http://www.zerohedge.com/fullrss2.xml/article/article/%3Ca%20href%3D en "You Afraid Of A Dead Body?" Boys Who Laughed While Man Drowned Will Face Charges http://www.zerohedge.com/news/2017-07-22/you-afraid-dead-body-boys-who-laughed-while-man-drowned-will-face-charges <p>In a news story that sounds like something from Mad Max, a group of Florida teenagers who filmed themselves laughing and cracking jokes while a disabled man drowned, and then left the scene without telling anybody, will face criminal charges after all &ndash; but there&rsquo;s a catch.</p> <p>The teenagers, each between the ages of 14 and 16, will be charged with not reporting a death, a misdemeanor offense under Florida law. Authorities initially said there didn&rsquo;t appear to be grounds to prosecute the teens, who were caught on camera mocking 32-year-old Jamel Dunn as he drowned in Cocoa, Florida, according to the <a href="http://nypost.com/2017/07/21/teens-who-laughed-as-man-drowned-will-face-charges/">New York Post.</a></p> <p>The callous crime, which is vaguely reminiscent of the infamous Kitty Genovese slaying in New York City, is indicative of a trend tht has been bothering older Americans since the first signs began emerging in the early 90s. The contemporary breakdown in communal responsibility, fostered by smartphones and digitization of daily life, where violent videos inure children to death and violence. <strong>The boys can be heard in the video discussing Dunn&rsquo;s impending death. One of the boys teased another about being scared to see a dead body, the boy replies &ldquo;I ain&rsquo;t scared to see no dead person.&rdquo;</strong></p> <p><iframe allowfullscreen="" frameborder="0" height="348" src="//players.brightcove.net/4137224153001/547c727e-2209-4fad-afc9-39b66e79dab4_default/index.html?videoId=5515725569001" width="618"></iframe></p> <p><strong>The disturbing footage, recorded by one of the boys, shows Dunn, who is disabled, struggling and screaming for help in the pondIn response, the boys urge him to get out of the water &ndash; &ldquo;Get out the water you&rsquo;re going to die!&rdquo;&nbsp; Another boy shouts. &ldquo;We&rsquo;re not finna help you!&rdquo;</strong></p> <p>The recommended charges will be given to the Florida State Attorney&rsquo;s Office, which will determine whether to prosecute the teens, according to Cocoa Police Chief Mike Cantaloupe.</p> <p>Even if the boys are charged, misdemeanors typically carry sentences of less than a year, leaving the boys free of criminal records, unless they commit more crimes as adults Cocoa Police Department spokesperson Yvonne Martinez said the teens, ages 14 to 16, had The department didn&rsquo;t disclose the number of teens involved, or their names.</p> <blockquote><div class="quote_start"><div></div></div><div class="quote_end"><div></div></div><p><strong>&ldquo;He started to struggle and scream for help and they just laughed,&rdquo; Martinez said. &ldquo;They didn&rsquo;t call the police. They just laughed the whole time. He was just screaming &hellip; for someone to help him.&rdquo; </strong>The teenagers didn&rsquo;t stop joking about Dunn when he failed to surface in the water.</p> </blockquote> <blockquote><div class="quote_start"><div></div></div><div class="quote_end"><div></div></div><p>&ldquo;Oh, he just died,&rdquo; said one as the others laughed.</p> </blockquote> <p><strong>The teens left the Cocoa park without notifying anyone about Dunn&rsquo;s death. Three days later, his body was discovered in the pond.</strong></p> <p>&ldquo;<strong>We are deeply saddened and shocked at both the manner in which Mr. Dunn lost his life and the actions of the witnesses to this tragedy,&rdquo; </strong>State Attorney Phil Archer said in a statememt, according to NBC News.</p> <p>Dunn&rsquo;s sister Simone McIntosh started a GoFundMe campaign to raise money for his funeral and to help his two daughters.t Dunn&rsquo;s death. Three days later, his body was discovered in the pond.</p> <div class="field field-type-filefield field-field-image-teaser"> <div class="field-items"> <div class="field-item odd"> <img class="imagefield imagefield-field_image_teaser" width="721" height="524" alt="" src="http://www.zerohedge.com/sites/default/files/images/user245717/imageroot/2017.07.22florida.JPG?1500760724" /> </div> </div> </div> http://www.zerohedge.com/news/2017-07-22/you-afraid-dead-body-boys-who-laughed-while-man-drowned-will-face-charges#comments Cocoa Cocoa Police Cocoa Police Department Cocoa, Florida E.S.P. Florida Florida State Attorney’s Office GoFundMe Law NBC New York City New York Post smartphones Social Issues Television in the Philippines Sun, 23 Jul 2017 00:30:00 +0000 Tyler Durden 600287 at http://www.zerohedge.com Japan's Shifting Power Alliances http://www.zerohedge.com/news/2017-07-22/japans-shifting-power-alliances <p><a href="https://dailyreckoning.com/japan-power-alliances/"><em>Authored by Nomi Prins via The Daily Reckoning,</em></a></p> <p><span style="font-weight: 400;">I&rsquo;ve just wrapped up a long trip to Japan. And I&rsquo;ve taken away one lesson from all of my conversations, speeches and research: <strong>The rise of nationalism in the U.S. will cause massive shifts in global trade alliances.</strong></span></p> <p><span style="font-weight: 400;"><strong>One of the main beneficiaries will be Japan. </strong>Now, Japan might not be on your radar, day-to-day, but it&rsquo;s about to play a very important role in the world of Donald Trump.</span></p> <p><span style="font-weight: 400;">Here&rsquo;s what I mean&hellip;</span></p> <p><span style="font-weight: 400;">During President Trump&rsquo;s campaign, he often discussed making &ldquo;better&rdquo; trade deals for the United States with its partners.</span></p> <p><span style="font-weight: 400;">Indeed, one of his first executive orders as President on January 23, 2017 involved removing the U.S. from the Trans Pacific Partnership Trade Agreement, or TPP. That agreement originally involved 12 countries including the U.S.</span></p> <p><span style="font-weight: 400;"><strong>Now, TPP is left with 11: Japan, Mexico, Australia, Brunei, Canada, Chile, Malaysia, New Zealand, Peru, Singapore and Vietnam. </strong>The TPP&rsquo;s member countries account for 40 percent of global GDP, 20 percent of global trade, and 11.3 percent of the world&rsquo;s population. It will still likely go ahead without the U.S., which will put America at a trading disadvantage.</span></p> <p><strong><span style="font-weight: 400;">However, this offers Japan good news for future trade and projects. Japan is well positioned to benefit both from existing alliances with the U.S. and growing ones in the rest of the world, particularly with China and the EU.</span></strong></p> <p><strong><span style="font-weight: 400;">Another key agreement, </span><a href="http://asean.org/?static_post=rcep-regional-comprehensive-economic-partnership" rel="noopener" target="_blank"><span style="font-weight: 400;">called the RCEP</span></a></strong><span style="font-weight: 400;"><strong>, also excludes the U.S. but includes Japan.</strong> It represents 16 countries that account for almost half the world&rsquo;s population, contribute 24% percent of global GDP and over a quarter of world exports.</span></p> <p><img alt="RCEP" class="aligncenter size-full wp-image-99017" src="https://dailyreckoning.com/wp-content/uploads/2017/07/RCEP.jpg" style="width: 500px; height: 373px;" /></p> <p><span style="font-weight: 400;">The countries are Japan, Australia, Brunei, Cambodia, China, India, Indonesia, Laos, Malaysia, Myanmar, New Zealand, Philippines, Singapore, South Korea, Thailand and Vietnam. The economic and population growth rates of the RCEP countries far outpaces that of the U.S. and EU.</span></p> <p><strong>This trend of non-U.S. trade alliances is more pronounced than ever for three reasons:</strong></p> <blockquote><div class="quote_start"><div></div></div><div class="quote_end"><div></div></div><p><span style="font-weight: 400;">First, because of the United Kingdom vote for Brexit last summer, which cast into flux the future trade and capital flows between the U.K. and its trading partners.</span></p> <p>&nbsp;</p> <p><span style="font-weight: 400;">The second reason is the Trump doctrine of bilateral rather than multi-lateral trade agreements. Taking the U.S. out of critical multilateral contention during an intense period of international re-alignment means more economic opportunity for other budding alliances as well as a long-term power shift. &nbsp;This would benefit Japan.</span></p> <p>&nbsp;</p> <p><span style="font-weight: 400;">Finally, there is the </span><a href="https://dailyreckoning.com/japan-role-west-east-power-shift/" rel="noopener" target="_blank"><span style="font-weight: 400;">ongoing West to East shift of power</span></a><span style="font-weight: 400;"> and influence. Since the Federal Reserve and its cohorts at the ECB and BOJ embarked upon quantitative easing, or asset buying to bolster the markets, debt to GDP levels in those areas jumped as well. Respectively, they are 90.1 percent for the ECB, 104.3 percent for the U.S., and 250.4 percent for Japan).</span></p> </blockquote> <div class="wp-caption aligncenter" id="attachment_99018" style="width: 596px;"><img alt="Nomi Prins Canon Institute for Global Studies" class="wp-image-99018 size-full" height="350" src="https://dailyreckoning.com/wp-content/uploads/2017/07/Nomi-Prins-Canon-Institute-for-Global-Studies.jpg" width="586" /><br /> <p class="wp-caption-text"><em>Nomi Prins delivering a speech to Canon Institute for Global Studies in Japan. Canon is a prestigious think tank populated with former government and central bank officials, and academics.</em></p> </div> <p><span style="font-weight: 400;">Pushback, particularly from China&rsquo;s central bank, the People&rsquo;s Bank of China, has resulted in the yuan&rsquo;s inclusion into the <a href="https://dailyreckoning.com/dont-get-caught-us-china-crossfire-part-ii/" rel="noopener" target="_blank">IMF&rsquo;s special drawing right, or SDR</a>. <strong>This is a way of securing currency flows and challenging the world&rsquo;s main reserve currency, the U.S. dollar.</strong></span></p> <p><strong><span style="font-weight: 400;">Japan stands ready to benefit from both its existing relationship with the U.S. and its involvement with China, the EU and other regional agreements.</span></strong></p> <p><span style="font-weight: 400;"><strong>All that said, the U.S. and Japan still represent about 30 percent of global GDP. </strong>With so much in flux worldwide and in Asia, their combined strength and diplomatic ties could prove more fruitful for both countries if translated quickly to real infrastructure building and development projects. These could create long-term demand for knowledge, supplies and jobs.</span></p> <h2><u><strong>New Infrastructure Projects for Japan</strong></u></h2> <p>The last time I was in Tokyo was a week after the U.S. election when I addressed the Tokyo stock exchange. There was much interest from the Japanese as to what the Trump presidency would mean for Japan, particularly in the areas of defense and trade.</p> <p>Six months into Trump&rsquo;s administration, that interest remains acute. In February, President Trump addressed military and defense, saying he is committed to &ldquo;the security of Japan and all areas under its administrative control.&rdquo;</p> <p><strong>This was a victory for Abe, who came to Washington to develop a sense of trust with Trump and a solidification of the post-WWII U.S.-Japan alliance.</strong></p> <p>A White House statement confirmed policy continuity, noting, &ldquo;Amid an increasingly difficult security environment in the Asia-Pacific region, the United States will strengthen its presence in the region, and Japan will assume larger roles and responsibilities in the alliance.&rdquo;</p> <p><strong>From the standpoint of joint infrastructure projects, there are other, nearer term synergies that are also attractive investment opportunities.</strong></p> <p>Since the beginning of the Trump administration, there have been two official visits between President Trump and Prime Minister Abe. Trump has not been to Japan as President yet but it&rsquo;s rumored that he has a trip planned for November.</p> <p>Meanwhile, the two leaders just met at the G20 summit in Hamburg, Germany. Before that meeting, Japan and the EU signed a historic, free trade agreement that will greatly increase trade and coordination between the two regions.</p> <p><strong>This is yet another sign about how eager Japan is to take a bigger position on the world stage. </strong>As the U.S. adopts a more nationalist tone to trade, major trading partners like Japan are looking for more regional capacity building. By diversifying international agreements, Japan could solidify its security while <a href="https://dailyreckoning.com/japan-role-west-east-power-shift/" rel="noopener" target="_blank">re-establishing itself as a reemerging Asian</a> powerhouse.</p> <p>Japan is also eager to get more involved in major infrastructure projects around the world. Just last week, the Japanese government set a new goal for Japan Inc., a network of corporate allegiances supporting construction, labor, and jobs. The goal is to export 30 trillion yen ($268 billion) worth of infrastructure packages by 2020.</p> <p>According to its just-released draft plans, Japan Inc. will seek involvement in infrastructure projects over multiple phases, spanning development through post-completion, providing on-the-ground ongoing operational, maintenance, personnel training and consulting services.</p> <p>Japan Inc. plans are multinational. The group, or its participating companies, could target India to get involved in the development of bullet trains and the Association of Southeast Asian Nations for high-speed rail systems and non-public transportation projects.</p> <h2><u>Japan Emerges in High-Speed Competition</u></h2> <p>Japan, Inc. also launched a competitive move against China for a high-speed train from Malaysia to Thailand. This is a 350-kilometer link project, worth about $14 billion. Winning that, or a portion of that contract, could prove a boon for Japanese construction and engineering companies.</p> <p>The winning company would be responsible for the design and construction of the railway systems, including tracks, power, signaling and telecommunications. The train will have a maximum operating speed of 320 kilometers per hour and cut travel time between the capitals to 90 minutes, compared with nearly five hours by car.</p> <p><strong>But there&rsquo;s more. Japan, Inc. is also angling for the U.S. maglev train project. The initial leg is estimated at $10 billion to build &mdash; the Japan Bank of International&nbsp;Cooperation has offered to pay half of the cost.</strong></p> <p><a href="http://www.cnbc.com/2017/02/03/abe-says-japan-to-show-unwavering-alliance-with-us-under-trump.html" rel="noopener" target="_blank">Reuters (CNBC)</a> reported on Feb. 3 that Tokyo had proposed an investment package for Trump that could generate 700,000 U.S. jobs and help create a $450 billion market. The proposal was in line with Abe&rsquo;s strategy of promoting Japanese high-tech exports and expertise overseas.</p> <p><strong>Reuters sources also noted that Japan was proposing to invest 17 trillion yen (US$150 billion) in public and private funds in the U.S. over the next decade.</strong></p> <p>Japan&rsquo;s main regional competitor, China, has also been gaining momentum on regional and international projects. Japan has missed some bids there, but it has the opportunity to use its unique favored-nation position with the U.S., and as a major partner in the ASEAN and RCEP agreements, to be well-placed to pick up fresh, lucrative contracts.</p> <p>Topping that all off, Japan&rsquo;s new free trade agreement with the EU will be the third largest in the world. It&rsquo;s expected to benefit both powers immediately by removing tariffs for a number of products, including electronics, sake and tea from Japan.</p> <p><strong>If the Trump administration makes good on its promise to build cooperation with the Japanese, collaborating on infrastructure projects would only further Japan&rsquo;s position in the region.</strong></p> <div class="field field-type-filefield field-field-image-teaser"> <div class="field-items"> <div class="field-item odd"> <img class="imagefield imagefield-field_image_teaser" width="396" height="220" alt="" src="http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/20170722_rcep.jpg?1500746581" /> </div> </div> </div> http://www.zerohedge.com/news/2017-07-22/japans-shifting-power-alliances#comments 114th United States Congress Asia-Pacific Association of Southeast Asian Nations Association of Southeast Asian Nations Australia Bank of Japan Business Canon Institute for Global Studies in Japan China Donald Trump Donald Trump Economy European Central Bank European Union Federal Reserve First 100 days of Donald Trump's presidency G20 Germany India International Monetary Fund International trade Japan Japan Japanese government Mexico Nationalism New Zealand People's Bank of China Quantitative Easing Regional Comprehensive Economic Partnership Reserve Currency Reuters Trade blocs Trans-Pacific Partnership Trump Administration Trump’s administration United Kingdom US Federal Reserve White House White House World Yen Yuan Sun, 23 Jul 2017 00:00:00 +0000 Tyler Durden 600276 at http://www.zerohedge.com Man Behind Trump "Dossier" Subpoenaed After Refusing To Testify, Will Plead The Fifth http://www.zerohedge.com/news/2017-07-22/man-behind-trump-dossier-refuses-testify-will-plead-fifth-fight-subpoena <p>For all the talk of obstruction and interference by the Trump camp, it's neither Donald Trump Jr. nor Paul Manafort who are challenging their scheduled testimony in the Senate next Wednesday, but rather the man who according to many started the whole "Trump Russia collusion" narrative, who is doing everything in his power to avoid testifying next week. </p> <blockquote class="twitter-tweet"><p dir="ltr" lang="en">FUSION GPS head Glenn Simpson won't testify before Senate Judiciary next week, his rep attacks "partisan" hearing and vows to plead Fifth</p> <p>— Manu Raju (@mkraju) <a href="https://twitter.com/mkraju/status/888506256293494786">July 21, 2017</a></p></blockquote> <script src="//platform.twitter.com/widgets.js"></script><p>On Friday, attorneys for Glenn Simpson, a former WSJ reporter who now runs the infamous Washington political intelligence firm Fusion GPS - best known for compiling the salacious "dossier" of unverified research about President Trump - told the Senate Judiciary Committee in a letter that their <strong>client was on vacation through July 31 and traveling abroad through August 3, and would be unavailable for next week’s hearing. </strong>Perhaps for writers of opposition research fiction, vacations take precedence over being summoned to Congress.</p> <p><a href="http://www.zerohedge.com/sites/default/files/images/user5/imageroot/2017/07/20/glenn%20simpson_0.jpg"><img src="http://www.zerohedge.com/sites/default/files/images/user5/imageroot/2017/07/20/glenn%20simpson_0_0.jpg" width="500" height="333" /></a><br /><em>Fusion GPS co-founder Glenn Simpson</em></p> <p>As a reminder, <strong>Simpson’s Fusion GPS is the firm which hired former British intelligence officer Christopher Steele, and his London-based Orbis Business Intelligence, to conduct opposition research on then presidential candidate Donald Trump, resulting in a 35-page dossier that was widely shared in political and media circles during and after the 2016 election. </strong>Steele and Orbis are currently being sued in the U.S. and U.K. by Aleksej Gubarev, a Russian tech executive who says he was falsely accused in the dossier of hacking the Democratic National Committee’s email systems.<strong><br /></strong></p> <p>McClatchy News recently reported that Steele filed new documents in that lawsuit. In one, dated May 18, Steele says that he was instructed by Fusion GPS to meet with reporters at various outlets in order to publicize some of the allegations made in the dossier. It has been widely known that Fusion GPS and Steele were in contact with reporters to discuss the dossier. It has been reported that rumors of the dossier were floating around in Washington, D.C. political and journalist circles for months prior to BuzzFeed’s decision to publish it on Jan. 10.</p> <p>Intelligence agencies made the existence of the dossier known to Trump in a January meeting. The dossier contains unverified, hyperbolic and in some cases, disproven, information about Trump’s activities and engagement with Russians. It served as a the basis for many of the ongoing allegations of Trump camp collusion with Russia. </p> <p><em><a href="http://www.zerohedge.com/sites/default/files/images/user5/imageroot/2017/07/20/1060x600-1b85d04e0634effe86248c6f17cbbd47.jpg"><img src="http://www.zerohedge.com/sites/default/files/images/user5/imageroot/2017/07/20/1060x600-1b85d04e0634effe86248c6f17cbbd47_0.jpg" width="510" height="289" /></a><br />Ex-British spy Christopher Steele was the author of the Trump Dossier, which Fusion </em><br /><em>GPS put together as opposition research by Trump political opponents in 2016</em></p> <p>In any case, Simpson's attorneys asked that their client be excused from appearing, adding that allegations he had failed to register as a foreign agent were "nothing more than an effort to smear him."&nbsp; The lawyers also said that they were "profoundly disturbed" that the hearing had been expanded due to "partisan agendas" to include allegations of Russian meddling in the U.S. election and possible ties between the Trump campaign and Russia. <strong>The letter also said they were prepared to fight a subpoena and invoke Mr. Simpson’s constitutional right not to give testimony if compelled to appear.</strong></p> <p>According to the WSJ, <strong>the letter explaining Simpson’s refusal to appear cites his obligations to keep his client information confidential and his First Amendment right under the Constitution to engage in political speech and political activity, </strong>as well as his Fifth Amendment reight to refuse self-incriminating testimony, also known as the "<em>I admit I am guilty"</em> option. </p> <p>His gambit did not work however, and late on Friday the Committee issued a subpoena to compel Simpson to testify next Wednesday. </p> <p>Committee Chairman Chuck Grassley and the committee’s top Democrat, Dianne Feinstein, in a joint statement said: “<strong>Glenn Simpson, through his attorney, has declined to voluntarily attend Wednesday’s Judiciary Committee hearing regarding compliance with the Foreign Agents Registration Act. Therefore, a subpoena has been issued to compel his attendance. Simpson’s attorney has asserted that his client will invoke his Fifth Amendment rights in response to the subpoena.</strong>”</p> <p>Yet while the vacation-challenged Simpson is afraid of revealing the true identity of his "client(s)" who commission the Trump smear piece, also on Wednesday appearing in the Senate will be Donald Trump Jr. and Paul Manafort, along with Russia sanctions activist and businessman Bill Browder. The Judiciary Committee said Messrs. Trump Jr. and Manafort are providing documents to the committee and are still negotiating the terms of their testimonies. </p> <p>As the <a href="https://www.wsj.com/articles/senate-judiciary-committee-subpoenas-founder-of-firm-behind-trump-dossier-1500682608">WSJ adds</a>, in addition to the dossier compiled on Trump, Grassley has alleged that Simpson’s firm has worked with a Russian-American lobbyist on a campaign against a package of Russian sanctions that was being considered by Congress. That lobbyist was present in a meeting in Trump Tower in June 2016 with the younger Mr. Trump. <strong>Grassley has raised questions about whether Simpson’s firm should have registered as a foreign agent for its work on the Russia sanctions</strong>. </p> <p>And while Simpson’s attorney called those questions and allegations “nothing more than an effort to smear him and his firm”, many are curious to find out just who it was that worked with Fusion GPS to launch the narrative that Trump's victory in the elections was the result of Kremlin interference.</p> <div class="field field-type-filefield field-field-image-teaser"> <div class="field-items"> <div class="field-item odd"> <img class="imagefield imagefield-field_image_teaser" width="575" height="319" alt="" src="http://www.zerohedge.com/sites/default/files/images/user5/imageroot/glenn%20simpson%20teaser.jpg?1500733905" /> </div> </div> </div> http://www.zerohedge.com/news/2017-07-22/man-behind-trump-dossier-refuses-testify-will-plead-fifth-fight-subpoena#comments British intelligence Business Business Intelligence Christopher Steele Congress Democratic National Committee Donald Trump Donald Trump Donald Trump–Russia dossier Draft:Timeline of the Trump-Russia Scandal First Amendment Fusion GPS Glenn R. Simpson GPS International relations Judiciary Committee Law Links between Trump associates and Russian officials Paul Manafort Politics Politics of the United States Russian interference in the 2016 United States elections Senate SPY Testimony Washington D.C. Sat, 22 Jul 2017 23:56:48 +0000 Tyler Durden 600263 at http://www.zerohedge.com The Return Of Eugenics? Tennessee Judge Issues Sterilization Program For Inmates http://www.zerohedge.com/news/2017-07-22/return-eugenics-tennessee-judge-issues-sterilization-program-inmates <p>A Tennessee judge is gaining national media attention for his unique incentive offered to inmates upon sentencing: <strong>convicts can undergo a free taxpayer funded sterilization procedure and get a 30 day reduction in jail time</strong>. Dozens have already taken advantage of the program since Judge Sam Benningfield of White County signed a standing order in May which offers vasectomies for men and a less permanent birth control implant, called Nexplanon, for women. Currently, 38 male and 32 female inmates are signed up for the program which the county district attorney is now seeking to get shut down.</p> <p>Judge Benningfield described the arrangement&#39;s purpose as &quot;breaking a&nbsp;vicious cycle of repeat offenders who constantly come into his courtroom on drug related charges, subsequently can&rsquo;t afford child support and have trouble finding jobs.&quot; <strong>The Tennessee Department of Health has reportedly given its approval for the local county program</strong>, which is now receiving fierce push back at the local and national levels, prompting a <a href="http://www.newschannel5.com/news/inmates-given-reduced-jail-time-if-they-get-a-vasectomy?page=2" target="_blank">statement</a> from the ACLU, which called an environment of coerced or legally pressured contraception and sterilization &quot;unconstitutional&quot; as a violation of basic individual rights.</p> <p>White County District Attorney Bryant Dunaway has instructed his staff of prosecutors not to enter into any agreement related to Benningfield&#39;s program, and told local <a href="http://www.newschannel5.com/news/inmates-given-reduced-jail-time-if-they-get-a-vasectomy?page=2" target="_blank">Channel 5 News </a>that, &quot;It&rsquo;s comprehensible that an 18-year-old gets this done, it can&rsquo;t get reversed and then that impacts the rest of their life.&quot; Local news presented the judge as innovative and benevolent, merely looking out for the community&#39;s interests, yet the endeavor is really nothing new. It actually hearkens back to a dirty little secret of the Progressive Era in America which rarely makes it into school textbooks: <strong>states once forced mass sterilization upon tens of thousands of citizens deemed &quot;unfit&quot; to produce families</strong> in a nation wide Eugenics movement that Hitler himself learned from.</p> <p><strong>Here are some fast facts about Eugenics in America and the Progressive Era:</strong><br /><em><a href="http://www.zerohedge.com/sites/default/files/images/user5/imageroot/2017/07/20/eugenics%201.jpg"><img alt="" src="http://www.zerohedge.com/sites/default/files/images/user5/imageroot/2017/07/20/eugenics%201_0.jpg" style="width: 500px; height: 380px;" /></a><br />Archival Eugenical Sterilization Map of the United States, 1935</em></p> <ul> <li><strong>The Progressive economists of the late 19th and early 20th centuries saw science as a means of social management and control.</strong> Eugenics (meaning &quot;well-born&quot;) involved societal and scientific intervention to bring about the &quot;fittest&quot; population (as in the Darwinian concept &quot;survival of the fittest&quot;) through various means, including forced sterilization, abortions, euthanasia, and discriminatory marriage laws.</li> <li><strong>Compulsory sterilization programs were established in over 30 states at the height of the Eugenics movement</strong> (1920&#39;s through mid-20th c.) which resulted in over 60,000 sterilizations of often perfectly healthy people. State and mental health boards would evaluate individuals and declare them &quot;feeble-minded&quot;, mentally deficient, or merely capable of passing on bad genes. Prison inmates were often targeted, even petty offenders, as criminality was seen as an inheritable trait. Sometimes unsuspecting people would enter a hospital for simple Appendicitis&nbsp;but wouldn&#39;t figure out they&#39;d been sterilized during their hospital stay until years or decades later.</li> <li><strong>Notable cases include Carrie Buck, a completely normal teenager</strong>, who after being raped at the age of 17 was committed to the &quot;Virginia Colony for Epileptics and Feeble-Minded&quot; where she was sterilized against her will. Supreme Court Justice Oliver Wendell Holmes Jr. concluded of Carrie&#39;s case that, &quot;the principle that sustains&nbsp;compulsory vaccination&nbsp;is broad enough to cover&nbsp;cutting the Fallopian tubes.... Three generations of&nbsp;imbeciles&nbsp;are enough.&quot; California&#39;s&nbsp;Charlie Follett was sterilized as a child for merely being born to alcoholic parents. California accounted for about one-third of all compulsory sterilizations nation wide, and the state refused to ever compensate Follet, even denying his request for a simple burial plot after he died impoverished in 2012.</li> <li><strong>Planned Parenthood was a product of the Eugenics movement. The abortion provider&#39;s founder, Margaret Sanger, was among the most prominent eugenicists of the early 20th century</strong>, penning popular articles with titles like &quot;The Eugenic Value of Birth Control Propaganda&quot; which argued that this &quot;new weapon of civilization and freedom&quot; could solve &quot;race problems&quot; and result in &quot;racial regeneration.&quot; Racial segregationists tended to see Eugenics as a method of ensuring &quot;racial purity&quot; - indeed what was known was &quot;positive Eugenics&quot; involved laws which sought to prevent inter-racial marriage.</li> <li><strong>Major corporate titans of the day, including the Rockefeller Foundation, the Carnegie Institution, and the Harriman railroad conglomerate</strong> were major funders of Eugenics research labs and committees.</li> </ul> <p><em><a href="http://www.zerohedge.com/sites/default/files/images/user5/imageroot/2017/07/20/eugenics%202.jpg"><img alt="" src="http://www.zerohedge.com/sites/default/files/images/user5/imageroot/2017/07/20/eugenics%202_0.jpg" style="width: 500px; height: 342px;" /></a><br />Archival photo:&nbsp;Eugenicists used Anthropometry to measure &quot;superior&quot; physical traits. </em></p> <ul> <li><strong>The &quot;American Breeder&#39;s Association&quot; was America&#39;s first eugenic organization (established in 1906), and as the name suggests, viewed humans as cattle</strong>: &quot;strong&quot; and &quot;fit&quot; qualities of human variation were studied in order to promote &quot;good breeding&quot; in humans. Eugenicists used Anthropometry - the measuring and study of human proportions - to establish what superior humans looked like.</li> <li><strong>Sound familiar? Hitler was a great admirer of progressive America&#39;s Eugenics</strong> policies and the Third Reich was <a href="https://www.theguardian.com/uk/2004/feb/06/race.usa" target="_blank">directly inspired</a> of American eugenic institutions. Hitler wrote in Mein Kamph:&nbsp;&quot;The demand that defective people be prevented from propagating equally defective offspring is a demand of clearest reason and, if systematically executed, represents the most humane act of mankind. It will spare millions of unfortunates undeserved sufferings, and consequently will lead to a rising improvement of health as a whole.&quot; Admiration went the other way too - in&nbsp;1937 the American Eugenics Society issued official statements of praise for Nazi scientists as they attempted to &quot;cleanse&quot; the gene pool.</li> </ul> <p>Tennessee Judge Benningfield&#39;s current program is sure to restart a conversation over Eugenics. While it&#39;s not currently to the point that inmates are &quot;forced&quot; into this arrangement, the catch-22 of <strong>&quot;more jail time or get snipped&quot;</strong> certainly could take us down a very dark and familiar path, a path that today&#39;s progressives and advocates of centralized state social planning would like us to ignore and forget.</p> <div class="field field-type-filefield field-field-image-teaser"> <div class="field-items"> <div class="field-item odd"> <img class="imagefield imagefield-field_image_teaser" width="620" height="348" alt="" src="http://www.zerohedge.com/sites/default/files/images/user5/imageroot/eugenics%20teaser.jpg?1500764186" /> </div> </div> </div> http://www.zerohedge.com/news/2017-07-22/return-eugenics-tennessee-judge-issues-sterilization-program-inmates#comments Ableism American Breeder's Association American Eugenics Society Applied ethics Birth control Carnegie Institution Carrie Buck Compulsory sterilization Department of Health Eugenics Eugenics in the United States Feeble-minded Health Hitler Racial Integrity Act Reproductive rights Rockefeller Foundation Sterilization Supreme Court Sat, 22 Jul 2017 23:29:41 +0000 Tyler Durden 600288 at http://www.zerohedge.com Small Town Suburbia Faces Dire Financial Crisis As Companies, Millennials Flee To Big Cities http://www.zerohedge.com/news/2017-07-22/companies-leave-suburbia-small-towns-face-dire-financial-trouble <p>College graduates and other young Americans are increasingly clustering in urban centers like New York City, Chicago and Boston. And now, American companies are starting to follow them. Companies looking to appeal to, and be near, young professionals versed in the world of e-commerce, software analytics, digital engineering, marketing and finance are flocking to cities. But in many cases, they&rsquo;re leaving their former suburban homes to face significant financial difficulties, according to <a href="https://www.washingtonpost.com/business/economy/as-companies-relocate-to-big-cities-suburban-towns-are-left-scrambling/2017/07/16/81c12cea-618d-11e7-84a1-a26b75ad39fe_story.html?utm_term=.b1a91a5382f0">the Washington Post.</a></p> <p>Earlier this summer, health-insurer <strong>Aetna said it would move its executives, plus most of technology-focused employees to New York City from Hartford, Conn., the city where the company was founded, and where it prospered for more than 150 years.</strong> <strong>GE said last year it would leave its Fairfield, Conn., campus for a new global headquarters in Boston. Marriott International is moving from an emptying Maryland office park into the center of Bethesda.</strong></p> <p><a href="http://www.zerohedge.com/sites/default/files/images/user245717/imageroot/2017/2017.07.18mcdonalds.JPG"><img alt="" src="http://www.zerohedge.com/sites/default/files/images/user245717/imageroot/2017/2017.07.18mcdonalds_0.JPG" style="width: 500px; height: 313px;" /> </a></p> <p>Meanwhile,<strong> Caterpillar is moving many of its executives and non-manufacturing employees to Deerfield, Ill. from Peoria, Ill., the manufacturing hub that CAT has long called home. And McDonald&rsquo;s is leaving its longtime home in Oak Brook, Ill. for a new corporate campus in Chicago.</strong></p> <blockquote><div class="quote_start"><div></div></div><div class="quote_end"><div></div></div><p>&ldquo;<strong>Visitors to the McDonald&rsquo;s wooded corporate campus enter on a driveway named for the late chief executive Ray Kroc, then turn onto Ronald Lane before reaching Hamburger University, where more than 80,000 people have been trained as fast-food managers.</strong></p> <p>&nbsp;</p> <p>Surrounded by quiet neighborhoods and easy highway connections, this 86-acre suburban compound adorned with walking paths and duck ponds was for four decades considered the ideal place to attract top executives as the company rose to global dominance.</p> <p>&nbsp;</p> <p><strong>Now its leafy environs are considered a liability. Locked in a battle with companies of all stripes to woo top tech workers and young professionals, McDonald&rsquo;s executives announced last year that they were putting the property up for sale and moving to the West Loop of Chicago where &ldquo;L&rdquo; trains arrive every few minutes and construction cranes dot the skyline.&rdquo;</strong></p> </blockquote> <p>The migration to urban centers, according to <a href="https://www.washingtonpost.com/business/economy/as-companies-relocate-to-big-cities-suburban-towns-are-left-scrambling/2017/07/16/81c12cea-618d-11e7-84a1-a26b75ad39fe_story.html?utm_term=.b1a91a5382f0">WaPo,</a> threatens the prosperity outlying suburbs have long enjoyed, bringing a dose of pain felt by rural communities and exacerbating stark gaps in earnings and wealth that Donald Trump capitalized on in winning the presidency.</p> <p>Many of these itinerant companies aren&rsquo;t really moving &ndash; or at least not entirely. <strong>Some, like Caterpillar, are only moving executives, along with workers involved in technology and marketing work, while other employees remain behind.</strong></p> <blockquote><div class="quote_start"><div></div></div><div class="quote_end"><div></div></div><p>&ldquo;<strong>Machinery giant Caterpillar said this year that it was moving its headquarters from Peoria to Deerfield, which is closer to Chicago. It said it would keep about 12,000 manufacturing, engineering and research jobs in its original home town. But top-paying office jobs</strong> &mdash; the type that Caterpillar&rsquo;s higher-ups enjoy &mdash; are being lost, and the company is canceling plans for a 3,200-person headquarters aimed at revitalizing Peoria&rsquo;s downtown.&rdquo;</p> </blockquote> <p>Big corporate moves can be seriously disruptive for a cohort of smaller enterprises that feed on their proximity to big companies, from restaurants and janitorial operations to other subcontractors who located nearby. Plus, the cancellation of the new headquarters was a serious blow. Not to mention the rollback in public investment.</p> <blockquote><div class="quote_start"><div></div></div><div class="quote_end"><div></div></div><p><strong>&ldquo;It was really hard. I mean, you know that $800 million headquarters translated into hundreds and hundreds of good construction jobs over a number of years,&rdquo;</strong> Peoria Mayor Jim Ardis (R) said.</p> </blockquote> <p>For the village of Oak Brook, being the home of McDonald&rsquo;s has always been a point of pride. Over the year&rsquo;s the town&rsquo;s brand has become closely intertwined with the company&rsquo;s. <strong>But as McDonald&rsquo;s came under pressure to update its offerings for the Internet age, it opened an office in San Francisco and a year later moved additional digital operations to downtown Chicago, strategically near tech incubators as well as digital outposts of companies that included Yelp and eBay. That precipitated the much larger move it is now planning to make.</strong></p> <p><iframe allowfullscreen="" frameborder="0" height="290" mozallowfullscreen="" scrolling="no" src="//www.washingtonpost.com/video/c/embed/227604e8-5aa0-11e7-aa69-3964a7d55207" webkitallowfullscreen="" width="480"></iframe></p> <blockquote><div class="quote_start"><div></div></div><div class="quote_end"><div></div></div><p>&ldquo;The village of Oak Brook and McDonald&rsquo;s sort of grew up together. So, when the news came, it was a jolt from the blue &mdash; we were really not expecting it,&rdquo; said Gopal G. Lalmalani, a cardiologist who also serves as the village president.</p> </blockquote> <p><strong>Lalmalani is no stranger to the desire of young professionals to live in cities:</strong> His adult daughters, a lawyer and an actress, live in Chicago. When McDonald&rsquo;s arrived in Oak Brook, in 1971, many Americans were migrating in the opposite direction, away from the city. In the years since, the tiny village&rsquo;s identity became closely linked with the fast-food chain as McDonald&rsquo;s forged a brand that spread across postwar suburbia one Happy Meal at a time.</p> <blockquote><div class="quote_start"><div></div></div><div class="quote_end"><div></div></div><p><strong>&ldquo;It was fun to be traveling and tell someone you&rsquo;re from Oak Brook and have them say, &lsquo;Well, I never heard of that,&rsquo; and then tell them, &lsquo;Yes, you have. Look at the back of the ketchup package from McDonald&rsquo;s,&rsquo;&thinsp;&rdquo;</strong> said former village president Karen Bushy. Her son held his wedding reception at the hotel on campus, sometimes called McLodge.</p> <p>&nbsp;</p> <p>The village showed its gratitude &mdash; there is no property tax &mdash; and McDonald&rsquo;s reciprocated with donations such as $100,000 annually for the Fourth of July fireworks display and with an outsize status for a town of fewer than 8,000 people.&rdquo;</p> </blockquote> <p>Robert Gibbs, the former White House press secretary who is now a McDonald&rsquo;s executive vice president, <strong>said the company had decided that it needed to be closer not just to workers who build e-commerce tools but also to the customers who use them.</strong></p> <blockquote><div class="quote_start"><div></div></div><div class="quote_end"><div></div></div><p><strong>&ldquo;The decision is really grounded in getting closer to our customers,&rdquo;</strong> Gibbs said.</p> </blockquote> <p>Some in Oak Brook have begun to invent conspiracy theories about why McDonald&rsquo;s is moving, including one theory that the company is trying to shake off its lifetime employees in Oak Brook in favor of hiring cheaper and younger urban workers.</p> <blockquote><div class="quote_start"><div></div></div><div class="quote_end"><div></div></div><p>&ldquo;<strong>The site of the new headquarters, being built in place of the studio where Oprah Winfrey&rsquo;s show was filmed, is in Fulton Market, a bustling neighborhood filled with new apartments and some of the city&rsquo;s most highly rated new restaurants.</strong></p> <p>&nbsp;</p> <p>Bushy and others in Oak Brook wondered aloud if part of the reasoning for the relocation was to effectively get rid of the employees who have built lives around commuting to Oak Brook and may not follow the company downtown. Gibbs said that was not the intention.</p> <p>&nbsp;</p> <p><strong>&lsquo;Our assumption is not that some amount [of our staff] will not come. Some may not. In some ways that&rsquo;s probably some personal decision. I think we&rsquo;ve got a workforce that&rsquo;s actually quite excited with the move,&rsquo;</strong> he said.&rdquo;</p> </blockquote> <p>Despite Chicago&rsquo;s rapidly rising murder rate and one would think its reputation as an indebted, crime-ridden metropolis would repel companies looking for a new location for their headquarters. But crime and violence rarely penetrate Chicago&rsquo;s tony neighborhoods like the Loop, where most corporate office space is located.</p> <blockquote><div class="quote_start"><div></div></div><div class="quote_end"><div></div></div><p>&ldquo;Chicago&rsquo;s arrival as a magnet for corporations belies statistics that would normally give corporate movers pause. High homicide rates and concerns about the police department have eroded Emanuel&rsquo;s popularity locally, but those issues seem confined to other parts of the city as young professionals crowd into the Loop, Chicago&rsquo;s lively central business district.</p> <p>&nbsp;</p> <p><strong>Chicago has been ranked the No. 1 city in the United States for corporate investment for the past four years by Site Selection Magazine, a real estate trade publication.</strong></p> <p>&nbsp;</p> <p>Emanuel said crime is not something executives scouting new offices routinely express concerns about. Rather, he touts data points such as 140,000 &mdash; the number of new graduates local colleges produce every year.</p> <p>&nbsp;</p> <p><strong>&ldquo;Corporations tell me the number one concern that they have &mdash; workforce,&rdquo; </strong>he said.&quot;</p> </blockquote> <p>Chicago Mayor Rahm Emanuel said the old model, where executives chose locations near where they wanted to live has been upturned by the growing influence of technology in nearly every industry. Years ago, IT operations were an afterthought. Now, people with such expertise are driving top-level corporate decisions, and many of them prefer to live in cities.</p> <blockquote><div class="quote_start"><div></div></div><div class="quote_end"><div></div></div><p>&ldquo;It used to be the IT division was in a back office somewhere,&rdquo; Emanuel said. &ldquo;The IT division and software, computer and data mining, et cetera, is now next to the CEO. Otherwise, that company is gone.&rdquo;<br />&nbsp;</p> </blockquote> <div class="field field-type-filefield field-field-image-teaser"> <div class="field-items"> <div class="field-item odd"> <img class="imagefield imagefield-field_image_teaser" width="762" height="477" alt="" src="http://www.zerohedge.com/sites/default/files/images/user245717/imageroot/2017.07.18mcdonalds.JPG?1500749752" /> </div> </div> </div> http://www.zerohedge.com/news/2017-07-22/companies-leave-suburbia-small-towns-face-dire-financial-trouble#comments Business CAT Caterpillar Inc. Chicago data mining Donald Trump Fast food worker strikes Geography of Illinois Hamburger University Illinois June Martino New York City Oak Brook, Illinois Peoria, Illinois Rahm Emanuel Ray Kroc Real estate Robert Gibbs White House White House Sat, 22 Jul 2017 23:03:00 +0000 Tyler Durden 600281 at http://www.zerohedge.com Billions Of Lives At Stake As China Threatens India With War After "Blatant Sovereignty Infringement" http://www.zerohedge.com/news/2017-07-22/billions-lives-are-stake-china-threatens-india-war <p><a href="http://www.shtfplan.com/headline-news/billions-of-lives-are-at-stake-as-china-threatens-india-with-war_07192017"><em>Authored by Mac Slavo via SHTFplan.com,</em></a></p> <p><strong>It could be argued that there&rsquo;s never been a time in history, where so many Americans thought that we were on the brink of another major war. </strong>If you pay attention to the constant news stream of stories regarding Syria, North Korea, or Russia, you&rsquo;d be hard pressed to deny it. In fact, <a href="https://uk.news.yahoo.com/war-under-trump-80-percent-165931938.html" target="_blank">a recent poll found</a> that 76% of Americans are worried that another war will break out in the next 4 years, and 80% were afraid that we could be embroiled in a conflict with North Korea in the near future.</p> <p>There&rsquo;s no doubt that Americans are fraught with fear over the thought that a new war is on the horizon, especially if that war could lead to another global conflict. But most Americans forget that the world doesn&rsquo;t revolve around them. They worry a lot about their nation engaging in another world war, but they forget that there are several powerful nations that could spark a global conflagration without America&rsquo;s input.</p> <p><a href="http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2017/07/16/20170722_china.jpg"><img height="250" src="http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2017/07/16/20170722_china.jpg" width="442" /></a></p> <p><em><span style="text-decoration: underline;"><strong>Among them are China and India, who have been engaged in a border dispute for decades. <a href="https://uk.news.yahoo.com/china-ready-apos-war-apos-160735110.html" target="_blank">That dispute has flared up once again</a>, as China hurls threats of war with India.</strong></span></em></p> <blockquote><div class="quote_start"><div></div></div><div class="quote_end"><div></div></div><p class="canvas-atom canvas-text Mb(1.0em) Mb(0)--sm Mt(0.8em)--sm">The ruling Communist Party of China has issued a stern warning to neighboring India, with which it is&nbsp;engaged in a bitter border dispute that has recently seen Chinese live-fire drills and media speculation of extensive Indian military casualties denied by both sides.</p> <p class="canvas-atom canvas-text Mb(1.0em) Mb(0)--sm Mt(0.8em)--sm">&nbsp;</p> <p class="canvas-atom canvas-text Mb(1.0em) Mb(0)--sm Mt(0.8em)--sm">After accusing Indian troops of crossing over the disputed Sikkim border last month, Chinese Communist Party outlet <em>Global Times</em> published a commentary Tuesday urging restraint by both belligerents, but warning that China was prepared to engage India in a battle for the contested land. The piece chalked up the conflict to a greater competition for economic and political dominance between the two leading Asian powers and said that Beijing would amass troops and armaments at the border in anticipation for what could turn into an all-out war.</p> </blockquote> <p class="canvas-atom canvas-text Mb(1.0em) Mb(0)--sm Mt(0.8em)--sm"><strong>This isn&rsquo;t the first time that these two nations have been at each other&rsquo;s throats over their borders.</strong><a href="https://en.wikipedia.org/wiki/Sino-Indian_War"> In 1962 their armies clashed</a>, leading to defeat of the Indian army, and thousands of casualties on both sides. Based on the rhetoric coming out of Beijing&rsquo;s state sponsored media, it appears that China is willing to replicate that conflict. From the Global Times&rsquo;&nbsp;<a href="http://www.globaltimes.cn/content/1056783.shtml" rel="nofollow noopener" target="_blank">op-ed</a>.</p> <blockquote><div class="quote_start"><div></div></div><div class="quote_end"><div></div></div><p class="canvas-atom canvas-text Mb(1.0em) Mb(0)--sm Mt(0.8em)--sm">On June 16, Indian border guards crossed over the Sikkim section of the China-India border to the Chinese side, triggering a face-off with Chinese troops. <strong>India&#39;s action this time is a blatant infringement on China&#39;s sovereignty.&nbsp;&nbsp; </strong></p> <p class="canvas-atom canvas-text Mb(1.0em) Mb(0)--sm Mt(0.8em)--sm">&nbsp;</p> <p class="canvas-atom canvas-text Mb(1.0em) Mb(0)--sm Mt(0.8em)--sm">As the confrontation goes on, China needs to get ready for the face-off becoming a long-term situation and at the same time, needs to maintain a sense of rationality. Within China, there are voices calling for the Indian troops to be expelled immediately to safeguard the country&#39;s sovereignty, while Indian public opinion is clamoring for war with China. However, the two sides need to exercise restraint and avoid the current conflict spiraling out of control.</p> <p class="canvas-atom canvas-text Mb(1.0em) Mb(0)--sm Mt(0.8em)--sm">&nbsp;</p> <p class="canvas-atom canvas-text Mb(1.0em) Mb(0)--sm Mt(0.8em)--sm">&ldquo;China doesn&rsquo;t recognize the land under the actual control of India is Indian territory. Bilateral border negotiations are still ongoing, but the atmosphere for negotiations has been poisoned by India,&rdquo;</p> <p class="canvas-atom canvas-text Mb(1.0em) Mb(0)--sm Mt(0.8em)--sm">&nbsp;</p> <p class="canvas-atom canvas-text Mb(1.0em) Mb(0)--sm Mt(0.8em)--sm"><strong>&ldquo;China doesn&rsquo;t advocate and tries hard to avoid a military clash with India, but China doesn&rsquo;t fear going to war to safeguard sovereignty either, and will make itself ready for a long-term confrontation.&rdquo;</strong></p> </blockquote> <p class="canvas-atom canvas-text Mb(1.0em) Mb(0)--sm Mt(0.8em)--sm"><strong>Of course, if war did break out again between China and India, there would be one significant differences from the Sino-Indian war of 1962. This time around, both nations would have hundreds of nuclear weapons. </strong>And it&rsquo;s possible that Pakistan, another nuclear armed nation that India has fought border disputes with in the past, could also be swept into the conflict. It should go without saying that billions of lives are at stake every time these nations hurl threats of war at each other.</p> <p class="canvas-atom canvas-text Mb(1.0em) Mb(0)--sm Mt(0.8em)--sm">Americans often worry about various geopolitical hotspots that could drag our nation into a world war. <strong>But they shouldn&rsquo;t forget that there are <a href="http://www.shtfplan.com/headline-news/seven-places-where-ww3-could-start-at-any-time-your-best-chance-at-survival-rests-in-your-ability-to-see-it-coming_07302016" target="_blank">plenty of places where another global war</a> could start without our country ever lifting a finger. The whole planet is a powder keg.</strong></p> <div class="field field-type-filefield field-field-image-teaser"> <div class="field-items"> <div class="field-item odd"> <img class="imagefield imagefield-field_image_teaser" width="442" height="250" alt="" src="http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/20170722_china.jpg?1500750706" /> </div> </div> </div> http://www.zerohedge.com/news/2017-07-22/billions-lives-are-stake-china-threatens-india-war#comments China China–India relations Chinese Communist Party Communist Party of China Foreign relations of China Foreign relations of India Government of India India Indian army Indian Army International relations International security Military North Korea Nuclear weapon Politics Sino-Indian War Territorial disputes of China War Sat, 22 Jul 2017 23:00:00 +0000 Tyler Durden 600280 at http://www.zerohedge.com A Complete History Of John McCain Calling For War Around The World http://www.zerohedge.com/news/2017-07-22/complete-history-john-mccain-calling-war-around-world <p><a href="http://geopoliticsalert.com/history-john-mccains-calls-war"><em>Authored by Jim Carey via GeopoliticsAlert.com,</em></a></p> <p><span style="font-weight: 400;">Earlier this week notorious war hawk US Senator John McCain (R-Az) was diagnosed with brain cancer. While the liberal and conservative establishments are sending their regards, <strong><em>Geopolitics Alert</em>&nbsp;instead compiled a list of reasons why we don&rsquo;t care about McCain.</strong></span></p> <p><a href="http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2017/07/16/20170722_mcain.jpg"><img height="300" src="http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2017/07/16/20170722_mcain.jpg" width="588" /></a></p> <p><span style="font-weight: 400;">The list is of course a history of all the instances&nbsp;McCain has called for US-led intervention around the world. There&rsquo;s obviously a long history here, so<em> Geopolitics Alert</em> has&nbsp;<strong>compiled the largest&nbsp;examples from Europe to Asia. We&rsquo;ll start with the obvious wars first.</strong></span></p> <h3><u><strong>Afghanistan and Iraq</strong></u></h3> <p><span style="font-weight: 400;">Obviously every US senator (besides California&rsquo;s Barbara Lee) voted to give president George W. Bush the power to invade Afghanistan following the events of September 11th. However, McCain wasn&rsquo;t happy with just moving to invade Afghanistan. No, he had other targets on his mind as early as the day after the towers fell.</span></p> <p><span style="font-weight: 400;">Despite McCain&rsquo;s </span><a href="http://time.com/3003299/john-mccain-iraq/"><span style="font-weight: 400;">claim in 2014</span></a><span style="font-weight: 400;"> that &ldquo;the Iraq war probably wouldn&rsquo;t have happened&rdquo; if he had won the 2000 Republican primary and then general election, this assertion seems ridiculous. On </span><a href="http://www.politifact.com/truth-o-meter/statements/2008/aug/21/barack-obama/mccains-record-on-iraq-eager-to-attack/"><span style="font-weight: 400;">September 12th 2001</span></a><span style="font-weight: 400;">, McCain appeared on MSNBC presenting&nbsp;a long list of countries he felt were providing a &ldquo;safe harbor&rdquo; to groups like al Qaeda. This list of course included Iraq and several other countries that appear later on this list.</span></p> <h3><u><strong>Syria</strong></u></h3> <p><span style="font-weight: 400;">Another country on that 2001 list (of course) was Syria. Now, the Bush regime may have never gotten a chance to continue toppling Mideast countries (thanks to the failure in Iraq and the exposure of that war being sold on lies). But McCain seemingly never lost sight of his hatred for Bashar Al-Assad. </span></p> <p><span style="font-weight: 400;">Shortly after the Arab Spring &ldquo;broke out&rdquo; in Syria, McCain &ndash; and his constant partner in war crimes Sen. Lindsey Graham &ndash; quickly found communication channels with the &ldquo;Syrian opposition.&rdquo; Just a few short months after the US endorsed protests in Syria (even </span><a href="http://amp.mcclatchydc.com/news/nation-world/national/national-security/article31019280.html"><span style="font-weight: 400;">having their ambassador attend</span></a><span style="font-weight: 400;">), McCain and Graham began </span><a href="http://thehill.com/policy/defense/211597-mccain-graham-call-for-us-to-arm-syrian-rebels"><span style="font-weight: 400;">calling for arms</span></a><span style="font-weight: 400;"> to start flowing to the Free Syrian Army and other &ldquo;rebel&rdquo; groups. </span></p> <h3><u><strong>Libya</strong></u></h3> <p><span style="font-weight: 400;">McCain&rsquo;s plans for Syria never quite worked the way he wanted but he probably should&rsquo;ve know they would never yield a positive result. If McCain didn&rsquo;t want to look at Iraq to prove that point, he had another more recent example he could&rsquo;ve used: the NATO intervention in Libya.</span></p> <p><span style="font-weight: 400;">It was less than a year before McCain wanted to arm Syrian takfiris that he had supported with the bombing and no fly zones in Libya. McCain even wanted </span><a href="http://www.cnn.com/2011/WORLD/africa/04/22/mccain.libya/index.html"><span style="font-weight: 400;">tougher actions</span></a><span style="font-weight: 400;"> against the country. Which has now become an anarchic Wild West that&rsquo;s home to all sorts of horrors from the Islamic State to a </span><a href="https://www.theguardian.com/world/2017/apr/10/libya-public-slave-auctions-un-migration"><span style="font-weight: 400;">new slave trade</span></a><span style="font-weight: 400;">. </span></p> <h3><u><strong>West and Central Africa</strong></u></h3> <p><span style="font-weight: 400;">McCain</span> <span style="font-weight: 400;">is also a champion of the &ldquo;war on terror&rdquo; in other parts of Africa. While McCain hasn&rsquo;t directly supported terrorists in some countries in Africa, he still has called for more US intervention across the continent.</span></p> <p><span style="font-weight: 400;">This list includes countries dealing with Islamic insurgencies, </span><a href="https://www.washingtonpost.com/opinions/when-john-mccain-makes-a-case-for-war-does-anyone-hear-him/2014/06/18/7d8057a4-f738-11e3-a606-946fd632f9f1_story.html?utm_term=.8534d21c0f04"><span style="font-weight: 400;">such as Mali</span></a><span style="font-weight: 400;">. McCain has also called for plans like &ldquo;</span><a href="http://www.thedailybeast.com/mccain-send-us-special-forces-to-rescue-nigerian-girls"><span style="font-weight: 400;">deploying Special Forces</span></a><span style="font-weight: 400;">&rdquo; to rescue girls kidnapped by Boko Haram in Nigeria and intervention in Sudan, where McCain and his wife have </span><a href="https://thecaucus.blogs.nytimes.com/2008/05/14/cindy-mccain-sells-sudan-investments/"><span style="font-weight: 400;">invested money</span></a><span style="font-weight: 400;"> for some time.</span><strong>&nbsp;</strong></p> <h3><u><strong>Iran</strong></u></h3> <p><span style="font-weight: 400;">Another country on the list of hated nations originally put forth by Bush undersecretary of defense Paul Wolfowitz, and also another long time target of McCain, is of course Iran. </span></p> <p><span style="font-weight: 400;">Although McCain has always said &ldquo;he prays&rdquo; there will never be at war with Iran, the man constantly calls for it and even </span><a href="http://www.cbsnews.com/news/mccains-bomb-iran-joke-draws-fire/"><span style="font-weight: 400;">jokes about</span></a><span style="font-weight: 400;"> bombing the country when he feels the mood is right. The truth of the matter is, McCain&rsquo;s positions towards Iran are so hostile that even flagship neoconservative institutions like the </span><a href="https://www.cato.org/publications/commentary/john-mccain-foreign-policy-even-worse-bush"><span style="font-weight: 400;">Cato Institute</span></a><span style="font-weight: 400;"> think he is too hawkish.</span></p> <h3><u><strong>Bosnia and Kosovo</strong></u></h3> <p><span style="font-weight: 400;">But McCain isn&rsquo;t satisfied with just backing salafi jihadists in the traditional Middle East and North African theaters. He&rsquo;s also backed violent radicals across the fringes of Europe. This trend really started in the mid 1990&rsquo;s when McCain </span><a href="https://mobile.nytimes.com/1996/01/08/news/qajohn-mccain-why-senate-skeptic-backed-bosnia-mission.html?referer="><span style="font-weight: 400;">was a vocal supporter</span></a><span style="font-weight: 400;"> of then president Bill Clinton&rsquo;s war in Bosnia.</span></p> <p><span style="font-weight: 400;">Many of the Muslims traveling&nbsp;to Bosnia joining&nbsp;the mujahideen there have joined groups like IS in recent years. And IS flags can </span><a href="http://www.barenakedislam.com/2015/07/10/the-disaster-that-bill-clinton-created-in-bosnia-by-backing-muslims-against-the-serbs-has-now-become-next-front-for-the-islamic-state-isis-caliphate/"><span style="font-weight: 400;">occasionally be seen</span></a><span style="font-weight: 400;"> in the Sunni areas of Bosnia now. McCain was still backing potential takfiri movements, recently </span><a href="https://www.rferl.org/amp/bosnia-us-senator-mccain-concerned-russia-meddling/28424042.html"><span style="font-weight: 400;">accusing Russia</span></a><span style="font-weight: 400;"> of interfering in local affairs, and calling for more US intervention in the country. </span></p> <p><span style="font-weight: 400;">McCain made similar decisions when he advocated </span><a href="http://www.washingtonpost.com/wp-srv/politics/campaigns/wh2000/stories/mccain040799.htm"><span style="font-weight: 400;">US intervention in Kosovo</span></a><span style="font-weight: 400;"> in the late 90&rsquo;s. In the Kosovo conflict, </span><a href="http://original.antiwar.com/justin/2000/02/25/mccain-and-the-kla-connection/"><span style="font-weight: 400;">McCain backed</span></a><span style="font-weight: 400;"> the Kosovo Liberation Army: a genocidal jihadist organization with </span><a href="http://www.slobodan-milosevic.org/KLA-binladen.htm"><span style="font-weight: 400;">ties to Al Qaeda</span></a><span style="font-weight: 400;"> under Osama Bin Laden.</span></p> <h3><u><strong>Ukraine</strong></u></h3> <p><span style="font-weight: 400;">Don&rsquo;t be fooled into thinking that McCain only supports jihadists in Eastern Europe though! He also </span><a href="http://www.alternet.org/grayzone-project/john-mccain-and-paul-ryan-hold-good-meeting-veteran-ukrainian-nazi-demagogue-andriy"><span style="font-weight: 400;">backs the overt Nazis</span></a><span style="font-weight: 400;"> acting as death squads for Kiev in the ongoing Ukrainian conflict.</span></p> <p><span style="font-weight: 400;">This of course started in 2014, but McCain has </span><a href="http://indianexpress.com/article/world/senator-mccain-says-u-s-stands-with-ukraine-against-russia/"><span style="font-weight: 400;">continued to pledge support</span></a><span style="font-weight: 400;"> for Kiev&rsquo;s crimes in the Donbass region to this day. This is all par for the course in McCain&rsquo;s larger theme of challenging Russia&ndash; the country he believes controls the separatists in eastern Ukraine. </span></p> <h3><u><strong>Russia</strong></u></h3> <p><span style="font-weight: 400;">The story of McCain&rsquo;s hatred of Russia spans back to the Cold War. We won&rsquo;t get into McCain&rsquo;s fear of communism that&rsquo;s evolved into just general Russophobia. But we will say he didn&rsquo;t have many excuses to focus on making threats towards Moscow for a good 15-20 year stretch.</span></p> <p><span style="font-weight: 400;">This changed in 2008, with the war in South Ossetia between Georgia and Russia. During this conflict </span><a href="https://www.thenation.com/article/getting-georgias-war/"><span style="font-weight: 400;">McCain was the loudest voice</span></a><span style="font-weight: 400;"> saying the US &ldquo;should immediately call a meeting of the North Atlantic Council to assess Georgia&rsquo;s security and review measures NATO can take to contribute to stabilizing this very dangerous situation.&rdquo; </span></p> <p><span style="font-weight: 400;">This same situation repeated in Ukraine in 2014 but McCain&rsquo;s worst comments came this year. As soon as the US Intelligence Community&rsquo;s accused Russia of interference in the 2016 US elections&ndash; and without any evidence&ndash; McCain </span><a href="http://www.washingtonexaminer.com/john-mccain-russian-cyberattacks-an-act-of-war/article/2610654"><span style="font-weight: 400;">was first to say</span></a><span style="font-weight: 400;"> the event was an &ldquo;act of war.&rdquo;</span></p> <h3><u><strong>North Korea</strong></u></h3> <p><span style="font-weight: 400;">The Democratic People&rsquo;s Republic of Korea (DRPK/North Korea) was also an early target of McCain&rsquo;s making&nbsp;his September 12th wish list. More recently though, the restyled &ldquo;Trump opponent&rdquo; McCain was all-in on the new regime&rsquo;s saber rattling. Calling on Trump to </span><a href="https://www.express.co.uk/news/world/798910/Trump-consider-North-Korea-Strikes-senior-senator-John-McCain/amp"><span style="font-weight: 400;">strike the nuclear armed country</span></a><span style="font-weight: 400;">. </span></p> <h3><u><strong>Bonus: China</strong></u></h3> <p><span style="font-weight: 400;">China is kind of in its own class with McCain, who&rsquo;s made </span><a href="https://rendezvous.blogs.nytimes.com/2012/02/05/the-arab-spring-is-coming-to-china/"><span style="font-weight: 400;">strange vague threats</span></a><span style="font-weight: 400;"> towards the country in the past. Such as &ldquo;the Arab spring is coming to China,&rdquo; whatever that means. China may be a target on the periphery for McCain but he does still encourage antagonizing the country to this day.&nbsp;</span><a href="http://mobile.abc.net.au/news/2017-05-30/south-china-sea-exercises-an-opportunity-to-challenge-china/8574056?pfmredir=sm"><span style="font-weight: 400;">Calling for things</span></a><span style="font-weight: 400;"> like more &ldquo;freedom of navigation drills&rdquo; and other naval exercises in the South China Sea.</span></p> <p><span style="font-weight: 400;">*&nbsp; *&nbsp; *</span></p> <p><span style="font-weight: 400;">So, in summation,<strong> next time someone asks why you don&rsquo;t care about John McCain&rsquo;s clock running out, show them this article.</strong> McCain has encouraged the spread of death worldwide. <strong>The day he leaves congress will be a victory for the human race. </strong></span></p> <div class="field field-type-filefield field-field-image-teaser"> <div class="field-items"> <div class="field-item odd"> <img class="imagefield imagefield-field_image_teaser" width="588" height="300" alt="" src="http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/20170722_mcain.jpg?1500744592" /> </div> </div> </div> http://www.zerohedge.com/news/2017-07-22/complete-history-john-mccain-calling-war-around-world#comments Afghanistan Cato Institute Central Africa China Eastern Europe Iran Iraq John McCain Kosovo Liberation Army Middle East MSNBC North Atlantic Council North Korea Political positions of John McCain Politics Senate career of John McCain, 2001–2014 Ukraine USS John S. McCain Sat, 22 Jul 2017 22:00:00 +0000 Tyler Durden 600275 at http://www.zerohedge.com "I Have Taken A Closer Look At The Data From EIA...": Why Horseman Global Is Aggressively Shorting Shale http://www.zerohedge.com/news/2017-07-22/i-have-taken-closer-look-data-eia-why-horseman-global-aggressively-shorting-shale <p>Having staged a dramatic reversal at the end of 2016, when the world's <em>formerly </em>most bearish hedge fund - it was net short over 100% in late 2016, which in turn led to a -24% return last year... </p> <p><a href="http://www.zerohedge.com/sites/default/files/images/user5/imageroot/2017/07/20/horseman%20positions%202.jpg"><img src="http://www.zerohedge.com/sites/default/files/images/user5/imageroot/2017/07/20/horseman%20positions%202_0.jpg" width="500" height="230" /></a></p> <p>... rerisked, turning flat in just a few months, Horseman Global - now short developed markets and long emerging markets, and having lost 8.31% through the end of June - is once again dipping its toes in shorting stocks in general, and shale producers in particular. And, in Russell Clark's latest letter, the Horseman CIO explains why.</p> <p><em><strong>From Horseman Capital Management's July Monthly Newsleter</strong></em></p> <blockquote><div class="quote_start"> <div></div> </div> <div class="quote_end"> <div></div> </div> <p>Your fund made 85bps net last month. Gains came from FX book and long book. </p> <p>&nbsp;</p> <p><a href="http://www.zerohedge.com/sites/default/files/images/user5/imageroot/2017/07/20/horseman%20sectors.jpg"><img src="http://www.zerohedge.com/sites/default/files/images/user5/imageroot/2017/07/20/horseman%20sectors_0.jpg" width="300" height="426" style="float: left; ; margin-right: 10px;" /></a>The big returns in fund management for me always come from finding some perceived wisdom, in which the market so completely believes that its fundamentals are never questioned. <em><strong>Theoretically this should not happen that often, but in my experience, it’s a constant feature of the market</strong></em>. Once you have built a business around an economic proposition you have no financial incentive to question it. </p> <p>&nbsp;</p> <p><strong>The Japan bubble was built on the view that Japanese corporate culture was inherently superior. The Asian financial crisis had its genesis in the view that Asian corporates borrowing in US dollars was risk free. The dot com bubble in the view that all tech stocks would prosper. The financial crisis was built on the view that US house prices could never see a nationwide fall. The European crisis was built on the assumption that all European government bonds were of equal value. And the recent commodity crash was built on the assumption that Chinese consumption and low interest rates made commodities safe. </strong></p> <p>&nbsp;</p> <p>Having grown up, and spent my entire investing career in periods of bubble inflation and deflation<strong>, I am constantly minded to look for where the market is deceiving itself, and then positioning the fund to benefit from the process of realisation.</strong> Many years ago, I could see that the commodity bubble was ending, and Chinese growth was peaking. This meant that commodities would be weaker and inflation lower, making a short commodities, long bond position very effective. It was a great strategy, but its effectiveness ended early last year. </p> <p>&nbsp;</p> <p><strong>The good news is that new market delusion is now apparent to me. </strong>When I moved long emerging markets, and short developed markets, the one commodity I could not give detailed bullish reasons for was oil. <strong>Unlike most other commodities, the oil industry, in the form of US shale drillers has continued to receive investment flows throughout the entire downturn</strong>. </p> <p>&nbsp;</p> <p><strong>I had shorted shale producers and the related MLP stocks before, and I knew there was something wrong with the industry, but I failed to find the trigger for the US shale industry to fail. And like most other investors I was continually swayed by the statements from the US shale drillers that they have managed to cut breakeven prices even further. However, I have taken a closer look at the data from EIA and from the company presentations. </strong>The rising decline rates of major US shale basins, and the increasing incidents of frac hits (also a cause of rising decline rates) have convinced me that <strong>US shale producers are not only losing competitiveness against other oil drillers, but they will find it hard to make money</strong>. If US rates continue to stay low, then it is possible that the high yield markets may continue to supply these drillers with capital, but I think that this is unlikely. <strong>More likely is that at some point debt investors start to worry that they will not get their capital back and cut lending to the industry. </strong>Even a small reduction in capital, would likely lead to a steep fall in US oil production. <strong>If new drilling stopped today, daily US oil production would fall by 350 thousand barrels a day over the&nbsp; </strong></p> <p><strong>next month </strong>(Source: EIA). </p> <p>&nbsp;</p> <p>What I also find extraordinary, is that <strong>it seems to me shale drilling is a very unprofitable industry, and becoming more so. </strong>And yet, many businesses in the US have expended large amounts of capital on the basis that US oil will always be cheap and plentiful. I am thinking of pipelines, refineries, LNG exporters, chemical plants to name the most obvious. Even more amazing is that other oil sources have become more cost competitive but have been starved of resources. If US oil production declines, the rest of the world will struggle to increase output. An oil squeeze looks more likely to me.<strong> A broader commodity squeeze also looks likely to me.</strong></p> </blockquote> <p>In the latest letter's sector allocation, Clark also added the following section providing a more detailed explanation why he has boosted his shale short to 15.5%: </p> <blockquote><div class="quote_start"> <div></div> </div> <div class="quote_end"> <div></div> </div> <p>We are negative on the US shale sector, during the month <strong>we increased the short exposure to oil exploration and MLPs to about 15.5%. </strong>Conventional oil wells typically produce in 3 stages: the start-up rising production stage lasts 2 to 3 years, it is followed by a plateau stage which lasts another 2-3 years and a long declining stage, during which production declines at rates of 1% to 10% per year. These wells generally produce over 15 to 30 years (<em>Source: Planete energies). </em></p> <p>&nbsp;</p> <p>In contrast, production from unconventional / shale wells peaks within a few months after it starts and decreases by about 75% after one year and by about 85% after two years (Source Permian basin, Goldman Sachs). This means that, in order to keep producing, shale producers need to constantly drill new wells. </p> <p>&nbsp;</p> <p>Shale drilling is characterised by drilling horizontally into the layers of rock where hydrocarbons lie. Then hydraulic fracturing which consists of pumping a mixture of water, proppant (sand) and chemicals into the rock at high pressure, allows hydrocarbons to be extracted out to the head of the well.</p> <p>&nbsp;</p> <p><img src="http://www.zerohedge.com/sites/default/files/images/user5/imageroot/2017/07/20/frac%20welkl.jpg" width="390" height="222" /></p> <p>&nbsp;</p> <p><strong>Since 2016, as oil prices rallied, the number of rigs in the Permian basin, which is currently the most sought after drilling area in the US, rose from about 150 to almost 400</strong>. Furthermore, operations have moved into a high intensity phase as wells are drilled closer together, average lateral lengths increased over 80% from 2,687 ft in early 2012 to 4,875 ft in 2016 and the average volume of proppant per lateral foot more has than doubled (Source: Stratas Advisors). </p> <p>&nbsp;</p> <p>Intensive drilling is causing a problem called ‘frac-hits’, which are cross-well interferences. These happen when fracking pressure is accidently transferred to adjacent wells that have less pressure integrity. As a result a failure of pressure control occurs, which reduces production flow. In the worst cases, pressure losses can result in a total loss of production that never returns. <strong>According to a senior reservoir engineer at CNOOC Nexen, frac-hits have now become a top concern, they can affect several wells on a pad along with those on nearby pads (Sources: Journal of Petroleum Technology). </strong></p> <p>&nbsp;</p> <p>A former engineer for Southwestern Energy said that frac-hits are very difficult to predict, the best way to respond is with trial and error and experimenting with well spacing and frac sizes to find the optimal combination. </p> <p>&nbsp;</p> <p><strong>In May Range Resources reported that it was forced to shut wells in order to minimise the impact of frac-hits. This month Abbraxas Petroleum said it will be shutting in several high-volume wells for about a month</strong> (Source: Upstream). </p> <p>&nbsp;</p> <p>In the Permian basin <strong>new well production per rig continued to decline in June, from 617 barrels per day down to 602</strong>. In the meantime<strong>, legacy oil production, which is a function of the number of wells, depletion rates and production outages such as frac hits, is continuing to rise</strong>. (Source: EIA)</p> </blockquote> <p>In light of the above growing short bet on shale, this is how Clark is positioned: </p> <blockquote><div class="quote_start"> <div></div> </div> <div class="quote_end"> <div></div> </div> <p><strong>The analysis leads me to be potentially bearish on bonds, bearish on US shale drillers, but bullish on commodities. </strong>Over the month, <strong>we have added to US shale shorts, while also selling our US housebuilder longs</strong>. We continue to build our US consumer shorts, where <strong>the combination of higher oil prices and higher interest rates should devastate an industry already dealing with oversupply and the entry of Amazon into ever more areas</strong>. The combination of long mining and short shale drillers has the nice effect of reducing volatility, but ultimately offering high returns. The combination of portfolio changes has taken us back to a net short of over 40%. I find market action is supporting my thesis, and the research and analysis is compelling. Your fund remains short developed markets, long emerging markets.</p> </blockquote> <p>While we will have more to say on this, Clark may be on to something: as the following chart from Goldman shows, the number of horizontal rigs funded by public junk bond issuance has not changed in the past 3 months. Is the funding market about to cool dramatically on US shale, and if so, just how high will oil surge?</p> <p><a href="http://www.zerohedge.com/sites/default/files/images/user5/imageroot/2017/07/20/well%20HY%20funded_1.jpg"><img src="http://www.zerohedge.com/sites/default/files/images/user5/imageroot/2017/07/20/well%20HY%20funded_1_0.jpg" width="500" height="352" /></a></p> <div class="field field-type-filefield field-field-image-teaser"> <div class="field-items"> <div class="field-item odd"> <img class="imagefield imagefield-field_image_teaser" width="1022" height="720" alt="" src="http://www.zerohedge.com/sites/default/files/images/user5/imageroot/there%20will%20be%20blood%20teaser_17.jpg?1500759215" /> </div> </div> </div> http://www.zerohedge.com/news/2017-07-22/i-have-taken-closer-look-data-eia-why-horseman-global-aggressively-shorting-shale#comments Bond BP Business Business Economy European government Fail Fracturing goldman sachs Goldman Sachs High Yield Hydraulic fracturing Japan Petroleum Price of oil Shale gas Shale gas in the United States Unconventional oil Volatility Sat, 22 Jul 2017 21:33:38 +0000 Tyler Durden 600286 at http://www.zerohedge.com Democrats Urge Antitrust Action Against Amazon Over Whole Foods Deal http://www.zerohedge.com/news/2017-07-21/dems-urge-ftc-consider-antitrust-action-against-amazon-over-wfm-deal <p>In the wake of their embarrassing electoral defeat in November, Congressional Democrats are turning against the wealthy tech benefactors who bankroll their campaigns. <strong>To wit, a group of 12 Democratic Congressman have signed a letter urging the Department of Justice and the Federal Trade Commission to conduct a more in-depth review of e-commerce giant Amazon.com Inc.&#39;s plan </strong>to buy grocer Whole Foods Market Inc., according to <a href="http://www.reuters.com/article/us-usa-amazon-whole-foods-review-idUSKBN1A62D3?il=0">Reuters.</a></p> <p>Rumblings that Amazon is engaging in monopolistic business practices resurfaced last week when the top Democrat on the House antitrust subcommittee, David Civilline,<a href="http://www.zerohedge.com/news/2017-07-20/amazons-phone-charging-robot-will-spare-you-indignity-talking-strangers"> voiced concerns</a> about Amazon&#39;s $13.7 billion plan to buy Whole Foods Market and urged the House Judiciary Committee to hold a hearing to examine the deal&#39;s potential impact on consumers.</p> <p>Making matters worse for the retailer, <a href="http://www.zerohedge.com/news/2017-07-20/amazons-phone-charging-robot-will-spare-you-indignity-talking-strangers">Reuters reported earlier this week</a> that the FTC is investigating the company for allegedly misleading customers about its pricing discounts, citing a source close to the probe.</p> <p>The letter is at least third troubling sign that lawmakers are turning against Amazon, even as President Donald Trump has promised to roll back regulations, <strong>presumably making it easier for megamergers like the AMZN-WFM tieup to proceed.</strong></p> <p><a href="http://www.zerohedge.com/sites/default/files/images/user245717/imageroot/2017/2017.07.21wfm.JPG"><img alt="" src="http://www.zerohedge.com/sites/default/files/images/user245717/imageroot/2017/2017.07.21wfm_0.JPG" style="width: 500px; height: 327px;" /></a></p> <p>So far, <strong>it&rsquo;s mostly Democrats who are urging the FTC to take &ldquo;a closer look&rdquo; at the deal.</strong> However, some suspect that Amazon founder Jeff Bezo&rsquo;s ownership of the Washington Post &ndash; a media outlet that has published dozens of embarrassing stories insinuating that Trump and his compatriots colluded with Russia to help defeat Democrat Hillary Clinton &ndash; could hurt the company&rsquo;s chances of successfully completing the merger, as its owner has earned the enmity of president Trump. Similar concerns have dogged CNN-owner Time Warner&rsquo;s pending merger with telecoms giant AT&amp;T.</p> <p>In the letter, the group of Democratic lawmakers &ndash; which includes rumored presidential hopeful Cory Booker, the junior senator from New Jersey &ndash; worried that the merger could negatively impact low-income communities. By putting other grocers out of business, the Amazon-backed WFM could worsen the problem of &ldquo;food deserts,&rdquo; areas where residents may have limited access to fresh groceries.</p> <blockquote><div class="quote_start"><div></div></div><div class="quote_end"><div></div></div><p><strong>&quot;While we do not oppose the merger at this time, we are concerned about what this merger could mean for African-American communities across the country already suffering from a lack of affordable healthy food choices from grocers,&quot;</strong> the letter said on Thursday.</p> </blockquote> <p><strong>In the hopes of changing Whole Foods&rsquo; &ldquo;whole paycheck&rdquo; image, Amazon has lobbied Congress to be able to accept food stamps online, and is participating in a pilot program to &ldquo;expand access&rdquo; to fresh food in impoverished communities</strong>. You can read the letter in full below:</p> <blockquote class="twitter-tweet" data-partner="tweetdeck"><p dir="ltr" lang="en"><a href="https://twitter.com/MaxineWaters">@MaxineWaters</a> <a href="https://twitter.com/CoryBooker">@CoryBooker</a> among 12 MoCs w/ concerns re: <a href="https://twitter.com/amazon">@amazon</a>-Whole Foods deal. Read their letter to DOJ/ FTC -&gt; <a href="https://t.co/fYh6kK0Wq9">https://t.co/fYh6kK0Wq9</a> <a href="https://t.co/XZEgH3lv7I">pic.twitter.com/XZEgH3lv7I</a></p> <p>&mdash; Jessica A. Torres (@jessalttorres) <a href="https://twitter.com/jessalttorres/status/888442366998216704">July 21, 2017</a></p></blockquote> <script async src="//platform.twitter.com/widgets.js" charset="utf-8"></script><p>Brian Huseman, Amazon&#39;s vice president of policy, in a letter to Fudge, tried to placate the angry Democrats by assuring them that Amazon intends to address their concerns.</p> <blockquote><div class="quote_start"><div></div></div><div class="quote_end"><div></div></div><p><strong>&quot;&#39;We agree with you that access to food is an important issue for the country, and we share your goal of improving that access,&#39;</strong> Huseman said in the letter.</p> <p>&nbsp;</p> <p>&#39;We deliver low-cost, healthy food to zip codes across the country that before Amazon had limited access to a large selection of high quality foods,&#39; Huseman wrote to Fudge.</p> </blockquote> <p>Huseman also disputed claims that Amazon is anti-competitive, pointing out that Wal-Mart has a larger market share, and added that the company doesn&rsquo;t plan on laying off workers&hellip;despite widely touting its plans to rely on automation &ndash; including special sensors and artificial intelligence &ndash; to eliminate the need for cashiers in it brick-and-mortar grocers.</p> <blockquote><div class="quote_start"><div></div></div><div class="quote_end"><div></div></div><p><strong>&ldquo;Amazon has sought to dispute that it would monopolize the grocery industry.</strong> Wal-Mart Stores Inc currently controls the largest market share.</p> <p>&nbsp;</p> <p>&lsquo;We also do not plan job reductions as part of the acquisition, which if approved would result in a company with a combined less than 3 percent of national grocery sales,&rsquo; Huseman wrote.&rdquo;</p> </blockquote> <p>The letter was released to the public by the United Food and Commercial Workers union, which praised the Democrats plans to fight back against a merger that will likely result (despite Huseman&rsquo;s claims to the contrary) in a sharp reduction in its membership base.</p> <blockquote><div class="quote_start"><div></div></div><div class="quote_end"><div></div></div><p><strong>&ldquo;Political concerns about Amazon&rsquo;s acquisition of Whole Foods are growing for good reason,&rdquo; UFCW President Marc Perrone said on Friday.</strong> &ldquo;Amazon&rsquo;s monopolistic desire to control the retail market and replace good jobs with automation is not only a direct threat to the hard-working men and women at Whole Foods, it&rsquo;s also a direct threat to our economy and consumers.&quot;</p> </blockquote> <p>Amazon and Whole Foods hope to expand access to fresh food, said Brian Huseman, Amazon&#39;s vice president of policy, in a letter to Fudge, also on Thursday.</p> <blockquote><div class="quote_start"><div></div></div><div class="quote_end"><div></div></div><p><strong>&quot;We agree with you that access to food is an important issue for the country, and we share your goal of improving that access,&quot;</strong> Huseman said in the letter.</p> </blockquote> <p>So far, any negative impact on Amazon&rsquo;s shares has been minimal as the broader market remains in rally mode. On Friday, the Nasdaq fell after rising for nine straight days &ndash; stopping just shy of what would&rsquo;ve been its longest winning streak in years.<br />&nbsp;</p> <div class="field field-type-filefield field-field-image-teaser"> <div class="field-items"> <div class="field-item odd"> <img class="imagefield imagefield-field_image_teaser" width="1088" height="711" alt="" src="http://www.zerohedge.com/sites/default/files/images/user245717/imageroot/2017.07.21wfm.JPG?1500680338" /> </div> </div> </div> http://www.zerohedge.com/news/2017-07-21/dems-urge-ftc-consider-antitrust-action-against-amazon-over-wfm-deal#comments Amazon.com Congress Department of Justice Economy of the United States Judiciary Committee Politics Sat, 22 Jul 2017 21:00:00 +0000 Tyler Durden 600260 at http://www.zerohedge.com Veterans' Access To Medical Marijuana Hinges On Monday Vote http://www.zerohedge.com/news/2017-07-22/veterans-access-medical-marijuana-hinges-monday-vote <p><em>Authored by Stars And Stripes&#39; Nikki Wentling via <a href="http://www.military.com/daily-news/2017/07/22/veterans-access-to-medical-marijuana-hinges-on-monday-vote.html">Military.com</a>,</em></p> <p><strong>A measure allowing veterans easier access to medical marijuana garnered bipartisan support in Congress last year and nearly became law. A vote on Monday could be the end of the line this year in another attempt to pass it.</strong></p> <p><a href="http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2017/07/16/20170722_weed.jpg"><strong><img alt="" src="http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2017/07/16/20170722_weed.jpg" style="width: 568px; height: 364px;" /></strong></a></p> <p>The House Rules Committee will soon decide whether to allow Rep. Earl Blumenauer, D-Ore., to offer an amendment to the Department of Veterans Affairs budget on the House floor. <strong>His &quot;Veterans Equal Access&quot; amendment would allow VA doctors to recommend medical marijuana to their veteran patients in states where the drug is legal. </strong>VA providers would also be able to complete veterans&#39; paperwork required by some states to purchase marijuana.</p> <p>If the Rules Committee approves the amendment, Blumenauer will offer it up later next week when the House debates the VA appropriations bill. <strong>If the committee rejects it, the amendment will die before an opportunity for debate.</strong></p> <blockquote><div class="quote_start"><div></div></div><div class="quote_end"><div></div></div><p>&quot;All we&#39;re trying to do is make conversations between veterans and their VA providers about all treatment options more accessible,&quot; Blumenauer said in an emailed statement.</p> <p>&nbsp;</p> <p><strong>&quot;We have Republicans, Democrats, and veterans behind this effort. Our hope is that the Rules Committee will take note of the overwhelming bipartisan support for this amendment, show compassion for our veterans, and give us a vote.&quot;</strong></p> </blockquote> <p><strong>This marks Blumenauer&#39;s fourth time trying to pass the legislation.</strong></p> <p>The amendment failed in the House in 2014 and 2015, but passed 233-189 last year. It was also approved in the Senate, with a vote of 89-8. But during negotiations, the measure was stripped out of the VA appropriations bill by a conference committee established to reconcile differences between the House and Senate versions.</p> <p>In 2016, the Veterans Equal Access amendment didn&#39;t have to go through the Rules Committee. The additional step this year is mandatory for all amendments to the VA appropriations bill.</p> <blockquote><div class="quote_start"><div></div></div><div class="quote_end"><div></div></div><p><strong>&quot;We feel this should be a priority, given the support for it in the past,&quot; </strong>said Nicole L&#39;Esperance, communications director for Blumenauer.</p> </blockquote> <p>The Veterans Equal Access amendment recently progressed in the Senate.</p> <p>The Senate Appropriations Committee voted 24-7 on July 13 to include the amendment in that chamber&#39;s VA appropriations bill. Sen. Steve Daines, R-Mont., and Sen. Jeff Merkley, D-Ore., offered the amendment.</p> <blockquote><div class="quote_start"><div></div></div><div class="quote_end"><div></div></div><p><strong>&quot;To not enable an individual to have the conversation with their doctor about the pros and cons of this potential remedy is to take away a dialogue important to a veteran&#39;s health,&quot; </strong>Merkley said.</p> <p>&nbsp;</p> <p>&quot;It&#39;s important we pass this here and make sure it survives conference committee and goes to the president. <strong>Let&#39;s take this opportunity to stand up for our soldiers.</strong>&quot;</p> </blockquote> <p>Daines&#39; and Merkley&#39;s states are two of the 29 in the country that permit some form of cannabis use. Daines said the restrictions on the VA from discussing marijuana were a &quot;violation of veterans&#39; rights to talk openly and freely with their doctor.&quot;</p> <blockquote><div class="quote_start"><div></div></div><div class="quote_end"><div></div></div><p><strong>&quot;When a veteran in Montana walks into a VA facility, they can&#39;t discuss all the options available to them, but they can discuss them at the non-VA facility next door,&quot; </strong>Daines said.</p> </blockquote> <p>More veterans are rallying behind marijuana as a potential treatment for service-connected health problems such as post-traumatic stress disorder and chronic pain, and they see it as an alternative to addictive opioids.</p> <p><strong>The American Legion, which has a membership of 2.2 million veterans, decided last August that it would advocate to remove marijuana from the list of Schedule I drugs, which, along with heroin, LSD and Ecstasy, are designated as having no medical use.</strong> Reclassifying marijuana would remove barriers for scientific research.</p> <p>The American Legion is attempting to wield some of its political influence with Congress, the VA and President Donald Trump.</p> <p>In May, VA Secretary David Shulkin said at the White House that he was open to looking at -- and learning from -- any evidence marijuana could be used to treat veterans.</p> <blockquote><div class="quote_start"><div></div></div><div class="quote_end"><div></div></div><p><strong>&quot;I believe everything that could help veterans should be debated by Congress and medical experts,&quot;</strong> Shulkin said.</p> <p>&nbsp;</p> <p>&quot;If there is compelling evidence that is helpful, I hope the people look at this and come up with a right decision, and we will implement that. There may be some evidence this is beginning to be helpful.&quot;</p> </blockquote> <div class="field field-type-filefield field-field-image-teaser"> <div class="field-items"> <div class="field-item odd"> <img class="imagefield imagefield-field_image_teaser" width="568" height="364" alt="" src="http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/20170722_weed.jpg?1500743789" /> </div> </div> </div> http://www.zerohedge.com/news/2017-07-22/veterans-access-medical-marijuana-hinges-monday-vote#comments American Legion Congress Department of Veterans Affairs Donald Trump Health House Rules Committee Jeff Merkley Military Construction and Veterans Affairs and Related Agencies Appropriations Act Politics Politics of the United States Rohrabacher–Farr amendment Rules Committee Senate Senate Appropriations Committee Social Issues Steve Daines United States United States Department of Veterans Affairs United States Senate Committee on Appropriations White House White House Sat, 22 Jul 2017 20:30:00 +0000 Tyler Durden 600274 at http://www.zerohedge.com