Politics https://www.zerohedge.com/terms/politics en Saudi Terrorist Hosted Dinner Party To Watch Mass Shooting Videos Night Before Naval Base Attack https://www.zerohedge.com/political/six-saudis-arrested-and-questioned-after-pensacola-shooting-three-were-filming-attack <span property="schema:name" class="field field--name-title field--type-string field--label-hidden">Saudi Terrorist Hosted Dinner Party To Watch Mass Shooting Videos Night Before Naval Base Attack</span> <div class="field field--name-field-image field--type-image field--label-above"> <div class="field__label">Teaser Image</div> <div class="field__item"> <img property="schema:image" src="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/2019-12/pensacola%20attacker.jpg" width="931" height="524" alt="" typeof="foaf:Image" /> </div> </div> <span rel="schema:author" class="field field--name-uid field--type-entity-reference field--label-hidden"> <a href="/users/tyler-durden">Tyler Durden</a> </span> <span property="schema:dateCreated" content="2019-12-08T01:55:31+00:00" class="field field--name-created field--type-created field--label-hidden">Sat, 12/07/2019 - 20:55</span> <div class="clearfix text-formatted field field--name-body field--type-text-with-summary field--label-above"> <div class="field__label">Body</div> <div property="schema:text" class="field__item"><p><strong><em>Update</em></strong>: The Saudi student who shot and killed three people at a US naval base in Florida <strong>hosted a dinner party the night before the attack where he and others watched videos of mass shootings</strong>, according to the <em>Associated Press</em>, citing a US official.</p> <p>One of the three students at the dinner <strong>recorded the shooting </strong>outside the building at Naval Air Station Pensacola on Friday. According to the report, <strong>two other Saudi students watched from a car</strong>.</p> <p><iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="315" src="https://www.youtube.com/embed/F0h_32H7KSo" width="560"></iframe></p> <p>***</p> <p>Six Saudi nationals were taken into custody for questioning near the Florida naval base where an Air Force trainee - also from Saudi Arabia - opened fire Friday morning, killing three before a sheriff's deputy shot and killed him.</p> <p><a data-image-external-href="" data-image-href="/s3/files/inline-images/pensacola%20naval.jpg?itok=_V-qlb26" data-link-option="0" href="/s3/files/inline-images/pensacola%20naval.jpg?itok=_V-qlb26"><picture><!--[if IE 9]><video style="display: none;"><![endif]--><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/pensacola%20naval.jpg?itok=FGhIrk3d 1x" media="all and (min-width: 1280px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/pensacola%20naval.jpg?itok=FGhIrk3d 1x" media="all and (min-width: 480px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/pensacola%20naval.jpg?itok=FGhIrk3d 1x, https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/pensacola%20naval.jpg?itok=FGhIrk3d 2x" media="all and (min-width: 1024px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/pensacola%20naval.jpg?itok=FGhIrk3d 1x" media="all and (min-width: 768px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_mobile/public/inline-images/pensacola%20naval.jpg?itok=_V-qlb26 1x" type="image/jpeg"></source><!--[if IE 9]></video><![endif]--><img data-entity-type="file" data-entity-uuid="ea3906f0-c4ed-45c1-ad61-5d9590893776" data-responsive-image-style="inline_images" height="281" width="500" src="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/inline-images/pensacola%20naval.jpg" alt="" typeof="foaf:Image" /></picture></a></p> <p>According to the <a href="https://www.nytimes.com/2019/12/06/us/nas-pensacola-shooting.html"><em>New York Times</em></a>, <strong>three of the Saudis were filming the attack</strong>. It is unknown whether they were students at the base, or whether they are connected to the gunman.</p> <a data-image-external-href="" data-image-href="/s3/files/inline-images/alsh.jpg?itok=6wVfZwOX" data-link-option="0" href="/s3/files/inline-images/alsh.jpg?itok=6wVfZwOX"><picture><!--[if IE 9]><video style="display: none;"><![endif]--><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/alsh.jpg?itok=uG4fd9ji 1x" media="all and (min-width: 1280px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/alsh.jpg?itok=uG4fd9ji 1x" media="all and (min-width: 480px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/alsh.jpg?itok=uG4fd9ji 1x, https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/alsh.jpg?itok=uG4fd9ji 2x" media="all and (min-width: 1024px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/alsh.jpg?itok=uG4fd9ji 1x" media="all and (min-width: 768px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_mobile/public/inline-images/alsh.jpg?itok=6wVfZwOX 1x" type="image/jpeg"></source><!--[if IE 9]></video><![endif]--><figure role="group" class="caption caption-img"><img alt="" data-entity-type="file" data-entity-uuid="d4bb756d-0f3a-4c48-a6d2-4a2d026f6707" data-responsive-image-style="inline_images" height="300" src="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/inline-images/alsh.jpg" typeof="foaf:Image" width="500" /><figcaption><em>Mohammed Saeed Alshamrani (via the Daily Mail)</em></figcaption></figure></picture></a> <p>The shooting spanned two floors in a classroom, according to Sheriff David Morgan of Escambia Country. Two deputies were shot in the ensuing gun battle and are expected to recover.</p> <p>The gunman, identified as Saudi Air Force second lieutenant Mohammed Saeed Alshamrani, <strong>used a locally bought Glock 45 9mm handgun with an extended magazine</strong>, and was carrying between four and six more magazines.</p> <p>In his <a href="https://web.archive.org/web/20191206211844/https:/twitter.com/M7MD_SHAMRANI/status/1202930479089037312">last message on Twitter</a> confirmed by <em><a href="https://twitter.com/AFP/status/1203153298607337473?s=20">AFP</a>, </em>Alshamrani wrote<strong> </strong>that America is a <strong>nation of evil</strong>.</p> <blockquote class="twitter-tweet"> <p dir="ltr" lang="fr" xml:lang="fr" xml:lang="fr">Pensacola terrorist's last tweet. <a href="https://t.co/B9qLnYuTwH">pic.twitter.com/B9qLnYuTwH</a></p> — Rising serpent (@rising_serpent) <a href="https://twitter.com/rising_serpent/status/1203116059840172032?ref_src=twsrc%5Etfw">December 7, 2019</a></blockquote> <script async="" src="https://platform.twitter.com/widgets.js" charset="utf-8"></script><p>The FBI is leading the investigation into the incident at Naval Air Station (NAS) Pensacola in Florida, and initially withheld Alshamrani's name.</p> <p>He was allegedly a student enrolled in a Navy training program designed for " immersing international students in our U.S. Navy training and culture " to help "build partnership capacity for both the present and for the years ahead," accoring to <em>Fox News</em>, citing 2017 comments by Cmdr. Bill Gibson, who is the center's officer in charge.</p> <p>"These relationships are truly a win-win for everyone involved," he added at the time.</p> <p>Governor Rick Scott (R-FL) called for a "full review" of the Navy training programs in the wake of the shooting, while investigators have said they are <strong>exploring whether the attack was an act of<em> </em>organized terrorism. </strong></p> <p>"I'm very concerned that the shooter in Pensacola was a foreign national training on a U.S. base. Today, I'm calling for a full review of the U.S. military programs to train foreign nationals on American soil. We shouldn't be providing military training to people who wish us harm," said Scott.</p> <blockquote> <p>Defense Secretary Mark Esper told reporters Friday that although his first priority is supporting the ongoing investigation and determining the shooter's motives, he also said: "I want to make sure we’re doing our due diligence to understand what are our procedures" concerning the training programs.</p> <p>"<strong>Is it sufficient [et cetera, et cetera] and it may not be -- it may be the vetting -- are we also screening persons coming to make sure that they have, you know, their life in order</strong>, you know, their mental health is adequate," Esper said. "So we need to look at all that."</p> <p>Esper referred to the shooter as a Saudi national who was a second lieutenant in flight training.</p> <p>Sources told Fox News that the scene of the shooting -- a classroom, where students usually spend three months at the beginning of the program -- indicated that <strong>the shooter was a student who was “early” in his training.</strong> -<a href="https://www.foxnews.com/us/saudis-arrested-questioning-pensacola-shooting">Fox News</a></p> </blockquote> <p>Approximately 1,500 pilots are enrolled in the Naval training program - with Saudis having attended courses at the Pensacola site since the 1970s. According to the report, as many as <strong>20 students from the Islamic Republic are in any given class</strong> - with many of them belonging to the Royal Family.</p> <p>Following the shooting, the Saudi Arabian Ministry of Foreign Affairs conveyed "its deep distress," offering "its sincere condolences to the victims' families, and wishes the injured a speedy recovery."</p> <p>"<strong>The perpetrator of this horrific attack does not represent the Saudi people whatsoever.</strong> The American people are held in the highest regard by the Saudi people," reads a statement from the Ministry. "Building upon the strong ties between the Kingdom of Saudi Arabia and the United States of America, and in continuation of the ongoing cooperation between the two countries’ security agencies, the Saudi security agencies will provide full support to the US authorities to investigate the circumstances of this crime."</p> <p>President Trump, meanwhile, relayed King Salman of Saudi Arabia's "sincere condolences," and gave his "sympathies to the families and friends of the warriors who were killed and wounded in the attack..."</p> <p>"The King said that the Saudi people are greatly angered by the barbaric actions of the shooter, and that this person in no way shape or form represents the feelings of the Saudi people who love the American people," said Trump.</p> </div> </div> Sun, 08 Dec 2019 01:55:31 +0000 Tyler Durden 655995 at https://www.zerohedge.com How The Dems & The Fed Ensured Trump's Re-Election https://www.zerohedge.com/political/how-dems-fed-ensured-trumps-re-election <span property="schema:name" class="field field--name-title field--type-string field--label-hidden">How The Dems &amp; The Fed Ensured Trump&#039;s Re-Election</span> <div class="field field--name-field-image field--type-image field--label-above"> <div class="field__label">Teaser Image</div> <div class="field__item"> <img property="schema:image" src="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/2019-12/40246456-15757024993497891.png" width="548" height="335" alt="" typeof="foaf:Image" /> </div> </div> <span rel="schema:author" class="field field--name-uid field--type-entity-reference field--label-hidden"> <a href="/users/tyler-durden">Tyler Durden</a> </span> <span property="schema:dateCreated" content="2019-12-08T00:30:11+00:00" class="field field--name-created field--type-created field--label-hidden">Sat, 12/07/2019 - 19:30</span> <div class="clearfix text-formatted field field--name-body field--type-text-with-summary field--label-above"> <div class="field__label">Body</div> <div property="schema:text" class="field__item"><p><a href="https://econimica.blogspot.com//2019/12/how-dems-federal-reserve-ensured-trumps.html"><em>Authored by Chris Hamilton via Econimica blog,</em></a></p> <p>The story I'm not hearing...</p> <blockquote> <p><strong>July 31...Debt Ceiling Deal</strong> - July 31st of this year, Senate Democrats carried President Trump's budget deal eliminating the debt ceiling through July 31st of 2021.  This after a majority of Trump's House Republicans voted against the budget deal but House Democrats overwhelmingly passed it.  And thus the debt ceiling was no more.  <u>Since July 31st, the Treasury has issued over $1 trillion in net new debt but that is just the start</u>.</p> <p><strong>July 31...Federal Reserve begins series of interest rate cuts -</strong> On July 31st, the Federal Reserve begins cutting rates and has cut rates from 2.4% to 1.55% or a 35% reduction on the cost of overnight intra-bank lending, the foundation of credit.</p> <p><strong>August 21.. Federal Reserve restarts QE</strong> -  Since August, the Fed ceased quantitative tightening (QT) and restarted quantitative easing (QE).  The Federal Reserve balance sheet has expanded by over $300 billion in short order, with an $180 billion increase in Treasuries held.</p> <p><strong>Excess Reserves<em> Not</em> Restarted -</strong> With all the new QE, hardly any of it has been added to bank excess reserves...just a paltry $16 billion out of the $306 billion in new currency digitally conjured.</p> <p><strong>Direct Monetization -</strong> That is $290 billion in new dollars directly in banks hands...and banks do what banks do, which is leverage those dollars by 5x's to 10x's (or more), resulting in...</p> <p><strong>Asset Explosion</strong> - Using the Wilshire 5000 as a proxy (as it represents all publicly traded US equities), US equities have risen $2.42 trillion over the 4 month period as all the new digitally conjured cash has been passed to large banks for the "assets" they held...or about a 8.5x the quantity of new "not QE" and "not excess reserves".</p> </blockquote> <p><em><u><strong>What does that look like?</strong></u></em></p> <p>In dollar terms over the past four months, US debt up over $1 trillion, Federal Reserve held assets up over $300 billion, Fed held Treasuries up $180 billion, Excess Reserves up only $16 billion, direct monetization of $270 billion...resulting in an increase of $2.4 trillion in the Wilshire 5000 market weighted capitalization (chart below).</p> <p><a data-image-external-href="" data-image-href="/s3/files/inline-images/40246456-15756960285631404.png?itok=Z6edF0Nt" data-link-option="0" href="/s3/files/inline-images/40246456-15756960285631404.png?itok=Z6edF0Nt"><picture><!--[if IE 9]><video style="display: none;"><![endif]--><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/40246456-15756960285631404.png?itok=DnrKLUI8 1x" media="all and (min-width: 1280px)" type="image/png"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/40246456-15756960285631404.png?itok=DnrKLUI8 1x" media="all and (min-width: 480px)" type="image/png"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/40246456-15756960285631404.png?itok=DnrKLUI8 1x, https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/40246456-15756960285631404.png?itok=DnrKLUI8 2x" media="all and (min-width: 1024px)" type="image/png"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/40246456-15756960285631404.png?itok=DnrKLUI8 1x" media="all and (min-width: 768px)" type="image/png"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_mobile/public/inline-images/40246456-15756960285631404.png?itok=Z6edF0Nt 1x" type="image/png"></source><!--[if IE 9]></video><![endif]--><img data-entity-type="file" data-entity-uuid="83c9ebba-f9f5-427c-a664-b531e4e0d358" data-responsive-image-style="inline_images" height="314" width="500" src="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/inline-images/40246456-15756960285631404.png" alt="" typeof="foaf:Image" /></picture></a></p> <p>In percentage terms in just four months, total US debt is up 4.8%, Federal Reserve held assets up over 8%, Fed held Treasuries up 8.6%, excess reserves up just 1.2%, direct monetization up over 18%, and equities up over 8% (chart below). </p> <p><a data-image-external-href="" data-image-href="/s3/files/inline-images/40246456-15756963242405393.png?itok=qX99S9mU" data-link-option="0" href="/s3/files/inline-images/40246456-15756963242405393.png?itok=qX99S9mU"><picture><!--[if IE 9]><video style="display: none;"><![endif]--><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/40246456-15756963242405393.png?itok=Opy8ba5m 1x" media="all and (min-width: 1280px)" type="image/png"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/40246456-15756963242405393.png?itok=Opy8ba5m 1x" media="all and (min-width: 480px)" type="image/png"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/40246456-15756963242405393.png?itok=Opy8ba5m 1x, https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/40246456-15756963242405393.png?itok=Opy8ba5m 2x" media="all and (min-width: 1024px)" type="image/png"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/40246456-15756963242405393.png?itok=Opy8ba5m 1x" media="all and (min-width: 768px)" type="image/png"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_mobile/public/inline-images/40246456-15756963242405393.png?itok=qX99S9mU 1x" type="image/png"></source><!--[if IE 9]></video><![endif]--><img data-entity-type="file" data-entity-uuid="05a7272a-ddc8-4505-bf52-2d1cbdb0bef8" data-responsive-image-style="inline_images" height="314" width="500" src="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/inline-images/40246456-15756963242405393.png" alt="" typeof="foaf:Image" /></picture></a></p> <p>Not shown is in addition to all this, the Federal Funds rate was also reduced by 35%.</p> <h3><u><strong>Summary</strong></u></h3> <p>Trump and the Democrats agreed to spend without limits, Trump and the Federal Reserve agreed to QE4 and mainlining the digitally created cash into the economy (errr...financial assets) via direct monetization.  The result has been to massively enrich the few who own the vast majority of all assets which are surging upwards and pass all the debt along to the working stiffs.</p> <p>Trump is truly an evil genius...Dem's are truly self serving dolts...and the Fed is truly the best central bank money can buy.  Or the Fed is the evil genius, Dem's still self serving dolts, and Trump is the best president money can buy.  Either way, Trump, the Democrats, Republicans, and the ultra-wealthy are laughing all the way to the bank. And the vast majority of Americans have been sold into debt slavery.</p> <h3><u><strong>Post Script - Context</strong></u></h3> <p>And for those who stuck around, I'll try and put the above in a wider context.  The chart below details why this is the greatest asset bubble in modern history.  The chart shows the market value of all household assets (stocks, bonds, real estate, etc.) as a percentage of disposable personal income (simply put, the value of all assets held by US citizens versus their total national income that may be invested or saved after all taxes are paid).  As the chart below details, as rates go up, asset valuations go down...and vice versa.  And never have asset valuations been so far beyond underlying incomes to support those valuations as now.</p> <p><a data-image-external-href="" data-image-href="/s3/files/inline-images/40246456-15757012398955975.png?itok=qJObUjo8" data-link-option="0" href="/s3/files/inline-images/40246456-15757012398955975.png?itok=qJObUjo8"><picture><!--[if IE 9]><video style="display: none;"><![endif]--><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/40246456-15757012398955975.png?itok=qp7TXS74 1x" media="all and (min-width: 1280px)" type="image/png"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/40246456-15757012398955975.png?itok=qp7TXS74 1x" media="all and (min-width: 480px)" type="image/png"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/40246456-15757012398955975.png?itok=qp7TXS74 1x, https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/40246456-15757012398955975.png?itok=qp7TXS74 2x" media="all and (min-width: 1024px)" type="image/png"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/40246456-15757012398955975.png?itok=qp7TXS74 1x" media="all and (min-width: 768px)" type="image/png"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_mobile/public/inline-images/40246456-15757012398955975.png?itok=qJObUjo8 1x" type="image/png"></source><!--[if IE 9]></video><![endif]--><img data-entity-type="file" data-entity-uuid="c419041f-1e56-4cd5-8e6d-6984cae0168f" data-responsive-image-style="inline_images" height="262" width="500" src="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/inline-images/40246456-15757012398955975.png" alt="" typeof="foaf:Image" /></picture></a></p> <p>Since 1981, household assets as a percentage of disposable personal income versus federal funds rate with primary sources of debt detailed below.  The breakdown of mortgage debt and surge of federal debt since 2008 are not so hard to see.  Plus the Federal Reserve balance sheet is included as those assets will only be increasing from here on out.</p> <p><a data-image-external-href="" data-image-href="/s3/files/inline-images/40246456-15757015859044783.png?itok=ozeF7Wbh" data-link-option="0" href="/s3/files/inline-images/40246456-15757015859044783.png?itok=ozeF7Wbh"><picture><!--[if IE 9]><video style="display: none;"><![endif]--><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/40246456-15757015859044783.png?itok=so8plLE3 1x" media="all and (min-width: 1280px)" type="image/png"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/40246456-15757015859044783.png?itok=so8plLE3 1x" media="all and (min-width: 480px)" type="image/png"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/40246456-15757015859044783.png?itok=so8plLE3 1x, https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/40246456-15757015859044783.png?itok=so8plLE3 2x" media="all and (min-width: 1024px)" type="image/png"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/40246456-15757015859044783.png?itok=so8plLE3 1x" media="all and (min-width: 768px)" type="image/png"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_mobile/public/inline-images/40246456-15757015859044783.png?itok=ozeF7Wbh 1x" type="image/png"></source><!--[if IE 9]></video><![endif]--><img data-entity-type="file" data-entity-uuid="9e96b3c9-23af-41d3-a909-fee10530a8be" data-responsive-image-style="inline_images" height="263" width="500" src="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/inline-images/40246456-15757015859044783.png" alt="" typeof="foaf:Image" /></picture></a></p> <p>Debt creation by periods, 1960 through 2000, 2000 through 2008, and 2008 through 2019.  Relatively stable corporate debt creation, collapsing mortgage debt, and surging federal debt.  And collapsing mortgage debt and surging federal debt is only just getting started, because...</p> <p><a data-image-external-href="" data-image-href="/s3/files/inline-images/40246456-1575701771103525.png?itok=peC7Wkjc" data-link-option="0" href="/s3/files/inline-images/40246456-1575701771103525.png?itok=peC7Wkjc"><picture><!--[if IE 9]><video style="display: none;"><![endif]--><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/40246456-1575701771103525.png?itok=a8HI_-Jl 1x" media="all and (min-width: 1280px)" type="image/png"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/40246456-1575701771103525.png?itok=a8HI_-Jl 1x" media="all and (min-width: 480px)" type="image/png"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/40246456-1575701771103525.png?itok=a8HI_-Jl 1x, https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/40246456-1575701771103525.png?itok=a8HI_-Jl 2x" media="all and (min-width: 1024px)" type="image/png"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/40246456-1575701771103525.png?itok=a8HI_-Jl 1x" media="all and (min-width: 768px)" type="image/png"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_mobile/public/inline-images/40246456-1575701771103525.png?itok=peC7Wkjc 1x" type="image/png"></source><!--[if IE 9]></video><![endif]--><img data-entity-type="file" data-entity-uuid="80e200df-36b0-4589-91a4-ce27e51d0fac" data-responsive-image-style="inline_images" height="263" width="500" src="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/inline-images/40246456-1575701771103525.png" alt="" typeof="foaf:Image" /></picture></a></p> <p>And finally, why mortgage debt won't be rising anytime soon and all debt creation will be up to the federal government.  The chart below shows the annual change in young (working age) versus elderly...<strong>a surging population of elderly versus huge deceleration of growth among the working age population.  </strong></p> <p><a data-image-external-href="" data-image-href="/s3/files/inline-images/40246456-15757024993497891.png?itok=_YEGI-Yx" data-link-option="0" href="/s3/files/inline-images/40246456-15757024993497891.png?itok=_YEGI-Yx"><picture><!--[if IE 9]><video style="display: none;"><![endif]--><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/40246456-15757024993497891.png?itok=gNdSUuHS 1x" media="all and (min-width: 1280px)" type="image/png"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/40246456-15757024993497891.png?itok=gNdSUuHS 1x" media="all and (min-width: 480px)" type="image/png"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/40246456-15757024993497891.png?itok=gNdSUuHS 1x, https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/40246456-15757024993497891.png?itok=gNdSUuHS 2x" media="all and (min-width: 1024px)" type="image/png"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/40246456-15757024993497891.png?itok=gNdSUuHS 1x" media="all and (min-width: 768px)" type="image/png"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_mobile/public/inline-images/40246456-15757024993497891.png?itok=_YEGI-Yx 1x" type="image/png"></source><!--[if IE 9]></video><![endif]--><img data-entity-type="file" data-entity-uuid="2b7523e0-8112-4e6d-b737-c777808edd9c" data-responsive-image-style="inline_images" height="306" width="500" src="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/inline-images/40246456-15757024993497891.png" alt="" typeof="foaf:Image" /></picture></a></p> <p>Just a reminder, elderly earn and spend half as much as working age persons and "destroy money" via deleveraging while working age persons "create money" via undertaking new loans (debt).  The current and future situation is one of collapsing credit and collapsing money creation as the growth of deflationary elderly overwhelms inflationary working age growth...<strong>and into that entirely predictable situation, steps the Federal government, Federal Reserve, and ludicrous politicians to serve the interests of the few at the expense of the many.</strong></p> </div> </div> Sun, 08 Dec 2019 00:30:11 +0000 Tyler Durden 656003 at https://www.zerohedge.com How To Re-Elect Trump In One Easy Lesson https://www.zerohedge.com/political/how-re-elect-trump-one-easy-lesson <span property="schema:name" class="field field--name-title field--type-string field--label-hidden">How To Re-Elect Trump In One Easy Lesson</span> <div class="field field--name-field-image field--type-image field--label-above"> <div class="field__label">Teaser Image</div> <div class="field__item"> <img property="schema:image" src="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/2019-12/2019-12-05_14-18-34.jpg" width="663" height="439" alt="" typeof="foaf:Image" /> </div> </div> <span rel="schema:author" class="field field--name-uid field--type-entity-reference field--label-hidden"> <a href="/users/tyler-durden">Tyler Durden</a> </span> <span property="schema:dateCreated" content="2019-12-08T00:00:11+00:00" class="field field--name-created field--type-created field--label-hidden">Sat, 12/07/2019 - 19:00</span> <div class="clearfix text-formatted field field--name-body field--type-text-with-summary field--label-above"> <div class="field__label">Body</div> <div property="schema:text" class="field__item"><p><a href="https://moneymaven.io/mishtalk/economics/how-to-re-elect-trump-in-one-easy-lesson-Qcelvupy-kG3YrnzaFV5zw/"><em>Authored by Mike Shedlock via MishTalk,</em></a></p> <p><strong>Radical progressives are up in arms.</strong> Ironically, if Trump wins again,<strong> they will be the reason</strong>...</p> <p><a data-image-external-href="" data-image-href="/s3/files/inline-images/2019-12-05_14-18-34.jpg?itok=A_6__kEq" data-link-option="0" href="/s3/files/inline-images/2019-12-05_14-18-34.jpg?itok=A_6__kEq"><picture><!--[if IE 9]><video style="display: none;"><![endif]--><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/2019-12-05_14-18-34.jpg?itok=Hl2SICBe 1x" media="all and (min-width: 1280px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/2019-12-05_14-18-34.jpg?itok=Hl2SICBe 1x" media="all and (min-width: 480px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/2019-12-05_14-18-34.jpg?itok=Hl2SICBe 1x, https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/2019-12-05_14-18-34.jpg?itok=Hl2SICBe 2x" media="all and (min-width: 1024px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/2019-12-05_14-18-34.jpg?itok=Hl2SICBe 1x" media="all and (min-width: 768px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_mobile/public/inline-images/2019-12-05_14-18-34.jpg?itok=A_6__kEq 1x" type="image/jpeg"></source><!--[if IE 9]></video><![endif]--><img data-entity-type="file" data-entity-uuid="404f6709-3188-4bd4-82e6-01bb7b29700f" data-responsive-image-style="inline_images" height="331" width="500" src="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/inline-images/2019-12-05_14-18-34.jpg" alt="" typeof="foaf:Image" /></picture></a></p> <h3><u><strong>Not Getting It</strong></u></h3> <p>Wall Street Journal writer Jason Riley laments<strong> "<em>Bloomberg's past accomplishments in business and politics are liabilities among today’s Democrats</em>."</strong></p> <p>With that lead-in, <a href="https://www.wsj.com/articles/why-bloombergs-candidacy-is-terminal-11575417708">Riley tries to explain Why Bloomberg’s Candidacy Is Terminal</a>.</p> <blockquote> <p>It isn’t that Mr. Bloomberg doesn’t have a solid record of accomplishments as a private citizen and elected official. He built one of the world’s most successful financial-media companies and is now worth an estimated $54 billion. According to the Chronicle of Philanthropy, last year he donated $767 million to various charities, second only to Amazon’s Jeff Bezos. And as mayor of New York from 2002 to 2013, he oversaw an expansion of school choice for low-income minorities and sharp reductions in violent crime and incarceration.</p> <p>Mr. Bloomberg’s problem is that these past accomplishments in business and politics are liabilities among today’s Democrats. To win the support of teachers unions, Sens. Bernie Sanders and Elizabeth Warren have attacked the charter-school movement that Mayor Bloomberg championed. And the social-justice activists now ascendant in the party are far more interested in racial parity among people arrested than in reducing crime rates and keeping the streets safe. Progressives view the Mike Bloombergs of the world primarily as rhetorical punching bags who should have their wealth confiscated by politicians and then sprinkled among others in society who are considered more deserving.</p> <p>Mr. Bloomberg is very much aligned with today’s Democrats on any number of other issues. He can check off all the right boxes on climate change, tax hikes and gun control, for example. But none of those views distinguish him in the current field or justify his decision to join the race.</p> </blockquote> <h3><u><strong>Pandering to the Radicals</strong></u></h3> <p>Riley is correct that a majority of Democrats don't like Bloomberg.</p> <p>So what?</p> <h3><u><strong>Forget the Base</strong></u></h3> <p>Why appeal to the radicals? Where are they going? I ask the same questions of Republicans and Democrats alike.</p> <p>If given a choice between Biden or Bloomberg vs Trump, Progressives will vote for Biden or Bloomberg.</p> <p>Q: Why?</p> <p>A: Under no circumstances will they vote for Trump.</p> <p>So how is Bloomberg a liability?</p> <h3><u><strong>What About Independents?</strong></u></h3> <p>Independents might easily vote for Biden or Bloomberg. In contrast, they might not easily vote for Kamala Harris or Elizabeth Warren.</p> <p>In fact, Harris and Warren, darlings of the Progressives, might be the only people that Trump could beat.</p> <p>These kinds of honest assessments get me in hot water.</p> <h3><u><strong>Flashback 2008</strong></u></h3> <p>In February of 2008, before Obama even won the nomination, I made this post: <a href="http://globaleconomicanalysis.blogspot.com/2008/02/obama-next-president-of-united-states.html">Obama: The Next President Of The United States</a></p> <p>I discussed "<em>Yes We Can</em>", an excellent campaign slogan, and concluded "<em>Destiny: Barack Obama will be the next president of the United States of America.</em>"</p> <p>It was a political opinion, and a correct one. I didn't even vote for Obama (I did not vote Republican either), but I was accused of being an Obama lover for years.</p> <h3><u><strong>Hot water</strong></u></h3> <p>I am again in hot water today. I responded to a Tweet about Kamala Harris. I called her unqualified.</p> <p>Why? Because, and I explained, I do not believe she can be elected. This of course brought out all sorts of Tweets about me being a racist male, especially from a self-proclaimed black feminist.</p> <h3><u><strong>Both Extremes</strong></u></h3> <p>This post, no doubt will bring attacks from Republicans who believe Trump to be invincible and radical progressives on the other end.</p> <h3><u><strong>Simple Question</strong></u></h3> <p>Q: Why did Trump Win?</p> <p>A: Democrats nominated, Hillary Clinton, the most radical lightning rod at the time. Then Clinton ran what is likely the worst campaign in history.</p> <p>Let's get to the heart of the matter.</p> <h3><u><strong>Republicans Cannot Re-Elect Trump, Democrats Can!</strong></u></h3> <p>Trump has upset so many people, even in his own party, that I believe the only way he can win is if Democrats nominated another lightning rod.</p> <p>At the top of the list are Elizabeth Warren and Kamala Harris.</p> <p>The US simply is not ready for an extreme radical leftist person like Warren.</p> <p>Independents would not vote for her. Independents did vote for Obama, en masse.</p> <p>Merely making such statements gets me in hot water.</p> <p>But It's not my desire to elect another white male boomer fogey. I could care less. I do care about ideas.</p> <h3><u><strong>Candidate Appeal</strong></u></h3> <p><em>I am a staunch anti-war, fiscal conservative, Libertarian, who does not give a damn about race, religion, sex, or age. I believe in equal rights. I also believe in the right to choose. If two women or two men want to get married, I believe it's none of my business.</em></p> <p>If either party nominated such a person, young or old, black or white or purple, I would vote for that person.</p> <p>I believe many independents feel the same way.</p> <p><em>None of these candidates appeal to me. Among other things, Trump fails the fiscal conservative test.</em></p> <h3><u><strong>Electoral Crapshoot</strong></u></h3> <p>Q: Once again, where are the radicals going?</p> <p>A: Nowhere, in both parties. The core will vote core.</p> <p>To win the election then, a candidate must appeal to the middle. Otherwise, it's an electoral crapshoot as Democrats found out with Hillary.</p> <p><strong>So, if Democrats want to help re-elect Trump, they should nominate the most radical person they can find. One of them just backed out. Elizabeth Warren is still in the batter's box.</strong></p> <p>This does not mean I back Biden. I don't. Nor do I back Bloomberg. Nor do I back men.</p> <p><strong><em>I back ideas, not people. Age, race, or sex, does not matter.</em></strong></p> </div> </div> Sun, 08 Dec 2019 00:00:11 +0000 Tyler Durden 655912 at https://www.zerohedge.com Biden And Pelosi Snap On The Same Day, Anti-Impeachment Witness Threatened; What's Going On With Democrats? https://www.zerohedge.com/political/turley-inundated-threats-biden-and-pelosi-snap-same-day-whats-going-democrats <span property="schema:name" class="field field--name-title field--type-string field--label-hidden">Biden And Pelosi Snap On The Same Day, Anti-Impeachment Witness Threatened; What&#039;s Going On With Democrats?</span> <div class="field field--name-field-image field--type-image field--label-above"> <div class="field__label">Teaser Image</div> <div class="field__item"> <img property="schema:image" src="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/2019-12/biden%20pelosi.jpg" width="932" height="498" alt="" typeof="foaf:Image" /> </div> </div> <span rel="schema:author" class="field field--name-uid field--type-entity-reference field--label-hidden"> <a href="/users/tyler-durden">Tyler Durden</a> </span> <span property="schema:dateCreated" content="2019-12-07T23:30:00+00:00" class="field field--name-created field--type-created field--label-hidden">Sat, 12/07/2019 - 18:30</span> <div class="clearfix text-formatted field field--name-body field--type-text-with-summary field--label-above"> <div class="field__label">Body</div> <div property="schema:text" class="field__item"><p>As public support for impeachment continues to fade, Democrats appear to be coming unglued - with rabid outbursts in public, and privately threatening anyone who might derail their ill-advised gambit<em>. </em></p> <p>To wit, George Washington University Law School professor Jonathan Turley says he's been "<strong>inundated with threatening messages</strong>" following his Wednesday testimony in front of the House Judiciary Committee, where he argued that <strong>Democrats have launched a "slipshod impeachment" based on flimsy evidence</strong> against President Trump.</p> <p><a data-image-external-href="" data-image-href="/s3/files/inline-images/turley%201.jpg?itok=TqJ2XtiI" data-link-option="0" href="/s3/files/inline-images/turley%201.jpg?itok=TqJ2XtiI"><picture><!--[if IE 9]><video style="display: none;"><![endif]--><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/turley%201.jpg?itok=6_sUCSkN 1x" media="all and (min-width: 1280px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/turley%201.jpg?itok=6_sUCSkN 1x" media="all and (min-width: 480px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/turley%201.jpg?itok=6_sUCSkN 1x, https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/turley%201.jpg?itok=6_sUCSkN 2x" media="all and (min-width: 1024px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/turley%201.jpg?itok=6_sUCSkN 1x" media="all and (min-width: 768px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_mobile/public/inline-images/turley%201.jpg?itok=TqJ2XtiI 1x" type="image/jpeg"></source><!--[if IE 9]></video><![endif]--><img data-entity-type="file" data-entity-uuid="2fb62c00-1845-40e9-ac61-31c04d32a244" data-responsive-image-style="inline_images" height="315" width="500" src="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/inline-images/turley%201.jpg" alt="" typeof="foaf:Image" /></picture></a></p> <p>"Before I finished my testimony, <strong>my home and office were inundated with threatening messages and demands that I be fired from George Washington University</strong> for arguing that, while a case for impeachment can be made, it has not been made on this record," Turley wrote in a <a href="https://www.zerohedge.com/political/turley-democrats-offering-passion-over-proof-trump-impeachment">Thursday Op-Ed</a>.</p> <p>Turley was the lone expert at Wednesday's hearing to warn Democrats that pushing forward with impeachment would be ill-advised because they can't prove that Trump inappropriately pressured Ukrainian President Volodomyr Zelensky to investigate 2020 Democratic candidate Joe Biden and his son Hunter. Moreover, Zelensky has stated multiple times that there was no pressure, no quid pro quo, and that he didn't know that nearly $400 million in US military aid had been paused until <em>after</em> his discussions with Trump.</p> <p><strong>On edge</strong></p> <p>On the same day that Joe Biden snapped at an Iowa voter who pressed him on his son's sweetheart board seat in Ukraine - calling the man a "damn liar" and challenging him to a push-up contest and an IQ test (<a href="https://www.youtube.com/watch?v=D1j0FS0Z6ho&amp;feature=emb_logo">his go-to, apparently</a>) - House Speaker Nancy Pelosi <strong>bit a reporter's head off</strong> for asking why she hates Trump.</p> <blockquote class="twitter-tweet"> <p dir="ltr" lang="en" xml:lang="en" xml:lang="en">Q: "Do you hate the president?"<a href="https://twitter.com/SpeakerPelosi?ref_src=twsrc%5Etfw">@SpeakerPelosi</a>: "I don't hate anybody…As a Catholic, I resent your using the word hate in a sentence that addresses me. I don't hate anyone…So, don't mess with me when it comes to words like that."<br /><br /> Full video: <a href="https://t.co/l9peY9RTzl">https://t.co/l9peY9RTzl</a> <a href="https://t.co/zpqUaCcVrS">pic.twitter.com/zpqUaCcVrS</a></p> — CSPAN (@cspan) <a href="https://twitter.com/cspan/status/1202622105130549248?ref_src=twsrc%5Etfw">December 5, 2019</a></blockquote> <blockquote class="twitter-tweet"> <p dir="ltr" lang="en" xml:lang="en" xml:lang="en">I'm an Energy / Vibe guy.<br /><br /> How do Democrats FEEL?<br /><br /> Pelosi isn't melting down because she feels like she's winning.<br /><br /> If you've ever won, you know how winners act.<br /><br /> Some are composed and good sportsmen.<br /><br /> Others are "sore winners," they are smug.<br /><br /> Pelosi is shook.</p> — Mike Cernovich (@Cernovich) <a href="https://twitter.com/Cernovich/status/1202693164328337408?ref_src=twsrc%5Etfw">December 5, 2019</a></blockquote> <script async="" src="https://platform.twitter.com/widgets.js" charset="utf-8"></script><p>Meanwhile, a <strong>growing number of Democrats have backed away from impeachment</strong>.</p> <blockquote class="twitter-tweet"> <p dir="ltr" lang="en" xml:lang="en" xml:lang="en">🚨BREAKING🚨<br /><br /> Democrat Jeff Van Drew says he plans to vote against all the articles of impeachment "unless there's something that I haven't seen, haven't heard before." <a href="https://t.co/swsGl9k7Bz">pic.twitter.com/swsGl9k7Bz</a></p> — Benny (@bennyjohnson) <a href="https://twitter.com/bennyjohnson/status/1202714084526972928?ref_src=twsrc%5Etfw">December 5, 2019</a></blockquote> <p>Perhaps Democrats are losing it because they're effectively trapped in their own catch-22, thanks to Rep. Adam Schiff - who hired a former colleague of alleged whistleblower <strong>Eric Ciaramella <a href="https://www.washingtonexaminer.com/news/schiff-hired-former-nsc-colleague-of-alleged-whistleblower-eric-ciaramella-the-day-after-trumps-ukraine-call"><em>the day after the Trump-Ukraine call.</em></a></strong></p> <p>If House Democrats move forward with impeachment, <strong>it will mean a trial in the GOP-controlled Senate, exposing their leading 2020 candidate and his crackhead son to potentially disastrous testimony next year. </strong>We're guessing the Bidens, like several Trump administration officials, will refuse to comply with Congressional subpoenas and instead ask the courts to decide. Not a good look for two guys who supposedly did nothing wrong.</p> <script async="" src="https://platform.twitter.com/widgets.js" charset="utf-8"></script><script async="" src="https://platform.twitter.com/widgets.js" charset="utf-8"></script><p>If Democrats back down from impeachment and instead censure Trump - avoiding a Senate trial which would 'exonerate' Trump, they will look weak for backing down, and exonerate Trump just the same.</p> <p>Nancy Pelosi warned her party that this is exactly what would happen if they pushed forward with impeachment. Now, much like Hunter Biden, they've gone in unprotected and can't pull out. </p> <blockquote class="twitter-tweet"> <p dir="ltr" lang="en" xml:lang="en" xml:lang="en">Today's strong jobs numbers are going to make it even harder for the 31 House Dems in Trump-leaning districts to vote for his impeachment. If Pelosi was wigging out yesterday, imagine her angst today.</p> — Paul Sperry (@paulsperry_) <a href="https://twitter.com/paulsperry_/status/1202993536196632577?ref_src=twsrc%5Etfw">December 6, 2019</a></blockquote> <script async="" src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div> </div> Sat, 07 Dec 2019 23:30:00 +0000 Tyler Durden 655974 at https://www.zerohedge.com How’s That Alternative Reality Working Out For You? https://www.zerohedge.com/geopolitical/hows-alternative-reality-working-out-you <span property="schema:name" class="field field--name-title field--type-string field--label-hidden">How’s That Alternative Reality Working Out For You?</span> <div class="field field--name-field-image field--type-image field--label-above"> <div class="field__label">Teaser Image</div> <div class="field__item"> <img property="schema:image" src="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/2019-12/img_0650.gif" width="500" height="375" alt="" typeof="foaf:Image" /> </div> </div> <span rel="schema:author" class="field field--name-uid field--type-entity-reference field--label-hidden"> <a href="/users/tyler-durden">Tyler Durden</a> </span> <span property="schema:dateCreated" content="2019-12-07T22:11:27+00:00" class="field field--name-created field--type-created field--label-hidden">Sat, 12/07/2019 - 17:11</span> <div class="clearfix text-formatted field field--name-body field--type-text-with-summary field--label-above"> <div class="field__label">Body</div> <div property="schema:text" class="field__item"><p><em>Authored by Robert Gore at <a href="https://straightlinelogic.com/2019/12/06/hows-that-alternative-reality-working-out-for-you-by-robert-gore/">Straight Line Logic,</a></em></p> <p><strong>At the end of <em>1984</em>, Slavery is Freedom, two plus two equals five, and Winston Smith loves Big Brother. </strong>The Party has destroyed Smith’s mind, he embraces whatever narratives it promulgates. The fictive Party has solved the conundrum that bedevils any individual or organization seeking to exercise power: <em><strong>coercion can exact physical compliance and the desired verbalizations, but how do you compel the subjugated to think and believe as you want them to think and believe?</strong></em></p> <p><a data-image-external-href="" data-image-href="/s3/files/inline-images/img_0650.gif?itok=2aEJy47c" data-link-option="0" href="/s3/files/inline-images/img_0650.gif?itok=2aEJy47c"><picture><!--[if IE 9]><video style="display: none;"><![endif]--><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/img_0650.gif?itok=u3KF4I8- 1x" media="all and (min-width: 1280px)" type="image/gif"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/img_0650.gif?itok=u3KF4I8- 1x" media="all and (min-width: 480px)" type="image/gif"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/img_0650.gif?itok=u3KF4I8- 1x, https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/img_0650.gif?itok=u3KF4I8- 2x" media="all and (min-width: 1024px)" type="image/gif"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/img_0650.gif?itok=u3KF4I8- 1x" media="all and (min-width: 768px)" type="image/gif"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_mobile/public/inline-images/img_0650.gif?itok=2aEJy47c 1x" type="image/gif"></source><!--[if IE 9]></video><![endif]--><img data-entity-type="file" data-entity-uuid="c9fe3069-1fb2-4757-bf63-bcc772192459" data-responsive-image-style="inline_images" height="375" width="500" src="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/inline-images/img_0650.gif" alt="" typeof="foaf:Image" /></picture></a></p> <p><strong>Our Party, the confederation of powerful people who promulgate the narratives that always point the same direction—more government and power for the powerful, less freedom for the subjugated—has yet to reach the mind control of Orwell’s Party, but not for want of desire or effort. </strong>We know the Party’s narratives: globalism, climate change, surveillance, incarceration, political correctness, open borders, free migration, fiat debt, central economic planning, socialized education and medical care, and wars on terrorism, drugs, poverty, any regime that refuses to toe the Party line, hydrocarbons, private firearms, individual rights, privacy, precious metals and cash, and socialized education and medical care. We know the Party’s institutions: governments, central banks and <a href="http://bis.org/">their central banks</a>, intelligence agencies, military forces, police, permanent bureaucracies, multinational corporations, multilateral economic, political, and financial institutions, foundations, universities, nonprofits, and NGOs. We know the Party’s overlapping mouthpieces: the mainstream media, think tanks, government and intelligence agency propaganda organs, crony executives and their companies, Hollywood, and academia. And we know the figureheads who stock governments and their allied institutions, and the Party puppeteers who pull their strings.</p> <p><strong>We also know the Party is not omnipotent. </strong>Just as Orwell’s Party went to all that trouble to ensure Winston Smith thought the right thoughts, our Party wants our belief, acceptance, and consent. Control is far easier to exercise on a population that accepts being controlled and gives carte blanche to its controllers. That Donald Trump, who occasionally tells inconvenient truths but has done precious little to actually change the way the government operates, elicits paroxysms of spastic rage shows just how important it is to the Party that we all think the right thoughts.</p> <p>There are two problems with the Party’s narrative management: the people who don’t believe it, and the people who do. In the Party’s perfect world, it would have a monopoly on information and interpretation. However, it’s battling a trend that began with the invention of writing: the ever-increasing availability and dispersion of information. The latest untoward development is the Internet, which allows virtually anyone to disclose a secret, reveal a lie, express an opinion, satirize, post a photograph or video, or otherwise challenge Party narratives. The many that wither under Internet scrutiny reveal the Party for what it is: a serial, unrepentant liar.</p> <p>Looking at threats to or from the Internet—intelligence agency surveillance, state censorship, and social media companies’ exclusion and elimination of disfavored political views—there is cause for concern. The threats are certainly threatening, but looking at what the Internet has already wrought argues against total despair.</p> <p><strong>Twenty years ago, the whole concept of a Deep State was fringe, a notion embraced only by kooks and so-called conspiracy theorists. </strong>There was an American Deep State with international connections and it had been running the country since at least WWII, but it really was deep, few people on the outside were aware of it. Now, the phrase is routinely cited by the president, deployed every day in the alternative media, and even the mainstream media occasionally use it.</p> <p><strong>In fact, the mainstream media has gone from denying the Deep State to telling us what a great thing it is, the last bulwark against a Trump dictatorship. </strong>So the witnesses against Trump in the House impeachment hearings aren’t State Department bureaucrats in love with their own deeply flawed Ukraine policies, protecting themselves and their Democratic cronies from revelations of involvement in Ukraine’s rampant corruption, and using second-, third-, and fourth-hand conversations in an attempt to depose the elected President. No, they’re heroes.</p> <p>However, unlike the not too distant past when both bureaucrats and mainstream media commanded a certain respect among most of the populace, the House impeachment hearings got shredded in real time by the alternative media. Somewhere between 45 to 50 percent of the population refuses to believe what they’re told to believe, and that percentage is always growing (once you understand the con you don’t go back to believing it). Even a few Democrats recognized that the hearings flopped and have suggested a face-saving motion to censure Trump rather than refer the case to the Republican-controlled Senate, where it would be a nonstop embarrassment.</p> <p><strong>To counter the “Epstein didn’t kill himself” meme that’s run riot on the Internet, Attorney General William Barr recently restated the official conclusion that Jeffrey Epstein’s death was suicide by hanging, resulting from “a perfect storm of screw-ups.”</strong></p> <blockquote> <p>This perfect storm of unlucky oopsies include Epstein being <a href="https://www.nbcnews.com/news/investigations/jeffrey-epstein-was-taken-suicide-watch-high-level-psychologist-n1046071">taken off suicide watch</a>not long after a previous suicide attempt and shortly before his successful suicide, <a href="https://www.foxnews.com/us/jeffrey-epstein-former-cellmate-apparent-suicide-attempt">suggestions</a>that the first attempt may have actually been an assault via attempted strangulation inflicted by someone else, two security guards <a href="https://www.smh.com.au/world/north-america/jeffrey-epstein-s-jail-guards-charged-with-falsifying-records-20191120-p53c6b.html">simultaneously falling asleep on the job</a>when they were supposed to be checking on Epstein, one of those guards <a href="https://twitter.com/nytimes/status/1161042703980908544">not even being an actual security guard</a>, security footage of <a href="https://mobile.reuters.com/article/amp/idUSKCN1VI2LC?__twitter_impression=true">two cameras</a>outside Epstein’s cell being <a href="https://thehill.com/homenews/news/458922-video-from-camera-outside-epstein-jail-cell-unusable-report">unusable due to a mysterious technical glitch</a>, at least eight Bureau of Prisons officials <a href="https://www.msn.com/en-au/news/world/at-least-eight-jail-officials-knew-jeffrey-epstein-was-not-to-be-left-alone-in-cell/ar-AAG8dUx">knowing Epstein wasn’t meant to be left alone in his cell</a>and leaving him alone in his cell anyway, Epstein’s cellmate being <a href="https://www.independent.co.uk/news/world/americas/jeffrey-epstein-investigation-suicide-prison-how-guards-sleeping-a9062951.html">transferred out of their shared space</a>the day before Epstein’s death, Epstein <a href="https://www.washingtonexaminer.com/opinion/jeffrey-epstein-signed-his-will-two-days-before-his-death-was-that-a-coincidence">signing a will</a>two days before his death, <a href="https://www.foxnews.com/us/jeffrey-epstein-unexplained-injuries-wrists-shoulder-brother">unexplained injuries</a>on Epstein’s wrists and shoulder reported by his family after the autopsy, and a forensic expert who examined Epstein’s body claiming that his injuries were <a href="https://www.foxnews.com/us/forensic-pathologist-jeffrey-epstein-homicide-suicide">more consistent with homicide than suicide</a>.</p> <p>Caitlin Johnstone, “<a href="http://straightlinelogic.com/2019/11/23/barr-ends-all-conspiracy-theories-forever-by-saying-epstein-died-via-a-series-of-coincidences-by-caitlin-johnstone/">Barr Ends All Conspiracy Theories Forever By Saying Epstein Died Via A Series Of Coincidences</a>,” medium.com, 11/22/19.</p> </blockquote> <p>It was years before those who questioned the Warren Commission’s conclusions didn’t have their sanity questioned. Now within four months of Epstein’s death the Attorney General felt compelled to respond to the Internet and the alternative and social medias it has spawned. Barr didn’t change a single mind―the meme is still viral—but he has prompted a new SLL word coinage for any effort by the powerful to whitewash their own lies and corruption: Epstein-Barr Syndrome, or EBS.</p> <p><strong>Thanks to the Internet, those of us who are paying attention know our Party’s narratives, institutions, mouthpieces, and personnel are evil to their rotten core.</strong> We don’t know all the details, but we don’t have to, the incontrovertible truths we have are enough. Epstein could have disclosed devastating truths about Party pedophiles, perverts, and pimps, and we’ve been Epstein-Barred too often to believe he killed himself. Once your eyes are opened, they stay open and you become an expert at spotting EBS. You reflexively reject Party propaganda and by implication, the Party itself.</p> <p><strong>Popular discontent and protests, some violent, are breaking out all over the world.</strong> A number of causes have been cited: corrupt governments, wealth inequality, domestic interference by foreign governments and institutions, rising taxes, fees, and the overall cost of living, and disconnected politicians, bureaucrats, and institutions. While all of these undoubtedly play a role, there’s one constant that is rarely cited: people are fed up with the lies. They’re enraged by the hidden agendas, incompetence, and evil the lies are meant to hide.</p> <p>The Chinese government is typical, it rests on lies. You don’t need to censor the internet or institute a social credit system if truth is your lodestar.  It has told a whopper regarding Hong Kong: that a totalitarian system can accommodate a second system that confers substantially more freedom.</p> <p>Undoubtedly the US and British governments are covertly encouraging Hong Kong’s protestors and are trying to capitalize on the Chinese government’s discomfiture. While the Chines government regards the outside influences as illegitimate, it cannot tolerate a free Hong Kong even were the protests to stop because a substantial portion of their own billion-plus repressed citizens would get wind of it and ask why they cannot enjoy the same freedom.</p> <p>If China finds the protests of around two million Hong Kong residents troublesome, protests from even one percent of mainland Chinese—roughly ten million people—would be a nightmare. <strong>Freedom and totalitarianism are self-evidently incompatible, and sooner or later the Chinese government will try to impose its system on Hong Kong. That’s the truth it cannot tell. </strong>The protests may serve as the pretext, or there may be some sort of creeping consolidation before the “One Country, Two Systems” charade ends in 2047. Either way, Hong Kong’s days as a semi-free enclave are numbered. Its citizens know it, and that’s the main fuel for the current conflagration, regardless of what the American and British governments are doing to fan the flames.</p> <p>As I say on the Welcome page of Straight Line Logic: <em><strong>The truth always threatens those whose power and wealth rests on lies.</strong> Through history that has meant governments and those who align their fates with governments.</em>However, the unbelievers may not be as big a problem for the Party as the believers.</p> <p><iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="282" src="https://www.youtube.com/embed/wt87mXL_ftg" width="500"></iframe></p> <p><strong>The Party has morons on its team: those who still believe its narratives. </strong>It doesn’t matter if true believers are PhDs, Mensa members, or billionaires, in real-world intelligence they’re not the sharpest tools in the shed. The problem with having morons on your team is that they’re, well, morons. They’re the Party’s allies, but that’s like a military alliance with Haiti. They’re too stupid or lazy to try to figure out the world they live in and aren’t going to get their first clue until the handouts stop. As collapse accelerates and reaches full fruition, the ranks of the disbelieving and cynical will only grow. You quit believing when you’re starving. The Party’s already faltering mind control effort will fail, even among the morons.</p> <p>Most of the PhDs, Mensa members, and billionaires who profess belief know the con but go along with it for pelf and power. They have everything but principles and will spout Party proper-speak as long as it’s in their interest. So the Party can count on the support of the venal and the duplicitous, but how staunch and steadfast will that support be when collapse accelerates, chaos reigns, and it’s every man for himself? We’ll see.</p> <p><strong>The Party narrative is problematic not just because of the quality of people who believe or profess to believe it. The more significant deficiency is that it doesn’t correspond to reality. </strong>You can have millions, even billions, of believers who fervently believe that two plus two equals five, but that means you have millions, even billions, of intellectual cripples who can’t balance a checkbook or perform any other elementary arithmetic function. Or any of the higher operations arithmetic supports—like science and technology.</p> <p>The climate change debate is instructive. For years people have tried to model financial markets. There’s a built in incentive: incalculable wealth awaits anyone who gets it right even 60 percent of the time. Yet nobody has done so, because financial markets are extremely complex, are influenced by myriad variables, the relationship among variables and between the variables and the markets change, and we don’t know all the relevant variables.</p> <p>The same things can be said about climate modeling, except with more emphasis, because climate is more complex and has more potentially interacting variables—some of which we undoubtedly don’t know about—than financial markets. Climate models should be considered inherently unreliable, and models that purport to explain and predict climate based on one or two variables laughably so. If we can’t predict financial markets we certainly can’t predict climate. The state of human knowledge and predictive acumen just isn’t there.</p> <p>Yet, on the basis of these inherently faulty climate models, many of which have already revealed their deficiencies, the world is supposed to reduce its standard of living, embrace radical, costly, and potentially deadly changes in power generation, food consumption, modes of travel, and economic activity, and hand power over to multilateral and global institutions, supposedly the only way with which the predicted consequences can be dealt.</p> <p><strong>The problem with morons and what they believe is that reality-based non-morons can’t wall them off to live with each other and the consequences of their collective irrationality and neuroticism. They insist we live according to their moronic dictates. Conflict is inevitable. However, the quality of the two sides will be far more important than their quantity.</strong></p> <p>The Party got what it wanted from Winston Smith—a dolt who believed its self-contradictory narratives, but wasn’t much good for anything else. It’s not clear if it was even economically worthwhile for the Party to keep Smith alive. As a dolt could he produce more than he consumed?</p> <p><strong>In the coming conflict, one motivated hacker rebel will be worth at least 10 million Winston Smiths. </strong>A military specialist rebel able to organize and lead guerrilla operations will be worth at least a million Winston Smiths. And any rebel who refuses to be Epstein-Barred, sees through the Party’s narratives, fights its dictates, and has a unwavering dedication to the truth will be worth at least 100,000 Winston Smiths.</p> </div> </div> Sat, 07 Dec 2019 22:11:27 +0000 Tyler Durden 656001 at https://www.zerohedge.com Kerry's Endorsement Of Biden Fits: Two Deceptive Supporters Of The Iraq War https://www.zerohedge.com/political/kerrys-endorsement-biden-fits-two-deceptive-supporters-iraq-war <span property="schema:name" class="field field--name-title field--type-string field--label-hidden">Kerry&#039;s Endorsement Of Biden Fits: Two Deceptive Supporters Of The Iraq War</span> <div class="field field--name-field-image field--type-image field--label-above"> <div class="field__label">Teaser Image</div> <div class="field__item"> <img property="schema:image" src="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/2019-12/kerry_biden_iraq_war.jpg" width="955" height="500" alt="" typeof="foaf:Image" /> </div> </div> <span rel="schema:author" class="field field--name-uid field--type-entity-reference field--label-hidden"> <a href="/users/tyler-durden">Tyler Durden</a> </span> <span property="schema:dateCreated" content="2019-12-07T21:00:00+00:00" class="field field--name-created field--type-created field--label-hidden">Sat, 12/07/2019 - 16:00</span> <div class="clearfix text-formatted field field--name-body field--type-text-with-summary field--label-above"> <div class="field__label">Body</div> <div property="schema:text" class="field__item"><p><em><a href="https://www.commondreams.org/views/2019/12/06/kerrys-endorsement-biden-fits-two-deceptive-supporters-iraq-war">Authored by Paul Norman Solomon via CommonDreams.org,</a></em></p> <p>On Thursday afternoon, the <em>Washington Post</em> sent out a news alert headlined "John Kerry Endorses Biden in 2020 Race, Saying He Has the Character and Experience to Beat Trump, Confront the Nation’s Challenges." Meanwhile, in Iowa, Joe Biden was also touting his experience. "Look," Biden said as he <a href="https://www.cnn.com/videos/politics/2019/12/05/joe-biden-town-hall-voter-age-ukraine-crn-vpx.cnn">angrily lectured</a> an 83-year-old farmer at a campaign stop, "the reason I’m running is because I’ve been around a long time and I know more than most people know, and I can get things done."</p> <p>But Kerry and Biden don’t want to acknowledge a historic tie that binds them: Both men were important supporters of the Iraq war, voting for the invasion on the Senate floor and continuing to back the war after it began. <strong>Over the years, political winds have shifted – and Biden, like Kerry, has <a href="https://original.antiwar.com/zunes/2019/08/09/biden-is-doubling-down-on-iraq-war-lies/">methodically lied</a> about his support for that horrendous war.</strong></p> <a data-image-external-href="" data-image-href="/s3/files/inline-images/kerry_biden_iraq_war.jpg?itok=lAekYcfO" data-link-option="0" href="/s3/files/inline-images/kerry_biden_iraq_war.jpg?itok=lAekYcfO"><picture><!--[if IE 9]><video style="display: none;"><![endif]--><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/kerry_biden_iraq_war.jpg?itok=BPrWgOJy 1x" media="all and (min-width: 1280px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/kerry_biden_iraq_war.jpg?itok=BPrWgOJy 1x" media="all and (min-width: 480px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/kerry_biden_iraq_war.jpg?itok=BPrWgOJy 1x, https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/kerry_biden_iraq_war.jpg?itok=BPrWgOJy 2x" media="all and (min-width: 1024px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/kerry_biden_iraq_war.jpg?itok=BPrWgOJy 1x" media="all and (min-width: 768px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_mobile/public/inline-images/kerry_biden_iraq_war.jpg?itok=lAekYcfO 1x" type="image/jpeg"></source><!--[if IE 9]></video><![endif]--><figure role="group" class="caption caption-img"><img alt="" data-entity-type="file" data-entity-uuid="1a0964cb-0d75-477e-ad84-92db6ea94c70" data-responsive-image-style="inline_images" height="262" src="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/inline-images/kerry_biden_iraq_war.jpg" typeof="foaf:Image" width="500" /><figcaption><em>Then Senate Democrats John Kerry, Carl Levin, Majority Leader Harry Reid and Joseph Biden take part in a news conference on March 14, 2007 following a procedural vote on Iraq. (Photo: Karen Bleier/AFP via Getty Images)</em></figcaption></figure></picture></a> <p>The spectacle of Kerry praising Biden as a seasoned leader amounts to <strong>one supporter of the Iraq catastrophe attesting to the character and experience of another supporter of the same catastrophe</strong>.</p> <p>The FactCheck.org project at the Annenberg Public Policy Center has <a href="https://www.factcheck.org/2013/09/kerry-spins-his-record-on-iraq/">pointed out</a>: "Kerry agreed that Saddam Hussein had weapons of mass destruction and should be overthrown, and defended his war authorization vote more than once – including saying in a May 2003 debate that <strong>Bush made the ‘right decision to disarm Saddam Hussein.’</strong> . . . Kerry also told reporters in August 2004 that he would have voted for the resolution even if he had known that the U.S. couldn’t find any weapons of mass destruction."</p> <p>As for Biden, he can’t stop lying about his major role in pushing the war authorization through the Senate five months before the March 2003 invasion. <a href="https://truthout.org/articles/biden-is-doubling-down-on-iraq-war-lies/">During his current presidential campaign</a>, more than 16 years after the invasion, Biden has continued efforts to conceal his pro-war role while <strong>refusing to admit that he was instrumental in making possible the massive carnage and devastation in Iraq</strong>.</p> <p>Three months ago, during a debate on ABC, Biden claimed that he voted for the war resolution so it would be possible to get U.N. weapons inspectors into Iraq – saying that he wanted "to allow inspectors to go in to determine whether or not anything was being done with chemical weapons or nuclear weapons." But that’s totally backwards.</p> <a data-image-external-href="" data-image-href="/s3/files/inline-images/baghdad%20bombing.jpg?itok=0F_kfXuj" data-link-option="0" href="/s3/files/inline-images/baghdad%20bombing.jpg?itok=0F_kfXuj"><picture><!--[if IE 9]><video style="display: none;"><![endif]--><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/baghdad%20bombing.jpg?itok=a0CZvaG4 1x" media="all and (min-width: 1280px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/baghdad%20bombing.jpg?itok=a0CZvaG4 1x" media="all and (min-width: 480px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/baghdad%20bombing.jpg?itok=a0CZvaG4 1x, https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/baghdad%20bombing.jpg?itok=a0CZvaG4 2x" media="all and (min-width: 1024px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/baghdad%20bombing.jpg?itok=a0CZvaG4 1x" media="all and (min-width: 768px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_mobile/public/inline-images/baghdad%20bombing.jpg?itok=0F_kfXuj 1x" type="image/jpeg"></source><!--[if IE 9]></video><![endif]--><figure role="group" class="caption caption-img"><img alt="" data-entity-type="file" data-entity-uuid="98e4b22e-a607-4350-8079-73a0359d8019" data-responsive-image-style="inline_images" height="293" src="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/inline-images/baghdad%20bombing.jpg" typeof="foaf:Image" width="500" /><figcaption><em>An explosion rocks Baghdad during air strikes March 21, 2003, via Reuters.</em></figcaption></figure></picture></a> <p>It was <a href="https://www.nytimes.com/2002/09/16/international/un-inspectors-can-return-unconditionally-iraq-says.html">big news</a> when the Iraqi government <a href="https://www.cnn.com/2002/WORLD/meast/09/16/iraq.un.letter/index.html">announced</a> on September 16, 2002 – with a letter hand-delivered to UN Secretary General Kofi Annan – that it would allow the UN weapons inspectors back in "without conditions." The announcement was a full 25 days before Biden joined with virtually every Republican and most Democratic senators voting to approve the Iraq war resolution.</p> <p>That resolution on October 11 couldn’t rationally be viewed as a tool for leverage so that the Iraqi government would (in Biden’s words) “allow inspectors to go in." Several weeks earlier, the Iraqi government had already agreed to allow inspectors to go in.</p> <p>Biden keeps trying to wriggle out of culpability for the Iraq war. But he won’t be able to elude scrutiny so easily. In a mid-October debate, when Biden boasted that he has a record of getting things done, Bernie Sanders (who I actively support) made this response:</p> <blockquote> <p><strong>"Joe, you talked about working with Republicans and getting things done. But you know what you also got done? And I say this as a good friend. You got the disastrous war in Iraq done."</strong></p> </blockquote> <p>Indeed, Biden – as chair of the Senate Foreign Relations Committee – <a href="https://progressive.org/dispatches/the-other-reason-biden-shouldnt-run-Zunes-190402/">presided over one-sided hearings</a> that greased the war-machine wheels to carry the war resolution forward. He was the single most pivotal Senate Democrat for getting the Iraq invasion done. While sometimes grumbling about President George W. Bush’s diplomatic performance along the way, Biden backed the invasion with <a href="https://www.jacobinmag.com/2019/07/joe-biden-iraq-war-hawk-presidential-candidate">enthusiasm</a>.</p> <p>Now, dazzled by Kerry’s endorsement of Biden, mainstream news outlets are calling it a major boost. Media hype is predictable as Kerry teams up with Biden on the campaign trail.</p> <p><strong>"The Kerry endorsement is among Mr. Biden’s most significant to date,"</strong> the <em>New York Times </em><a href="https://www.nytimes.com/2019/12/05/us/politics/joe-biden-push-ups.html?auth=login-email&amp;login=email">reports</a>. "His support provides Mr. Biden the backing of the Democratic Party’s 2004 presidential nominee and a past winner of the Iowa caucuses." Kerry praised Biden to the skies, <a href="https://www.politico.com/news/2019/12/05/john-kerry-endorses-biden-076391">declaring</a> that "I believe Joe Biden is the president our country desperately needs right now, not because I’ve known Joe so long, but because I know Joe so well."</p> <p>This year, many progressives have become accustomed to rolling their eyes at the mention of Biden’s name. A facile assumption is that his campaign will self-destruct. But that may be wishful thinking.</p> <p><strong>The former vice president has powerful backers in corporate media, wealthy circles and the Democratic Party establishment. </strong>Deceitful and hidebound as he is, Joe Biden stands a good chance of becoming the party’s nominee – unless his actual record, including support for the Iraq war, catches up with him.</p> </div> </div> Sat, 07 Dec 2019 21:00:00 +0000 Tyler Durden 655999 at https://www.zerohedge.com Israel Conducted Nuclear Missile Test "Aimed At Iran": FM Zarif https://www.zerohedge.com/geopolitical/israel-conducted-nuclear-missile-test-aimed-iran-iran-fm-charges <span property="schema:name" class="field field--name-title field--type-string field--label-hidden">Israel Conducted Nuclear Missile Test &quot;Aimed At Iran&quot;: FM Zarif</span> <div class="field field--name-field-image field--type-image field--label-above"> <div class="field__label">Teaser Image</div> <div class="field__item"> <img property="schema:image" src="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/2019-12/israelmissiletest1.png" width="768" height="471" alt="" typeof="foaf:Image" /> </div> </div> <span rel="schema:author" class="field field--name-uid field--type-entity-reference field--label-hidden"> <a href="/users/tyler-durden">Tyler Durden</a> </span> <span property="schema:dateCreated" content="2019-12-07T20:30:11+00:00" class="field field--name-created field--type-created field--label-hidden">Sat, 12/07/2019 - 15:30</span> <div class="clearfix text-formatted field field--name-body field--type-text-with-summary field--label-above"> <div class="field__label">Body</div> <div property="schema:text" class="field__item"><p>Iran is crying foul after Israeli's Defense Ministry confirmed a major test of a mystery new "rocket propulsion system" on Friday morning. </p> <p>“The defense establishment conducted a launch test a few minutes ago of a rocket propulsion system from a base in the center of the country,” the ministry <a href="https://www.timesofisrael.com/tehran-accuses-israel-of-testing-a-nuke-missile-aimed-at-iran/">said</a>. “The test was scheduled in advance and was carried out as planned.” </p> <p>Giving no further details, international reports were rife with speculation over the nature of the rocket, with many saying it was a nuclear-capable ballistic missile. This was enough for Iran's Foreign Minister Mohammad Javad Zarif to go off, saying in a statement <a href="https://twitter.com/JZarif/status/1203014358181273600?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1203014358181273600&amp;ref_url=https%3A%2F%2Fwww.rt.com%2Fpreview%2FNews%2F5deb3a1585f54008535c14e9%2F">posted to Titter</a>: <strong>“Israel today tested a nuke-missile, aimed at Iran.”</strong></p> <blockquote class="twitter-tweet" data-lang="en"> <p dir="ltr" lang="en" xml:lang="en">Israel today tested a nuke-missile, aimed at Iran.<br /><br /> E3 &amp; US never complain about the only nuclear arsenal in West Asia—armed with missiles actually DESIGNED to be capable of carrying nukes—but has fits of apoplexy over our conventional &amp; defensive ones. <a href="https://t.co/r4EqXkhcCN">https://t.co/r4EqXkhcCN</a></p> — Javad Zarif (@JZarif) <a href="https://twitter.com/JZarif/status/1203014358181273600?ref_src=twsrc%5Etfw">December 6, 2019</a></blockquote> <script async="" src="https://platform.twitter.com/widgets.js" charset="utf-8"></script><p>And he further complained that the West looks the other way when it comes to<em> </em>“about the only nuclear arsenal in West Asia,” but that it “has fits of apoplexy over our conventional defensive [rockets].”</p> <p>The mystery Israeli test was significant enough to <strong>require the temporary diversion of all inbound flights to Tel Aviv's Ben Gurion Airport</strong>.</p> <p>Israeli media publications also considered the possibility that it was a ballistic missile test, likely nuclear warhead capable <a href="https://www.jpost.com/Middle-East/Irans-Zarif-claims-Israeli-rocket-test-was-a-nuke-aimed-at-Iran-610128">surface-to-surface Jericho system</a>, an intercontinental ballistic missile which according to foreign reports can support a nuclear payload.</p> <p>It comes at a tense time in the region following Israeli airstrikes on Syria and even Iraq, against what the IDF alleges were 'Iranian targets'. According to the <a href="https://www.timesofisrael.com/defense-ministry-conducts-missile-test-over-central-israel/">Times of Israel</a>: </p> <blockquote> <p>Israel does not publicly acknowledge having ballistic missiles in its arsenals, though according to foreign reports, the Jewish state possesses <strong>a nuclear-capable variety known as the Jericho that has a multi-stage engine, a 5,000-kilometer range and is capable of carrying a 1,000-kilogram warhead</strong>.</p> </blockquote> <p>And according to a Avi Scharf, the editor of the English version of Haaretz newspaper, the missile test may have had a flight trajectory deep into the Mediterranean, as far West as past the island of Crete. </p> <blockquote class="twitter-tweet" data-conversation="none" data-lang="en"> <p dir="ltr" lang="en" xml:lang="en">To track and handle it all, IAI telemetry plane + at least two Israeli AF g550 aewc/shavit spyplanes + hercs flew all the way out past Crete <a href="https://t.co/s9VyBQLVKJ">pic.twitter.com/s9VyBQLVKJ</a></p> — avi scharf (@avischarf) <a href="https://twitter.com/avischarf/status/1202841477505835009?ref_src=twsrc%5Etfw">December 6, 2019</a></blockquote> <script async="" src="https://platform.twitter.com/widgets.js" charset="utf-8"></script><p>Tehran officials, while complaining about the provocative rocket test which they claimed was an ICBM, vowed they are still <em>“</em>determined to resolutely continue its activities related to ballistic missiles and space launch vehicles.”</p> <p><em>Israeli residents captured part of the rare launch on video:</em></p> <blockquote class="twitter-tweet" data-lang="en"> <p dir="ltr" lang="fr" xml:lang="fr"><a href="https://twitter.com/hashtag/Israel?src=hash&amp;ref_src=twsrc%5Etfw">#Israel</a> <a href="https://twitter.com/hashtag/IDF?src=hash&amp;ref_src=twsrc%5Etfw">#IDF</a> a effectué un essai du système de propulsion de missiles depuis la base aérienne de Palmachim, au sud de <a href="https://twitter.com/hashtag/TelAviv?src=hash&amp;ref_src=twsrc%5Etfw">#TelAviv</a>, en ce matin du 6 décembre 2019.<br /> Le test a été pré-planifié et réalisé comme prévu.<a href="https://twitter.com/hashtag/Tsahal?src=hash&amp;ref_src=twsrc%5Etfw">#Tsahal</a> <a href="https://t.co/TFOg8PPAIc">pic.twitter.com/TFOg8PPAIc</a></p> — Rebecca Rambar (@RebeccaRambar) <a href="https://twitter.com/RebeccaRambar/status/1202906889115389952?ref_src=twsrc%5Etfw">December 6, 2019</a></blockquote> <script async="" src="https://platform.twitter.com/widgets.js" charset="utf-8"></script><p>Washington has repeatedly condemned similar Iranian launches, even while the program is not formally banned under the 2015 JCPOA, and has leveled sanctions targeting the Islamic Republic's ability to produce advanced missiles. </p> </div> </div> Sat, 07 Dec 2019 20:30:11 +0000 Tyler Durden 656014 at https://www.zerohedge.com CNN Ratings Drop To Three-Year Low Amid Constant Impeachment Coverage https://www.zerohedge.com/political/cnn-ratings-drop-three-year-low-amid-impeachment-hearings <span property="schema:name" class="field field--name-title field--type-string field--label-hidden">CNN Ratings Drop To Three-Year Low Amid Constant Impeachment Coverage</span> <div class="field field--name-field-image field--type-image field--label-above"> <div class="field__label">Teaser Image</div> <div class="field__item"> <img property="schema:image" src="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/2019-12/cnn%20fake%20news.jpg" width="1920" height="1080" alt="" typeof="foaf:Image" /> </div> </div> <span rel="schema:author" class="field field--name-uid field--type-entity-reference field--label-hidden"> <a href="/users/tyler-durden">Tyler Durden</a> </span> <span property="schema:dateCreated" content="2019-12-07T18:04:10+00:00" class="field field--name-created field--type-created field--label-hidden">Sat, 12/07/2019 - 13:04</span> <div class="clearfix text-formatted field field--name-body field--type-text-with-summary field--label-above"> <div class="field__label">Body</div> <div property="schema:text" class="field__item"><p>It has been over two months since House Speaker Nancy Pelosi announced the impeachment inquiry of President Trump, and CNN has been running non-stop coverage of all the latest impeachment developments. In retrospect, that may not have been the best idea: with round the clock coverage, viewership of the rabidly partisan, far-left media outlet has actually tumbled to three-year lows, reported <a href="https://www.nielsen.com/us/en/">Nielsen Media Research</a>. </p> <p>Nielsen reported that CNN recorded its lowest prime time ratings in nearly three years during the week of November 25. Even more embarrassing for Jerry Zucker, Fox News recorded higher ratings than MSNBC and CNN combined. </p> <p>Fox News recorded 2.2 million viewers in the primetime hours of 9-11 p.m. ET from Nov. 25 through Dec. 1; MSNBC saw around 1.3 million, while CNN averaged about 643,000 viewers over the same period. <strong>It was CNN’s worst performance in nearly three years and the liberal network’s worst turnout among the key demographic of adults age 25-54 in over five years.</strong></p> <p><strong>Primetime Viewers</strong></p> <ul><li>Fox News: 2.2 million</li> <li>MSNBC: 1.3 million</li> <li>CNN: 643,000</li> </ul><p>Fox News has dominated the cable news arena for the 47th consecutive week, averaging a little over 1.3 million viewers.</p> <p><strong>Total Day Viewers</strong></p> <ul><li>Fox News: 1.33 million</li> <li>MSNBC: 781,000</li> <li>CNN: 539,000</li> </ul><p>As CNN plumbed historic lows, its conservative foil continued to enjoy strong viewership, as episodes of “Hannity,” “Tucker Carlson Tonight,” “The Ingraham Angle,” “The Story with Martha MacCallum” and “Special Report” with Bret Baier accounted for 15 of the 30 most-watched telecasts across all of cable during the holiday weekend.</p> <p>Is CNN's Trump derangement syndrome starting to bore most Americans, even liberals? Consider that the network’s special town hall event with House Speaker Nancy Pelosi on the day she announced that articles of impeachment against President Trump were being drafted only averaged 1.6 million viewers and 410,000 in the demo on Thursday night, well behind both Fox News and MSNBC in both categories.</p> <p>The American people, at least those who still watch cable TV, are increasingly ditching "objective", "imparial" mainstream media outlets and either tuning out or moving to conservative outlets, in a time when House Democrats have been focused on just one thing: not how to govern the nation, but merely focusing all their energy on impeaching the president. It appears, however, that the American people are tired of this farce and are desperate to move on. So far very few democrats have gotten the memo.</p> </div> </div> Sat, 07 Dec 2019 18:04:10 +0000 Tyler Durden 655978 at https://www.zerohedge.com North Korea Says Denuclearization "Off Negotiating Table" After Breakdown In Talks  https://www.zerohedge.com/geopolitical/north-korea-says-denuclearization-negotiating-table-amid-breakdown-talks <span property="schema:name" class="field field--name-title field--type-string field--label-hidden">North Korea Says Denuclearization &quot;Off Negotiating Table&quot; After Breakdown In Talks </span> <div class="field field--name-field-image field--type-image field--label-above"> <div class="field__label">Teaser Image</div> <div class="field__item"> <img property="schema:image" src="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/2019-12/kim%20trump.jpg" width="780" height="438" alt="" typeof="foaf:Image" /> </div> </div> <span rel="schema:author" class="field field--name-uid field--type-entity-reference field--label-hidden"> <a href="/users/tyler-durden">Tyler Durden</a> </span> <span property="schema:dateCreated" content="2019-12-07T17:38:53+00:00" class="field field--name-created field--type-created field--label-hidden">Sat, 12/07/2019 - 12:38</span> <div class="clearfix text-formatted field field--name-body field--type-text-with-summary field--label-above"> <div class="field__label">Body</div> <div property="schema:text" class="field__item"><p>Just two days after North Korea <a href="https://www.zerohedge.com/geopolitical/senile-dotard-trump-rocket-man-kim-are-back-name-calling-deadline-looms">resumed </a>its "dotard" insults at President Trump, North Korea's ambassador to the United Nations said on Saturday morning that further denuclearization talks are no longer needed with the Trump administration as it appears negotiations have stalled, reported <a href="https://www.reuters.com/article/us-northkorea-usa/north-koreas-u-n-envoy-says-denuclearization-off-negotiating-table-with-united-states-idUSKBN1YB0FG">Reuters</a>. </p> <p>In a statement to Reuters, NoKo ambassador, Kim Song, said: "We do not need to have lengthy talks with the US now and denuclearization is already gone out of the negotiating table."</p> <p>He added that "sustained and substantial dialogue" sought by the Trump administration was a "time-saving trick" to accommodate its domestic political agenda, likely referring to the upcoming election year where President Trump is trying to get as many wins as possible to fulfill talking points of first-term success. </p> <p>We noted on Friday that there was less than a month to go before North Korea's self-imposed end of year deadline to cut off nuclear negotiations with Washington if no new concessions were given in the path towards denuclearization. </p> <p>President Trump has told reporters he has a "good relationship" with Kim Jong Un, though he has said the US reserved the right to use military force against Pyongyang. </p> <p><a data-image-external-href="" data-image-href="/s3/files/inline-images/trump%20kim_1.jpg?itok=lT47rxgl" data-link-option="0" href="/s3/files/inline-images/trump%20kim_1.jpg?itok=lT47rxgl"><picture><!--[if IE 9]><video style="display: none;"><![endif]--><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/trump%20kim_1.jpg?itok=fIJxo0rh 1x" media="all and (min-width: 1280px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/trump%20kim_1.jpg?itok=fIJxo0rh 1x" media="all and (min-width: 480px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/trump%20kim_1.jpg?itok=fIJxo0rh 1x, https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/trump%20kim_1.jpg?itok=fIJxo0rh 2x" media="all and (min-width: 1024px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/trump%20kim_1.jpg?itok=fIJxo0rh 1x" media="all and (min-width: 768px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_mobile/public/inline-images/trump%20kim_1.jpg?itok=lT47rxgl 1x" type="image/jpeg"></source><!--[if IE 9]></video><![endif]--><img data-entity-type="file" data-entity-uuid="6be6819a-0fec-4174-9179-c15547733236" data-responsive-image-style="inline_images" height="333" width="500" src="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/inline-images/trump%20kim_1.jpg" alt="" typeof="foaf:Image" /></picture></a></p> <p>With talks stalled and denuclearization off the table, it appears that the US and North Korea have wasted several years in discussions and have accomplished absolutely nothing. </p> <p>As Kim and President Trump are back at flinging insults at one another amid a breakdown in talks, North Korea said it's preparing a "Christmas gift" for the US, likely in the form of a new intercontinental ballistic missile (ICBM) launch. </p> <p>Stay tuned as geopolitical uncertainty on the Korean Peninsula could erupt into the new year with a 20 megaton bang.</p> <p><iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="281" src="https://www.youtube.com/embed/5LXQTCd8Has" width="500"></iframe></p> </div> </div> Sat, 07 Dec 2019 17:38:53 +0000 Tyler Durden 656012 at https://www.zerohedge.com Rickards: Trade Wars Just Getting Started https://www.zerohedge.com/geopolitical/rickards-trade-wars-just-getting-started <span property="schema:name" class="field field--name-title field--type-string field--label-hidden">Rickards: Trade Wars Just Getting Started</span> <div class="field field--name-field-image field--type-image field--label-above"> <div class="field__label">Teaser Image</div> <div class="field__item"> <img property="schema:image" src="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/2019-12/Trade-Wars-Just-Getting-Started-650x360.jpg" width="650" height="360" alt="" typeof="foaf:Image" /> </div> </div> <span rel="schema:author" class="field field--name-uid field--type-entity-reference field--label-hidden"> <a href="/users/tyler-durden">Tyler Durden</a> </span> <span property="schema:dateCreated" content="2019-12-07T16:30:00+00:00" class="field field--name-created field--type-created field--label-hidden">Sat, 12/07/2019 - 11:30</span> <div class="clearfix text-formatted field field--name-body field--type-text-with-summary field--label-above"> <div class="field__label">Body</div> <div property="schema:text" class="field__item"><p><a href="https://dailyreckoning.com/trade-wars-just-getting-started/"><em>Authored by James Rickards via The Daily Reckoning blog,</em></a></p> <p>Markets are eagerly awaiting the conclusion of the so-called “phase one” trade deal between the U.S. and China.</p> <p>Both parties are trying to reach a mini-deal involving simple tariff reductions and a truce on new tariffs along with Chinese purchases of pork and soybeans from the U.S.</p> <p><strong>The likely success or failure of the mini-deal has been a main driver of stock market action for the past year. When the deal looks likely, markets rally. When the deal looks shaky, markets fall.</strong></p> <p>A deal is still possible. But investors should be prepared for a shocking fall in stock market valuations if it does not. Markets have fully discounted a successful phase one, so there’s not much upside if it happens.</p> <p>On the other hand, if phase one falls apart stock markets will hit an air pocket and fall 5% or more in a matter of days.</p> <p><strong>But even if the phase one deal goes through, it does not end the trade wars. Unresolved issues include tariffs, subsidies, theft of intellectual property, forced transfer of technology, closed markets, unfair competition, cyber-espionage and more.</strong></p> <p><a data-image-external-href="" data-image-href="/s3/files/inline-images/Trade-Wars-Just-Getting-Started-650x360.jpg?itok=j9RSYflO" data-link-option="0" href="/s3/files/inline-images/Trade-Wars-Just-Getting-Started-650x360.jpg?itok=j9RSYflO"><picture><!--[if IE 9]><video style="display: none;"><![endif]--><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/Trade-Wars-Just-Getting-Started-650x360.jpg?itok=a6W0CZ7N 1x" media="all and (min-width: 1280px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/Trade-Wars-Just-Getting-Started-650x360.jpg?itok=a6W0CZ7N 1x" media="all and (min-width: 480px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/Trade-Wars-Just-Getting-Started-650x360.jpg?itok=a6W0CZ7N 1x, https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/Trade-Wars-Just-Getting-Started-650x360.jpg?itok=a6W0CZ7N 2x" media="all and (min-width: 1024px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/Trade-Wars-Just-Getting-Started-650x360.jpg?itok=a6W0CZ7N 1x" media="all and (min-width: 768px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_mobile/public/inline-images/Trade-Wars-Just-Getting-Started-650x360.jpg?itok=j9RSYflO 1x" type="image/jpeg"></source><!--[if IE 9]></video><![endif]--><img data-entity-type="file" data-entity-uuid="793bc8aa-6d15-4cae-a7b3-808117ed89ff" data-responsive-image-style="inline_images" height="277" width="500" src="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/inline-images/Trade-Wars-Just-Getting-Started-650x360.jpg" alt="" typeof="foaf:Image" /></picture></a></p> <p><strong>Most of the issues will not be resolved quickly, if ever.</strong></p> <p>Resolution involves intrusion into internal Chinese affairs both in the form of legal changes and enforcement mechanisms to ensure China lives up to its commitments.</p> <p>These legal and enforcement mechanisms are needed because China has lied about and reneged on its trade commitments for the past 25 years. There’s no reason to believe China will be any more honest this time around without verification and enforcement. But China refuses to allow this kind of intrusion into their sovereignty.</p> <p>For the Chinese, the U.S. approach recalls the Opium Wars (1839–1860) and the “Unequal Treaty” (1848–1950) whereby foreign powers (the U.K., the U.S., Japan, France, Germany and Russia) forced China into humiliating concessions of land, port access, tariffs and extraterritorial immunity.</p> <p>China has now regained its lost economic and military strength and refuses to make similar concessions today.</p> <p>In order to break the impasse between protections the U.S. insists on and concessions China refuses to give.</p> <p>This points to the fact that the “trade war” is not just a trade war but really part of a much broader confrontation between the U.S. and China that more closely resembles a new Cold War.</p> <p>This big-picture analysis has been outlined in a speech given by Vice President Mike Pence in October 2018 and a follow-up speech delivered on Oct. 24, 2019. Both speeches are available on the White House website.</p> <p>Secretary of State Mike Pompeo has also added his voice to the hawks warning that China is a long-term threat to the U.S. and that business as usual will no longer protect U.S. national security.</p> <p><a data-image-external-href="" data-image-href="/s3/files/inline-images/dr_img1.jpeg?itok=YWnA7eQz" data-link-option="0" href="/s3/files/inline-images/dr_img1.jpeg?itok=YWnA7eQz"><picture><!--[if IE 9]><video style="display: none;"><![endif]--><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/dr_img1.jpeg?itok=9Aq62gY9 1x" media="all and (min-width: 1280px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/dr_img1.jpeg?itok=9Aq62gY9 1x" media="all and (min-width: 480px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/dr_img1.jpeg?itok=9Aq62gY9 1x, https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/dr_img1.jpeg?itok=9Aq62gY9 2x" media="all and (min-width: 1024px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_desktop/public/inline-images/dr_img1.jpeg?itok=9Aq62gY9 1x" media="all and (min-width: 768px)" type="image/jpeg"></source><source srcset="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/styles/inline_image_mobile/public/inline-images/dr_img1.jpeg?itok=YWnA7eQz 1x" type="image/jpeg"></source><!--[if IE 9]></video><![endif]--><img data-entity-type="file" data-entity-uuid="9fff0652-f630-46a7-ad8a-08d6f3fcf130" data-responsive-image-style="inline_images" height="249" width="500" src="https://zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com/s3fs-public/inline-images/dr_img1.jpeg" alt="" typeof="foaf:Image" /></picture></a></p> <blockquote> <p><em>Pictured above are Vice President Mike Pence (l.) and Secretary of State Mike Pompeo (r.). Pence and Pompeo have taken the lead in the public criticism of China by the Trump administration. In a series of speeches and interviews they have pointed out egregious human rights violations, blatant theft of intellectual property and threatening military advances that should cause the U.S. to treat China as more of a geopolitical adversary than a friendly trading partner.</em></p> <p>The views of Pence and Pompeo, often captured under the heading of the Pence Doctrine, were neatly summarized by China expert Gordon G. Chang, author of <em>The Coming Collapse of China</em>, in a <em>Wall Street Journal</em> Op-Ed on Nov. 7, 2019, quoted below:</p> <p><em>The Trump administration is heading for a fundamental break with the People’s Republic of China. The rupture, if it occurs, will upend almost a half century of Washington’s “engagement” policies. Twin speeches last month by Vice President Mike Pence and Secretary of State Mike Pompeo contained confrontational language rarely heard from senior American officials in public.</em></p> <p><em>“America will continue to seek a fundamental restructuring of our relationship with China,” the vice president said at a Wilson Center event on Oct. 24 as he detailed Chinaʼs disturbing behavior during the past year.</em></p> <p><em>Some argue the vice presidentʼs talk didnʼt differ substantively from his groundbreaking October 2018 speech, but these observers fail to see that in the face of Beijingʼs refusal to respond to American initiatives, Mr. Pence was patiently building the case for stern U.S. actions.</em></p> <p><em>Moreover, the vice presidentʼs thematic repetition was itself important. It suggested that the administrationʼs approach, first broadly articulated in the December 2017 National Security Strategy, had hardened. That document ditched the long-used “friend” and “partner” labels.</em></p> <p><em>Instead it called China — and its de facto ally Russia — “revisionist powers” and “rivals.”</em></p> <p><em>At a Hudson Institute dinner last Wednesday, Mr. Pompeo spoke even more candidly: “It is no longer realistic to ignore the fundamental differences between our two systems and the impact… those systems have on American national security.” Chinaʼs ruling elite, he said, belong to “a Marxist-Leninist party focused on struggle and international domination.” We know of Chinese hostility to the U.S., Mr. Pompeo pointed out, by listening to “the words of their leaders.”</em></p> </blockquote> <p><strong>The U.S.-China trade war is not the anomaly globalists portray.</strong> It’s not even that unusual viewed from a historical perspective. Retaliation from trading partners is all in the game.</p> <p><strong>Free trade is a myth. </strong>It doesn’t exist outside classrooms. France subsidizes agriculture. The U.S. subsidizes electric vehicles. China subsidizes a long list of national champions with government contracts, cheap loans and currency manipulation. Every major economy subsidizes one or more sectors using fiscal and monetary tools and tariffs and nontariff barriers to trade.</p> <p>Trump’s tariffs on China in January 2018 were reputedly the start of a trade war, but the war was actually begun by China 24 years earlier when China devalued its currency (1994) and continued when China joined the WTO (2001) and immediately started to break WTO rules.</p> <p>The trade battle is now joined, but no critical issues have been resolved and none will be in the near future. The U.S. cannot accept Chinese assurances without verification that intrudes on Chinese sovereignty.</p> <p><strong>China cannot agree to U.S. demands without impeding its theft of U.S. intellectual property. This theft is essential to escape the middle income trap that afflicts developing economies.</strong></p> <p>The EU is caught in the crossfire. The U.S. is threatening to impose tariffs on German autos and French agricultural exports as part of an effort to force an end to German and French subsidies to favored interests.</p> <p>The U.S. will win the trade wars despite costs. China will lose the trade wars while maintaining advantages in intellectual property theft. <strong>Trade wars will continue for years, even decades, until China abandons communism or the U.S. concedes the high ground in global hegemony.</strong></p> <p><strong>Neither is likely soon.</strong></p> </div> </div> Sat, 07 Dec 2019 16:30:00 +0000 Tyler Durden 656005 at https://www.zerohedge.com