Apr 082025
 
 April 8, 2025  Posted by at 10:14 am Finance Tagged with: , , , , , , , , , , ,  38 Responses »


Salvador Dali Dream Caused by the Flight of a Bee 1944

 

Don’t Be Weak, Don’t Be A PANICAN (ZH)
Trump Shows No Sign Of Backing Away From Sweeping Tariff Plans (NYP)
China Vows To ‘Fight Till The End’ Against Trump’s Tariffs (RT)
Trump Threatens China With Extra 50% Tariff (RT)
EU Offers US a ‘Zero-for-Zero’ Tariff Plan To Avoid A Trade War (JTN)
The European Union Just Caved on Trump’s Tariffs (Margolis)
The Art of (No) Deal: Can The EU Stand Up To Trump’s Tariffs? (Marsden)
Trump’s Tariff Gamble Could Plunge Planet Into New Great Depression (Sp.)
Bill Ackman: World Is On Brink Of ‘Self-induced Economic Nuclear Winter’ (NYP)
Trump Impromptu Remarks Discussing Tariffs and Trade Reset with Media (CTH)
Farewell, Fugazy! (James Howard Kunstler)
Supreme Court Slapdown of Judge Boasberg Sends Message To Federal Judges (JTN)
Conservative Legal Scholars Debate Response to Liberal Judges’ Overreach (DS)
Members of Congress Must Be Present to Represent (Young)
World Economic Forum Founder Klaus Schwab To Also Step Down As Chairman (JTN)
EU Looking To Replace Musk’s Starlink In Ukraine – Politico (RT)
Germany To Prepare Children For War – Handelsblatt (RT)

 

 

 

 

https://twitter.com/MarioNawfal/status/1908901393605197976

https://twitter.com/robertdunlap947/status/1908635019653898627

Miller

Bessent

Payne

 

 

 

 

Through all the comments there is one impression that sticks: Trump plays offense. But at least in his view he is not: he plays defense. He tries to correct past mistakes.

Don’t Be Weak, Don’t Be A PANICAN (ZH)

President Trump on Monday urged Americans not to panic over tariff-driven turmoil in the markets, and said that “Countries from all over the World are talking to us.” “The United States has a chance to do something that should have been done DECADES AGO. Don’t be Weak! Don’t be Stupid! Don’t be a PANICAN (A new party based on Weak and Stupid people!). Be Strong, Courageous, and Patient, and GREATNESS will be the result!” Trump posted Monday morning on Truth Social about 15 minutes before cash open on US exchanges.

Ten minutes later, Trump posted that “Countries from all over the World are talking to us.” “Spoke to the Japanese Prime Minister this morning. He is sending a top team to negotiate! They have treated the U.S. very poorly on Trade. They don’t take our cars, but we take MILLIONS of theirs. Likewise Agriculture, and many other “things.” It all has to change, but especially with CHINA!!!”

Trump has insisted that tariffs are necessary to rebalance global trade and rebuild domestic manufacturing – singling out China as “the biggest abuser of them all,” and has called on the Federal Reserve to lower interest rates. In a Friday conversation, Federal Reserve Chair Jerome Powell didn’t give much of an indication on how the fed would react – suggesting only that the tariffs could increase inflation, and that “there’s a lot of waiting and seeing going on, including by us.” Over the weekend, Trump suggested that the market turmoil was part of the plan – saying “Sometimes you have to take medicine to fix something.”

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Backing away now would signal weakness. Enough time for that.

Trump Shows No Sign Of Backing Away From Sweeping Tariff Plans (NYP)

A defiant President Trump showed no sign of backing away from his sweeping tariff plans early Monday — even as stock index futures tumbled. “Oil prices are down, interest rates are down (the slow moving Fed should cut rates!), food prices are down, there is NO INFLATION, and the long time abused USA is bringing in Billions of Dollars a week from the abusing countries on Tariffs that are already in place,” he wrote on Truth Social just before 7 a.m. The commander in chief also ripped China after Beijing struck back against Trump’s far-reaching “Liberation Day” with its own 34% levy last week. “This is despite the fact that the biggest abuser of them all, China, whose markets are crashing, just raised its Tariffs by 34%, on top of its long term ridiculously high Tariffs (Plus!), not acknowledging my warning for abusing countries not to retaliate,” Trump said.

“They’ve made enough, for decades, taking advantage of the Good OL’ USA! Our past “leaders” are to blame for allowing this, and so much else, to happen to our Country. MAKE AMERICA GREAT AGAIN!” It came as S&P 500 and Dow futures plunged more than 20% from their peak on Monday. In the two sessions after Trump’s tariff decision, the S&P 500 has tumbled 10.5%, erasing nearly $5 trillion in market value, marking its most significant two-day loss since March 2020. Meanwhile, Trump told reporters late on Sunday that investors must endure the consequences and that he would refrain from negotiating with China until the US trade deficit is addressed.

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Chinese industry without American consumers is not a pretty picture.

China Vows To ‘Fight Till The End’ Against Trump’s Tariffs (RT)

China’s Commerce Ministry has warned Washington against entering a never-ending spiral of tit-for-tat trade restrictions, after US President Donald Trump threatened to impose additional tariffs on Chinese imports. Last week, the US president announced sweeping new tariffs on imports from around the world, including a 34% duty on Chinese goods. In response, Beijing vowed to retaliate with a proportional 34% tariff increase on American exports – prompting Trump to threaten further escalation. Beijing condemned the growing trade war as a form of “economic bullying,” with the Commerce Ministry promising on Tuesday to take firm countermeasures to protect China’s national interests.

“China will fight till the end if the US side is bent on going down the wrong path,” a ministry spokesperson said, as quoted by Xinhua. Trump has defended what he calls “reciprocal tariffs” – which range from 10% to 49% on imports from all countries – as a necessary step to eliminate the US trade deficit. He argues the tariffs will make foreign goods less attractive for American consumers, while pressuring international partners to open their markets to US exports. In a post on Truth Social Monday, Trump warned that not only China, but any country that dares to retaliate “will be immediately met with new and substantially higher tariffs.”

The intensifying global trade war has already rattled financial markets. According to Bloomberg, more than $10 trillion has been wiped off global equities as of Monday. Bitcoin dropped below $75,000 for the first time in five months, while most of the top 100 altcoins fell by 15% or more. Meanwhile, JPMorgan raised the odds of a US and global recession to 60% by year-end, up from a previous estimate of 40%. Trump defended his actions, stating that “sometimes you have to take medicine to fix something,” and promised that jobs and investment would return to the United States, making it “wealthy like never before.”

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Come to the table! We need to talk.

Trump Threatens China With Extra 50% Tariff (RT)

President Donald Trump has threatened to slap an additional 50% tariff on all Chinese imports, unless Beijing recalls its proposed retaliatory 34% levy hike in another escalation of the trade war that has wiped trillions of dollars from stock markets. Last week, the US president rolled out sweeping tariffs ranging from 10% to 49% on imports from all countries. These included a further 34% duty on imports from China, on top of the existing 20% enacted in the months prior. Beijing has announced it will retaliate with a 34% levy hike on US goods by Thursday. “If China does not withdraw its 34% increase above their already long term trading abuses by tomorrow, April 8, 2025, the United States will impose ADDITIONAL Tariffs on China of 50%, effective April 9,” Trump wrote on Truth Social on Monday.

The US president also threatened to cancel all scheduled talks with China, and instead begin “negotiations with other countries.” Beijing has condemned the tariffs as a “typical move of unilateralism, protectionism and economic bullying.” “It will hurt the US itself as well as others,” Chinese Foreign Ministry spokesperson Lin Jian said at a press conference on Monday. Washington’s levies will hit developing countries especially hard, and will also disrupt global trade and logistics, he added. China has lodged a complaint with the World Trade Organization in response to the US tariffs.

Additionally, the Chinese Commerce Ministry has imposed new restrictions aimed at American firms, as well as restrictions on the export of domestic rare-earth minerals. Currently, the US obtains some 70% of the rare-earths it imports from China.The escalating trade war between the two superpowers has led to market turbulence and wiped out more than $10 trillion from global equity markets as of Monday, according to Bloomberg.

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“..for industrial goods..”

EU Offers US a ‘Zero-for-Zero’ Tariff Plan To Avoid A Trade War (JTN)

The European Union on Monday proposed a ‘zero-for-zero’ tariff plan to the U.S. The offer was made by European Commission President Ursula von der Leyen, following President Donald Trump last week placing a 20% tariff on the EU. “We have offered zero-for-zero tariffs for industrial goods as we have successfully done with many other trading partners,” Leyen said during a joint press conference with Norwegian Prime Minister Jonas Gahr Store. She said that Europe has always been ready for a good deal regarding tariffs, according to the news outlet Politico.

Meanwhile, the EU’s 27 trade ministers met in Luxembourg to discuss the U.S. measures and to come up with an alternative plan. The plan by the commission, which coordinates EU trade policy, is in specific response to Trump’s earlier steel and aluminum tariffs rather than the broader, more-recently announced reciprocal levies, according to Reuters. But the consensus among the countries appears challenging, considering the leaders each have their own domestic considerations. Among the EU leaders who appear most eager to retaliate are French President Emmanuel Macron, who is calling Trump’s tariffs “brutal and unfounded.”

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Will Trump split up Europe? Separate deal for Italy first?

The European Union Just Caved on Trump’s Tariffs (Margolis)

While the left and their media allies urge panic over Trump’s tariffs and the market response, reality is telling a different story — countries are folding fast. Now even the European Union is signaling it’s ready to deal. On Monday, European Commission President Ursula von der Leyen announced that the EU is open to negotiations with the United States and has proposed eliminating tariffs on industrial goods altogether. At a press conference in Brussels, von der Leyen underscored the damaging effects of the current tariffs and made it clear the EU is prepared to negotiate. These tariffs come first and foremost at immense costs for U.S. consumers and businesses, but at the same time, they have a massive impact on the global economy,” she announced. “Especially hard-hit are the developing countries. And this is a major turning point for the United States.”

She continued, “Nonetheless, we stand ready to negotiate with the United States. Indeed, we have offered zero-for-zero tariffs for industrial goods, as we have successfully done with many other trading partners. Because Europe is always ready for a good deal, so we keep it on the table.” This is huge news, and it’s becoming increasingly clear that Trump’s trade strategy is paying off. For years, he’s warned that so-called “free trade” has left the United States at a disadvantage, and now—unlike past presidents—he’s actually doing something about it. And it’s not just the European Union signaling a willingness to negotiate. Just days after President Trump launched sweeping reciprocal tariffs — an effort the administration has dubbed “Liberation Day” — over 50 countries have already stepped forward to open talks and avoid the new penalties.

“We already have 50 — five-zero — countries that have come to the table over the last few days, over the last weeks, that are willing and desperate to talk to us,” Agriculture Secretary Brooke Rollins told CNN’s Jake Tapper on Sunday. “We are the economic engine of the world, and it’s finally time that someone, President Trump, stood up for America.” As expected, critics on the left are sounding the alarm, but Rollins dismissed the outrage as typical partisan theatrics. She made it clear that the real goal is to restore the American economy by prioritizing U.S. goods and industry.

Rollins defended the tariffs as a necessary course correction after decades of failed trade policy that has hurt American farmers and workers. She pointed to countries like Mexico and Australia, which have blocked key U.S. exports, and argued that these foreign tariffs have gone unchecked for far too long. When pressed about the long-term future of the tariffs, Rollins emphasized they’re part of a broader national security strategy to bring jobs back home and rebuild the country’s industrial base — a vision that goes all the way back to America’s founding. “This is about putting America first,” she said, stressing that the strategy goes beyond tariffs to include deregulation, tax cuts, and energy independence as core pillars of the president’s plan.

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“The EU’s economic biceps – especially Germany’s – look more like a middle-aged accountant’s than those of a powerlifter.”

The Art of (No) Deal: Can The EU Stand Up To Trump’s Tariffs? (Marsden)

The EU is putting on its bravest face, with European Commission President – and the bloc’s de facto unelected monarch in all but crown – Ursula von der Leyen declaring the bloc is fully equipped to weather US President Donald Trump’s latest tariff tantrum – a fresh 20% slap on EU imports. Markets were clearly moved by this rousing display of confidence – so much so that the Euro Stoxx 50, the Eurozone’s top blue-chip index, is currently tracing a pattern that closely resembles that of a skydiver who forgot to pack a parachute. “Europe holds a lot of cards. From trade to technology, to the size of our market. But this strength is also built on our readiness to take firm countermeasures,” von der Leyen said. Ah yes, the EU’s strength is so formidable that Brussels had to advise citizens to share showers to conserve energy after decisively cutting off Russian fuel – only to later import it discreetly, like a teenager sneaking in past curfew.

Can the average EU citizen expect more of the same kind of ‘firm countermeasures’ their leaders are famous for? Like the one that mandated twist-off bottle caps to be tethered to the bottle so you get hit in the face with every sip in order to spare the earth from being crushed under the weight of rogue caps that managed to escape their fate en route to the recycling depot. Or the kind of countermeasures that attempt to stick it to Russia by trying to regulate the temperature that Europeans should tolerate to reduce energy use. Because nothing says ‘take that, Putin!’ like sweltering during a summer heatwave inside a 27C office. “Unity is our strength,” Queen Ursula reiterated, throwing down her favorite mantra. Because, apparently, unity is the magical solution to all challenges. And also a euphemism for unquestioningly following the whims of whatever lunacy her reality-detached battalion of bureaucrats concocts.

The resounding success of this approach must be why there totally isn’t stalled GDP growth, an industrial sector limping along, and a sputtering economy even before these tariffs came into play. Tag-teaming Trump alongside Ursula was German Economy Minister Robert Habeck, who seems to think the EU is locked in an intense geopolitical arm-wrestling match with the US president, saying that “pressure now needs to be unfolded” against Trump “from Germany, from Europe in alliance with other countries, and then we will see who is the stronger one in this arm wrestle.” He may as well have just whipped it out and slammed it down on the table while he was at it. His arm, I mean. The hitch? The EU’s economic biceps – especially Germany’s – look more like a middle-aged accountant’s than those of a powerlifter. But sure, flex away. Seems the EU has found itself a new external foe to blame for its economic struggles: America.

They’ve been wringing their hands about Russian influence, worried about China’s rise, and now, surprise! Their latest villain is their self-proclaimed best friend. So what’s their big flex going to be? Well, French President Emmanuel Macron is leading the charge for French and European companies to stop investing in the US. “It is important that future investments, the investments announced over the last few weeks, should be put on hold for some time until we have clarified things with the United States of America,” Macron said. “What message would we send by having major European players investing billions of euros in the American economy at a time when [the US] are hitting us?” What message indeed? That Europe stands for a totally unfettered market economy, free from government interference, meddling, and control? Yeah, that must be it.

The EU’s major economies were already struggling long before Trump’s tariffs came along, as a result of the bloc’s own actions, egged on not by Trump but by the Biden administration, who they considered their best pals. Germany’s industrial sector is contracting. France is seeing massive layoffs. Germany’s DHL Group, the logistics company, is cutting 8,000 jobs alone. But yeah, let’s definitely have European businesses take advice from the same people who led them into this mess, on how to get out of it. It’s like getting fire safety tips from an arsonist right after he tosses a match at your living room curtains. The EU sanctioned itself into this mess with its anti-Russian policies, all while getting a friendly thumbs-up from Washington. And now, Washington under Trump is just dropping the charade and openly prioritizing American interests – except this time, in a way that pulls the rug out from under globalism. So Brussels is left standing in the cold, wondering why Uncle Sam isn’t holding its hand anymore.

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“We are watching the geopolitical and economic world as we knew it being re-routed in very short order – in days and not decades..”

Trump’s Tariff Gamble Could Plunge Planet Into New Great Depression (Sp.)

Global markets are in turmoil in the wake of President Trump’s announcement of steep new tariffs against most of the world. Combined with massive debt and rising geopolitical tensions, the tariff wars have left more than a few observers drawing worrying historical parallels. “We are at the top of a huge, great debt and credit bubble. And that’s very, very similar to the situation in the late 1920s,” independent economist Alasdair Macleod told Sputnik. “In 1930, the Smoot-Hawley Tariff Act was signed into law by President Hoover. It was the combination of the credit bubble bursting, plus the effect of the tariffs, which imposed a minimum tariff of 20% on all US imports that led to the collapse of the stock market and the Depression,” Macleod warned.

In some ways, the situation now is “even worse,” according to the observer, “because the bubble is far bigger than we saw in 1929. And not only that, but Trump’s tariffs are far worse than Smoot-Hawley because it’s on top of earlier tariffs.” “Every rally, however sharp (and bear market rallies tend to be very aggressive) gets met with another wave of selling, telling us that the leverage community and indeed others, the more long-term players, are still looking to exit positions,” ADM Investor Services chief economist Marc Ostwald said, commenting on the roller coaster in the markets in the wake of the tariff announcement. The situation is characterized by hopes that one of three power players: big banks, the Fed or the administration will intervene to return stability, Ostwald says, with an infusion of mobilized bank capital, an emergency rate cut by the Fed, or a decision to relent by Trump needed to arrest the volatility.

The problem, Ostwald says, is there are no signs by Trump of readiness to back down, while the Fed is “not sure where the greatest threat lies…inflation or that businesses basically shut up shops, stop hiring people, start laying people off, stop making orders or something else?” “We can expect turmoil to continue even while the markets get used to that turmoil and it becomes the new normal,” veteran financial analyst Paul Goncharoff says, commenting on the Trump tariff salvo. “We will still have inflation, recession will visit us all, hard assets will replace soft money, dedollarization may in fact quicken, and the heightened military tension we see around us will not fully disappear until some understanding between the China and America contingents are reached,” the Goncharoff LCC director says. “There are two players at the high table – China and the United States. The surrounding noisy gaggle of countries are important yet in fact secondary players. We are watching the geopolitical and economic world as we knew it being re-routed in very short order – in days and not decades,” Goncharoff explained.

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Ackman gets cold feet.

Bill Ackman: World Is On Brink Of ‘Self-induced Economic Nuclear Winter’ (NYP)

Billionaire fund manager Bill Ackman, a staunch President Trump ally, has warned the world is on the brink of a “self-induced economic nuclear winter” – as he begged the commander in chief to pause his sweeping tariffs. “The President has an opportunity on Monday to call a time out and have the time to execute on fixing an unfair tariff system. Alternatively, we are heading for a self-induced, economic nuclear winter, and we should start hunkering down,” Ackman wrote in a lengthy X post Sunday night. “May cooler heads prevail.” Ackman, who endorsed Trump’s run for President, issued the stark warning as he insisted the US leader’s decision to enforce the 10% tax on imports was quickly losing the confidence of business leaders worldwide.

“The country is 100% behind the president on fixing a global system of tariffs that has disadvantaged the country. But, business is a confidence game and confidence depends on trust,” he wrote. “President [Trump] has elevated the tariff issue to the most important geopolitical issue in the world, and he has gotten everyone’s attention. So far, so good. “And yes, other nations have taken advantage of the U.S. by protecting their home industries at the expense of millions of our jobs and economic growth in our country,” he continued. “But, by placing massive and disproportionate tariffs on our friends and our enemies alike and thereby launching a global economic war against the whole world at once, we are in the process of destroying confidence in our country as a trading partner, as a place to do business, and as a market to invest capital. “

Calling for a 90-day time-out, Ackman urged Trump to renegotiate the “unfair asymmetric tariff deals.” He warned, too, that launching an “economic nuclear war” would only see businesses grind to a halt, as well as consumers closing up their wallets. “What CEO and what board of directors will be comfortable making large, long-term, economic commitments in our country in the middle of an economic nuclear war?” he said. “When markets crash, new investment stops, consumers stop spending money, and businesses have no choice but to curtail investment and fire workers. And it is not just the big companies that will suffer. Small and medium size businesses and entrepreneurs will experience much greater pain. Almost no business can pass through an overnight massive increase in costs to their customers.”

“The consequences for our country and the millions of our citizens who have supported the president — in particular low-income consumers who are already under a huge amount of economic stress — are going to be severely negative. This is not what we voted for,” he added. Trump has previously touted the tariffs as a negotiation ploy to improve US trade and bring in more revenue. But he has also dropped hints that the steep levies may be permanent — sparking fears of an all-out trade war. Ackman’s grim outlook came as Trump’s sweeping tariff plans continued to hammer global financial markets on Monday after he warned foreign governments they would have to pay “a lot of money” to lift the levies that he called “medicine.”

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sundance: “The remarks were ‘Full force Big Ugly‘ and the winnamins were flying off the shelves for 15 straight minutes. I could not be more proud of our president.”

Trump Impromptu Remarks Discussing Tariffs and Trade Reset with Media (CTH)

President Trump smartly remained quiet after delivering the economic thunder-shock with his national security tariffs and new global trade expectations. Now President Trump takes questions from the media about the initial reactions to the seismic event he created. “China needs to solve the problem of the trade deficit we have with them,” is codespeak for China needs to open their markets to U.S. companies that have already established a footprint, AND China needs to purchase U.S. goods. Despite the size of China, President Trump knows Beijing will never comply in earnest, so he gives the Panda a few words, but doesn’t give it too much time until the Dragon comes out from behind the mask. President Trump notes he has “spoken to a lot of leaders from Europe and Asia” this weekend.

However, now is that powerful moment in any negotiation when the principal has clearly outlined his position, then remain silent as the opposition responds. The “tariffs are instituted, they are not going away,” Trump said. When questioned about having a “threshold” of “pain he is willing to tolerate,” President Trump notes the “question is stupid.” We are responding to opposition who are playing a zero-sum game, there is no level of pain too intolerable when ultimately your survival as a nation is at stake. Either we do, and win – or, we do not and die, that is our current status. When questioned about having a zero-tariff agreement with Europe, President Trump references the scale of the imbalance. “There’s no talk possible” with the EU unless they acquiesce. Every country wants to make a deal, but “this is not sustainable” President Trump repeats.

When questioned about Tik Tok, President Trump notes there was a likely deal with China, but then Beijing responded to the tariffs and said the deal around the social media platform ownership was no longer possible. Trump doesn’t care, he wants a TikTok deal; but ultimately, the tariffs are more important. President Trump then weaves through the Russia conflict, bombs are still bad, and the Middle east conflict, Gaza is still full of terrorists, and moves directly into domestic national security. President Trump then reaffirms he has not agreed to reduce, soften or smooth any tariffs against any nation. The tariffs are in place, they will remain in place, and the global trade reset will continue until America wins. Period. The remarks were ‘Full force Big Ugly‘ and the winnamins were flying off the shelves for 15 straight minutes. I could not be more proud of our president.

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“Ah, the delicious smell of peak fear on Sunday/Monday…and max NOISE on X.” —Raoul Pal

Farewell, Fugazy! (James Howard Kunstler)

That ruckus you hear in the capital markets is the sickening howl of the Fugazy Economy meeting its extinction. Fugazy means fake, unreal, dishonest, misaligned to what societies need to thrive. Fugazy means mis-using the time-value of things that purport to be wealth to multiply fake wealth in the hands of a few at the expense of the many. The pernicious effects of that system are visible all across the ruined landscape of our country, a nation of broken cities, failed towns, and a demoralized populace. Mr. Trump apparently aims to convert the expiring Fugazy economy into a production economy — yikes! — based on making things of value, and perhaps more importantly, of people at all social levels having meaningful roles in the making and moving of things.

The Trump tariffs are the first big step in a process that is already generating a whole lot of friction, heat, and ferment. The aim of the tariffs is straightforward: the end of a trade regime that punishes and cripples American production. The response so far is heartening. Many other countries suddenly seek new trade arrangements with the USA, correctly sensing that Mr. Trump means bidness. (This ain’t no Mud Club. . . this ain’t no foolin’ around. . . .) It’s even possible that these readjustments will happen so swiftly that the tariff differentials will be a wash before summer, and everybody will be, at least, on a firm footing, knowing what the clear new rules say. This new disposition of things required forceful incentives to change entrenched, harmful practices.

Another angle on this process is the dynamic known as import-replacement. It means exactly what it sounds like: where you used to get stuff from other lands, you now make it here. It should be obvious that this can’t be accomplished overnight. But the question is: okay, when are you going to start? Part of the answer is: we can’t afford to put it off any longer. There’s an awful lot of stuff, from machine tools to pharmaceuticals to military equipment that we had better start making again — or else slide into collapse, perhaps even slavery to other powers. That process starts with deploying real capital — as opposed to Fugazy capital — to re-start businesses and industries. That will take money away from hedge funds and other rackets that exist to play games with evermore abstract layers of things that only pretend to represent money. As that occurs, a lot of pretend money will vanish. Don’t be too shocked by this. That’s what happens when a society bends back toward reality: you start sorting out the real money from the fake money. That’s why the price of gold keeps marching up.

I sense that Mr. Trump and his colleagues knew full-well that the tariff play would rattle the markets badly, that these “corrections” are an unavoidable consequence, and are better gotten-over as quickly as possible. What else would you expect in a system that has dedicated itself for decades to mis-pricing the value of just about everything? The snap-back is sure to be harsh. The psychopathocracy that drives the Global Left lost more traction last week in its quest to keep all of its old rackets running. Their foot-soldiers in the USA have been defunded effectively by Mr. Musk’s DOGE, starting with the immense network of rackets that were run around the USAID program. The Woke NGOs are no more and the fat paychecks are no longer going out to the nose-ring-for-lunch-bunch who came to infest the DC Beltway — and their satellite offices in Democratic Party controlled cities.

Hence, the feeble turn-outs in last weekend’s street actions. The Baby Boomers have gone especially psychotic. That’s why there are so many old folks waving those Soros-made placards in the astroturfed crowds of the “Hands-off” protests. After an eighty-year run of the most mind-blowing comfort and convenience enjoyed by any generation in world history, America’s Boomers stare into the abyss of their fading Fugazy fortunes as their stock portfolios tank. Kind of too bad. Maybe you shouldn’t have gone along for the ride. Maybe you should have cared for your country a bit more.

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They called him back but still want to stick to the “procedure”, separate cases for each individual. There is no space or time for that in the system.

Supreme Court Slapdown of Judge Boasberg Sends Message To Federal Judges (JTN)

The Supreme Court decision reversing U.S. District Judge James Boasberg’s block on President Donald Trump’s deportation of gang members under the Alien Enemies Act sent a stern message to federal judges nationwide that overreach and venue shopping won’t be tolerated. The Trump administration has witnessed a record number of temporary restraining orders (TROs) against its policies, with lower-level federal judges imposing sweeping blocks on executive actions, notably those involving immigration. The Department of Justice has repeatedly urged the Supreme Court to narrow the scope of federal injunctions or to clarify the extent of lower court judges’ authority to interfere in executive branch operations. In a 5-4 decision, the justices opted Monday both to overturn the Boasberg order halting Trump’s enforcement of the AEA, but also declared the D.C. District of Columbia an inappropriate venue for the case in light of the gang member’s detention in Texas.

They did, however, assert that the Venezuelans in custody had the right to challenge their deportations. “Regardless of whether the detainees formally request release from confinement, because their claims for relief ‘necessarily imply the invalidity’ of their confinement and removal under the AEA, their claims fall within the ‘core’ of the writ of habeas corpus and thus must be brought in habeas,” the judges wrote. “The detainees are confined in Texas, so venue is improper in the District of Columbia. As a result, the Government is likely to succeed on the merits of this action.” “For all the rhetoric of the dissents, today’s order and per curiam confirm that the detainees subject to removal orders under the AEA are entitled to notice and an opportunity to challenge their removal,” they added. “The only question is which court will resolve that challenge. For the reasons set forth, we hold that venue lies in the district of confinement.”

Texas courts are part of the Fifth Circuit Court of Appeals, one of the most conservative courts in the nation. The change of venue represents a partial win for Trump as the courts are far more likely to be receptive to government arguments on immigration authority. The need for due process, however, will slow the deportation process to a degree. Trump had hoped to use the AEA to speedily remove members of the Venezuelan gang Tren de Aragua, which gained notoriety in 2024 for its takeover of several apartment complexes in Colorado. Trump did notch a bonus win, however, after Chief Justice John Roberts blocked a deadline Boasberg imposed to repatriate an illegal alien from Venezuela whom the administration sent to El Salvador. Trump allies acknowledged that the decision represented a victory, but stopped short of celebrating in light of its limited scope.

Sen. Ron Johnson, R-Wis., told Just the News that “this ruling provides only a temporary reprieve in one case among many where partisan Federal District Court judges are throwing up roadblocks to frustrate President Trump’s efforts to honor his campaign promise to secure the border and deport illegal immigrants. “It’s welcome, but the Supreme Court needs to do far more to rein in district judges who are exceeding their constitutional authority,” he added. Harvard Law School Professor Emeritus Alan Dershowitz, moreover, opined that “[i]t looks like SCOTUS will rule that Trump has broad substantive power to deport but he must exercise that power within due process constraints.” The decisions on Monday represent one of the first actions from the nation’s nine justices to chastise lower courts over forum shopping and the excessive issuance of TROs.

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“..an “unacceptable” instance of judicial overreach that damages “the president’s ability to conduct foreign affairs.” “It’s a red line, and that’s the reason I have called for the impeachment of Judge Boasberg. I have called for the Trump administration to ignore his order. I’ve never done this before..”

Conservative Legal Scholars Debate Response to Liberal Judges’ Overreach (DS)

Prominent conservative legal scholars on Monday debated the proper legal response to liberal federal judges’ injunctions against actions by the Trump administration. From legislation that would alter the judiciary’s powers to introducing articles of impeachment, the commentators offered varying solutions to the current controversy over the separation of powers in a panel discussion at The Heritage Foundation. Central to the discussion was Washington, D.C.-based U.S. District Court Judge James Boasberg’s injunction against deportation flights leaving the United States, which the panelists unanimously criticized. George Washington University law professor Jonathan Turley was in the camp of urging Congress and the White House to refrain from combating the judiciary too fiercely. “Where I’ve been critical of the administration is often on the rhetoric, and I think it has committed some unforced errors,” said Turley. “They’ve got to really pick the hills to fight on.”

The judicial scholars at a panel discussion Monday were unanimously critical of federal Judge James Boasberg’s injunctions against the Trump administration. Turley added that he does not support impeaching judges, and that he thinks the legal system will sort out judicial overreach. A number of members of the House of Representatives have already introduced articles of impeachment against judges who have issued injunctions against Trump administration actions. “I also don’t agree with limiting jurisdiction or limiting funds. I believe we have the world’s greatest judicial system, and it’s working. Injunctions have been lifted. The Supreme Court just recently again ruled in favor of the Trump administration,” Turley said.

Additionally, the GWU law professor warned against what he sees as a dangerous precedent of ignoring court rulings, which would likely continue in future administrations. However, Mike Davis, the president of the conservative advocacy group Article III Project, disagreed with Turley. Davis argued that the scope of injunctions was so beyond the norm that impeachments were necessary. Davis spoke at length of Boasberg’s order for American deportation flights to be returned to the United States. He described that as an “unacceptable” instance of judicial overreach that damages “the president’s ability to conduct foreign affairs.” “It’s a red line, and that’s the reason I have called for the impeachment of Judge Boasberg. I have called for the Trump administration to ignore his order. I’ve never done this before” he said. “This is a very serious matter for the judiciary’s legitimacy.”

One point of agreement uniting all of the panelists, however, was that the judges were in the wrong for their far-reaching rulings. Turley indicated he was open to supporting legislation that would require more than one judge to sign off on national injunctions against a president’s executive orders. “I would like to see, at a minimum, any class action have to go through a separate three-judge panel with very narrow conditions, under which a national injunction can be held. I would also like to see Congress collapse the time for appeal,” Turley said. Sen. Mike Lee, R-Utah, and Rep. Darrell Issa, R-Calif., have introduced legislation that would require that nationwide injunctions be approved by a three-judge panel.

Hans von Spakovsky, a senior legal fellow in The Heritage Foundation’s Meese Center for Legal and Judicial Studies, agreed with the case for allowing Congress to limit judges’ authority and requiring multiple rulings for there to be a nationwide injunction. He alluded to laws passed by Congress during the Civil Rights Movement to enforce equal voting laws, arguing that these establish a precedent for the proposed legislation. “When the Voting Rights Act was passed in 1965 … they didn’t trust some of the federal judges in the Southern courts who had been put forward by the Democratic Party, that they would rule the right way on certain voting cases, and so they set up a system of a three-judge panel … and so, we’ve done this before. It’s something that could be done again.”

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Time to tighten the rules.

Members of Congress Must Be Present to Represent (Young)

President Donald Trump’s win in November was so sweeping of a mandate that Republicans won control of both the House and Senate. Control of Congress is critical to moving Trump’s vast America First agenda forward—and because of the slim majority held by Republicans in the House of Representatives, one would hope they’re working together in lockstep on behalf of the American people. Over the past week, however, Speaker Mike Johnson, R-La., was forced to delay critical votes in the House over a proposal to let members vote from home. Rep. Anna Paulina Luna, R-Fla., led a small group of Republicans and all Democrats, to change House rules to allow proxy voting for members of Congress who are new or expecting mothers. Fortunately, it appears this saga is now over. Johnson and Luna reportedly struck a deal Sunday that won’t trigger her discharge petition. But let this be a lesson for members of Congress, who shouldn’t be tempted to pursue proxy voting anytime soon.

Quite frankly, proxy voting should never be on the table for members of Congress. Their entire job is to show up to work and vote for the people they represent—which they only do on average of around 160 days a year. The first issue anyone should have with this issue is the slippery slope it presents. Once the bell is rung on proxy voting for motherhood, it is clear as day where the expansion of permission to vote from home leads. Pregnancy is a medical issue, and the next step for proxy voting will be any “serious medical issue.” Then it will be any medical issue with a doctor’s note (that will stretch to include emotional issues like depression or anxiety). Eventually, it will accommodate senior citizen status. If by that point there are members still showing up to work, the next landing on the slippery slope will be major issues in a member’s district; then it will be any issues in their district—and at that point, everyone will be able to vote via text message.

The second issue, which should offend all Americans, is that just a few short weeks after Trump required all federal workers to return to office, members of Congress are advocating for themselves to work from home. If Republicans justifiably want workers who are paid by taxpayers to return to their offices, they should be expected do the same. The third issue is that thousands of mothers—in congressional districts across this country—don’t get to work by proxy. Some mothers labor at multiple jobs to raise a family and others don’t get paid time off or maternity leave. Those afforded the privilege of being a member of Congress already receive a generous $174,000 salary and on-site child care center, and most have a spouse able to take care of their children while in Washington. Transportation Secretary Sean Duffy’s daughter, Evita Duffy-Alfonso, contrasted congressional proxy voting with her father’s actions while serving as a representative from Wisconsin:

When my baby sister was born with two holes in her heart and needed a very risky surgery, my father, @SecDuffy knew he needed be at home with his newborn daughter, my mother, and my eight siblings. So my dad resigned. What he did not do was demand an unconstitutional exception that would allow him to vote remotely. He viewed his job in Congress as a responsibility and a privilege, not an entitlement. If you are unable to fulfill the duties required of a member of Congress because you are a parent of a small child, feel free to resign. Many have before. My final issue with this proxy voting proposal is that members of Congress need to think about their country before themselves. At the time of the 2024 election, America was at the brink of self-destruction with the Biden administration’s wide-open southern border, illegal aliens potentially voting in our elections, failed energy and economic policies, DEI ruining equality for all—and that’s just the tip of the iceberg.

Imagine for a second you were elected and given the privilege to help lead the golden age of America with Trump—one of a few hundred entrusted to save this country. The American people expect you to be present, not vote by proxy. Those who support letting new parents vote by proxy are getting caught up in the emotional aspect of it—but that’s not what this is ultimately about. The Democrats who took full advantage of former Speaker Nancy Pelosi’s allowing proxy voting during the COVID pandemic would lick their chops at making it permanent. Republicans shouldn’t be tempted to go along with the idea—now or later. Johnson was right to hold the line, and it’s a good thing that the House will now be able to once again move forward to enact Trump’s America First agenda.

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Does WEF have a future?

World Economic Forum Founder Klaus Schwab To Also Step Down As Chairman (JTN)

World Economic Forum founder Klaus Schwab told his staff and the company’s board of trustees this week that he will step down as the organization’s chairman after creating and leading it for five decades. His departure comes after the board investigated allegations of racism and gender-bias against women in the Forum’s workplace, which was first reported last year by the Wall Street Journal. Schwab and the Forum have denied the allegations. Schwab, who announced his plans to step down as executive chairman in May of last year, but remained on as non-executive chairman of the board, did not give a reason for his departure, but a spokesperson for the WEF told the Wall Street Journal that the organization is already beginning its search for a new chairperson and expects the full process will be completed by January 2027.

Schwab, author of The Great Reset, is viewed by many conservatives as the ultimate globalist, which made President Donald Trump’s speech at the WEF’s annual gathering in Davos, Switzerland, just days after he was inaugurated to his second term as president this past January, must see TV. The chairman’s departure is not the first change that the WEF has made to its leadership recently. The Wall Street Journal reported that the organization is also losing its chief legal officer Nicola Port, and technology and digital services head Malte Godbersen. The exit comes shortly after World Economic Forum CEO Børge Brende said that he is committed to addressing the leadership issues identified by the workplace investigation, which did not substantiate the allegations against its founder. “Over these past months, we have taken time—time to pause, to listen, and to reflect,” Brende said in the memo announcing the executive changes. “This period of reflection has been grounded in a desire not just to do things differently, but to do them better.”

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They will fail.

EU Looking To Replace Musk’s Starlink In Ukraine – Politico (RT)

Kiev’s European backers want to replace Elon Musk’s Starlink in Ukraine but no local provider can take its place, Politico reported on Monday, citing French-British satellite operator Eutelsat. Brussels is concerned that the tech tycoon could shut down the service and disrupt Ukrainian military communications, according to the outlet. Musk, a major ally of US President Donald Trump and CEO of SpaceX, which operates Starlink, has donated more than 40,000 satellite internet terminals to Kiev since 2022. Ukrainian troops have come to depend heavily on the system in combat operations. SpaceX has also provided access to Starshield, a more secure, military-grade version of the network. While Vladimir Zelensky’s government initially viewed Musk as a key supporter, the relationship soured as the tech tycoon grew more critical of Kiev’s war effort.

Tensions deepened after Musk denied Ukraine’s request to activate Starlink over Crimea, Russia, reportedly thwarting a drone attack against Russian ships. Last month, Musk wrote on X that “the Starlink system is the backbone of the Ukrainian army,” warning that “their entire front line would collapse if I turned it off.” Politico reported that EU officials now view Musk’s growing criticism of Ukraine as a threat to Starlink’s reliability. Brussels is reportedly in talks with several companies to find alternatives, including French-British satellite operator Eutelsat. CEO Eva Berneke confirmed to the news outlet discussions over EU funding for shipping user kits to Ukraine and expanding satellite launches to boost capacity. “[Working with Starlink] is a dependence that can be decided in the White House or Mar-a-Lago. It’s good to have multiple options,” Berneke told the outlet.

She acknowledged, however, that no provider is close to matching Starlink’s scale. It operates around 7,000 satellites, compared to Eutelsat’s 600. Depending on the scenario, Starlink offers 23 to 490 times more capacity over Ukraine. “If we were to take over the entire connectivity capacity for Ukraine and all the citizens, we wouldn’t be able to do that,” she said. European Commission spokesperson Thomas Regnier confirmed the initiative, telling Politico that “discussions are indeed ongoing at [the] EU level, with the member states and with the industry.” Starlink operates through low-Earth orbit satellites, which offer high-speed, low-latency connections essential for battlefield coordination and drone warfare. Since 2019, Starlink has dominated the satellite internet market, launching more satellites than any competitor. While rivals such as Eutelsat, Amazon’s Project Kuiper, and Canada’s Telesat have recently stepped up investment, they remain far behind, making it unlikely the EU could offer a realistic substitute, the news outlet said.

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That’s just immensely sad. Would it have been the same if they hadn’t self-immolated their economy?

Germany To Prepare Children For War – Handelsblatt (RT)

The German Interior Ministry is advising schools to prepare children for crises and war, the Handelsblatt newspaper reported on Monday, citing a ministry spokesperson. A raft of calls for “civic readiness” have been made by Western European governments since US president Donald Trump took office and the beginning of US-brokered Ukraine peace talks, described by German Foreign Minister Annalena Baerbock as “deadlocked.”. “Given the recent developments in the security situation, a greater focus should be placed on civil defense, including in school education,” an interior ministry spokesperson told Handelsblatt. According to the outlet, a Russian attack on NATO territory “in four to seven years” is considered “a realistic scenario” by German military, the Bundeswehr.

Schoolchildren should be “prepared for the worst,” crisis response training should be introduced into school curricula, and emergency supplies should be stored in every home, the German ministry spokesperson reportedly proposed. Moscow has repeatedly rubbished the claim it could attack a NATO country, since the escalation of the Ukraine conflict three years ago. However such “civic readiness’ calls have been made across the EU and in the UK in the last week. The European Commission has recently recommended that EU citizens stockpile essential supplies, including food and water, to sustain themselves for at least three days in case of emergencies.

Poland and Norway have reinstated Cold-War-era measures such as bomb shelters and bunkers and mass military training. Sweden and Finland already have guides available to citizens on how to respond if they come under attack. On Monday, the Kremlin said Russia was open to discussing a full ceasefire to end the Ukraine conflict, as long as there are guarantees that Kiev will abide by it. Russian President Vladimir Putin and his US counterpart Donald Trump held a phone conversation last month, following which Moscow agreed to a 30-day moratorium on strikes targeting energy infrastructure, with Ukraine also signing off on the proposal. Moscow, however, has since accused Kiev of repeatedly violating the agreement while stating it will honor it anyway.

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https://twitter.com/VigilantFox/status/1909281482637508718

 

 

Owls

 

 

Dog&kitten
https://twitter.com/buitengebieden/status/1909274661470285972

 

 

Dire wolf

 

 

Art
https://twitter.com/buitengebieden/status/1908910561447850072

 

 

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

 

 

 

Jan 312021
 
 January 31, 2021  Posted by at 10:23 am Finance Tagged with: , , , , , , , , , , , ,  37 Responses »


Tamara de Lempicka The refugees 1937

 

Reddit Preparing To Unleash “World’s Biggest Short Squeeze” In Silver (ZH)
Bitcoin Could Be About To Become The New GameStop (F.)
Just 0.04% Of Israelis Caught COVID19 After 2 Shots Of Pfizer Vaccine (JPost)
‘Get to Zero’ or Face Catastrophe (Tyee)
Germany Threatens Legal Action Over Vaccine Delivery Delays (G.)
Mighty Amazon Looks All But Unassailable As Covid Continues (O.)
Navalny Scam Sells Empty Concrete Shell As ‘Putin’s Luxurious Palace’ (MoA)
Trump’s Top Impeachment Lawyer Has Left His Team (Pol.)
Ohio Lawmakers Want To Mark Trump’s Birthday As ‘Donald J. Trump Day’ (JTN)
The Secret Social Network Of Trees (SMH)

 

 

 

 

Most infections are among the youngest. That doesn’t sound good.

 

 

Long John Silver.

Reddit Preparing To Unleash “World’s Biggest Short Squeeze” In Silver (ZH)

While all eyes have been focused on GameStop and a handful of other heavily-shorted stocks as they exploded higher under continuous fire from WallStreetBets traders igniting a short-squeeze coinciding with a gamma-squeeze, the last few days saw another asset suddenly get in the crosshairs of the ‘Reddit-Raiders’ – Silver. On Thursday, we asked “Is The Reddit Rebellion About To Descend On The Precious Metals Market?” … One WallStreetBets user (jjalj30) posted the following last night: “Silver Bullion Market is one of the most manipulated on earth. Any short squeeze in silver paper shorts would be EPIC. We know billion banks are manipulating gold and silver to cover real inflation. Both the industrial case and monetary case, debt printing has never been more favorable for the No. 1 inflation hedge Silver.

Inflation adjusted Silver should be at 1000$ instead of 25$. Link to post removed by mods. Why not squeeze $SLV to real physical price. Think about the Gainz. If you don’t care about the gains, think about the banks like JP MORGAN you’d be destroying along the way. Tldr- Corner the market. GV thinks its possible to squeeze $SLV, FUCK AFTER SEEING $AG AND $GME EVEN I THINK WE CAN DO IT. BUY $SLV GO ALL IN TH GAINZ WILL BE UNLIMITED. DEMAND PHYSICAL IF YOU CAN. FUCK THE BANKS. Disclaimer: This is not Financial advice. I am not a financial services professional. This is my personal opinion and speculation as an uneducated and uninformed person.”

…and judging by the unprecedented flows into the Silver ETF (SLV) they just got started… SLV saw inflows of almost one billion dollars on Friday, almost double the previous record inflow for this 15 year-old ETF.

 

 

Rainman Sacks
https://twitter.com/i/status/1355368285592715265

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There are more candidates.

Bitcoin Could Be About To Become The New GameStop (F.)

Bitcoin has surged this week, climbing after Tesla TSLA -5% chief executive Elon Musk gave the cryptocurrency a tacit endorsement. Musk sent the bitcoin price sharply higher as a long-running battle between bullish retail traders organised via Reddit’s WallStreetBets forum and Wall Street hedge funds that have long been shorting GameStop shares reached its climax—with regulators and brokerages trying to calm frantic markets with heavy-handed restrictions. Now, data has revealed hedge funds are short bitcoin to the tune of more than $1 billion, even as retail traders pile into bitcoin and other cryptocurrencies. Hedge funds have been increasing their bitcoin short positions—effectively bets that the price of an asset will fall—since the bitcoin price began climbing in October, data from crypto news and analysis company The Block showed.

The net short position in bitcoin futures is now the biggest it has ever been, according to the CFTC’s latest Traders in Financial Futures report. The bitcoin price has soared around 200% since October, surging to over $40,000 per bitcoin before falling back slightly. The blistering bitcoin rally has largely been put down to institutional investors warming to the cryptocurrency and payments giants such as PayPal adding their support—though bubble fears have emerged. As hedge funds increasingly bet against the bitcoin price, to some extent covering their long positions, retail traders empowered by apps and bored by lockdowns are speculating on bitcoin and everything else.

“Being stuck at home due to pandemic lockdowns and restrictions seems to have spurred an influx of day traders,” Frédérique Carrier, head of investment strategy at RBC Wealth Management, wrote in a note. “Investor attitudes are being shaped by the headline-making gains of some high-profile issues. For example, the 35% gain made by bitcoin in the first nine days of 2021, on the heels of a fivefold surge in price from March to December 2020; or the more-than-sixfold increase in GameStop shares in less than two weeks to January 26; or even Tesla, now the fifth-largest stock in the S&P 500 by market capitalisation, with a market cap larger than that of the major U.S., European, and Japanese automakers combined.”

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Encouraging, but too early to draw conclusions.

Just 0.04% Of Israelis Caught COVID19 After 2 Shots Of Pfizer Vaccine (JPost)

A total of 371 out of 715,425 Israelis who passed at least a week after receiving two doses of the Pfizer coronavirus vaccine have contracted the virus – 0.04%, with 16 being sent to the hospital – according to a Health Ministry report released on Thursday. Immunity to COVID-19 is supposed to kick in a week after receiving the second dose of the Pfizer vaccine. According to the studies conducted by Pfizer, the vaccine had an efficacy of about 95%, which is considered very high. The Israeli data appear to confirm the inoculation’s effectiveness, showing an even more promising result.

Later in the day, Maccabi Healthcare Services – one of the country’s four health maintenance organizations – released the first results of the vaccination campaign of its members, with the organization also comparing the data to a control group that did not get inoculated. Some 248,000 Maccabi members were already a week after the second shot as of Thursday. Of those, just 66 got infected with the virus, the majority of them over the age of 55 and about half of them with preexisting conditions. All those infected experienced only a mild form of the disease, and none were hospitalized.

Over the same period of time, some 8,250 new cases of COVID-19 emerged in the control group of some 900,000 people having a diverse health profile. Those who were not inoculated were therefore 11 times more likely to get the disease than those who were immunized, showing 92% effectiveness. “The fact that seven to 18 days after receiving the second dose the vaccine shows a 92% efficacy is very encouraging data,” according to Dr. Anat Aka Zohar, head of Maccabi’s Information and Digital Health Division. “We will continue to monitor the situation to see if the number increases and reaches the 95% demonstrated during the Pfizer study.”

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“We pretended we could live with this virus and that vaccines would save the day. We were wrong. Dead wrong.”

‘Get to Zero’ or Face Catastrophe (Tyee)

Are you tired of COVID? I fucking am. But as a longtime science writer and the author of two books on pandemics, I have to report what you probably don’t want to hear. We have entered the grimmest phase of this pandemic. And contrary to what our politicians say, there is only one way to deal with a rapidly mutating virus that demonstrates the real power of exponential growth: Go hard. Act early. And go to zero. Last January, one strain of this novel virus began its assured global conquest, and since then our leaders have hardly learned a goddamn thing. So yes, I am angry, and I will not disguise my frustration with comfortable or polite language. In the last three months, several super-variants have emerged that are 30 to 70 per cent more infectious than the original Wuhan strain.

The old COVID-19 doubled its numbers every 40 days under a particular set of restrictions; under the same conditions, the variants double every 10 days. That means they can outrun any vaccination campaign.* That means if you haven’t eliminated — or almost eliminated — cases in your region, you are going to learn the meaning of grief. These highly-contagious variants have emerged in jurisdictions with high infection rates: the U.K., Brazil, South Africa and California. They became global tourists months ago, before you read about them. Meanwhile, governments still do not understand the threat at hand. To illustrate it, British mathematician Adam Kucharski recently compared a virus mutation that was 50 per cent more deadly with one that increased transmission by 50 per cent.

With a reproduction rate of about 1.1 and a death rate of 0.8 per cent, current strains of COVID-19 now deliver 129 deaths per 10,000 infections. A virus that is 50 per cent more lethal will kill 193 people in a month. A variant that is more transmissible wins the game with 978 deaths in just one month. The virus is finding its optimal configuration, its ideal form for contagiousness. And you thought this was over? Now don’t think of these variants as the same old COVID-19. That’s a big mistake. They actually represent an entirely new pandemic. In this new maelstrom, this complex coronavirus is just getting warmed up. It has the potential to become even more infectious than the current variants. We allowed this to happen by not taking the measures needed to go to zero, doing whatever was needed to eliminate COVID-19 in our province or country. We pretended we could live with this virus and that vaccines would save the day. We were wrong. Dead wrong.

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This feels like the wrong fight.

Germany Threatens Legal Action Over Vaccine Delivery Delays (G.)

In case you missed this earlier: Germany’s government on Sunday threatened legal action against laboratories failing to deliver coronavirus vaccines to the European Union on schedule, amid tension over delays to deliveries from AstraZeneca, AFP reports.“If it turns out that companies have not respected their obligations, we will have to decide the legal consequences,” economy minister Peter Altmaier told German daily Die Welt. There has been growing tension in recent weeks between European leaders and the British-Swedish pharmaceutical giant AstraZeneca, which has fallen behind on promised delivers of its Covid-19 vaccine.The company said it could now deliver only a quarter of the doses originally promised to the bloc for the first quarter of the year because of problems at one of its European factories.


Brussels has implicitly accused AstraZeneca of giving preferential treatment to Britain at the expense of the EU.The EU briefly threatened to restrict vaccine exports to Northern Ireland by overriding part of the Brexit deal with Britain that allowed the free flow of goods over the Irish border. It backed down after British prime minister Boris Johnson voiced “grave concerns”. AstraZeneca is not the only drugs company in the firing line. Last week Italy threatened legal action against US pharmaceutical firm Pfizer over delays. Top German officials are due to meet with the drugs manufacturers to thrash out the problems.On Friday the European Medicines Agency cleared the vaccine produced by AstraZeneca for use inside the EU, the third Covid vaccine it has approved after Pfizer-BioNTech and Moderna.

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There goes small business.

Mighty Amazon Looks All But Unassailable As Covid Continues (O.)

The earliest references to the “one-stop shop” emerged during the first decades of 20th century as the fast-growing US economy spurred rapid retail innovation. A single location for various products provides obvious benefits: removing the hassle of travelling around town to visit different stores. Jeff Bezos redefined that logic for the internet age, making Amazon a dominant (and perhaps ambivalent) force first in selling books, and then in pretty much everything else. Before 2020 Amazon was a phenomenon, but the coronavirus pandemic has made it all but ubiquitous. The numbers in its financial results for the last three months of 2020, to be published on Tuesday, will be even bigger than Amazon’s earlier instalments in the first pandemic year.


Christmas and Thanksgiving always make the final quarter of the year the strongest for Amazon. Christmas 2020 will mainly be remembered for locked-down celebrations, but analysts predict that it will also mark the first time Amazon’s revenue surpasses $100bn in one quarter. In fact, consensus estimates collated by S&P Global Market Intelligence are forecasting sales of about $120bn – 37% up on the same period in 2019. Profits before tax are pegged at $4.4bn – shy of the record $6.8bn it made in the three months to September, but higher than any single quarter before the pandemic. It was only in 2016 that single-quarter profits topped $1bn, but that’s because the Bezos strategy is to invest spare cash in relentless, ruthless expansion and innovation, so that rivals cannot creep up on it.

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The story has been sold since 2010. CIA.

Navalny Scam Sells Empty Concrete Shell As ‘Putin’s Luxurious Palace’ (MoA)

In 2010 some minor Russian businessman, Sergei Kolesnikov, who had pissed off people above his pay grade, resettled from Russia to Estonia. To make himself interesting, and likely to get financial support, he made up a story. David Ignatius, the CIA’s resident writer at the Washington Post, picked it up: You can see the sprawling, Italian-style palace on the Black Sea in satellite photos. There’s a fitness spa, a hideaway “tea house,” a concert amphitheater and a pad for three helicopters. It’s still under construction, but already the cost is said to total more than $1 billion. And most amazing of all, according to a Russian whistleblower named Sergey Kolesnikov, it was predominantly paid for with money donated by Russian businessmen for the use of Prime Minister Vladimir Putin.

The funds have come “mainly through a combination of corruption, bribery and theft,” charges Kolesnikov, a businessman who until November 2009 worked for one of the companies he alleges was investing money for Putin. In 2012 BBC Newsnight again picked up the story and made it into a nine minutes long anti-Putin segment. Putin’s Palace? A Mystery Black Sea Mansion Fit For A Tsar “On a thickly wooded mountainside overlooking Russia’s Black Sea coast, an extraordinary building has gradually taken shape. It is alleged to be a palace built for the personal use of Vladimir Putin, with massive and illegal use of state funds. Originally conceived, it is said, as a modest holiday house with a swimming pool, it now boasts a magnificent columned facade reminiscent of the country palaces Russian tsars built in the 18th Century. The massive wrought-iron gates into the courtyard are topped with a golden imperial eagle. Outside are formal gardens, a private theatre, a landing pad with bays for three helicopters, and accommodation for security guards.”

At the end of 2020 the ‘Putin’s palace’ story was recycled to promote the rightwing Russian nationalist and anti-corruption campaigner Alexey Navalny. Navalny was at that time in Germany’s Black Forrest area where he recovered from an alleged poisoning. A studio was needed to produce a video about the ‘palace’. A German producer couple who had recently opened a TV-studio received a request. As the German daily Badische Zeitung reported (my translation): “Early December a request arrived via email from a U.S. production company in Los Angeles. There was talk of a documentation. It was looking for adequate locations, people and equipment in southern Germany. The German producers did not know the company, even though they have good contacts in L.A., but the request made a very professional impression.

The studio was rented to create the ‘palace’ material for the Navalny campaign. “The studio was actually only rented for just under a week, but the filmmakers liked the location with its atmosphere and the cinematic possibilities so much that the shooting was extended to a total of two weeks and parts of the 20-person international crew from Berlin, where actually a last shoot was planned before the flight to Moscow came to Kirchzarten.” On January 17 Navalny flew back to Russia and was immediately arrested for having violated his probation in a case where he had been sentenced for funneling a company’s money into his own pockets. On January 19 Navalny’s anti-corruption campaign FBK uploaded a two hour long polemic in which Navalny repeats the decade old claim that there is a palace at the Black Sea that is actually owned by Putin. But none of the many documents he provides proves that Putin is in any way involved in the project.

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Trump and his lawyers. A sordid tale all around.

Trump’s Top Impeachment Lawyer Has Left His Team (Pol.)

Former President Donald Trump has lost his top impeachment lawyer just days before his trial is to begin, a person familiar with his legal strategy and two attorneys close to the team confirmed on Saturday night. Butch Bowers, a South Carolina lawyer who was reportedly set to play a major role in the Senate’s trial of the former president, is now no longer with the team. Deborah Barbier, another South Carolina lawyer, won’t be either. The person described it as a “mutual decision” and said new names will be announced shortly. In addition, CNN reported on Saturday night that a third member of Trump’s prospective legal team, Josh Howard, was also leaving. The network reported that the ex-president had wanted his lawyers to focus on erroneous arguments of mass election fraud rather than the constitutionality of impeaching an ex-president.

The decision by Bowers, Barbier, and Howard to not join the team raised immediate questions, both about what compelled them to part ways and who actually will play the role of lawyer to Trump when the impeachment trial starts in early February. Trump has had difficulty finding legal help for his second impeachment, with some of the lawyers who worked on his first trial saying they wouldn’t do the same this go around. Bowers’ hiring was first announced by Trump ally and South Carolina Sen. Lindsey Graham. A longtime Republican attorney, Bowers represented former South Carolina Govs. Mark Sanford and Nikki Haley, and had experience in election law.

News outlets in South Carolina also named trial attorneys Greg Harris and Johnny Gasser as part of Trump’s impeachment team, although aides to Trump never officially confirmed who would be representing the former president. Trump’s first legal filing in the impeachment trial is due this coming Tuesday. In a statement, Trump spokesperson Jason Miller did not address the uncertainty around the legal team but, rather, railed against impeachment itself, noting that the vast majority of Senate Republicans voted that convicting a former president is an unconstitutional act — a conclusion with which legal scholars disagree.

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What do you mean Not The Onion?

Ohio Lawmakers Want To Mark Trump’s Birthday As ‘Donald J. Trump Day’ (JTN)

Two Ohio lawmakers are reportedly seeking support from their fellow legislators to mark former President Donald Trump’s birthday in that state as “President Donald J. Trump Day.” State Reps. Reggie Stoltzfus and Jon Cross reached out to lawmakers in the Ohio House on Friday, asking them to “recognize the accomplishments of [Trump’s] administration, and [show] that the Ohio House believes it is imperative we set aside a day to celebrate one of the greatest presidents in American history.” The lawmakers are seeking to designate June 14, Trump’s birthday, as the holiday in question. The news was first reported in the Ohio Capitol Journal, which said it obtained the co-sponsor request sent by Stoltzfus and Cross. In addition to being Trump’s birthday, the United States also marks June 14 as Flag Day, commemorating the date in 1777 on which the Continental Congress officially adopted the flag of the United States.

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Wonderful.

The Secret Social Network Of Trees (SMH)

By the time she was in grad school at Oregon State University, however, Simard understood that commercial clear-cutting had largely superseded the sustainable logging practices of the past. Loggers were replacing diverse forests with homogeneous plantations, evenly spaced in upturned soil stripped of most underbrush. Without any competitors, the thinking went, the newly planted trees would thrive. Instead, they were frequently more vulnerable to disease and climatic stress than trees in old-growth forests. In particular, Simard noticed that up to 10 per cent of newly planted Douglas fir were likely to get sick and die whenever nearby aspen, paper birch and cottonwood were removed. The reasons were unclear.

The planted saplings had plenty of space, and they received more light and water than trees in old, dense forests. So why were they so frail? Simard suspected the answer was buried in the soil. Underground, trees and fungi form partnerships known as mycorrhizae: threadlike fungi envelop and fuse with tree roots, helping them extract water and nutrients like phosphorus and nitrogen in exchange for some of the carbon-rich sugars the trees make through photosynthesis. Research had demonstrated that mycorrhizae also connected plants to one another and that these associations might be ecologically important, but most scientists had studied them in greenhouses and laboratories, not in the wild.

For her doctoral thesis, Simard decided to investigate fungal links between Douglas fir and paper birch in the forests of British Columbia. Apart from her supervisor, she didn’t receive much encouragement from her mostly male peers. “The old foresters were like, “Why don t you just study growth and yield? ” Simard told me. “I was more interested in how these plants interact. They thought it was all very girlie.” Now a professor of forest ecology at the University of British Columbia, Simard, who is 60, has studied webs of root and fungi in the Arctic, temperate and coastal forests of North America for nearly three decades. Her initial inklings about the importance of mycorrhizal networks were prescient, inspiring whole new lines of research that ultimately overturned long-standing misconceptions about forest ecosystems.

By analysing the DNA in root tips and tracing the movement of molecules through underground conduits, Simard has discovered that fungal threads link nearly every tree in a forest – even trees of different species. Carbon, water, nutrients, alarm signals and hormones can pass from tree to tree through these subterranean circuits. Resources tend to flow from the oldest and biggest trees to the youngest and smallest. Chemical alarm signals generated by one tree prepare nearby trees for danger. Seedlings severed from the forest’s underground lifelines are much more likely to die than their networked counterparts. And if a tree is on the brink of death, it sometimes bequeaths a substantial share of its carbon to its neighbours.

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