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Daily Digest 1/20 - The Gilets Jaunes Are 'Unstoppable,’ Has the Gov't Legalized Secret Defense Spending?

Sunday, January 20, 2019, 1:42 PM

Economy

Space Force, F-15X, Light Attack: What Will the Air Force Seek in Latest Budget? (newsbuoy)

"The balance in different airframes are going to reveal a little something about what missions and capabilities the Air Force is prioritizing," said Susanna Blume, a senior fellow in the defense program at the Center for a New American Security. She served previously as deputy chief of staff for programs and plans for Deputy Defense Secretary Robert Work.

Modern Monetary Theory or: How I Learned to Stop Worrying and Love the National Debt (Alex M., debu)

Nothing like a good porn fantasy to change the reality of nuclear annihilation from fear and loathing to “actually, doomsday machines can be fun and rewarding”. Yes, mistakes were made, but when all is said and done the world will be a better place for our having blown it up. Don’t you feel better already?

This is the power of theory in the service of political expediency, the power of post hoc rationalizations gussied up as “theory”.

Locked Up: How the Modern Prison-Industrial Complex Puts So Many Americans in Jail (Alex)

For firearm owners in particular, the growth in this “prison-industrial complex” is troubling because felons are forbidden from owning firearms and ammunition under the 1968 Gun Control Act. As the number of laws has grown and the cultural shift for police has gone from a focus on keeping the peace to enforcing the law, more and more Americans are being stripped of their 2nd Amendment rights (not to mention other civil rights like voting – as of 2017, 6.1 million Americans cannot vote because of their criminal records). All told, eight percent of all Americans cannot own firearms because of a felony conviction.

‘The gilets jaunes are unstoppable’ (Ivan R.)

Technically, our globalised economic model performs well. It produces a lot of wealth. But it doesn’t need the majority of the population to function. It has no real need for the manual workers, labourers and even small-business owners outside of the big cities. Paris creates enough wealth for the whole of France, and London does the same in Britain. But you cannot build a society around this. The gilets jaunes is a revolt of the working classes who live in these places.

Stocks and Precious Metals Charts - Who Could See It Coming? - Dead Reckoning the Minsky Moment (thc0655)

"The period of financial distress is a gradual decline after the peak of a speculative bubble that precedes the final and massive panic and crash, driven by the insiders having exited but the sucker outsiders hanging on hoping for a revival, but finally giving up in the final collapse."

Has the Government Legalized Secret Defense Spending? (Alex M.)

The only thing that did not make the news was an announcement by a little-known government body called the Federal Accounting Standards Advisory Board — FASAB — that essentially legalized secret national security spending. The new guidance, “SFFAS 56 – CLASSIFIED ACTIVITIES” permits government agencies to “modify” public financial statements and move expenditures from one line item to another. It also expressly allows federal agencies to refrain from telling taxpayers if and when public financial statements have been altered.

Will Globalists Sacrifice The Dollar To Get Their 'New World Order'? (thc0655)

There are many people today in the liberty movement that understand this dynamic, but even in alternative economic circles there are some that do not understand the full picture when it comes to central banks and fiat mechanisms. There is a false notion that paper currencies are the life blood of the establishment and that they will seek to protect these currencies at all costs. This might have been true 20 years ago or more, but it is not true today. Things change.

Ebola Outbreak in D.R. Congo Spreading Exponentially Faster (thc0655)

Normally, the medical professionals use contact tracing to identify potential chains of transmission before they occur. Once a person is suspected of having Ebola, all the people that he might have had contact with are identified and given a vaccine. But the ongoing war often makes contact tracing impossible, with the result that nearly 70 percent of the newly discovered cases have fallen outside of known chains of transmission. Another problem is that rape is common in any war zone and so Ebola can be spread among women, soldiers, gangs, arms smugglers, and rapists. More than one-third of the Ebola cases have been in children and the majority of identified adult infections have been in women.

Ice loss from Antarctica has sextupled since the 1970s, new research finds (John J.)

The findings are the latest sign that the world could face catastrophic consequences if climate change continues unabated. In addition to more-frequent droughts, heat waves, severe storms and other extreme weather that could come with a continually warming Earth, scientists already have predicted that seas could rise nearly three feet globally by 2100 if the world does not sharply decrease its carbon output. But in recent years, there has been growing concern that the Antarctic could push that even higher.

The stunning chart revealing Australia's record-breaking run of rising temperatures (John J.)

The record-breaking events are outlined in the Bureau of Meteorology’s 2018 climate statement released on Thursday, which confirmed the nation experienced its third-warmest year on record in 2018. The bureau attributed the year of meteorological extremes to both climate change and natural variability.

Rapid shift in Earth's magnetism triggering urgent update in navigation program (Thomas R.)

Phillips says normally the model, based data from a global network of 160 surface observatories and satellites in low-Earth orbit, is updated every five years and that interval has been fine for the minor shifts in the magnetic pole, which are caused by fluctuations in the Earth's molten core. But now, things are suddenly changing faster than before, Phillips said.

New "Planetary Health Diet" Aims To Save Earth Before It's Too Late (Adam)

By reinventing the way we produce and consume food, society as a whole can begin to cut down on destruction it does to the environment. Food systems are the “main user of fresh water, a leading driver of biodiversity loss, land-use change and cause eutrophication or dead zones in lakes and coastal areas,” explains the EAT-Lancet Commission. By changing people’s diets and how food is produced—especially meat and dairy, which are two of the biggest causes of greenhouse gas emissions—it might just be possible to reduce carbon emissions and stop hurting the planet.

Gold & Silver

Click to read the PM Daily Market Commentary: 1/18/19

Provided daily by the Peak Prosperity Gold & Silver Group

Article suggestions for the Daily Digest can be sent to [email protected]. All suggestions are filtered by the Daily Digest team and preference is given to those that are in alignment with the message of the Crash Course and the "3 Es."

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sand_puppy's picture
sand_puppy
Status: Diamond Member (Offline)
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Posts: 2135
Mueller: cover-up specialist for 5 adminstrations

It takes great artistry to "botch" an investigation skillfully. 

Mueller’s History of Cover-Ups

"Oh well, mistakes were made.  Unfortunately we could not identify the perpetrators."  "Sloppy record keeping lead to losing lots of the evidence."

Rewarded repeatedly for investigative failures, Mueller went on to lead the FBI for 12 years and promote those under him who also made mistakes preventing real prosecutions.

Mueller’s talents were noticed early in his career at the Justice Department. As a U.S. Attorney in Boston during the mid-80s, he helped falsely convict four men for murders they didn’t commit in order to protect a powerful FBI informant—mobster James “Whitey” Bulger.”

...

Mueller was then appointed as chief investigator of the 1988 bombing of Pan Am 103 in Scotland. The account Mueller produced was a flimsy story that accused a Libyan named Megrahi of coordinating placement of a suitcase bomb....With the Pan Am 103 case, Mueller was covering up facts related to some of the of victims of the bombing—a group of U.S. intelligence specialists led by Major Charles McKee of the Defense Intelligence Agency. McKee had gone to Beirut to find and rescue hostages and, while there, learned about CIA involvement in a drug smuggling operation run through an agency project called COREA. As TIME magazine reported, the likely explanation for the bombing, supported by independent intelligence experts, was that U.S. operatives “targeted Flight 103 in order to kill the hostage-rescue team.” This would prevent disclosure of what McKee’s team had learned. That theory was also supported by the fact that the CIA showed up immediately at the scene of the crash, took McKee’s briefcase, and returned it empty.

...

Mueller’s diversions led to his leadership of the Criminal Division at the U.S. Department of Justice, putting him in charge of investigations regarding BCCI. ... Describing Mueller’s role in the BCCI cover-up more clearly, reporter Chris Floyd wrote:

“When a few prosecutors finally began targeting BCCI’s operations in the late Eighties, President George Herbert Walker Bush boldly moved in with a federal probe directed by Justice Department investigator Robert Mueller. The U.S. Senate later found that the probe had been unaccountably ‘botched’–witnesses went missing, CIA records got ‘lost,’… Lower-ranking prosecutors told of heavy pressure from on high to ‘lay off.’ Most of the big BCCI players went unpunished or, like [Khalib bin] Mahfouz, got off with wrist-slap fines and sanctions. Mueller, of course, wound up as head of the FBI, appointed to the post in July 2001–by George W. Bush.”

...

Yes, in the summer of 2001, when the new Bush Administration suspected it would soon need a cover-up, Mueller was brought in for the job. ... Under Mueller, the FBI began the whitewash of 9/11 immediately. Mueller himself lied repeatedly in the direct aftermath with respect to FBI knowledge of the accused hijackers. He claimed that the alleged hijackers left no paper trail, and suggested that they exercised “extraordinary secrecy” and “discipline never broke down.” In fact, “ring leader” Mohamed Atta went to great lengths to draw attention to himself prior to the attacks. Moreover, the evidence the accused men supposedly left behind was obvious and implausibly convenientfor the FBI.

Meanwhile, Mueller’s FBI immediately seized control of the investigations at the World Trade Center, the Pentagon, and in Shanksville, PA where United Flight 93 was destroyed. Under Mueller, leaders of the Bureau went on to arrest and intimidate witnesses, destroy or withhold evidence, and prevent any independent investigation. With Mueller in the lead, the FBI failed to cooperate with the government investigations into 9/11 and failed miserably to perform basic investigatory tasks. Instead, Mueller celebrated some of the most egregious pre-9/11 failures of the FBI by giving those involved promotions, awards, and cash bonuses.

sand_puppy's picture
sand_puppy
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Lessions on the Elite - Deplorable Relationship

From the animation A Bugs Life.  The more powerful Grasshoppers keep the little Ants in line.

ezlxq1949's picture
ezlxq1949
Status: Gold Member (Offline)
Joined: Apr 29 2009
Posts: 329
Hell or high water

The Gilets Jaunes are unstoppable

Still waiting for them to appear in Australia.

The stunning chart revealing Australia's record-breaking run of rising temperatures

I'm living through this right now. The cool temperate south-east of Australia has had weeks of unusual heat. It's not an enlivening heat nor a tropical heat, but a stifling blanket, an exhausting heat, an agriculture-damaging heat. Exhausting, draining, befuddling, destructive. To people in many parts of the world this may be entirely normal. Well, it ain't normal here. And our benighted federal and state governments insist on approving more coal mines.

"Of course it will rain again, and rain so much that once again we will complain about it." — Deputy PM a few days ago on radio. In other words, climate change is not an issue.

Psychopaths at the top, psychopaths in middle management, psychopaths denying anything is going wrong, psychopaths voting other psychopaths into office. It's psychopaths all the way down!

Will Globalists Sacrifice The Dollar To Get Their 'New World Order'?

Yes. "Whatever it takes."

cmartenson's picture
cmartenson
Status: Diamond Member (Offline)
Joined: Jun 7 2007
Posts: 6152
Why I'm Not Worried About China's Growth

Everyone in the financial press is fretting about whether China’s economic growth is strong enough, or too weak, or whether it will resume its assumed and presumed 7% rate of growth.

I’m not worried about it at all.  It’s an enormous failure already on the tracks with huge inertia headed for a bridge over a very deep chasm that has already collapsed.

China's "model" is (soon to be was) predicated on perpetual 7% GDP growth underpinned by 14% - 25% credit growth.

Let's see here, using the handy rule of 72 we find that 7% growth translated into a full doubling every 10 years.

If China's PPP economy is equal to the US now, then in ten more years it will be 2x larger than the current US GDP.  It bears noting that its debt levels will have compounded by 4x to 16x over the same time period.

Then ten years after that it will be 4x larger than the current US economy, which already consumes roughly 25% of the world's oil output.  Which means that China will need to consume 100% of current oil output in order to achieve 20 more years of 7% GDP growth.

Oops.  

That would place China as the 100% consumer of current world oil output (which will fall by quite a bit 20 years from now, so it will be attempting to consume more than 100%, but you get the point).  Maybe the US and Europe and Japan just sit back and let that happen, or maybe they don't.

In other words, endless growth is a stupid model, and China is no better or worse in regards to being chained to that idiotic model than any other “developed” country.

The quick summary is that this all falls apart at some point, and the longer we wait to address the obviously broken economic models the fewer the options left and the higher the chance of a chaotic breakdown.

As Australia is discovering, ecological breakdown is already barreling down on us all, which cannot be remedied with another round of QE, nor can it be wished away by feckless politicians hoping for one more re-election so they can finally do the good their younger selves thought they could deliver on (but the timing just hasn’t ever been right so far in their careers for some reason).

 

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 4310
Central Banks' Window to Restock Ammo Is Closing

Central Banks' Window to Restock Ammo Is Closing

Bloomberg-18 hours ago
They estimate the average benchmark of developed-world central banks remains almost 2 percentage points below the pre-crisis level, and recent economic ...

Japan recession risk rises on US-China trade war, global slowdown ...

Reuters-11 hours ago
The central bank will likely lower its forecast for core consumer inflation to around 1 percent in the fiscal year beginning in April from 1.4 percent, sources told ...

Experts warn of looming financial crisis in wake of high debt levels

Free Malaysia Today-9 hours ago
The Asian Shadow Financial Regulatory Committee (ASFRC) said global debt levels were continuing to rise at approximately US$244 trillion (RM1,002 trillion), ...

Stocks mixed as Chinese economy slows to weakest since '90

Seymour Tribune-3 hours ago

The U.S. trade deficit with China grew to a record $323.3 billion in 2018. The two countries have raised taxes on billions of dollars of each other's goods in the ..

Italy's Slowing Economy Adds Pressure on Populists Over Budget

BloombergQuint-16 hours ago
... that its budget would likely increase the deficit instead of promoting growth. ... which could cause a shortfall of about 4 billion euros ($4.5 billion) in public ...

 

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