ECONOMY | WHAT REALLY HAPPENED


ECONOMY

Sep 27 15:30

This Chart Defines The 21st Century Economy

Policy tweaks such as tax reform are mere public relations ploys. The cancer eating away at our economy and society arises from the Federal Reserve and the structure of our financial system, and the the degradation of our representative democracy into a pay-to-play auction to the highest bidder.

Sep 27 15:15

Illegals costing Americans RECORD $135 billion a year…

The swelling population of illegal immigrants and their kids is costing American taxpayers $135 billion a year, the highest ever, driven by free medical care, education and a huge law enforcement bill, according to the the most authoritative report on the issue yet.... And despite claims from pro-illegal immigration advocates that the aliens pay significant off-setting taxes back to federal, state and local treasuries, the Federation for American Immigration Reform report tallied just $19 billion, making the final hit to taxpayers about $116 billion.

Sep 27 15:02

GOP’s tax outline gives huge cuts to businesses, but details of individual relief are less certain

Businesses would receive huge tax cuts and many middle-class Americans would see relief under a tax overhaul outline agreed to by President Donald Trump and top congressional Republicans, according to people familiar with the plan.

Sep 27 13:27

Feds Collect Record Taxes Through August; Still Run $673.7B Deficit

At the same time that the federal government was collecting a record $2,966,172,000,000 in tax revenues, it was spending $3,639,882,000,000—and, thus, running a deficit of $673,711,000,000.

Sep 27 12:51

Credit Rating Agencies Can’t Be Trusted

RT talked to investing guru and financial commentator Jim Rogers who said the American rating agencies are incompetent and have “made a lot mistakes in the past decades.” --“They’ve been so wrong so many times in the past. They are totally incompetent; they don’t know what they are doing,” said Rogers.

Sep 27 11:33

GOP is dead, Obamacare is alive

Remember back in 2012 when then-vice president Joe Biden told us, "Bin Laden is dead; General Motors is alive"? The good old days. That was also around the time Senators John McCain and Lisa Murkowski promised to repeal Obamacare – along with a bunch of other Republicans seeking re-election to Congress.

Fast forward to 2017>>>

Sep 27 10:31

Facebook Rally Facing Key Test

Sep 27 10:19

Here is the leaked Trump Tax reform plan

In a political era where every little thing is leaked to the media, we no longer have to wait for presidential speeches to learn the details

Sep 27 09:26

Japan considers killing cash by launching own cryptocurrency

Authorities in Japan are considering starting a digital currency to be called the J-Coin. By doing so, Tokyo will reduce cash circulation in the country.

Sep 27 09:16

Cisco polishes the axe for more HQ job cuts

Cisco is saying farewell to 310 more staff from its corporate HQ in California, according to a filing with the Worker Adjustment and Retraining Notification (WARN) system.

As part of its struggle to stay relevant in a world of cloud tech, the router and switch maker has spent the past seven years restructuring by removing people deemed to have the wrong skills and hiring new folk.

Back in May, Switchzilla confirmed its intent to chop 1,100 job worldwide, with 250 reductions earmarked for HQ in San Jose.

Sep 27 08:41

JPMorgan Ordered To Pay Over $4 Billion To Widow And Family

A Dallas jury ordered JPMorgan Chase to pay more than $4 billion in damages for mishandling the estate of a former American Airlines executive.

Jo Hopper and two stepchildren won a probate court verdict over claims that JPMorgan mismanaged the administration of the estate of Max Hopper, who was described as an airline technology innovator by the family’s law firm. The bank, which was hired by the family in 2010 to independently administer the estate of Hopper, was found in breach of its fiduciary duties and contract. In total, JP Morgan Chase was ordered to pay at least $4 billion in punitive damages, approximately $4.7 million in actual damages, and $5 million in attorney fees.

Sep 27 08:37

Murder of Mainstream Media Journalist Exposes Banking Industry at Highest Levels

The New York Post says so. According to the newspaper in 1991, the television newswoman who died in Bucks County eight years ago was murdered because she was investigating an Italian banking scandal. “Savitch was in danger after she began looking into the life and death of Italian banker Robert Calvi,” the Post said in a story published yesterday. The Post story quoted private investigator William Callahan, who alleged that Calvi was murdered after his Milan-based bank collapsed, costing the Vatican $250 million.

Sep 27 08:35

Connecticut Capital Hartford Downgraded To Deep Junk, S&P Says "Default Virtual Certainty"

Two months after S&P downgraded the state capital of Connecticut, Hartford, to junk, when it cuts its bond rating from BB+ to BB- citing growing liquidity pressures and weaker market access, the city which has been rumored is preparing to file for bankruptcy protection and which has seen an exodus of corporations and businesses in recent months, just got more bad news when S&P downgraded it by a whopping 4 notches deeper into junk territory, from BB- to CC, stating that "a default, a distressed exchange, or redemption appears to be a virtual certainty."

Sep 27 08:23

Left Behind

Sep 26 17:36

Flashback: Crippling PFI deals leave Britain £222bn in debt

Every man, woman and child in Britain is more than £3,400 in debt – without knowing it and without borrowing a single penny – thanks to the proliferation of controversial deals used to pay for infrastructure such as schools and hospitals.

The UK owes more than £222bn to banks and businesses as a result of Private Finance Initiatives (PFIs) – “buy now, pay later” agreements between the government and private companies on major projects.

...

Basically, a PFI is like a mortgage that the government takes out on behalf of the public. The average annual cost of meeting the terms of the UK’s PFI contracts will be more than £10bn over the next decade.

And the cost of servicing PFIs is growing. Last year, it rose by £5bn. It could rise further, with inflation. The upward creep is the price taxpayers’ pay for a financing system which allows private firms to profit from investing in infrastructure.

Sep 26 14:16

Doug Casey on Why Bitcoin Could Hit $50,000

Sep 26 13:58

The Single-Payer Disaster

If we let the Left win, America will be fundamentally changed in a matter of decades. That new America would be less healthy, less prosperous, and less free.

Sep 26 12:43

The NFL: Big Business With Big Tax Breaks

If You Build It ...

Besides the tax exemption, the NFL can also get a break through big stadium deals. Take, for example, the Dallas Cowboys.

In the late 1990s, the Dallas Cowboys and the team's owner, Jerry Jones, began plans to expand their stadium or build a new one. Jones shopped in and around Dallas for years, asking for public assistance to fund the stadium.

He found an audience in Arlington, a city just outside of Dallas. The price tag for the public was $325 million. (Jones was responsible for the balance of the money for the $1.2 billion stadium. Dallas News says Jones' contribution "was paid with commercial loans, league funding and proceeds from a ticket and parking tax.")

Sep 26 12:39

Paid Patriotism: Six Ways The NFL Is Directly Connected To The Government

There's a reason why football is called America's pastime. Americans —if they watch the sport or not— are unconsciously paying for it. Controversy brought on by NFL star Colin Kaepernick taking a knee during the National Anthem last season, and subsequently looking for employment this season, has put the organization founded in 1920 under a microscope.

Non-Profit Status.
Believe it or not, the NFL is non-profit. The IRS expanded Section 501(c)6 of the Internal Revenue Code, which "provides for the exemption of business leagues, chambers of commerce, real estate boards, boards of trade and professional football leagues, which are not organization." As noted by The Washington Post, this exception means the NFL’s headquarters in New York led by Goodell is spared tax payments that some estimate to be $10 million annually— because the teams and not the NFL make money.

Sep 26 12:35

How the NFL Fleeces Taxpayers

Taxpayers fund the stadiums, antitrust law doesn't apply to broadcast deals, the league enjoys nonprofit status, and Commissioner Roger Goodell makes $30 million a year. It's time to stop the public giveaways to America's richest sports league—and to the feudal lords who own its teams.
Last year was a busy one for public giveaways to the National Football League. In Virginia, Republican Governor Bob McDonnell, who styles himself as a budget-slashing conservative crusader, took $4 million from taxpayers’ pockets and handed the money to the Washington Redskins, for the team to upgrade a workout facility. Hoping to avoid scrutiny, McDonnell approved the gift while the state legislature was out of session. The Redskins’ owner, Dan Snyder, has a net worth estimated by Forbes at $1 billion. But even billionaires like to receive expensive gifts.
And on and on........

Sep 26 10:39

"Gold-Backed' RMB Oil Contracts

Sep 26 10:19

How an Economy Grows and Why it Doesn't

Sep 26 09:54

CHINA CONDUCTS FIRST EVER LIVE FIRE MILITARY DRILL IN ITS FIRST OVERSEAS MILITARY BASE IN AFRICA

The Chinese military has for the first time staged live-fire drills at the country's first overseas base opened recently in the Horn of Africa, near the strategic Straits of Hormuz in Djibouti.

Less than two months after inaugurating and deploying troops to China's first foreign naval military base abroad, the People’s Liberation Army Navy (PLA) held live-fire drills for the first time in this east African location on Friday, the South China Morning Post reported on Monday.

China’s first overseas military facility was inaugurated on August 1 after being under construction for more than a year. China’s military presence in Djibouti will continue until 2026, with a contingent of up to 10,000 soldiers. Beijing has long wanted to use its several footholds in Africa to seek closer ties with nations on the continent that could help it gain access to natural resources and provide new markets.

Webmaster's Commentary: 

China is in Africa for the same reason that the US is there as well; the embarassment of riches in natural resources to exploit.

Sep 26 09:27

Bitcoin “Probably Worth Zero”

Sep 26 09:08

CA High-Speed Rail Contractor Gets 18% Raise After Missing Completion Date

California High-Speed Rail agreed to increase payments to its construction manager by 18 percent after failing to complete its first 32-mile section within the seven-year deadline.

Sep 26 08:48

Revoke the NFL's Antitrust Exemption

Indeed, were the NFL not subject to an antitrust exemption granted to it by our compromised Congress, thanks to the sport’s lobbyists having spread “beaucoup” money all over Capitol Hill, the club of uber rich owners who make their own rules with impunity could be charged under RICO, the Racketeer Influenced and Corrupt Organizations Act, for price fixing, market division and other illegal anti-competitive acts. As a former Justice Department Antitrust Division prosecutor who was on the trial team that broke up AT&T during the Reagan administration for price fixing and market division, take it from me!

Sep 26 08:30

SPANISH SUPPRESSION OF CATALAN INDEPENDENCE MOVEMENT CONTINUES TO ESCALATE

Disobedient Media previously reported on the suppression of the Catalan independence movement in Spain. Since our first coverage of the issue, repressive tactics in Spain have continued to escalate. Disobedient Media’s report on the issue was also disingenuously smeared by Spanish media outlet El País. The press outlet also heavily criticized Edward Snowden and Julian Assange for having expressed concern on the matter.

Sep 26 08:14

Army veteran, 46, who served in the Gulf and Afghanistan is spotted at a roundabout with a 'job wanted' poster after failing with 400 applications

Left frustrated at missing out time and time again, the military man decided to take action, saying: "Things have been really difficult so I thought it was time to be proactive and try something different.
"I’ve had no response from so many applications, I just thought ‘go and give it a try and see what happens’.

Sep 25 21:14

Trillions of pounds at risk without Brexit deal on derivatives, warns Bank of England

The Bank of England has called for special arrangements to be made in order to protect the UK derivatives market when it leaves the European Union.

In today's statement from the central bank's Financial Policy Committee (FPC), the BoE said that it was essential to ensure the protection of the £20 trillion currently held in derivatives contracts between the UK and other EU country members.

Seeking to mitigate any likely risks of disruption to financial markets following Brexit, the FPC said it was assessing the derivatives situation, and "exploring actions" that could be taken where it believed that it might be too “complex and difficult” for financial firms to offset risks arising from the continuity of contracts between UK and EU27 counterparties, themselves.

Sep 25 16:32

Harvey and Irma Won’t End Carmageddon

Sep 25 05:50

Amazon- Dual topping patterns possible

Sep 25 03:26

Rickards: Is There Really A Bitcoin Bubble?

Sep 24 22:17

A brilliant plan: One Belt, One Road

Xi Jinping’s ambitious strategic initiative – an adaptation of the historical Silk Road – marks the beginning of a new geopolitical era.

Sep 24 10:51

U.S. Households Are Loaded Up With Stocks

Sep 23 15:37

Janet Yellen's Ptolemaic Monetary Universe

Sep 23 14:17

China imposes limit on oil supply to North Korea

China announced Saturday that it will limit energy supplies to North Korea and stop buying its textiles under U.N. sanctions imposed over its nuclear and missile development, further reducing support from Pyongyang's last ally.

Exports of refined petroleum to the North will be limited to 2 million barrels per year, effective Jan. 1, the Commerce Ministry said. Sales of liquefied natural gas are banned outright.

North Korea depends on China for almost all its oil and gas but estimates of its consumption are low, leaving it unclear how Beijing's new limit will affect them. The restrictions announced Saturday do not apply to crude oil, which makes up the biggest share of energy exports to the North.

China also will ban textile imports from the North, the ministry said. Textiles are believed to be the North's biggest source of foreign revenue following rounds of U.N. sanctions under which Beijing cut off purchases of coal, iron ore, seafood and other goods.

Webmaster's Commentary: 

I have to admit; I did NOT see this coming, but good on the Chinese government for having taken this step; now, we are going to see how North Korea responds to this stiffening of sanctions against it.

Sep 23 12:55

Tillerson State Dept. Demanding Israel Hand Back Millions in U.S. Military Aid

State Dept., White House at odds over demand.

Secretary of State Rex Tillerson has been pushing the Trump White House to demand that Israel give back to the United States millions of dollars in military aid, prompting pushback in the West Wing and further fueling ongoing tensions between Foggy Bottom and the White House over a range of key diplomatic issues, according to multiple sources briefed on the situation.

Sep 23 12:11

Catalonia Closes Ranks as Outrage over Crackdown Grows

Spain’s increasingly public crackdown on the planned October 1 secession referendum in Catalonia appears to be bringing the population of the northeastern region together. Reports say that the social indignation toward police action is spreading far from just the pro-secession crowd.

Spain’s Constitutional Court forbade the referendum, and national police have been out in growing force trying to undermine the lead-up to the vote. Still, there’s little sign they’re going to be able to prevent the vote outright, and mostly they’re just angering everybody in the region.

If anything, there’s some speculation that Spain’s crackdown is likely to sway the outcome more in favor of secession, as the pro-secession crowd is more mobilized than ever, and resentment is soaring. Polls had previously shown Catalonia widely split on the issue.

Webmaster's Commentary: 

The Spanish government needs to be very careful about how it handles this referendum; as the situation is now, it is risking a civil war here.

What Spain needs to do, if the referendum is, in fact, successful (which I think it will be) is to figure out what kind of healthy political and economic relationship it can have with an independent Catalonia, so that the region of Europe doesn't completely fracture.

Sep 23 10:38

Trump, Ghani agree U.S. can help develop Afghanistan's rare earth minerals

Hate to agree with Karl,but wars are economic,actually criminal. Somebody wants what someone else has and they figure the best way to get it is to steal it,using various nebulous reasons to motivate the cannon fodder. Like religion,nationalism,race or my favorite from Gullivers Travels;"They open their eggs from the wrong end!"

(Reuters) - U.S. President Donald Trump and Afghan President Ashraf Ghani on Thursday backed having companies from the United States develop Afghanistan’s reserves of rare earth minerals, despite formidable obstacles to industrial mining in the country.

The comments, at a meeting in New York, were the latest in a series in which both U.S. officials and the Afghan government have emphasized the potential strategic value of Afghanistan’s vast and largely untapped mineral reserves.

Sep 23 10:33

The Reason Why ICOs Have Been Going Through The Roof...

"Like the dot-com bubble in the 90s, you could add the concept of blockchain to just about anything and have a ‘business’ worth millions, no matter how idiotic the original idea..."

Sep 23 10:25

North Korea sanctions rattle Russian, Chinese businesses

As the U.S. exerts more pressure on Pyongyang, economic exchanges between Russia and North Korea, which the government of Vladimir Putin had sought to use as a diplomatic bargaining chip, are beginning to ebb.

In late August, Vladivostok in Russia's Far East suspended service on the Mangyongbong, a North Korean ferry and cargo ship. The ship started service to Vladivostok in May, making one round-trip per week from the port of Rajin in Rason, in northeastern North Korea. Now the ship remains moored at Rajin.

Sep 23 08:37

BOOBS ON CREDIT

Do you ever hear something so startlingly mind numbingly ridiculous you realize it must be a sign things have gotten so fucked up something has got to give? As I was driving to work yesterday morning on the Schuylkill Expressway a commercial comes on the radio from a plastic surgeon advertising for anyone looking for a better set of boobs. I had never heard a plastic surgeon commercial before, so I thought that was unusual. But, that wasn’t the best part. This plastic surgeon was offering no money down 18 month interest free financing on your new boobs.

Sep 23 06:06

U.S. Ties Noose Around Neck Of Venezuela’s Economy

Washington’s decision to tie a noose round the neck of Venezuela’s economy (presented as sanctions for notional crimes) is effectively preventing Caracas from allowing its oil to flow to allies of the U.S.A.. The knock on effect: from now on, Venezuela will export its oil to China. By doing so, Venezuela’s contracts will no longer be established in dollars but the yuan. This will soon threaten the supremacy of the US currency and, clearly, the US economy. So now, “the party that thought it had the key to the prison door, is held hostage in the cell”.
***
This is Caracas’s response to the sanctions imposed by the Trump Administration on 25 August; sanctions far harsher than those imposed by the Obama Administration in 2014, for the Trump sanctions prevent Venezuela from cashing in the dollars received from selling oil to the United States - more than a million barrels per day.>>>

Sep 22 18:46

Tillerson State Dept. Demanding Israel Hand Back Millions in U.S. Military Aid

Secretary of State Rex Tillerson has been pushing the Trump White House to demand that Israel give back to the United States millions of dollars in military aid, prompting pushback in the West Wing and further fueling ongoing tensions between Foggy Bottom and the White House over a range of key diplomatic issues, according to multiple sources briefed on the situation.

The Washington Free Beacon first reported on Friday that the State Department has been lobbying the White House to call for Israel to hand back some $75 million in U.S. military aid that was awarded to the Jewish state above the Obama administration’s financial request in 2016.

Sep 22 16:38

Dow 50,000! Why Not?!

Sep 22 13:35

Central Banks Investing in Equities

Sep 22 12:56

Why I hate the Banks with a Passion

Every time a country sets up a private central bank, there are big problems and the people are always robbed by the fraud they impose. When I read about banks getting caught manipulating their costumers delaying to post a payroll deposit to bank accounts so the banks could run the checks, then they can charge their clients with overdraft fees. The Banks today are known to rip off today more than ever.

Sep 22 10:28

U.S. not ruling out possible oil embargo on Venezuela: Haley

U.S. Ambassador to the United Nations Nikki Haley said on Thursday a range of options remained on the table, including a possible oil embargo, if Venezuela did not move to restore its democratic processes.

“There’s a lot of support in Latin America to see Venezuela start to respect its people and go back to the democracy it’s supposed to be,” she told reporters. “If things don’t improve, all those options are always there,” Haley added, saying specifically that the possibility of an oil embargo remained.

Webmaster's Commentary: 

As reported by ap.com on 10 August, 2017:

But even as the list of targeted individuals grows longer, promised economic sanctions have yet to materialize amid an outcry by the United States oil industry that a potential ban on petroleum imports from Venezuela – the third-largest supplier to the US – would hurt US jobs and drive up gas costs.

So the oil embargo suggested by Ambassador Haley is going to mess considerably with the American econony, yet she seems gung ho to do this, to achieve the Trump Administration's geopolitical objective of regime change in Caracas, and having Venezuelan oil ultimately sold only in US dollars?!?

Such a plan sounds absolutely as though it will be of no actual help to either the American or Venezuelan people; but of great help to the massive US oil companies, and the banks.

Sep 22 10:21

Gold Tops $1300, USDJPY Tumbles After North Korean "H-Bomb Test" Threat Reports

After an initial slide on Kim's "deranged dotard" reaction to President Trump, both USDJPY and US equity futures are falling further after Yonhap reports, North Korea’s Foreign Minister Ri Yong Ho says the “highest level of hard-line” countermeasure could refer to hydrogen-bomb detonation in the Pacific.

Sep 22 09:26

Austria signs landmark funding deal with Iran

Austria’s Oberbank on Thursday signed a major finance deal with over a dozen Iranian banks thus becoming one of the first European financial institutions to break the ice in providing loans for Iranian projects after the removal of sanctions against the country in early 2016.

Sep 22 09:06

A Look At How Nestle Makes Billions Selling You Groundwater In A Bottle

Here's a look at how Nestle manages to buy the water in that bottle that you just dropped $2 on for a mere $0.000001...

Sep 22 08:41

Wal-Mart tests delivering groceries straight to the fridge with workers who can access customers' homes and put the purchases away

Wal-Mart Stores Inc said on Friday it was testing a service in the Silicon Valley to deliver groceries straight to customers' refrigerators as it looks to gain an edge over Amazon.com.

The retailer said it is partnering with August Home, a provider of smart locks and smart home accessories, to test the service.

The delivery person would get access to the customer's house using a preauthorized one-time passcode and would put away groceries.

Webmaster's Commentary: 

Now, what could possibly go wrong with that?!?

Sep 22 08:28

Special Pump-and-Dump Scheme Spikes to High Heaven

But the Swiss National Bank is just an innocent bystander.

Sep 22 07:35

Venezuela’s Rebellion against the Petrodollar

Washington’s decision to tie a noose round the neck of Venezuela’s economy (presented as sanctions for notional crimes) is effectively preventing Caracas from allowing its oil to flow to allies of the U.S.A.. The knock on effect: from now on, Venezuela will export its oil to China. By doing so, Venezuela’s contracts will no longer be established in dollars but the yuan. This will soon threaten the supremacy of the US currency and, clearly, the US economy. So now, “the party that thought it had the key to the prison door, is held hostage in the cell”.

Sep 21 21:04

Scott Adams: How a Silicon Valley Investor Does Leadership

Lately I have been describing my personal political views as “left of Bernie, but with a preference for plans that can work.” In other words, I would love universal healthcare and free college. I just don’t know how to get there in any practical way. I don’t think anyone else does either.

This indirectly brings me to Sam Altman, CEO of Y-Combinator, and a billionaire investor. He’s embarking on an experiment to see what happens when you give citizens free money, no strings attached. This is important because our robot-centric future will mean the end of most forms of human labor. And that means one of two things, in all likelihood: 1) 90% of the world starves to death while the robot-owners thrive, or 2) 90% of the world receives some sort of “free money” from the rich, with no strings attached. Sam is testing option two.

Sep 21 15:26

This chart is great news for gold…

Sep 21 14:30

Listening to the Donald at the UN – The Saker

No matter how bad things look now, Hillary President would have been infinitely worse!

In conclusion, what I take away from Trump's UN speech is a sense of relief for the rest of the planet and a sense of real worry for the US. Ever since the Neocons overthrew Trump and made him what is colloquially referred to as their “bitch” the US foreign policy has come to a virtual standstill.

Sure, the Americans talk a lot, but at least they are doing nothing. That paralysis, which is a direct consequence of the internal infighting, is a blessing for the rest of the planet

Sep 21 13:50

Computers Rule The Earth

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Sep 21 13:44

Top Investment CEO Shocked By Jamie Dimon Bitcoin Comments: “Major Banks Are All Spending Billions Of Dollars To Get In On Blockchain”

Last week saw some tumultuous moves in Bitcoin and the crypto currency market in general following news that China would be cracking down on ICO’s (Initial Coin Offerings) purportedly in an effort to prevent fraud and capital flight. Just days prior to these announcements, JP Morgan chief Jamie Dimon publicly said that Bitcoin is a fraud and that anyone in his firm caught trading the digital currency would be terminated. By the end of the week, it was revealed that not only were people not being fired at JM Morgan, but they were actively buying the crypto on European exchanges.

Sep 21 13:35

The Scam Known as Social Security Trust Funds

There is no trust fund. There is only a pile of IOU’s issued by the government.

Sep 21 12:02

XIV Volume Showing Sign of a Price Top

Sep 21 10:22

YOU HAVE TO BE IN AWE OF REDNECK ENGINEERING (20 PHOTOS)

Rednecks have never gotten enough credit for their inventions and contributions to the engineering world. Their prototypes may be crude at first glance, but there’s a nugget of moonshine soaked genius in there somewhere.

Get ready, ya’ll, the greatest examples of redneck engineering are coming at ya.

Sep 21 10:07

China says North Korean situation more serious by the day

The situation on the Korean peninsula is getting more serious by the day and cannot be allowed to spin out of control, Chinese Foreign Minister Wang Yi told his German counterpart, the state-run China News Service said on Thursday.

A resolution to the North Korea issue cannot only rely on sanctions and not talks, Wang said, meeting German Foreign Minister Sigmar Gabriel on the sidelines of a United Nations meeting in New York on Wednesday, the report added.

Webmaster's Commentary: 

Ambassador Yi is absolutely correct in his assessment.

China absolutely does NOT want to get mired in a war between the US and North Korea, and is very teed off that the confrontation has pushed tensions in the region to a knife's edge.

The US tolerates a nuclear-armed China; a nuclear-armed Israel; a nuclear-armed Russia; a nuclear-armed Pakistan; and a nuclear-armed India; why is it pathologically incapable, under President Trump's watch, of tolerating a nuclear-armed North Korea?!?

These weapons are developed as a deterrent to invasion, and would never be used in a first-strike capability by North Korea, because they understand that should they do so, the US, South Korea. and Japan would have their country reduced to molten glass in a heartbeat.

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