- Clinton aides sometimes blocked release of documents requested under public-records law (WSJ)
- House Benghazi panel subpoenas former Clinton White House aide (Reuters)
- Cash Crunch, for Many, Is a Monthly Woe (WSJ)
- Doubts over Greece add to euro's ECB-driven frailty (Reuters)
- For Many American States, It's Like the Recession Never Ended (BBG)
- Japan debt plan needs BOJ to keep rates low for years (Reuters)
- Euro Continues to Fall; European Bonds, Stocks Broadly Steady (WSJ)
- Los Angeles gives preliminary approval to $15 minimum wage (Reuters)
In a remarkable step up the cyber attack accusation ladder compared to last year's attempt to blame North Korea for cyber-sabotaging James Franco and Seth Rogen, the US now claims a sophisticated network of Chinese hackers has been stealing sesnsitive data from Penn State's engineering department for two years. Meanwhile, officials say China may be sending in "legions" of operatives disguised as graduate students to steal US military secrets.
Satellite images dated October 2014 appear to show a battery of six ZPU-4s lined up in front of "some sort of downrange targets" just outside of Pyongyang, suggesting that executions by anti-aircraft gun may not be all that uncommon in North Korea and reinforcing the following message: "No napping."
There was some confusion what caused the fallout between North Korean leader Kim Jong Un and his defense minister, Hyon Yong Chol. According to Reuters Chol was charged with treason, including disobeying Kim. According to Bloomberg, his offense was more trivial: he fell asleep. The defense minister "was captured napping in video footage of the event late last month." Whichever one is true is irrelevant, but one thing is certain: nobody will ever be caught napping at official events ever again because Chol was executed in front of an anti-aircraft gun at a firing range.
- Marchers protest police violence in Baltimore, New York (Reuters)
- Majority of Financial Pros Now Say Greece Is Headed for Euro Exit (BBG)
- Greece signals concessions in crunch talks with lenders (Reuters)
- Greece, Euro-Area Partners Target Deal by Sunday (BBG)
- Iglesias Says EU Risking Right-Wing Backlash With Greek Pressure (BBG)
- Student-Loan Surge Undercuts Millennials’ Place in U.S. Economy (BBG)
- Majors’ Quandary: Why Drill for Oil When They Can Buy Somebody Else’s? (WSJ)
Nobel Peace Prize-Winning President & Pacifist-Nation Japan PM Explain New Military Assertiveness - Live FeedSubmitted by Tyler Durden on 04/28/2015 12:04 -0400
President Obama and Japanese PM Shinzo Abe are set to explain how great the TPP is and how the renewed military assertiveness is 'peaceful'...
Following meetings with Sec. of State John Kerry, Defense Sec. Ashton Carter, Japanese officials, it appears, have been shown the endgame now that the Keynesian farce is over... As AFP reports, Japan’s military to take on more assertive role, according to Japanese officials as Japan and US bolster their alliance for the first time in 18 years. Noting the alliance "serves as the cornerstone of peace in AsiaPac," and that the Senkakus will fall under protection of this new treaty, we suspect the Chinese will have more than a few things to say about this.
In what appears to be an effort to ensure that James Franco and Seth Rogen are never again sabotaged by evil North Korean hackers, the Pentagon is out with a new plan that explains when it may be necessary to take the cyber fight to the “aggressors” in order to “mitigate potential cyberrisk to the US homeland.” Unsurprisingly, the list of cyber adversaries is indistinguishable from what might fairly be called Washington’s “usual suspects.” The villains are: Russia, Iran, China, and North Korea.
- Obama’s Drone-Strike Rules to Be Reviewed (WSJ)
- Hostage locations difficult to track - and may be getting harder (Reuters)
- Varoufakis Said to Take Hammering From Riled EU Ministers (BBG)
- EU Frustration Mounts as Greeks Try to Bypass Aid Process (BBG)
- Kleiner Perkins seeks almost $1 million in costs in Pao case (Reuters)
- Google Misses, Caps Costs as Growth Slows (WSJ)... stock surges
- Oil prices trade near 2015 highs on Yemen worries (Reuters)
- Pentagon Announces New Strategy for Cyberwarfare (NYT)
- Bloomberg Oil at $65 Seen Freeing 500,000 Barrels From Shale Fracklog (BBG)
- ‘Flash Crash’ Trader Navinder Sarao: It Was Wits, Not Bits (WSJ)
In the simplest of terms, Abenomics was a form of economic warfare. It marked a transition in global Central Banking policy from an era of coordination to an era in which it is each country/ Central Bank for itself.
Jim Rogers: China is The Future, Whether We Like it or Not. What China Means for the World. If North and South Korea Unite Japan will suffer much. Ideas for investment in Myanmar and North Korea.
The Middle East’s ongoing descent into chaos and China’s impending ascendancy to the status of global superpower are just two of the many threats that the US, European Union and Russia all share. Each of these issues should certainly occupy a higher position on their respective agendas than the breakup of Ukraine or the insolvency of Greece. Leaders of all three governments would be well-advised to set aside their differences, or at least to prevent those differences from obstructing cooperation on more important issues. Unlike its predecessor, the Second Cold War will not be bilateral. Today’s world is far more chaotic, kinetic and dangerous than it was fifty years ago.
Previously, Elliott Management's Paul Singer has explained that he believes "there is one risk that stands way above the rest in terms of the scope of potential damage adjusted for the likelihood of occurrence" - an electromagnetic pulse (EMP). Today we dig deeper into that risk... Why are we writing about EMP? Because in any analysis of societal risk, EMP stands all by itself.
A few months ago, Sony used a ridiculous "hacking" publicity stunt to generate some $40 million more in revenues for what would otherwise have been the latest Seth Rogen "comic" flop, in which the film agency blamed North Korea - which has about ten ultramodern 80386 computers in the entire country - for hacking its firewall, a hack which was subsequently revealed to be the result of disgruntled former employee. Fast forward to today, when moments ago CNN reported that Russian hackers which according to left "tell-tale codes and other markers that they believe point to hackers working for the Russian government", had penetrated the White House computer system.
It is impossible to overstate the magnitude of the warfare-state revolution that transformed the federal government and American society after World War II, but modern-day Americans continue to remain convinced that their system of government has never changed in a fundamental way. They continue to play like their governmental system is founded on the same constitutional principles as when the country was founded. It is a supreme act of self-deception. The truth is that America has now had two different governmental systems: One without a national-security apparatus and one with it. It seems to us that it’s a no-brainer as to who was right and which system was better in terms of freedom, privacy, peace, prosperity, and harmony.