Thought for the day

"It has become apparent that whole masses of human population are, as a whole, inferior in their claim upon the future, to other masses, that they cannot be given opportunities or trusted with power as the superior peoples are trusted, that their characteristic weaknesses are contagious and detrimental to the civilizing fabric, and that their range of incapacity tempts and demoralizes the strong. To give them equality is to sink to their level, to protect and cherish them is to be swamped in their fecundity. " -- H.G. Wells' in "Anticipations of the Reaction of Mechanical and Scientific Progress upon Human Life and Thought" 1901

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I have never known the Federal Reserve make a good decision.  Indeed, disastrous decisions are the Fed’s hallmark.  There are many such disasters.  Among them the Great Depression, the decade long consequence of the Federal Reserve Board’s failure to prevent the shrinkage of the US money supply. See this.

Image: Brooksley Born (Photo by the US Government, licensed under the Public Domain)

Brooksley Born.jpg

In more recent times we had Brooksley Born, head of the Commodities Futures Trading Commission (CFTC), blocked from regulating over the counter derivatives and credit default swaps that resulted in financial panic and economic collapse.  Fed Chairman Alan Greenspan, Treasury Secretary Robert Rubin, Deputy Treasury Secretary Larry Summers, and SEC Chairman Arthur Levitt conspired to have Congress block Brooksley Born from doing her job.  The four dumbshit officials told Congress that “markets are self-regulating.”  Greenspan when later questioned by Congress admitted that his ideology “had a flaw.” See this

The Fed has abandoned effective financial regulation and helped to kill the 1933 Glass-Steagall Act that had kept commercial and investment banking separate.  It is ironic that it was the formerly progressive Democrat Party in the clutches of the Clintons that repealed the progressive Glass-Stegall Act in 1999, thus setting up the line of financial troubles that caused the Fed to pump out money for 12 years in an effort to stabilize the financial system.  Gretchen Morgenson and Joshua Rosner’s 2011 book, Reckless Endangerment documents the failure of financial regulation.  Michael Lewis’s books, such as Flash Boys (2014), among others, demonstrate that the financial sector no longer serves any public purpose.  All the years while the Fed was printing money hand over fist to keep the financial system intact, Wall Street was making its money by front-running stock purchases.

Posted on: Nov 10 10:00

 Representative Alexandria Ocasio-Cortez (D-NY) criticized New York State Democratic Party leadership on Wednesday after results revealed that New York was moving toward the Republican Party.

By: orraz
Posted on: Nov 10 09:59

The U.S. Navy is aiming to expand a system that will let submarines launch and recover uncrewed underwater vehicles (or UUVs). The idea, Navy leaders say, is to turn the nuclear attack submarine fleet into UUV “motherships” that can launch uncrewed objects both for offensive and reconnaissance purposes and for explosive ordnance disposal.

Right now the 600-pound Razorback UUV that the Navy has requires a dry-dock storage system and needs to be recovered by divers by hand, a cumbersome and time consuming task. Submarine Force commander Vice Adm. Bill Houston called the launching part “easy,” but said the rest is tough, according to the U.S. Naval Institute’s news outlet. Houston was speaking at the Naval Submarine League’s annual symposium. 

The Navy has tested and proved that it can recover medium-sized UUVs, per Rear. Adm. Doug Perry, director of submarine warfare for the Office of Chief of Naval Operations. The service has yet to implement them fleetwide, he said. That is coming in the “near future.”

“While the submarine is moving, the UUV has to find that torpedo tube and drive in,” Perry said to reporters. 

Posted on: Nov 10 09:59

 Former White House Press Secretary Kayleigh McEnany did not say that her ex-boss, former President Donald Trump, should campaign for Senate candidate Herschel Walker (R-GA) ahead of his December run-off election.

By: orraz
Posted on: Nov 10 09:58

 Limitless abortion measures were overwhelmingly approved Tuesday in California and Vermont, paving the way to enshrine so-called reproductive rights for women into both state constitutions next year.

By: orraz
Posted on: Nov 10 09:58

Western media fixates on coup supporters waving Russian flags in Burkina Faso’s capital while overlooking the long history of US and French control over the country – and its destabilizing consequences.

The landlocked country of Burkina Faso has proven itself to be a valuable diplomatic and intelligence asset in the US domination of the African continent. Over the last ten years, the US-run Africa Command (AFRICOM) has built up the nation’s military capacity to assist US regional operations.

On September 30, 2022, yet another military coup toppled the government of Burkina Faso, with protesters surrounding and vandalizing the French embassy in the capital of Ouagadougou. The demonstrators’ anger centered on the French, and behind them, their American allies, for their failure to stop a ceaseless wave of Islamist militant attacks around the country.

Posted on: Nov 10 09:58

 The Los Angeles mayoral election was still too close to call on Wednesday, with the majority of votes still uncounted.

Posted on: Nov 10 09:57

Nicole made landfall in Florida as a Category 1 hurricane early Thursday morning and later weakened to a tropical storm.

The National Hurricane Center said it weakened to a tropical storm after its landfall just south of Vero Beach.

As of 7 a.m., Nicole was 30 miles southwest of Orlando and 55 miles east of Tampa. The storm had maximum sustained winds of 60 mph and was moving west-northwest at 14 mph.

Nicole dumped about four inches of rain and wasn't done.

Posted on: Nov 10 09:57

President Joe Biden said on Wednesday he intends to run for reelection and would likely make a final decision by early next year, after declaring the results of Tuesday's midterm elections good for democracy.

White House officials expressed a sense of vindication that Biden's fellow Democrats did better than expected.

Biden, who turns 80 this month, has faced questions on whether he will seek a second term. A Biden adviser said preparatory discussions for a 2024 campaign were under way.

"Our intention is to run again, that's been our intention," Biden told reporters at the White House, his wife Jill sitting nearby. "This is ultimately a family decision."

Posted on: Nov 10 09:55

A second dead Democrat candidate has stormed to victory with a landslide win in their election.

Tennessee state Rep. Barbara Cooper, a Democrat, died on October 25 at the age of 93, two weeks before Election Day.

According to WATN, election officials were unable to remove Cooper’s name from the ballot following her “unexpected” death.

Despite her well-publicized death, Democrat Cooper crushed her opponent, independent Michael Porter, by 7,999 votes to 2,942, according to WHBQ.

Cooper had represented the 86th state House district for 26 years, according to WSMV.

Posted on: Nov 10 09:54

On Wednesday, soon-to-be former Portland City Council commissioner Jo An Hardesty conceded the race to her competitor, Rene Gonzalez.

Hardesty, who held the position since 2019, was infamous for defending the "defund the police" movement, and going after a city worker for daring to display a "thin blue line" sticker on his truck.

Posted on: Nov 10 09:54

Hollywood leftist sisters Patricia and Rosanna Arquette are the latest “woke” celebrities to leave Twitter in protest of new owner Elon Musk’s plans to restore free speech on the platform.

As of Thursday morning, the accounts of both siblings — @RoArquette and @PattyArquette — are no longer accessible.

However, it is unclear whether the actors were banned by Twitter or shut down their accounts voluntarily.

The Arquettes’ profiles now just display an error message that says: “This account doesn’t exist.”

In recent years, the Arquette sisters have used their Twitter accounts with hundreds of thousands of followers to promote radical far-left ideology.

Their “woke” messaging has included equating Republican voters to Nazis and the Taliban, calling police officers the “Gestapo,” and engaging in election denial by saying Donald Trump was not the legitimate president of the United States.

Posted on: Nov 10 09:53

Democrat Summer Lee is projected to beat Republican Mike Doyle in Pennsylvania’s 12th district race. The progressive state senator and former community organizer would become the first black woman elected to Congress from the state. With 95% of the vote in Lee is leading by over 11 points.

The American Israel Public Affairs Committee (AIPAC) spent millions attempting to stop Lee from reaching the House. The group’s United Democracy Project (UDP) super PAC spent $2.7 million trying to defeat Lee during her primary by backing former GOP staffer Steve Irwin. Their efforts were nearly successful, as Lee ended up prevailing by less than a point.

Posted on: Nov 10 09:52

Last week in Ramallah, in a meeting with Canada’s mission to the Palestinian Authority, Canadians for Justice and Peace in the Middle East (CJPME) drew urgent attention to the issue of Israel’s violent repression of Palestinian human rights organizations. In a useful but frank meeting with Canada’s new Representative to the Palestinian Authority, David Da Silva, CJPME Vice President Michael Bueckert highlighted the existential threat faced by six of Palestine’s most prominent human rights organizations and urged Canada to denounce Israel’s criminalization of these groups. Bueckert is currently visiting Palestine on a delegation with representatives of the Ottawa Forum on Israel Palestine and the United Network for Justice and Peace in Palestine and Israel (UNJPPI).

Posted on: Nov 10 09:50

Brits have watched double-digit inflation wipe out any wage gains in one of the worst cost-of-living crises in a generation. Many have gone into debt, paying for things such as food, energy, and shelter. Others have been left with little or no discretionary income ahead of a very dark and cold winter.

Research company Kantar published a new survey Tuesday that revealed startling food inflation numbers for October that soared at the fastest pace in 14 years. 

Kantar said annual grocery prices rose to 14.7% last month, the fastest since the research firm began tracking prices.

Posted on: Nov 10 09:49

What's not to like about a massive interest-free loan that won't have to be paid back for decades, or maybe never? Ukraine's President Volodymyr Zelensky says it shows "true solidarity"...

"Grateful to the European Commission and President Ursula von der Leyen for announcing 18 billion-euro financial aid package for 2023," Zelensky announced on social media Wednesday. "This shows true solidarity of the EU."

The EU Commission President explained in a statement that the whopping €18 billion support package for 2023 is being mulled to prepare the ground for the reconstruction of Ukraine as it continues on the path toward EU membership, after it was granted candidate status on June 23 of this year.

Posted on: Nov 10 09:49

It must have really irked Wisconsin Public Radio to report that Sen. Ron Johnson has been declared the winner of his race, giving him his third term in the upper body. However, rather than simply reporting on the Johnson victory, WPR made sure to let their partisan bias reveal itself in some bitter sliming of Johnson.

Reporters Rich Kremer and Danielle Kaeding wrote: 

Republican U.S. Sen. Ron Johnson has won reelection to a third term, narrowly defeating Democratic Lt. Gov. Mandela Barnes.

...At the beginning of the election cycle, Johnson was seen as one of the most vulnerable Republican incumbents in the U.S. Senate. He pulled ahead of Barnes in recent polling after a September onslaught of negative ads that painted Barnes as a soft-on-crime, radical liberal. 

The local reporters didn't just resent the GOP (accurately) painting Barnes as a radical who trashed the police, they painted him as anti-science on COVID:

Posted on: Nov 10 09:48

 The Consumer Price Index (CPI) rose 7.7% between October 2021 and October 2022, according to a Thursday report from the Bureau of Labor Statistics, showing that inflation has begun to slow amid harsh contractionary policy from the Federal Reserve.

By: orraz
Posted on: Nov 10 09:45

 Former President Donald Trump (R) reportedly threw his wife Melania Trump under the bus Wednesday after the Pennsylvania U.S. Senate Republican nominee Dr. Mehmet Oz lost against the incredibly weak Democrat nominee, John Fetterman.

By: orraz
Posted on: Nov 10 09:44

 House Minority Leader Kevin McCarthy (R-CA) announced a bid to unseat current House Speaker Nancy Pelosi (D-CA) as the chamber’s top legislator.

By: orraz
Posted on: Nov 10 09:44

 On Wednesday, after most of the results had been tabulated from Election Day, President Biden declared that he would do nothing differently, despite voters being disenchanted with the direction of the country.

By: orraz
Posted on: Nov 10 09:43

 Former President Donald Trump (R) tried to downplay Florida Governor Ron DeSantis‘ (R) dominant election victory on Tuesday night, claiming that his victory in 2020 in Florida was more impressive than DeSantis’ victory last night, even though facts do not support that notion.

Posted on: Nov 10 09:42

U.S. military forces have been engaged in unauthorized hostilities in many more countries than the Pentagon has disclosed to Congress, let alone the public, according to a major new report released late last week by New York University School of Law’s Brennan Center for Justice.

“Afghanistan, Iraq, maybe Libya. If you asked the average American where the United States has been at war in the past two decades, you would likely get this short list,” according to the report, Secret War: How the U.S. Uses Partnerships and Proxy Forces to Wage War Under the Radar. “But this list is wrong – off by at least 17 countries in which the United States has engaged in armed conflict through ground forces, proxy forces, or air strikes.”

“This proliferation of secret war is a relatively recent phenomenon, and it is undemocratic and dangerous,” the report’s author, Katherine Yon Ebright, wrote in the introduction. “The conduct of undisclosed hostilities in unreported countries contravenes our constitutional design. It invites military escalation that is unforeseeable to the public, to Congress, and even to the diplomats charged with managing U.S. foreign relations.”

The 39-page report focuses on so-called “security cooperation” programs authorized by Congress pursuant to the 2001 Authorization for Use of Military Force, or AUMF, against certain terrorist groups. One such program, known as Section 127e, authorized the Defense Department to “provide support to foreign forces, irregular forces, groups or individuals engaged in supporting or facilitating authorized ongoing military operations by United States special operations forces to combat terrorism.”

Posted on: Nov 10 09:42

Of all the great tension both doctors and patients have faced in the COVID-19 crisis is the lack of assurances on long-term safety of COVID-19 vaccines.  Americans were told these genetic products were brought through testing at “warp speed.”  While that may be wonderful for the Starship Enterprise, warp speed should not be viewed as favorable in drug or vaccine development. 

Observation time in research is very important to evaluate the emergence of problems, particularly for the long-lasting mRNA vaccines and their biologic product, the coronavirus Spike protein.  For a typical live-attenuated, killed, or antigen-based vaccine, the minimum period for safety observation in clinical development is 2 years. For genetic products which includes mRNA and adenoviral DNA, the minimum time is 5 years.

Now with mass indiscriminate population, we have roughly two thirds of adult populations who have received a novel vaccine and the progression of their baseline medical problems is specific aim of research going forward at many centers. Canney et al studied 1105 patients who had stable glomerular kidney disease in 2020 before mRNA, and then followed them after receiving one or more of the COVID-19 vaccines.[i]

Posted on: Nov 10 09:41

Electricity and gas prices are soaring across Europe, with bills close to double from last year in most European capitals, according to new data from the Household Energy Price Index - a monthly tracker of energy prices for households across 33 European capitals, including the 27 EU member states and several non-members.

According to the data collected for the HEPI, natural gas bills in Europe have gone up by as much as 111 percent over the past year, with electricity prices up by an average of 69 percent. Taken together, Euronews calculates these two make for a total 90-percent increase in household energy bills over the past year.

"Significantly higher [energy prices] compared to one year ago ... can be attributed to a combination of factors, such as increased demand connected to post-pandemic economic recovery and extraordinary weather conditions, the record-high prices for natural gas, and high CO2 emissions allowances," the authors of the latest HEPI report noted.

Posted on: Nov 10 09:40

While we will be discussing the most unwelcome news of increased death rates, I am happy to report that a leading British Member of Parliament, Andrew Bridgen brought up, in the UK parliament no less, the relationship between vaccination and excess deaths.

Even a casual glance at the data shows that there’s a VERY STRONG CORRELATION between excess DEATHS & the level of vaccine uptake in that country. Surely we must have an investigation? These are 10s of thousands of PEOPLE who are DYING.

Please watch his speech below.

Posted on: Nov 10 09:39

Canada will soon announce a new Indo-Pacific strategy to challenge China on human rights issues while cooperating with the world's second-biggest economy on climate change and other shared goals, Foreign Minister Melanie Joly said on Wednesday.

Canada sees relations with Indo-Pacific countries as vital to national security and its economic and environmental goals, Joly said in Toronto ahead of an official trip to the region.

China was an "increasingly disruptive, global power" Joly said, and would need to be a major part of the Indo-Pacific strategy expected to be announced within the next month.

"It's sheer size and influence makes cooperation necessary to address the world's existential pressures such as global health, nuclear non-proliferation, climate change and biodiversity loss," she added.

Posted on: Nov 10 09:39

Finland will be supporting the grain shipments of the UN’s World Food Programme (WFP) from Ukraine to Somalia as part of its bid to increase assistance to the famine-ridden Horn of Africa region, the Foreign Ministry announced Tuesday.

Posted on: Nov 10 09:38

What Happened: The JPMorgan team led by Nikolaos Panigirtzoglou wrote in a note, seen by Bloomberg, "What makes this new phase of crypto deleveraging induced by the apparent collapse of Alameda Research and FTX more problematic is that the number of entities with stronger balance sheets able to rescue those with low capital and high leverage is shrinking" in the cryptocurrency environment.

Panigirtzoglou and his team used Bitcoin's production cost to gauge how much its price can drop. 

Posted on: Nov 10 09:35

It was supposed to be a red wave that former President Donald Trump could triumphantly ride to the Republican nomination as he prepares to launch another White House run.

Instead, Tuesday night’s disappointing results for the GOP are raising new questions about Trump’s appeal and the future of a party that has fully embraced him, seemingly at its peril, while at the same time giving new momentum to his most potent potential rival.

Indeed, some allies were calling on Trump to delay his planned announcement next week, saying the party’s full focus needs to be on Georgia, where Trump-backed football great Herschel Walker’s effort to unseat Democratic Sen. Raphael Warnock is headed to a runoff that could determine control of the Senate once again.

Posted on: Nov 10 09:34