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[Politics] Schiff Asks Declassification of Pence Aide's Testimony House Intelligence Committee chair Rep. Adam Schiff, D-Calif., is asking Vice President Mike Pence to declassify more material from one of his aides' testimony during the House impeachment inquiry. Published:12/6/2019 8:12:50 PM
[Politics] Judge DROPS 5 charges against David Daleiden over prolife videos, but he will face 9 criminal charges So there’s good news and bad news with David Daleiden. A judge dropped 5 charges against him but he’ll have to face 9 other charges.  Pro-life journalists David Daleiden and Sandra Merritt, . . . Published:12/6/2019 8:12:50 PM
[Conservatism] No Safe Spaces: See It! (John Hinderaker) No Safe Spaces is a terrific documentary about the Left’s assault on free speech. It stars Dennis Prager and Adam Corolla, and is directed by my friend Justin Folk. My organization, Center of the American Experiment, held a pre-screening of the film in Minneapolis last Summer. We sold out a 368-seat theater and the movie got a great reception. I wrote about the event here. Having seen No Safe Spaces, Published:12/6/2019 8:12:50 PM
[479f9d11-f34f-5913-8d4e-74ad3940a7d7] ’21 Jump Street’ star Richard Grieco arrested for public intoxication at Dallas airport: report “21 Jump Street” star Richard Grieco was arrested at Dallas-Fortworth International Airport on Thursday for public intoxication, according to a new report.  Published:12/6/2019 8:12:50 PM
[Markets] The Panopticon Expands The Panopticon Expands

Authored by Eric Peters via,

Precedent always becomes practice.

Having established as legitimate the use of cameras to robotically ticket people for “speeding” and “running” red lights – timed to go red quickly, so as to ensnare as many drivers as possible – it was only a matter of time before the principle was extrapolated – now to include automatically ticketing people for using their cell phones while driving.

But it’s more than just cameras now – and it will be more than just cell phone use that’s targeted for confiscation (of your money, that is).

Because why shouldn’t it be?

If it is okay to steal people’s money (which is what we’re talking about here, shorn of the euphemistic language about “fines”) for those things, why not this thing?

Why not  anything the government and its corporate “partners” who profit from it decide is ungood?

Buckle-up laws, for instance? How about breaking traction?

In Australia – the same place that is the first place to use the AI cameras to “catch” cell phone “violators” – who will be mulcted to the tune of $344-$457 for not harming anyone – performing a burnout is already a major bust that can result in confiscation (and forfeiture) of the offender’s vehicle.

But an armed government worker had to witness  the burnout.

The cameras witness everything – everywhere.

All the time.

network is being erected that will make it impossible to “get away” with ignoring any edict issued by the control freaks and busybodies who lord it over us. Pre-Panopticon, the myriad tyrannical laws on the books had the upside of being to a great extent ignorable.

Armed government workers can’t be everywhere.

Cameras can. They already are.

Have a look around – and up – the next time you’re out driving around. In most parts of the  country these Creepy Cams are perched on top of every traffic signal arm, or curbside.

Armed government worker’s vehicles are being equipped with mobile cameras, also tied into the panopticon. There is talk – and more than just talk – of replacing parking meters in cities with “smart” meters with cameras in them – also tied into the same panopticon.

Soon, wherever you drive – and park – you will be seen. Anything – everything – that is not in ordnung will be noticed. Not by a human. But by an artificial intelligence overlord that – to quote an eerily predictive line from the original Terminator movie, way back in 1984  – cannot be reasoned with or bargained with . . .


Another precedent that was allowed to pass into practice with the adoption of camera enforcement was the vitiation of the government’s obligation to establish guilt before fleecing. This was accomplished by shifting traffic offenses from court-adjudicated to civil administrative actions, where it became (and remains) the obligation of the presumed guilty to – somehow – reverse the camera’s verdict.

The rules of court procedure – of due process – do not apply. The presumed guilty verdict is subject to reversal not by evidence or its lack but rather according to the whim of whomever – or whatever – the government-corporate nexus gives  . . . administrative power to.

You can sometimes send in an “explanation” – and whatever else you like – but it’s perfunctory, like the practice in Elizabethan times of permitting the condemned to say a few words before the executioner lopped off his head. The head-lopping was never in doubt.

Today, if the government wants your money, they’ll take your money (to borrow a turn of phrase from another eerily prescient movie).

There is one upside to all of this, though.

When it becomes impossible to leave your driveway (and maybe not even that) without being observed – and mulcted – people might begin to object. Try to imagine what it would be like if you had to obey every speed limit – to the letter – else payin’ paper. Full stop – and wait a three second count – at every stop sign. Never dare a right-on-red, an HOV “violation” or an unbuckled ride.

No “aggressive” acceleration, either.

Your papers – all of them – always in ordnung.

That’s what’s coming. Unless we decide to reject the principle – and establish a new precedent. There’s still time.

The clock, however, is ticking – and midnight approaches.

*  *  *

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Tyler Durden Fri, 12/06/2019 - 21:05
Published:12/6/2019 8:12:50 PM
[] Alexandria Ocasio-Cortez crows about Amazon actually coming to New York without incentives, but AOC may want to check the return policy on her tweet... Recall earlier this year when AOC was bragging about the fact she helped block Amazon from moving into one of the New York boroughs and bringing in tens of thousands of jobs? She was vastly proud of the fact she killed off jobs and prevented an economic boom in her]] Published:12/6/2019 7:42:28 PM
[Politics] Dershowitz Tells Newsmax TV He's Concerned Giuliani's Cell Calls in Impeach Report Constitutional law expert and Harvard professor Alan Dershowitz on Friday decried the cellphone communications involving Rudy Giuliani that were scooped up for inclusion in the House impeachment inquiry report released earlier this week.In an interview on Newsmax TV's... Published:12/6/2019 7:42:27 PM
[46453aad-0fb5-5117-b0dd-0558dfe1cbdf] Selena Gomez and Julia Michaels connected over their ‘sh—ty’ exes while songwriting Selena Gomez and her longtime songwriting partner Julia Michaels have done some of their best work while reeling over the ex-men in their life who have broken their hearts. Published:12/6/2019 7:42:27 PM
[worldNews] Trump says he will hold off designating Mexican drug cartels as terrorist groups President Donald Trump said on Friday he will temporarily hold off designating Mexican drug cartels as terrorist organizations at the request of Mexico's president.
Published:12/6/2019 7:42:27 PM
[Markets] The Fed Detests Free Markets, Part 2 The Fed Detests Free Markets, Part 2

Authored by Raul Ilargi Meijer via The Automatic Earth blog,

It wasn’t really the plan to make this a series, but it seems to have turned into one. Part 1 is here: The Fed Detests Free Markets. Part 3 will follow soon. And yeah, I did think perhaps I should have called this one “End The Fed” Is No Longer Enough. Because that’s the idea here. But what’s in a name?

Okay, let’s talk a bit more about finance again. Though I still think this requires caution, because the meaning of the terminology used in such conversations appears to have acquired ever more diverse meanings for different groups of people. Up to the point where you must ask: are we really still talking about the same thing here?

I’ve said multiple times before that there are no more markets really, or investors, because central banks have killed off the markets. There are still “contraptions” that look like them, like the real thing, but they’re fake. You can see this every time a Fed chief opens their mouth and every single person involved in the fake markets hangs on their lips.

They do that because that Fed head actually determines what anything will be worth tomorrow, not the markets, since the Fed buys everything up, and puts interest rates down so more people can buy grossly overpriced property and assets, and allows companies to buy their own shares so nobody knows what they’re worth anymore.

The Fed today is in the business of propping up zombies. And when I say the Fed, that also means the ECB and BOJ, western central banks. I won’t get into the PBOC here, but they’re not far behind.

Recently, Christine Lagarde, the new ECB head, said the most incredible thing (at least to my ears, I guess not to hers):

We should be happier to have a job than to have our savings protected … I think that it is in this spirit that monetary policy has been decided by my predecessors and I think they made quite a beneficial choice.

Who on earth ever claimed jobs vs savings is some necessary or inevitable “choice”? Why should it be? If this were true, isn’t that a sign that something is terribly wrong? That you can have a job, but you can’t save anything? And aren’t the central banks to blame for that then?

The entire system has been built for decades around the notion that people save, either to purchase big items, or for their old age, and that people put money into their pension systems. And now central banks come along and in no time destroy what has been valid for all these years. And they never even warned about it.

Anyway, after Lagarde’s remarks, I guess the Fed’s Jay Powell felt he couldn’t be left behind and said:

US central bankers see a “sustained expansion” ahead for the country’s economy, with the full impact of recent interest rate cuts still to be felt and low unemployment boosting household spending, Federal Reserve chairman Jay Powell said on Wednesday in remarks that brushed aside any worries of a looming slowdown.

“The baseline outlook remains favorable,” and the current level of interest rates “appropriate,” Mr Powell said in remarks prepared for delivery to the joint economic committee of congress, a panel that includes some members from the House of Representatives and Senate.

His comments tracked closely to those in his news conference last month after the US central bank cut rates for the third time this year and signaled it was likely done reducing borrowing costs absent a significant change in the economic outlook. Despite “noteworthy risks” including slowing global growth and fallout from the US-China trade war, “my colleagues and I see a sustained expansion of economic activity … as most likely,” Mr Powell said in his prepared remarks for the hearing.

Former Goldman and Bear Stearns banker, and friend of the Automatic Earth, Nomi Prins, tweeted yesterday: “Tuesday, the Fed added $95 billion in liquidity to financial markets. Today, Fed’s vice chair told Congress, “The Board’s latest [review] confirms the current health of the banking system. It depicts a stable, healthy, and resilient banking sector…” The Fed’s official for supervision and regulation told Congress, “The Board’s latest Supervision and Regulation Report… describes steady improvements in safety and soundness, with a gradual decline in outstanding supervisory actions at both the largest & smallest organizations..”

“The baseline outlook remains favorable,” Powell said. That must be why they have been pulling out all the stops and invented new ones, for a decade+. Bernanke, Yellen, the lot of them, all because the baseline has remained so favorable. Why would anyone want to listen to this guy, who so obviously dabbles in complete nonsense? Well, because he’s the one giving the money away.

I think I can tell Mr. Powell what the “full impact of recent interest rate cuts” will be, what it will feel like, and it won’t be anywhere near what he pretends it will be. I must think he knows that too, or he’s an utter fool, and I don’t think he is. He’s just doing a job, while he’s worth $100 million, and that job is very different from how it’s presented to the public.

I’ll tell you about that full impact in part 3 of this Fed essay, which I left on the shelf for a long time because I thought people would declare me nuts, but which now, with increasing chatter of a next recession, maybe can be exposed to daylight. It’s about how grave the damage is that central banks have inflicted on their economies, something I never see discussed. Powell and Draghi/Lagarde and Kuroda are not just the ones giving the money away, they’re also taking it away, just not from the same people. And that latter part is much more important to societies and economies.

A third quote, just to complete the “circle”, deals with BOJ chief Kuroda; it’s from a June 2019 Reuters article entitled How Japan Turned Against Its ‘Bazooka’-Wielding Central Bank Chief:

The direction taken by the BOJ could determine whether Japan’s banking sector avoids a hard landing and whether Abe or his successor will lean on the central bank to take the most extreme step remaining: printing money for the explicit purpose of financing a national debt that is now more than twice the size of Japan’s economy. That could risk a costly downgrade by credit rating agencies for Japan, and, by extension, Japanese corporate borrowers.

The spurning of Kuroda-nomics also has political implications. It is part of a broader public dissatisfaction with what has been labeled “Abenomics” – the prime minister’s plan to reflate the economy out of prolonged stagnation through a combination of aggressive monetary easing, bold fiscal spending and fundamental structural reforms in the economy.

“Kuroda’s radical stimulus kept interest rates low, allowing politicians to delay reforms to get Japan’s fiscal house in order,” said Koichi Haji, executive research fellow at NLI Research Institute. “The foot-dragging could cost Japan dearly. The options left for the BOJ all seem extreme.”

Options left for the BOJ will be even more extreme because Japan’s Birth Rate Has Hit Its Lowest Level Since Records Began In 1899. As a Dutch comment on that report said: “by 2050 there will be one working Japanese for every child or pensioner [..] Japan adopted a law in April designed to make it easier for foreigners to work in Japan. The goal was to attract 350,000 foreign workers. 8 months later, just 400 had arrived”.

And just this week we read that Japan is preparing another $120-$230 stimulus package. Extreme has become normal in no time. Only, the ratings agencies could lower their rating for Japan, because of this. Then again, why should they do it only for Japan? Everyone’s in “extreme” territory, or as Ben Bernanke called it in 2008, “uncharted territory”. Same difference.

But Lagarde is right on one thing: it is “the monetary policy decided by her predecessors” that has destroyed savings -and pensions-. How on earth she can call that “beneficial” is very hard to grasp. What is the goal, what is all these central bankers’ goal? That in the end nobody has any savings or pensions anymore, and they all must go into debt or perish? That would create entire societies made up of zombies. And that’s “policy”?

It’s policy to spin a fantasy tale so people like Jay Powell can claim that “the baseline outlook remains favorable” and “sustained expansion” lies ahead for the economy, and it’s policy to pay for that fantasy with money that belongs to savers and pensioners, and that you can then hand out to a bunch of zombie “investors”. That’s policy.

The role of today’s central bankers is possible only because the public are made to think these are very smart people that have the interest of Joe Blow at heart, and because they have “unlimited resources” to make stocks and bonds and the housing market look good. But what would happen if Joe Blow knew what is going on?

The Fed is now considering “policy” that “makes up for lost inflation”. No, stop laughing, I’m serious. Their extreme policies in uncharted territory have failed so dismally, they’ve obviously not been extreme enough.

Once they’ve gone down the path of extreme stimulus (not that they call it that), there’s no way back. Because they’ve just destroyed the markets, and then they go: let’s see how the markets react to that. Well, they don’t. They’re dead. You killed them. There are parties left who love feeding off of your free money teats, but they’re not the markets or even market participants. They’re rich socialists. But they’re also the only ones the Fed cares about.

Still, a central bank that doesn’t have the population at large, at the center of its policies, is a scourge on a society and/or country. And it should be abolished. But in the case of the Fed, ECB and BOJ, it is probably already too late for that. They have done their damage. “End The Fed” is no longer enough. Societies need to develop emergency measures to counter the damage done, or face untold misery, unrest and eventually, revolution.

People don’t see this, because these central banks -temporarily- taper over the disaster they’ve wrought with their “policies”. Time for the media to step in? No, it’s too late for that too, and besides, what media? They’ve been silent all along, why would they speak up now?

More in part 3.

*  *  *

Please support the Automatic Earth on Paypal and Patreon so we can continue to publish.

Tyler Durden Fri, 12/06/2019 - 20:25
Published:12/6/2019 7:42:27 PM
[Volokh Conspiracy] [Josh Blackman] Virginia Legislature to Repeal the Racial Integrity Act of 1924 Loving v. Virginia did not "strike down" Virginia's ban on interracial marriage Published:12/6/2019 7:42:27 PM
[Politics] Judge DROPS 5 charges against David Daleiden over prolife videos, but he will face 9 criminal charges So there’s good news and bad news with David Daleiden. A judge dropped 5 charges against him but he’ll have to face 9 other charges.  Pro-life journalists David Daleiden and Sandra Merritt, . . . Published:12/6/2019 7:42:27 PM
[topics:people/donald-trump] Donald Trump backs down over plans to designate Mexican cartels as terrorists Published:12/6/2019 7:42:27 PM
[] White House responds to Nadler's deadline: You should end this garbage impeachment inquiry This afternoon was the deadline Nadler gave them to say whether Trump or any of his lawyers would attend future impeachment hearings before the Judiciary Committee. Want to cross-examine witnesses? Want to have your say before the cameras? Now's your chance. Can't whine for months about not being given a]] Published:12/6/2019 7:13:59 PM
[World] If you value human life, you must vote for Donald Trump

In this election season, one thing becomes more evident every day. If you value human life, you have no choice but to vote for Donald Trump. 

“How can you say that,” you shout. “How can anyone claim that only one man or one party stands for human life and the ... Published:12/6/2019 7:13:59 PM

[Politics] Rep. Debbie Lesko Slams 'Rigged' Impeachment Process to Newsmax TV Rep. Debbie Lesko, R-Ariz., told Newsmax TV on Friday she agreed with President Donald Trump that House Democrats should speed up the impeachment process to move to a Senate trial, "where there's actually going to be some fairness.""Over here in the House, this process has... Published:12/6/2019 7:13:59 PM
[Entertainment] Go Inside Giada DeLaurentiis' $7 Million Home--Complete With an Epic Backyard Giada de Laurentiis, Pacific Palisades HouseA house fit for a queen--or a chef! Celebrity chef Giada De Laurentiis, star of Food Network's Giada at Home is selling her gorgeous Los Angeles home for a pretty penny. The food...
Published:12/6/2019 7:13:59 PM
[Supreme Court] Ginsburg Halts Democrats’ Attempts To Get Trump Financial Records

The following article, Ginsburg Halts Democrats’ Attempts To Get Trump Financial Records, was first published on Godfather Politics.

Ginsburg stays an order demanding banks turn over President Donald Trump’s financial records. In Supreme Court Justice Ruth Bader Ginsburg’s order, Ginsburg wrote: “UPON CONSIDERATION of the application of counsel for the applicants, IT IS ORDERED that the mandate of the United States Supreme Court of Appeals for the Second Circuit, case No. 19-1540, issued ...

Continue reading: Ginsburg Halts Democrats’ Attempts To Get Trump Financial Records ...

Published:12/6/2019 7:13:59 PM
[worldNews] Giant fire near Sydney may take weeks to be put out A giant blaze that has blanketed Sydney, Australia's largest city, in a hazardous smoke may take many weeks to put out, fire services said late on Friday, with the whole region fighting nearly 100 wild fires and expectations that the worst is yet to come.
Published:12/6/2019 7:13:59 PM
[a03f8914-d2a5-5ba3-8a6a-6d295aae130c] Pink debuts newly-buzzed head on Instagram: ‘Letting go’ Pink is debuting a new hairdo just in time to ring in the new year. Published:12/6/2019 7:13:59 PM
[Markets] November Heavy Duty Truck Orders Resume Collapse, Down 39% To Weakest Since 2015 November Heavy Duty Truck Orders Resume Collapse, Down 39% To Weakest Since 2015

The collapse in heavy duty trucking is getting tougher to blame on difficult YOY comps and is more and more looking like the symptom of a real manufacturing recession in the U.S.

Class 8 orders against collapsed in November, culminating a dismal year that some thought had seen a reprive with October's improved bookings. But new data from FreightWaves shows that the collapse has continued its trend, indicating that the sluggish economy is to blame for lackluster replacement demand. 

Orders totaled 17,300 units for the month, which marks the slowest November since 2015 and a 39% collapse from November 2018. The slowdown in orders is prompting layoffs of hundreds of production workers by companies like Daimler Trucks North America, Volvo Trucks North America, Paccar Inc. and Navistar International Corp.

Other names in the Class 8 supply chain are also dealing with the negative effects. For instance, engine manufacturer Cummins Inc. is "laying off 2,000 white-collar employees globally in the first quarter of 2020".

Meanwhile, November used to be a month when fleets would be busy placing orders for the upcoming year. After October's slight tick up in orders, many analysts thought November could follow suit. That didn't happen, and sequentially November's order book was down 21% from October. 

Tim DeNoyer, ACT Research vice president and senior analyst said: “The freight market downturn worsened in the past month, and uncertainty surrounding trade and tariffs continue to weigh on truck buyers’ psyches.” 

Don Ake, FTR vice president of commercial vehicles commented: "The stalling of freight growth is causing fleets to exercise caution in placing orders for 2020. There will still be plenty of freight to haul, so we expect fleets will continue to be profitable and to replace older equipment. However, there won’t be a need for much additional equipment on the roads.”

“The industry thrives on stability, but we are now on a rocky road,” Ake concluded.

The rolling 12-month average for Class 8 orders is now 180,000 units and the industry backlog has collapsed to less than half of what it was in December 2018.

Tyler Durden Fri, 12/06/2019 - 20:05
Published:12/6/2019 7:13:58 PM
[topics:things/deafness-and-hearing-impairment] Deaf baby girl's joy as new hearing aids are turned on Published:12/6/2019 6:47:02 PM
[Politics] Ruth Bader Ginsburg hands Trump a VICTORY in court, libs hardest hit Justice Ruth Bader Ginsburg, who is worshipped by the left for loving and preserving abortion, today have Trump a victory in court. From the Hill: The Supreme Court on Friday granted President Trump’s . . . Published:12/6/2019 6:47:02 PM
[Politics] Ruth Bader Ginsburg hands Trump a VICTORY in court, libs hardest hit Justice Ruth Bader Ginsburg, who is worshipped by the left for loving and preserving abortion, today have Trump a victory in court. From the Hill: The Supreme Court on Friday granted President Trump’s . . . Published:12/6/2019 6:47:02 PM
[Markets] The Moral Case For Decoupling From China The Moral Case For Decoupling From China

Authored by David Archibald via,

One of the first people to see that the infatuation with China would end in tears was Robert Kaplan. In 2005 he wrote an article entitled “How We Would Fight China”, though he didn’t say when or why we will be doing that fighting, or even the how as per the title.

Well the tears are flowing now as the relationship is mostly over. China’s share of world exports peaked just shy of 15% in 2015 and is now contracting. China’s share of world GDP is also about 15% and that too will contract.

In Carroll Quigley’s ‘Tragedy and Hope’ first published in 1966, he wrote that the Chinese Communist regime in the first years after its founding was “insanely aggressive.” The Chicoms reverted to type about ten years ago and went back to ‘snarl diplomacy.’  Only being poor had kept them from trying to impose their will on others.

The corporate retreat from China is proceeding as fast as factory production can be relocated. But even if China wasn’t in breach of its WTO obligations to have a free market economy and a convertible currency, didn’t steal intellectual property, and wasn’t bullying its neighbours, there is another reason why we should completely decouple from China and it is a reason that is overarching and critical to our self-worth as a civilisation.

Dr Arthur Waldron, now a professor at the University of Pennsylvania, has been studying China for over 50 years. He married a Chinese lady so his views are not those of an inherent Sinophobe. In an online interview he provides interesting detail on the mistakes made in our relationship with China, starting with Nixon.

Dr Waldron starts the interview by reminding us that:

China is the most evil regime the world has seen since the Third Reich, setting aside the Soviet Union.

The whole 68-minute interview is interesting but where he is a thought leader is in his parable of the delicatessen, transcribed below:

Suppose you lived on 86th st and at the local delicatessen with fine produce, at the front of the shop were all these goodies.

But if you went to the very back of the shop there were sort of vats which were kept just above freezing which had freshly harvested kidneys and livers and hearts and all the things which are used at this moment. …

People are being killed so their organs can be used for transplants. Many of which go to the very elderly Chinese leadership or their children. The son of one of the recent leaders of China has had cancer and he has had many organs replaced.

Well, what would you say about this shop. Would you say, well, I think I’ll just shop in the front of the shop and I won’t pay any attention to the fact that there are all these living human organs, God knows where they came from, that are in the back.

What you would say is ‘What the heck is this shop doing in America?’

You can’t decouple these things. This is one integral system.

And that is one of the reasons we have to quarantine China economically.

A rationalisation for saying ‘Well yes it’s true that there is some question with what Hitler is doing with the gypsies and the Jews but Leica still makes a hell of a good camera.”

In the late 1930s when it was quite evident that Hitler was persecuting and killing minorities, would you have bought any German goods, knowing that in doing so you were an enabler of that evil regime? It is no different today. Every Chinese plastic toy or Christmas decoration plucked off the shelves at Walmart contributes to a future U.S. combat death, but beyond that there are also metaphorical vats of human organs at the back of the Walmart store that the buyer is enabling.

Thankfully killing people for their organs is repugnant to us and that needs to continue if we are to remain a good and kind civilisation. But trading with, speaking with, interacting with people who kill people for their organs debases us.

If we continue trading with such people that makes us morally complicit in their barbarism. For our souls, for our self-respect at least, we must stop trading with such people, and training them in our universities, and letting them into the country.

Dr Waldron’s view is that without our trade the Chinese polity will disintegrate; their state-owned enterprises aren’t enough to sustain their economy. The Chinese people’s best chance of liberation is if we nudge things in that direction.

Thank-you Dr Waldron for your insights.

*  *  *

David Archibald is the author of American Gripen: The Solution to the F-35 Nightmare.

Tyler Durden Fri, 12/06/2019 - 19:45
Published:12/6/2019 6:47:02 PM
[] Reflections Thread: Please Share Your Sad Stories About How Trump Destroyed the Economy and Blew Up the Planet and Killed You Among the many discussions we're not permitted to engage in the Trumpreich is the rather important fact that we all died between November 8, 2016 and February 2017. I think it's about time that we were bold enough to say,... Published:12/6/2019 6:47:02 PM
[] David Brooks: 'I was once a socialist' David Brooks isn't usually my cup of tea but yesterday he wrote an opinion piece about his own youthful socialism which I was happy to see appearing at the NY Times. Brooks says he began to change his mind about socialism while working as a reporter. It dawned on him]] Published:12/6/2019 6:12:28 PM
[Politics] Calif. Rep. Duncan Hunter Announces Resignation After Corruption Plea U.S. Representative Duncan Hunter will resign from Congress following his guilty plea to a federal charge of conspiring to misuse campaign funds, he said on Friday.Hunter's announcement that he would step down came days after the leading California lawmaker, a former U.S.... Published:12/6/2019 6:12:28 PM
[Markets] Things You See At The Top: Woman Calls Pile Of Crap "Artwork", Successfully Sells It For $225,000 Things You See At The Top: Woman Calls Pile Of Crap "Artwork", Successfully Sells It For $225,000

Artist Portia Munson is known for chaotic looking pieces of "art" which often times features thousands of pieces of ephemera per piece. Ephemera comes from the Latin word for "things you can find at a yard sale or tucked away in your grandparents garage". 

Case in point is her work "The Garden", which she made in 1996 and contains more than 1500 separate objects from plastic flowers to stuffed animals, according to Bloomberg. She calls the piece a "meditation on feminism and climate change". 

Because, of course...

As you can see from the photo, the piece looks more like something you'd see on a Beatles album cover or inside of Cheech and Chong's Volkswagen bus.

Wendy Olsoff, owner of New York Gallery P.P.O.W., thought it may be a good idea to feature the art at the Meridians section of Art Basel Miami Beach in hopes that she could sell it. 

Olsoff said: “We thought it would be fantastic. It talks a lot about the environment, which is obviously in dire straits in Florida, and it also taps into feminism and other topics that we always explore in our program.”

Munson says the objects are arranged in a specific manner that minds the “idea of artificial beauty, consumerism, and cultural ideas around the feminine aspects of nature.”

Olsoff hoped to sell the piece and, after shelling out $60,000 to reassemble, fireproof and maintain the pile of crap, she slapped a $225,000 price tag on it.

Olsoff said: “Maybe if we had done a little homework first and figured out how much it would cost [to install], [we] might not have been so hasty. We didn’t really realize it.”

It was last on display two years ago and since then, the thousands of items for the piece had been sitting in storage at Munson's home, collecting dust. Every object had to be catalogued and restored. 

“When you open a box of plastic after three or five years, there’s going to be pieces that are decaying and disgusting,” Olsoff said.

Then, every piece of fabric had to be made fire resistant to meet fire safety guidelines. 

Trey Hollis, the gallery’s director of art fairs, traveled to Munson’s house upstate, brought everything to an open field, strung up the objects on a clothesline, put on a mask, and sprayed everything with fire-retardant coating. 

Olsoff did little outreach to existing collectors. “We do normal previews. But this is a little different,” she said. 

But lo and behold, the piece was only on display for six minutes before Laura Lee Brown and Steve Wilson, the husband and wife founders of the 21c Museum Hotel, took interest in it. It was a match made in liberal heaven. Wilson, standing in the piece, seemed to fit right in with it:

Steve Wilson said: “We own a piece by Munson already, which we bought 12 years ago. And we just bought this piece.”

They settled at a price under the $225,000 asking price - a small price to pay for a new safe zone where Steve can also meditate on feminism and climate change. 

“It’s a done deal. It’s a spectacular piece— one of those things that takes my breath away.”

If you say so, Steve. 

Tyler Durden Fri, 12/06/2019 - 18:45
Published:12/6/2019 6:12:28 PM
[Entertainment] Josh Murray Reveals Why His Experience on The Bachelor Franchise ''Still Stings'' Josh MurrayIf you're looking for love, sometimes you're going to get burned... Josh Murray has come a long way since his time on The Bachelorette and Bachelor In Paradise. The reality TV...
Published:12/6/2019 6:12:27 PM
[worldNews] Trump says will hold off designating Mexican drug cartels as terrorist groups President Donald Trump said on Friday he will temporarily hold off designating Mexican drug cartels as terrorist organizations at the request of Mexico's president.
Published:12/6/2019 6:12:27 PM
[Uncategorized] North Korea Promises U.S. a Nasty ‘Christmas Gift’ if Nuclear Arms Deal Not Reached by New Year The rogue nation is even threatening to call Trump a "dotard" again as it reconstitutes its satellite launch facility. Published:12/6/2019 6:12:27 PM
[] Fire Drill Fridays joins larger group of climate alarmists to shut down D.C. A coalition called Shut Down DC teamed up with actress and activist Jane Fonda and friends to shut down downtown Washington, D.C. Friday. As you know, if it's Friday, it's time for a Fire Drill Fridays climate change protest from Ms. Fonda and her merry medley of minions. This week's]] Published:12/6/2019 5:42:05 PM
[] Watch as Comfortably Smug calls up the minions to go after Media Matters and they, and the press, blinked If you do not follow @ComfortablySmug then there is no other way to say it--you are doing Twitter incorrectly.

Today one of our favorite conservative agitators got fed up with the way the press swallows spoon-fed talking points from the hyper-leftists source Media Matters for America, so he decided to take action.

It]] Published:12/6/2019 5:42:05 PM

[Politics] Ginsburg Puts Temporary Hold on Trump Financial Records Dispute U.S. Supreme Court Justice Ruth Bader Ginsburg on Friday put a temporary hold on a court ruling that would require records held by Deutsche Bank AG and Capital One Financial Corp to be handed over to Democratic-led congressional panels.Trump's lawyers asked the high court... Published:12/6/2019 5:42:05 PM
[Entertainment] Guest lineups for the Sunday news shows Guest lineups for the Sunday news shows Published:12/6/2019 5:42:05 PM
[topics:things/us-politics] Senior UK diplomat quits, says she will not 'peddle half-truths' over Brexit Published:12/6/2019 5:42:05 PM
[Politics] Hillary Clinton denies being a lesbian, and lesbians are REALLY ANGRY at how she did it! Yessss I love it. This is an amaaazing story. SO LOOK there’s these dumb theories and rumors that Hillary Clinton is lesbian. I don’t know why. It’s how social media acts like . . . Published:12/6/2019 5:42:05 PM
[Politics] Hillary Clinton denies being a lesbian, and lesbians are REALLY ANGRY at how she did it! Yessss I love it. This is an amaaazing story. SO LOOK there’s these dumb theories and rumors that Hillary Clinton is lesbian. I don’t know why. It’s how social media acts like . . . Published:12/6/2019 5:42:05 PM
[Markets] Bernstein Analyst Says Masa May Have "Last Laugh" With SoftBank's WeWork Investment Bernstein Analyst Says Masa May Have "Last Laugh" With SoftBank's WeWork Investment

Seemingly unaware that everybody in the world is already laughing at SoftBank's disasterous "investment" in WeWork, one Bernstein analyst believes that Masayoshi Son is going to have the "last laugh". 

Bernstein's Chris Lane says that he believes WeWork can still have a bright future if SoftBank is able to overhaul the business plan (isn't that true for any business?). Lane says the company should focus on the corporate office market and likens WeWork's model to Starbucks, where its branding and global scale can give it an advantage, according to Bloomberg.

He believes the company can achieve profitability by pulling back on "extraneous areas" and slowing its expansion to focus on its existing space. He thinks this will lead to the company being able to grab 8% of an emergent market for pre-fitted offices for corporate clients. 

Lane wrote in his report: “We think investors should think of the basic business as being similar to Starbucks. While profitable, the scale of profits that can be generated from a single site is small. Starbucks as a corporation only makes sense if you plan to open thousands of outlets.”

Lane spoke to management and says he thinks there's an opportunity for WeWork to move beyond the niche of selling office space for entrepreneurs and onto offering flexible real estate for a broad range of companies. Hilariously, he is referring to it as "managed space as a service" and thinks WeWork can make $500 per month on memberships as an "ongoing annuity"

We used to just call this "being a landlord".

Lane is also confident in WeWork's new management:

SoftBank named Marcelo Claure, the former chief executive at Sprint Corp., executive chairman of WeWork and put him in charge of the turnaround effort. Under his leadership, Lane says the company will be able to focus on profitability by stopping any incremental expansion, filling its existing space and slashing overhead by getting rid of expansion staff and non-core businesses. WeWork’s ability to gather data about office-use and optimize layouts -- while not entirely substantiated -- could prove disruptive to the industry, he added.

He estimates that WeWork's revenue will rise to $1.5 billion per quarter, up from $720 million a quarter, if it can push occupancy to 90% on its current portfolio. He predicts the company will once again try to go public, but not until 2023. He thinks the company could have an EV of $28.8 billion by 2025, which would make SoftBank's stake worth $19.1 billion. 

Lane concluded: “We believe WeWork’s valuation is justified if you believe in the long-term, ‘office space’ will be a managed service outsourced to professionals – and that WeWork will be the leading global player. Despite the huge embarrassment WeWork has been for SoftBank this year, we suspect SoftBank will have the last laugh when they bring the company back to market in a few years – bigger and profitable.”

We'll believe it when we see it. 

Recall, after SoftBank's initial investment in WeWork, the company started chasing its losses and re-invested in the company months ago. WeWork's shares are down about 30% from their peak and the $14 billion Softbank has invested has been decimated - WeWork is now valued at less than $8 billion. 

Tyler Durden Fri, 12/06/2019 - 18:25
Published:12/6/2019 5:42:05 PM
[worldNews] Leak of classified papers ahead of UK election 'tied to' Russian operation: Reddit The leak and distribution of classified British-U.S. trade documents online is tied to a previous Russian disinformation campaign, Reddit said on Friday, fuelling fears that Moscow is seeking to interfere in Britain's upcoming election.
Published:12/6/2019 5:42:05 PM
[TC] Elon Musk found not liable in case brought against him by British diver After a three-day trial, Elon Musk was found not liable for defamation in a federal court today in Los Angeles, where Musk reportedly owns a cluster of six homes as well as oversees the operations of both SpaceX and Tesla. British diver Vernon Unsworth had brought the suit against Musk in the fall of 2018 […] Published:12/6/2019 5:42:05 PM
[Entertainment] Checking in With Apple TV+ at 1 Month The Morning ShowWhen Apple made clear their intention to enter into the Streaming Wars with their very own slate of original programming, hoping to take on the Netflix and Amazons of the world, it was with the...
Published:12/6/2019 5:42:05 PM
[] Woman In Polyamorous Relationship With Four Men Is Preggers The woman and the, uh, men who attend to her all look precisely as you'd guess they'd look. Behind the scenes at The Dispatch She knows which of her four, um, studs is the father, but she intends to marry... Published:12/6/2019 5:42:05 PM
[Politics] Stephen Moore to Newsmax TV: Strong Jobs Data 'Undercuts' Trump Impeachment Argument A 50-year low in the nation's unemployment and other robust economic data reported Friday "really undercuts the whole argument" for impeaching President Donald Trump, former economic adviser Stephen Moore told Newsmax TV on Friday."Just give the guy a slap on the wrist,... Published:12/6/2019 5:12:56 PM
[Christmas] Trump: The Cross Is “A Powerful Reminder Of The Meaning Of Christmas”

The following article, Trump: The Cross Is “A Powerful Reminder Of The Meaning Of Christmas”, was first published on Godfather Politics.

President Trump delivered a powerful message about the birth of Jesus Christ as he addressed the crowd during the lighting of the National Christmas Tree. “In 1923, President Calvin Coolidge lit the first National Christmas tree,” President Trump began, as published by LifeSiteNews. “Later that night, African-American community centers held an outdoor worship service on ...

Continue reading: Trump: The Cross Is “A Powerful Reminder Of The Meaning Of Christmas” ...

Published:12/6/2019 5:12:55 PM
[Entertainment] John Crowley continues an uncharacteristically prolific period with the singular ‘And Go Like This’ This is Crowley’s first collection of short fiction since 2004’s “Novelties & Souvenirs.” Published:12/6/2019 5:12:55 PM
[c12de8d2-01e4-539a-8564-ac4af3457ef9] Fans are raving over this local hardware store’s $130 commercial: ‘Best Christmas ad of the year’ Fans couldn’t get enough of a local hardware store’s holiday commercial and are dubbing the adorable spot the “best Christmas ad of the year.” Published:12/6/2019 5:12:55 PM
[Markets] Elon Musk found not liable in British caver defamation trial Elon Musk found not liable in British caver defamation trial Published:12/6/2019 5:12:55 PM
[worldNews] Argentina's Fernandez unveils new cabinet, names key economic roles Argentine President-elect Alberto Fernandez unveiled his cabinet and new central bank chief on Friday evening, laying out his core team days before the center-left leader takes office facing a stalled economy, rising debt fears and painful inflation.
Published:12/6/2019 5:12:55 PM
[Entertainment] How The Aeronauts Drastically Changed the Real-Life Story The Aeronauts (2019) - Felicity Jones, Eddie Redmayne"Women don't belong in balloons!" If you've heard that phrase and/or it makes you laugh, it's likely because you listen to Who? Weekly, the pop culture podcast, with...
Published:12/6/2019 5:12:55 PM
[Markets] "My Faith In Humanity Is Restored": Elon Musk Cleared In "Pedo Guy" Defamation Lawsuit "My Faith In Humanity Is Restored": Elon Musk Cleared In "Pedo Guy" Defamation Lawsuit

A year after Elon Musk hit the jackpot when the SEC decided to merely slap his wrist over his infamous "funding secured" securities fraud, the Tesla creator struck legal gold again on Friday afternoon, when a Los Angeles federal jury found that Elon Musk did not defame British cave explorer Vernon Unsworth by calling him a "pedo guy" on Twitter.

“My faith in humanity is restored,” Musk told reporters in the hallways of the courtroom after shaking hands with his lawyer moments after hearing the verdict in the Los Angeles courtroom. He did not address Unsworth, whose team had told the court earlier on Friday the Tesla CEO should pay at least $190 million in damages for his tweets about the diver.

The lawsuit had pitted a 64-year-old financial adviser earning a salary of about $33,000 against one of the richest and most famous men in the world, who told the jury he was worth about $20 billion.... but was "short on cash." The dispute stems from the Tesla and SpaceX chief’s involvement in the Tham Luang cave rescue in June and July 2018, which saw 12 young football players and their coach successfully extracted from a flooded cave system by a team of British cave divers.

On 13 July 2018, after the successful completion of the rescue, Unsworth said in an interview with CNN that the rescue pod Musk had delivered to the cave site was a “PR stunt”, adding that he should “stick his submarine where it hurts”. A video clip of the interview went viral, drawing the ire of Musk.

The billionaire entrepreneur responded in a series of tweets on 15 July, suggesting that Unsworth’s presence in Thailand was “sus[picious]” and calling him “pedo guy”.

Musk eventually deleted the tweets and apologized to Unsworth.

The jury had been tasked with determining whether a reasonable person would understand the tweets to mean that Musk was calling Unsworth a pedophile. Musk’s attorneys argued that the tweet was not a statement of fact, but an insult, which is considered protected speech. They also attempted to show that Unsworth’s reputation had not been seriously damaged.

According to The Guardian, Unsworth’s attorneys introduced evidence of the broad dissemination of Musk’s tweets, which were reported in 490 English-language articles on 361 websites in 33 countries. They also introduced evidence of Musk’s behavior after the 15 July tweets, including his hiring of a private investigator to seek proof of Unsworth’s “nefarious behaviour”.

As Bloomberg notes, the four-day civil trial marked the first time that Musk has been called as a witness at trial. The Tesla CEO told the jury the tweet shouldn’t have been taken literally and was fired off in anger after Unsworth, in a TV interview, insulted his effort to help rescue members of a Thai soccer team from a flooded cave in 2018.

It’s another win for Musk, 48, who’s managed to get out of legal trouble relatively unscathed. Musk agreed to step down from his role of chairman of Tesla Inc. for three years in 2018 to settle a U.S. Securities and Exchange Commission lawsuit over a tweet the regulator said misled investors. But he’s run Tesla and SpaceX as usual.

Tyler Durden Fri, 12/06/2019 - 18:03
Published:12/6/2019 5:12:55 PM
[] Nikki Haley: The Charleston killer hijacked the meaning of the Confederate flag More than two million views for this clip this afternoon on Twitter. She's getting a bad rap for it abetted by the framing of the tweet below, which comes from -- ta da -- Media Matters. Watch, then we'll discuss.

People on social media are piling on her for suggesting that]] Published:12/6/2019 4:42:41 PM

[Politics] “Another social justice warrior that is simply a hypocrite” – Bill de Blasio ships NYC homeless to North Carolina despite his travel ban to state Mayor Bill de Blasio is shipping his homeless population to North Carolina even though he still has a policy which prohibits NYC from doing business with North Carolina and traveling to the . . . Published:12/6/2019 4:42:40 PM
[Politics] Unemployment Reaches Record Lows Thanks to GOP Tax Cuts Published:12/6/2019 4:42:40 PM
[70d07626-7c66-5bbc-a9bf-61a8af9944d2] Ambassador David Friedman: Trump kept this key promise on Israel exactly 2 years ago – Unlike his predecessors Exactly two years ago Friday, President Trump fulfilled a campaign promise his three predecessors had failed to keep: he recognized Jerusalem as the capital of Israel and ordered the U.S. Embassy in Israel moved from Tel Aviv to Jerusalem. Published:12/6/2019 4:42:40 PM
[Entertainment] For Susan Rice, diplomacy began at home — at age 7 The former Obama official recounts warring parents, policy wins and Washington gossip in her memoir. Published:12/6/2019 4:42:40 PM
[Politics] CNN’s Baldwin: The Most Trusted Name in Pro-Pelosi Views

CNN anchor Brooke Baldwin highlighted the awesomeness of Speaker of the House Nancy Pelosi (D., Calif.) in a Friday segment that lasted nearly 10 minutes.

The post CNN’s Baldwin: The Most Trusted Name in Pro-Pelosi Views appeared first on Washington Free Beacon.

Published:12/6/2019 4:42:40 PM
[Entertainment] Revisiting Goldie Hawn and Kurt Russell's Storybook Romance Through the Years Goldie Hawn, Kurt RussellIt's a love story for the ages. Kurt Russell and Goldie Hawn have been in a loving relationship for more than three decades, which is almost an eternity in Hollywood years. The pair...
Published:12/6/2019 4:42:40 PM
[Aerospace] Boeing Starliner crew capsule and Atlas V rocket complete dress rehearsal ahead of test flight Boeing and launch partner United Launch Alliance (ULA) completed a key step today in pursuit of launching U.S. astronauts aboard their commercial spacecraft. The Boeing CST-100 Starliner crew capsule was atop the ULA Atlas V rocket at Cape Canaveral Air Force Station’s Launch Complext 41 in Florida, with the rocket fully fuelled while the combined […] Published:12/6/2019 4:42:40 PM
[Markets] R. Kelly Accused Of Bribing Illinois Government Employee So He Could Marry 15-Year-Old Aaliyah R. Kelly Accused Of Bribing Illinois Government Employee So He Could Marry 15-Year-Old Aaliyah

R. Kelly has been accused of bribing an Illinois government employee in 1994 to obtain a fake ID so that he could legally marry 15-year-old singer Aaliyah Dana Haughton, according to a federal indictment.

After obtaining the fake ID on August 30, 1994, Kelly and Haughton applied for a marriage license which listed her age as 18, according to the New York Times, citing a personal familiar with the matter. The marriage was eventually annulled, and Haughton died in a 2001 plane crash at the age of 22. She is identified in the indictment as "Jane Doe #1."

Kelly, 52, has maintained that he had "no idea" Aaliyah was 15 when they married.

"My understanding is that she did not claim to be 15, and in order to get married, she had to lie about her age," said Kelly's lawyer, Steven Greenberg, during a 2018 interview with ABC's "Good Morning America."

Not true, according to prosecutors - who say Kelly had a direct role in that lie.

More than two decades ago, Vibe magazine reported that an Illinois marriage license for Mr. Kelly and Aaliyah listed her age as 18. Mr. Kelly, whose real name is Robert Kelly, was 27 at the time. The license was dated Aug. 31, 1994, the day after Mr. Kelly allegedly paid the bribe.

Aaliyah was 14 when she made her first album, “Age Ain’t Nothing but a Number,” which was released in 1994 and produced by Mr. Kelly.

Mr. Kelly, an R&B singer whose hit singles include “Ignition (Remix)” and “I Believe I Can Fly,” has faced longstanding sexual abuse accusations. Law enforcement scrutiny of Mr. Kelly intensified after several women spoke out publicly in a six-part Lifetime documentary, “Surviving R. Kelly,” which was released in January. -New York Times

Kelly was arrested after "Surviving R. Kelly" aired in January, 2019 - after he was accused of mental, physical and sexual abuse by dozens of accusers.

How can Kelly be indicted now?

While criminal activity from 25 years ago would normally fall outside the statute of limitations, preventing prosecution - Kelly faces a broad racketeering charge in Brooklyn, where he is accused of operating a criminal scheme to recruit fans, many underage, to have sex with him.

Because of this, the statute of limitations does not apply, allowing federal prosecutors to introduce claims from any time relevant time.

His associates arranged for the travel and lodging of his sexual partners. But once they arrived, prosecutors said, the women had to follow strict rules. They were not allowed to leave their room without Mr. Kelly’s permission and had to call him “daddy.” They were isolated from their friends and families, making them financially dependent on Mr. Kelly, the indictment said.


The Brooklyn indictment, which was originally filed in June, also accuses Mr. Kelly of kidnapping, forced labor, failing to disclose a sexually transmitted disease to sexual partners and producing child pornography. -New York Times

Kelly has pleaded not guilty, and is currently in federal custody in Chicago. As the Times notes, he was first arrested on charges of possessing child pornography in 2002, stemming from a sex tape which featured him urinating on an underage girl. He was acquitted in 2008 on all counts. 

Moreover, a Brooklyn federal prosecutor said recently that Kelly had paid off witnesses in the Chicago case who were willing to flip on him. According to his lawyer, they simply decided not to testify.

Tyler Durden Fri, 12/06/2019 - 17:25
Published:12/6/2019 4:42:40 PM
[Markets] CNBC’s Cramer says U.S. ‘can walk away from the table’ in China trade talks after jobs report A hotter-than-expected jobs report for November has Wall Street waxing extremely bullish. Published:12/6/2019 4:42:40 PM
[Alex Acosta] The Obama Labor Department in its eleventh year? (Paul Mirengoff) One of my biggest grievances with Alex Acosta’s stewardship of the Department of Labor was his pursuit, based on indefensible statistical analyses, of compensation discrimination claims against Oracle and other high tech Silicon Valley companies. I discussed the flaws in the Labor Department’s analyses here. These actions were filed in January 2017, just as the Obama administration was coming to an end. The idea was to force the Trump Labor Published:12/6/2019 4:42:40 PM
[Issues] Biden Supported Welfare Work Requirements in 1996, Now Calls Them ‘Morally Bankrupt’

Former vice president Joe Biden on Friday called the Trump administration "morally bankrupt" for its expansion of work requirements for food stamps, even though the former vice president was a self-proclaimed architect of America's work for welfare regime. Responding to news that an estimated 700,000 Americans could be removed from welfare rolls by a recently ...

The post Biden Supported Welfare Work Requirements in 1996, Now Calls Them ‘Morally Bankrupt’ appeared first on Washington Free Beacon.

Published:12/6/2019 4:42:40 PM
[] Senate Impeachment Trial Could be Quagmire for Democrats and Joe Biden In Particular No exit strategy. Just as the Democrats did over the last several weeks in the House, Republicans in the Senate majority will have a chance to call their witnesses and dominate the process -- with condemnations of those who duck... Published:12/6/2019 4:42:40 PM
[Politics] White House Won't Participate in Impeachment Hearing The White House on Friday said it will not participate in the House Judiciary Committee's impeachment hearings against President Donald Trump.In a letter to Judiciary Chairman Jerry Nadler, White House counsel Pat Cipollone wrote:"As you know your impeachment inquiry is... Published:12/6/2019 4:11:59 PM
[Politics] Media Matters falsely smears Nikki Haley over interview she did with Glenn Beck The smear merchants at Media Matters have now attacked Nikki Haley claiming she said something she clearly did not say. First, here’s the interview clip that a Media Matters researcher posted: Nikki . . . Published:12/6/2019 4:11:59 PM
[doordash] Juul Gained More Notoriety Than Any Other Brand in 2019: New Report "Juul is the standout winner of 2019." Published:12/6/2019 4:11:59 PM
[Politics] Caltrans investigations find waste and wrongdoing in state transportation programs

California's new inspector general has found more than $13 million in "disallowed" expenditures reported by state and local government agencies.

Published:12/6/2019 4:11:59 PM
[Politics] Sanders Senior Adviser: “Yes, We Will Repeal the Trump Tax Scam” Published:12/6/2019 4:11:59 PM
[Entertainment] The women of ‘Portrait of a Lady on Fire’ blaze a new path What’s inside the frame and what’s outside of it are electrifyingly synonymous in French filmmaker Céline Sciamma’s “Portrait of a Lady on Fire Published:12/6/2019 4:11:59 PM
[Personnel] Bird lays off several Scoot employees Bird has laid off less than two dozen employees, The San Francisco Chronicle first reported. The layoffs affect employees Bird brought on board following its ~$25 million acquisition of Scoot earlier this year. Those affected were salaried employees and/or people with technical backgrounds, according to Bird. “The integration of Bird and Scoot does not impact or […] Published:12/6/2019 4:11:59 PM
[Politics] “Another social justice warrior that is simply a hypocrite” – Bill de Blasio ships NYC homeless to North Carolina despite his travel ban to state Mayor Bill de Blasio is shipping his homeless population to North Carolina even though he still has a policy which prohibits NYC from doing business with North Carolina and traveling to the . . . Published:12/6/2019 4:11:59 PM
[worldNews] Senior UK diplomat quits, says she will not 'peddle half-truths' over Brexit: CNN A senior British diplomat in Washington has resigned, saying she did not want to "peddle half-truths" over Brexit for a government she did not trust, CNN reported on Friday.
Published:12/6/2019 4:11:59 PM
[Uncategorized] Trump won’t participate in Monday impeachment hearing: “Pelosi has already announced the predetermined result” "We don’t see any reason to participate because the process is unfair." Published:12/6/2019 4:11:59 PM
[Issues] Warren to Parents: You Fix the Public Schools

Presidential hopeful Sen. Elizabeth Warren (D., Mass.) says the burden should be on parents to fix public education, urging parents who want options beyond failing schools to pay for improvements and services themselves. "If you think your public school is not working, then go help your public school. Go get more resources for it," Warren ...

The post Warren to Parents: You Fix the Public Schools appeared first on Washington Free Beacon.

Published:12/6/2019 4:11:59 PM
[Markets] Does the stock market even need a U.S.-China trade deal with the jobs report this hot? Some market participants are starting to contemplate the notion that stellar employment figures could help embolden U.S. trade negotiators in a protracted tariff dispute between the U.S. and China—possibly resulting in a delay if not outright scuttling of a long-sought-after resolution. Indeed, a key report of the week from the Labor Department report showed that the U.S. economy created 266,000 new jobs in November, according to the Labor Department, the biggest gain since January and the unemployment rate slipped to 3.5%, a 50-year low. “This positive number could delay any US/China trade agreement, as signs of a stronger US economy will embolden US negotiators,” wrote Chris Gaffney, president of World Markets at TIAA Bank, in a research note after the nonfarm-payrolls report on Friday. Published:12/6/2019 4:11:59 PM
[Markets] Outrage After Police Use Bystanders As "Human Shields" In Florida UPS Truck Shootout Outrage After Police Use Bystanders As "Human Shields" In Florida UPS Truck Shootout

Miami police and other officers appear to have used surrounding bystanders as "human shields" when they responded to the the hijacked UPS truck following an armed heist of a jewelry store Thursday. After suspects led police on a two-county rush-hour chase through Miami which ended in a hail of gunfire in the middle of crowded traffic on Miramar Parkway and Flamingo Road, hundreds of police bullets from 19 officers firing on the truck brought it to an end.

As we reported earlier, four people have been confirmed dead, including the robbers and the UPS driver, since identified as 27-year-old Frank Ordonez, who unluckily had been taken hostage on a day he was reportedly filling in for another driver. Some of his own family members are blaming the "trigger happy" Florida police for killing him in their overeagerness to stop the criminals.

An investigation is underway which will also focus on the other innocent bystander that died — an unidentified person shot while trapped at the intersection in one of the many surrounding vehicles

"In addition to the UPS driver - who was on his knees - the innocent bystander was shot while sitting in a car waiting at the stop light in the intersection," CBS4 News in Miami reporter Jim DeFede has confirmed.

"The number of shots fired by the officers is not currently known but my source said it could exceed 200 rounds," he reported. The deceased bystander had been "inside an idle car at the scene."

DeFede concluded that though police were facing a "chaotic situation" it remains that "innocent people are dead" and "questions need to be asked". 

A number of online commentators noted the dramatic scene of police immediately rushing into stalled traffic on foot and emptying their weapons in return fire appeared something more from a Hollywood action movie. 

Viral video shows the UPS truck stopped amid heavy traffic with bystanders in their vehicles on either side. But the police response is now under criticism given that instead of hanging back and waiting for fewer civilians to be in the line of fire, or even establishing contact through a police negotiator, officers rushed the UPS truck in a blaze of bullets.

Police had the other option of backing off the easily identifiable and trackable large brown UPS truck in order to engage with it in a more open area. 

It is as yet unclear whether a police bullet or one of the robbers actually killed Ordonez. But what is clear from overhead video is that some among the responding officers actually hid behind vehicles with bystanders and families in them, who were trying to flee as gunfire rang out.

Though in the initial press conference in the immediate aftermath the issue wasn't raised, national media is beginning to acknowledge the growing public outrage. NPR reports:

Former [U.S. Department] Department of Housing and Urban Development official Brandon Friedman described the shootout as "appalling." He said the department should be held accountable for "choosing to assault the vehicle in the middle of stopped rush hour traffic" and using occupied vehicles as "human shields."

From one of the overhead news chopper videos, one panicked blue SUV is seen attempting to ram its way out of being in the direct line of fire, between the suspects shooting at police and the police themselves. 

Frank Ordonez via CBS Miami

A family member who set up a GoFundMe page on behalf of the UPS driver victim Frank Ordonez's children and for funeral expenses, which has raised nearly 100,000 in 24 hours, had this to say:

"They [the robbers] kidnapped my brother and took him on a high speed chase, when they came to a stop he was gunned down like a criminal by the Florida police, he didn't deserve to die the way he did..."

The former State Department of Housing and Urban Development official also had this to say of the botched police response: "Here are a few things that those in charge of this disaster should be held accountable for"— 

  • Choosing to assault the vehicle
  • Choosing to assault the vehicle in the middle of stopped rush hour traffic
  • Using civilian cars with people *in them* as human shields

Astoundingly, about a half-dozen police are seen crouching behind and shadowing the vehicle for protection despite what appears to be bystanders inside trying to get away.

It is unknown at this point which among the vehicles had an innocent passenger shot and killed, or if it had been a police bullet or gunfire from the robbers inside the UPS truck.

The FBI is currently assisting an investigation into the incident, which involved officers from five different responding departments and agencies, most reportedly from Miami-Dade police department.

Tyler Durden Fri, 12/06/2019 - 17:05
Published:12/6/2019 4:11:59 PM
[Markets] Personal Finance Daily: The most boring videos on TikTok could save you thousands of dollars, and here’s what you can do to help people who are homeless this holiday season Friday’s top personal finance stories
Published:12/6/2019 4:11:59 PM
[] Harry Reid: These candidates 'better be careful' not to drift too far left The Atlantic published a piece today about Harry Reid's potential role as kingmaker within his own party. Reid is very ill with pancreatic cancer. The piece says bluntly "his pancreatic cancer was forecasted to prove fatal within weeks." But Reid is hanging on and now there's now some concern that]] Published:12/6/2019 3:45:19 PM
[Entertainment] How Pantone's Color of the Year Classic Blue Will Calm You Into 2020 E-Comm: How Pantone's Classic Blue Can Calm You Into 2020We love these products, and we hope you do too. E! has affiliate relationships, so we may get a small share of the revenue from your purchases. Items are sold by the retailer, not E!. In...
Published:12/6/2019 3:45:19 PM
[Markets] Kunstler: "All The Players In This Great Game Of 'Gotcha' Are About To Face The Consequences" Kunstler: "All The Players In This Great Game Of 'Gotcha' Are About To Face The Consequences"

Authored by James Howard Kunstler via,

The last time the Democratic Party blew up in a presidential election year was 1860. It had evolved from Jefferson’s 1800 bloc of yeoman farmers to Andrew Jackson’s rowdy caucus of frontier populists in the 1830s, and settled into a slough of pro-slavery apologists by the 1850s, including two do-nothing Democratic presidents, Pierce and Buchanan. The party held a nominating convention in the spring of 1860 and couldn’t come up with a candidate when a claque of southern “fire-eaters” walked out. They tried again a few months later and cracked up into three separate parties with three nominees — and of course Mr. Lincoln won the election. The result was the bloodiest war in US history.

That’s one way to drain a swamp. Historical obfuscators might say the Civil War was a lofty, legalistic quarrel over “state’s rights,” but of course it was really about the intolerable depravity of slavery. A hundred years later, the mysterious inversions of history converted the old slaver’s party into the Civil Rights party. That had a good fifty-year run. It included a hearty side-dish of anti-war sentiment, and a general disposition against the Big Brother treatment of citizens, including especially the overreach of the CIA and the FBI.

What is the Democratic Party today? Well, it’s the cheerleading squad for “seventeen” government agencies that add up to the craftily-labeled “intel community,” a warm-and-fuzzy coalition of snoops, false witnesses, rogue lawfare cadres, seditionists, and bad-faith artists working sedulously to hide their previous misdeeds with ever-fresh ones. They’re the party against free speech, the party against due process of law, the party determined to provoke war with Russia. They’re the party of sexual confusion, sexual hysteria, and sexual conflict, the party of kangaroo courts, cancel culture, erasing boundaries (including national borders), and of making up rules for all that as they go along — like the Nazis and Soviets used to do. The ideas and policies they advocate are so comprehensively crazy that their old support of slavery looks quaintly straightforward in comparison.

It’s taken a while for the full efflorescence of these political pathologies to present. But now they are finally on display for all to see in what is supposed to be a climactic impeachment melodrama. The impeachment process itself has revealed the party’s genius for inventing new debaucheries of law and government misconduct — the latest being Rep Adam Schiff’s blatantly illegal cadging of his opponents’ phone logs. And now, after three years of unchallenged wickedness, they literally face the moment of truth.

That is, when all the many players in this grand game of Gotcha have to face the consequences of what they have done. The Horowitz report is necessarily limited to the DOJ inspector general’s narrow mission scope: the IG can only interview current employees of the agency and its stepchild, the FBI, which means that key players in the Gotcha game such as former FBI director Comey, former acting director McCabe, fired special agent Peter Stzrok and notably ex-CIA director John Brennan were outside of Mr. Horowitz’s sphere of operations. His scope was also supposedly limited to the issues around FISA warrant mischief — though those complex shenanigans may have led the IG to other related dodges, cons, and crimes outright. The IG has no real law enforcement powers. He can only refer or recommend further action. Nevertheless, a great miasma of anxiety oppresses the Democratic Party now as it awaits whatever Mr. Horowitz has to say about these matters.

The party’s propaganda arms at The New York Times, the WashPo, and cable news networks worked up a frenzy of distractions and ruses this past week — for instance the “bombshell” that International-Man-of-Mystery Joseph Mifsud was not a hireling of the FBI. Of course, nobody ever claimed he was. Rather, he is suspected of being an agent of the Italian intel service with links to British intel, both used by the CIA as beards for its nefarious activities around its own election meddling of 2016. House Speaker Nancy Pelosi’s Democratic caucus has been busy with ersatz impeachment proceedings, which are invidiously scheduled to continue next week as a smokescreen to conceal the Horowitz findings. It’s been a frantic campaign for them at a fraught moment in this long saga — but the odor of desperation is thick and rank.

Of course, behind the Horowitz report loom the specters of Barr & Durham. Whatever they’ve been up to has been hermetically sealed in a globe of silence even more oppressive and nightmarish for the Dems than the IG’s inquiry. Barr & Durham are able to make things stick, most crucially genuine criminal culpability for the entire RussiaGate fiasco and all of its offshoots, including the most recent “Whistleblower” caper — a patently treasonous scheme. Who knows if and when indictments start raining down, but there’s a chance that it will be a very hard rain indeed.

I’m not so sure that the Democratic Party can survive the washing away of its beloved narrative by that hard rain.

They are also faced with a field of manifestly lame presidential candidates, especially the current leader of the pack, Joe Biden, fumbling and doddering his way down the campaign trail in an apparent effort to dodge being investigated for the grifts of his Veep years. All this may be enough to put the party down, like a dog that has peed on the carpet one time too many. Somebody else, from some other hastily assembled party, may have to stand against Mr. Trump in 2020.

Tyler Durden Fri, 12/06/2019 - 16:25
Published:12/6/2019 3:45:19 PM
[Markets] Bond Report: U.S. government bond yields end higher after big gains in new jobs U.S. Treasury yields closed higher Friday after data from the Labor Department showed the U.S. created 266,000 new jobs in November, more than expected and the biggest monthly gain since January.
Published:12/6/2019 3:45:19 PM
[Markets] GLOBAL MARKETS-Stocks rally, dollar gains on robust U.S. jobs data The dollar rose and global equity markets jumped on Friday after data showed U.S. job growth increased by the most in 10 months in November, putting to rest recession fears and briefly taking the spotlight off contentious U.S.-China trade talks. U.S. Treasury yields rose, while gold slipped more than 1%, reflecting a rebound in investor appetite for risk as U.S. unemployment dipped to 3.5%, the lowest in nearly half a century. Stocks on Wall Street neared record highs, with the benchmark S&P 500 closing within 0.24% of its peak set nine days ago. Published:12/6/2019 3:45:19 PM
[40d0f056-0fec-5617-8d66-a00a994e7479] Patrick Schwarzenegger was 'scared' of his dad Arnold as Mr. Freeze in 'Batman & Robin' Patrick Schwarzenegger doesn't have the fondest of memories of his dad as Mr. Freeze in the 1997 film "Batman & Robin."  Published:12/6/2019 3:45:19 PM
[Politics] Media Matters falsely smears Nikki Haley over interview she did with Glenn Beck The smear merchants at Media Matters have now attacked Nikki Haley claiming she said something she clearly did not say. First, here’s the interview clip that a Media Matters researcher posted: Nikki . . . Published:12/6/2019 3:45:19 PM
[worldNews] Johnson, Corbyn wage Brexit battle in final debate before UK election Prime Minister Boris Johnson and opposition Labour leader Jeremy Corbyn went head to head over Brexit on Friday in the last televised debate before next week's election that will determine the path for Britain's departure from the European Union.
Published:12/6/2019 3:45:19 PM
[] Thread: What Words and Expressions Did You Grow Up With That No Longer Make Sense? One I remember -- which is being used less and less -- is "turn the channel." TV's don't have dial channel selectors any more, so "turning" the channel doesn't make physical sense. Now people just say "change" the channel. I... Published:12/6/2019 3:45:19 PM
[] NYT: Yeah, everything we knew about the jobs market was wrong This admission is long overdue, but it's less about the New York Times than on the media in general. For several years, media outlets claimed that we had reached peak employment in the latter half of Barack Obama's presidency despite ample evidence of a massive overhang of discouraged workers]] Published:12/6/2019 3:17:25 PM
[Politics] Sen. Warner Insists: 'No Ukrainian Intervention' in 2016 Election Sen. Mark Warner insisted Friday there was "no Ukranian intervention" in the 2016 election, despite comments that have been made several of his Republican colleagues, and put forth by President Donald Trump in recent weeks.  Published:12/6/2019 3:17:25 PM
[structure:news/uk-news] 'Britain's worst sex offender' Joseph McCann: from Asbo child criminal to serial rape monster Published:12/6/2019 3:17:24 PM
[Politics] Joe Biden’s Most ‘Courageous’ Moments

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The post Joe Biden’s Most ‘Courageous’ Moments appeared first on Washington Free Beacon.

Published:12/6/2019 3:17:24 PM
[Entertainment] Why Liam Payne Is Facing Major Backlash for His New Song ''Both Ways'' Liam Payne If you're wondering why #LiamPayneIsOverParty is trending on Twitter, you came to the right place. Long story short, Liam Payne released his new song "Both Ways" and people...
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[worldNews] UK will have time to strike trade deals after Brexit: Johnson Prime Minister Boris Johnson said on Friday that Britain would have enough time to strike an agreement with the European Union about future trade ties, and reach similar deals with other countries, after its scheduled departure from the EU on Jan. 31.
Published:12/6/2019 3:17:24 PM
[Markets] Dow finishes up over 300 points on strong jobs report Dow finishes up over 300 points on strong jobs report Published:12/6/2019 3:17:24 PM
[Advertising Tech] Will the 2020s be online advertising’s holistic decade? With less than two months left in the decade, advertising is again entering a new phase of rapid expansion with customer experience front and center. Published:12/6/2019 3:17:24 PM
[3d1a4740-fbb3-53a1-b763-2c57431c1829] Ashley Graham opens up about body image and sex fears during pregnancy: 'I felt alone' Ashley Graham is opening up about body insecurities she’s experienced during her pregnancy. Published:12/6/2019 3:17:24 PM
[Markets] Wild, Rollercoaster Week Ends Where It Started After Blockbuster Jobs, Return Of "Deal Optimism" Wild, Rollercoaster Week Ends Where It Started After Blockbuster Jobs, Return Of "Deal Optimism"

It was a torrid week which started off ugly, with the S&P off to the worst start to a December since 2008 amid fears the trade deal with China would be pushed beyond the Nov 2020 election. However, "optimism" promptly returned after an "anonymous" Bloomberg article said that the trade deal remains on track, and subsequent comments by Trump and Larry Kudlow suggested that talks are progressing, restoring hope that the next round of tariffs, slated to begin on Dec 15, will be delayed.

And then there was today's payrolls report, which blew away expectations with a 266K print, 29K above the highest Wall Street forecast, on the back of a surge in manufacturing jobs, which jumped by 54K, the biggest monthly increase since 1998, as striking GM workers returned to work.

As a result, after tumbling on the first two days of the week, the S&P staged a remarkable recovery and closed the week virtually unchanged, while 10Y yield mirrored every move in risk almost tick for tick.

A big reason for the continued impressive rally was Apple stock, which hit a new all time high above $270 as Tim Cook continues to repurchase every share he can find. The stock is now up more than 71% YTD.

There was another reason for the return of the stock rally: this week the Fed's balance sheet rose once again, and as we have shown, in the past 9 weeks ever since the Fed resumed repos and eventually POMO, the stock market is up every single week when the Fed's balance sheet is higher; the only week the S&P was lower was when the Fed's balance sheet also shrank. Surely, it's just a coincidence...

As risk soared, safe havens pulled back, and after sliding as low as 1.70%, the 10Y yield was back in the mid 1.80% range.

Elsewhere, after surging from 12 to 18 at the start of the week, VIX was hammered as usual, and closed the week far below its Tuesday high of 18, if notably above where it started the week.

Those wondering if the brief volatility spike at the start of the week was enough to spark a short squeeze in the record VIX future net short, the answer is no, although for the second consecutive week, VIX net specs did shrink modestly.

The Dollar finally ended its 5-day losing streak, the longest since late October, with a bang, rising 0.15% on the day.

Brent jumped on Friday, after OPEC announced a surprise 500kb/d production cut, which however may be insufficient to prevent an increase in the oil glut. That said, Brent was almost unchanged from last Thursday following last Friday's plunge amid fears Saudi Arabia may overproduce to punish those OPEC nations that violated the production quotas.

While the higher price of oil will be welcome by Saudi Arabia which eagerly awaits the first day of trading of Aramco following the company's record IPO, it remains to be seen if Aramco's $1.7 trillion valuation will be sustainable with Saudi Arabia needing a Brent price over $80 to fund all its budget obligations.

So after this week's fireworks is it now safe to assume that stocks won't deliver any more major surprises for the balance of 2019? Keep an eye on the Dec 15 tariff deadline: because today's super strong job number merely assured that Trump now thinks he has even more leverage to demand concessions from China, while the Fed's fears that trade war is hurting the economy and thus has to be vigilant to the downside, were blown away.

Ironically, while retail investors who bought the S&P are doing great, hedge funds are underperforming the S&P for yet another year, and many of them are facing a barrage of redemption requests.

Finally, this was and remains a market where one Trump tweet can mean the difference between a successful and catastrophic year for countless traders, and something tells us the coming three weeks, which see both the culmination of trade discussions and Trump's impeachment, will be anything but quiet.

Tyler Durden Fri, 12/06/2019 - 16:08
Published:12/6/2019 3:17:24 PM
[Markets] Dow closes nearly 340-points higher after jobs report sparks stock-market rally U.S. stocks closed solidly higher Friday, helping to wipe out or chip away at weekly losses, after an key employment report for November ignited bullish buying on Wall Street, adding to some modest progress toward a partial Sino-American trade agreement. The Dow Jones Industrial Average gained 337 points, or 1.2%, to reach 28,015, the S&P 500 index advanced 0.9% to 3,146, while the Nasdaq Composite Index climbed 1% to 8,656. The moves on Friday were in contrast to trading that started the week after President Donald Trump in London implied that he would wait until 2020 to cement a phase-one trade agreement. For the week, the Dow and the Nasdaq finished down 0.1%, while the S&P 500 notched a 0.2% gain for the 5-day trading stretch. The economy created 266,000 new jobs, the most since January, and the unemployment rote fell to 3.5%, a 50 year low, Labor Department data showed, signaling that the jobs market remains robust even though economic growth has slowed. The government also revised the increase in new jobs in October to 156,000 from 128,000 and September's gain was raised to 193,000 from 180,000. The increase in new jobs easily topped the 180,000 MarketWatch forecast, helped by the end of the General Motors auto-workers strike which added roughly 50,000 jobs to the payrolls number. The unemployment rate slipped to 3.5% from 3.6% and matched a 50-year low. The average wage paid to American workers rose 7 cents, or 0.2%, to $28.29 an hour. The 12-month rate of hourly wage gains slipped to 3.1% from 3.2%. Helping to lift stocks even before the jobs report was news that China's State Council had begun the process on Friday of exempting some soybeans and pork imported from the U.S. from import tariffs, the state-run Xinhua News Agency said, a move taken as a sign of progress on at least a partial trade pact. The action comes about nine days from a Dec. 15 deadline at which import duties on $156 billion in China goods will be raised to 15%. In corporate news, Shares of Apple Inc. surged above its record closing price. The day's gains put the main benchmarks just short of their record closes. Published:12/6/2019 3:17:24 PM
[Harry Townsend's Last Stand] Poignant Performances Hoist ‘Harry Townsend’s Last Stand’ Above the Level of TV Sitcoms 'Harry Townsend's Last Stand' takes a serious subject and dusts it with humor. Published:12/6/2019 3:17:24 PM
[] Pelosi: I'll have no regrets if impeachment leads to Trump being reelected This is the opposite of the truth, needless to say.

It's almost as ludicrous as if Mitch McConnell had declared during the summer of 2016 that he'd have no regrets about holding Scalia's SCOTUS seat open if exit polls that fall showed that his decision had driven high Democratic turnout that]] Published:12/6/2019 2:48:13 PM

[worldNews] Washington blacklists Iran-backed Iraqi militia leaders over protests The United States on Friday blacklisted three Iran-backed Iraqi paramilitary leaders over their alleged role in killings of anti-government protesters in Iraq and threatened future sanctions if violence against demonstrators continued.
Published:12/6/2019 2:48:12 PM
[Entertainment] Will 90 Day Fiancé's Michael Get His Visa? Angela Isn't Pleased With His Interview Prep Angela, 90 Day Fiance: Before The 90 Days, **DO NOT USE UNTIL MONDAY JUNE 24 2019**Look who's back! Angela and Michael officially make their way from 90 Day Fiancé: Before the 90 Days to 90 Day Fiancé proper and E! News has your exclusive sneak peek at their season...
Published:12/6/2019 2:48:12 PM
[Entertainment] AP’s top songs of 2019: Jhene Aiko, Sam Smith, Normani Jhene Aiko’s “Triggered (freestyle)” has been named song of the year by The Associated Press’ Music Editor Mesfin Fekadu; others in the top 10 include Sam Smith, Normani, H Published:12/6/2019 2:48:12 PM
[Column] Raising VC in Silicon Valley as a female POC “Despite the fact that I went to MIT, despite the fact that I managed a billion-dollar product at JPMorgan Chase and even built a huge digital product, I was still a Silicon Valley outsider." Published:12/6/2019 2:48:12 PM
[Markets] Stock Market Renews Bullish Rise On Strong Jobs Data; Apple, Tesla Jump The stock market shot upward Friday, following an unexpectedly strong surge in November job growth and the decline in unemployment to record lows. Published:12/6/2019 2:48:12 PM
[Markets] Senate Chairmen Say Ukraine Meddling 'Not Debunked', Demand Docs From DNC Contractor Senate Chairmen Say Ukraine Meddling 'Not Debunked', Demand Docs From DNC Contractor

Despite widespread media reports that the Ukraine meddling narrative has been 'debunked', three Senate Republican committee chairmen say otherwise.

According to the Daily Caller's Chuck Ross, Sens. Chuck Grassley, Ron Johnson and Lindsey Graham announced on Friday that they are seeking records from former DNC operative Alexandra Chalupa and Andreii Telizkhenko - a former employee of the Ukrainian embassy who told Politico that Chalupa was "coordinating an investigation with the Hillary team on Paul Manafort," and that the embassy "worked very closely" with her.

"If we can get enough information on Paul [Manafort] or Trump’s involvement with Russia, she can get a hearing in Congress by September," Telizhenko recalled Chalupa saying in the January, 2017 report (which Politico has desperately been trying to walk back).

Chalupa was paid $412,000 by the DNC between 2004 and June 2016, according to the Caller.

Chalupa met throughout 2016 with Ukrainian embassy officials, and sought to trade information related to Manafort, who worked through 2014 for former Ukrainian President ViktorYanukovych, on Jan. 11, 2017, Politico reported. Telizhenko told Politico he was directed by his bosses to help Chalupa in the effort.

In addition to Chalupa’s efforts, multiple Ukrainian government officials spoke out against Trump during the 2016 campaign.

One official scrutinized by Republicans is Serhiy Leshchenko, a former Ukrainian parliamentarian who gained international attention in August 2016 for helping publicize the so-called “black ledger” that detailed payments that the Ukrainian Party of Regions allegedly made to Manafort. -Daily Caller

"Contrary to the popular narrative in the ‘main stream media’ that Ukrainian involvement in the 2016 election has been debunked, or ‘no evidence exists,’ there are many unanswered questions that have festered for years," said Johnson.

Grassley, meanwhile, says the Ukraine-DNC link has yet to be fully explored.

"While there was no collusion between the Trump campaign and Russia, we know that Russia meddled in our democratic processes. However, certain reports of collusion and interference involving Ukrainian officials have not been sufficiently examined, and the few answers that have been given are inadequate," said the Iowa Republican.

In a leaked email obtained by The Blaze, Chalupa tells the DNC's Louise Miranda: 

Hey, a lot coming down the pipe. I spoke to a delegation of 68 investigative journalists from Ukraine last night at the Library of Congress, the Open World Society forum. They put me on the program to speak specifically about Paul Manafort. I invited Michael Isikoff, who I've been working with for the past few weeks, and connected him to the Ukrainians. More offline tomorrow, since there was a big Trump component you and Lauren need to be aware of that will hit in the next few weeks. Something I'm working on that you should be aware of. -Alexandra Chalupa to Louise Miranda

Meanwhile, The Blaze also obtained a covertly recorded conversation in which Artem Sytnyk, Ukraine's Director of the National Anti-Corruption Bureau of Ukraine (NABU - which Joe Biden helped form) brags about helping Hillary Clinton in 2016.

Translation via The Blaze:

Kolya: Did they, those Russians, help Trump? Your people?

Sytnyk: I think they did. Yeah. I helped him, too. Not him, but Hillary. I helped her.

Kolya: Yeah. Right. Then her position tottered, right?

Sytnyk: Well, this is how they write about it, right.

Ivan: Hillary's humanitarian aid ... [indiscernible.]

Kolya: Well, I'm about ... the commentaries. At the time, we were not [indiscernible.]

Sytnyk: Trump ... his purely inner problem ... issue ... they dominate over the external matters. While Hillary, she is -- how shall I put it? She belongs to the cohort of politicians who comprise the hegemony in the US. Both in the US and the entire world, right? For us, it's ... sort of ... better. For Americans ... what Trump is doing is better for them.

Kolya: Well, we have lots of those American experts here now ... [indiscernible.]

Sytnyk: Well, there, you see why Hillary lost the elections? I was in charge of the investigation of their "black accounting" records. We made the Manafort's data available to general public.


Tyler Durden Fri, 12/06/2019 - 15:30
Published:12/6/2019 2:48:12 PM
[Volokh Conspiracy] [John Ross] Short Circuit: A Roundup of Recent Federal Court Decisions Homeless sweeps, flirty fun, and a DeLorean dustup. Published:12/6/2019 2:48:12 PM
[Politics] Sanders Aide Fired After Free Beacon Report

The Bernie Sanders campaign fired newly hired official Darius Khalil Gordon after the Washington Free Beacon uncovered numerous derogatory remarks he'd made towards gays, Jews, and women.

The post Sanders Aide Fired After Free Beacon Report appeared first on Washington Free Beacon.

Published:12/6/2019 2:48:12 PM
[Markets] Market Extra: Does the stock market even need a U.S.-China trade deal with the jobs report this hot? A hotter-than-expected jobs report for November has Wall Street waxing extremely bullish.
Published:12/6/2019 2:48:12 PM
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[] Adam Schiff: This Phone Record Proves that the OMB Called Rudy Giuliani. That Is All the Proof We Need That He Was Lobbying to Deny Ukraine Aid.OMB: That's... That's not our phone number, dudeAdam Schiff: ...Adam Schiff: But Russia Instead of deploying Oliver Darcy to pressure FaceBook and YouTube into deplatforming Adam Schiff as a constant source of fake news from foreign sources, they instead promote his every false claim. Who called Rudy Giuliani from the White House, and... Published:12/6/2019 2:48:12 PM
[] Saudi national responsible for Florida naval base shooting No one is saying this is terrorism at this point but authorities are certainly going to consider that a possibility in light of this information. The mass shooting took place this morning at the Naval Air Station in Pensacola, Florida this morning. Three people were killed and several more were]] Published:12/6/2019 2:11:59 PM
[Politics] House Whip James Clyburn: Some Dems Might Not Vote to Impeach Trump Some House Democrats might not vote to impeach President Donald Trump, House Majority Whip James Clyburn, D-S.C., said Friday. Published:12/6/2019 2:11:59 PM
[Politics] Warren Pressed on Spending: ‘There’s Always Money’

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The post Warren Pressed on Spending: ‘There’s Always Money’ appeared first on Washington Free Beacon.

Published:12/6/2019 2:11:59 PM
[worldNews] Iran may have been behind attack on Iraq's Balad base: U.S. State Dept official Iran may have been behind Thursday's attack on Iraq's Balad air base, a senior U.S. State Department official said on Friday, but added that Washington was awaiting further evidence.
Published:12/6/2019 2:11:59 PM
[Apps] Daily Crunch: Uber reveals sexual assault numbers The Daily Crunch is TechCrunch’s roundup of our biggest and most important stories. If you’d like to get this delivered to your inbox every day at around 9am Pacific, you can subscribe here. 1. Uber reveals thousands of sexual assault reports last year Uber just released its first-ever safety report, stating that it received 2,936 […] Published:12/6/2019 2:11:59 PM
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[topics:organisations/police] London Bridge terrorist Usman Khan is buried in family village in Pakistan after UK backlash Published:12/6/2019 2:11:59 PM
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[Uncategorized] Florida Naval Air Station Shooter a Saudi Aviation Student Officials investigating if it is terrorism-related. Published:12/6/2019 2:11:59 PM
[Markets] GLOBAL MARKETS-Stocks rally, dollar gains on robust U.S. jobs data The dollar rose and global equity markets soared on Friday after data showed U.S. job growth increased by the most in 10 months in November, putting to rest recession fears and briefly taking the spotlight off contentious U.S.-China trade talks. U.S. Treasury and German bund yields jumped, while gold slipped as much as 1%, reflecting increased investor appetite for risk as U.S. unemployment dipped to 3.5%, the lowest in nearly half a century. The stronger-than-expected Labor Department data showed steady wage gains remained near their strongest in a decade, suggesting consumers will continue to drive the longest economic expansion in U.S. history, now in its 11th year. Published:12/6/2019 2:11:59 PM
[Middle Column] The UN Is Holding Its 25th Climate Conference — Please Don’t Let There Be A 26th
Published:12/6/2019 2:11:59 PM
[Markets] Alzheimer’s expert says more clinical trials are needed for controversial Biogen drug An Alzheimer’s disease expert said Biogen “absolutely” needs to conduct a third clinical trial for aducanumab, its now controversial and recently resurrected Alzheimer’s disease drug candidate.
Published:12/6/2019 2:11:58 PM
[Markets] US-Israel Defense Treaty Gaining Steam After Pompeo & Netanyahu Meet US-Israel Defense Treaty Gaining Steam After Pompeo & Netanyahu Meet

A proposed US-Israeli defense treaty is gaining steam after a meeting between Israeli Prime Minister Benjamin Netanyahu (currently representing an 'interim' government) and US Secretary of State Mike Pompeo in Lisbon this week.

Speaking of the controversial defense pact, Netanyahu told reporters of the Wednesday discussion: “The meeting with Pompeo was critical for Israeli security,” and added, “We agreed to promote a defense pact.”

However, such a controversial pact wold have a long way to go in the domestic politics of both nations, considering it would commit the United States to war to defend Israel. This also at a time when Israel has frequently attacked what it deems 'Iranian targets' inside Syria and Iraq in what both countries have condemned as acts of brazen aggression.

Getty Images

Senator Lindsey Graham has been its biggest and most outspoken Congressional supporter, telling a pro-Israel conference last month, “My hope is that we can draft a mutual defense agreement that is consistent with Israel’s ability to defend herself, consistent with the United States’ strategic interest – which is to make sure that our No. 1 ally in the region doesn’t go by the wayside.”

But the proposal is currently having a more direct impact on Israeli politics, given that opposition rival to Netanyahu, Blue and White chairman Benny Gantz, has vehemently opposed it amid stalled power-sharing negotiations which could send Israelis to the polls for a third time within a year. The opposition says such a defense pact is an invitation for Washington to meddle in Israeli affairs. 

Netanyahu has sought to deflect these criticisms, saying, “We will do it with full cooperation with the IDF and security forces and ensure total freedom of action for the US and the IDF.” He has also vowed to "increase the pressure on the Iranians". Axios reports of the outcome to Wednesday's meeting further:

Netanyahu said he and Pompeo agreed to promote the issue moving forward. He said he will have to check if it is possible to legally sign a defense treaty with an interim government in place. Netanyahu said he will ensure the defense treaty will not limit the Israel Defense Forces' freedom of operation.

Given the Trump Administration has made its preference for Netanyahu clear from the start, it appears the embattled 'interim' prime minister is touting the defense pact as key reason why he needs to remain in power. 

Few details have been revealed in terms of what the defense pact would contain, but it's clear that the potential for committing the US to more 'endless wars' in the Middle East would significantly increase. 

Tyler Durden Fri, 12/06/2019 - 15:10
Published:12/6/2019 2:11:58 PM
[] Saudi national responsible for Florida naval base shooting No one is saying this is terrorism at this point but authorities are certainly going to consider that a possibility in light of this information. The mass shooting took place this morning at the Naval Air Station in Pensacola, Florida this morning. Three people were killed and several more were]] Published:12/6/2019 1:45:39 PM
[Politics] Giuliani Calls for Joint US, Ukraine Investigation President Donald Trump’s personal attorney Rudy Giuliani on Friday suggested that the United States and Ukraine launch “a large scale joint investigation” into corruption in their countries. Published:12/6/2019 1:45:39 PM
[Markets] Gold prices lose over 1% as better-than-expected U.S. jobs report lifts stocks and the dollar Gold futures settle sharply lower on Friday after a U.S. report on November employment came in better-than-expected, with gains last month of 266,000 new jobs, marking the biggest monthly gains since January and reaffirming the health of the domestic economy. Published:12/6/2019 1:45:39 PM
[Politics] Trump looks to Senate as House prepares impeachment

Trump appears ready to blow off House impeachment proceedings, instead planning a counter-offensive in the Republican-led Senate.

Published:12/6/2019 1:45:39 PM
[Entertainment] Inside Hannah Brown's Big Year and What Could Be Next Dancing With the Stars, Hannah BrownThere is probably no one on TV who had a bigger 2019 than Hannah Brown. We hadn't even heard of her at the beginning of the year, though she had a healthy 10,000 Instagram followers...
Published:12/6/2019 1:45:39 PM
[8feb6639-a9b2-5e0b-aa6d-4fc73feb38d9] Kimberley Strassel: Obtaining phone logs of political rivals is a stunning abuse of congressional power In his rush to paint Donald Trump as a lawbreaker, Mr. Schiff has himself trampled law and responsibility. Published:12/6/2019 1:45:39 PM
[Entertainment] The AP names ‘Surviving R. Kelly’ top TV show of 2019 “Surviving R Published:12/6/2019 1:45:38 PM
[National Security] Saudi National Suspected in Shooting at U.S. Navy Base That Left Four Dead

(Reuters) - A Saudi national visiting the United States for military training was the suspect in a shooting attack at a U.S. Navy base in Florida in which four people were killed on Friday, three U.S. defense officials said, speaking on condition of anonymity.

The post Saudi National Suspected in Shooting at U.S. Navy Base That Left Four Dead appeared first on Washington Free Beacon.

Published:12/6/2019 1:45:38 PM
[72e16469-56a9-5df3-b4e2-3e5ab2f1353d] Jillian Michaels says political correctness is 'glamorizing' obesity Jillian Michaels says the body positivity movement and political correctness are posing a potential health crisis in America.  Published:12/6/2019 1:45:38 PM
[Politics] BREAKING: Trump says he just got a call from King Salman of Saudi Arabia over the terrorist attack today… Trump said he just got a phone call from Saudi Arabia’s King Salman over the terrorist attack at the Naval air base in Pensacola: King Salman of Saudi Arabia just called to . . . Published:12/6/2019 1:45:38 PM
[Politics] BREAKING: Trump says he just got a call from King Salman of Saudi Arabia over the terrorist attack today… Trump said he just got a phone call from Saudi Arabia’s King Salman over the terrorist attack at the Naval air base in Pensacola: King Salman of Saudi Arabia just called to . . . Published:12/6/2019 1:45:38 PM
[Markets] Coin Toss: Morgan Stanley Raises Tesla Bull Case To $500, Keeps Bear Case At $10 Coin Toss: Morgan Stanley Raises Tesla Bull Case To $500, Keeps Bear Case At $10

Ah, is it any wonder gullible clients pay tens of thousands of dollars per year for access to exclusive sell side research?

What would savvy Tesla investors be doing from the sidelines without access to Adam Jonas' prescience over the last few years on Tesla? His constant excuse making for the company, coupled with ever-declining EPS targets and vague predictions about where the stock is going are the perfect fodder for the critical thinkers that are long the stock. 

Case in point: yesterday's note on the company, which can be summed up with this exceptionally vague chart pointing out that in the future, Morgan Stanley predicts that Tesla stock can go - well, anywhere - over the next 12 months. 

Jonas cites the new Cybertruck, which may or may not ever wind up actually existing and being produced, as the key part of his reasoning for raising his bull case on the company's stock. Jonas predicts the company could be able to sell 100,000 Cybertrucks by YE2024 (yes, four years from now) at an ASP of $50,000, despite Musk pitching the truck as starting at $39,900:

We assume that, in an optimistic scenario, by YE2024 Tesla is able to sell 100,000 Cybertrucks at an average selling price of $50,000, and EBITDA margins of 20%. At 6.0x EV/EBITDA and a 12% discount rate, this implies a per share value of $20 to TSLA. According to Elon Musk's Twitter, Tesla currently has 250k pre- orders for the Cybertruck, so this math implies that roughly 40% of those 250k pre-orders translates to an actual sale by 2024; in our opinion, we believe this is a fairly optimistic assumption, given that a pre-order only requires a $100 refundable deposit.

If we use the Hummer H3 as a proxy, according to IHS sales for that vehicle peaked at about 60k units globally, albeit mostly in North America, so for now we believe 100k units is an appropriate bull case assumption. We note we do not include theCybertruck in our base case given the high degree of risk associated with the product's success, such as the truck's rather polarizing design (although the Cybertruck's design has grown on many investors we have spoken to). We are comfortable with this until we receive more clarity from the company on the roadmap for the product.

The note also tacks on another $40 to the bull case due to China - despite the fact that we pointed out yesterday that Beijing doesn't really seem interested in subsidizing electric vehicles any longer. The bump in target also comes despite Jonas' admission that the market may eventually look at Tesla as a traditional auto OEM, which is exactly what the company is:

We believe that our long-term base case China forecasts are rather conservative with Tesla sales in the region peaking at approximately 250k units by 2024/2025. For our bull case, we assume a significantly more optimistic scenario, vs our base case, of 200k units in incremental volume in 2025 (~450k total units), revenue per unit of $40,000, and EBITDA margins of 23% (based on our analysis of potential China profitability). At 7.0x EV/EBITDA (a 1.0x premium to the Cybertruck, given the likely better margin profile) and a 12% discount rate, this implies incremental per share value of $40 to Tesla. To be clear, we are not bullish on Tesla longer term, especially as, over time, we believe Tesla could be perceived by the market more and more like a traditional auto OEM; we are prepared for a potential surge in sentiment through 1H20 but question the sustainability.

And what would a Morgan Stanley note be without mention of the non-existent Tesla Mobility and the non-existent Tesla Semi:

Tesla is distinctively positioned to commercialize an app-based, on-demand mobility service but faces increasing competition from well-capitalized tech companies. Optionality to new model introductions (Model Y, pickup truck) could significantly expand volumes and profitability. Launch of local China Model 3 production creates tailwind to volume and gross margins through much of 2020. Tesla 'semi' is real but we think difficult to move the needle.

Then it's on to "cover your ass" mode, as Jonas calls Tesla "fundamentally overvalued, but strategically undervalued" in this flash of brilliance:

We believe 2020 offers a strong event path for the stock; there are a number of catalysts over the next year, whether it be China milestones, Model Y, or new technology announcements that would allow Tesla to potentially test the upper bound of our admittedly wide bull-bear skew. We still see Tesla as fundamentally overvalued, but strategically undervalued. We are cautious on Tesla's prospects in China, given geopolitical/CFIUS concerns, we believe that the Model Y will likely cannibalize a significant amount of demand for the Model 3, and see Berlin Giga as a first step for Tesla to ultimately be seen by investors as an auto company rather than a high growth tech firm, with valuation reflecting that at some point.

Here a summary of the broad range of outcomes for Tesla share price that Jonas predicts. 

Tyler Durden Fri, 12/06/2019 - 14:30
Published:12/6/2019 1:45:38 PM
[fccdcbc4-e44b-53c7-bcbb-5403d33ec3b3] Justin Timberlake and Jessica Biel's relationship timeline, from secret romance to power couple For over a decade, Justin Timberlake and Jessica Biel have been a Hollywood power couple. Published:12/6/2019 1:45:38 PM
[Right Column] UN Climate Summit in Madrid: Hysteria meets diplomacy in Madrid – ‘Climate alarmism movement is tearing itself into two camps’
Published:12/6/2019 1:45:38 PM
[topics:people/donald-trump] Number of pregnant women detained for migration offences rises 52 per cent under Trump Published:12/6/2019 1:45:38 PM
[] Gunman Who Went on Shooting Spree in Pensacola, Florida Was.... Saudi Pilot Student; Authorities Eye Terror Link Of course they'll make sure they never find that problematic link. Because that would be racist. The gunman who opened fire Friday morning at Naval Air Station Pensacola in Florida, fatally shooting three people, has been identified as an aviation... Published:12/6/2019 1:45:38 PM
[Politics] Newt: Pelosi Told 'Total Dishonest Lie' on Clinton Impeachment House Speaker Nancy Pelosi, told a "total dishonest lie" when she said former President Bill Clinton was impeached for "being stupid," ex-House Speaker Newt Gingrich, who was in office when Clinton was impeached, said Friday.  Published:12/6/2019 1:14:54 PM
[worldNews] Iraqi cleric warns against meddling as protest death toll rises Iraq's top Shi'ite Muslim cleric said that a new prime minister must be chosen without foreign interference in an apparent nod to Iranian influence as gunmen killed at least eight people near a Baghdad protest site on Friday.
Published:12/6/2019 1:14:53 PM
[Entertainment] Inside Kylie Jenner and Stormi Webster's Mommy-Daughter Getaway Kylie JennerMommy and me time in the mountains! Kylie Jenner and daughter Stormi Webster are having the time of their lives up in the snowy mountains. The pair are enjoying a fun getaway alongside...
Published:12/6/2019 1:14:53 PM
[Entertainment] Harvey Weinstein prosecutors push for $5 million bail at court hearing The former Hollywood producer appeared in Manhattan court Friday for a bail hearing scheduled in connection with New York’s new criminal justice statutes. Published:12/6/2019 1:14:53 PM
[TC] Gift Guide: VR gear you won’t feel stupid for buying There have been holiday gift guides for VR for the past five years or so and for most of that time, buying a VR headset was generally a bad call. Published:12/6/2019 1:14:53 PM
[topics:places/usa] Banana duct-taped to a wall sells for $120,000 at Art Basel  Published:12/6/2019 1:14:53 PM
[Politics] Watch the CNN supercut of Wednesday’s phony impeachment hearing that they blocked on YouTube and don’t want you to see… CNN has blocked on YouTube a supercut that was created by Grabien from their coverage of Wednesday’s phony impeachment hearing. Here’s what CNN doesn’t want you to see: SUPERCUT: Every day on . . . Published:12/6/2019 1:14:53 PM
[Politics] Watch the CNN supercut of Wednesday’s phony impeachment hearing that they blocked on YouTube and don’t want you to see… CNN has blocked on YouTube a supercut that was created by Grabien from their coverage of Wednesday’s phony impeachment hearing. Here’s what CNN doesn’t want you to see: SUPERCUT: Every day on . . . Published:12/6/2019 1:14:53 PM
[Markets] Capitol Report: Climate change protesters disrupt D.C. rush-hour traffic Demonstrations calling for the World Bank to stop supporting fossil fuel projects resulted in the closure of several streets in the heart of downtown Washington on Friday.
Published:12/6/2019 1:14:53 PM
[Markets] Greta Thunberg Enraged After Climate Strikes "Achieved Nothing", Has Yet To Visit China Greta Thunberg Enraged After Climate Strikes "Achieved Nothing", Has Yet To Visit China

Swedish activist Greta Thunberg is angrier than ever. The 16-year-old climate crusader, whose childhood was stolen by everyone except China, says that the wave of climate change school strikes over the past year has "achieved nothing" since greenhouse gas emissions continue to rise.

Speaking from the Madrid climate conference, after arriving via train from Lisbon, Thunberg said she hoped the negotiations would result in "something concrete."

Thousands of young people were expected to gather at the UN climate conference and in the streets of the Spanish capital on Friday to protest against the lack of progress in tackling the climate emergency, as officials from more than 190 countries wrangled over the niceties of wording in documents related to the Paris accord.

In the four years since the landmark agreement was signed, greenhouse gas emissions have risen by 4% and the talks this year are not expected to produce new commitments on carbon from the world’s biggest emitters. -The Guardian

"People want everything to continue like now and they are afraid of change," she told reporters, without mentioning the world's #1 polluter by volume, China. "And change is what we young people are bringing and that is why they want to silence us and that is just a proof that we are having an impact that our voices are being heard that they try so desperately to silence us."

Thunberg's movement began in Sweden in 2017, and has morphed into an organized campaign across the world.

"I’m just an activist and we need more activists," said Thunberg, adding "I sincerely hope COP25 will reach something concrete and increase awareness among people, and that world leaders and people in power grasp the urgency of the climate crisis, because right now it does not seem that they are."

In September, Thunberg drew criticism from French President Emmanuel Macron after she filed a legal complaint accusing five countries of inaction on global warming in violation of the 30-year-old UN Convention on the Rights of a Child. Germany, France, Brazil, Argentina and Turkey were named in the lawsuit.

In response, Macron told Eruope1 that her stance was "very radical" and likely to "antagonize societies." 

In October, Thunberg received criticism from Russian President Vladimir Putin, who said "Go and explain to developing countries why they should continue living in poverty and not be like Sweden."


Tyler Durden Fri, 12/06/2019 - 14:10
Published:12/6/2019 1:14:53 PM
[Politics] Rep. Ben Cline: Dems Focused More on Impeachment Than Real Issues Rep. Ben Cline, R-Va., a member of the House Judiciary Committee, slammed Democrats and said they are putting their "disdain" for President Donald Trump ahead of the laws of the land. Published:12/6/2019 1:01:58 PM
[Politics] Bloomberg gets defensive when asked if he’s trying to ‘buy the election’ “I’m not trying to take his job. He doesn’t have the job of president of the United States and neither do I. At the moment, the person that has it is Donald Trump. I’m trying to take away the job from Donald Trump,” Bloomberg said on CBS This Morning. Published:12/6/2019 1:01:58 PM
[worldNews] Thunberg says 'our voices' being heard but not translating into action Teenage climate activist Greta Thunberg said on Friday the voices of climate strikers are being heard but politicians are still not taking action.
Published:12/6/2019 1:01:58 PM
[Augmented Reality] Report: Magic Leap’s early device sales aren’t looking good Magic Leap just announced that they’re in the midst of closing a series E round of funding, but it sounds like they’re going to have to clinch that investment with some pretty troubling sales numbers for their only device on the market. The Information‘s Alex Heath is reporting that Magic Leap managed to sell just […] Published:12/6/2019 1:01:58 PM
[Markets] "The Fed Hasn't Expanded Its Balance Sheet At This Speed Since The Financial Crisis" "The Fed Hasn't Expanded Its Balance Sheet At This Speed Since The Financial Crisis"

* * *

Submitted by Howard Wang of Convoy Investments

Has QE4 begun? The $1.2 trillion per month hole in the repo market.

In the two months since the repo market blow up, the Fed has been making repo open market operation purchases at a rate of $1.2 trillion per month.

Below is the monthly rate of Fed open market purchases since 2000. In the era of QE and ample reserves, the Fed has not touched open market operations for more than 10 years before 2019. Prior to that, the highest rate of open market operations we saw in history was roughly $300 billion/month briefly after the September 11 attacks, with long-term averages of around $50 billion/month. To say the current rate of $1.2 trillion/month is unprecedented would be an understatement

The planned QE unwinding has hit a brick wall and the Fed balance sheet is now expanding at a rate matched only briefly by QE1, and faster than QE2 or QE3.

Is this a temporary rescue of the repo market or the start of a sustained QE4? To answer that question, we must look at how monetary policy has evolved since the Financial Crisis.

1. Pre-2008, scarce reserves regime:

  • Total reserves: small (<$50 billion)
  • Excess reserves: none
  • Interest on excess reserves: 0%
  • Managing interest rates: to increase rates, Fed sells securities on the open market and reduces supply of reserves, vice versa to decrease rates.
  • Banks: regulations are lax and risk tolerance is high
  • Treasury department: carefully manages its cash flows to not impact the total reserve levels.

2. 2008-2019, ample reserves regime:

  • Total reserves: large ($trillions)
  • Excess reserves: large ($trillions)
  • Interest on excess reserves: positive at around Fed funds rate
  • Managing interest rates: Because there is more reserves than the banks could possibly need, Fed sets interest rates by paying a floor rate on reserves.
  • Banks: regulations are strict and risk tolerance is low
  • Treasury department: no longer actively manages its cash flows, its activities directly affect total reserve levels.

3. 2019 onwards, scarce reserves regime again?:

  • A combination of QE unwinding, strict banking regulations, and a concentration of reserves in a handful of banks have once again made reserves scarce, which means a rate floor is no longer effective at managing against rate rises. This was painfully obvious in December of 2018 and September of 2019. Thus far, the Fed has chosen their pre-2008 strategy of temporary open market operations to manage rates in this new scarce reserves environment. But because the total pool of reserves is around 50 times larger now than pre-2008, the size of the required open market operations is in the $trillions, not $billions, per month.

Going forward, the Fed must make a choice of staying in a regime of scarce reserves or going back to ample reserves. The Fed can lower interest on excess reserves and reduce bank incentives to hold excess reserves to some degree, but the new post-2008 regulations will still necessitate a far larger base of reserves than pre-2008. So managing a scarce reserves banking system on a large base of reserves will require continued massive open market operations. It will likely also require a change from the Treasury department’s cash flow management.

Alternatively, the Fed can recognize that they’ve found the floor for the total amount of reserves necessary in our new regulatory environment and add some reserves via another round of QE as cushion and grow the total reserves in line with our GDP. This would allow us to stay in the ample reserves regime.

The key metric I’d keep an eye on is the difference between interest on excess reserves and the effective Fed Funds rate, which I show below. We made the switch from an ample reserves regime to a scarce reserves regime in December of 2018.

If the system has more than enough reserves, the effective Fed Funds rate would be below the interest on excess reserves because not every participant is eligible for interest on excess reserves, hence they’d push the average Fed Funds rate below interest on excess reserves. In the 2019 environment of scarce reserves, market participants are starved for reserves and bid the average Fed Funds rate at or above interest on excess reserves. At the moment, the Fed has done enough open market operations to meet reserve demand and drive Fed Funds rate exactly back to interest on excess reserves.

Going forward, whether the Fed pushes effective Fed Funds rate below interest on excess reserves will signal the next era of monetary policy. If the Fed chooses the scarce reserves route, Fed funds rate will stay at or above interest on excess reserves. The Fed will continue to buy short-term securities as necessary to meet demand for reserves and push down the short end of the curve and I’d bet on the yield curve steepening again. If they choose the ample reserves route, Fed Funds rate will fall back below interest on excess reserves, the Fed will go back to buying 10 year bonds, and I’d expect to see further flattening of the yield curve.

Unless banking regulations change dramatically, my guess is that QE4 is coming. The Fed would rather have a cushion of ample reserves against unexpected repo market blow ups than react retroactively with $trillions/month of open market operation purchases.

Tyler Durden Fri, 12/06/2019 - 13:50
Published:12/6/2019 1:01:58 PM
[Markets] Big Lots stock bounces toward biggest gain in 3 decades after signs business has bottomed Big Logs Inc. investors were enjoying the best day in over 30 years Friday, after the discount retailer’s third-quarter report and an upbeat outlook suggested results may have bottomed out.
Published:12/6/2019 1:01:58 PM
[] Adam Schiff and AOC take on food stamp rule, get it wrong Did someone send out a list of talking points for Democrats to use when attacking the Trump administration's new food stamps rule without first reading the rule? I'm not sure how else to explain what happened yesterday. Within the span of two hours Thursday both Adam Schiff and Alexandria Ocasio-Cortez]] Published:12/6/2019 12:41:06 PM
[] REPORT: Member of Saudi military training at US Naval Air Station in Pensacola suspected shooter A member of the Saudi military training at US Naval Air Station in Pensacola is the suspected shooter.

From CNN:

The suspected shooter, who was also killed, was a member of the Saudi Arabian military training at the station, according to five US defense officials and another person familiar with the investigation.

Investigators]] Published:12/6/2019 12:41:06 PM

[Entertainment] Luxembourg Royals Prince Guillaume and Princess Stephanie Expecting First Child Prince Guillaume, Princess Stephanie Congratulations are in order! Prince Guillaume and Princess Stephanie of Luxembourg are expecting their first child. The happy news was announced by Luxembourg's Marshall of the Court...
Published:12/6/2019 12:41:05 PM
[Economy] Impeachment In a Time of Prosperity (John Hinderaker) The Democrats insist that President Trump is a threat to the republic, although no one can explain why. Meanwhile, their mantra has gone from “It’s the economy, stupid” to “Economy? What’s that?” The Labor Department issued its November jobs report this morning, and it is spectacular. CNBC reports: The jobs market turned in a stellar performance in November, with nonfarm payrolls surging by 266,000 and the unemployment rate falling to Published:12/6/2019 12:41:05 PM
[2019 News] Hillary Clinton tweets No one is above the law

Hillary Clinton tweets “No one is above the law” and Twitter explodes with laughter. Can the woman really be this obtuse?

The post Hillary Clinton tweets No one is above the law appeared first on IHTM.

Published:12/6/2019 12:41:05 PM
[Politics] BREAKING: Pensacola Naval base shooter that shot 11 and left 3 dead was from Saudi Arabia It’s just been revealed that the shooter at the Pensacola Naval base was a Saudi national there for flight training: Breaking from @JoshMargolin – suspect in Pensacola naval base shooting was a . . . Published:12/6/2019 12:41:05 PM
[Politics] BREAKING: Pensacola Naval base shooter that shot 11 and left 3 dead was from Saudi Arabia It’s just been revealed that the shooter at the Pensacola Naval base was a Saudi national there for flight training: Breaking from @JoshMargolin – suspect in Pensacola naval base shooting was a . . . Published:12/6/2019 12:41:05 PM
[Caliper] CBD Industry: FDA’s Vague Warning Confuses Consumers Even More A distinction between CBD as a drug and food supplement is needed, says one CEO. Published:12/6/2019 12:41:05 PM
[3f2d21be-b814-5fe6-89b1-8da3a85ecefd] Tammy Bruce: Biden whacks Iowa voter – Here's what it proves about Democrats and 2020 Joe Biden, with everything we’ve seen, is not leading the Democratic pack because he is seen as the new leader of the free world with brilliant ideas that will help to enlighten and renew our future. Instead, the former vice president is leading because everyone else in that lineup is so awful. Published:12/6/2019 12:41:05 PM
[Markets] What The "Expert" Panel Should Have Told You About Impeachment... But Didn't What The "Expert" Panel Should Have Told You About Impeachment... But Didn't

Authored by Rob Natelson via The Epoch Times,

This short essay does what the House Judiciary Committee’s panel of “expert witnesses” did not successfully do.

First, it explains the meaning of the Constitution’s “high Crimes and Misdemeanors” standard. Next, it discusses how that standard applies to President Donald Trump’s interactions with Ukrainian President Volodymyr Zelensky. Finally, it details the kind of evidence the House Judiciary Committee should gather to determine whether the president committed an impeachable offense.

Many phrases in the Constitution—such as “necessary and proper,” “Privileges and Immunities,” and “Convention for proposing Amendments”—carry specialized 18th century meanings not obvious to the modern reader. Recall that most of the leading Founders were lawyers and the Constitution is a legal document. Some of these phrases derive from 18th century law.

Therefore, to understand them you have to consult 18th century legal materials in addition to better-known sources such as the 1787 convention debates or the Federalist Papers.

Unfortunately, most of the scholars called by the House Judiciary Committee to address the meaning of “high Crimes and Misdemeanors” were not able to do so accurately.

According to the authoritative Westlaw database, two of the three Democratically appointed witnesses have published no scholarly work on impeachment: Their specialties are in other areas. None showed any familiarity with 18th century fiduciary standards—which (as explained below) are part of the law of impeachment. All of the witnesses voted against President Trump, and several have been involved in anti-Trump activity.

It’s not surprising, therefore, that, except for professor Jonathan Turley’s heavily footnoted 53-page written statement, the testimony was biased and superficial.

What Is the Standard?

Impeachment law is not for amateurs. It rests on English parliamentary history extending at least as far back as the 1300s. Furthermore, impeachment standards evolved over time. To understand the Constitution’s rules we must know what the standards were when the Constitution was adopted. We can do so by consulting 18th century parliamentary records and legal materials.

Here’s some of what they tell us:

  • The term “high Crimes” means, approximately, “felonies.”

  • The phrase “high … Misdemeanors” refers to what the founding generation called “breach of trust” and what modern lawyers call breach of fiduciary duty. Fiduciary duties are the legal obligations imposed upon those who manage the affairs of other people—bankers, corporate executives, accountants, guardians, and so forth. In broad outline, fiduciary law when the Constitution was adopted was similar to what it is today.

  • In the 14th and 15th centuries, an official could be impeached because Parliament disagreed with his policy decisions. However, as several American Founders recognized, by the 18th century this was no longer true. The official must have violated (in the words of several sources) “the known and established law.” This limited impeachment to serious crimes and fiduciary breaches.

  • The trial in the upper house of the legislature was a judicial proceeding, not primarily a political one. As the 1782 edition of the popular Jacob’s Law Dictionary noted, “the same evidence is required in an impeachment in Parliament, as in the ordinary courts of justice.” The hearsay and impressionist evidence gathered by the House Intelligence Committee is not admissible.

The core of the case against President Trump is that he used his political position to seek re-election assistance from a foreign government. Although there’s dark talk of crimes committed, the principal charge is fiduciary rather than criminal. In other words, a “high … Misdemeanor.”

House Democrats have struggled to define Trump’s alleged offense. Initially, they described it as “quid pro quo.” Then they employed the term “bribery.” The legally correct designation is “self-dealing.”

Self-dealing is betraying your employer’s interests to enrich yourself. It’s a violation of the fiduciary duty of loyalty.

We can assume the president might benefit from a Ukrainian investigation, but that doesn’t mean asking for an investigation was self-dealing as defined by fiduciary, and therefore by impeachment, law. There’s nothing unusual or improper about a president asking a recipient of U.S. foreign aid to address corruption. As for seeking political advantage: If we punished every politician who did that, they would all be swinging from the yardarm.

This is as true in foreign as in domestic affairs. When President Barack Obama told the Russian president he would have more flexibility after his re-election, he was saying (1) an agreement now would benefit both Russia and the United States, but (2) I’m going to sacrifice our mutual interests for the present because such an agreement might hurt my re-election campaign. Was this impeachable self-dealing? Almost certainly not.

So where is the divide between “normal” conduct and impeachable conduct? To answer this, we need to weigh at least three factors: impeachment precedent, the national interest, and the practice of other presidents.

Impeachable Conduct

For defining the Constitution’s phase “high … Misdemeanors,” the most important precedents (although not the only ones) lie in 18th century impeachment and fiduciary law.

An 18th century impeachment treatise outlines the specific facts by which several officials were impeached for what we now call self-dealing.

They include the following:

(1) the official enriched himself at the expense of the Crown by arranging for royal pardons,

(2) he stole funds from the Royal Navy,

(3) he confiscated ships and cargos without due process and appropriated the proceeds,

(4) he obtained “exorbitant grants of lands and money, to the great detriment of the revenue,”

(5) he seized forfeited land that should have gone to the Crown, and

(6) acting through a strawman, he took the proceeds from timber sales in the king’s forests.

All these cases boil down to stealing public property. They don’t look like the Trump–Zelensky dealings at all.

Another part of the answer lies in whether President Trump violated the national interest. As a general rule, self-dealing generally is not just enriching yourself. It’s enriching yourself at the expense of your employer. If Trump’s interests were aligned with those of the country, there was no fiduciary breach.

Despite Col. Alexander Vindman’s complaint that Trump violated “the consensus of the interagency,” the question of whether Trump acted contrary to the national interest is a difficult one to answer.

Perhaps we had a national interest in not asking President Zelensky to investigate. But we also had a national interest in asking, because it would be useful to know if Ukrainian officials were trying to meddle in our presidential elections. And it would be useful to know whether the family of a leading presidential candidate is engaged in corruption. Remember: the president asked only for an investigation, not for a pre-determined result.

Thus, you can argue the “national interest” issue both ways. It looks more a policy question than a clear case like theft of public funds.

Still another part of the answer lies in how similar officials act in similar circumstances. In absence of a crime, if you want to determine whether a banker handled funds properly, you should investigate how bankers usually handle funds. If you wish to determine whether an investment adviser gave reasonable advice, you should consult what other reputable advisers recommend in the same circumstances.

Similarly, to decide whether President Trump engaged in impermissible self-dealing, we need testimony about how other officials conduct themselves. We know, for example, that then-Vice President Biden explicitly made aid to Ukraine conditional on firing a Ukrainian prosecutor. If that conduct wasn’t impeachable (and I don’t believe it was) then Trump’s more tepid conduct certainly isn’t impeachable.

Thus, the Judiciary Committee should ask for testimony from officials of prior presidential administrations, and preferably from the former presidents themselves. Did they ever make foreign aid conditional? What were the conditions? Why? And so forth.

Another Panel

It was a good idea to empanel academic experts to provide guidance on the meaning of “high Crimes and Misdemeanors.” It should be done again, and this time correctly.

The next panel should include presidential historians, parliamentary historians, and experts on fiduciary law. It should not consist primarily of law professors, who are notorious for engaging more in advocacy than in true scholarship.

Every panelist should have published research on impeachment, fiduciary law, or related areas. No panelist should be enmeshed in pro-Trump or anti-Trump political activity. They should be limited to discussing constitutional impeachment standards without expostulating on evidentiary testimony. Weighing the evidence is the job of the committee members, not of academics with little judicial or “real life” experience.

Once the scholarly panel has testified, the committee should explore whether the president’s Ukrainian actions clearly violated the national interest and it should gather testimony on the conduct of former administrations in comparable situations.

And only if all those investigations support a “self-dealing” conclusion should the committee recommend articles of impeachment.

Tyler Durden Fri, 12/06/2019 - 13:30
Published:12/6/2019 12:41:05 PM
[Markets] Dow Jones Powers Higher On Bullish Jobs Data; Check Out This IPO Breakout The Dow Jones gapped up for the second time in three sessions Friday, helped by stronger than expected job growth in November. Published:12/6/2019 12:41:05 PM
[worldNews] At least eight killed in a suspected militant attack in Kenya At least eight people were killed on Friday when suspected Islamist militants attacked a bus in Kenya near the border with Somalia, the private Citizen TV reported.
Published:12/6/2019 12:41:05 PM
[a0fc8b8b-1e3b-5d4f-b6dc-c6493b30ab9f] Hailey Baldwin slams 'false drama' after Selena Gomez feud rumors: 'That has to stop' Hailey Baldwin is being frank about the “false drama” surrounding her and Selena Gomez over the singer's past relationship with her husband, Justin Bieber. Published:12/6/2019 12:41:05 PM
[Markets] Key Words: The Peloton husband on that hated ad: ‘That’s not who I am’ The actor and elementary school teacher worries the “nasty” backlash will ruin his career
Published:12/6/2019 12:41:05 PM
[] Amidst "Historic" Impeachment Operation, CNN Ratings Hit Three Year HighWhoops, I Meant a Three Year Low Wait I thought this was historic. Shouldn't a historic television pageant be good for the ratings of CNN, the Orange Man Bad network? Apparently not. CNN posted its lowest primetime ratings in three years over the Thanksgiving holidays, while Fox... Published:12/6/2019 12:41:05 PM
[World News] Cat And Dog In LGBTQ+ Row As the world slowly learns to come to terms with the countless new rules imposed upon it of genderbending, an even newer and potentially more controversial consequence has raised its ugly head - involving a cat and a dog! In what has been termed '... Published:12/6/2019 12:13:51 PM
[Politics] WH Adviser Tony Sayegh to 'War Room': Impeachment 'Sure Loser' for Dems White House senior adviser Tony Sayegh on Friday told "War Room" Impeachment" live on Newsmax TV that impeaching Donald Trump was "a sure loser for Democrats" in next year's election. Published:12/6/2019 12:13:51 PM
[Politics] On impeachment, Democrats opt for speed even if some questions remain

Democrats have opted for speed in their impeachment of President Trump. They think the tradeoffs are worthwhile.

Published:12/6/2019 12:13:51 PM
[2020 Election News] Ruh-Roh: Three Top Obama Officials Endorse Buttigieg Over Biden

By Mary Margaret Olohan -

Three top officials who served under former President Barack Obama endorsed 2020 presidential candidate Pete Buttigieg for president, noticeably skipping over former Vice President Joe Biden. Buttigieg received endorsements from Linda Douglass, former director of communications for Obama’s White House Office of Health Reform, Austan Goolsbee, former senior economic advisor ...

Ruh-Roh: Three Top Obama Officials Endorse Buttigieg Over Biden is original content from Conservative Daily News - Where Americans go for news, current events and commentary they can trust - Conservative News Website for U.S. News, Political Cartoons and more.

Published:12/6/2019 12:13:51 PM
[55ebed61-95d8-5c95-8423-d5af66a1f2ba] Kaley Cuoco's sister Briana set for recurring role in 'The Flight Attendant' Kaley Cuoco and sister Briana are set to share the screen in “The Flight Attendant.” Published:12/6/2019 12:13:51 PM
[Markets] Tesla stock ‘bull case’ is $500 at Morgan Stanley Morgan Stanley analysts see a best-case scenario for Tesla where the stock zooms to $500 — but they are not saying buy it.
Published:12/6/2019 12:13:51 PM
[Entertainment] Good Trouble Christmas Sneak Peek: Carnivals, Animals and So Much Fosters Family Good TroubleIt's a "A Very Coterie Christmas" for Good Trouble and E! News has an exclusive sneak peek at the big The Fosters family reunion. Like a real family, the holidays bring the...
Published:12/6/2019 12:13:51 PM
[Volokh Conspiracy] [Josh Blackman] New on Lawfare: Defining a Theory of 'Bribery' for Impeachment Where one public official act is traded for another public official act, there has not been any illegal conduct. Published:12/6/2019 12:13:51 PM
[Uncategorized] Activists Vow Protests as Betsy DeVos Calls for Greater Protection of the Accused on Campus "would require colleges to hold hearings at which a representative of each party has a right to cross-examine witnesses, including the other party, and to provide both students with all evidence gathered in the investigation" Published:12/6/2019 12:13:51 PM
[Markets] Today’s Jobs Report Blew Past Expectations — and Shocked the Stock Market The U.S. added a seasonally adjusted 266,000 jobs in November and unemployment rate fell, according to the Labor Department’s November 2019 Jobs Report. Published:12/6/2019 12:13:51 PM
[structure:news/uk-news] Royal Academy of Music takes action over 'casting couch' student complaints  Published:12/6/2019 12:13:51 PM
[Entertainment] Republicans would have us going in circles on impeachment There is no end to it. Published:12/6/2019 12:13:51 PM
[Markets] Tech War Set To Deepen As China Stockpiles US Chips Amid 'Silicon Curtain' Threat  Tech War Set To Deepen As China Stockpiles US Chips Amid 'Silicon Curtain' Threat 

The US and China trade war continues to deepen this week with the increasing chance that a phase one trade deal has been delayed until 2020. In the meantime, we've been reporting on a Sino-U.S. technology war developing, something that has been heating up in recent months. 

China understands the tech war with the US is about to erupt, that's why the country has been pulling forward orders of US chips, reported Bloomberg. It's an acknowledgment that China is preparing for the worse, and it's likely the Trump administration could prevent Chinese companies from buying chips if the trade war deepens further. 

We reported earlier this week that the Trump administration considered banning Huawei from using the US financial system as a nuclear option to crush the company.

If White House officials were proposing that, then they've also been preparing to ban Chinese companies from buying US chips altogether.

In the past three years, Chinese imports of US chips have jumped, despite ongoing trade war threats that have surged in the last 1.5 years.

As shown below, imports of chips and chip equipment were $1.7 billion in Aug., the most since 1Q17, and continued increasing through Oct.

Bloomberg notes that there's a severe risk that the Trump administration could impose new measures that would establish a "silicon curtain" to halt all shipments of US chips to China.

"It's politically intolerable to China that the US has an at-will ability to turn off major companies like ZTE and Fujian Jinhua, as well as being able to deal major operational blows to Huawei," Dan Wang, a tech analyst at Gavekal Dragonomics in Beijing, told Bloomberg "So the government and the companies are trying to be more technologically independent."

This past summer, the Trump administration blacklisted Chinese companies, including Huawei, from selling products to certain US firms unless the federal government granted special licenses. This forced Huawei to develop new domestic chips to reduce the dependence on the US.

Many Chinese firms, including Huawei, have been ramping up purchases of US chips since about 2018, in anticipation of being blacklisted.

Huawei understands what's coming down the pipe and how the trade war is likely to deepen in 2020. The company has also moved its US research center to Canada to avoid having its US assets frozen. 

Huawei, like many other Chinese firms, pulled forward chip sales to get ahead of new US economic sanctions. So what happens when Chinese firms stop frontloading chip purchases? Does that mean PHLX Semiconductor Sector is in a blowoff top if purchases pullback? 


Tyler Durden Fri, 12/06/2019 - 13:10
Published:12/6/2019 12:13:51 PM
[Politics] Schiff: Trump 'Doesn't Give a S***' About What's Good for US Rep. Adam Schiff, D-Calif., accused President Donald Trump of caring more about himself than what’s good for the U.S. Published:12/6/2019 11:40:46 AM
[Quick Takes] Poll Finds Bernie Sanders Making Significant Gains With College Students "Trump received the second highest support at 17.3 percent, but the poll noted that Democratic student votes are more divided because of the number of candidates." Published:12/6/2019 11:40:46 AM
[Markets] 3M's stock surge is leading the Dow to a more than 300 point gain at midday 3M's stock surge is leading the Dow to a more than 300 point gain at midday Published:12/6/2019 11:40:46 AM
[TC] Dutch startup Meatable is developing lab-grown pork and has $10 million in new financing to do it Meatable, the Dutch startup developing cruelty-free technologies for manufacturing cultured meat, is pivoting to pork production as a swine flu epidemic ravages one quarter of the world’s pork supply — and has raised $10 million in financing to support its new direction. When the company unveiled its technology last year, it was one of several […] Published:12/6/2019 11:40:46 AM
[Markets] Is Pelosi Rushing Impeachment Because Dems Know They Have Failed? Is Pelosi Rushing Impeachment Because Dems Know They Have Failed?

The verdict is in: Opinion polls show that weeks of public hearings have done little to change the public's attitude about whether President Trump deserves to be impeached. By now, the message is clear: The Dems took a gamble on impeachment, and lost. Now, Pelosi is apparently going about clearing the decks so she can get on with her next piece of business: Blaming 'the squad' and AOC for the impeachment fiasco while hoping that throwing the progressives under the bus is enough to protect the dozens of moderate Dems in swing-district seats who delivered the Dems their majority in 2018.

Despite having their press credentials revoked by President Trump, Bloomberg's Washington bureau still apparently has its finger on the pulse of what's happening in the capital, and its reporters claim that the articles of impeachment could be finished by next Thursday, opening the door to a vote on impeachment the following week before Congress breaks for the holiday.

Though members of the Judiciary Committee are still debating what to include in the impeachment, BBG says they could begin voting on specific articles as soon as Thursday, citing officials familiar with the chairman's thinking.

That would clear the way for the entire House to vote before Congress heads to recess for the holidays.

Though Pelosi insists she hasn't set a deadline, it would appear that both she and President Trump support 'doing it now' with regard to impeachment, as President Trump put it in a tweet earlier this week.

Both parties have their eyes on the electoral calendar, which "is what it is," as one Democratic Rep told BBG. It's also notable that many (including Republican witness Jonathan Turley) have accused the Dems of rushing impeachment.

"We are trying to be sensitive to the fact that it is going to spill over into an election year. And we’re trying to wrap it before that happens here in the House to give the Senate the opportunity to set its own timetable," said Democratic Representative Gerry Connolly of Virginia, a member of the Oversight Committee. "The calendar is what it is."

Meanwhile, pressure is growing on Pelosi to bring USMCA up for a vote by the end of the year, from both Republicans and Democrats. BAML global rates and currencies strategist David Woo told Bloomberg that the passage of USMCA by the end of the year is one of the three "make or break" scenarios girding his 2020 markets projections.

An official familiar with Pelosi’s thinking said that the most powerful Democrat on the Hill is acutely aware that the public's patience with impeachment is limited, and, after weeks of hearings, Americans are still roughly split, with 47% to 48% percent supporting impeachment, and 44% to 45% opposing.

And the longer the process drags on, the worse the numbers will look. Meanwhile, the longer she delays a vote on USMCA, the greater the risk of being blamed for trying to sabotage President Trump's economic agenda. After all, Trump's highest approval numbers stem from his handling of the economy. The president's paranoia about a recession arriving before election day inspired his attacks on the Fed and, arguably, the central bank's entire 'midcycle adjustment', and it underscores how important the economy is to his re-election hopes.

Tyler Durden Fri, 12/06/2019 - 12:30
Published:12/6/2019 11:40:46 AM
[Entertainment] Uh Oh! Kristin Cavallari & BFF Kelly Henderson "Aren't Even Speaking" In New Very Cavallari Promo Kristin Cavallari, Very CavallariBest friends forever? This may not be the case for longtime friends Kristin Cavallari and Kelly Henderson. In an all-new teaser for season three of Very Cavallari (which premieres on...
Published:12/6/2019 11:40:46 AM
[Markets] Saudi Aramco Has Eclipsed Apple. Size May Not Matter. The largest public company in the world as measured by market capitalization is now Saudi Arabian Oil Co. Investors may be put off by the bigness, but history shows it has little bearing on stock performance. Published:12/6/2019 11:40:46 AM
[Markets] Key Words: Biden fears he would inherit recession from Trump Joe Biden is broaching the “R” word: recession.
Published:12/6/2019 11:40:45 AM
[World] In Defense of the Noble Freelancer

Big media outlets claim to speak for the powerless, so why do they treat their own employees like trash?

The post In Defense of the Noble Freelancer appeared first on The American Conservative.

Published:12/6/2019 11:40:45 AM
[] Cowbell: Stock Market Surges After Yuge Jobs Report Gotta have more cowbell. Stocks surged on Friday on the back of U.S. jobs growth that easily topped analyst expectations as Wall Street wrapped up a choppy week of trading. ... The U.S. economy added 266,000 jobs in November, according... Published:12/6/2019 11:40:45 AM
[] OMG, they're so mad! David Axelrod seriously ENRAGES the Left with his impeachment prediction and LOL David Axelrod pulled out his magic crystal ball to help people 'skip ahead' with the whole impeachment mess. Unfortunately for ol' Dave, his ball is a little off.


Hooboy. Let's try that again.

For those who want to skip ahead: The House will impeach @POTUS because Dems have been trying to impeach him]] Published:12/6/2019 11:13:12 AM

[topics:people/edouard-philippe] France braces for more mass protests as Macron rules out re-election bid if reforms fail Published:12/6/2019 11:13:12 AM
[worldNews] Labour leader makes Brexit offensive ahead of UK election showdown British opposition Labour leader Jeremy Corbyn went on the Brexit offensive on Friday, seeking to hit back at Prime Minister Boris Johnson's main campaign message as they both prepared for a final TV showdown ahead of next week's election.
Published:12/6/2019 11:13:12 AM
[Politics] Sen. Murphy: 'Small List' of Republicans Considering Voting to Impeach Sen. Chris Murphy claimed Thursday that he knows of a "small list" of Senate Republicans who are considering voting to impeach President Donald Trump, but he wouldn't name them.  Published:12/6/2019 11:13:12 AM
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