• Swordsmyth's Avatar
    Today, 01:50 AM
    The Israeli government discussed Sunday its readiness to accept a new wave of immigrants amid an increase of antisemitism in France, Ynet reported. Following the outcome of a government meeting, Israeli Prime Minister Benjamin Netanyahu has ordered the creation of a national program to encourage the repatriation to Israel of Jewish refugees from France. According to local media, this blueprint program will also be introduced to an inter-governmental commission on integration. More at: https://sputniknews.com/europe/201812101070541076-israel-france-migration/
    0 replies | 4 view(s)
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    Today, 01:40 AM
    Earlier this week, the FBI Metro Atlanta Child Exploitation Task Force held a sting to catch alleged sex traffickers and made multiple arrests in the process. During the sting, a high-ranking Air Force Colonel was ensnared by federal agents.The undercover sex bust unfolded Tuesday night at a Cobb County hotel at which Lt. Col. Willie Newson, 47, was arrested. According to authorities, Newson thought he was meeting a 14-year-old girl at the hotel. He was actually meeting undercover agents pretending to be a child. Georgia Department of Defense spokeswoman Desiree Bamba told AJC.com that Newson is on the command staff of Maj. Gen. Jesse T. Simmons Jr., who is the commander of the Georgia Air National Guard. Newson also was formerly the commander of the 165th Communication Flight of the 165th Airlift Wing, according to the official. “Lt. Col. Newson’s alleged actions do not reflect the values we uphold in the Georgia National Guard,” she said. As WSB-TV reports, the “undercover officer that Newson spoke with gave him the opportunity to stop communicating several times.” However, Newson continued to pursue who he thought was a 14-year-old girl. The Air Force Colonel was using a popular dating app to pursue the child. On Tuesday, Newson was arrested on multiple charges stemming from the child exploitation charges. After he was taken into custody, he immediately bailed himself out for $20,000. He is currently on leave pending the outcome of the case. “It’s upsetting to the safety of our kids, the safety of this community as a whole,” Mark Samuels, who manages the hotel where the bust took place.
    0 replies | 1 view(s)
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    Today, 01:36 AM
    In what can be described as a monumental step forward in the relentless pursuit of 9/11 truth, a United States Attorney has agreed to comply with federal law requiring submission to a Special Grand Jury of evidence that explosives were used to bring down the World Trade Centers. The Lawyers’ Committee for 9/11 Inquiry successfully submitted a petition to the federal government demanding that the U.S. Attorney present to a Special Grand Jury extensive evidence of yet-to-be-prosecuted federal crimes relating to the destruction of three World Trade Center Towers on 9/11 (WTC1, WTC2 and WTC7). After waiting months for the reply, the U.S. Attorney responded in a letter, noting that they will comply with the law. “We have received and reviewed The Lawyers’ Committee for 9/11 Inquiry, Inc.’s submissions of April 10 and July 30, 2018. We will comply with the provisions of 18 U.S.C. § 3332 as they relate to your submissions,” U.S. Attorney Geoffrey Berman stated. This letter from the U.S. Attorney was signed by Michael Ferrara and Ilan Graff, Chiefs, Terrorism and International Narcotics Unit. As the Lawyers’ Committee for 9/11 Committee points out, the U.S. Attorney’s letter does not spell out the steps that will be taken to comply, but 18 U.S.C. § 3332 is clear as to what these steps must be. This law states: “ny such attorney receiving information concerning such an alleged offense from any other person shall, if requested by such other person, inform the grand jury of such alleged offense, the identity of such other person, and such attorney’s action or recommendation.” This law also states that “(a) It shall be the duty of each such grand jury impaneled within any judicial district to inquire into offenses against the criminal laws of the United States alleged to have been committed within that district.” To illustrate just how historic this response is, below is a summary of the information presented to the federal government via the petition. It does not mince words and details the overwhelming evidence indicating the use of explosives in bringing down the twin towers as well as tower 7. The Lawyers’ Committee’s April 10th 52-page original Petition was accompanied by 57 exhibits and presented extensive evidence that explosives were used to destroy three WTC buildings. That evidence included independent scientific laboratory analysis of WTC dust samples showing the presence of high-tech explosives and/or incendiaries; numerous first-hand reports by First Responders of explosions at the WTC on 9/11; expert analysis of seismic evidence that explosions occurred at the WTC towers on 9/11 prior to the airplane impacts and prior to the building collapses; and expert analysis by architects, engineers, and scientists concluding that the rapid onset symmetrical near-free-fall acceleration collapse of three WTC high rise buildings on 9/11 exhibited the key characteristics of controlled demolition. The Lawyers’ Committee’s July 30th Amended Petition addresses several additional federal crimes beyond the federal bombing crime addressed in the original Petition. The Lawyers’ Committee concluded in the petitions that explosive and incendiary devices preplaced at the WTC were detonated causing the complete collapse of the WTC Twin Towers on 9/11 and increasing the tragic loss of life. Attorney Mick Harrison, Litigation Director, stated: “The failure of our government to diligently investigate this disturbing evidence has contributed to the erosion of trust in our institutions. The Lawyers’ Committee felt it was our duty as public citizens to submit this evidence to the U.S. Attorney for submission to the Special Grand Jury.”
    0 replies | 2 view(s)
  • Swordsmyth's Avatar
    Today, 01:30 AM
    On Thursday, it was reported that Bill and Hillary Clinton may be going away for good, largely due to the fact that America, as a whole, are sick and tired of their criminal enterprise and profiting themselves at the people’s expense. Now, according to Mac Slavo, “tickets to see them live and hear them blab about their lives are selling for the cost of a Big Mac meal at McDonald’s.” Now, it appears that the connection of the Chinese and the Clintons is relevant once again, and their time is running out in a different way. First, Reuters reports: U.S. prosecutors want a top executive of China’s Huawei Technologies, the world’s largest supplier of telecommunications network equipment, to face charges of fraud linked to the skirting of Iran sanctions, a Vancouver court heard on Friday. Huawei Chief Financial Officer Meng Wanzhou, 46, daughter of the founder of the company, which U.S. intelligence agencies allege is linked to China’s government, was arrested in Canada on Dec. 1 at the request of the United States. U.S. prosecutors want to extradite Meng to face accusations that she misrepresented Huawei’s relationship to a company they said had transacted business in Iran despite U.S. sanctions, according to evidence read in a bail hearing in court on Friday. Understand that Bill Clinton faced a significant Chinese scandal of selling technology to them and covering it up under the Monica Lewinski scandal, but don’t think the Clintons ties to the Chinese went away back in the 1990s. Those ties continued on into her tenure as Secretary of State under the usurper Barack Hussein Obama Soetoro Sobarkah. At that time, she secured her brother’s financial interests in Hong Kong, which included executives from Huawei, who received visas. The visas were used to spy on the US. Real Clear Politics reported in April 2015: In describing the “latest imbroglio involving Hillary Clinton’s brother Tony Rodham,” Purdum notes Tony’s efforts to get a visa approved for a foreign investor in Clinton friend and Virginia Gov. Terry McAuliffe’s company while his sister was secretary of state. But he fails to mention that it was Bill Clinton himself who got the Chinese investor together with Rodham and McAuliffe at the Clinton Global Initiative in Hong Kong in 2008, just days after Hillary’s nomination as secretary. Nor does the article by Purdue tell the full story about the cash-for-visa scandal involving Tony Rodham. At least one of the visa applications was for a vice president of Huawei Technologies, a Chinese telecom company that has been accused of spying on American industries, pirating American technologies and providing crucial equipment to our enemies. Huawei has been trying for years to do business in the U.S., but we won’t let it in because of its history of cyber spying and reported closeness to the Chinese military. But Tony was all too happy to help Huawei.
    23 replies | 577 view(s)
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    Today, 12:27 AM
    The past couple weeks pundits from all over the financial community have been chiming in on the yield curve inversion. As a recap: yield curve inversion is kinda this upside down world where the front months of a bond are priced lower (higher yield) than the longer dated maturities. It's bass-ackward because we'd expect to be paid more for duration risk, not less. Ok, so what? What does that mean? In short, the market expects a recession. That's why it's inverted. Lower growth means lower rates. A recession would bring the Fed to the "easing" table and rates would plunge again. This is why further out the duration curve bonds are now being priced at a lower yield than shorter duration. Yield inversion. Got it? Certainly bond traders are smart. Smarter than equity traders. Disagree all you like, that's just the way it is so this warrants our attention. Plus, it's a truism in the investment world that it's never different this time. And just look at how investors have been educated. Most any bond trader still working the tape today has experienced a near linear path which is another reason returning to this thesis is a very easy one to return to. Don't believe me? Take a look. It's been a one way street, and going up against it has proven more painful than stepping on a Lego in the night on the way to the loo. Just ask any bond trader who's been short in the last couple of decades. Horrible stuff. Putting a recession aside, I think there is a bigger problem for investors to be chewing their fingernails on. The implications of more easy monetary policy. Returning to our truism "it's never different this time". Something else that's equally "never different this time" is that governments never pay off unsustainable debt. Nevaaahhh!
    3 replies | 120 view(s)
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    Today, 12:06 AM
    The White House wants to stay the course in Yemen even as the Senate is set to push back against US military support to the Saudi-led bombing campaign. But now a bombshell report reveals the Pentagon has been fueling Saudi and UAE jets free of charge due to "errors in accounting where DoD failed to charge" according to US defense officials. The huge significance is summarized in the opening lines of The Atlantic report which broke the story over the weekend: President Donald Trump, who repeatedly complains that the United States is paying too much for the defense of its allies, has praised Saudi Arabia for ostensibly taking on Iran in the Yemen war. It turns out, however, that U.S. taxpayers have been footing the bill for a major part of the Saudi-led campaign, possibly to the tune of tens of millions of dollars. For the entire three-and-a-half years of the program, the Pentagon never had an official servicing agreement in place with the Saudis and further never informed Congress. The vital refueling role that the US military has played in the war goes back to March 2015 and is reported to be "enormously expensive". The recipient country, in this case the Saudis, is required by law to pay the costs but the Pentagon now admits "they in fact had not been charged adequately" in an official DoD letter obtained by The Atlantic. The Pentagon is now “currently calculating the correct charges” but it's unclear if the missing funds going back years — footed by the American taxpayer — will ever be obtained especially as the DoD doesn't even know what it's owed.
    1 replies | 48 view(s)
  • Swordsmyth's Avatar
    Today, 12:05 AM
    The White House wants to stay the course in Yemen even as the Senate is set to push back against US military support to the Saudi-led bombing campaign. But now a bombshell report reveals the Pentagon has been fueling Saudi and UAE jets free of charge due to "errors in accounting where DoD failed to charge" according to US defense officials. The huge significance is summarized in the opening lines of The Atlantic report which broke the story over the weekend: President Donald Trump, who repeatedly complains that the United States is paying too much for the defense of its allies, has praised Saudi Arabia for ostensibly taking on Iran in the Yemen war. It turns out, however, that U.S. taxpayers have been footing the bill for a major part of the Saudi-led campaign, possibly to the tune of tens of millions of dollars. For the entire three-and-a-half years of the program, the Pentagon never had an official servicing agreement in place with the Saudis and further never informed Congress. The vital refueling role that the US military has played in the war goes back to March 2015 and is reported to be "enormously expensive". The recipient country, in this case the Saudis, is required by law to pay the costs but the Pentagon now admits "they in fact had not been charged adequately" in an official DoD letter obtained by The Atlantic. The Pentagon is now “currently calculating the correct charges” but it's unclear if the missing funds going back years — footed by the American taxpayer — will ever be obtained especially as the DoD doesn't even know what it's owed.
    485 replies | 30606 view(s)
  • Swordsmyth's Avatar
    Yesterday, 11:50 PM
    Trump needs to kick over the table and start the prosecutions just to avoid being railroaded after he leaves office in 2020 or 2024.
    2 replies | 45 view(s)
  • Swordsmyth's Avatar
    Yesterday, 11:15 PM
    There IS a rational explanation: DEMONcrats
    19 replies | 128 view(s)
  • Swordsmyth's Avatar
    Yesterday, 10:58 PM
    The state-run Syrian Arab News Agency (SANA) issued a report on Sunday saying Syrian air defences had intercepted enemy targets around Damascus international airport, but later in the day said the attack had not happened."Our air defences intercepted enemy aerial targets in the vicinity of Damascus international airport in southern Damascus," SANA said in its initial report. The agency later removed the report from its website. Later still, it quoted a source at the Damascus international airport as saying "there was no attack on the airport and the air traffic is normal". The Syrian Observatory for Human rights, a UK-based war monitor, said however there had been firing near the airport. More at: https://www.yahoo.com/news/syrian-air-defenses-intercept-enemy-targets-around-damascus-195641244.html
    81 replies | 2379 view(s)
  • Swordsmyth's Avatar
    Yesterday, 10:40 PM
    According to the website USAspending.gov, the US Drug Enforcement Administration (DEA) awarded a contract to an American defense company to build a vacuum cleaner for surveillance purposes. A California-based company called Special Services Group, LLC. received a $42,595 contract on November 28 to manufacture a "custom Shop Vac concealment with Canon M50B.” The program completion time is one month, the DEA expects delivery of the spy vacuum on January 01. Canon describes the high-sensitivity VB-M50B Network Camera as a "PTZ network camera” that “captures video with remarkable color and clarity, even in very low-light environments.” Depending on the retailer, the camera sells for $3,000 to $3,500; the contract summary specifies the spy vacuum is being funded by the DEA’s Office of Investigative Technology, as Quartz first reported this story on December 06. The company behind the spy vacuum: Special Services Group “is a leading supplier of technical solutions for law enforcement, military and government agencies in the United States of America,” its website says. “Due to the critical missions of our customers, we have chosen not to place our product information on our website. Please use the contact section of our site to request more information.” So, what did social media have to say about spy vacuums? Over $40,000 for a $200 shop vac and $3400 camera. I need to get into government contracting.
    0 replies | 28 view(s)
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    Yesterday, 10:36 PM
    An explosion at Popocatepetl Volcano in Mexico sent a a stream of ash into the sky on December 9. More at: https://news.yahoo.com/popocatepetl-volcano-eruption-creates-impressive-170133751.html
    1 replies | 222 view(s)
  • Swordsmyth's Avatar
    Yesterday, 10:30 PM
    Brian4Liberty and the rest of the mods acptulsa and TheCount seem to be conspiring to set me up and try to get me banned, please take note.
    430 replies | 8370 view(s)
  • Swordsmyth's Avatar
    Yesterday, 10:28 PM
    President Donald Trump had not been informed about the arrest of Chinese telecom giant Huawei's chief financial officer when he dined with China's Xi Jinping, a top White House official said Sunday. "He did not know and he had no reaction afterwards," White House economic adviser Larry Kudlow said on "Fox News Sunday," denying reports Trump was "livid" that the arrest took place while he was at dinner with Xi. "He didn't know. I will just state that unequivocally," Kudlow repeated. "He learned way later, by the way. Way later." US National Security Advisor John Bolton initially told public radio network NPR that the White House had been warned about the arrest but, according to CBS, a spokesman for him later contradicted that assertion. More at: https://news.yahoo.com/trump-did-not-know-huawei-arrest-during-xi-171446473.html
    23 replies | 577 view(s)
  • Swordsmyth's Avatar
    Yesterday, 10:25 PM
    Look at the time stamps dummy, I posted with the quote feature 2 minutes before he edited his comment and you came along 4 minutes after and made a fool of yourself. Or is this a coordinated attack on me? It is a stupid one if it is because I would have no reason to add the word "dark".
    430 replies | 8370 view(s)
  • Swordsmyth's Avatar
    Yesterday, 10:19 PM
    LOL Just what would that be? He edited his comment if you are trying to claim that I changed it:
    430 replies | 8370 view(s)
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    Yesterday, 10:17 PM
    Leaders of Gulf Arab countries, including those boycotting Qatar, met on Sunday in Saudi Arabia's capital for a regional summit, a gathering that Qatar's ruling emir choose not to attend amid the dispute.The absence of Qatar's Sheikh Tamim bin Hamad Al Thani, as well as Qatar's recent decision to withdraw from the Saudi-dominated OPEC oil cartel, underlined the simmering crisis facing the Gulf Cooperation Council. Despite mediation efforts by Kuwait, the gap remains between others in the six-nation GCC, an alliance formed in 1981 in part to offer a counterbalance to Iran, and Qatar — countries that are all American allies. The United States, which under President Donald Trump withdrew from the Iran nuclear deal, also has been unable to mend relations even as it wants a unified front for its high-pressure campaign targeting Tehran. Saudi King Salman greeted GCC leaders Sunday as they descended down a golden escalator at a Riyadh air base and never mentioned Qatar in his remarks to the summit. Kuwait's ruler, the 89-year-old Sheikh Sabah Al Ahmad Al Sabah, did discuss Qatar, warning of internal divisions threatening the GCC and urging its members to stop a "media war." "The most serious challenge we are facing is the Gulf dispute and its continuation which is now causing a serious threat to our unity and affecting our citizens' interests," Sheikh Sabah said. "This has also caused the rest of the world to look at us as an entity with cracks forming in its unity, and that we can no longer guarantee the interests of other nations as we could when our unity was stronger." Qatar's Sheikh Tamim sent Sultan bin Saad al-Muraikhi, minister of state for foreign affairs, to represent the country. Al-Muraikhi offered no comments during the open session of the GCC meeting. The sheikh had attended last year's GCC meeting in Kuwait, where nations boycotting Qatar sent lower-level representatives. Bahrain's Foreign Minister Khalid Al Khalifa tweeted that Sheikh Tamim should have "been there at the summit."
    9 replies | 181 view(s)
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    Yesterday, 10:13 PM
    Saudi Arabia's foreign minister on Sunday ruled out the extradition of suspects in the murder of journalist Jamal Khashoggi, after Istanbul's chief prosecutor filed warrants for the arrest of two former senior Saudi officials. "We don't extradite our citizens," Saudi Foreign Minister Adel al-Jubeir said when asked about the arrest warrants. He was speaking at a news conference at a Gulf Arab summit in Riyadh. More at: https://news.yahoo.com/saudi-arabia-does-not-extradite-citizens-foreign-minister-173425622.html
    243 replies | 6564 view(s)
  • Swordsmyth's Avatar
    Yesterday, 10:08 PM
    Fake News.
    430 replies | 8370 view(s)
  • Swordsmyth's Avatar
    Yesterday, 09:55 PM
    A load of garbage. False premise stacked on false premise like a house of cards, it is too tangled to to properly dissect and so like the Gordian knot should simply be destroyed.
    1 replies | 36 view(s)
  • Swordsmyth's Avatar
    Yesterday, 09:30 PM
    Worsening costs, taxation, tech transfer and regulation prompt foreign-owned businesses to throw in the towel By James T. Areddy Dec. 7, 2018 10:37 a.m. ET SHANGHAI—Fifteen years ago in California, a tall technology geek named Steve Mushero started writing a book that predicted the American dream might soon “be found only in China.” Before long, Mr. Mushero moved himself to Shanghai and launched a firm that Amazon.com Inc. and Alibaba Group Holding Ltd. certified as a partner to serve the world’s biggest internet market. These days, the tech pioneer has hit a wall. He’s heading back to Silicon Valley where he sees deeper demand for his know-how in cloud computing. “The future’s not here,” said the 52-year-old. For years, American entrepreneurs saw a place in which they would start tech businesses, build restaurant chains and manage factories, making potentially vast sums in an exciting, newly dynamic economy. Many mastered Mandarin, hired and trained thousands in China, bought houses, met their spouses and raised bilingual children. Now disillusion has set in, fed by soaring costs, creeping taxation, tightening political control and capricious regulation that makes it ever tougher to maneuver the market and fend off new domestic competitors. All these signal to expat business owners their best days were in the past. The Trump administration is making a hard-nosed challenge to China using trade tariffs, investment controls and prosecution of technology thieves, and many in American business are cheering, if silently, having soured on the market after years of trying. At a curry luncheon hosted a few times a year by Steven Bourne, a law professor and 13-year resident of Shanghai from Massachusetts, guests these days chew over shrimp samosas and exit plans. On a recent Friday, a Swedish maker of beauty products said he would move his family to Hong Kong, where regulations are clearer and taxes are lower. An American art dealer who suffered when his rich clients got pinched by currency controls was headed to California. Another, Jack Tung, a 47-year-old who grew up near Philadelphia and had the costumes made for Hollywood movies like “The Painted Veil” and “The Great Wall,” said absorbing a sixfold rise in tailoring rates since 2003 changed China into a high-cost, low-profit, stressful hardship. He lost the feeling “it’s all happening” in Shanghai and will try Thailand.
    679 replies | 18784 view(s)
  • Swordsmyth's Avatar
    Yesterday, 09:23 PM
    Worsening costs, taxation, tech transfer and regulation prompt foreign-owned businesses to throw in the towel By James T. Areddy Dec. 7, 2018 10:37 a.m. ET SHANGHAI—Fifteen years ago in California, a tall technology geek named Steve Mushero started writing a book that predicted the American dream might soon “be found only in China.” Before long, Mr. Mushero moved himself to Shanghai and launched a firm that Amazon.com Inc. and Alibaba Group Holding Ltd. certified as a partner to serve the world’s biggest internet market. These days, the tech pioneer has hit a wall. He’s heading back to Silicon Valley where he sees deeper demand for his know-how in cloud computing. “The future’s not here,” said the 52-year-old. For years, American entrepreneurs saw a place in which they would start tech businesses, build restaurant chains and manage factories, making potentially vast sums in an exciting, newly dynamic economy. Many mastered Mandarin, hired and trained thousands in China, bought houses, met their spouses and raised bilingual children. Now disillusion has set in, fed by soaring costs, creeping taxation, tightening political control and capricious regulation that makes it ever tougher to maneuver the market and fend off new domestic competitors. All these signal to expat business owners their best days were in the past. The Trump administration is making a hard-nosed challenge to China using trade tariffs, investment controls and prosecution of technology thieves, and many in American business are cheering, if silently, having soured on the market after years of trying. At a curry luncheon hosted a few times a year by Steven Bourne, a law professor and 13-year resident of Shanghai from Massachusetts, guests these days chew over shrimp samosas and exit plans. On a recent Friday, a Swedish maker of beauty products said he would move his family to Hong Kong, where regulations are clearer and taxes are lower. An American art dealer who suffered when his rich clients got pinched by currency controls was headed to California. Another, Jack Tung, a 47-year-old who grew up near Philadelphia and had the costumes made for Hollywood movies like “The Painted Veil” and “The Great Wall,” said absorbing a sixfold rise in tailoring rates since 2003 changed China into a high-cost, low-profit, stressful hardship. He lost the feeling “it’s all happening” in Shanghai and will try Thailand.
    60 replies | 1237 view(s)
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    Yesterday, 08:50 PM
    A new Android app has launched with the focus of allowing Muslims to report individuals who commit blasphemy, or insult Islam. No, this is not a joke. The app, “Smart Pakem”, which launched in Indonesia last month at the request of the Indonesian government, will allow users and government officials to uphold Sharia law and target and report people who hold “misguided” beliefs in violation of Islamic law, which forbids insults of Islam, insults against the Prophet Mohammed, or the recognition of any other religion besides Islam. Rajan Anandan, who serves as the VP of Google in south-east Asia, has not shown any resistance to the app, which is available in the Google app store. The National Secular Society (NSS) has since written to Anadan requesting the Google not stock the app in the app store, arguing that the app will have negative consequences for religious minorities and will further minimize freedom of expression. According to Human Rights Watch, 125 people were convicted of blasphemy in Indonesia between 2004 and 2014. 23 additional people have been convicted since 2014. Stephen Evans, who serves as the chief executive of NSS said said Google’s decision to stock the Sharia app was “incongruous with Google’s mission statement” and “runs directly contrary to the democratic ideals which Google says it stands for”. Evans also said the app will “normalize restrictions on freedom of expression in Indonesia and elsewhere”.
    2 replies | 52 view(s)
  • Swordsmyth's Avatar
    Yesterday, 08:26 PM
    The apocalyptic fires that hit California last month have left observers scratching their heads and wondering how destruction on that scale could be possible – and how much it will cost in the future if the causes aren’t addressed immediately. This morning’s Wall Street Journal concludes that 1) the problems aren’t being addressed and 2) this failure is going to cost a fortune that no government is prepared to cover (emphasis added below). Why Californians Were Drawn Toward the Fire Zones Building codes, state grants and low insurance rates have encouraged people to flee expensive cities for their dangerously fire-prone fringes. A Nov. 15 view in Paradise, Calif., above, shows charred remains of houses among the trees after the Camp Fire burned down more than 11,000 homes. PHOTO: CAROLYN COLE/LOS ANGELES TIMES/GETTY IMAGES The historically deadly wildfires that have roared through California this fall, and a string of similarly destructive ones over the past two years, are boosting calls to do more to slow climate change. But another underlying problem has contributed to the fires’ tragic damage: For decades, California, supposedly the greenest of states, has artificially lowered the cost of encroaching on nature by living in the woods. Permissive building codes, low insurance rates and soaring taxpayer spending on firefighting and other services have provided an economic framework that has encouraged people to flee the state’s increasingly expensive cities for their leafy fringes. The forested exurbs, including places once thought too hilly or too dry to develop safely, have offered comparatively affordable living with jaw-dropping views. The upshot: More houses have been packed into the fire-prone border between civilization and forest—known among planners as the “wildland-urban interface,” or WUI—in California than in any other state. This problem isn’t restricted to California’s woodland. Along the coasts, loose building standards and easy federal flood insurance have socialized the costs of building in the path of worsening storms and rising sea levels. It is time, in the parlance of classical economics, to internalize the long-externalized costs of building in the trees or by the beach. California, both a bellwether of aggressive environmental policy and a pioneer of suburban sprawl, typifies the problem. For years, Cal Fire, the state wildfire-fighting agency, has been spending increasing sums to put out wildfires, as has the U.S. Forest Service. Already by 2006, according to an audit, most of the money the forest service was spending to put out large fires was “directly linked to protecting private property” in the wildland-urban interface. Meanwhile, at public cost, government has been encouraging more development by pushing infrastructure—roads, utilities, rescue services—ever farther into the forest.
    2 replies | 48 view(s)
  • Swordsmyth's Avatar
    Yesterday, 08:18 PM
    There is a time and a place for everything, including speaking ill of the dead.
    133 replies | 2336 view(s)
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    Yesterday, 08:16 PM
    One day after China reported the worst trade data in over half a year, with the trade war with Washington finally hitting exports hard, which rose only 5% in November or half the Wall Street forecast of 9.9%... ...while import growth tumbled to just 3%, far below the 14% Wall Street estimate even as Chinese imports from the US plunged 25% in November from a year earlier, the single biggest monthly decline since January 2017 when China's economy and capital markets were reeling in the aftermath of the Yuan devaluation and Shanghai Composite bubble bursting... ... on Sunday the bad news continued, when Beijing reporting that CPI inflation slowed to just 2.2% yoy in November, below the 2.4% estimate and down from 2.5% in October, while PPI inflation decelerated further to 2.7% yoy in November, from 3.3% in October. In sequential terms, headline CPI prices declined 1.5% in November, down notably from an increase of 3.5% in October.
    679 replies | 18784 view(s)
  • Swordsmyth's Avatar
    Yesterday, 08:16 PM
    One day after China reported the worst trade data in over half a year, with the trade war with Washington finally hitting exports hard, which rose only 5% in November or half the Wall Street forecast of 9.9%... ...while import growth tumbled to just 3%, far below the 14% Wall Street estimate even as Chinese imports from the US plunged 25% in November from a year earlier, the single biggest monthly decline since January 2017 when China's economy and capital markets were reeling in the aftermath of the Yuan devaluation and Shanghai Composite bubble bursting... ... on Sunday the bad news continued, when Beijing reporting that CPI inflation slowed to just 2.2% yoy in November, below the 2.4% estimate and down from 2.5% in October, while PPI inflation decelerated further to 2.7% yoy in November, from 3.3% in October. In sequential terms, headline CPI prices declined 1.5% in November, down notably from an increase of 3.5% in October.
    60 replies | 1237 view(s)
  • Swordsmyth's Avatar
    Yesterday, 08:11 PM
    Since June 2018, China has been loosening monetary and fiscal policies in an attempt to refloat the sinking red ponzi amid the shadow banking system's deflation. As the following chart from Goldman Sachs shows, it is not working as the Current Activity Indicator continues to slump... It seems no matter what China throws at it, the economy (or the market) won't behave as the text-books say it should. The crackdown on the shadow-banking system is hard to overcome it seems with even the most finely tuned hammer of monetary policy... As Goldman's Andrew Tilton (Chief Asia Economist) suggests: "...two challenges brought us here. Internally, policymakers’ efforts to constrain the growth of shadow banking and reduce financial risks worked almost too well. Financial regulations introduced in 2017 and early 2018 led to a meaningful contraction in shadow banking, which slowed overall credit growth and tightened credit conditions, particularly for private companies.
    679 replies | 18784 view(s)
  • Swordsmyth's Avatar
    Yesterday, 08:10 PM
    Since June 2018, China has been loosening monetary and fiscal policies in an attempt to refloat the sinking red ponzi amid the shadow banking system's deflation. As the following chart from Goldman Sachs shows, it is not working as the Current Activity Indicator continues to slump... It seems no matter what China throws at it, the economy (or the market) won't behave as the text-books say it should. The crackdown on the shadow-banking system is hard to overcome it seems with even the most finely tuned hammer of monetary policy... As Goldman's Andrew Tilton (Chief Asia Economist) suggests: "...two challenges brought us here. Internally, policymakers’ efforts to constrain the growth of shadow banking and reduce financial risks worked almost too well. Financial regulations introduced in 2017 and early 2018 led to a meaningful contraction in shadow banking, which slowed overall credit growth and tightened credit conditions, particularly for private companies.
    60 replies | 1237 view(s)
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    Sure it does. The folks with solid red deserve it. If you can point me to one who doesn't, then I'll try to help them out.
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Never attempt to teach a pig to sing; it wastes your time and annoys the pig.

Robert Heinlein

Give a man an inch and right away he thinks he's a ruler

Groucho Marx

I love mankind…it’s people I can’t stand.

Linus, from the Peanuts comic

You cannot have liberty without morality and morality without faith

Alexis de Torqueville

Those who fail to learn from the past are condemned to repeat it.
Those who learn from the past are condemned to watch everybody else repeat it

A Zero Hedge comment

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  1. lilymc lilymc is offline

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    lilymc
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