Guaranteed Income And Living Wage Schemes Cannot Possibly Work

Authored by Mike Shedlock via MishTalk.com,
Facebook founder Mark Zuckerberg Supports Universal Basic Income.
In its basic form, universal basic income means “everyone gets a paycheck, whether they have a job or not.”
Many expect even more….

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About That “Coordinated Global Economic Recovery”

Day-in, day-out, asset-gatherers and commision-rakers remind hapless investors that all is well in stock markets because “there is a coordinated global economic recovery” going on… “that hasn’t happened for years.” As you might imagine… that is not exactly true when one looks at the hard data.

As global growth expectations slipped throughout 2015 and into Q1 2016, so global stocks (and bond yields) also declined.

However, since then stocks have gone only higher as global growth expectations have merely got back to even – not exactly the exciting global recovery that is so often pitched (especially as China’s credit impulse begins to strike).

 

So – to summarize – global stocks have risen almost 30% from Q1 2016 lows and both 2017 and 2018 GDP growth expectations are unchanged.

What changed? Simple… G3 Central Banks printed over $3 trillion to save the world again.

So what happens next when The Fed (and/or The ECB) begin to normalize? “paint drying”, we suspect will not describe it.

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US Is Sending Another Aircraft Carrier To Korea: Yonhap

After carrying out bombing drills over the Korean peninsula on Monday following North Korea’s firing of an intermediate-range missile over the Japanese island of Hokkaido, US and South Korean forces are planning to continue their displays of military might early next month, according to a report from Yonhap, the South Korean news agency. However, in a move that is sure to provoke a barrage of threats from North Korea, the US is reportedly sending a nuclear-armed aircraft carrier to the waters off the Korean peninsula, where it will take part in an upcoming round of military drills.

Earlier this year, the US sent three aircraft carriers to waters near North Korea in an unprecedented show of force. However, it’s unclear if any of those carriers are still positioned so closely to the peninsula. Here’s the latest map of US naval strike groups, which was compiled by Stratfor using publicly-available information. Deployments considered “sensitive” would not be included on this map.

As Yonhap reports, the aircraft carrier will participate in a series of naval drills with South Korean forces. Yonhap didn’t reveal the name of the carrier. South Korea and the US will also conduct a “combined missile alert drill” in late September or early October, for which they will be joined by Japan, Yonhap said, citing a source in South Korea’s Ministry of Defense. The US is also expected to once again send B-1B strategic bombers stationed in Guam to Korea later this month in a warning to the North.

However, given UN Ambassador Nikki Haley’s revelation that the UN Security Council may have reached the limits of its ability to economically pressure the isolated country, it’s understandable that the US would want to signal an escalation in its flexing of military muscle, to show. After all, the US needs to maintain the illusion that “military options” remain on the table. Even though, as former White House Chief Strategist Steve Bannon confirmed in an interview before he was ousted from the West Wing, there aren’t any options available to the US that wouldn’t lead to millions of civilian deaths in Seoul from conventional weapons fire.

US, Japanese and South Korean officials believe North Korea is “in the final stages” of developing a long-range ballistic missile that would be able to reliably strike the Continental US. The North believes obtaining such a weapon is essential to the regime’s survival, but the prospect of a nuclear-armed North Korea – which is already, in a sense, a reality – has horrified the international community.

According to Yonhap, the South Korean defense ministry expects the North to soon carry out more missile tests, as well as an expected seventh nuclear test.

To be sure, news of the aircraft carrier being sent to the waters around the Korean peninsula may remind readers of President Donald Trump’s promise to send a strike force of nuclear-armed submarines to the waters of the peninsula earlier this year, only for media reports to confirm that the submarines were, in fact, headed in the other direction.

Assuming the carrier is, in fact, headed to its reported post, such an act would be interpreted as an unprecedented provocation by Kim Jong Un and his generals, and likely demand a response in kind.

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America’s Slow-Motion Military Coup

Authored by Stephen Kinzer via The Boston Globe,
In a democracy, no one should be comforted to hear that generals have imposed discipline on an elected head of state. That was never supposed to happen in the United States. Now it has.

Among the most e…

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Offshore Yuan Tumbles To 2-Week Lows, Biggest Drop Since Election

Offshore yuan has now dropped almost 16 handles in the last 8 days since Chinese officials voiced their concerns “about a rallying yuan as exporters come under strain.”

Tonight’s tumble pushes the Yuan to its lowest since August for the biggest 8-day drop since the election...

 

And offers Trump some excuses to be mad at China for ‘devaluing’ their currency after the dollar dumped for most of the year…

 

Notably, while Yuan is tumbling, Hong Kong Dollar spiked back toewards the peg…

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Why Is Google Hiring 1,000 Journalists To Flood Newsrooms Around America?

So what do you do when you fail to elect your chosen candidate and your former political allies and mainstream media turn against you by painting you not as the ‘progressive’, open-minded, friendly tech company that you used to be but as an evil, racist, Russian-colluding corporate villain intent upon destroying all that is sacred in the world?  Well, you just buy the media, of course.

As Poynter notes today, after a series of public relations debacles in recent weeks, from the firing of James Damore to news last week that Google’s algos served up some fairly disturbing keywords to potential advertising buyers (e.g. “Why Do Black People Ruin Neighborhoods“), Google is ramping up its media presence with the announcement that the Google News Lab will be working with Report For America (RFA) to hire 1,000 journalists all around the country. 

Many local newsrooms have been cut to the bone so often that there’s hardly any bone left. But starting early next year, some may get the chance to rebuild, at least by one.

 

On Monday, a new project was announced at the Google News Lab Summit that aims to place 1,000 journalists in local newsrooms in the next five years. Report For America takes ideas from several existing organizations, including the Peace Corps, Americorps, Teach for America and public media.

 

Unlike foreign or domestic service programs or public media, however, RFA gets no government funding. But they are calling RFA a national service project. That might make some journalists uncomfortable  – the idea of service and patriotism. But at its most fundamental, local journalism is about protecting democracy, said co-founder Charles Sennott, founder and CEO of the GroundTruth Project.

 

“I think journalism needs that kind of passion for public service to bring it back and to really address some of the ailments of the heart of journalism,” he said.

 

Here’s how RFA will work: On one end, emerging journalists will apply to be part of RFA. On the other, newsrooms will apply for a journalist. RFA will pay 50 percent of that journalist’s salary, with the newsroom paying 25 percent and local donors paying the other 25 percent. That reporter will work in the local newsroom for a year, with the opportunity to renew.

Google

 

Of course, while the press release above tries to tout the shared financial responsibility of these 1,000 journalists, presumably as a testament to their ‘independence’, it took about 35 seconds to figure out that the primary funder of the journalists’ salaries, RFA, is funded by none other than Google News Lab.

 

Meanwhile, as a further testament to RFA’s ‘independence, we noticed that their Advisory Board is flooded with reputable, ‘impartial’ news organizations like the New York Times, NPR, CBS, ABC, etc….

 

That said, as Jeff Bezos found out this morning, you can buy the media outlet but that doesn’t necessarily mean you can buy their loyalty (see: Did WaPo Break The Law When It Disciplined A Writer For This Negative Article On Jeff Bezos?)….

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In Florida, You Can’t Use Your Own Solar Panels In A Crisis

Authored by Mike Krieger via Liberty Blitzkrieg blog,
When it comes to the U.S. economy, the “con” part offers the best description of the current relationship between business, government and the preyed upon consumer.

The way things work…

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Government Wiretapped Manafort Since 2014; Was Threatened With Indictment During House Raid, Report

With all of the massive hurricanes safely swirling far away from the continental U.S., for a few days at least, the New York Times and CNN has once again returned to their regularly scheduled programming: 24×7 Coverage Of Russian Collusion.  Of course, just like their prior coverage, today’s ‘bombshell’ reports, which center around Paul Manafort, are heavy on the sensationalized story telling and light on the facts.

First, the New York Times brings us new, fascinating details of precisely how Robert Mueller raided Paul Manafort’s house earlier this summer using “shock-and-awe tactics to intimidate witnesses and potential targets of the inquiry.”

Paul J. Manafort was in bed early one morning in July when federal agents bearing a search warrant picked the lock on his front door and raided his Virginia home. They took binders stuffed with documents and copied his computer files, looking for evidence that Mr. Manafort, President Trump’s former campaign chairman, set up secret offshore bank accounts. They even photographed the expensive suits in his closet.

 

The special counsel, Robert S. Mueller III, then followed the house search with a warning: His prosecutors told Mr. Manafort they planned to indict him, said two people close to the investigation.

 

The moves against Mr. Manafort are just a glimpse of the aggressive tactics used by Mr. Mueller and his team of prosecutors in the four months since taking over the Justice Department’s investigation into Russia’s attempts to disrupt last year’s election, according to lawyers, witnesses and American officials who have described the approach. Dispensing with the plodding pace typical of many white-collar investigations, Mr. Mueller’s team has used what some describe as shock-and-awe tactics to intimidate witnesses and potential targets of the inquiry.

 

“They are setting a tone. It’s important early on to strike terror in the hearts of people in Washington, or else you will be rolled,” said Solomon L. Wisenberg, who was deputy independent counsel in the investigation that led to the impeachment trial of President Bill Clinton in 1999. “You want people saying to themselves, ‘Man, I had better tell these guys the truth.’”

Meanwhile, and perhaps more interestingly, CNN‘s anonymous sources have apparently revealed that Manafort has been under an ongoing wiretap, approved by the FISA courts, going back to 2014 and tied to his consulting arrangements with Ukraine’s former ruling party. 

Ironically, CNN notes the “surveillance was discontinued at some point last year for lack of evidence” but was then restarted with a “new FISA warrant that extended at least into early this year”…all of which sounds an awful lot like the Obama administration using FISA courts to spy on a political opponent.

US investigators wiretapped former Trump campaign chairman Paul Manafort under secret court orders before and after the election, sources tell CNN, an extraordinary step involving a high-ranking campaign official now at the center of the Russia meddling probe.

 

The government snooping continued into early this year, including a period when Manafort was known to talk to President Donald Trump.

 

Some of the intelligence collected includes communications that sparked concerns among investigators that Manafort had encouraged the Russians to help with the campaign, according to three sources familiar with the investigation. Two of these sources, however, cautioned that the evidence is not conclusive.

 

Special counsel Robert Mueller’s team, which is leading the investigation into Russia’s involvement in the election, has been provided details of these communications.

 

A secret order authorized by the court that handles the Foreign Intelligence Surveillance Act (FISA) began after Manafort became the subject of an FBI investigation that began in 2014. It centered on work done by a group of Washington consulting firms for Ukraine’s former ruling party, the sources told CNN.

 

The surveillance was discontinued at some point last year for lack of evidence, according to one of the sources.

 

The FBI then restarted the surveillance after obtaining a new FISA warrant that extended at least into early this year.

Manafort

Speaking of “shock and awe”, the NYT piece goes on to cast an even greater shadow over the Trump campaign by comparing it to an “organized crime syndicate.”

“They seem to be pursuing this more aggressively, taking a much harder line, than you’d expect to see in a typical white collar case,” said Jimmy Gurulé, a Notre Dame law professor and former federal prosecutor. “This is more consistent with how you’d go after an organized crime syndicate.”

 

The tactics reflect some of the hard-charging — and polarizing — personalities of Mr. Mueller’s team, seasoned prosecutors with experience investigating financial fraud, money laundering and organized crime.

 

Admirers of Andrew Weissmann, one of the team’s senior prosecutors, describe him as relentless and uncompromising, while his detractors say his scorched earth tactics have backfired in some previous cases. Greg B. Andres, another one of Mr. Mueller’s prosecutors, once ran an investigation into a Mafia kingpin. Zainab N. Ahmad made her name as a prosecutor pursing high-profile terrorism cases.

Finally, and to our complete shock, the NYT goes on to point out at the bottom of the article (you know about 2,000 words in after most folks have already fallen asleep or just moved on) that Manafort is under investigation for “possible violations of tax laws, money-laundering prohibitions and requirements to disclose foreign lobbying”…all of which seem related to the FBI’s 2014 investigation of Manafort’s consulting practice and not the Trump campaign.

Mr. Manafort is under investigation for possible violations of tax laws, money-laundering prohibitions and requirements to disclose foreign lobbying.

 

The wide-ranging nature of Mr. Mueller’s investigation could put him on a collision course with Mr. Trump, who has said publicly that Mr. Mueller should keep his investigation narrowly focused on last year’s presidential campaign. In an interview with The New York Times, Mr. Trump said Mr. Mueller would be overstepping his boundaries if he investigated his family’s finances unrelated to Russia.

Conclusion, Mueller’s team is desperately trying to scare anyone they can into confessing something/anything that might possibly implicate the Trump campaign.  Of course, as Katy Harriger, a professor of politics at Wake Forest University, points out, the longer Mueller’s investigation goes on, the more vulnerable he will be to allegations that he is on a fishing expedition…

So what say you…”organized crime syndicate” or “fishing expedition”?

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Ben Garrison’s Guide To The Deep State Swamp

Trump’s election confirmed one thing for certain: The Deep State is real.

As Ben Garrison writes, the Deep State’s dedication to removing our president from power is relentless. They will continue to work against him and if Trump backs off from any of his campaign promises, they’ll use that against him and claim victory. This is currently being done with his ambivalence on the ‘dreamers,’ which is a lefty name designed to garner sympathy for illegal aliens.

My cartoon shows some of the central players involved in the Deep State. Prominently featured is George Soros. He wants to break America and Europe and see western civilization replaced by a feudal, collectivist, globalist system.

The source of the swamp is evil itself. We know that many at the top are Satanic pedophiles. It’s sickening that we’re forced to cough up tax dollars as tribute for these monsters. We are forced to endure complicated tax forms and cough up our hard-earned money because the Deep State wants us kept poor, fearful and compliant. The tyrants know most people don’t want to lose their stuff and be hassled by the IRS. We go along and don’t push back enough. That attitude puts us on a slippery slope.

We slide into the swamp and the Deep State wins.

Currently they’re pushing for more taxes and control by means of their ‘climate change’ con, led by Al Gore. Those who question it are ridiculed, marginalized, or even threatened. Slippery slopes are created to keep people going along with the Deep State program when we should be rounding up people such as Soros. Hillary should have been locked up by now. The central bankers should be broken up and their Federal Reserve needs to be ended.

There are many good people on the Internet who are exposing the Deep State and its legion of lies, but can it lead to real change?

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“I Don’t Have Anything To Start Over” – Harvey Victims Pray For Relief As 1000s Remain Stuck In Shelters

It’s been nearly a month since Hurricane Harvey, a storm that some expect to rank among the costliest natural disasters in US history, and still tens of thousands of Texans remain marooned in temporary housing, unable to return to their flood-damaged homes, while thousands more are struggling to secure hotel rooms and other types of temporary housing, according to the Wall Street Journal.

The scramble for housing has caused occupancy rates at hotels in the Houston area to surge as disaster recovery officials scramble to arrange short-term and permanent housing for those left homeless by the storm. The task of securing shelter for the displaced could take months.

“Lillian Godfrey has been sleeping on an air mattress on the floor of her friend’s shuttered night club, alongside her daughter and two pool tables, ever since floodwaters swept into her home here last month.

 

Ms. Godfrey, 74 years old, has a federal voucher for a hotel, but hasn’t had any luck finding a room nearby. Her daughter’s cars were lost in the flooding.

 

“’It’s heartbreaking,’ she said. “The Lord closes some doors and opens others. He’s going to pull me through this sooner or later.’”

As recently as Saturday night, 4,700 people remained in Red Cross shelters across Texas on Saturday night, according to the relief group. Initially as many as 450,000 Texans were displaced by the storm, while as many as 30,000 sought temporary relief in one of the state’s shelters.

Some of the displaced, uneasy with the prospect of living elsewhere, have remained in their water-damaged homes. Others were staying with friends, family or even strangers.

For the first full week of September, hotel occupancy in Houston grew to 80.5%, nearly double the occupancy rate from the same period a year earlier, according to STR Inc., a data company that tracks the hotel industry.

It is still unclear how many people in Texas will lose their homes because of the storm or how many eventually will be able to move back. But some estimates expect the total damages to property and the US economy in terms of lost productivity could tally as high as $190 billion.

“While the final scope and scale of the housing challenge is still being realized, it is already apparent that this will be one of the largest, most complex efforts ever undertaken,” said Michael Byrne, who is heading up relief efforts in Texas for the Federal Emergency Management Agency.

 

According to data collected by WSJ from the state, city and county level, some estimated 50,712 homes suffered major damage in the storm. Meanwhile, 14,952 were destroyed and 76,364 experienced minor damage.

 

Local officials say 130,000 single-family homes in Harris County, which includes Houston, were estimated to have been affected by the rampant flooding. Between 2,000 and 3,000 large apartment buildings likely sustained damage, and up to 5,000 smaller apartment buildings may have been damaged as well.

 

“In terms of the sheer destruction due to the flooding, this is unprecedented in modern times for Houston,” said Tom McCasland, Houston’s director of housing and community development.”

In some towns, the flooding remains so dire that even locations that were initially planned to be shelters flooded, forcing officials to convert public buildings like schools into back up shelters.  

“In Port Arthur, a coastal city of about 55,000, Mayor Derrick Freeman called the housing situation “dire” in the wake of heavy flooding damage.

 

This past week, one shelter at a middle school was full after the city’s main shelter had flooded weeks earlier, and some 250 people had been evicted from their homes by landlords because of flood damage, according to Mr. Freeman.

 

Another several hundred were being housed at shelters around the state, and between 4,000 and 5,000 people were still living in flood-damaged homes, Mr. Freeman said.”

In Port Arthur, city officials had hoped to temporarily house some of the displaced on two barges that a private company was going to transport from nearby Louisiana. However, by Friday, plans had shifted, and large air-conditioned tents were brought in by FEMA and the state to house the evacuees who had been sheltering at the school.

Meanwhile, many victims who were given hotel vouchers by FEMA are finding it difficult to secure rooms thanks to sky high occupancy rates.

“Debby Valsin, a 54-year-old retiree, had been living at the middle school shelter in Port Arthur with her nine-year-old grandson. She said her landlord terminated her lease after the floods because her apartment was uninhabitable, giving her five days to haul out her belongings.

 

Ms. Valsin qualifies for a FEMA hotel voucher but said all the nearby hotels she called are full. For now, with the start of school Monday, Ms. Valsin expected to be moved from the shelter into the tents.

 

‘Your life is upside down,’ she said. ‘I don’t have anything to start over.’”

However, while the situation remains incredibly dire for people on the ground, there may at least be a silver lining in the unprecedented damage brought by the storm – for auto manufacturers, that is.

As we reported last month, while terrible news to car dealers – many of whom face bankruptcy if their insurance policies don’t cover all the damages – the storm may be just what the struggling U.S. OEM and supplier industry ordered, according to a RBC.

That is, if locals have any resources left over to purchase new vehicles after their finished covering any out-of-pocket costs, which, despite President Donald Trump signing an aid package worth $15 billion.
 

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