Tag Archives: Eu

October 24, 2018 · 14:45

The ethical threshold

When is it too much? That is the initial question I had. I am a tweeter, I love my twitter, I will be honest on that. I tend to merely be nice there, with all the negativity in the world thinking only positive there is merely a choice. Also, why would you want to waste time attacking a person there? OK, I have to admit, when Jimmy Kimmel decided to take the mean tweets as a segment, I ended up laughing out loud, especially the Marvel cast ones. Why would anyone do this? Why would Chadwick Boseman (Mr. Black Panther himself) get confronted with: “Okay, how did the coolest blackest dude in the galaxy end up with a whitebread-a– name like Chadwick” It was fun and he laughed too, but why do that? OK, if it was just a little friendly jab, I would get it, but why would you state to Scarlett Johannson: “emotional range of a f–ing celery”? It makes no sense to me. Sometimes we have an aversion to an actor, or perhaps more direct to the role that an actor portrayed, which makes perfect sense, but why vent it? I loved her work in many movies, and if there is one I did not like, then it is ‘The Other Boleyn girl‘, I personally believed it fell flat after the Tudors, which had nothing to do with her, Natalie Portman, or Eric Bana. In the end, it might not be the actors at all, merely the vision and choices of the director. It does not matter, I was no fan of that movie, yet to go out and tweet to her (or any of the other two) on how bad they acted seems like a waste of time and totally uncalled for. Many people feel that way, when we consider she gets hundreds of (optionally mean) tweet, yet each of them has tens of thousands of fans. Is it an ethical choice not to lash out? It might be, or it is merely good manners. Whatever it is does not matter, it is a visible part in all this.

In opposition, when do you professionally make choices based on morality or ethicality? We all do them and even as my threshold there is slightly higher than the Eifel tower, I do have them. I also believe in loyalty (even as some of my bosses have never shown that distinction themselves). There we have another setting do we not? So even as some might rage on how we need to make choices, as some rage against certain settings like playing hide and seek with the corpse of Jamal Khashoggi, whilst some claim to have evidence of recordings, that recording still has not been revealed to the world, these sources have now stopped mentioning that claimed piece of evidence, so when you seek political opportunity over a cadaver, how does that go over with some people? When you are merely an Iranian tool making claims and then leaving the accusation in the dirt, how does one ethically consider that person to have any intrinsic value or reliability?

So as Reuters gives us: “CIA Director Gina Haspel, in Turkey to investigate the death of Saudi journalist Jamal Khashoggi, has sought to hear a purported audio recording of his torture and murder, four sources familiar with her mission told Reuters on Tuesday” and now a week after the claims, the evidence is not forthcoming, why consider that government to be any level of ally?

Yet that is another matter, the ethicality of this is part of it all, not the rest of that stage. The entire stage of ethicality is seen in fortune as we are faced with: ‘SoftBank’s CEO Won’t Speak at ‘Davos in the Desert‘ Even Though Saudi Arabia Put $45 Billion Into His Vision Fund‘. There we should have some issue, when you get $45B invested in, should there not be some ‘tit for tat’, or is that what they sometimes call in the UK ‘tits for dad’?

So when we see: “However, according to a Tuesday report, Son has now cancelled his speaking appearance, though he may still show up at the conference“, how does that go over? I had the idea for an alternate information system that is based on something that does exist, but now on a much larger scale, a new way of driving 5G data forward, a new information system. I even came up with a new 5G device type called the ‘dumb smart device‘, not only did I not get any penny of $45 billion (which would have been way too much), I also did not get an invitation of speaking option at “Davos in the Desert”, which in hindsight makes perfect sense as I never gave my email and phone number to Saudi Crown Prince Mohammed bin Salman, so it all partially makes sense. So as we see that list of important people like Jamie Dimon of JPMorgan Chase, Stephen Schwarzman of Blackstone and AOL founder Steve Case had pulled out in protest, we need to also realise that they are part of a setting where the pot is calling the kettle black. Remember JPMorgan’s and their $12 Billion Bailout? They want to talk morality? And in the end, we know that Jamal Khashoggi met his death in the consulate, we do not know the details, yet the people claiming to have evidence are not showing it and in addition those people are allied with Iran who is in a proxy war with Saudi Arabia. I know I have said that perhaps a little too often, yet the newspapers and online media REFUSE to add that truth to their articles, is that not strange? Yet this is about certain poor choices, however they were not the poor choices of those behind ‘Davos in the Desert‘. When I see the highlighted Softbank CEO Masayoshi Son and how he is not speaking at a multi-billion dollar event, is he merely proclaiming that he has ethical boundaries? Let’s not forget that apart from the fact that a journalist died under weird conditions, we have seen no actual evidence of ANY kind. We have seen actions that imply a cover-up, yet there is still not one clear piece of evidence that Saudi Crown Prince Mohammed bin Salman did any of it, or even order it. That evidence was never shown and the Turkish claims have never been supported by evidence, was it? That part is more important than you know, because when we take ethical and morale based evidence from equity people like Jamie Dimon or Stephen Schwarzman we truly have gone off the deep end. So whilst he might be there, he is now optionally missing out on opportunities that go beyond merely Saudi Arabia, when we see that Sheikh Mohammed bin Rashid Al Maktoum, Vice President of United Arab Emirates, you better believe that you are selling your investors short and how does that usually go over with those ‘return on investment chasing accountants‘?

He is important in more than one way. You see, he has been very active in growing the impact of the UAE on a global scale, the vice president is using LinkedIn at every option there is and his industrious nature gives rise to forwards momentum for the UAE and that means more investments and more optional profits, so why walk away from the opportunity to speak out, whilst the cold light of evidence has shown doubt on events, no evidence is presented, not even claimed evidence; when we abandon innocent until proven guilty in light of business we merely set the stage for bias, discrimination and abandonment of good business. That is the actual reality and the media is steering clear from that one as well. Even as everyone knows that the US is broke, it claims industrial momentum, yet it is not taxed momentum, hence where ever that profit goes is beyond the US government. They are desperate to get the money flowing their way, not the other way and we see now that the demise of the US is closer than we thought it was, as Saudi Arabia and its neighbours are steaming ahead, their footprint is pushing in positive technology ways and the rest is lagging behind. The ethical threshold is not who we do business with, it is becoming, what are we willing to accept as a norm and that is the baseline that follows us to a much larger degree, especially when you realise that the baseline of this norm is slowly moving towards an Islamic one. That part is scaring the people way too much, so even as these same people ignore the fact that the Vatican has no women in places of power and that the Reuters quote “Sister Sally Marie Hodgdon, an American nun who also is not ordained, cannot vote even though she is the superior general of the Sisters of St. Joseph of Chambery” gives clear indications that the Vatican is still as backwards as it was 920 years ago when it decided to take over the Middle East in a setting that we called the Crusades. So how far has our faith taken us? Even as we see that members of the clergy get off on Luke 12, Matthew 10 and John 11 (boys, not passages), we claim to protect children, yet the prosecution of the church members never got there, did it? So as most pushed for agnostic and atheist values, which makes sense to some, there is still a large part that drives their forward momentum through their inner faith and is there any evidence that Islam is evil? We get the ‘terrorist’ claim left, right and centre, yet how many are Muslims are truly evil? Now take the members list of the Ku Klux Klan, the member list of the IRA, White power and Neo-Nazi’s and set that in the scale against the names of terrorists that actually acted, suddenly Islam is not that evil anymore is it?

It is not important that we become Muslim, but would it hurt to learn about Muslim law and customs? If we embrace the next age of technology drive, having that knowledge makes us more and more valuable in places where the next trillions are actually spend, is that anything but our willingness to embrace some cultural change and adapt ourselves to the work sphere that we are ultimately confronted with?

How does our moral and ethical boundaries shift as we accept the religion of others, not to become Muslims, but to merely know enough to not cause offense, is that not a good first step? The BBC gave us less than a week ago the setting that we are now too poor to consider being ethical. They did that whilst posing the question: “Would you quit your job on ethical grounds?“, we are presented with Google employees who did that, yet the jackpot was gained with: “Research by Triplebyte, a start-up which recruits technical talent for technology companies, found 70% of those who get two job offers choose the highest paying one – exactly as our parents’ generation would have done“, if we accept that income is the driver, when we realise that ethics are almost no consideration in a job, would it matter if we embrace an Islamic employer? As we see that the answer is one we can live with a lot more than a job by ethically coloured and filtered Christian employer, can we truly ignore the optional long term life and security that some growing employers are giving us. That will be the driving factors to many and as such we will see that the Middle East influence will grow straight into the Common Law nations. When we realise that last year we were confronted in the UK with the notion that ‘Just one in five Muslims are in work as report finds they are held back by racism‘, what happens when the Muslim corporations see that this could be the driving force to open shop in a much larger audience all over Europe and even in the US. It is merely another facet in ‘the cost of doing business‘ versus ‘the cost of being in business‘. We have forfeited a large option by being choosy on who we choose, often on race, age and looks and that is how the cream evaded the corporations for a much longer time. Now as we see that the momentum is no longer in their corner, the work sphere will change a lot more than we ever could have realised.

A change we started in 1095 when Pope Urban II gave us: “calling all Christians in Europe to war against Muslims in order to reclaim the Holy Land, with a cry of “Deus vult!” or “God wills it!”“, now that we are entering an age where the roles are reversed because we decided to focus on profit and greed, we have no one else to blame but ourselves and the people we ourselves elected. So when we accept the history channel with: “between 60,000 and 100,000 people responded to Urban’s call to march on Jerusalem. Not all who responded did so out of piety: European nobles were tempted by the prospect of increased land holdings and riches to be gained from the conquest. These nobles were responsible for the death of a great many innocents both on the way to and in the Holy Land; absorbing the riches and estates of those they conveniently deemed opponents to their cause. Adding to the death toll was the inexperience and lack of discipline of the Christian peasants against the trained, professional armies of the Muslims. As a result, the Christians were initially beaten back, and only through sheer force of numbers were they eventually able to triumph“. How does our morality fare at this stage? In the end, whether we call them nobility or captains of industry, how many of them walked away with the setting that the benefit of all was merely their bottom line, and after all these years are you still accepting that excuse of as their profit drive?

When we see that a mere 12 hours ago we were given a Microsoft issue through: “But there’s evidence that Windows Insiders knew about and reported this problem, and Microsoft didn’t follow up on it, apparently not realizing the severity of the issue.” (at https://www.extremetech.com/computing/279368-windows-10-1809-may-have-another-file-deleting-bug-problem), another setting of profit and time pressure over quality and reliability, and this is not merely one of a few issues, this have been going on for well over two decades and in the end we end up in the same place, with a more expensive device making no headway. That part alone is part of the success that Google and Huawei gave them the forward push via their vision, driving forward momentum, so why would we want to stay in a place where the ‘status quo’ (not the band) is considered sexy?

So if my views are evil, then I am the Ifrit, the rebellious spirit that yearns for change and momentum, something that has been lacking in technology for too long, as profit boundaries has replaced ethical ones and therefor iteration trumped advancement a race that is now pushing the advantage to the Middle East and let’s not forget that Israel is part of the Middle East and they are also pushing technology boundaries through a whole range of tech start-ups, another reason to accept a much larger range of changes in our lives.
In the end, it is not where we need to go, it is where the opportunities are grown, and when we consider that “Diane Green, the chief executive of Google Cloud, also pulled out on Monday, according to the company” and gave that ‘Davos in the Desert’ a miss, whilst in the end, no evidence was given on several parts of the now accepted act of manslaughter by unknown parties, so not murder as the legal difference is proven intent, we need to ask more questions, not on merely the guilty parties, but those acting on alleged accusations that have not been met with evidence three weeks later is a much larger failure by those same people who kept quiet on years of endangered data safety (The Google+ issue), those needing a dozen billion dollars for bailout (and therefor their poor judgement) all clearly shown and proven, they are claiming some level moral high ground whilst evidence of the other act is still not given, where is our fake sense of ethical borderline now?

I call to some degree that the ethical threshold is one we live by; it is one that others call us on; that distinction is large and ignored by a lot of players. So when Al Jazeera gives us: “Fadi Al-Qadi, a Middle East human rights advocate and commentator, also denounced the photo-op as “ruthless”“, as well as “And here is the video. Salah (#JamalKhashoggi son, banned from travel) had to shake hands with who is believed to be his dad’s killer. Ruthless. Ruthless. Ruthless #Khashoggi pic.twitter.com/EKS9UZQ8Jc” that whilst evidence of ‘his dad’s killer‘ has not been given in any way shape or form, mere accusations from one of the tools that Iran employs, and until the evidence is clearly brought, that is how I will remain to see it. I feel for Salah Khashoggi, I truly do, and the pain of losing his father would be there, but is he merely in pain because of the hundreds of unsubstantiated accusations in almost all the large media? Is that not an important question in all this?

So as we see the impact of the accusations on so many levels, yet all in a setting where no evidence is handed out and whilst the global media is still using the extensive news leaks alleging that Turkey has audio recordings documenting Khashoggi’s demise and even dismemberment, no evidence has been given to the people. Claims of handing out the evidence were knocked back again and again, so how long until we make the ethical demand: “Hand over the evidence now, or be ignored for all time“, that will not happen, will it. The EU is too desperate to keep any talks with Turkey and Iran going and Turkey is taking advantage of that situation, whilst many claims by the Turkish government are a joke on many levels, even legal ones.

When will we learn that ethical, moralistic and emotional considerations are not merely different coins, they tend to be different currencies as well.

We can only choose out own path and make it the best path as we can, we need to realise that the high ethical and moralistic path is not a comfortable one and for the most, we are all about comfort, we have been so for much too long and through that we forgot what true values are, the media merely made it worse.

1 Comment

Filed under Finance, IT, Law, Media, Politics, Science

Tagged as Al Jazeera, Black Panther, Blackstone, Chadwick Boseman, CIA, Davos in the desert, Diane Green, Eric Bana, Eu, Fadi Al-Qadi, Gina Haspel, google, Google cloud, Huawei, Ifrit, Iran, Islam, Jamal Khashoggi, Jamie Dimon, JPMorgan Chase, Masayoshi Son, Mohammed bin Rashid Al Maktoum, Mohammed bin Salman, Muslim, Natalie Portman, Pope Urban II. Crusades, reuters, Salah Khashoggi, Saudi Arabia, Saudi Crown Prince Mohammed bin Salman, Scrlatt Johannson, Sheikh Mohammed bin Rashid, Sister Sally Marie Hodgdon, SoftBank, Stephen Schwarzman, the Guardian, The Other Boleyn girl, the Tudors, the Vatican, Triplebyte, Turkey, Twitter, UAE, UK, United Arab Emirates, US

October 4, 2018 · 13:11

One economy crises a day

Yes, it is the Guardian that alerts us to: ‘World economy at risk of another financial crash, says IMF‘ (at https://www.theguardian.com/business/2018/oct/03/world-economy-at-risk-of-another-financial-crash-says-imf). So as we see: “Debt is above 2008 level and failure to reform banking system could trigger crisis“, we think that this is a small issue, but it is not, it is however not the real dangers, merely a larger factor. The quote “With global debt levels well above those at the time of the last crash in 2008, the risk remains that unregulated parts of the financial system could trigger a global panic, the Washington-based lender of last resort said” gets us a little closer to it all, yet it is the phrase ‘Washington-based lender of last resort’ that is a little more at the core of it all. This, or in a roundabout mention towards the US federal reserve is not the only part in this. It is the ECB with its quantative easing setting, now at 3.7 trillion, which in light of the Bloomberg article in 2017 (a year ago now) mentioning ‘Some ECB Members Identify 2.5 Trillion-Euro QE Limit‘ becomes a larger issue. With the US national debt at $21.5 trillion the ECB at an estimated €2.4 trillion bonds as per June ($2.7 trillion), we are going off the deep end soon enough. So as people were all in such a state that I was wrong, it would not happen again and that the economy is great. Consider that I warned about this danger several times between 2016 and the latest in May 2018 with ‘Milestones‘ (at https://lawlordtobe.com/2018/05/05/milestones/). Yet all the parties are stating that I was wrong, and several hours ago, the Guardian treats us to: “The growth of global banks such as JP Morgan and the Industrial and Commercial Bank of China to a scale beyond that seen in 2008, leading to fears that they remain “too big to fail”, also registers on the IMF’s radar“. Yes, ‘too big to fail’, or should that be ‘to big too fail‘?

So when we see Gordon Brown getting quoted with: “former UK Prime Minister Gordon Brown said last month that the world economy was “sleepwalking into a future crisis,” and risks were not being tackled now “we are in a leaderless world”“. I found his response slightly moronic as there is no leaderless world, there are merely elected officials who know that they are merely in temp positions and they are paving the way for really nice paid futures. There is a distinct difference there. And in that I am still modestly awaiting my honour degree from the London School of Economics, in a pinch one from the Wharton School of the University of Pennsylvania will do too.

So when we see both “Christine Lagarde was concerned that the total value of global debt, in both the public and private sectors, has rocketed by 60% in the decade since the financial crisis to reach an all-time high of $182tn“, as well as “the build-up made developing world governments and companies more vulnerable to higher US interest rates, which could trigger a flight of funds and destabilise their economies. “This should serve as a wake-up call,” she said“. My response will be: “No Christine, you are wrong! The entire setting of a wake-up call is already 3-4 years too late. You have been unable to nurture the ECB, keep governments awake to get spending under control and the fallout will be huge and the people get to pay for it all“. The one benefit is that too large a population will be going through two depressions wiping out all their savings soon enough and in that there is an actual chance of a new civil war that would spread all over Europe. At that point the life of any politician will be £0.02 at best, once that starts, there will be not merely a Brexit, it will herald the end of the EU and it will impact the US in a most disastrous path, not merely wiping economies out, there will be a lack of trust between the US and the EU that will surpass the distrust levels between the USA and CCCP at the height of the cold war. It will redraw global economic maps to the larger degree. That is also seen in the part when we recollect the June 23rd article called ‘They are still lying to us‘ (at https://lawlordtobe.com/2018/06/23/they-are-still-lying-to-us/). There we were treated to “Greece is once again becoming a normal country, regaining its political and financial independence“, remember that part? So how normal is that country as we are treated to ‘Greek Bank Stocks Tumble Amid Concerns Over Capital, Bad Loans’ by the Wall Street Journal a mere 8 hours ago? So when we see “Investors appear to have completely lost confidence in Greek banks,” economists at HSBC said in a research note. The four main banks— National Bank of Greece, Alpha Bank, Eurobank Ergasias and Piraeus Bank—recently submitted ambitious plans to rid themselves of more than half of their soured loans by 2021 to the banking-supervision unit of the European Central Bank, several bank officials said. Under the new plans, which the ECB is considering, the banks would commit themselves to reduce their nonperforming loans to 15%-21% of their total loans, compared with today’s levels of 40.7%-54.7%“. the article (at https://www.wsj.com/articles/greek-bank-stocks-tumble-amid-concerns-over-capital-bad-loans-1538584978) gives us a lot more, but it shows that the banks are trying to shed the bad loans in as creative ways as possible and in this the governments are as I personally see it part of the problem, they were never part of any solution and the people will get to pay for it all as they were treated last quarter to: “as elderly Greeks face losing up to €350 ($416) per month when new pension cuts are implemented as of Jan. 1, 2019“, I believe that as the Greek banks collapse to the larger degree, as the Greek banks are shedding over 50% of outstanding loans, their value would also collapse as will their prospects and the loss of confidence will only increase the pressures. All whilst payments will still be due and cannot be met as it is staged to be at present. So there is a chance that Greeks will lose 50% more than they are currently losing at present in the next quarter, so we will see that the Greeks will start the year in utter poverty and the rest of Europe is not far behind. The ECB with its badly conceived QE plan has achieved that, so when the people are given that danger and handed the loss of retirement funds, utter rage will not be far away after that.

It was one of the reasons why I kept close eyes on Salini Impregilo. Even as Europe is going proverbially down the drain Salini Impregilo has been making headway on a global scale, foremost in Saudi Arabia and as their projects are kicking off, the infrastructure needs for Saudi Arabia grow. Their needs for dash boarding, reporting and data analytics will rise over the next two years and will require more and more knowledge and infrastructure with any additional building they are assigned. The entire project of the King Abdullah Financial District (KAFD) drew it even further to the foreground, merely because the required concrete levels that can be delivered seem to be at 30%-40% of what is required soon enough. It is an opportunity for Saudi Arabia and the UAE, but also optionally for Egypt. All these shortages ignored for now, yet when we see the image from 2012 and what was required then, and we consider that Neom will require close to 15 times that, where will the concrete come from? And it is not merely the availability; it will be about the proper planning of resources. Even as Salini Impregilo is merely a larger player of several projects, they in the end all need their concrete and where will that come from? So at this rate I expect to see the delays making the forefront news from 2020 onwards. Even as some places are increasing as much as they can afford. I expect it to fall short by a larger degree soon enough and when we are introduced to the heart of the matter. Smart cities will need smart infrastructure and the wiring will be well over 20 times what the entire Boeing 787 Dreamliner fleet required and that is a lot. the skills, the training to get the amount of people fuelling this is short on every level as I see it, so as Europe collapses with the debt, Saudi Arabia gets the option to buy staff cheaply soon enough. No merely getting the knowledge they need. Yet the brain drain to that extent has never been seen before anywhere in the world and that is where the ECB will suddenly realise that the fuel required to fix any acts of stupidity in the last 10 years will no longer be available and at that point Wall Street will wake up getting to live the perfect nightmare. It is not merely that there will suddenly be a boost of economy because there is no unemployment, getting the people trained up will take decades, stopping economic growth right quick and for much too long.

And as other players open up the doors for a guaranteed decent lifestyle, the setting is changing. We see that in the European Pensions last July, a mere 2 months ago when we were given: “European pension schemes are becoming increasingly attracted to the high returns and diversification benefits offered by frontier markets” This is the setting of: ‘more developed than the least developing countries, but too small to be generally considered an emerging market‘, yet as the high returns are estimated, the risks are also higher and there seems to be the risk ‘risk premiums are more greatly affected by political, economic, and financial factors‘ that is seemingly ignored to a larger extent. We see that part when we consider both “MSCI Frontier Market Index is the most widely used benchmark for equities. However, even this is highly concentrated in certain markets and sectors – financial stocks make up 46 per cent and the top three countries make up 53 per cent“, as well as “Argentina, which makes up around 22 per cent of the index, and Vietnam, 15 per cent“. So, now consider that the very same Christine Lagarde treats us to: “The International Monetary Fund (IMF) has agreed to increase a lending package with Argentina by 7.1 billion US dollars (£5.3 billion), seeking to calm markets over the country’s ability to meet its debt amid growing economic turmoil” a mere week ago. Do you still think that I was kidding or merely trying to kick the dead donkey? I am not stating that this is the fault of Argentina. I am speculating that too many parts of Wall Street are banking on the failure of others and it opposes the setting of returns on those seeking success, in this setting the pensions will lose, optionally they will lose every time without fail and the people are left with an empty bag not worth the price of that empty bag. Do you think that people will sit down and accept that? No, they will be beyond furious and the setting of Johan de Witt and Cornelis de Witt blamed and lynched in The Hague, the rioters were never prosecuted. So, there will be enough motivation on more than one level. It is something for the current European politicians to keep in mind, because this could happen again and the setting that the people face over the next 10 years is a lot worse than the ones that the population faced then. At that point, when this starts, I truly hope that those politicians will have the option of a quick getaway out of Europe, because they will not know safety ever again in that place.

So whilst we see the distancing of politicians on all fields whilst trying to drench themselves in non-accountability, whilst they will try the path of ‘It was a miscommunication and we were given the wrong advice‘, the people will no longer accept that as the evening news. They will want their pound of flesh and a bucket of blood and the regard of the value of politicians at that point will have been degraded to zero, and their ‘post life’ Facebook profile image might optionally look similar to the painting of the brothers De Witt as it was in 1672. You might think that it is mere speculation and it is, yet the trigger is not my speculation, it is the message of economic crises after economic crises as the governments are not acting against the banks and the exploiters that hide behind ‘too big to fail‘. The people all over Europe, if not on a global setting as they are mistreated to overly optimistic futures that cannot be met and have not been met for over a decade, you see, if that was actually true debts would have been receding, would they not? The only ones that did that harshly were the Germans and they are indeed in a much better place. It is the difference between being popular and doing what needs to be done and in that Angela Merkel was not about being popular, yet now those Germans are in a much better place than most other nations. It is something for you to consider as you notice your pension is gone and you want to take it out on someone.

so whilst we consider the final line in the Guardian, which was: “Without a rise in investment economies remain vulnerable to financial stress“, we need to consider that the setting is not merely about ‘investment economies‘, it is about the setting where large corporations come in and use that setting to ‘invest’ whilst draining away the gained momentum, so the economy that once was in that stage has been drained and those momentum profits are relocated to other places where ever those boards of directors are fuelling their personal wealth accounts, leaving those nations in a post investment era that is now merely regarded as a consumer fuelled economy whilst those people never gained the better economic standing to spend the money fuelling it further.

A setting where the equilibrium of economics fails as there was never a state of balance, merely a stage of relocating available wealth and the frontier markets are no help, they are merely an optional stage not unlike the CDO issues of 2008, in my view a way to avoid taxation and move whatever they could to a non-reporting nation. Or as one source stated: “the smarter operators no longer use filthy lucre but instead employ modern financial devices such as Interest Rate Swaps (IRS) and Total Return Swaps (TRS) to evade tax“, a setting where some take a 4% loss to avoid 26% taxation, it still wins them 22% and many had to live of a bonus a lot more shallow then that and from a base amount massively smaller than the one moved away.

One crises a day, I wonder what the bad news we will get treated to next week.

#HappyWorldAnimalDay

Leave a comment

Filed under Finance, IT, Media, Politics, Science

Tagged as Alpha Bank, Angela Merkel, Argentina, Boeing 787 Dreamliner, Brexit, Christine Lagarde, Cornelis de Witt, ECB, Eu, Eurobank Ergasias, Greece, IMF, International Monetary Fund, Johan de Witt, KAFD, King Abdullah Financial District, London School of Economics, MSCI Frontier Market Index, National Bank of Greece, Piraeus Bank, Russia, Salini Impregilo, Saudi Arabia, the Guardian, The Wharton School, University of Pennsylvania, USA, Vietnam, Wall Street Journal

September 18, 2018 · 14:11

The European conglomerate of corruption

It was always going to happen, it was always going to get pushed. Yet the setting and the size of the levels of corruption is just beyond anything I could have imagined. How large corporations and politicians set hand in hand to enable corruption is just staggering and the media is assisting in this process. This is more than just Brexit. The article (at https://www.theguardian.com/politics/2018/sep/17/uk-needs-darkest-hour-in-brexit-talks-before-giving-ground), gives more than just the title ‘UK will shift Brexit stance in its ‘darkest hour’ claim EU officials‘.

Now some will throw ‘corruption’ left, right and centre, so let’s take a look at this. The dictionary gives us “dishonest or fraudulent conduct by those in power, typically involving bribery“, the problem is that most people just think it is about the money and most of the time they are correct. Yet the legal dictionary gives us: “The use of public office for private gain“, Dunhaime gives us in addition the Canadian setting with: ““Corruption is understood to be the exploitation of a position of trust, typically in the public sector, in order to receive a private gain, which may or may not be financial. “Corruption is not a simple issue of right and wrong, and conditions that encourage public officials to seek out or accept corruption include (a) the expected gains from undertaking a corrupt act exceed the expected costs and (b) little weight is placed on the costs that corruption imposes on others.” We got this part from Karen Katz in the Canadian Law Journal.

In this we must also include the American version, which was discussed in In Nixon v Shrink Missouri Gove, where Justice Souter of the United States Supreme Court used these words: “Corruption is a subversion of the political process. Elected officials are influenced to act contrary to their obligations of office by the prospect of financial gain to themselves or infusions of money into their campaigns“, it is the elected officials part that matters.

When we are confronted with: ““A lot of movement is needed by the UK side before we can actually reach agreement”, said one senior diplomat. “We need a substantial change in the UK red lines still.” A second EU diplomat added: “It seems that the UK needs to have a ‘darkest hour’ moment before they will shift position. But they will have to shift their position.”” In addition, we see the fear mongering by Christine Lagarde, managing the IMF, who so far has been wrong thrice over in the last four years alone. We are given “a no-deal Brexit would deliver “reduced growth, an increase in the [budget] deficit and a depreciation of the currency“. In this we see another claim that has to be proven wrong again, all in the need of fear. You see this fear is growing. It is in part growing because the Italians are also moving on an ItaLeave (or is that iExit) path.

A path that even I did not see happening. I gave voice to the danger two years ago, but I also recognised that it was unlikely to happen, not as much as France and they pulled a rabbit named Emanuel Macron, not the Emmanuelle the European man were hoping for (see image). Yet in Italy it did go a lot further And now that Metteo Salvini is the elected group, the powers of Wall Street are getting scared, they are contemplating the end of their long reign of exploitation, so this wave is perhaps the last one, which makes the subversion of British Freedom even more essential. And in this British politicians are helping out, because London has been scared by all the fearmongering and Sadiq Khan is now worried for his town. He is shouting on the need for a second referendum. Yet, I want to set a few parts as well. The first is that the ECB gets disbanded, it is not transparent, it has taken liberties that are beyond acceptable and whenever the G30 bank elite comes to mention it had been avoided again and again. That is the setting towards what I regard to be of levels of corruption that are beyond acceptable. I personally want to add the right of targeted killing that means that any given links on politicians and the banks and large investors that is regarded to be unacceptable comes with an automated death sentence. I wonder how many politicians will get worried, they claim they will not be, but one knock on their door with the mention of the Battersea Power Station with the quote: “In an interview with the Guardian, Anwar, who was released from prison after the opposition won power for the first time in Malaysia, said the previous government had used the savings of ordinary people to cover up the multibillion-dollar embezzlement scandal at 1MDB, a state investment fund.“, and when we consider the news merely 5 days ago (source: the Guardian) with: “Peter Bingle used his longstanding relationship with Ravi Govindia, the leader of the London borough of Wandsworth, in attempts to circumvent council officials he believed were being obstructive to his clients, including over the size of payments due to public projects“, I think that my case has been decently made. In this we will hunt down and give the fear mongers the option to either show clear evidence or get executed. Is that not an easy way to get to the truth of the matter?

This reflects on Europe and the ECB, because their laughter dies down quite quickly at the point when the first ‘accidental’ fatalities hit the newsreels, after that them bitches be crying. As for the hard times. Yes, the UK would always get a few years of hardship after Brexit. Anyone stating that this is not true is lying to you. The issue becomes that after Brexit, the careless spending will no longer get pushed onto UK budgets, which also means that debts can be better dealt with quicker and also to a larger extent. That also means that as debts go down, as infrastructure issues are dealt with, it will have much better chance when the UK is not dragged down through 3 trillion stupid mistakes by Mario Draghi. OK, that was not quite true, the first Trillion we get, but when it failed he decided to add two trillion to that debt. That is the issue that the UK is confronted with and there is also the bigger crux. You see, the BBC reported last month (at https://www.bbc.co.uk/news/business-45247631) that a charity has called for tougher regulation of bailiffs, as it calculated that households have fallen behind on essential bills by £18.9bn. Staying in the EU does not fix that, the bills are still due, yet when the economy betters something can be done and that is what Europe does not want, they want that the lifestyle remains equal for all, looking at Sweden alone we see that this future is fictive and the EU is draining all funds with their gravy trains as well, making matters worse. If there was only someone who had been able to hold the ECB accountable on some of their actions, but alas, there was no option for that and there we see the one truth that Nigel Farage was correct in. If the Brits all unite for a better Britain it will work. And that is not merely those born there, anyone living in the UK, being a resident or citizen has the best interest that growing the UK is the only path that works.

The entire charity matter is also a path that matters, because it impacts life in the UK. We can agree that bills have to be paid for, but that is no longer an option as the pockets of big business are filled through exploitation and that cash is moved out of the UK through perfectly legal and creative bookkeeping. So when we see: “Citizens Advice said it was getting a call from someone needing help owing to bailiffs every three minutes. It is calling for a bailiffs regulator in England and Wales. It points to a case of an elderly couple who owed £700 in council tax who are now afraid to open their front door after bailiffs used aggressive tactics and threatened to call in the police.” We need a much better system that allows for the return to better values and pushing out exploitative business is a requirement, yet their exploitative options are protected by the EU and Strasbourg, who want the status quo and will remain in denial for another decade, whilst the required actions are already 5 years too late. Here to we see the need to go it alone for the UK and let’s not forget that Italy is already moving on that path, no matter what happens now, when Italy gets out before the UK, the options of the UK will diminish even more, and that is still on the table, even as we see the news with “‘We Want to Change Things from Within.’ Italy’s Matteo Salvini on His Goal to Reshape Europe“, we see carefully scripted answers in regards to the Italian exit, yet the EU budget fights are implying that this path remains open to Matteo Salvini. The Financial Times (at https://www.ft.com/content/cad84ef6-b10d-11e8-99ca-68cf89602132) gave us: “But others fear a spat with Rome that could spur support for Mr Salvini in European Parliament elections in May next year and re-energise his party’s calls for a eurozone exit.” That is the dilemma that all these Europeans now face, because when the UK is officially out, the Italian exit will collapse the Euro as well as the EU. A setting that was always going to happen (at some point), yet the order in how it happens will also set the stage on how it impacts the UK and my personal view is the quicker that they are out, the better their position will be and there we see the stage of all these fearmongering players, every month less is another year of pension gone and a more medial lifestyle for those people who want their golden parachute and their golden swimming pool. That whilst 99.99934%of the people in the UK (roughly) will never ever have either.

So even as he Financial Times gives us the Top Marginal personal income tax for employees , we see that Sweden heads it and the UK is a lot below that, whilst Italy is two places below that part and Italy ‘flat tax’ is dead last. Now if we could have seen another chart that includes the levels of tax avoidance (which is perfectly legal) we could clearly see that the UK will never get the amount professed in that chart. There are too many loopholes and many nations use them, the EU gave even more options there. This gets us to 2016, when we were introduced to: “On 28 January 2016 the Commission presented its proposal for an Anti-Tax Avoidance Directive as part of the Anti-Tax Avoidance Package. On 20 June 2016 the Council adopted the Directive (EU) 2016/1164 laying down rules against tax avoidance practices that directly affect the functioning of the internal market“, which sounds awesome, was it not that 8 months later, we were treated to: “Huge sums are being lost due to tax evasion and avoidance. Estimates go up to € 1 trillion“. The mere setting of dates that were not clearly added to the page and other matters missed, gives us the uselessness setting of the EU, moreover those 8 months, the people involved, what did they achieve and how much did they get paid? It is my personal opinion, yet ec.europe.eu is filled with blunders and misgivings of a nature that should have gotten a truckload of these people fired and now they all band together, because when the UK leaves their party ends and that scares them. It is not that they merely try, it is that they for the most fail again and again.

That whilst IBM gave us the opposite setting for Brexit only a month ago with: The problem, though, is that there are some signs that Brexit isn’t going to be as bad as once feared – and may, in fact, turn into a net positive for the UK, and tech giant IBM might play an outsized role in some of the developing factors. Here’s why:

Foreign Investment is Growing
Emerging Technology Solving Trade Issues
Exports Climbing and
US Uncertainty Taking a Toll

These are all matters that work for the UK over time and that is why these levels off fearmongering anger me so and I personally would want retaliation against those trying to prolong their futures through fearmongering.

All issues ignored by the media to a much larger degree and whilst they emphasize on people like Lord Adonis, we need to make certain that those doing so are given the spotlight to the larger degree after the proof is shown, we will not allow for a simple ‘sorry’ we will set the stage for draconian change to their non-journalistic path. In the first in setting these publications as no longer to be regarded as newspapers, especially publications like the Daily Mail. They can publish of course, we would never hold their right of expression, but no longer in a 0% setting, they will become vat accountable for the 20% that any magazine and glossy gossip mag is set to, the playing field should be equal, should it not? I wonder how long it takes for them to feel that 20% pinch (good for the UK coffers) and when they start passing that onto the consumers, do you think that they will continue choosing that medium, or will they consider reading an actual newspaper?

All elements of corruption. The setting of ‘exploitation of a position of trust‘ is seen with newspapers, title of status, positions of wealth and managing policies as well as the facilitation and nepotism on smoothing paths for buildings. There is too much going on and it is hurting the UK immensely. We can argue that the EU has allowed corruption levels that we had not seen since ancient Rome and when we consider who is heading the ECB, we see and optional coincidence of correlation.

The largest danger is not when the UK gets out, but when the fear mongers win and Matteo Salvini succeeds, because at that point the UK will face close to a decade of additional hardship. Are you ready for that? Are you in the UK willing to forgo heating in the winters of 2020, 2021, 2022, 2023? Consider that, because the debt of the people adding to £18.9bn implies that they have to forgo electricity or heating; what would you chose?

Leave a comment

Filed under Finance, Law, Media, Politics

Tagged as Bailiffs, Battersea Power Station, BBC, Brexit, Christine Lagarde, Citizens Advice, Daily Mail, EC, ECB, Eu, Financial Times, France, Iexit, IMF, Italeave, Italy, Justice Souter, Lord Adonis, Mario Draghi, Matteo Salvini, Nigel Farage, Nixon v Shrink Missouri Gove, Peter Bingle, Ravi Govindia, Sadiq Khan, the Guardian, UK, UKIP, United States Supreme Court, Wandsworth

September 14, 2018 · 13:31

FI01, becoming offensive

I will leave the entire Novichok alone for now, there is rustling in the weeds and it is important to look at it, but only when more actual quality information is available. It is time to take a look at the FI protocols. It is time for FI01.

This might not be the article for many of my readers, I will not shun hash words and I will not shun those wading in hypocrisy. Yet to do that, we need to look at certain definitions too and that is the part we get to after we look at the Guardian article (at https://www.theguardian.com/media/2018/sep/13/social-media-firms-could-face-huge-fines-over-terrorist-content). The article ‘Remove terror content quickly or be fined, EU tells social media firms‘. the setting given is “Social media platforms such as Facebook and Twitter will be forced to take terrorist content off their sites within an hour or face multimillion-pound fines under EU proposals“, is probably the biggest part, but let’s look on; when we see some of the parts given by Julian King, the British security commissioner in Brussels. We are given a few truths that matter. “We have got a problem with content; it is not an entirely new problem, we are not starting from scratch, we have agreed to do some voluntary stuff, and we got some good progress – but not enough” is the first part and I will get back to that, yet the more important part is “Every attack over the last 18 months or two years or so has got an online dimension. Either inciting or in some cases instructing, providing instruction, or glorifying“. I get it, something needs to be done. In the first we need to see the list and the proper setting of evidence. I get it that this is not offered online for several reasons. Yet there needs to be a lot more scrutiny. As we see the utter screw up regarding Novichoks, the lack of evidence and linked statements without evidence. We also need to state clearly that the press (to a larger extent) is part of the problem, not part of the solution. Julian King needs to realise that if his peers are dragging their heels on one side, he cannot be part of anything acceptable stating the utter impossibility of: ‘take terrorist content off their sites within an hour‘.

From my point of view, this is about something else; this is about giving governments’ direct access to social media to filter ALL content (at their leisure). To get anything done within the hour is just not realistic and they know it. It is also very clear that when 5G is here, it will be too late and that is what they fear even more, and being stupid about it is just not a solution in any place.

It becomes an even more laughable setting with: “Parties could be fined up to 5% of their annual budgets for breaching data protection rules in order to deliberately influence the outcome of the European elections, including those for the European parliament in May 2019“. So instead of making it illegal and rejecting that party from elected consideration, they get a fine? Allowing for big business to sacrifice via some small institution to cop a few million whilst still getting what they want. So when we see Julian King state: “given the track record, there has to be a chance, and we have to up our game and be more resilient“. How about setting the stage that the use of social media for elections is just out of bounds? Limit it to TV, Newspapers and magazines?

We see the problem a lot clearer when we consider the ‘High-Level Commission Expert Group on Radicalisation (HLCEG-R)‘ report from May 18^th 2018. Where exactly is the definition of ‘terrorist content’? You see, the EC is all about definitions all the time. Yet here we see an interaction and a level of interchangeability of ‘terrorist content‘ and ‘illegal content‘. It is found to some extent in the report referred to in footnote 19 where we see the report ‘COMMISSION RECOMMENDATION of 1.3.2018 on measures to effectively tackle illegal content online’. So is all ‘illegal content’ ‘terrorist content’? It seems to me that this sudden trivialisation is about something else entirely (at least to some degree).

When we look at the second report, we see: “At the collective level, important progress has been made through voluntary arrangements of various kinds, including the EU Internet Forum on terrorist content online, the Code of Conduct on Countering Illegal Hate Speech Online and the Memorandum of Understanding on the Sale of Counterfeit Goods. However, notwithstanding this commitment and progress, illegal content online remains a serious problem within the Union”

This is reference to Article 292. Yet now we see Illegal Hate Speech Online, the Sale of Counterfeit Goods as well as terrorist content online. So is this about a Nina Ricci bottle or a Prada backpack, because the devil is not in the details, the devil wears Prada plain and simple. We see to some extent the ‘aggregation’ of stupidity (as I personally see it) in item 32, where we are treated to: “In light of the particularities related to tackling terrorist content online, the recommendations relating to tackling illegal content generally should be complemented by certain recommendations which specifically relate to tackling terrorist content online, building on and consolidating efforts undertaken in the framework of the EU Internet Forum“, so when illegal content is online, we now see the implicated setting that these people could be regarded as terrorist. With ‘be complemented by certain recommendations‘, which now becomes a rather weird setting. You see ‘political opinion’ cannot be seen as illegal speech, so not getting to barrier one, also avoids barrier two. In this setting, any political drive must be proven to give the reading of proven the need that the speech instils the drive to act illegally. Until a clear act is connected, there will be no success.

This now gets us to paragraph 33, where we see: “Considering the particularly grave risks associated with terrorist content and hosting service providers’ central role in the dissemination of such content, hosting service providers should take all reasonable measures so that they do not allow terrorist content and if possible prevent hosting it“. So at this point what exactly is ‘terrorist content‘? And the reference to that paragraph refers to ‘without prejudice to Article 14 of Directive 2000/31/EC’, are you effing kidding me? That is the privacy part on a section in ‘legal aspects of information society services, in particular electronic commerce, in the Internal Market‘.

So we get this mess presented?

In that regard when we see: ‘Commission proposes new rules to get terrorist content off the web‘ It is my personal agitated view in the matter that protocol FI01 is set to President Jean-Claude Juncker, he is the Eff…ing Idiot number 1.

When we again look at the headline: “Terrorist content is most harmful in the first hours after it appears online because of the speed at which it spreads. This is why the Commission is proposing a legally binding one-hour deadline for content to be removed following a removal order from national competent authorities“, a one hour deadline? Really? Most EC parts have not been able to clean their act in years, so now social media gets sliced and cut? Is Europe so broke that they want the millions from the three social media providers because they cannot clean their own stables?

Consider the Statistics, Facebook has 2 billion active users a month, and this is not static. We see from sources that Five new profiles are created every second, there is a registered amount of photo uploads approaching 300 million per day as well as the setting that every minute on Facebook: 510,000 comments are posted, 293,000 statuses are updated, and 136,000 photos are uploaded and that is ignoring languages and expressions. The entire setting of removal in an hour is so unrealistic it is close to hilarious. When we are confronted with that, whilst ‘the Conservative’ (not the greatest source, I admit) gives us: “The structural defects of the European Commission are plentiful: an insurmountable democratic deficit; not a hint of accountability; and an opaque process of legislative formulation to name but a few“, that whilst labelled individual FI01 is also connected to: “The president of the European Commission is embroiled in a new criminal investigation into claims that “tampered” evidence misled an inquiry into phone-tapping. Jean-Claude Juncker faces accusations that his officials presented inaccurate information under oath in a case involving an alleged illegal wiretap more than ten years ago when he was prime minister of Luxembourg” (source: The Times, December 13th 2017), that is the person giving social media providers an ultimatum of an hour? You have got to be kidding me. The Telegraph gave us in addition: “The new evidence, which led to the postponing of a trial of three senior formers members of Luxembourg’s SREL intelligence service, according to The Times, showed that a key telephone transcript had apparently been doctored”

That’s the person who is part of throwing ‘illegal content’ and ‘terrorist content’ on one pile?

Good to know!

So now we get to the fact sheet!

Here we see (at https://ec.europa.eu/commission/sites/beta-political/files/soteu2018-factsheet-terrorist-content_en_0.pdf) the setting of ‘How does the new procedure for removing terrorist content work?‘ We now see the following

National authority detects and makes assessment
If considered terrorist content, removal order issued to host
Host must remove content within one hour

That seems almost harmless, does it not?

Yet we also see:

Right to challenge: Hosting service or content provider may appeal the removal order. If the appeal is successful, the content is restored; if the appeal is rejected or the deadline lapses, the removal order stands and the content must be permanently removed.
Obligation to report: If issued with a removal order, the host must report on proactive measures taken to address terrorist content online three months after receiving the removal order.

I am missing any level of accountability, too much ambiguity. So from my point of view, anyone abusing the ‘terrorist content’ for mere filtering and censoring on behalf of anyone else needs to be held criminally liable. I reckon that after 2-3 cases there will be suddenly a large need for postponed trials.

When we investigate the member states part in all this, we see no fine for the state when wrongful removal was done, we see a pressure on removing (or else), yet there is a shallow point when it comes the other way around. In addition, we see “coordinate with other Member States and Europol to ensure that evidence of online terrorist content is flagged, and that duplication and interference in national investigations is avoided“, yet there is no registration on who ordered the removal, also, there is no registration per removal id and in that stage set penalties for those having set the stage for recurring unjustified removals giving ample voice to the earlier: “not a hint of accountability“, if this is about terrorist content, is that part not equally important?

I am all for getting all terrorist content removed, yet the systems cannot get it all, that is too unrealistic and pushing a one hour timestamp whilst the other side has no accountability at all is just a discriminating joke in the making. It is also still interesting to see that they claim to fight terrorism and terrorist online activities, whilst Iran state sponsor of terrorism in still a welcome debate and trade partner in the EU. In addition, the entire matter of Iranian diplomat Asadollah Assadi and terrorist was given light a week before the EU approved plans for the European Investment Bank to do business with Iran. So you want to stop social media, whilst still doing business with these people? How unacceptable is that part in all this? If the EU cannot clean its stables, it has no business enforcing anything on social media that is how I personally see it. Yes, we can agree that terrorist content must be removed ASAP, yet what is that? One hour? 24 Hours? 72 hours? The fact that the EU does business as usual with a terrorist funding government implies that they are clueless on several grounds and the fact that we see an increasing amount of evidence growing on the matter of Iranian Missiles fired into Saudi Arabia is further evidence still that the EU is merely the pot calling the kettle black. It is in that setting that we should conclude that they have no business ‘fine giving’ any social media, especially in light of such a massive funding failure.

You see, what angers me so is the mere filtering of politicians and that needs to stop too! In this I present two elements. The first part comes from Bloomberg last year. We are given (at https://www.bloomberg.com/news/articles/2017-11-29/facebook-says-99-of-is-al-qaeda-content-spotted-by-ai) where we are treated to: “Today, 99 percent of Islamic State and Al Qaeda-related content Facebook removes is detected by the company’s AI before any user flags it, Monika Bickert, Facebook’s head of global policy management, and Brian Fishman, head of counter-terrorism policy, said Wednesday. They said in some cases the software was able to block the content from ever being posted in the first place“. Yet the other part that the Guardian gives us is: “We have got a problem with content; it is not an entirely new problem, we are not starting from scratch, we have agreed to do some voluntary stuff, and we got some good progress – but not enough“. Now we get to the good part, what EXACTLY is ‘not enough’? From my point of view Either Bloomberg lied to us, or Julian King is what some might consider as: ‘an unacceptable piece of trash’. If he wants 100%, he better give us clearly add a few elements of EC accountability and holding them criminally liable when they abuse their power. Also is any abuse of that ‘filtering content’ is found, he is to be dishonourably discharged and shamed in the entire EU, with a clear banning from ALL official positions in the EU and the Commonwealth.

Why the overreaction?

We have been fed two versions again and again and we see a lack of accountability on the EU side too often; for example the elitist banking group of 30 with Mario Draghi as a member. When the Financial Times gave us: “the close links between central bankers and the private sector have aroused public suspicion since the global financial crisis triggered a series of bank bailouts” we see suspected levels of nepotism that raises more issues than 50 successful Islamic State attacks. The article (at https://www.ft.com/content/dc64b6e2-8060-11e8-bc55-50daf11b720d) also gives us “The Ombudsman has also attacked the ECB’s argument that it was standard practice for top central bankers to join the club. The central bank chiefs of Germany, France, Italy, Spain, Poland, India, Brazil, Russia, Canada, and Australia are not members and Janet Yellen suspended her membership during her time at the helm of the US Federal Reserve”, showing that the European Commission has a truckload of issues, it is my personal view that it has no business acting in the way it does.

Yet, defence of the actions instigated by Julian King can be seen in Forbes. The article (at https://www.forbes.com/sites/kalevleetaru/2018/05/15/the-problem-with-using-ai-to-fight-terrorism-on-social-media), an Article from last May gives us: “the general public would be forgiven for believing that Facebook’s algorithms are vastly more effective. The New York Times summarized the statement above as “Facebook’s A.I. found 99.5 percent of terrorist content on the site, leading to the removal of roughly 1.9 million pieces of content in the first quarter,” while the BBC offered “the firm said its tools spotted 99.5% of detected propaganda posted in support of Islamic State, Al-Qaeda and other affiliated groups, leaving only 0.5% to the public.” In fact, this is not at all what the company has claimed. When asked about similar previous media characterizations of its counter-terrorism efforts, a company spokesperson clarified that such statements are incorrect, that the 99% figure refers exclusively to the percent of terrorist content deleted by the company that had been flagged by AI.”

This could be easily tested and as such I decided to do so and with ‘ISIS images’ I got hundreds and hundreds of images, videos and other matters in my browser and I got even more with the search term ‘Jihad Islamic state’. The video (at https://www.youtube.com/watch?v=jzCAPJDAnQA) shows actions of Islamic State, with sounds, vision and comments. It is News from Vice News, a video from 2014, still online today. At some point you need to as just how ludicrous and useless actions are. We get it that there are actions, we see that numbers become debatable. Yet in all this the mere reported numbers are already an issue, and if I added Vice News articles to me Facebook news feed, would that constitute ‘Terrorist Content’? This small part alone shows us that this is about something else and as such we better take a real hard look at the Actions of the EC, demanding that the censoring side should be held equally liable and prosecutable for their overreaction and inaction. Yet that is never ever going to happen, is it? This is making the EC actions (in my personal opinion) a lot more questionable in all this. It was the overreaction and the emphasis of ‘One Hour’ that set the tone of mistrust, I wonder what else we will see over the coming week.

Leave a comment

Filed under Finance, IT, Law, Media, Military, Politics, Science

Tagged as Al-Qaeda, Asadollah Assadi, Australia, bloomberg, Brazil, Brian Fishman, British security commissioner, Canada, content, EC, ECB, EIB, Eu, European Investment Bank, Europol, Financial Times, Forbes, France, Germany, India, Iran, ISIS, Islamic State, Italy, Janet Yellen, Jean-Claude Juncker, Jihad, Julian King, Mario Draghi, Monika Bickert, Poland, Russia, Saudi Arabia, Social Media Facebook, Spain, Terrorist content, the Guardian, The Telegraph, The Times, Twitter, US Federal Reserve, Vice News, Yemen, Youtube

September 4, 2018 · 11:57

Democracy is dead

If there is one thing that the UK situation showed is the mere fact that not only is democracy dead, the question becomes has it even existed in the last 10 years? The fact that bullying and harassment are now the core uses of the media in facilitation towards power players (not even the political players) is at the heart of it all.

What started as an actual discussion became a trodden lane of smear campaigns and misstated innuendo. In the end a golden cage is still a prison, no matter how you slice it and even as the UK is all over the place, I do hope that they realise that they are about to become part of an additional 3 trillion in debt. The part that the media has refused to look into for the longest of times, the mindless spending by Mario Draghi and now a mere two hours ago we are confronted with “some economists argue that rapid technological development keeps a lid on prices, forcing central banks to exhaust their firepower fighting an economic paradigm shift, and leaving them with few tools for the next downturn“.

How does that relate?

Part of an issue I mentioned yesterday was (source: CNN) “Europe’s third biggest economy has suffered years of anaemic growth, high unemployment and budget deficits, while neighbours such as Germany and the U.K. have enjoyed a stronger recovery from the global financial crisis” at present the forecast is that the economy will rise by 0.2% less, giving a setting that is close to stagnant. In addition, even with the news from yesterday, we also now see: “Italian Economy Minister Giovanni Tria is pushing the parties in the governing coalition to keep next year’s budget deficit below 2 percent of output, sources close to the dossier said on Monday, lower than the party leaders have indicated so far“, as well as the part I mentioned last week as the article (at https://uk.reuters.com/article/uk-europe-view-friday/daily-briefing-italian-debt-yields-get-stretched-idUKKCN1LG0T2) was giving me “Fitch is due to provide the latest evaluation of Italy’s creditworthiness with national debt standing at 130 percent of GDP. The Italian-German bond yield spread is already at its highest since 2013 – a downgrade will widen it further and make Italy’s borrowing even more expensive“, there was an overall loss of faith, yet we are now treated to ““The actual rating wasn’t lowered, and anyone who follows Italy closely will know that a lowered outlook for the future should be taken with a grain of salt because so much of the political situation can change so quickly,” Alessandro Polli, an economic statistics researcher with Rome’s La Sapienza University” and when we add Bloomberg (at https://www.bloomberg.com/news/articles/2018-09-03/italian-bonds-get-a-respite-as-fitch-affirms-credit-rating) with: “Basically the politician with the greatest clout is saying Italy will remain within the 3 percent deficit band“, which is not only 1% deficit more, it is also an initial indication (indication mind you) that the 2% deficit marker is now more and more likely not the be a feasible one. But in all this, it would all rely on Germany and now we see the play, the EU and ECB are desperate to thwart UK democracy, because without it there is no euro, no Eurozone and no options remain and big business is willing to betray 65 million people to keep their cushy 7-8 figure income jobs, they are willing to do that at the drop of a hat, any hat.

The political players let the media be the facilitator for big business, first the banks, then tech companies and now the car industry. One by one fear mongering until the people got too scared and according to the Independent, 2.6 million people jumped ship and decided the swim to remain. So the new UK lyrics become ‘Ruled Brittannia, Brittania is the bitch! We shall never never ever trust in Fitch‘.

We get that to the setting of ‘Fitch ratings review gives reprieve to Italian govt bond yields‘ (source: Reuters). It is seen with: “Italian bond yields edged lower on Monday after Fitch left its credit rating unchanged at BBB, revising only its outlook to negative, though mixed news flow from senior ministers and manufacturing PMI data due later this morning could mean the rally is short-lived, analysts said” where we need to focus on ‘manufacturing PMI data due later this morning‘ which gives me that the rating was done ‘just in time‘ to avoid having to lower it, which implies to me that it was not a reprieve, merely the application of time management to force an upped rating. In that regards, when we see that and the UK realise that the EU barge cannot be stable, not with only one solid anchor, we get to see the equation where the UK becomes the force anchor to keep the EU dinghy from sinking on the spot. So as the industry will see ‘assurances’ of their value protection from the ECB. You see when we look at Section 9.4.5 of Part II of the AnaCredit Reporting Manual (this is about to become a massive leap of speculation on my side), we get to see:

“If the appraisal aims to estimate the spot value taking into consideration market conditions, then “market value” is reported; on the other hand if the appraisal aims to estimate the market value ignoring cyclical factors, then “long-term sustainable value” is reported”

Now consider that the UK is in Brexit and the Italian economy is rated down, when we now consider “APP holdings, Purchases of marketable debt instruments increase the Euro system holdings of such instruments and inject liquidity into the banking system“, we would see that under those conditions the entire ‘expanded asset purchase programme‘ would have to stop as per immediately and that is what the members of the ECB do not want to do, no matter how useless their exercise is and still seems to be regarded as (by critical outside minds). As I personally see it, the reported net acquisition of €24 billion a month, will need to stop before the current held holdings of €2.51 trillion might end up being regarded as dumped value, the setting of a ‘bad mortgage’ write-off. And do you think that this bad ‘mortgage’ is suddenly whisked away? Nope the outstanding amount becomes a taxpayer’s debt to deal with and without the UK the other players get a nightmare amount to deal with and that is what none of the 27 members want.

Now in all this I will be accused of comparing apples to oranges and that would be correct, yet what those people are (intentionally) forget to mention of illuminate that the ECB is a fruit vendor in all this. They are not the apple sales person or the banana (republic) sales vendor. In all this the ECB does not get to compartmentalise any of it. They bought 3,000,000,000 barrels of fruit at €1,000 each, so when some of these barrels contains rotten fruit, it becomes their loss, not the salesperson who they bought it from and as the barrels were unattended for the longest of times, more barrels and larger portions of every barrel become infected increasing loss over time to amounts too large to even contemplate. So, when the Italian shipper and the French shipper state: You bought it, it’s yours now; they will have no defence. In this it is the British supermarket that they need to buy some of these worthless goods or they go belly up and that is what they deserved in all this.

They should have sold the stock a year ago and stop purchasing those barrels of fruit and they are still buying junk fruit. And when we were treated to the earlier mentioned ‘manufacturing PMI data‘, when we see that it was reported down from 51.50 to 50.10, in the setting where highest was 59.00 and lowest was 48.00. So when we see the Trading Economics report and when we focus on that part and see the statement: “The reading pointed to the weakest pace of expansion in the manufacturing sector since a contraction in August 2016, as new orders fell for the first time in two years and output posted the first decline in over three years. In addition, employment growth was the weakest recorded in nearly two years and expectations slumped to the lowest since May 2013 amid concerns over future global trading conditions, particularly in relation to the US” is there any doubt on orchestration? This was done to stretch the game, not truly act on the reported value, if that was done the setting of ‘BBB’ could not have been maintained, it should have been dropped to ‘BBB-‘ (my speculated view). So whilst we think we are being told the truth, in my personal opinion, we are sold a bag of goods, because that is how the game is players and we are all being duped, just like in 2008, I would have thought that those players had learned their lesson, but apparently they did not and I truly believe that the UK needs to get out before that tidal wave hits them. When it does and they were still in that boat, they get to lose it, to drown just like the other players. So if all else fails, I hope that those players grow a set of gills, because they will need them and right quick at that point.

All this wheeling and dealing gives me the impression that the people are merely offer the choice between poor and destitute, I wonder if any of them can tell the difference from this point onwards. Oh, and if you think that I am kidding there, consider Greece that is under all that oversight. And only 12 hours ago, the Greeks decided to strand all the tourists on a strike. so as we see “Members of the union are reportedly seeking a 5 per cent increase for ferry crews, a request which they claim is long overdue as pay has remained static for eight years“, which now has two impacts. The first is that “affect around 180,000 people who have booked travel to and from some of Greece’s most popular tourist destinations“, who will optionally infect another 600,000 tourists not to consider Greece in 2019. In addition the fact that those people are demanding an additional 5%, because ‘pay has remained static for eight years‘, then those Greeks better wake up, because static incomes will be the cornerstone of their life for perhaps another 15 years. that is the long term effect of austerity, that is the impact of that massive a debt, so tax breaks are basically a thing of the past for them and the UK is still steering to a similar setting, that €3 trillion will make of that very clearly and it will over time affect all 27 member states to some degree, likely to Germany the most. In this, the Politician and environmentalist Nikos Chrysogelos has even more to deal with. the man is correct on all counts, yet until the Greeks are willing to strangle these dangers by installing Singaporean like methods (like a €500 fine for any environmental transgression) the tourists (and to some degree the people) will not change and the Greek islands will transform into an open sewer soon enough.

These are all issues that will impact the citizens of other member nations in some form or another; the impact of long term austerity and short term thinking. It will be about “some sustainable model of tourism” soon enough, but that also implies one thing. It implies that people will still be able to afford a vacation, because that group is actually shrinking and the economic upset that Europeans are currently facing makes that issue a non-option to at least some degree. That evidence was seen earlier with ‘forcing central banks to exhaust their firepower‘, so when that stagnation shifts to downturn the economic hurt will be on all over Western Europe and the ECB will have 1-2 options reserved for themselves and their ‘friends’; and the people in Europe? Well, who cared about them anyway?

So in all it is not merely the economy for the now in all this. The setting is also the backwash from the consequences we see in Saudi Arabia. Canada, Sweden and Germany are all losing business in Saudi Arabia. Let’s be honest, we see that Iran is their enemy; we see that there is more and more evidence that Iran is facilitating missiles for Yemen, who are then fired on Riyadh. All this whilst the EC nations are bending over backwards to keep a nuclear deal alive that is quite honestly not worth the paper it was printed on and they expect to rake in billions in Saudi Arabia as well, whilst criticising Saudi Arabia at almost every turn. So as I am contemplated (read fantasising) on “an $11 billion arms deal between Saudi Arabia and Canada may be scrapped“; and how I could optionally sell that deal to a few alternative players (for a 1% commission). Whilst at the same time we see the quote “To German news outlet Der Spiegel, an unidentified businessman said, “For Germans, the doors in Riyadh have suddenly been closed” here I see a few non-European options as well (the 1% commission still applies) and when I see “Saudi Arabia is Sweden’s fourth largest recipient of arms outside the EU with sale totals in 2014 reaching approximately $39 million“, I see an opportunity to consider talks to get that shifted to perhaps a ‘Northrop Grumman X-47A Pegasus‘ consideration and perhaps even more, once the abilities are confirmed. Of course for all the extra work I will be taking an additional 1% on top of the 1%, so in all this, the European Hypocrisy works well for me, providing that Wesley G. Bush is still taking my calls, or I will have to postpone that deal and start wining and dining Kathy Warden (at her expense, it is an emancipated world after all) and she might be hungry for the setting of an additional 200 million, especially as the doors to Sweden and Germany are closed. All economic settings that are clear to all and clearly visible to all, so in all that, how are we not seeing that there is an increasing realisation that economic stagnation is closer to mere millimetres away from an actual economic downturn.

All elements that will hit the UK one way or another, because if it took this little to get the economy down with the smallest of efforts on two EU nations by up to 1%, how unstable do you think that the EU economy was in the first place? You see, the ECB ‘forcing central banks to exhaust their firepower‘ is one without firepower and options, making it merely a logistic system administrating €3 trillion of debt. So how desperate do they need the UK and how dim sum is the view that being a ‘remain’ member will make their lives easier? When everyone around you says: ‘Stay with us, or else‘, how much does who need who in the end?

Consider the truth there, if it was such a bad deal for the UK and a good one for Europe, do you think that the bullying and harassment would have been this severe? Until the EU and the ECB stops facilitating for the large corporations, you need to realise that those ‘facilitating’ are merely ‘tools’ trying to get a ticket on the next gravy train and those rides always cost the taxpayer and most often way more than acceptable.

1 Comment

Filed under Finance, Media, Politics

Tagged as Alessandro Polli, AnaCredit Reporting Manual, APP holdings, bloomberg, Bremain, Brexit, Canada, Der Spiegel, ECB, Eu, French, Germany, Giovanni Tria, Greece, Iran, Italian Economy Minister Giovanni Tria, Italy, Kathy Warden, La Sapienza University, manufacturing PMI data, Mario Draghi, Nikos Chrysogelos, Northrop-Grumman, reuters, Riyadh, Sweden, UK, Wesley G. Bush, Yemen

August 29, 2018 · 12:59

Merely a week ago

It has been eight days since ‘A haircut before the guillotine‘, which can be found at https://lawlordtobe.com/2018/08/21/a-haircut-before-the-guillotine/. The article dealt like the one ABC gave us all about Greece and I think that it is nice that they finally came to the same conclusions, it only took them a week. Yet, the part that I never looked at (before now) s the part that ABC is giving. It is the setting that Italy is the most likely next country to add the fuel of life after the Euro. When we are treated to: “The warning signs are gathering: Government borrowing stands at 130 per cent of GDP, and bond yields have been rising, a sign of low confidence by financial markets which will make it more difficult for Rome to raise money by selling long-term sovereign debt“, yet unlike Greece and other players, they really do not have that much of faith in that muzzle called the EU and the ECB. The less popular and growing situation is offered with “it is also filled with ministers who are deeply distrustful of European institutions and regularly raise the possibility of pulling Italy out of the EU“, something Greece should have considered. In the setting where the Italians can float their currency during the seasons and get a much better return, lowering debt slightly faster is an option, one that is currently being discussed in Rome. What is also a setting is that Italy now has an example on when things go pear shaped, an advantage that Greece did not have. After that, ABC, of better stated Anne Bagamery gives us “many European analysts draw a straight line from the rise of Euroscepticism and nationalism generally — trends that led directly to Britain’s vote to leave the European Union next year — to the Greek bailout and other, similar rescue plans that followed the 2008 world financial crisis“. That is likely to be true, but the element that she ignores is that Mario Draghi was also a factor. What is more and more seen as a reckless, wrecking action by a second jumpstart to the economy, one that is still failing, but now the European members are well over 2.5 trillion Euro deeper in debt, so how is that playing out?

I am still of the mind that Mario Draghi and his membership into the elite 30 bank clubs enabled them to deals and advantages that are ethically an issue, perhaps even legally so. Yet there is no intervention, no investigation and in the end, the interest on 2.5 trillion dollars will have to go somewhere, does it not?

Then we get two sides, the first one is one I agree with. With: “Ms Merkel, at the time the most powerful head of government on the continent, pushed the notion that forcing the kind of budgetary discipline that had worked in Germany was the best way to bring spendthrift countries into line. A fervent European, Ms Merkel also felt austerity was the best way to preserve both the EU and the euro” we see a harsh reality, but when you look at Germany, their debt is way down (compared to what it was) and as such a few billion euros each year gets to be spend on infrastructure and not on interest payments, so that is a clear sign. In opposition we see: “Pierre Moscovici, the European commissioner for economic affairs, acknowledged in an interview last year with the Italian daily Corriere della Sera that the handling of Greece’s bailout program was “a scandal in terms of democratic processes”“.

That might optionally be the case, but how far was the democratic path used to misrepresent the numbers, cooking the books and fraudulently give rise to economic levels that never existed? How many of those Greek cooks actually were prosecuted and ended in prison? Show me that list please Pierre Moscovici, can you?

Now we get to the BS of the part and it is seen in “Economists have now had plenty of time to evaluate whether the decision to impose austerity measures was the wisest course — and, for the most part, the verdict is negative”. Is that so? You see, I stated that in 2013 and several economists stated that I did not have an economy degree (which is true) and as such, I could never comprehend the ‘complexities’ of such macroeconomics. they optionally had a point, was it not that my version and my calculations using my fingers and an abacus gave a result that was merely a year away from their results and I published mine 5 years ago, so in all that, it seems that these economical ‘experts’ are seemingly more about the preservation of the gravy train that they are on and a lot less on finding the setting of resolution that they were supposed to have and now that Italy is on the iExit path (or was that ILeave?), we see that ‘the verdict is negative‘ part, I reckon merely 5 years late in light of the degrees they have.

Finally we need to stop at the setting we see regarding Portugal. With the quote “Joao Borges de Assuncao, a professor at the Catolica Lisbon School of Business and Economics and a former economic adviser to the Portuguese government, said recently that Portugal’s recovery only really started when it ended austerity measures and invested in job creation to keep growth alive“. I cannot completely agree, even if that was a partial correct setting for Portugal. A setting when we consider that Portugal has a population of 11.2 million, about the size of Sweden, a mere 25% of Spain. In addition, Portugal got lucky with their cork. It supplies 50% of the global needs and that gives them a huge niche market and until China starts growing their cork forests in a serious way, Portugal will have an advantage there. In addition Portugal has a similar advantage with tungsten and lithium, with lithium battery needs at an all-time high, and unlikely to slow down for now, we see that 75% is in South America, meaning that Portugal cannot rely on their amounts, but it still makes for a nice additional sandwich with what they offer. All elements that they have and plenty of other European players do not, so Portugal has a small advantage, which is why I oppose the view of Joao Borges de Assuncao, not because the view is wrong, but in the current available options, with a much smaller population there is a benefit for Portugal and that is why the investments required would have been significantly lower, whilst the ROI would have been much easier to achieve. What works for Portugal is not likely to work in Spain and Italy to the degree it needs to, not whilst the Italian population is 600% of Portugal. The sales amount of Maserati’s and Ducati’s needed to offset that difference is slightly more than realistically possible.

I expected for the longest time that there was a much larger issue within Europe, no matter how ideological the setting was, the setting of a push for big business to get the exploitative advantage over small companies was too visible and now we see those same companies giving the UK such hassle. I wonder when the UK economy picks up and those players are learning that they are missing out on 68 million consumers, I wonder what marketing scheme they will try to get back into favour with those they tried to strongarm initially. We merely have to look at the Galileo satellite navigation system, and the setting that we see now to learn that the easiest option is to merely block the Galileo from accessing that part, which the UK would be allowed to do. When we see the setting of people using their car abroad (UK in EU vs EU in UK) we see that this stage will hurt the EU a lot more, and even as we see the need for a UK satnav system, the UK one will come, 68 million people implies 30 million cars in the very least and plenty of people are relying on the satnav, so the ones who have that in good order will have access to those consumers, in addition, as we might overlook the entire ‘due to be launched in 2020 with civilian and military variants, and requires 24 satellites in orbit to be operational‘, for the UK 2-3 is all that is required, so a national market whilst those satellites would also be able to provide media and other options, will benefit the UK greatly, that whilst most people are ‘kept’ in the dark regarding both “The Galileo system went live in December last year, providing initial services with a weak signal, having taken 17 years at more than triple the original budget“, as well as “The main causes of the malfunctions have been identified and measures have been put in place to reduce the possibility of further malfunctions of the satellites already in space” commission spokeswoman Lucia Caudet said.

ESA found after an investigation that its rubidium clocks had a faulty component that could cause a short circuit, according to European sources”, so even at 300% of the original costs, they still weren’t able to properly test the systems and the faulty components are an excellent piece of evidence. The fact that the EU has the larger setting of budget overrides on several grounds and when we consider the fact that when infrastructures and facilities take well over 300% of initially projected costs, we see a failing on too large a scale and no proper penalty setting is in place and is unlikely to ever get there. The UK has had its massive bungles too, but even in the national setting it would never have been to the degree that we see here. In addition, when we are treated to the setting of a project that some state costed 30 billion, for 30 satellites, the most simple of all calculations (admitting that they might be way off) is telling me that the pricing is incorrect from the very beginning. We can agree to a quote that is up in the air in several sources. When we see “It is estimated that a single satellite launch can range in cost from a low of about $50 million to a high of about $400 million“, I am willing to believe that, yet, when we see the application of 30 satellites, we see the need of a much larger scope of electronics, verification and channels, all this implies that such a setting should require multiple safeguards, and let’s not forget that all this was merely about the launch, so the hundreds of engineers, designers, programmers and testers are also part of those costs, the electronics that were designed, developed and build will take even more resources, so here I am in a setting where the lowest estimate is close to 1.3 billion each, and I am willing to accept that I lack plenty of knowledge, so even as I expected the cost to be closer to 15 billion, the fact that my estimate was 50% higher and still 100% short of the actual costs gives us the setting that the entire Galileo project was wrongly priced, wrongly designed and in the end still flawed.

Galileo satellite navigation system has a few more issues, flaws and weaknesses. That part was shown 12 years ago (at http://news.cornell.edu/stories/2006/07/cornell-sleuths-crack-secret-codes-europes-galileo-satellite) where we are treated to ““We were told that cracking the encryption of creative content, like music or a movie, is illegal, but the encryption used by a navigation signal is fair game,” said Psiaki. The upshot: The Europeans cannot copyright basic data about the physical world, even if the data are coming from a satellite that they built“, so 12 years ago basic ‘protection’ was negated by students, so in the end, this extremely expensive project, just how secure is it, and once we learn that even as it is really really hard to hack it, what happens, when we see the system being readjusted through a hack causing time clock issues? When that happens and inter satellite group messaging is no longer reliable or valid, how long until that system crashes itself from within? It might not seem to be hackable, but the satellites rely on an uplink and a downlink, once the element is there to cause clear miscommunication from the source towards the satellite, forcing a sequence of reboots might be enough to take alignment of these satellites away from one another, and in the end, the mess that this will cost? I wonder just how much the makers did not perceive from a system that had a negated security system for the better part of 12 years. I wonder what happens when they get the option to ask each satellite for a verification protocol from each of the other satellites. Do that for an hour and how many users will be confronted with the setting when they drive home and the SAT navigator tells them: “This location does not exist“.

When we get to that part, I wonder who in the EU will be suddenly on sick leave and cut all ties from a project that has already been projected as more than 300% more expensive. When we dig into that part what else will we find?

That is merely one of many settings that was shown in a whole host of EU applicable operations and in all that Italy has their options too, whether the decide to leave the EU cannot be predicted to any near decency, but in that, when we see that the Italians are equally barred from Galileo, we will see another part where the EU will have to pay back at least two nations for their part, how will that end?

I will let you decide that, just make sure you know how to drive home and do not rely on your satnav to the degree you expected it to be useful, on how far the Italian High Speed rail from Berlin to Palermo is when the ties are announced to be cut, because that too will impact the EU in a much larger part then expected. In that regard, how many people would have ever needed the train to get to Palermo anyway, is that not an interesting question? When we are confronted with “The cost of EU infrastructure development needs in order to match the demand for transport has been estimated at over €1.5 trillion for the period 2010-2030” and we realise that Palermo has 1.2 million people, so it is a sizeable city, but let’s be honest, spending 1.5 trillion to get there, what was Europe thinking?

When we take the accounts and the pulse of such investments, whilst the ROI will never ever be achieved (not even close), how much more wasteful spending is this EU throwing on people and their additional taxation?

Remember, you must repay what they have been spending and they have been spending a lot with the additional costs of all these gravy trains, so how much out of pocket will you and those around you be for the rest of your life?

Leave a comment

Filed under Finance, IT, Politics, Science

Tagged as ABC, Angela Merkel, Berlin, Catolica Lisbon School of Business and Economics, China, Cork, Corriere della Sera, ECB, Eu, Galileo, Galileo satellite navigation system, Greece, Italian High Speed rail, Italy, Joao Borges de Assuncao, Lithium, Lucia Caudet, Mario Draghi, Palermo, Pierre Moscovici, Psiaki

August 21, 2018 · 14:54

A haircut before the guillotine

That is how we sometimes see life. We are all dressed up, all ready, smooth shave and a decent look, all on route to the main event where we are the guest of honour at a dinner party hosted by Joseph-Ignace Guillotin. Yes, we are the person on the chopping block. When death is all you look forward to, the way getting there will mean the most to anyone.

So out comes the master of coiffure, to make sure that the shave and the haircut were done to levels of excellence that you never considered before. Master tailor Marc de Luca will come and see you to make sure that the suit is one that Versace will look at with utter envy, the people on Saville Row will look with utter amazement on just how perfect a suit can be, because you must look your best on route to that once in a life time dinner party with Joseph-Ignace Guillotin, all the elements mattered the most on this one day.

So there is the setting you see when we consider ‘EU says Greece can ‘finally turn the page’ as bailout ends‘. The article (at https://www.theguardian.com/world/2018/aug/20/eu-greece-bailout-ends-pierre-moscovici) gives us “Greece has turned the page to become “a normal” member of the single currency“. Yes in that regard it is nice to know that a mental health setting of ignorance when it comes to the economy, is still riding high with too many individuals. I mentioned it over 3 years ago in the article ‘Dress rehearsal (part 1)‘ (at https://lawlordtobe.com/2015/07/01/dress-rehearsal-part-1/), where I stated ““Greece would face an unsustainable level of debt by 2030 even if it signs up to the full package of tax and spending reforms demanded of it, according to unpublished documents compiled by its three main creditors“, the reason that I call it questionable, is because Greece is what I call a 3G nation, which means it will take three generations for this debt to become close to manageable. So, with that I imply that the debt is still a massive form of pressure in 2061, there is no escaping it“. That part we now see with “Greece has the highest government debt in the EU, 177% of gross domestic product, and is forecast to be repaying loans until 2060“. WOW! I was off by one year and that was me using my fingers and an abacus over three years ago. Now we see that it will be all done by 2060, which is actually not a certainty. I took a few setbacks in consideration that are likely to be missing here, so considering that this started 8 years ago, we see that in the end it will take another 42 years, making my ‘three generation‘ prediction spot on. Yet the good news is not yet done. When we consider that the debt is 177% of gross domestic product, the fact that youth unemployment remains at 43.6%, as well as a few setbacks, there is merely one stupid act of starting another bonds plan and it all goes south really really fast.

The first is that with “Athens will face more exacting checks than any other Eurozone member, so Brussels can monitor whether the government’s budgets are in line with EU stability and growth targets” Greece will still be bound by some factors. The setting is a given if Greece decided to try the Goldman Sachs strategy again, the future will start to look extremely dim again at that point, with little to no hope on resolving it ever. There will always be politicians that play the fast and loose card whenever they are in a pickle, which will soon thereafter become the ‘fast and lose‘ scenario, especially for the Greek population.

Even now we see the quote: “Many analysts believe it will take a decade before Greece returns to pre-crisis living standards following a slump in which its economy contracted by 25% and unemployment peaked at 28%“, I am not convinced that it will be that quick. It might be if serious investors can be found to pump up the Greek economy like a Google space, an Apple hub and an IBM data centre. Those steps will be a turn for the good for Greece, but without a really large player opening the field, Greece keeps on lagging behind and a decade will not be enough to set the economy back on track to the pre-crises degree stated. Furthermore, there is the consideration of “levels of extreme poverty jumped. The population has fallen by 3% because of emigration and a lower birth rate“, you see, the levels of extreme poverty also slows the recovery setting and the loss of population will not merely mean that there are less jobs required, it also means that a continuation of certain aspects can no longer happen. So the setting of parent to child implies that more and more businesses die over time lowering the GDP further, which in turn shoves the debt up by 5%-10% more than previous. So it is not the percentage, it is the €336,900,000,000 that is due its interest and that amount is not shifting merely due to the shifting GDP percentage. It is rising because 336 billion implies 6-9 billion euro of interest a year and with a population of less than 11 million, whilst we get the slightly over enthusiastic “By 2023 unemployment is forecast to fall to 14%“, yes, I’ll accept that when I see it. You see, last October it was 20.7 percent. This now give us that close to 2.5 million Greeks are not paying tax. So exactly how are they not merely getting the infrastructure paid for, but in addition to that pay for the 6-9 billion in annual interest? From my point of view the picture we are given is a rosy coloured setting of ‘Bull dung and grapes’, at which point the grapes are not that appetising anymore.

The final part is seen with “As a condition of getting debt relief, Athens agreed to the EU’s demand to run a budget surplus of 3.5% of GDP until 2022 and thereafter 2%. However, the International Monetary Fund, a co-funder of the bailouts, has long argued this goal is too onerous for a country that has endured years of belt-tightening“. That shows part of the imbalance, or merely the gross injustice to the Greek population. There is close to no way to live with the ‘a budget surplus of 3.5% of GDP until 2022‘, unless you cook the books that is, which is a purely personal speculated option. It merely seems more than an impossible task and agreeing towards demands that are unrealistic is just not acceptable and utterly inhumane.

Forbes is on my side in this. The article (at https://www.forbes.com/sites/francescoppola/2018/08/20/lessons-for-the-eurozone-from-the-greek-debt-crisis) gives us: “Fiscal austerity is on the menu for generations to come. Furthermore, if GDP takes a nosedive – as both business cycle theory and economic history tell us is almost certain to happen at some point during that time – further cuts will be necessary to meet primary surplus targets. In the light of this, the IMF has expressed serious reservation about the sustainability of Greek finances. If it is right, then the Greek crisis is not ended. It will be back with a vengeance in a decade or so“, I actually believe that ‘a decade or so‘, is a little optimistic. When we correct for Murphy (anything that can go wrong will go wrong), the tie line will shove the entire situation to the foreground by the year 2025.

The article is a really good read, mainly because it gives us in short the history on how it happened, which was essential in all this, because the danger of “in 2009 the Greek government lied about the true state of its finances, and that the pre-crisis boom had resulted in a fiscal deficit of 15% of GDP and debt/GDP of well over 100%” is a setting that is not unlikely to return in the 2023-2025 years, for a few reasons, especially when the Greeks are set in a stage of what is humanly called to be in a stage ‘without a pot to piss in‘. there will be overreactions and that is when things go from bad to worse and in that time, when there is still 35 years to go, a lot of people will re-enter new (read: even more harsh) levels of austerity.

So even when we think that the bailouts have ended, we also need to consider that this is academically correct, yet the truth is that we need to realise that in a little less than 16 months “the expensive debt to the International Monetary Fund, some 2.6 billion euros of which is due by the end of 2019” (source: Bloomberg), apart from the interest, posts like the maturing bonds come out to play and that is in this case well over 2.6 billion, also we need to consider ‘the interest Greece has to pay on bonds is still too high at about 4.2 percent‘, there we see that the additional pressures that Greece gets from refinancing all those bonds come at a huge cost. In addition to that part, we also need to notice ‘National Bank of Greece issued international bonds (XS1698932925) with a 2.75% coupon for EUR 750.0m maturing in 2020‘, so where will that money be coming from? We accept that seven hundred and fifty million Euros is not a lot when you say it fast, but in lieu of the outstanding debts, the budget surplus as well as bond maturities, all that whilst the economy is not on track and will not be anywhere near that in 2020, my prediction of a new stage of defaulting by 2025 might have been slightly too optimistic.

Personally I really hope that we can find a decent solution for Greece, a solution that allows for a growing economy because Greece is an awesome place and for the most Greeks are awesome (unless you’re German at that point you’re on your own). The good news is not there yet and I personally believe that some players are still stacking the cards in a way that suits them and not Greece. I am referring to the message: ‘S&P Global Ratings upgrades Foreign Currency LT credit rating of National Bank of Greece to “B-” from “CCC+”; outlook stable‘. It was given to the people on June 6th 2018. I personally do not believe it to be correct or better stated ‘justified’. Bloomberg gave us those goods an hour ago with: ‘Greek Bad Loans Are a Drag Even after Crisis Shrank Bank Sector‘. Basically an hour ago we were treated to “the problem she saw 12 years ago lingers on — Greece’s banks are still weighed down by bad loans. That’s making them cautious about new lending, which the country’s cratered economy needs to grow again after its European bailout ended on August 20th“. Basically hidden ghosts still rock the financial cadaver of Greece and there is more to come. Do you really think that ‘stable’ is the correct word? When we consider the S&P definitions we end up getting “An obligation rated ‘B’ is more vulnerable to non-payment than obligations rated ‘BB’, but the obligor currently has the capacity to meet its financial commitments on the obligation. Adverse business, financial, or economic conditions will likely impair the obligor’s capacity or willingness to meet its financial commitments on the obligation“, if the entire setting relies on ‘currently‘ I end up with the consideration that this could revert to a more negative stage by years end and then we see that the costs will increase whilst the maintenance of a budget surplus is close to a nil percent possibility at that point.

If we see that this is going on and the stage is set in several ways against Greece, who was the message ‘Greece can ‘finally turn the page’‘ for? Was it for the EU and European, was it for Greece (as an optional setting of false hope) or was this as the starting signal for Wall Street? In my mind the question becomes, who exactly was The European commissioner for economic and financial affairs, Pierre Moscovici catering for? Perhaps it is less complicated, perhaps he was merely acting as the maître des cérémonies for Joseph-Ignace Guillotin. To set the stage, where in the old days, executions by guillotine were a popular form of entertainment that attracted great crowds of spectators (their version of the Roman bread and games). Perhaps that is what is needed in Europe and for now the Greek government is unaware that their status has been elevated from underdog to the proverbial ‘guest of honour’.

Yet in all this, we need to be more then sceptical, there is much doubt and most of it based on common sense. We need to realise that the setting of Greece remains close to unacceptable, these levels of austerity will have to continue not for a decade, but for several decades, mainly because until the economy gets an actual boost, the options of budget surplus seem to be so unrealistic that whatever was signed was basically signed under duress. If the CIA and others stopped torturing a terrorist because the issue was too inhumane and the intelligence was never reliable, why would you transfer such levels of inhumane economic pressure to a European ally?

In the entire Greek economic setting that one part never ever made any sense to me.

1 Comment

Filed under Finance, Media, Politics, Science

Tagged as bloomberg, Eu, Forbes, Goldman Sachs, Greece, IMF, International Monetary Fund, Joseph-Ignace Guillotin, maître des cérémonies, Marc de Luca, Pierre Moscovici, S&P, Saville Row, Standard and Poors, the Guardian, Versace, Wall Street, XS1698932925

July 9, 2018 · 12:04

A mined pathway

There is news out there. It is coming from several sides making it slightly more reliable, yet the path that some seem to shine on is actually a very dangerous one. Now, let’s be straight, I am no fan of Iran, they overstepped the mark again and again and as such they are a genuine danger. Yet, the steps that we see contemplated is one that is slightly too dodgy as I see it. Don’t get me wrong, there are plenty of sanctions in place, there is all kinds of pressures on Iran and the direct threat that they pose to both the state of Israel and the Kingdom of Saudi Arabia is more than enough to make us all act against Iran, yet when we look at i24 News (at https://www.i24news.tv/en/news/international/179007-180708-mossad-chief-secretly-visited-washington-to-coordinate-on-iran-report), it is not the travel plans of Yossi Cohen, the El Jefe of Mossad that is an issue, it is the quote “held meetings with senior White House officials to discuss Iran” that needs more light. You see, a man like Yossi Cohen does not leave his operational bunker unless there is something that needs to be communicated directly. There have been all kinds of water-cooler chats on active operations (as some put it) in Iran to create more destabilisation. The Middle East Eye gives us “Is it the government’s policy to pursue regime change in Iran? Do they think the MEK actually have popular legitimacy in Iran?“, “This prospect moves the US and Iran closer to a direct military confrontation” from Forbes and “some segments of the economically driven protests are likely driven by Iran’s factional infighting over the direction of Iran’s policy, particularly within the context of elite disagreement on how to manage and mitigate the impact of US sanctions” from Nazanin Soroush at IHS Jane’s Intelligence Weekly. Now, realise that these three quotes are not on the same topic, yet the word of the week regarding Iran is ‘destabilisation‘. This is actually a lot more dangerous, it has the distinct danger of setting the people optionally against its own structures and the military tends to act rather negatively on that setting. Iran lost a lot of face and options with the Nuclear deal when the US backed out of it and even as the EU seems to be driven to keep it alive at the expense of every risk, the dangers are putting pressure in the wrong places and the visit from Yossi Cohen towards the US leaves us with the thought that more is coming. In this, the news that was given yesterday with the French shipping company CMA CGM pulling out of Iran is only increasing pressures. So even as Iran says it needs more help from Europe to keep alive the 2015 deal it worked out with world powers to curb its nuclear program, we need to consider that the Nuclear deal is unlikely to be salvaged unless the EU makes very large concessions making things even harder on the US-EU front. In this the prospect of being banned in the United States appears to have been enough to persuade some European companies to keep out and several others are now reconsidering the options that they have.

In all this, the news of internal actions remains on the table, yet I feel that this is not the best move to make. Part of the drive here is likely the news that had been around, in this former CIA officer Phil Giraldi gives us “what happens when Washington tries to sanction the Central Bank of China over business dealings with Iran — utter chaos on top of the already existing trade war!” This is a dangerous development and it is the most likely of settings that the US will want to avoid it, and some of the players are eager for a swift victory (yea right!), so here we have the dangers that the US will be pushing, or asking Mossad to contemplate to act directly in Iran, optionally in conjunction with CIA teams. If destabilisation is the operative word, there will be the implied dangers to all kinds of infrastructures (highly speculated by me here), and that is not the best of ideas. You see, even as there is Iranian opposition to both the clergy and military. A direct intervention in Iran, if proven could unite the people with the military and that is a dangerous step for both Israel, the US and Saudi Arabia. As there are internal conflicts Iran cannot and will not completely commit to the open setting of actions against the three nations. If the people unite the picture changes drastically almost immediate and that will most likely impact Saudi Arabia and Israel in the first instance, in addition to that Saudi Arabia would become a more visible target for Hezbollah overnight (with all the direct actions that follow), all issues that need to be avoided.

So how wrong am I?

I could be wrong, I honestly gave to some of the parts the setting that it was speculative, yet the quotes are from a collection of newscasts and news publications, the fact that some of it is not supported on an international setting needs scrutiny, yet the direct facts of additional pressures on Iran are clearly published making it much reliable. The additional fact that Haaretz released information that the IDF made their donations to an Iranian Air Force Base Near Homs, giving it loads of rubble is also clear indications that Israel is more and more active against Iran, yet there we must still consider that their actions remain still focussed on the Iranian presence in Syria (for now). Yet in all this, the setting is still not complete, there is evidence (a slight exaggeration) is pointing that Qatar is increasing its ties with US and Iran. Even as Haaretz gives us: “Treasury Secretary Steven Mnuchin sat next to the minister, Sheikh Mohammed bin Abdulrahman al-Thani. “You have been a great friend to the United States,” Mnuchin told Thani, praising Qatar for its cooperation on counter-terrorism financing efforts“, it must be looked into who instigated the Qatar-Iran ‘warming up’ party recently. If it is Iran then it is merely a tactic to increase policy gaps all over the Middle East, if it is Qatar, the issue becomes a larger problem. You see, just over a week ago, we saw the continuation (source: Arab News) through ‘Qatar will pay a price for its financial links with Iran‘, this is not news as it was going on for close to a year, yet if the previous setting was opened by Qatar, it implies that Saudi Arabia has a larger problem and even as the initial target might not be Saudi Arabia as the quote “Traditionally reliant on Dubai as a financial bridge to the outside world, Tehran is now looking to find new safe harbors to protect its financial interests, and Qatar is in its crosshairs. If Iran succeeds in building such a relationship with Qatar, it will be in a far stronger position to endure and evade US sanctions” implies, which makes operational and tactical sense, the secondary setting is that Iran could gain a more direct path of access to Saudi Arabia. This opens up Iranian settings towards Al Hofuf, Al Kharj and from there interference directly into Riyadh becomes (even though a far-fetched one) to Riyadh, all this at a time that Saudi Arabia should be focussing on Yemen and Hezbollah. It would force itself to instigate stronger internal security measures, all costing resources.

In the end

As some of this requires better access to data that goes beyond open source we need to learn (over time) if we are confronted with Iran playing a game of Fox and Rabbit, or is there more going on? Let’s not forget that Qatar has its own issues in the game, with Turkey in the mix on that level as well, the game is becoming much harder to read, especially when the intelligence setting of data is set to a much higher level than yours truly has access to. That part is not just seen in the January setting that Al Jazeera gave with ‘Qatar’s investment in Turkey exceeds $20bn, the second highest by any country‘ (at https://www.aljazeera.com/news/2017/10/turkey-qatar-strategic-alliance-171024133518768.html), the time lines and the weighting of the official and unofficial settings, these two matter as one does not merely invest $20 billion in a nation that has no real economic investment values, and when we consider that a large chunk of that party pie is about opening paths of facilitation the considerations we need to have tends to change by a fair bit. Even as the news was given in January, the setting of such an amount of money goes into a timeline of at least two years, so there is more to take notice of, especially now. So even as Al Jazeera makes a big thing on the import of milk and beef, the amount given could feed every Syrian refugee for close to three years, the math does not add up. there is however no telling what the actual settings are as the open books and the second balance need not be the same, and might not be set in covert needs, merely in non-taxable, or 100% deductibility reasoning, the mere legal application of tax avoidance could make all the difference.

Sometimes clarity of data tends to become murky, intentionally done for the mere reason as to avoid that supervillian (taxman) to gain access to the intended funds. If you doubt that reason, feel free to ask Ruth Porat (CFO Google) and Luca Maestri (CFO Apple) on the hardships that this supervillian (taxman) gives them.

Leave a comment

Filed under Finance, Media, Military, Politics

Tagged as Al Hofuf, Al Jazeera, Al Kharj, al-Thani, Central Bank of China, CIA, CMA CGM, Eu, France, Haaretz, i24 News, IDF, Iran, Israel, Jane's Intelligence Weekly, Luca Maestri, Mossad, Nazanin Soroush, Phil Giraldi, Qatar, Riyadh, Ruth Porat, Saudi Arabia, Sheikh Mohammed bin Abdulrahman al-Thani, Steven Mnuchin, Syria, Turkey, US sanctions, USA, Yossi Cohen

June 14, 2018 · 11:33

Why would we care?

New York is all up in sixes and sevens, even as they aren’t really confused, some are not seeing the steps that are following and at this point giving $65 billion for 21st Century Fox is not seen in the proper light. You see, Comcast has figured something out, it did so a little late (an assumption), but there is no replacement for experience I reckon. Yet, they are still on time to make the changes and it seems that this is the path they will be walking on. So when we see ‘Comcast launches $65bn bid to steal Murdoch’s Fox away from Disney‘, there are actually two parties to consider. The first one is Disney. Do they realise what they are walking away from? Do they realise the value they are letting go? Perhaps they do and they have decided not to walk that path, which is perfectly valid. The second is the path that Comcast is implied to be walking on. Is it the path that they are planning to hike on, or are they merely setting the path for facilitation and selling it in 6-7 years for no less than 300% of what it is now? Both perfectly valid steps and I wonder which trajectory is planned, because the shift is going to be massive.

To get to this, I will have to admit my own weakness here, because we all have filters and ignoring them is not only folly, it tends to be an anchor that never allows us to go forward. You see, in my view the bulk of the media is a collection of prostitutes. They cater in the first to their shareholders, then there stakeholders and lastly their advertisers. After that, if there are no clashes, the audience is given consideration. That has been the cornerstone of the media for at least 15 years. Media revolves around circulation, revenue and visibility, whatever is left is ‘pro’ reader, this is why you see the public ‘appeal’ to be so emotionally smitten, because when it is about emotion, we look away, we ignore or we agree. That is the setting we all face. So when a step like this is taken, it will be about the shareholders, which grows when the proper stakeholders are found, which now leads to advertising and visibility. Yet, how is this a given and why does it matters? The bottom dollar will forever be profit. Now from a business sense that is not something to argue with, this world can only work on the foundation of profit, we get that, yet newspapers and journalism should be about proper informing the people, and when did that stop? Nearly every paper has investigative journalism, the how many part is more interesting. I personally belief that Andrew Jennings might be one of the last great investigative journalists. It is the other side of the coin that we see ignored, it is the one that matters. The BBC (at https://www.bbc.co.uk/programmes/b06tkl9d) gives us: “Reporter Andrew Jennings has been investigating corruption in world football for the past 15 years“, the question we should ask is how long and how many parties have tried to stop this from becoming public, and how long did it take Andrew Jennings to finally win and this is just ONE issue. How many do not see the light of day? We look at the Microsoft licensing corruption scandal and we think it is a small thing. It is not, it was a lot larger. Here I have a memory that I cannot prove, it was in the newspapers in the Netherlands. On one day there was a small piece regarding the Buma/Stemra and the setting of accountancy reports on the overuse of Microsoft licenses in governments and municipality buildings and something on large penalty fees (it would have been astronomical). Two days later another piece was given that the matter had been resolved. The question becomes was it really? I believe that someone at Microsoft figured out that this was the one moment where on a national level a shift to Linux would have been a logical step, something Microsoft feared very very much. Yet the papers were utterly silent on many levels and true investigation never took place and after the second part, some large emotional piece would have followed.

That is the issue that I have seen and we all have seen these events, we merely wiped it from our minds as other issues mattered more (which is valid). So I have no grate faith (pun intended) into the events of ‘exposure‘ from the media. Here it is not about that part, but the parts that are to come. Comcast has figured out a few things and 21st Century Fox is essential to that. To see that picture, we need to look at another one, so it is a little more transparent. It also shows where IBM, Google, Apple and some telecom companies are tinkering now.

To see this we need to look at this first image and see what there is, it is all tag based, all data and all via mobile and wireless communication. Consider these elements; over 90% of car owners will have them: ‘Smart Mobility, Smart Parking and Traffic priority‘. Now consider the people who are not homeless: ‘Smart grids, Utility management, hose management like smart fridges, smart TV and data based entertainment (Netflix)‘ and all those having smart house devices running on what is currently labelled as Domotics, it adds up to Megabytes of data per household per day. There will be a run on that data from large supermarket to Netflix providers. Now consider the mix between Comcast and 21 Century Fox. Breaking news, new products and new solutions to issues you do not even realise in matters of eHealth, road (traffic) management and the EU set 5G Joint-Declarations in 2015, with Japan, China, Korea and Brazil. The entire Neom setup in Saudi Arabia gives way that they will soon want to join all this, or whoever facilitates for the Middle East and Saudi Arabia will. In all this with all this technology, America is not mentioned, is that not a little too strange? Consider that the given 5G vision is to give ‘Full commercial 5G infrastructure deployment after 2020‘ (expected 2020-2023).

With a 740 million people deployed, and all that data, do you really think the US is not wanting a slice of data that is three times the American population? This is no longer about billions, this will be about trillions, data will become the new corporate and governmental currency and all the larger players want to be on board. So is Disney on the moral high path, or are the requirements just too far from their own business scope? It is perhaps a much older setting that we see when it is about consumer versus supplier. We all want to consume milk, yet most of us are not in a setting where we can be the supplier of milk, having a cow on the 14^th floor of an apartment tends to be not too realistic in the end. We might think that it is early days, yet systems like that require large funds and years to get properly set towards the right approach for deployment and implementation. In this an American multinational mass media corporation would fit nicely in getting a chunk of that infrastructure resolved. consider a news media tagging all the watchers on data that passes them by and more importantly the data that they shy away from, it is a founding setting in growing a much larger AI, as every AI is founded on the data it has and more important the evolving data as interaction changes and in this 5G will have close to 20 times the options that 4G has now and in all this we will (for the most) merely blindly accept data used, given and ignored. We saw this earlier this year when we learned that “Facebook’s daily active user base in the U.S. and Canada fell for the first time ever in the fourth quarter, dropping to 184 million from 185 million in the previous quarter“, yet the quarter that followed the usage was back to 185 million users a day. So the people ended up being ‘very’ forgiving, it could be stated that they basically did not care. Knowing this setting where the bump on the largest social media data owner was a mere 0.5405%; how is this path anything but a winning path with an optional foundation of trillions in revenue? There is no way that the US, India, Russia and the commonwealth nations are not part of this. Perhaps not in some 5G Joint-Declarations, but they are there and the one thing Facebook clearly taught them was to be first, and that is what they are all fighting for. The question is who will set the stage by being ahead of schedule with the infrastructure in place and as I see it, Comcast is making an initial open move to get into this field right and quick. Did you think that Google was merely opening 6 data centres, each one large enough to service the European population for close to 10 years? And from the Wall Street journal we got: “Google’s parent company Alphabet is eyeing up a partnership with one of the world’s largest oil companies, Aramco, to aid in the erection of several data centres across the Middle Eastern kingdom“, if one should be large enough to service 2300% of the Saudi Arabian population for a decade, the word ‘several‘ should have been a clear indication that this is about something a lot larger. Did no one catch up on that small little detail?

In that case, I have a lovely bridge for sale, going cheap at $25 million with a great view of Balmain, first come, first serve, and all responsibilities will be transferred to you the new predilector at the moment of payment. #ASuckerIsBornEachMinute

Oh, and this is not me making some ‘this evil Google‘ statement, because they are not. Microsoft, IBM, and several others are all in that race; the AI is merely the front of something a lot larger. Especially when you realise that data in evolution (read: in real-time motion) is the foundation of its optional cognitive abilities. The data that is updated in real-time, that is the missing gem and 5G is the first setting where that is the set reality where it all becomes feasible.

So why would we care? We might not, but we should care because we are the foundation of all that IP and it will no longer be us. It gives value to the users and consumes, whilst those who are not are no longer deemed of any value, that is not the future, it is the near future and the founding steps for this becoming an actual reality is less than 60 months away.

In the end we might have merely cared too late, how is that for the obituary of any individual?

Leave a comment

Filed under Finance, IT, Media, Science

Tagged as 'Smart Mobility, 21st Century Fox, 5G, Andrew Jennings, Apple, Balmain, BBC, Brazil, Buma/Stemra, China, Comcast, Disney, domotics, Eu, Fox studios, google, IBM, Japan, Korea, Microsoft, NEOM, Saudi Arabia, Smart Parking

June 2, 2018 · 13:43

Cheese Pizza with Oregano

I love Pizza, I hardly ever get it, merely because the people here tend to rely on Domino’s and Pizza Hut and neither tends to be a true pizza (as I personally see it). As I walked through Sydney over the last week, it dawned on me just the massive lack of actual decent Pizza places in Sydney. It is almost like they are no longer in a sustainable environment. People got used to the cheap solutions two chains bring and they call it Pizza. All the people in the neighbourhood accepted it as the real deal and now, we forgot what true awesome Pizza is like. Now, I am a little off the wall here. I love my Cheese Pizza, with the 5 cheeses and loads of Oregano on top. So when I think Pizza, I always think of the Bravo Trattoria Pizza’s at Crow’s Nest, they are my favourite! Yet, is it about pizza, or the place, or what Pizza actually is? You see, it does matter when we consider the Financial Review (at https://www.afr.com/personal-finance/italys-debt-barely-sustainable-ubs-chief-economist-20180601-h10uun), we see here what I said weeks ago and last week to some degree. When we see “Italy’s debt-to-GDP ratio of 130 per cent is “borderline sustainable”, the UBS top economist says. There is a level of the primary budget surplus which keeps debt stable, and above which you can begin to pay down your obligations, Kapteyn explains. For Italy this figure is a surplus of 1.3 per cent of GDP, versus the actual surplus of 2 per cent. It’s a skinny buffer of around 0.8 percentage points which at current debt levels “doesn’t inspire confidence”, Kapteyn says“. That is merely the tip of the iceberg. The issue is not that it is Italy, it matters more that it is one of the big four. UK, France, Germany and Italy are the large economic suppliers of a 27 nation bloc where they basically represent well over 50% of the EU economy, the fact that they all are in deep debt does not help and the fact that the UK is getting out, or is that ‘was trying to get out‘? So when we see add the issues of the UK and now we see how the Italian issues are growing and France is not far behind. A 27 nation failure due to the inability to set proper budgets, deal with debt levels and add to that a failed economy jump start that is now close to 3 trillion Euro printed with no real prospects to pay for any of it. That revelation is why Italy seems to be vacating the union. The action by President Sergio Mattarella by rejecting the Eurosceptic finance minister and put in his place Giovanni Tria a pro-EU professor. This is perhaps the first setting where we see that voting is no longer an issue for any government, the holier than thou setting of protecting the Euro and the EU against all odds, whilst those in the EU commissions are massively overpaid is setting the foundation of a dangerous mindset. The issue that the AFR is bringing to light is “markets are not pricing in the risk of an Italian exit, they are repricing the risk of a Italian default“. I always rated the Iexit (aka iLeave) setting very low, the two populist parties in charge was not that realistic in 2016 and when Marine Le Pen was ‘surpassed’ by a former investment funds manager we were all wondering what would come next and I thought it would lower the chances of the populists in Italy. And the news is not getting any better. We see that with “The European economy hit a wall over the final months of last year, with growth dropping from a quarterly growth rate of 0.7 per cent to more like 0.4 per cent. Economists are unclear of the reasons for the slowdown, but broadly believed the European economy would quickly rebound“, the issue I personally see is ‘broadly believed the European economy would quickly rebound‘, not the slowdown. You see there is no evidence that there is an actual quick rebound. There is every chance that there will be a rebound, but it will not be quick. The fact that these so called experts are all thumbs when it comes to their forecasting and with 0.3% unaccounted for, we can see that they are in the dark or playing the bad news cycle. I personally believe it to be the second one. And the Italian issues are increasing. Not merely the debt settings, it is a changed political landscape. Even as Paolo Savona was replaced by Giovanni Tria, there is still “Mr Di Maio will be vice-premier and minister for labour and economic development, including trade policy. Matteo Salvini, head of the League, will also be vice-premier and interior minister in charge of immigration“. This we got from the Financial Times (at https://www.ft.com/content/79cf905c-64a8-11e8-90c2-9563a0613e56). This duo is going to be a lot more important than even I initially thought. They now have a handle on labour economic development and immigration will see larger changes. There is no way to predict whether that is good or bad. If we listen to people like George Soros we are instantly rejecting liberalism, because it is easy to be a liberalist when you are a multi billionaire, yet he had no issues to short sell US$10 billion worth of Pound sterling, earning a billion in the process during the 1992 Black Wednesday UK currency crisis. He did nothing wrong, he played the system when he could and make a billion. Things like that never go away and he must regard the EU zone as a very profitable short sell opportunity, which makes whatever he is trying to do dangerous, so in that light all his settings for “Best for Britain pushes for second referendum on Theresa May’s deal with EU“, a cause he is backing is very dangerous. In this by pushing the UK away from Brexit, the pressure on Italy decreases. The dangers become that irresponsible spending in the big four can go on for several more years and there is no way to control the ECB and their puppet masters. Unelected people deciding on the descent of financial futures in 27 nations that is how I personally see it. You can agree or disagree, yet ask yourself when was the last time that any European got a decent explanation on who of how the 3 trillion euro spend was going to be dealt with? You see over a decade in an economic setting that is close to the late 90’s, whilst keeping strict austerity in play all over Europe. There is quite literally no way that this will happen, because politicians will adjust their policy towards any speculative proclaimer of ‘the European economy would quickly rebound‘ economists, whilst not prosecuting them when they get it wrong (merely because making any claim of expectation is not a crime, is it?). A setting that the people have no chance of winning, hell, they won’t ever be able to break even on this. This shows that Brexit will be a hard, but the better way to go. When billionaires start proclaiming how bad it is and how ‘we all’ can get a better deal that is when you become afraid for your life and that is what is at stake. And we see this in the Australian Financial Review with ““creeping into the market”, Kapteyn says – “a potentially dangerous one”. After the glory days of 2017 in which investors basked in a globally synchronised upswing, markets are now faced with the potential return of the two-speed world economy: the US vs the rest“, so when we get “America’s economy is growing around 3.5 per cent; some independent analysts estimate growth as fast as 4 per cent. Europe is “at best” growing by 2 per cent“, that shows the dangers, because as George Soros is getting the winnings, the other players do not, from my point of view it is a form of leeching, leeching Europe dry for the term of a generation or better. You see again it is a personal view, it is why Best for Britain is getting the support, it is about delaying Brexit at the very least for as long as possible, merely because it stops the game people like George Soros are likely to be playing and when that stops Europe can start bringing things about, hopefully for the better, especially as the ECB will be forced to print money for all kinds of dubious reasons, dubious because kick-starting the economy after you printed 3 trillion to try it twice is just ridiculous, that money has to be paid back at some point and everyone is in denial about the latter part.

Yet this is still about Italy, not the UK. You see, Italians want what is best for Italy and I am fine with that, I believe in a healthy sense of national pride. Yet with “Italy’s debt-to-GDP ratio of 130 per cent is ‘borderline sustainable’” they are facing an ugly truth, Italy needs to face 5-15 years of Austerity, yet with the ECB trying to economically equalise Europe, at the cost of the big four, so it amounts to Italy trying on top of an economy for 60 million Italians, whilst they are weighted with invoices for close to 250 million Europeans who can’t be bothered to get their house in order. it amounts to giving an addicted gambler $500 whilst they are only allowed to use $10 for gambling, you tell me how long it takes for things to go really wrong, and that is pretty much a given on this situation. It was seen in the Netherlands 2012 and 2013, and now we see, when we look at the Dutch government statements with in September 2017 we see “The economy will grow by 3.3% in 2017 and a projected 2.5% in 2018“, we see the EU commission giving the Netherlands a ‘mere’ 3.2% last month for that same timespan. Now the 0.1% is actually pretty good, but it is still dangerous when it is a 0.1% in Italy, the issue is seen when we see that the Netherlands has a 65% debt level against Italy at 130% of GDP, and the Dutch are actually in a much better position, so the 0.1% is no actual pain level. Portugal, Spain, Greece, Belgium and Italy all have debt levels well over 100% of GDP, several other nations are somewhere between 60% and 80% of GDP, whilst France is at 99.8%. It is the debt levels that are excellent for banks and not so good for the people. You see, when the big four are required to pay €254 billion in interest each year and that is just the large 4, how do you think that this gets paid for? A decade of inability to set a proper budget and all this is before we consider the €3,000 billion that the ECB printed for what they call Quantative Easing. That is what Italy needs to get away from and at 135% they have the hardest job of all. So when you see that all that money goes all to the banks, short sold loans that they never had the money for to pay for can you see just how dangerous the George Soros setting is in all this? It all impacts Italy to some degree. These are not merely the facts; there is also presentation, representation and misrepresentation. The issue is in the Australian Review, it is the view of Arend Kapteyn. Yet where is he at when he gives us “We are only now at the beginning to find out how responsible or irresponsible [the new coalition government] are going to be on the fiscal side“, you see, the setting then becomes what is irresponsible? Being not pro Eurozone, being forced to default whilst the alternatives are just too unacceptable for the Italian people? So is he the pro greed setting, or the pro solution setting, because with such debt levels we can almost unanimously accept that these two choices are mutually exclusive. The most interesting political part is that Enzo Moavero Milanesi is now Minister of Foreign Affairs. I would have thought that the populists wanted that part for themselves, the fact that this post is now with an Italian independent is an interesting choice, if the populists can work with this setting and use it to maximise their economy by setting new option and opportunities, Italy gets an optional path where minimised immigration and maximised economy could have a setting where the Italian unemployment rates could fall to a number below 10% over the next 24 months (highly speculative on my side). If they pull that off, the entire euro sceptic setting could grow a lot faster than would have been possible with Paolo Savona in the mix.

No matter how you slice the Pizza, the factual and actual quality Italian dish is under massive amounts of pressure on several sides and any Italian thinking that their life will get better in the short run is just gobbling down a [Unnamed Franchise] Pizza, bland food that look like a UFO and tastes not as great. The fact is that like Germany did earlier this decade, Italy will know 5-10 years of hardship, yet when persevered Italy could have an actual growing economy for a much longer time, something to look forward to (if you are Italian). Can this government pull it off? That is hard to say because it has been shown that the actions of the ECB are close to non-stoppable and that will still impacts the bottom line. It is good for America and George Soros in the short term, yet after that they will not care and Europe will not be going anywhere ever soon. That danger is just ignored all over the place. Just 2 days ago the Financial Times also gave us “There are still two weeks to go before Riga, but naming an end date for QE right now would be like the ECB shooting itself in the Italian boot,” said Carsten Brzeski, economist at ING-DiBa. “The Italian situation has tilted the balance towards the doves [and] clearly calls for the ECB to keep its options open and even to make clear that they will extend QE at least until December” (at https://www.ft.com/content/dd6b5d70-6413-11e8-90c2-9563a0613e56), which is already an extension of well over a year. so when we see “The ECB has pledged to reinvest an average of €15bn a month over the first four months of next year, using the proceeds of government bonds bought under QE that have now matured” in that same article, we need to consider ‘bonds that have now matured‘, so that danger is seen in the Spanish setting where we see from some sources: “Spain will have refinancing requirements that exceed €300 billion per annum before 2022. In 2018, 41.2 billion euro, in 2019, 82.4, in 2020 83.9 and in 2021 58.5 billion euro, with 60.4 billion maturing in 2022“, so this fiscal year Spain will be required to find €41 billion, or increase taxes or cut services, and it will be twice that amount next year around, so how exactly is Spain in a setting to get the economy back whilst the debts are rising beyond normal control? Italy faces “84 billion euro maturities in 2018, 161 billion in 2019, 164 billion in 2020 and 172.5 billion euro in 2021” do the Italian people know that they are in such deep and hot waters? I wonder, and when they get confronted with that part of the bad news cycle, what will the previous and opposition then proclaim? I wonder if we will see true honest coverage on that blame game. I will order a decent Pizza to watch that unfold, because there are merely the two larger players in the EU-debt zone bloc confronted with the hardships that will hit them hard. Pushing these debts forward is just not a workable solution, not when the debt exceeded 130% of GDP, if you doubt my words, just talk to the average Greek in Athens and ask him how his quality of life is nowadays.

So as you wanted that your slice of life included a slice of pizza, consider the 99% in Italy who soon face the reality that they are no longer able to afford that for a long time to come.

1 Comment

Filed under Finance, Media, Politics

Tagged as Arend Kapteyn, Australian Financial Review, Belgium, Best for Britain, Bravo Trattoria, Brexit, Carsten Brzeski, Di Maio, ECB, Enzo Moavero Milanesi, Eu, Financial Review, Financial Times, France, George Soros, Germany, Giovanni Tria, Government Bonds, Greece, Iexit, ING-DiBa, Italy, Marine Le Pen, Mario Draghi, Matteo Salvini, Paolo Savona, Portugal, President Sergio Mattarella, Quantative Easing, Spain, Theresa May, UK

Tag Archives: Eu

Recent Posts

Archives