• Swordsmyth's Avatar
    Today, 02:12 AM
    The first time we heard about the British government's "Operation Temperer" was shortly after the dreadful terrorist explosion in Manchester in June 2017, when Prime Minister Theresa May declared “enough is enough”, and demanded a review of the UK's counter-terrorism strategy. As Brandon Smith noted at the time, the deployment of over 5000 British troops at strategic locations by Theresa May is all part of a plan established in 2015 called “Operation Temperer”. The plan calls for the deployment of troops within the UK border in response to “major terrorist threats”. As The Mail on Sunday uncovered at the time: Whitehall officials had kept it under wraps because it contained such sensitive information. Theresa May, who made the decision, makes her the first Prime Minister to use a new plan for a show of force in the face of major terrorist threats. Mrs May said it would be the decision of police chiefs to decide where to deploy the military, though they are most likely to be used to guard top tourist attractions, airports and railway stations and sporting venues. David Cameron had opposed controversial power because he didn't want the UK to appear like it had lost control and was imposing martial law. Essentially, it is a martial law program that acts incrementally, rather than overtly. Once implemented, Temperer would be difficult to reverse. As UK military chiefs warned when the operation was publicly exposed, troops would likely not be pulled back after commitment unless the terror threat was “reduced”, leaving the definition of the “threat level” open for rather broad interpretation. Which makes the latest news even more concerning as The Daily Mail reports, plans have been drawn up by the military for Operation Temperer, which, as we noted above is designed to help police on the streets in the threat of terrorism, to be enacted in the event of a no-deal Brexit scenario.
    0 replies | 15 view(s)
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    Today, 12:10 AM
    Nearly 4,000 people were evacuated on Monday from areas around Guatemala's Fuego volcano, which began violently erupting overnight, the country's disaster agency Conred said.The volcano spewed out dangerous flows of fast-moving clouds of hot ash, lava and gas early Monday and more than 2,000 people had taken refuge in shelters so far, officials from the agency told reporters. There were no immediate reports of injuries. More dangerous flows of hot ash and lava could be expelled, said Juan Pablo Oliva, the head of the country's seismological, volcanic and meteorological institute Insivumeh. In June, explosive flows from Fuego killed more than 190 people. This is the fifth eruption so far this year of the 3,763-meter (12,346-feet) volcano, one of the most active in Central America, about 19 miles (30 km) south of Guatemala City. https://www.yahoo.com/news/thousands-evacuated-guatemalas-fuego-volcano-erupts-154407423.html
    0 replies | 28 view(s)
  • Swordsmyth's Avatar
    Yesterday, 11:47 PM
    Bloomberg reports that debt cross-guarantees by Chinese firms have left the world’s third-largest bond market prone to contagion risks, which has made it "all the tougher for officials to follow through on initiatives to sustain credit flows", i.e., the threat of growing threat of unexpected cross- defaults is what is keeping China's credit pipeline clogged up and has resulted in the collapse in new credit creation. The risk of cross-defaults is what also appears to be behind the recent official directive for banks to boost lending to private corporations. As Bloomberg explains, private companies have long had to be innovative in getting financing in Communist-run China, where state-owned enterprises have had preferential access to the banking system. Extending guarantees to each other helped businesses boost some lenders’ confidence enough to extend funding to them. While this was not a concern when times were good, now that China is going through a record run of debt defaults, these often opaque and hard-to-follow links pose the risk of "a daisy chain of distress" with price moves are reflecting that. Take, for example, tire-maker China Wanda Group which has seen the yield on its bonds due in 2021 soar almost threefold, from 8% to over 20% since end-September, thanks to having provided guarantees to iron-wire maker Shandong SNTON Group Co., one of whose units failed to repay a bank loan two months ago. “Large cross-guarantees could set off a chain effect that could quickly spread from one firm to another,” said Clifford Kurz, a credit analyst from S&P Global Ratings in Hong Kong, who probably rues the day he was tasked with figuring out which company is linked to which other company in cross-default obligations. And there's a lot of it: like pledged shares, where private companies and executives pledged corporate shareholdings as collateral for bank loans and which emerged as a major risk factor for China's financial system in late October when a flood of margin calls sparked a "liquidity crisis" and panic selling in Chinese stocks and prompted the regulators and local authorities to demand that banks ease restrictions on pledged shares, cross guarantees are a Chinese phenomenon less familiar in global markets. Last year, cross-guarantees in China amounted to nearly 4 trillion yuan ($575 billion), the China Securities Journal reported in October 2017. Which brings us back to China Wanda and Shandong SNTON, which are both based in the eastern province of Shandong, which has an economy of about $1 trillion and benefited from a dynamic private sector; however that growth now appears to have ground to a halt, and according to Kurz, slides in a number of corporate bonds across the province “may suggest that investors are seeking to avoid the risks posed by such cross-guarantees -- regardless of the underlying performance of such companies." And with a record pace of 83.4 billion yuan of defaults this year, both share pledging and cross guarantees have found themselves to topic of intense scrutiny
    490 replies | 13648 view(s)
  • Swordsmyth's Avatar
    Yesterday, 11:47 PM
    Bloomberg reports that debt cross-guarantees by Chinese firms have left the world’s third-largest bond market prone to contagion risks, which has made it "all the tougher for officials to follow through on initiatives to sustain credit flows", i.e., the threat of growing threat of unexpected cross- defaults is what is keeping China's credit pipeline clogged up and has resulted in the collapse in new credit creation. The risk of cross-defaults is what also appears to be behind the recent official directive for banks to boost lending to private corporations. As Bloomberg explains, private companies have long had to be innovative in getting financing in Communist-run China, where state-owned enterprises have had preferential access to the banking system. Extending guarantees to each other helped businesses boost some lenders’ confidence enough to extend funding to them. While this was not a concern when times were good, now that China is going through a record run of debt defaults, these often opaque and hard-to-follow links pose the risk of "a daisy chain of distress" with price moves are reflecting that. Take, for example, tire-maker China Wanda Group which has seen the yield on its bonds due in 2021 soar almost threefold, from 8% to over 20% since end-September, thanks to having provided guarantees to iron-wire maker Shandong SNTON Group Co., one of whose units failed to repay a bank loan two months ago. “Large cross-guarantees could set off a chain effect that could quickly spread from one firm to another,” said Clifford Kurz, a credit analyst from S&P Global Ratings in Hong Kong, who probably rues the day he was tasked with figuring out which company is linked to which other company in cross-default obligations. And there's a lot of it: like pledged shares, where private companies and executives pledged corporate shareholdings as collateral for bank loans and which emerged as a major risk factor for China's financial system in late October when a flood of margin calls sparked a "liquidity crisis" and panic selling in Chinese stocks and prompted the regulators and local authorities to demand that banks ease restrictions on pledged shares, cross guarantees are a Chinese phenomenon less familiar in global markets. Last year, cross-guarantees in China amounted to nearly 4 trillion yuan ($575 billion), the China Securities Journal reported in October 2017. Which brings us back to China Wanda and Shandong SNTON, which are both based in the eastern province of Shandong, which has an economy of about $1 trillion and benefited from a dynamic private sector; however that growth now appears to have ground to a halt, and according to Kurz, slides in a number of corporate bonds across the province “may suggest that investors are seeking to avoid the risks posed by such cross-guarantees -- regardless of the underlying performance of such companies." And with a record pace of 83.4 billion yuan of defaults this year, both share pledging and cross guarantees have found themselves to topic of intense scrutiny
    53 replies | 908 view(s)
  • Swordsmyth's Avatar
    Yesterday, 11:07 PM
    Maybe this time it will lead to the breakup of both major parties.
    21 replies | 277 view(s)
  • Swordsmyth's Avatar
    Yesterday, 10:57 PM
    The prospect for peace - or at least a lasting ceasefire - is advancing rapidly following a surprise weekend proposal by Yemen's Houghis to halt all attacks on Saudi coalition forces. On Sunday the head of Yemen's Iran-backed Houthi Supreme Revolutionary Committee Mohammed Ali al-Houthi, said "We are willing to freeze and stop military operations" — somethingwhich now appears to have taken effect, according to a breaking Reuters report. In the biggest turning point in the war which has raged since 2015, Reuters confirms: Houthi rebels in Yemen said on Monday they were halting drone and missile attacks on Saudi Arabia, the United Arab Emirates and their Yemeni allies, responding to a demand from the United Nations. “We announce our initiative...to halt missile and drone strikes on the countries of aggression,” an official Houthi statement reads. Crucially, it appears this halt in fighting was precipitated by a Saudi agreement to the Houthi extension of an olive branch as according to the AFP Yemen's internationally recognized Saudi-backed government says it has informed UN envoy Martin Griffiths it is ready to take part in proposed peace talks with Houthi rebels to be held in Sweden. "The government has informed the UN envoy to Yemen ... that it will send a government delegation to the talks with the aim of reaching a political solution," Yemen's pro-Saudi foreign ministry said, quoted by the official Saba news agency. More at: https://www.zerohedge.com/news/2018-11-19/saudis-agree-yemen-peace-talks-ceasefire-effect-first-time-wars-start
    462 replies | 28965 view(s)
  • Swordsmyth's Avatar
    Yesterday, 10:55 PM
    According to new weather models, the US mid-Atlantic and Northeast regions are expected to experience the coldest/earliest temperatures to the start of any winter season on record. Weather Prediction Center: "Highs 20-35 degrees below normal" The culprit: a massive area of high pressure from the Arctic Circle will descend across Canada and into the Northeast, collapsing temperatures to life-threatening conditions ahead of Thanksgiving and into Black Friday. "Very cold air will make its way into the Northeast just in time for Thanksgiving and Black Friday. Most major cities along the I-95 corridor will rival coldest maximum temperatures for the date, including New York City, Boston, Providence, and Philadelphia. Most cities will run 20 to 25 degrees below average for late November, and combined with breezy conditions, will make for brutally cold “feels like” temperatures even colder than the air temperature. This will make for an interesting dilemma for shoppers on the fence about heading out for Black Friday, with temperatures Thursday night in the single digits and teens for most. With this increased cold risk, natural gas continues to be heavily influenced by weather model forecasts through the end of the month," said Ed Vallee, head meteorologist at Vallee Weather Consulting. The National Digital Forecast Database (NDFD) released new weather models that indicate the blast of arctic air could affect much of the mid-Atlantic and North East regions, threatening to keep America's consuming herd indoors, crippling shopping intentions and keeping tens of millions of Americans away from their favorite retailer of choice. NDFD Low Temperatures For Thanksgiving "November is running more than 4°F below normal across the Lower 48. Unprecedented cold coming by Thanksgiving will turn this map dark purple across the Northeast," said Ryan Maue of weathermodels.com.
    18 replies | 159 view(s)
  • Swordsmyth's Avatar
    Yesterday, 10:52 PM
    Saudi King Salman stood by the crown prince and heaped praise on the judiciary Monday, in his first public remarks since critic Jamal Khashoggi's murder tipped the country into one of its worst crises.The public prosecutor last week exonerated Crown Prince Mohammed bin Salman, the king's son, of involvement in the murder in the Saudi consulate in Istanbul on October 2, but the CIA reportedly concluded he had ordered the assassination. The prosecutor called for the death penalty against five men, announced indictments against 11 people, and said a total of 21 individuals were in custody in connection with the killing. "The kingdom was founded on Islamic principles of justice and equality, and we are proud of the efforts of the judiciary and the public prosecution," the 82-year-old monarch said in his annual address to the Shura Council, a top advisory body. "We ensure that this country will never deviate from implementing God's law without discrimination," he added, without directly addressing the murder of The Washington Post columnist in his speech. In Saudi Arabia's absolute monarchy, only the king has the authority to oust the powerful crown prince –- who faces intense global criticism over the murder –- but he has repeatedly indicated that he has no intention to do so. More at: https://www.yahoo.com/news/saudi-kin...131641822.html
    5 replies | 131 view(s)
  • Swordsmyth's Avatar
    Yesterday, 10:35 PM
    Do they agree on everything? Do they plan everything together? Is Ron Paul guilty by association with Thiel as well?
    82 replies | 946 view(s)
  • Swordsmyth's Avatar
    Yesterday, 10:33 PM
    There are actually 2 other alternatives. 1 an armed revolution that includes an element of redistribution of property to rectify the stolen wealth that has enabled such domination of the government and marketplace. Very dangerous and to be avoided while there are ANY other options 2 the public option, create a money storage/transfer system run by the Post Office or the Treasury Department that is required to serve everyone. This would leave the "private" corporations to do as they pleased while preventing the left from creating a Neo-Feudal mark of the beast system where anyone they don't like is unpersoned BUT it is expanding the role of government.
    82 replies | 946 view(s)
  • Swordsmyth's Avatar
    Yesterday, 10:21 PM
    The Trump administration isn't doing this, "private" corporations are.
    82 replies | 946 view(s)
  • Swordsmyth's Avatar
    Yesterday, 09:56 PM
    The alternative to the options I laid out is to see the left enthroned as a new aristocracy, not the kind of unicorn riding, libertarianism loving aristocracy that you dream about but a micromanaging, rabble bribing, socialism loving aristocracy that isn't ruled by a single king who according to you would have incentives to move towards the free market but is instead divided into permanently squabbling tribes that struggle to control an ever more powerful government to profit by stealing from us and eachother. In short it is the negative image of your utopia and ought to frighten you to death, making everyone play by the same rules until we can repeal the rules entirely should be seen as near heaven by comparison.
    82 replies | 946 view(s)
  • Swordsmyth's Avatar
    Yesterday, 09:32 PM
    The CRA allows the left to force the right to serve its base by creaming "racism" etc. while the left is allowed to deny service to the right because it is presumed that the right's base can't be discriminated against. I've said what I propose before, lawsuits for breach of contract and false advertising, I would also like to see competition arise to solve the problem but the system is rigged against that, I would like to see the CRA repealed and an end to government subsidies and regulation that gives the left unfair advantages. But if that doesn't work then making the left play by the same rules as everyone else may be the only option, at least then they might agree to remove the mandates from everyone and they wouldn't get to control who gets to speak and be heard or who gets to buy and sell in the meantime.
    82 replies | 946 view(s)
  • Swordsmyth's Avatar
    Yesterday, 09:22 PM
    I would like to repeal the Civil Rights Act and end government subsidization and regulation that enables the problem, do you think we can do that right now with the left getting all of the benefits and none of the drawbacks of the current state of things?
    82 replies | 946 view(s)
  • Swordsmyth's Avatar
    Yesterday, 09:17 PM
    And some want the left to impose Neo-Feudalism on us either because they are closet leftists or because they vainly think that they and their ilk can seize the reins of power afterwards.
    82 replies | 946 view(s)
  • Swordsmyth's Avatar
    Yesterday, 09:16 PM
    I'm not necessarily endorsing that, I was explaining specs' position. But we must do something, the current situation is a guaranteed path to tyranny and communism, the left gets to break all the rules that they force on everyone else while the government subsidizes them and inhibits their competition. If the right finally grows enough of a spine to demand equal protection under the law it might be possible to get that done and then we would have a fighting chance to rectify all of the causes of current conditions, meanwhile I don't see much chance of repealing the Civil Rights Act or ending the government's subsidization of collaborating corporations and stifling their competition.
    82 replies | 946 view(s)
  • Swordsmyth's Avatar
    Yesterday, 09:05 PM
    Convenient reading comprehension problems?
    82 replies | 946 view(s)
  • Swordsmyth's Avatar
    Yesterday, 09:04 PM
    Anyone. It wouldn't be the optimal solution but if the left had to deal with the consequences that they have been forcing on everyone else they might agree to get rid of the whole thing.
    82 replies | 946 view(s)
  • Swordsmyth's Avatar
    Yesterday, 09:02 PM
    The biggest problem in all of this is government subsidizing connected corporations/oligarchs and inhibiting competition, if they are allowed to continue that and add Neo-Feudalism through political activist crony corporations the only possible outcomes will be absolute tyranny or armed revolt.
    82 replies | 946 view(s)
  • Swordsmyth's Avatar
    Yesterday, 08:58 PM
    Pakistani Prime Minister Imran Khan on Monday lashed out at U.S. President Donald Trump following his remarks that Pakistan doesn't "do a damn thing" for the United States despite billions of dollars in U.S. aid for the South Asian nation.The friction threatens to further worsen already fragile relations between Islamabad and Washington, on-off allies who have repeatedly clashed about the war in Afghanistan and Pakistan's alleged support for Islamist militants. Khan, who assumed power in August and is known for his fiery anti-American rhetoric, said in a series of tweets that "record needs to be put straight on Mr Trump's tirade against Pakistan" over the weekend. Trump, during a Fox News TV interview aired on Sunday, defended cutting aid to Islamabad and also suggested Pakistani authorities knew Osama bin Laden's location prior to his killing by U.S. troops in a raid inside Pakistan in 2011. Pakistan denies supporting Afghan Taliban insurgents waging war against U.S.-backed troops in Afghanistan and Islamabad has also always rejected claims officials aided former al Qaeda leader bin Laden. "Instead of making Pakistan a scapegoat for their failures, the US should do a serious assessment of why, despite 140000 NATO troops plus 250,000 Afghan troops & reportedly $1 trillion spent on war in Afghanistan, the Taliban today are stronger than before," Khan tweeted. Trump, in a pre-recorded interview, said bin Laden had been living in "a nice mansion" in Pakistan next to a military academy and "everybody in Pakistan knew he was there". "And we give Pakistan $1.3 billion a year. ...(bin Laden) lived in Pakistan, we're supporting Pakistan, we're giving them $1.3 billion a year - which we don't give them anymore, by the way. I ended it because they don't do anything for us, they don't do a damn thing for us." Khan said Pakistan had borne the brunt of the United States' war on terror, which focused on militants that straddle the Afghanistan-Pakistan tribal belt. "No Pakistani was involved in 9/11 but Pak decided to participate in US War on Terror," Khan said. "Pakistan suffered 75,000 casualties in this war & over $123 bn was lost to economy. US "aid" was a minuscule $20 bn." Khan also pointed out that Pakistan continued to provide its roads and air space for the re-supply for more than 10,000 U.S. troops currently based in Afghanistan.
    1 replies | 58 view(s)
  • Swordsmyth's Avatar
    Yesterday, 08:55 PM
    Libya’s top oil chief expects OPEC and allied producers to exempt the strife-torn North African country from any future cuts in crude output.“The OPEC community has understood the difficulties we face –- Libya has withheld more than any other country from the global market,” National Oil Corp. Chairman Mustafa Sanalla wrote in a phone message. “This should be factored in.” OPEC and its allies are considering cutting oil output in 2019 as the group is increasingly concerned about the potential for oversupply. Libya, along with Nigeria, has been exempt from cuts since January 2017 due to domestic conflict. Libya has been rebuilding its energy industry from damage inflicted since a 2011 revolt and collapse in central authority. The nation’s production rose from 660,000 barrels a day in July to almost double that volume currently. Saudi Arabia’s state-run news agency reported last week that it’s important Libya participate in decisions to re-balance the market through production cuts. Also last week, OPEC Secretary-General Mohammad Barkindo said the group was in talks with Libya and Nigeria about an oil-cuts deal. More at: https://www.yahoo.com/news/libya-oil-boss-sees-country-124633520.html
    597 replies | 19539 view(s)
  • Swordsmyth's Avatar
    Yesterday, 08:51 PM
    With its Persian restaurants and shop signs in Farsi, Murshid Bazaar, a dense maze of alleys in Dubai's old quarter, has for decades been a centre for small-scale trade with Iran.That is changing. One in every dozen or so shops in the once-bustling area is shuttered or carries a "for rent" sign. Indian and Pakistani merchants now far outnumber the Iranians who used to dominate the area. The Iranians who stayed say the fallout from U.S. sanctions has made their jobs harder. Dubai has long been one of Iran's main links to the outside world, but trade between the two has slowed as sanctions approached. Imposed in early November and August, the sanctions target Iran's rial currency, autos, metals, oil and banking. The saffron, clothing and processed foods that the Iranians sell in the bazaar are not directly targeted but the merchants say business conditions have got worse. Banks in the United Arab Emirates, including in Dubai, have become more reluctant to work with Iranians for fear of exposing themselves to U.S. legal action. And the rial's nearly 70 percent fall against the U.S. dollar this year has made business with Iran risky. Landlords in the bazaar are offering to waive two months of rent for prospective tenants, said businessman Aftab Hasan, a member of the city's Iranian Business Council. "A lot of Iranians have shut down their stores," finding it harder to do business in Dubai, he said. Some are considering whether to leave the city in search of other bases for their operations, he added. The deteriorating bank ties also threaten a larger re-export trade of other countries' goods to Iran through Dubai's ports and airports. In the past, these have included cars and auto parts, consumer electronics, machinery, glass and plastics. Last year, 29 percent of Iran's $71.5 billion imports passed through the UAE, according to International Monetary Fund data. The vast majority moved via Dubai, which does not disclose timely data on its trade with Iran. Two-way trade between Iran and the UAE shrank to $1.75 billion in July from $2.49 billion last December. In 2014, at the height of the previous sanctions period, monthly trade averaged $1.92 billion.
    369 replies | 14710 view(s)
  • Swordsmyth's Avatar
    Yesterday, 08:49 PM
    In a Monday tweet, Senator Mike Lee of Utah lambasted his Republican colleague, Senator Tom Cotton of Arkansas, for spreading “fake news” about the bipartisan criminal-justice-reform bill currently making its way through Congress. Cotton has maintained his opposition to the First Step Act — a sweeping package of criminal-justice reforms designed to reduce incarceration rates and recidivism — despite mounting bipartisan support. In defending his opposition on Twitter Monday, Cotton accused the bill’s proponents of trying to push it through Congress without allowing time for an adequate review of its contents. Or that it gives early release to “low level, nonviolent” criminals who steal passports & immigration docs from aliens who have been trafficked to keep them in captivity (USC 1592(a)). Hearings & open debate would bring needed daylight… — Tom Cotton (@SenTomCotton) November 17, 2018 In response, Lee, who supports the bill, accused Cotton of disseminating false information before mounting into a point-by-point rebuttal of the Arkansan’s arguments against it. First, the House Judiciary committee passed the First Step Act out of committee on May 9 of this year, and the Senate Judiciary Committee passed the highly similar Sentencing and Corrections Act out of committee on Feb 15 of this year. These are not new policies. 2/ — Mike Lee (@SenMikeLee) November 19, 2018
    23 replies | 283 view(s)
  • Swordsmyth's Avatar
    Yesterday, 08:45 PM
    Greece on Monday issued its first licenses for the cultivation and processing of medical cannabis in a taboo-breaking move, the agriculture ministry said Monday.The licenses went to two companies, Biomecann and Bioprocann, respectively based in Larissa and Corinth, who are expected to invest a combined 22 million euros ($25 million) and hire over 100 people. "It's a greenhouse cultivation expected to create many jobs," junior agriculture minister Vassilis Kokkalis said in a statement jointly released with the ministries of health and development. The licenses have a five-year duration and are revised annually. A law permitting the production of medical cannabis was passed earlier this year by Greece's leftist-led government. Another 12 investment proposals worth 185 million euros are awaiting approval, junior development minister Stergios Pitsiorlas said. The government last year authorised the import of several products based on medical marijuana, as well as hemp cultivation for industrial purposes. More at: https://www.yahoo.com/news/greece-issues-first-medical-cannabis-licenses-175421221.html
    0 replies | 28 view(s)
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    Yesterday, 08:27 PM
    Saudi King Salman stood by the crown prince and heaped praise on the judiciary Monday, in his first public remarks since critic Jamal Khashoggi's murder tipped the country into one of its worst crises.The public prosecutor last week exonerated Crown Prince Mohammed bin Salman, the king's son, of involvement in the murder in the Saudi consulate in Istanbul on October 2, but the CIA reportedly concluded he had ordered the assassination. The prosecutor called for the death penalty against five men, announced indictments against 11 people, and said a total of 21 individuals were in custody in connection with the killing. "The kingdom was founded on Islamic principles of justice and equality, and we are proud of the efforts of the judiciary and the public prosecution," the 82-year-old monarch said in his annual address to the Shura Council, a top advisory body. "We ensure that this country will never deviate from implementing God's law without discrimination," he added, without directly addressing the murder of The Washington Post columnist in his speech. In Saudi Arabia's absolute monarchy, only the king has the authority to oust the powerful crown prince –- who faces intense global criticism over the murder –- but he has repeatedly indicated that he has no intention to do so. More at: https://www.yahoo.com/news/saudi-king-salman-praises-judiciary-amid-khashoggi-fallout-131641822.html
    219 replies | 5175 view(s)
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    Yesterday, 08:25 PM
    President Donald Trump is succeeding in making China pay most of the cost of his trade war.That’s the conclusion of a new paper from EconPol Europe, a network of researchers in the European Union. U.S. companies and consumers will only pay 4.5 percent more after the nation imposed 25 percent tariffs on $250 billion of Chinese goods, and the other 20.5 percent toll will fall on Chinese producers, according to authors Benedikt Zoller-Rydzek and Gabriel Felbermayr. According to Zoller-Rydzek and Felbermayr, the tariffs will do what Trump has longed for: They will cut American imports of affected Chinese goods by more than a third, and lower the bilateral trade deficit by 17 percent. The Trump administration selected products with the highest “price elasticity,” or high availability of substitutes, according to Zoller-Rydzek and Felbermayr. The Chinese products hit by Trump’s tariffs can mostly be replaced by other goods, forcing exporters to cut selling prices to keep buyers. “Through its strategic choice of Chinese products, the U.S. government was not only able to minimize the negative effects on U.S. consumers and firms, but also to create substantial net welfare gains in the U.S.,” the researchers wrote. The U.S. is due to raise duties on the largest $200 billion tranche of goods to 25 percent from 10 percent on Jan. 1. In retaliation, China has slapped tariffs on $110 billion in imports from the U.S. and effectively shut off its purchase of key American agricultural exports including soybeans. With the economic costs shifted to China, the U.S. levies will lead to a $18.4 billion net gain for the American government, the researchers wrote. More at: https://finance.yahoo.com/news/china-paying-most-trump-apos-134813450.html
    490 replies | 13648 view(s)
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    Yesterday, 08:22 PM
    Germany Steps Up Action Against Saudi Arabia And Bans All Weapon Sales
    219 replies | 5175 view(s)
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    Yesterday, 08:00 PM
    Sixteen House Democrats vowed on Monday to oppose Nancy Pelosi's bid to become speaker, calling the California Democrat's confident prediction of her speakership into question, reports Politico. In a controversial letter released on Monday, the Democrats opposing Pelosi called her a "historic figure," but noted that Democratic voters asked for "real change in Washington." "Our majority came on the backs of candidates who said that they would support new leadership because voters in hard-won districts, and across the country, want to see real change in Washington. We promised to change the status quo, and we intend to deliver on that promise," the letter reads. The show-of-force underscores the depth of the challenge facing Pelosi, who has led the caucus for 16 years. Pelosi needs 218 votes among lawmakers present and voting to be elected speaker on Jan. 3. House Democrats have won 233 seats, meaning Pelosi can currently only afford to lose 15 votes. The letter includes 12 incumbents, three incoming freshman and one candidate, Ben McAdams of Utah, whose race has not been called. -Politico The letter does not include at least three additional Democratic lawmakers or incoming House members who have confirmed their intention to oppose Pelosi to Politico: Rep. Conor Lamb of Pennsylvania, Abigail Spanberger of Virginia and Jason Crow of Colorado. The additional three would bring Pelosi's opposition to 19 members or members-elect - enough to keep her from becoming speaker should nothing change. Pelosi has insisted for weeks that she will win the speaker vote and has no intention of withdrawing. That said, Monday's letter suggest Pelosi's "pressure campaign" (as Politico puts it) to gain the needed votes has fallen short so far, however her allies note that they still have over a month to persuade the "no" votes.
    35 replies | 468 view(s)
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    Yesterday, 07:53 PM
    Jewish Home Party leader Naftali Bennett has dropped his demand to become Israeli defense minister after incumbent Avigdor Lieberman's abrupt resignation, The Times of Israel reported Nov. 19. Jewish Home Party officials had said they would abandon the governing coalition if Bennett was not given the post. Bennett's announcement will likely keep Prime Minister Benjamin Netanyahu's governing coalition intact for now, although his coalition only retains a narrow majority, meaning the withdrawal of a single party would trigger snap elections. More at: https://worldview.stratfor.com/situation-report/israel-bennett-withdraws-defense-post-demand
    38 replies | 415 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

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

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