I was standing in line in a phone store and the two women in front of me were talking about the press and how dishonest they are. The interesting thing was one did not like Trump and was starting to like him because the press was so negative. The other had been a Trump supporter and just listening to them made me think just how openly revolting the press has become. Now a Harvard study published May 18th, 2017 reveals what many Americans are starting to talk about openly just how corrupt the press has become. Trump’s press coverage has set an all-time new historic record for negativity. The Harvard study says President Trump’s early days in office were subjected to almost universally negative news coverage, confirming what he has been complaining about. They reported that Trump presidency is ‘setting a new standard for unfavorable press coverage of a president.’ I personally have done significant research in political-economic history reading the commentaries throughout history to get a sense of the thinking process and its evolution. I have never uncovered such corruption in mainstream media in the entire history of the United States. This is bordering on the corrupt Communist press of the cold war – the new American Pravda.
Economic impact studies are everywhere. Whether it’s to support a new highway project, special tax breaks for solar energy, the building of a civic center or sports complex, or to promote subsidies for Hollywood film producers, you can find an economic impact study, often touting how great the project will be for the state or local economy. The formula is simple, predictable, and effective. A special interest group that stands to benefit from the project funds an economic impact study that purports to provide hard numbers on the number of jobs, the increase in wages, and the additional output that will be generated by the project or subsidy, and it will do this on an industry-by-industry basis. It makes grandiose claims about how much overall economic growth will be enhanced for the state or region generally. Once the report is completed, the special interest group that paid for the study will tout these results in press releases that will be picked up by the largely uncritical media establishment, ensuring that the political decision makers and others who determine the fate of the project receive political cover. These studies all have several things in common. First, they typically use proprietary, off-the-shelf models with acronym names like IMPLAN (Impact Analysis for Planning), CUM (Capacity Utilization Model), or REMI (Regional Economic Model, Inc.). Rights to use the models are purchased by professional consulting firms who are hired by the interest groups to do the studies. Furthermore, seldom do those who actually perform the studies have formal training in economics. Instead, their expertise is in using one or more of the aforementioned proprietary models. And finally, all of these studies ignore basic principles of economics and, as a result, do not meaningfully measure what they claim to be measuring – the economic impact of the public policies and projects that they are assessing.
In the waning years of the Obama administration, the National Security Agency (NSA) swept up and reviewed the communications of Americans to an extent previously unknown, in direct violation of the Constitution and its own revised guidelines, recently unsealed documents reveal. The NSA is authorized to collect intelligence on foreigners under section 702 of the Foreign Intelligence Surveillance Act (FISA). With this type of intelligence collection, it is virtually inevitable that Americans’ communications will be incidentally intercepted, however there are procedures in place to keep those communications protected and anonymous. Typically, when an American citizen is swept up in NSA surveillance, they are supposed to be ‘masked’ to protect their identity, but there are large loopholes in place that allow the NSA to spy on Americans without a warrant or any probable cause whatsoever. When the NSA conducts what is known as ‘upstream collection’ of internet communications, it is impossible to target a single email, instead sweeping up ‘packets’ of data containing several messages. The NSA is supposed to sift through the data packets and discard all but the targeted email(s).
#SethRich was a hero#SethRich changed history#SethRich exposed the corrupt Here is my statement > — Kim Dotcom (@KimDotcom) May 23, 2017
As promised over the weekend, Kim Dotcom has delivered his official ‘statement’ on the Seth Rich murder. Unfortunately, it’s a bit light on the details and more of a teaser along with a promise to disclose full details of his relationship with Seth Rich to Special Counsel Mueller in return for safe passage to and from the United States. Here is the full statement as posted to Kim Dotcom’s website: I know that Seth Rich was involved in the DNC leak. I know this because in late 2014 a person contacted me about helping me to start a branch of the Internet Party in the United States. He called himself Panda. I now know that Panda was Seth Rich. Panda advised me that he was working on voter analytics tools and other technologies that the Internet Party may find helpful. I communicated with Panda on a number of topics including corruption and the influence of corporate money in politics. ‘He wanted to change that from the inside.’
This post was published at Zero Hedge on May 23, 2017.
While tense trade negotiations between the US and Mexico over the price and quota for U. S. imports of Mexican sugar continue (a happy ending appears unlikely, especially after a Mexican sugar company on Friday called on the government to take action against American fructose producers and protect the local industry from US deals), a new protectionist measure involving sugar half way around the globe was unveiled on Monday when China – the world’s biggest importer of the sweet substance – said it will impose significant penalties on sugar imports following lobbying by domestic mills. According to the ruling first described by Reuters, up to a third of China’s annual sugar imports will be impacted by an extra tariff for the next three years on shipments that the government said had “seriously damaged” the domestic industry. The details: China currently allows just over 1.9 million tonnes of imports at a tariff of 15% as part of its commitment to the World Trade Organization. All imports above this amount are slapped with a 50% levy. After Monday’s ruling, the total sugar duty will nearly double, with Beijing imposing an additional 45% tax to these imports in the current fiscal year taking the total to 95%. This will fall to 90% next year and 85% a year later, China’s Commerce Ministry said in a statement. The ruling exempted 190 smaller countries and regions from the new duty, including smaller producers such as the Philippines, Pakistan and Myanmar.
This post was published at Zero Hedge on May 22, 2017.
Last week, Fox News dropped a bombshell report officially confirming, via anonymous FBI sources, what many had suspected for quite some time, that murdered DNC staffer Seth Rich was the WikiLeaks source for leaks which proved that the DNC was intentionally undermining the campaign of Bernie Sanders. In addition to exposing the corruption of the DNC, the leaks cost Debbie Wasserman Shcultz her job as Chairwoman. Of course, if it’s true that WikiLeaks’ emails came from a DNC insider it would end the “Russian hacking” narrative that has been perpetuated by Democrats and the mainstream media for the past several months. Moreover, it would corroborate the one confirmation that Julian Assange has offered regarding his source, namely that it was “not a state actor.” Meanwhile, the plot thickened a little more over the weekend when Kim Dotcom confirmed via Twitter that he was working with Seth Rich to get leaked emails to WikiLeaks. I knew Seth Rich. I know he was the @Wikileaks source. I was involved. — Kim Dotcom (@KimDotcom) May 20, 2017
This post was published at Zero Hedge on May 22, 2017.
Amid the chaos of James Comey’s firing, new questions about the timeline of his fateful investigation Former Director of National Intelligence James Clapper appeared on This Week Sunday, and said some head-scratching things. Clapper back in March told Meet the Press that when he issued a January 6th multiagency intelligence community assessment about Russian interference in the election, the report didn’t include evidence of collusion between the Trump campaign and Russia, essentially saying he hadn’t been aware of any such evidence up through January 20th, his last day in office. On Sunday, he said that didn’t necessarily mean there was no such evidence, because sometimes he left it up to agency chiefs like former FBI Director James Comey to inform him about certain things. “I left it to the judgment [of] Director Comey,” Clapper said, “to decide whether, when and what to tell me about counterintelligence investigations.” Clapper said something similar when he testified before the Senate Judiciary Committee last Monday. In prepared remarks, he essentially said that there was nothing odd about his not being informed about the existence of an FBI counterintelligence investigation involving Donald Trump’s campaign.
This post was published at Zero Hedge on May 21, 2017.
In a move that will surely light the proverbial lightbulb over Donald Trump’s head, Brazilian President Michel Temer, having been officially dragged into Brazil’s massive corruption scandal after a record emerged in which he urged the payment of “hush money”, said on Saturday he would ask the Supreme Court to suspend its investigation into allegations he was also involved in the carwash corruption scheme, vowing to remain in power. Speaking during a televised address on Saturday afternoon, Brazil’s deeply unpopular president, who replaced a just as deeply unpopular president last year when Dilma Rouseff was impeached, claimed the recording that implicated him in the scandal was doctored and said he would file a petition with the Supreme Court to suspend the investigation until it could be verified, the WSJ reported. In the recording cited by Temer, which unleashed a historic crash of the Brazilian stock market and currency on Thursday when news of Temer’s involvement broke, the president can be heard chatting with Joesley Batista, chairman and heir of the beef-and-chicken JBS empire, apparently him his approval to pay the jailed former speaker of the House Eduardo Cunha – the man responsible for Dilma Rouseff’s ouster last year – to buy his silence. Batista, who made the recording and gave it to prosecutors in hopes for prosecutorial leniency against JBS, said the recording wasn’t edited.
This post was published at Zero Hedge on May 20, 2017.
Xiao Jianhua, the Chinese billionaire whose abrupt disappearance from Hong Kong in January made waves internationally, had engaged in a week-and-half long negotiation with Chinese anti-corruption agents before he agreed to return to Beijing with them, according to a source with knowledge of the matter. The source, who is close to high-level discussions in the Chinese leadership headquarters at Zhongnanhai, also told The Epoch Times that the anti-corruption team is still in Hong Kong investigating other corrupt Chinese businessmen and officials residing in the semiautonomous city. Xiao, a 45-year-old China-born Canadian citizen, suddenly went missing from his serviced apartment in Hong Kong’s Four Seasons Hotel on Jan. 27. Accounts in Hong Kong and Western press suggested that Xiao, who controls the holding company Tomorrow Group, was effectively abducted by the Chinese authorities and spirited back to mainland China. But Xiao had consented to be brought in by the authorities, according to the source in Zhongnanhai. The source said that Xiao and anti-corruption teams based in the Four Seasons discussed the conditions of the engagement for over a week before Xiao finally agreed to leave with them. While details of what transpired are scarce, it is likely that some level of coercion was involved, given mainland authorities presumably continue to enjoy leverage over Xiao, his wealth, and his family members.
Recall that behind the latest political scandal to grip Brazil, in which president Michel Temer was accused of paying hush money to the jailed former House speaker, Eduardo Cunha (who was responsible for the impeachment of Temer’s predecessor Dilma Rouseff) to keep him from dragging Temer down as well, and which yesterday led to historic losses for the the Bovespa, was a plea bargain by the top executives of Brazil’s meatpacking giant JBS, Joseley Batista and his brother Wesley, which among other things, included an alleged recording of a phone conversation in which Batista told Temer he was paying Cunha to remain silent, to which the president was recorded saying, “You need to keep that up, okay?”
This post was published at Zero Hedge on May 19, 2017.
#WikiLeaks informer Seth Rich murdered in US but MSM was so busy accusing Russian hackers to take notice. pic.twitter.com/0XVezTyfHM — Russian Embassy, UK (@RussianEmbassy) May 19, 2017
Earlier this week, Fox News dropped a bombshell report officially confirming, via anonymous FBI sources, what many had suspected for quite some time, that murdered DNC staffer Seth Rich was the WikiLeaks source for leaks which proved that the DNC was intentially undermining the campaign of Bernie Sanders. In addition to exposing the utter corruption of the DNC, the leaks cost Debbie Wasserman Shcultz her job as Chairwoman. At the time, we mockingly wondered why the mainstream media seemingly overlooked a huge new development in a highly suspicious unsolved murder case. Finally, we find it ‘shocking’ that while the New York Times, Washington Post, CNN, etc are all too eager to regurgitate each others anonymously sourced stories that are critical of Trump, not a single one of them had a single reference of this Fox News bombshell on their website at the time this article was published. Turns out we weren’t alone, as the Russian Embassy in the U. K. just sent out the following tweet: “#WikiLeaks informer Seth Rich murdered in US but MSM was so busy accusing Russian hackers to take notice.”
This post was published at Zero Hedge on May 19, 2017.
#protest now in #SoPaulo against #Brazil #Temer caught negotiating kickbacks & for direct elections in the country (photo: Dani Sampaio) pic.twitter.com/t4ojSzwyoe — ana cernov (@anacernov) May 18, 2017
The presidency of Brazil’s Michel Temer, who replaced disgraced and impeached predecessor Dilma Rouseff last summer, lasted about one year without a major corruption scandal. That changed tonight, when Brazil’s O Globo newspaper which was instrumental in exposing the Carwash scandal which ultimately led to Rouseff’s downfall and the arrest and incarceration of countless politicians, reported that the chairman of meatpacking giant JBS secretly recorded his discussion with Temer about “hush money” payments to jailed former House Speaker Eduardo Cunha in return for his silence. The allegations are the latest development in Operation Carwash, a sprawling corruption probe that has implicated many of Brazil’s business and political elite, including some in the president’s own party. Temer has repeatedly denied any wrongdoing. Readers may recall that in a delightfully ironic case study of political irony and power vacuum, Eduardo Cunha, the conservative Brazilian political leader who led the push in 2016 to oust Dilma Rousseff, was sentenced in March to more than 15 years in prison himself, when a Brazil judge found him guilty of corruption, money laundering and illegally sending money abroad, all in connection with the sprawling graft investigation involving the state-run oil company Petrobras, and which Cunha himself used as a pretext to dispose of Rouseff.
This post was published at Zero Hedge on May 18, 2017.
Macron’s funding reveals that elite Socialists were really behind him changing the label to sell a centrist agenda, but in reality, to maintain their agenda. Macron was able to raise funds from French abroad with the promises of change, and this targeted particularly the French who fled Hollande living in London and New York. He did a photo-op with Nobel Prize laureate Joseph E. Stiglitz before journalists who is critical of the management of globalization, against laissez-faire economists who he classifies a ‘free market fundamentalists’, as well as international institutions such as the International Monetary Fund (IMF) and the World Bank. Stiglitz is an American economist and a professor at Columbia University and is a former senior vice president and chief economist of the World Bank. He was also a former member and chairman of the Council of Economic Advisers under Bill Clinton and supported Hillary over Obama saying she is more ‘liberal’ (socialist) than Obama. Stiglitz believes in Georgism, which is a variety of Marxism whereby the State should own all the resources derived from land, which is an old Physicocrat(French) idea that wealth is derived from land. In this way, all natural resources should belong to government from mining to energy just for starters as if government operated industries ever ran efficient or were free from corruption. He also supported a single tax for all and believes that, while people should own the value what they produce themselves with everything derived from land should belong to government characterized as belonging equally to all members of society (government).
Goldman, which has been pushing for higher oil prices with seemingly daily bullish research reports for the past month, and which underwrote the last Saudi Arabian bond issue and is expected to also manage the Aramco IPO (explaining the bank’s conflict of interest), released a note commeting on the latest development in the oil market, which sent the price of crude higher by 3% after Saudi and Russia oil minister agreed to extend the OPEC production cuts by another 9 months through the end of Q1 2018. Specifically, Goldman writes that “today’s announcement will likely further extend the oil price rebound started last week on decent stock draws and low positioning, although the rally so far today has remained modest compared to the move that occurred last year when the OPEC cuts were first announced.” Even so, Goldman’s oil analyst Damien Courvalin had some caveats. Specifically, he said that for the strategy to work, however, two things have to take place: compliance needs to remain high and long-term oil prices need to remain low to prevent shale producers from ramping up investment significantly more. In fact, an extension of the cuts should go hand in hand with guidance of future production increases by low cost producers, in our view, with an already notable emphasis by Saudi and others that oil prices will likely remain in a $45-55/bbl long-term range, in line with our forecasts. This leaves us reiterating our 3Q17 $57/bbl Brent price forecast and, with an increasingly likely extension of the cuts, raises our confidence that the oil market will shift into backwardation in 3Q17. His full note below: Saudi and Russia commit to a 9-month extension of oil production cuts Saudi Arabia and Russia announced today, May 15, that they had reached an agreement to extend their oil output cuts for another nine months, through Mar-18. This announcement comes ahead of the scheduled May 25 meeting of OPEC members. Saudi energy minister Khalid al-Falih and his Russian counterpart Alexander Novak further pledged in a joint statement “to do whatever it takes” to reduce global inventories to their five-year average. In our view, this commitment to a longer than expected cut by the two largest participants of the output deal significantly increases the likelihood that all participants will agree to such an extension, with the longer duration likely helping to achieve high compliance through 2017.
This post was published at Zero Hedge on May 15, 2017.
With Moon Jae-In’s victory in South Korea, the period of tension on the Korean Peninsula is likely to end. With the rise to power of the new president, South Korea can expect a sharp decline in hostilities with North Korea as well as a resumption of dialogue with China. An expected and highly anticipated victory was confirmed in South Korea on May 9, with candidate Moon winning South Korea’s presidential race over his rivals Hong Joon-pyo (Liberty Korea Party) and Ahn Cheol-soo (People’s Party). After the resignation and arrest of former President Park Geun-hye over an immense corruption scandal, public opinion turned away from her party in favour of the main opposition representative, a center-left lawyer specializing in humanitarian issues. Moon spent several years in the opposition party advocating for greater cooperation in the region and dialogue with Pyongyang as well as with Beijing, representing quite a contrast to Guen-Hye’s pro-Americanism. Along the lines of Duterte in the Philippines, Moon intends to resume dialogue with all partners in order not to limit his options in the international arena. Such an approach reflects the essence of the multipolar world order: cooperation and dialogue with all partners in order to achieve a win-win outcome. Looking at the situation in the region, the victory of a politician who seems to have every intention of negotiating an agreement rather than supporting military escalation seems to provide for a hopeful future for China and her neighbors. The level of cooperation and trade between South Korea and China is fundamental to the economy of both countries, so a return to the negotiating table over the issues surrounding the deployment of THAAD are a hopeful sign that the business communities of China and South Korea value deeply.
This post was published at Zero Hedge on May 15, 2017.
An American citizen has been taken into custody on suspicion of ‘hostile acts’ against the North Korean government, officials said Sunday. ‘A relevant institution of the DPRK detained American citizen Kim Hak Song on May 6 under a law of the DPRK on suspension of his hostile acts against it,’ the state-run Korean Central News Agency (KCNA) said. DPRK is an acronym for North Korea’s official name, the Democratic People’s Republic of Korea. ‘A relevant institution is now conducting a detailed investigation into his crimes,’ the Agency added. An employee of the Pyongyang University of Science and Technology, Kim is the fourth American citizen to be held by the North Korean regime, and the second to be detained in just two weeks. Another U. S. citizen, Kim Sang Duk, also known as ‘Tony Kim,’ was arrested on Apr. 22 at Pyongyang Airport under suspicion of similar charges, ‘committing criminal acts of hostility’ against the regime.
Republican Senator John McCain is rather perturbed that president Donald Trump fired FBI director, James Comey. His disappointment, though, is hard to understand considering the turn on Comey by the government as of late. Republicans, by and large, had a lot of great things to say about James Comey when he chose to look into Hillary Clinton’s email scandal during the presidential election last year. Oddly, the political right also seemed to really love WikiLeaks founder, Julian Assange for releasing the ‘Podesta emails’ which showed corruption withing the DNC and Hillary’s campaign team, themselves. So why the dramatic turn? After yesterday’s announcement that Comey had been fired by Trump at the suggestion of Deputy Attorney General, Rod Rosenstein, McCain said he is ‘disappointed’ with President Trump’s decision. ‘While the President has the legal authority to remove the Director of the FBI, I am disappointed in the President’s decision to remove James Comey from office,’ McCain said in a statement. McCain argued that such a move reinforces his calls for a special congressional panel to investigate Russia’s interference in the 2016 presidential election. Trump said he fired Comey over the handling of Hillary’s email scandal. But there is probably a whole lot more to it than that. Because WikiLeaks has confirmed that Russia was not the source of the leaked Podesta emails, the source of the Russian hacking, it appears that this is all likely intertwined. But finding the glue to stick this all together has proven difficult.