoid a no-deal outcome, the BCC said it believed companies that had already gone ahead with their plans represented the “tip of the iceberg” and that many of its 75,000 members were already spending vital funds to prepare for a disorderly exit. It said that in recent days alone, it had been told that 35 firms had activated plans to move operations out of the UK, or were stockpiling goods to combat the worst effects of Brexit.

Matt Griffith, director of policy at the BCC’s west of England branch, said that many more companies had acted to protect themselves since May’s Brexit deal was decisively rejected by MPs in the Commons earlier this month. He said: “Since the defeat for the prime minister’s deal, we have seen a sharp increase in companies taking actions to try and protect themselves from the worst effects of a no-deal Brexit. No deal has gone from being one of several possible scenarios to a firm date in the diary.” Labour MP Yvette Cooper has revealed to the Observer that two major employers in her West Yorkshire constituency – luxury goods manufacturer Burberry and confectioner Haribo – had both written to her, warning of the damaging effects of no deal on their UK operations.

[..] Last week some of the UK’s largest employers – including Airbus, Europe’s largest aerospace manufacturer, which employs 14,000 people in the UK and supports another 110,000 through supply chains – warned of potentially disastrous effects of no deal on its UK activities. Tom Enders, the boss of Airbus, said: “Please don’t listen to the Brexiters’ madness, which asserts that because we have huge plants here we will not move and we will always be here. They are wrong.”

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Houses are places where people live. Any other use is detrimental.

Airbnb Contributes To Poor Housing Markets (Ind.)

A recent report by a Toronto public interest group, Fairbnb, has added a local voice to the growing international chorus of concern about the impact of Airbnb on housing. It is now clear that a single American company has upended local markets, pushed rental prices skyward and could be contributing to poverty, especially in cities popular with tourists. Toronto City Council was slow to recognize the dangers posed by Airbnb, not only to unionized hotel workers but also to the million-plus tenants who need stable and affordable accommodation. Late in 2017, regulations were put in place making it difficult for deep-pocketed investors to buy multiple condos for the purpose of listing them on Airbnb.

But Airbnb hosts appealed against the legislation to Ontario’s Local Planning Appeal Tribunal. Six commercial operators added their voice. The hearings on the new bylaw are set for August 2019. In the meantime, there are no rules. Limiting Airbnb to some version of its initial ideal of “home sharing” is crucial. In 2018, 16 per cent of Toronto Airbnb hosts controlled 38 per cent of the listings, and the problem is worsening, with some downtown condos having hundreds of units listed on Airbnb, according to the Fairbnb report. The study concludes that Airbnb is responsible for countless illegal “ghost hotels”. What’s more, the report notes that if Toronto’s new rules were to come into force, more than 8,200 listings would have to be removed, and up to 6,500 whole homes would be available to boost the supply of long-term family rental housing.

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Imperial powers still rule. So stand up to them. Tell the Brits they’re not welcome until they give back what they stole. Not a single one of them. Let them fix their issues at home first.

British Museum ‘Rules Out’ Returning Parthenon Marbles To Greece (Ind.)

The director of the British Museum has appeared to rule out returning the Elgin Marbles to Greece after its government demanded Britain open negotiations over their return last year. The 2,500-year-old marble sculptures were removed from the Parthenon Temple on the Acropolis in Athens by the Ottoman ambassador Lord Elgin in the early 1800s. Lord Elgin sold the marbles to the British government, who passed them on to the British Museum in 1817 where they remain one of its most prized exhibits. Debate over where the sculptures should be located has raged for more than 200 years, with Labour leader Jeremy Corbyn pledging to return them to Greece if he becomes prime minister.

In August, Greek culture minister Lydia Koniordou invited UK officials to meetings in Greece to discuss the statues’ return in the midst of Brexit talks as Britain sought allies around Europe. In an interview with Ta Nea, Greece’s daily newspaper, British Museum director Hartwig Fischer said: “The Trustees of the British Museum feel the obligation to preserve the collection in its entirety, so that things that are part of this collection remain part of this collection.” Asked if he thinks the Greek people are right to want the Parthenon sculptures back, he told the newspaper: “I can certainly understand that the Greeks have a special and passionate relationship with this part of their cultural heritage. “Yes, I understand that there is a desire to see all of the Parthenon Sculptures in Athens.”

The other half of the Parthenon Sculptures are currently in the Acropolis Museum in Greece. For several decades, Greece has called for the reunification of the statues and has sent several formal requests, threatened legal action and proposed solutions such as mediation by Unesco. Supporters of the Greek position say although Lord Elgin said he had the permission of officials of the ruling Ottoman Empire to take the sculptures, the empire was a foreign force and had no right to let the artefacts go. When Mr Fischer was asked about Mr Corbyn’s pledge to return the Elgin Marbles to Greece if he became prime minister, he said: “I think that this is Mr Corbyn’s personal view on the question, that you take note of. “Obviously, that is not the stance and the view of the Trustees of the Museum.”

Asked by Ta Nea if he would accept that Greece is the legal owner of the Parthenon Sculptures, he replied: “No, I would not. The objects that are part of the collection of the British Museum are in the fiduciary ownership of the Trustees of the Museum.”

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I’m guessing this divides America in two along a very sharp dividing line. What I see of it (not much) is Trevor Noah being an embarrassment to Jon Stewart, and Colbert having completely lost his mojo after he shed his right-wing persona. They do what the media do: play safe, keep feeding your followers what you know they want. Anti-Trumpism.

But if there’s one thing humor needs to thrive, it’s surprise. And none of this pretend humor has any of that. It’s all just devolved into a painfully predictabe word-play game. Letterman wouldn’t have gone there, Jon Stewart wouldn’t. Humor can’t just confirm people’s fixed opinions, there’s nothing funny about that.

Late-Night With The Democrats (G.)

Diners and town halls. Iowa and New Hampshire. The Rachel Maddow Show and The Late Show with Stephen Colbert. While some campaign stops for Democrats running for president are very familiar, others reflect how the rise of liberal media hosts, late night comedians and “going viral” online could make all the difference in a tight race. Senator Kirsten Gillibrand has appeared twice in three months on Colbert’s programme on the CBS TV network, first to promote her book, then for the big reveal about 2020. Colbert asked: “Do you have anything you would like to announce?” She replied: “I’m filing an exploratory committee for president of the United States, tonight!”

Other guests on The Late Show, filmed before an audience at the Ed Sullivan Theater in New York and broadcast at 11.35pm, have included Eric Holder, Cory Booker, John Kerry, Beto O’Rourke, Amy Klobuchar, Bernie Sanders, Julián Castro (who appeared with twin brother Joaquin) and Kamala Harris, all of whom have declared their candidacy or are said to be considering it. A recent CNN article was headlined: “Welcome to the Stephen Colbert primary.” Colbert, 54, who cut his teeth in improvisational comedy, has earned it. Future historians could do worse than watch the bitingly satirical take-downs of Donald Trump in his opening monologues. His edgy political wit has catapulted him past Jimmy Fallon in the late night ratings and drawn interviewees including Hillary Clinton, Michelle Obama, Alexandria Ocasio-Cortez and Nancy Pelosi.

“Any Democratic candidate who thinks they can ignore Stephen Colbert might as well not run for president,” said Stephen Farnsworth, director of the Center for Leadership and Media Studies at the University of Mary Washington in Fredericksburg, Virginia. “Colbert once joked that the road to the White House runs through his show but it’s no joke; it is exactly so.”

[..] Maddow scooped the first interview with Warren after the Massachusetts senator announced she was formally exploring a run for the White House. She asked Gillibrand pointed questions about her shifting policy positions. Last week she questioned Harris and Ohio senator Sherrod Brown, another possible candidate. All seemingly regard Maddow’s show as a hotline to the anti-Trump resistance. Bob Shrum, a Democratic strategist who was an adviser to the Al Gore and John Kerry presidential campaigns, said: “I think she’s terrific. She’s incisive, she’s smart, she has her own views on things and, by the way, she doesn’t disguise them: they’re right out in the open.”

Robert Lichter, professor of communication at George Mason University in Fairfax, Virginia, said: “With the Democratic party moving to the left, she’s positioned to become a kingmaker. She’s a highly respected liberal and can make or break a candidacy early on by exposing someone who doesn’t know what they’re talking about. Candidates will try to aim through Colbert’s jokes and Maddow’s seriousness.”

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