Jul 182024
 
 July 18, 2024  Posted by at 4:55 pm Finance Tagged with: , , , , , , , ,  4 Responses »


John French Sloan Spring rain 1912

 

It’s been a while since we saw Andrew Korybko here. But there he is.

 

 

Andrew Korybko:

 

In Defense Of JD Vance As Trump’s VP

Addressing The Top-Three Criticisms Head-On

Trump’s decision to pick freshman Ohio Senator JD Vance as his Vice President (VP) has riled some members of the Alt-Media Community (AMC), who claim that it represents a step backwards for the MAGA movement. They point to his history as a US Marine in Iraq, as a venture capitalist after that, and then finally as a former Never Trumper to claim that he’s a neocon, which his hawkish positions on China and Iran confirm in their minds.

The reality though is that Vance isn’t someone whose worldview can easily be pigeonholed. His history as a US Marine in Iraq taught him, in his own words, that “I had been lied to – that the promises of the foreign policy establishment were a complete joke.” As for his time as a venture capitalist, it led to close friendships with leading elites like Peter Thiel, who’ve been instrumental in turning some Silicon Valley power players against the Democrats. This could ultimately prove to be a game-changer in the election.

Likewise, the same can be said about him formerly being a Never Trumper, which can appeal to millions of on-the-fence voters who used to despise Trump until they were “red pilled” like he admits he was and are thus now seriously considering supporting him. He argued that “I said some bad things about Donald Trump 10 years ago. I can make a good case to the American people, people who may have been skeptical of the president back in 2016, who could be skeptical now, that we’ve seen the results.”

Vance’s hawkish positions on China and Iran are to be expected. The first is the US’ systemic rival while the second threatens its regional hegemony. Nevertheless, what he’s said about Russia and Ukraine proves that he’s not an ideologically driven warmonger, which suggests that he’ll pragmatically manage the US’ competition with them. He’s no doubt a hegemonist, but that comes with the territory, and he’ll never forget what he learned about the establishment during his time with the US Marines in Iraq.

Clarifying China & Russia’s Roles In The MAGA Worldview

His worldview is that the US should be selective with its engagements abroad, both militarily and in terms of foreign aid, and he’s a proponent of Trump’s reported plan for NATO. This would see the bloc become “dormant” as its European members are coerced to step up their involvement in containing Russia while the US “Pivots (back) to Asia” to contain China. Members of the AMC claim that this makes him a “sell-out”, but it’s unrealistic to expect a leading member of MAGA to not be hawkish on China.

After all, Trump was extremely tough on the People’s Republic, which he justified on the grounds of rebalancing their astronomical trade deficit that reached several hundred billion dollars a year before his election. His problem though was that he was too influenced by his son-in-law Jared Kushner during his first term and fell under the sway of neocons, but he’s since learned his lesson judging by how he reportedly took his son Don Jr’s, Steven Bannon’s, and Tucker Carlson’s advice to pick Vance as his VP.

Trump and Vance share the vision of redirecting the US’ containment focus away from Russia and towards China, with a view towards preventing the first’s potentially disproportionate dependence on the second that could turbocharge its superpower trajectory and thus seriously challenge the US. The resultant system of Sino-US bi-multipolarity would comparatively favor China since it would amount to them practically being equals on the world stage, hence why those two want to avoid this if possible.

The means to that end is to relieve some pressure upon Russia so that it can rely more on India and other Global South states, particularly those from its “Ummah Pivot”, as export markets for its natural resources instead of being forced by circumstances into funneling most of them towards China’s rise. From Russia’s perspective, any reduction of pressure would be welcome, especially if it results in some of its national security interests in Europe finally being respected through a compromise in Ukraine.

Russia’s Grand Strategic Interests

Preemptively averting potentially disproportionate dependence on China is also important, not for any politically Sinophobic reasons, but for simple pragmatism since no strategically autonomous country like Russia wants to be reliant on a single partner for the bulk of its foreign export earnings. This explains why it’s recently recalibrated its Asian balancing act from its hitherto Sino-centricity through Putin’s trips to North Korea and Vietnam as well as his hosting of Indian Prime Minister Modi.

The preceding five hyperlinked analyses explain this strategy in detail, the gist of which was just reflected in Valdai Club Program Director Timofei Bordachev’s article about how “Russia has redefined its Asia strategy”, which was released after those pieces and then republished by RT on their front page. This insight is relevant with regards to Trump’s decision to pick Vance as his VP since it strongly suggests that Russia would be receptive to those two’s envisaged endgame of swiftly resolving the Ukrainian Conflict.

Alt-Media’s Activist Problem

Despite recognizing how easily that proxy war could spiral out of control into World War III, and thus appreciating the need to bring about a diplomatic end to it as soon as possible exactly as Vance has promised that he’ll seek to do, some in the AMC are still displeased with him. A lot of these disgruntled folks are activists at heart, which makes them ideologues for the causes that they support, which in this case are world peace in general and less US pressure on China and Iran in particular.

They therefore can’t approve of Vance as VP because of his hawkish positions towards those two, hence why they’re now agitating against him by fearmongering that he’ll risk sparking World War III with them instead of with Russia like Biden and his team are dangerously flirting with by miscalculation. They’re entitled to their views, but observers should remember that they’re being shared by ideologues, no matter how well-intentioned they may be.

These people are purposely being hyperbolic for political reasons related to the causes that they passionately support. They’re also naïve if they truly thought that Trump wouldn’t pick someone who shares his worldview, which is pragmatic towards Russia but adversarial towards China and Iran. It’s possible to raise awareness of the risks that a theoretical Vance presidency could bring if something happens to Trump without going overboard by fearmongering about him and discrediting him.  

Exposing The Frauds

Some of these folks aren’t being sincere with their concerns, however, since they have ulterior motives. There are those who have a unique interpretation of what MAGA is, which is at variance with what it objectively is, and are thus very angry that Trump’s pick of Vance as VP shattered their expectations. The resultant cognitive dissonance explains some of their furious posts on social media after having previously supported the movement.

Then there are those who never truly supported MAGA, but sought to establish “alliances of convenience” on certain causes like those related to China and Iran, and are deliberately trying to discredit MAGA as revenge since it’s clear that Trump 2.0’s policies wouldn’t align with their views. This is especially true for hitherto seemingly MAGA-friendly foreigners who are now trying to manipulate voters’ perceptions about emotive issues like the ones that they support after Vance’s pick as VP.

These people can’t vote in US elections, yet they’re exploiting social media to have an outsized role in influencing those who can, with the common narrative being that they imply one way or another that this decision supposedly proves that Trump has betrayed MAGA. The truth though is that Trump is paving the way for a successor who’ll carry on what MAGA has always been about on the foreign policy front, and that’s being tough on the US’ top rivals in order to decelerate its declining unipolar hegemony.

MAGA’s Role In The Global Systemic Transition

To be sure, the way in which Trump and Vance envisage doing this is by first alleviating the risk of World War III with Russia, which is a net positive for peace and would bring humanity back from the brink if it’s successful. The global systemic transition to multipolarity has also unprecedentedly accelerated so much since the start of Russia’s special operation that restoring the 1990s-era unipolar system is now impossible, thus meaning that MAGA’s foreign policy is really about responsibly managing this moment.

The best that the US can now hope to achieve is to preserve its privileged position as long as possible through creative – and ideally peaceful – means. It’ll never enjoy the unparalleled dominance from the post-Old Cold War period, but it also won’t become a so-called “normal country” anytime soon either, let alone collapse in the near future like many in the AMC have predicted. A Trump-Vance presidency would be all about slowing the pace of its decline and regaining some ground wherever possible.  

The difference between them and Biden-Harris is that MAGA wants to improve socio-economic living standards at home while keeping World War III at bay abroad while the Democrats care less about Americans and more about their fellow liberalglobalist elite even at the expense of risking World War III. Few activists will ever be fully pleased with any presidential ticket, but comparatively speaking, the Trump-Vance one is much better for world peace as a whole than the Biden-Harris one.

 

 

 

 

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Aug 042020
 


Paul Verlaine and Arthur Rimbaud, Brussels 1873

 

Yale Doctor Battles CNN Anchor Over Effectiveness Of HCQ (Fox)
COVID19 Survivors Show Increased Rate Of Psychiatric Disorders (G.)
New Heart Problems Seen In Recovered COVID-19 Patients (R.)
Italy Survey Suggests Coronavirus 6x More Prevalent Than Official Data (R.)
Mutation May Have Made Virus More Vulnerable To Vaccines (R.)
Less Than Third Of Canadians Willing To Travel Without COVID19 Vaccine (CBC)
Manhattan DA Probing Trump Over More Than ‘Hush-Money’ Payments (R.)
Trump Considering Executive Action To Suspend Evictions, Payroll Tax (Hill)
Trump Calls To ‘Re-Run’ New York House Race Over Discarded Mail-In Ballots (F.)
How White Radicals Hijacked Portland’s Protests (Tracey)
Debunking The Coup d’Trump (Turley)
‘The Money Story’ Told By A Father Of MMT (Kohler)
Papers Leaked Before UK Election In Suspected Russian Operation Were Hacked (R.)
A Glimpse Towards November (Kunstler)
Biden Says He Can’t Wait To Find Out Who He Picked For VP (Babylon Bee)

 

 

Some encouraging looking numbers. Cases and deaths decrease both globally and in the US. Europe doesn’t look so good, though, and neither does Africa.

 

 

 

 

 

 

 

 

 

 

 

 

Taleb – How to Handle a Pandemic

Yaneer COVID growth rates Europe Africa

 

 

1) I’ve noted before that the first HCQ criticism was all about you could die from it. That’s gone, now it’s merely ineffective. Why? What happened?

2) Dr. Risch says the studies look at the wrong people (low risk). Do we know, however, how HCQ is administered? Is it given to early onset patients, and combined with zinq?

3) Zelenko explains in great detail how he works, and why. But he’s completely ignored and shunned by corporate media. Doesn’t look like truth finding to me.

Yale Doctor Battles CNN Anchor Over Effectiveness Of Hydroxychloroquine (Fox)

Yale epidemiology professor Dr. Harvey Risch and CNN host John Berman bickered over hydroxychloroquine on Monday during a heated discussion about the polarizing drug, which the president has hailed as a possible treatment for COVID-19. Risch recently wrote an op-ed in support of hydroxychloroquine, but Dr. Anthony Fauci, Dr. Deborah Birx and other experts have dismissed the anti-malarial drug being used to combat coronavirus. Risch cited various studies that backed up his pro-hydroxychloroquine stance, but the host of CNN’s “New Day” disagreed. “None of those studies that you just cited are random placebo-controlled trials, what Dr. Fauci refers to as the gold standard,” Berman said, as the CNN on-screen chyron stated “Growing body of evidence shows hydroxychloroquine is ineffective.”

Risch responded: “That’s not actually correct. The problem with those randomized controlled trials, is they were trials done on the wrong people. They were trials done on low-risk people with low risks of hospitalization and mortality. You don’t do a study of prostate cancer with women… because nobody is gonna get the outcome.” Risch said the studies were conducted on “very low-risk people who are not going to get hospitalized or die” from coronavirus. “We don’t treat those people. We treat high-risk people,” Risch said. Berman then accused Risch of being inconsistent compared to the op-ed, but the Yale epidemiologist disagreed and the interview grew contentious.


“You’re misstating what I said, I said it had to be in high-risk people,” Risch said. “As I’ve said, you have to treat the right people. You have to study the right people. Those studies did not study the right people, period. That’s the bottom line.”

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55% of them.

COVID19 Survivors Show Increased Rate Of Psychiatric Disorders (G.)

More than half of people who received hospital treatment for Covid-19 were found to be suffering from a psychiatric disorder a month later, a study has found. Out of 402 patients monitored after being treated for the virus, 55% were found to have at least one psychiatric disorder, experts from San Raffaele hospital in Milan found. The results, based on clinical interviews and self-assessment questionnaires, showed post-traumatic stress disorder (PTSD) in 28% of cases, depression in 31% and anxiety in 42%. Additionally, 40% of patients had insomnia and 20% had obsessive-compulsive (OC) symptoms. The findings will increase concerns about the psychological effects of the virus.

The paper, published on Monday in the journal Brain, Behavior and Immunity, says: “PTSD, major depression, and anxiety are all high-burden non-communicable conditions associated with years of life lived with disability. “Considering the alarming impact of Covid-19 infection on mental health, the current insights on inflammation in psychiatry, and the present observation of worse inflammation leading to worse depression, we recommend to assess psychopathology of Covid-19 survivors and to deepen research on inflammatory biomarkers, in order to diagnose and treat emergent psychiatric conditions.” The study of 265 men and 137 women found that women – who are less likely to die from Covid than men – suffered more than men psychologically.

Patients with positive previous psychiatric diagnoses suffered more than those without a history of psychiatric disorder. The researchers, led by Dr Mario Gennaro Mazza, said these results were consistent with previous epidemiological studies. They said psychiatric effects could be caused “by the immune response to the virus itself, or by psychological stressors such as social isolation, psychological impact of a novel severe and potentially fatal illness, concerns about infecting others, and stigma.” Outpatients showed increased anxiety and sleep disturbances, while – perhaps surprisingly – the duration of hospitalisation inversely correlated with symptoms of PTSD, depression, anxiety and OC.

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“Among 100 patients ages 45 to 53, “a considerable majority” – 78 – had inflammation in the heart muscle and lining…”

New Heart Problems Seen In Recovered COVID-19 Patients (R.)

More than three-quarters of recently recovered COVID-19 patients had heart muscle problems show up during magnetic resonance imaging (MRI) tests, German doctors reported on Monday in JAMA Cardiology. In some patients, the heart may be “in serious trouble as a part of COVID-19 disease,” Dr. Valentina Puntmann of University Hospital Frankfurt told Reuters. Among 100 patients ages 45 to 53, “a considerable majority” – 78 – had inflammation in the heart muscle and lining. Sixty-seven had recovered at home while 33 had required hospitalization. Half of the former patients were more than two months out since their diagnosis at the time of the MRI.


Thirty-six patients reported ongoing shortness of breath and general exhaustion, and 71 had blood markers of heart muscle damage. Compared with similar people who had not had COVID-19, the recently recovered patients’ hearts pumped more weakly and displayed other risk factors for heart failure. Puntmann suspects the abnormalities are signs of permanent problems. “While we do not have direct evidence for late consequences yet, such as the development of heart failure … it is quite possible that in a few years, this burden will be enormous based on what we have learned from other viral conditions that similarly affect the heart,” she said.

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It’s still just 2.5% that have antibodies. Not 60%. Even in Lombardy no more than 7.5%.

Italy Survey Suggests Coronavirus 6x More Prevalent Than Official Data (R.)

Almost 1.5 million people in Italy or 2.5% of the population have developed coronavirus antibodies, a figure six times more than official numbers reported, according to a survey from statistics agency Istat on Monday. The survey by Istat and the health ministry, was based on antibody tests conducted on 64,660 people. Official figures show 248,229 confirmed cases of COVID-19 patients in Italy, with 35,166 deaths. The survey found marked local differences with the northern region of Lombardy, where the epidemic first broke out in February, showing 7.5% of the population had tested positive for coronavirus antibodies compared to just 0.3% in the southern region of Sicily. The survey found almost 30% of people with antibodies were asymptomatic, pointing to the risk of the illness being spread by people unaware they were carriers.

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Easy to say when there is no vaccine.

Mutation May Have Made Virus More Vulnerable To Vaccines (R.)

A genetic mutation that made the new coronavirus more infectious may also make it more vulnerable to vaccines, researchers believe. The mutation, designated D614G, increases the number of “spikes” on the surface of the virus and makes them more stable, allowing the virus to more efficiently break into and infect cells. The mutation will not pose problems for vaccines now in clinical trials, however, because the extra spikes retain the targets for the “neutralizing antibodies” the vaccines are designed to induce.


Those targets, called receptor-binding domains, or RBDs, are the places where the spike attaches itself to the cells it infects. With more spikes, there are more RBDs for the antibodies to bind to in order to neutralize the virus. “The gain in infectivity provided by D614G came at the cost of making the virus more vulnerable to neutralizing antibodies,” the researchers wrote in a paper posted on medRxiv on Friday ahead of peer review.

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Tourism in Greece is at a very low level still. People stay home this year.

Less Than Third Of Canadians Willing To Travel Without COVID19 Vaccine (CBC)

Most Canadians and Americans aren’t rushing to travel anywhere, even within their own countries, before a COVID-19 vaccine is developed, according to a new online survey. Fewer than a third of Canadians are willing to take a flight anywhere right now whether it’s to another continent, to another province, or within their own province, according to the poll by Research Co., a Vancouver-based polling firm. Only 17 per cent of Canadian respondents were willing to take a plane to the United States. Thirty-five per cent of Americans say they are willing to take a flight within the U.S., but only 28 per cent would fly to Canada.


“The appetite for travel before a COVID-19 vaccine is readily available is low in Canada and the United States,” said Mario Canseco, president of Research Co., in a written release. “North American residents aged 55 and over, who are usually ready to explore and spend, are particularly reticent about all journeys unless inoculation is a reality.” The online poll, conducted July 1-5, surveyed representative samples of 1,000 Canadians and 1,200 Americans. It asked them their willingness to travel by five different modes of transportation: by train, by plane, by bus, by cruise ship and by ferry.

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We couldn’t have too long a period without some public investigation against Trump, could we? Got to cover the entire 4+ years. Election tampering?

Manhattan DA Probing Trump Over More Than ‘Hush-Money’ Payments (R.)

Manhattan’s district attorney on Monday suggested a grand jury subpoena for U.S. President Donald Trump’s tax returns was part of an investigation of “possibly extensive and protracted criminal conduct at the Trump Organization,” including alleged insurance and bank fraud. Manhattan District Attorney Cyrus Vance raised the scope of the probe in court papers filed in federal court in Manhattan on Monday. He is seeking to dismiss Trump’s latest challenge to the subpoena for eight years of personal and corporate tax records. Asked about the investigation at a coronavirus press briefing on Monday, Trump repeated that he believed he is the victim of a political “witch hunt,” which he said was “Democrats’ stuff” and started “even before I got in” to office.

“There is nothing that I know even about it,” he added. Trump is scheduled to respond to Vance’s motion to dismiss by Aug. 10. In a court filing last week, Trump’s lawyers argued the subpoena was “wildly overbroad” and issued in “bad faith.” Vance noted in the court papers that when the subpoena was issued last August, there were “public allegations of possible criminal activity” at the Trump Organization dating back a decade. He said public reports show a basis for each category and timeframe of documents sought from Trump’s accounting firm, Mazars USA. Trump’s argument that the subpoena is overbroad “rests on the false premise that the grand jury’s investigation is limited to so-called ‘hush-money’ payments made by Michael Cohen” on Trump’s behalf in 2016, Vance said.

Cohen pleaded guilty in 2018 to campaign violations tied to the payments to pornographic film actress Stormy Daniels and former model Karen McDougal, who claimed they had affairs with Trump, which he denies. In a footnote to Monday’s filing, Vance cited media reports on Trump’s alleged role in the hush-money scheme and on the “unorthodox strategies” he used to expand his real estate empire.

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Do unemployment benefits too.

Trump Considering Executive Action To Suspend Evictions, Payroll Tax (Hill)

President Trump said Monday that he is considering taking executive action to halt evictions and suspend payroll tax collection as coronavirus relief talks see slow progress on Capitol Hill. “I could do that if I want, and I want to do that. I don’t want people to be evicted,” Trump told reporters at a press conference Monday evening when asked about his suggestion earlier in the day that he could act unilaterally to suspend evictions. Trump noted that individuals who are evicted often go to shelters, where the coronavirus can spread easily because of crowding. “They’re thrown out viciously. It’s not their fault. It’s not their fault. It’s China’s fault,” Trump said, continuing to blame China, where the virus originated, for the pain inflicted on Americans.

Trump also asserted that he had unilateral authority to suspend the payroll tax. “I can do that also through executive order, so we’ll be talking about that,” Trump said. Trump’s admission came after conservatives Stephen Moore and Phil Kerpen penned an op-ed in the Wall Street Journal urging Trump to declare a national economic emergency and to direct the IRS to suspend collection of payroll taxes. They argued that Trump could defer payroll tax payments using the same section of the tax code used by Treasury earlier this year to postpone the 2019 tax filing deadline until mid-July. The move would amount to a deferral, though the two argued that Trump could pledge to sign a bill in the future to forgive the repayments.

[..] Trump’s remarks make clear the White House is considering unilateral actions as the administration and Congress struggle to reach a consensus on the next coronavirus relief bill. Congress in March enacted a federal moratorium on evictions through the CARES Act, though that expired roughly a week ago. Expanded unemployment insurance benefits enacted under the same bill officially expired last week. The White House has pushed for both measures to be extended quickly in a short-term deal as negotiators hammer out the details of the relief package, but Democrats have resisted a short-term measure.

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Mail-in may run reasonably well in Colorado, but here’s your first mess.

Trump Calls To ‘Re-Run’ New York House Race Over Discarded Mail-In Ballots (F.)

At a White House press conference on Monday, President Trump called to “re-run” the Democratic primary in New York’s 12th Congressional District, a race in which one candidate has refused to concede citing a large number of discarded and unreceived mail-in ballots. Rep. Carolyn Maloney (D-N.Y.) led progressive challenger Suraj Patel by just 648 votes– or 1.6%–in the Manhattan and Queens district on election night, but expanded her lead to 4 points after mail-in ballots were finished being counted in late July. Patel has refused to concede, citing reports that 9,000 of the more than 47,000 mail-in ballots sent in were invalidated for a variety of reasons and that many voters didn’t receive their mail-in ballots in time for the election.


Trump has pointed to the district, which contains Trump Tower, as a prime example of the flaws of mail-in voting, against which he has waged a fierce campaign in recent months, telling reporters on Friday, “They’re never going to have the result of that election, never the correct result.” Trump doubled-down on his criticism of the 12th District’s primary on Monday, calling it a “total disaster” and saying “nobody knows what’s happening with the ballots and the lost ballots and the fraudulent ballots I guess.” “I think I can say right here and now you have to re-run that race, because it’s a mess,” Trump added. Ultimately it would be up to New York State, not the federal government, to decide whether to re-run a race–as was the case in North Carolina’s 9th district in 2019.

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Michael Tracey spent a lot of time on the ground.

How White Radicals Hijacked Portland’s Protests (Tracey)

The overwhelmingly white, anarchist activists who populate the ongoing protests in Portland, Oregon should not be underestimated for their strategic savvy. In seizing the mantle of “Black Lives Matter”, they’ve discovered a work-around to arrogate moral cover for whatever insurrectionary upheaval they would have been ideologically committed to fomenting anyway. The Left/liberal political and media class is deeply invested in preserving the untouchable sanctity of “BLM”. So by fusing themselves in the public mind with this ambiguously-defined protest movement, or even putting themselves at the vanguard, the anarchist whites insulate themselves from the type of scrutiny that might ordinarily be prompted by activists whose ultimate goal is the overthrow of the state — and who are happy to engage in what they call “a diversity of tactics” (up to and including violence) to achieve this.

It makes for a bizarre dynamic, as Democratic Party pundits and politicians routinely describe avowed insurrectionists as nothing more than benign “peaceful protesters”. And since the protests came to be arrayed against the federal forces dispatched to Portland by Donald Trump, more conventional elements of the Left/liberal “Resistance” have made common cause with these revolutionary anarchists who regard the very essence of the US political system — not just Trump — as innately fascist and “white supremacist”. On a recent evening, for instance, an older white couple in a pair of matching “Resistance”-branded T-shirts could be spotted in attendance among the radical activists, as well as a man sporting the slogan “Ridin’ with Biden”.

To characterise what’s gone on in Portland as a traditional “protest” is a misnomer, however. Pay a visit to the area around the Federal Courthouse in Downtown after midnight and you are greeted by brigades of black-clad “Antifa” foot soldiers — geared up in full body armour, complete with industrial-grade gas masks, shields and even customised radio systems. Being overwhelmingly white, they are strategic about public presentation: the speakers appointed to address the nightly “rallies” are almost exclusively black, as “amplifying black voices” to whom whites must dutifully “listen” is a central tenet of the Summer 2020 protest ethos.

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Turley often tries to be overly correct.

Debunking The Coup d’Trump (Turley)

This week, American democracy either died or it didn’t, but you couldn’t tell from the news coverage. Some commentators and members of Congress warned that we are looking at “nothing less than a coup.” Others called for organized protests, proclaiming it is now clear that President Trump’s “anti-democratic intent was blood-chillingly real.” One leading academic called for Trump’s immediate impeachment as a fascist out to destroy our constitutional system. We have not seen such rhetoric since Aaron Burr tried to peel off the entire southwestern territory of the United States. The cause this time was an 11-word Twitter question from President Trump. Returning to his favorite subject of denouncing mail-in voting as a disaster in the making, he ended his July 30 tweet by asking, “Delay the election until people can properly, securely and safely vote?”

As I said at the time, the tweet was reckless and repugnant. However, cries of some Twitter-based coup d’état were equally unconnected to reality. I have written repeatedly about this conspiracy theory that Trump will never allow an election to occur in 2020, which has raged on liberal websites and cable news since soon after his inauguration. Trump does not have the authority to delay the election. Even if he could persuade Congress to change the date, with the implausible assistance of House Speaker Nancy Pelosi, the Constitution still stipulates that his term ends at noon on Jan. 20. In the interim, not only do citizens have to vote, but electors have to cast ballots in the Electoral College, and those votes must be certified and counted by Congress.

It is not much of a coup when you do not extend your time in office. It does not matter what Trump would like; it is what the Constitution will allow. A demand to delay the election has the same impact as Trump declaring he will change his name to “Joe Biden” if needed to claim victory, or that he will adopt Neptune’s calendar to extend his four-year term to 660 years. That is why this conspiracy theory has been so maddening. Indeed, in a column in April, I criticized former Vice President Joe Biden when he took up the theory, triggering another round of panic; Biden added a second theory to this baseless fear, suggesting that Trump’s opposition to funding the U.S. Postal Service was part of a plan to steal the election. (I later wrote an equally caustic criticism of Jared Kushner when he equivocated about Election Day.)

While I portrayed Biden back then as a virtual nut for raising this conspiracy theory, many now have proclaimed him a virtual Nostradamus following Trump’s tweet. Biden was not right — any more than Trump is today. It is no surprise — and no sign of a conspiracy — that Trump might suggest something outrageous, such as a delayed election, on Twitter. Such behavior is an established fact that occupies many of us on a daily basis. The “conspiracy theory” is to suggest that Trump could actually halt or delay the election. In fairness to Trump, he has not stated that he can unilaterally delay the election but rather has asked if we should do so.

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We have to discuss MMT, just like we have to talk about UBI. The bottom is falling out.

‘The Money Story’ Told By A Father Of MMT (Kohler)

Warren Mosler is one of but possibly the originator of modern monetary theory, but he did collaborate with Bill Mitchell of The University of Newcastle, who I interviewed in March, among other people. Warren is talking to us from The Virgin Islands where he lives on the Island of Saint Croix. But the difference with Warren Mosley is he’s not an academic, he is a fund manager, started off with a big bankers trust or a group of other banks, eventually had his own hedge fund trading bonds and essentially, put into practice his ideas that became known as modern monetary theory. I suppose the key insight is here, that what he’s talking about is actual operations of money, not theory. He’s an operational guy and the way he approaches it is in the way the monetary system actually works. He’s really clear, really worth listening to and it’s long but really worthwhile.

Warren, it occurred to me that maybe a good place to start would be the insights you started to have in the 70s, when you were a fairly young bond trader – I can’t remember who with but at some stage, BT, and I think you moved around a bit… I mean, those were the peak times of what we call monetarism and Friedmanism and so on, and I think you started then saying that the Emperor had no clothes. What exactly did you identify as the problem? “I can only remember bits and pieces from back then. I remember being a bankers trust and the Fed had raised reserve requirements and the trading managers, Allan Rogers – and he talked without moving his mouth like this, and he said, “Why I hope the Fed doesn’t just give them the money. The money supply is too high, they need to take the $10 billion or whatever it is out of the economy.”

And I remember saying – I was a fairly new trader there, I was 27 years’ old – I go, “Allan, you can’t do that, you can’t just – you know, it’s just a spreadsheet, you can’t take the money out, they have to add the money. They always add the money because otherwise it’s, in the first instance, the reserve requirements are debit and so then they either have an overdraft which is a reserve-add or you have to buy securities as a reserve-add. Since the overdraft would cause the Fed funds rate to go up 100 basis points, they don’t want that to happen, they have to just do repos or add to reserves.” He goes, “Well, they could bring back those Euro dollars, there’s 300 billion Euro dollars sloshing around.”

I go, “No there aren’t. There’s a spreadsheet over there with assets and liabilities, there’s nothing sloshing around, you can’t bring those back, that’s just empty rhetoric…” He didn’t really want to hear that. One of my clients was Cliff Viner at Phoenix Mutual, who later became my partner, and he directed my attention to an article in the Wall Street Journal by Eric Heineman, “The money supply is too high, I hope the Fed doesn’t just give them the money but takes it out.” I explain it to him and he was a client of Morgan Stanley so he called them with my answer and he calls me back with their double-talk answer and I straightened that up. He calls them back and then he calls me back and he says, “They’ve retracted their statement. They agree that you have to add the reserves.” So, I don’t know, maybe that was part of the pieces of the puzzle.

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Reuters started this. They say “suspected” Russians, which means it might have also been Martians. Their info is MI6- sourced. The UK press turns it into Russians for sure., with one report linking them to state based operations. Now suspected Russians have become Russian intelligence. Who, having gone through the trouble of hacking into a US-UK trade deal, don’t keep it for themselves to use later, but know nothing better to do with it than hand it to antisemite Jeremy Corbyn to wave around.

The British DO NOT like that Russia doesn’t find them interesting anymore. They DO like that they can sweep all their failures unnder the RussiaRussia carpet.

Papers Leaked Before UK Election In Suspected Russian Operation Were Hacked (R.)

Classified U.S.-UK trade documents leaked ahead of Britain’s 2019 election were stolen from the email account of former trade minister Liam Fox by suspected Russian hackers, two sources with direct knowledge of the matter told Reuters. The sources, who spoke on condition of anonymity because a law enforcement investigation is underway, said the hackers accessed the account multiple times between July 12 and Oct. 21 last year. They declined to name which Russian group or organisation they believed was responsible, but said the attack bore the hallmarks of a state-backed operation. Among the stolen information were six tranches of documents detailing British trade negotiations with the United States, which Reuters first reported last year were leaked and disseminated online by a Russian disinformation campaign.


British foreign minister Dominic Raab confirmed that report last month, saying that “Russian actors” had sought to interfere in the election “through the online amplification of illicitly acquired and leaked Government documents”. Reuters was not able to determine which of Fox’s email accounts was hacked and when it was first compromised. It is not clear if Fox, who is still a member of parliament but stood down as trade minister on July 24 last year in a cabinet reshuffle, was a minister at the time. A British government spokeswoman said: “There is an ongoing criminal investigation into how the documents were acquired, and it would be inappropriate to comment further at this point.” She added that the government had “very robust systems in place to protect the IT systems of officials and staff.”

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“..if ever there was a Lady Macbeth moment for wickedness to prevail, this is it.”

A Glimpse Towards November (Kunstler)

The New York Times and its media co-seditionists insist that massive mail-in voting will do just fine despite plenty of evidence that it’s already a demonstrable fiasco — for instance in the recent New York primary where two congressional district contests remain undecided months later due to ballot irregularities. The boards of election “had operational issues,” as Governor Cuomo put it, “and we have to learn from them” — another teachable moment in the Democratic Party’s valiant struggle to morally improve America strictly on its own terms. Over in Nevada, the state legislature passed a mail-in vote scheme that will send ballots out to everybody and his-or-her uncle, with no ID required, and a feature that permits ballots to be filled-out by someone other than the addressed voter.

Nice! A “ballot-harvesting” model for other states. In California, where anybody with a driver’s license is automatically registered to vote via the 2015 “New Motor Voter Act,” ballots will go out to 600,000 un-documented non-citizens who were granted licenses under a separate act (AB-60) the same year. Do you suppose all of them will conscientiously toss their ballots in the trash while California’s mighty Democratic Party machine importunes them to vote early-and-often? There’s your set-up for a 2020 election that can’t possibly be resolved, and a recipe for a Hieronymus Bosch style orgy of Lawfare litigation that would deliberately seek to confound the Federal Election Commission’s best efforts to untangle the mess — just as Lawfare is doing in the mess of a case against General Flynn — and effectively end 232 years of continuous, orderly four-year election cycles. Is that what you want?

The other index of the Democratic Party’s desperation is the ongoing emperor’s-new-clothes charade posing the effigy of Joe Biden as a serious candidate for a rather important position in government. Everybody knows that they know — and we know that they know that we all know — that Mr. Biden is sailing into a fog-bank of senility, and more measurably each day! His every staged performance is an obvious embarrassment of fumbled phrases and things forgotten. They are going to have to find a replacement. It really comes down to two figures: Bernie Sanders and Hillary Clinton. What a predicament!

[..] Hillary still owns the DNC — literally. Nobody knows how much of the Clinton Foundation’s ill-gotten moolah still underwrites the party’s national operations. The arrest of Ghislaine Maxwell, with new allegations about Bill Clinton’s capers on Epstein’s Pedo Island, is a strange twist with mystifying implications — especially the timing and the motives of those in the DOJ’s Southern District who stage-managed it. With the Clintons, intrigues always abound. But if ever there was a Lady Macbeth moment for wickedness to prevail, this is it. For now, the old warhorse is laying low on her yoga mat somewhere in the Chappaqua woods.

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“What Joe was trying to say is that he’s chosen a well-qualified candidate who will run the country ..”

Biden Says He Can’t Wait To Find Out Who He Picked For VP (Babylon Bee)

According to sources in the Biden campaign, the presidential candidate is on pins and needles waiting to see who it is he picked to run for vice president on his ticket. Campaign aides say it’s been Biden’s most anticipated event since he found out he was running for president a few weeks ago. A reporter asked Biden if he could hint about his VP pick during a brief interlude from his stay in the basement, where he was allowed to come upstairs to get some snacks. “Oh boy — I hope it’s a real classy broad,” he said as he drank straight from the milk jug. “I bet I picked somebody good and smart. A chick with class and style.


You know, in my day, dames were dames and guys were guys. None of this ‘guys becoming dolls’ and ‘dolls becoming guys’ stuff. We would go down to the hop and do the mashed potato. You know, there’s lots of good nnnn– nutrients and stuff in potatoes. Potato is a funny word.” “Po – ta – to.” “OK, Joe, let’s go,” said an aide, shoving him down into the basement. “What Joe was trying to say is that he’s chosen a well-qualified candidate who will run the country — err, I mean, help him run the country — with excellence.”

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