Tag Archives: Foxnews

The election continues

You might think that the elections are over, but they are not. It will not change the outcome, so I am not here to scare you or put undue pressure on you if you are in the democratic camp. Everyone started to celebrate, there was dancing in the street, never before was a president so unpopular that he is getting hounded in the streets, but what about the votes? You see the results of Georgia and North Carolina are still outstanding and if I am correct, there represent 31 electoral votes, it is not enough for President Trump to win, but the setting is that if he gets both, the difference is too small and a recount of Arizona and Wisconsin will turn it all around. The 10 of Wisconsin and the 11 of Arizona would be enough, when we see Arizona: Biden leads by .6 percentage points (98% reporting) and Wisconsin: Biden wins by .6 percentage points (99% reporting) source: CNN, we see that there could be enough to start a recount. Even as a Republican, I do not want President Trump a second term, he did enough damage for the USA to suffer close to a decade, who wants that? I do not, and many others feel the same, in light of the 99% for the two states we have been seeing for two days, you all need to wake up and you need to wake u fast. Skinning the bear before you kill the bear is one of the most dangerous plays to make. 

My view of the danger is seen when we consider North Carolina: Trump leads by 1.4 percentage points (98% reporting), even the 2% is highly unlikely to topple the stage and as such we see that President Trump would gain 15 votes. That difference seems to high, but a recount not in favour of President elect Biden changes it by another 21 votes, giving President Trump 36 votes, this is not fear mongering, this is a fatal danger the American people face, so relaxing whilst Georgia is known is the mot dangerous part in all this and lets face it, the recount for Ariana and Wisconsin have not been called, but you forget that the Republican Party is allowed to demand a recount, and that I when the stage gets dicey to say the least.

So when I see ‘Biden era begins, but Trump fights on in his own world’ source: the Guardian, I wonder if anyone has seen the danger the looms, in a stage where the difference in a state with 3,100,000 registered votes gives us less than 15,000 and that is if all districts are even, which they are not, in addition we saw yesterday ‘A possible Wisconsin recount: How would it compare to 2016?’ (Source: FoxNews), so make all the fun of FoxNews you like, but if the happens, there is a small chance that we are at 50% of overturning an election, good luck with the next 4 years at that point, so everyone relaxing whilst the endgame is still in play is perhaps one of the dumbest things you can do. Also consider that Wisconsin is showing to be largely Republican, President Trump had most of the state and Biden won by a mere 25,000 votes, the two districts he got were Madison and Kenosha, you still feel safe and secure? 


A recount could change it, and recounts are a given when the win is too small, but can be demanded by ether party and Trump is anting a recount, bet your horses (Napoleon and Sprout) on that. So whilst I am one to enjoy a meme or to in a stage where the end result is not final, is just ludicrous. So when we consider the Guardian giving us ‘Trump fights on in his own world’, I wonder if they realise the hazard everyone is still in and when that setting explodes in your face, good luck getting the Trump Administration doing anything for you at all. 

Remember, Georgia might seem all for Biden, but the difference is a mere 13,000 votes, a recount is pretty much a given and 1% is still to be counted. So let’s not drink the bubbly yet, a victory drink the shows to be a loss is really the ultimate form of sour grapes.

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You’re useless and you know it

Yup, quite the opening headline and  would like to tell the reader the it is about him or her, but no such luck, the headline (as is) can only be given to the most useless of useless, the US Senate. Yup, as some voices stated in the past, the US has fruits (US Congress) and nuts (US Senate) and there we sit in the middle of the tutti frutti of the dance floor, one might almost invite Madonna to come over and add a little spice to the mixture.

Yet Reuters who gives us (at https://www.reuters.com/article/us-usa-senate-tech/senate-panel-approves-sending-subpoenas-to-ceos-of-twitter-facebook-google-idUSKBN26M6FA) the headline ‘Senate panel approves sending subpoenas to CEOs of Twitter, Facebook, Google’, with the quote “The U.S. Senate Commerce Committee on Thursday unanimously voted to approve a plan to subpoena chief executives of Twitter, Alphabet’s Google and Facebook for a hearing likely to be held before the election on a prized legal immunity enjoyed by internet companies”, We can go in every direction possible, but lets start with “passed into law as part of the Communications Decency Act (CDA) of 1996 (a common name for Title V of the Telecommunications Act of 1996), formally codified as Section 230 of the Communications Act of 1934 at 47 U.S.C. § 230. Section 230 generally provides immunity for website publishers from third-party content”, In this we see two elements, the first being that in 1996 there was no Google, no Twitter and no Facebook, in the second on larger beneficiary was the online presence of FoxNews, Yahoo and lets face it as I personally see it, Microsoft who started part of the mess we have now. 

To invoke what I did (the useless part), it is important to see “After passage of the Telecommunications Act, the CDA was challenged in courts and ruled by the Supreme Court in Reno v. American Civil Liberties Union (1997) to be partially unconstitutional, leaving the Section 230 provisions in place. Since then, several legal challenges have validated the constitutionality of Section 230”, in this Justice John Paul Stevens (Supreme Court) wrote in June 1997: “We are persuaded that the CDA lacks the precision that the First Amendment requires when a statute regulates the content of speech. In order to deny minors access to potentially harmful speech, the CDA effectively suppresses a large amount of speech that adults have a constitutional right to receive and to address to one another. That burden on adult speech is unacceptable if less restrictive alternatives would be at least as effective in achieving the legitimate purpose that the statute was enacted to serve. … It is true that we have repeatedly recognized the governmental interest in protecting children from harmful materials. But that interest does not justify an unnecessarily broad suppression of speech addressed to adults. As we have explained, the Government may not “reduc[e] the adult population … to … only what is fit for children.””, as such how stupid does a US Senator tend to be? It passed the Supreme court, it passed a few stations over the term of 20 years and optional alleged beneficiaries (Google, Facebook, Twitter) are called into a Senate hearing? Some sources even state ‘Letting Platforms Decide What Content To Facilitate Is What Makes Section 230 Work’, the latter one is up for debate, but the setting of section 230 is not, it is a legal thing, so why would someone set the stage for a hearing the is basically pointless set the stage? To get a few free dinners and perhaps tax deductibility? I do not know, I merely ask.

The setting of a stage 40 days before election, is the current view and when we see “top Democrat Maria Cantwell, who opposed the move last week, saying she was against using “the committee’s serious subpoena power for a partisan effort 40 days before an election,” changed her mind and voted to approve the move” I wonder what this really is, because as I see it, it has nothing to do with big tech, and optionally section 230 is also not in play, but what is? There is the optional quote given “Republican President Donald Trump has made holding tech companies accountable for allegedly stifling conservative voices a theme of his administration. As a result, calls for a reform of Section 230 have been intensifying ahead of the elections, but there is little chance of approval by Congress this year”, yet optional settings of “stifling conservative voice” would not change that, this is about intentional hurting facilitation, changing the premise of free expression, the moment big tech is held responsible, no opinion is heard and the anti-Trump (those who highlight stupidity) is seen nearly everywhere, as such, President Trump needs every amount he can get. I do not think that this is the right path and more important changing law on this scale to bake (not make) awareness of something set almost in stone for 20 years does not help. 

In this I want to extend my friendliness to give a shout to the largest part of the problem, mainly Republican Senator Roger Wicker, even s he gives us “After extending an invite to these executives, I regret that they have again declined to participate and answer questions about issues that are so visible and urgent to the American people”, I merely wonder if he has any clue who the American people are. This train of thought is seen as Politico gives us “under the newly unveiled Online Freedom and Viewpoint Diversity Act, the legal shield would protect the companies only when they take down specific types of content, including material “promoting terrorism” or which promotes “self-harm” or is otherwise illegal”, as such, when was there an upside when we consider ‘specific types on content’, as I see it it the setting towards a biased filter of what constitutes free speech and freedom of expression. As such the simple question becomes: ‘Who has seen S.4534 – Online Freedom and Viewpoint Diversity Act? Deputy Counsel Elizabeth Banker did and gives us “Section 230’s otherwise objectionable clause underpins crucial content moderation efforts that make their platforms safer for everyone. Eliminating that clause will make it harder, not easier, for online services to remove content like misinformation, platform manipulation, or bullying that’s neither illegal nor in the bill’s new description of allowable moderation. This bill would also hamper platforms from adapting to future moderation challenges.“We also have serious First Amendment concerns with this bill. This bill would limit the ability of private online platforms and services, including small forums for schools, churches, and local sports leagues, to set and enforce rules for their communities.””, a direct powerful view given on September 8th (at https://internetassociation.org/news/statement-in-response-to-the-introduction-of-the-online-freedom-and-viewpoint-diversity-act/), as such we takeaway “Eliminating that clause will make it harder, not easier, for online services to remove content like misinformation, platform manipulation, or bullying” does this constitute the idea that the speculated biggest bully in America wants a free pass? And there are also “serious First Amendment concerns” which cannot be ignored. 

When we see this level of issues from the very beginning, how stupid is any senator participating in this, and when we demand under freedom of information their names and tell people that this lit constitutes a list of people attacking free speech, how happy will they be? There is of course the issue of the elected Democrat from the state of Washington Maria Cantwell, I wonder what she has to say for herself, especially it he hearing happens before the elections, I reckon that President Elect Biden will not have too much need for her, but that is merely my speculation.

 

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Using the limelight

It all started a few days ago and for the most I kept you all informed. The latest news was in my possession for well over an hour. I waited because I wanted to see how the others were reacting. And I was not disappointed, they did exactly what I expected, basically, they did nothing.

It all started with ‘Saudi Arabia says it took down ‘terrorist cell’ trained by Iran’ (at https://www.aljazeera.com/news/2020/9/29/saudi-arabia-says-it-took-down-terrorist-cell-trained-by-iran), so should we say it is real or not? It is a fair question to have, yet the quote “Saudi Arabia says it has taken down a “terrorist cell” that had received training from Iran’s Revolutionary Guards, arresting 10 people and seizing weapons and explosives”, leaves me with the setting that this is factual. We are also given “Among the items seized were improvised explosive devices (IEDs), dozens of stun guns, kilos of gunpowder and a variety of rifles and pistols, according to the statement. It did not say where last week’s raid or arrests were carried out”, yet the western media has nothing. Not the BBC, not Reuters, not European news offices, and not FoxNews. It seems to me that Iran is given an option to get away with any action that is not set in America or Europe. And this is where we get the larger issue, the news is filtering what they think we need to know, as such we see a totally destabilised view of what is going on. 

This news matters because it gives strength to something else I stated, which was speculative at the time. I speculated that someone was painting the Aramco targets so that the drones would be more effective. These 10 men could have done just that. The arrest off the 10 men does not make my setting any less speculative. It does however open a larger stage, the news was avoiding a lot of what happened, eager to use ‘speculative’ and ‘alleged’, which is not unacceptable, yet it sets the stage that the western media is optionally complicit is setting a stage that is not part of what happened (like the Khashoggi disappearance). We see even the UN side with Turkey (where the most incarcerated journalists in history are), blatant statements even as there is no evidence is supporting any of it. 

So in this we have a much larger guilt, we are part of the problem, the media is filtering what is happening and no excuse makes up for that. It goes beyond the media, there is some indication that Google and the social media are part of this. Google calls them omitted results, social media merely hides the events on the timeline altering most results and chronological results, the last part is speculative, but the seems to be happening.

Why does this matter?

The UK, US and EU have been throwing the ‘terrorist’ word at us for the longest time, and we merely had to swallow it, now that there are additional indications that Iran is part of the problem we are left in the dark. The Saudi government gives us ““The competent authorities will conduct investigations with all those arrested to find out more information about their activities and the persons connected to them in the kingdom and abroad,” the statement read”, yet I wonder if the is enough, I wonder how much shielding Iran is receiving, Yemen and the Houthi actions made it clear that this was happening, now we are set in a stage where shielding is a lot larger making the media less reliable, I wonder who they are working for, because as I personally see it, it is not the advertisers. This all does not make the 10 men guilty, but it sets a stage of questions that most do not want to entertain, what is Iran actually up to?

 

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17 or 70 trillion?

Even though we see so many ‘stories’ on how well the US is doing, we must ask ourselves on what value these numbers are trying to convince us of.

The thoughts I am about to phrase started a little after the following had been released (at http://blogs.marketwatch.com/capitolreport/2014/06/06/standard-poors-is-concerned-about-the-u-s-debt-burden/). “Standard & Poor’s Ratings Services put out research Friday confirming the AA+ rating of the U.S.“, so the US has dropped a notch on the credibility scale. This in itself should not be a reason for direct concern. The one part that does worry is that S&P was the only one doing this. The other part we should notice is the quote “The federal debt was $16.1 trillion at the end of fiscal year 2012, according to the Government Accountability office.” why are we not seeing a 2013 number, which according to some is over 17 trillion? How interesting is it to see the numbers game whilst the numbers quoted are not up to date?

The next part is the article from Bloomberg on April 29th 2014. Here we see the following “The drop in net marketable debt will be $78 billion in the April-June period, $38 billion more than the pay down projected three months ago, with an end-of-June cash balance of $130 billion, the Treasury said today in Washington. The improvement will be short lived — net borrowing of $169 billion is projected next quarter, with $130 billion in cash Sept. 30th“. Can anyone see the issue I have with this? The debt of well over 17,000 billion is getting met with a quarterly pay down of less than 0.4588%. How is this progress and even though we see that the US still has a high credit score, is the likelihood of a continued credit score even realistic?

That part can be seen in the Market watch quote “We believe that renewed debate over the debt ceiling could resume after the midterm elections in November 2014 under certain scenarios. While we expect the discussions about the debt ceiling to be ultimately resolved as they have been, we still see risks that these debates entail.” So, not only is there no solution to the current debt levels, the chance of any serious solutions occurring within this current administration is close to zero, which means that the next administration will inherit a debt closer to 20 trillion. I do find the headline about ‘US debt level concerns‘ hilarious. Many with me had raised these dangers for well over 2 years and now as the game is up, some are ‘raising’ concerns, whilst those in charge and those on the watchdogs of economy had long known that any level of lowering the debt had been a mere myth for over 2 years.

There are of course other views. One is from Chad Stone who wrote in US News (at http://www.usnews.com/opinion/economic-intelligence/2014/05/16/too-much-deficit-and-debt-reduction-too-soon-will-wreck-the-recovery) “now about $17.5 trillion, found on the ‘debt clocks’ that are so popular with debt hysterics. Gross debt (and its close cousin, ‘debt subject to limit’) is debt held by the public plus debt internal to the government“. This is fair enough, yet there is no information, not even any indication when this debt will start to lower. There is another side to consider. When we look at the IRS data book (at http://www.irs.gov/pub/irs-soi/13databk.pdf), consider that the IRS collected a net value of taxation of 2.4 trillion dollars. A slightly more accurate number is 2,490 billion.

When we consider all the numbers thrown at us, like the ‘% of the GDP’ and so on, even if we accept that the 17 trillion dollars debt is held on multiple level, compared to what the IRS collects, we see a number that reflects the tax collected, compared to the total debt. The US gets through taxation a mere 14% of where the debt is at. How is any of that realistic? So, the total collected taxation, before any other cost is taken into account (like paying government staff and utilities), it only amounts to 14%, after all that is done 0.1% is left if the US government gets a fitting budget (something that has not been achieved since president Clinton was in office).

My issue is not just with the US debt levels, it is also about the ‘blasé’ approach economists are throwing at the people stating that things are not that bad and that it will all work out. That part is a figment of THEIR imagination, because for things to resolve, actions must be taken and none are getting taken at present (or in the near future for that matter). My biggest issue with the Article of Chad Stone is seen at the end. His quote “Lowering the debt ratio comes at a cost, not only risking the recovery if it’s done too fast but also in burdening businesses and households with larger spending cuts, higher taxes or both to stabilize the debt ratio“. There is truth in that statement, yet the issue that the money should have NEVER been spent is an issue that is ignored. The culprits of this dangerous endeavour are not named, not held accountable and many of them walked away with millions in bonuses.

We are however nowhere near the end of this debacle. The articles give another view on the matter. An article was published in 2013 stating an entirely different matter of debt. The REAL total debt is set at 70 trillion (at http://www.foxnews.com/politics/2013/08/15/california-economist-says-real-us-debt-70-trillion-not-16-trillion-government/). The quote that matters is “Hamilton believes the government is miscalculating what it owes by leaving out certain unfunded liabilities that include government loan guarantees, deposit insurance, and actions taken by the Federal Reserve as well as the cost of other government trust funds. Factoring in those figures brings the total amount the government owes to a staggering $70 trillion

Now we are off to an entirely different race, this only gets worse if we take the Bloomberg article into account from March 2014, which headlines as ‘Debt Exceeds $100 Trillion as Governments Binge‘ (at http://www.bloomberg.com/news/2014-03-10/debt-exceeds-100-trillion-as-governments-binge.html). Make sure you realise that this last article is about global debt and not about US debt.

This was already on my scope for another reason, but I will return to that shortly. I need to return to the Fox News article where it stated the view of Professor Hamilton, an economics professor from San Diego. The reason for this is because I try to stay fair and balanced (statement plagiarised from Fox News) and as such, as I found additional views from the professor, it is only fair that I mention that too. This all is linked to a paper he published in 2013 (at http://econweb.ucsd.edu/~jhamilton/Cato_paper.pdf), it is the starting quote “This paper examines the growth of federal liabilities that are not included in the officially reported numbers” which should grab your attention. Yes, we are talking about ‘off’ the book liabilities, which should make us all wonder whether ANY government should be allowed to be part of liabilities that are not on the books to begin with. If our job is to stem the tide of irresponsible spending, then keeping things ‘off the books‘ as the ‘kids’ seem to state, should not be allowed under any condition. If we look at the quote that was found in the Econ browser by professor Hamilton, we see “Similar calculations from the trustees reports for Medicare report Medicare’s net unfunded liabilities for current program participants to be $27.6 trillion. For more details see Table 4 and the accompanying discussion in my paper.” The floor should open to an entirely different debate and soon. I think it is high time that these events are properly mapped out and as such ALL governments need to adhere to a different level of ‘accounting’. Their books can no longer remain silent in regards to unfunded liabilities. Is it any wonder books are not in order in a massive amount of nations?

This now grabs back to other observations I made and more important the small revelation my data implied. On March 22nd 2013 I wrote the blog article ‘60% confiscated and counting in Cyprus!‘, here I quoted “If this is what frightens the US, then consider the consequences of a system like LIBOR being manipulated through the total value of trade. If that would have been off by 11.2%. Out of $1000T (UK and US combined) then that difference would be $112T“, I implied to some extent that not only were the percentages messed with, I had some reason to believe that someone had messed with the total trade value that LIBOR represents. Perhaps my mistake (to some extent) was thinking that it was ‘just’ manipulation. In my defence, I came up with these findings before Professor Hamilton had finished his paper, so as a non-economist I was slightly in the dark to begin with. Consider that some politicians could be overspending, whilst using the options of unfunded liabilities within LIBOR to excuse themselves for accountability? What will other governments say, when such events are brought to light (if that would be happening). More important, if my number was closer to the truth then many considered, the global economy is playing high stakes poker with debts twice the size then most realise and our cost of living is based partially upon the irresponsible spending of both Washington and Wall-Street. How are the people ever to get a fair shake at a happy life, when a group of no more than 3000 people have been spending the dreams and futures of well over 1 billion people? Most do not realise that this goes way past the borders of the US, if there is indeed an established group editing the total value of trade considering the manipulation of the LIBOR percentage, the established setting of unfunded liabilities, as well as the breaking up on loans as they might occur. For this example, I would like to point you towards www.lsta.org/WorkArea/DownloadAsset.aspx?id=2480, here we see a paper from Credit Suisse made by Julia Kingston in August 2006. The next part is just pure supposition on my side. Look at slide 35, here we see a term loan set in three parts. What happened when something falls over in 2 or 4 months? How many parts when Wall Street made its 8 trillion bungle was not written off? Is my consideration that the TOTAL LIBOR trade value has a massive amount of ‘entries’ that had remained hoping it would turn for the better? We have seen a multitude of financial advisors playing just such a card on many levels in the 2008-2011 periods. My question now becomes, was my implied 11.2% just the tip of the iceberg?

I am not claiming, nor do I pretend to have the actual answer here, My issue, as it was in the past is that ‘proclaimed’ Journalists sitting in the top newspapers have not taken a hard look at some elements. It is nice for them that Reuters does much of their work for them and many aspire, but will never come close to people like Paul Mason, Robert Peston or Deborah Hargreaves. Yet, how deep did they dig into LIBOR? Also linked (especially with the Guardian) was the claims that Jullian Assange made in regards to banking, they were never followed up (or so it seems), not even by the Guardian as far as I could tell. Consider the article the Guardian had on February 10th 2011 (at http://www.theguardian.com/media/2011/feb/10/julian-assange-wikileaks-book-claims). The quote “Asked about the ostensibly sensational bank leaks Assange keeps suggesting he is ready to release, Domscheit-Berg said the only banking documents he knew WikiLeaks had were ‘totally unspectacular’ is at the heart of this”. When it was ‘just’ about the US military there was some upheaval (especially by the US), yet when banking issues were raise (slightly mentioned in the Forbes interview in November 2010 at http://www.forbes.com/sites/andygreenberg/2010/11/29/wikileaks-julian-assange-wants-to-spill-your-corporate-secrets/). The interview gives us the following “Will we? Yes. We have one related to a bank coming up, that’s a mega leak. It’s not as big a scale as the Iraq material, but it’s either tens or hundreds of thousands of documents depending on how you define it. Is it a U.S. bank? Yes, it’s a U.S. bank. One that still exists? Yes, a big U.S. bank.

After this the hunt for Jullian Assange really takes on additional energy. I have no idea what he found, or if it is even related, the issue is that there is a recorded atmosphere of unaccountability within the banks (on a global scale) which must stop, if not, not only will governments be allowed to continue in irresponsible ways, but the additional ‘myth‘ that banks and governments apply checks and balances need to be thrown out of the nearest window. A last quote from the Forbes interview is every bit as important “We’re still investigating. All I can say is: it’s clear there were unethical practices, but it’s too early to suggest there’s criminality. We have to be careful about applying criminal labels to people until we’re very sure.

This is the part I had written about for some time, it was not just that the issue with Goldman Sachs imploded the financial industry; it was the issue that they, in black letter law, basically had not broken any laws. The people lost well over 8 trillion and no crime was committed even though their money was basically gambled away. It is that part, especially in the LIBOR sight, as well as the issue raised by Professor Hamilton in regards to unfunded liabilities. No laws are broken, but we are all kept in the dark in regards to the debts inflicted upon us, which in itself is a massive wrong.

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