"The first panacea of a mismanaged nation is inflation of the currency; the second is war. Both bring a temporary prosperity; both bring a permeant ruin. But both are the refuge of political and economic opportunists." -- Ernest Hemingway
Former UK Prime Minister Boris Johnson has been awarded the title of honorary citizen of Kiev, the Ukrainian capital's Mayor Vitaly Klichko said.
"The Kiev City Council has approved the decision to award former UK Prime Minister Boris Johnson the title of honorary citizen of Kiev," Ukrainian media outlets quoted Klichko as saying in a social media post on Thursday.
"Boris has visited the Ukrainian capital many times. Boris Johnson has done and, I am sure, will continue to do all he can to ensure that Britain and world leaders will provide Ukraine with the help it needs," the Kiev mayor said.
China is ready to expand practical cooperation with Cuba and strengthen coordination on global and regional issues, Chinese President Xi Jinping said on Friday during a meeting with his Cuban counterpart Miguel Diaz-Canel.
"China is ready to cooperate with Cuba to deepen mutual political trust, expand practical cooperation, strengthen mutual support on issues of interest to both sides, and is ready to strengthen coordination on global and regional issues," China Central Television quoted the Chinese president as saying.
Xi Jinping also noted that Cuba was the first country in the Western Hemisphere to establish diplomatic relations with China.
Ukraine’s Rovno, Khmelnitsky and South Ukraine nuclear power plants and the Zaporozhye NPP lost external power for the first time ever on Wednesday, International Atomic Energy Agency (IAEA) Director General Rafael Grossi said in a video statement on Thursday.
"While the world has been focused on the dangerous situation at Zaporozhye, Europe’s largest nuclear power plant, we must not forget the country’s other nuclear facilities," Grossi said. He stressed that on Wednesday, for the first time ever, the three Kiev-controlled nuclear power plants, as well as the Zaporozhye site, "lost external power and were disconnected from the grid."
"They were all forced to rely on emergency diesel generators for the electricity they need to ensure their continued safety and security," the IAEA chief added.
Grossi emphasized that "this unprecedented situation would have been unimaginable just months ago" and "it is deeply worrying."
Russian forces obliterated a US-made AN/TPQ-37 counter-battery radar in the Donetsk People’s Republic in the past day during the special military operation in Ukraine, Defense Ministry Spokesman Lieutenant-General Igor Konashenkov reported on Wednesday.
"In the area of the settlement of Nikolayevka in the Donetsk People’s Republic, an AN/TPQ-37 counter-battery radar of US manufacture was destroyed," the spokesman said.
In the areas of the settlements of Volnyansk in the Zaporozhye Region and Chervonopopovka in the Lugansk People’s Republic, Russian troops wiped out two Ukrainian missile/artillery armament and ammunition depots, the general added.
Russian forces delivered fire by artillery guns and heavy flamethrower systems, thwarting an attack by Ukrainian marine infantry and eliminating over 30 enemy troops in the Kupyansk area in the past day, Konashenkov reported.
Canadian Prime Minister Trudeau Castro channeled his inner Castro as his fascist government announced a statewide ban on the sale, purchase, and transfer of handguns effective immediately last October.
Some New Yorkers are understandably upset that so many resources, and tax dollars, are going to illegals who are not citizens, rather than to New Yorkers in need. New Yorkers, like all Americans, are struggling with out of control housing costs and the steep rise in cost of consumer goods.
Yesterday the Pentagon announced another transfer of weapons to the Ukrainian military:
According to the Pentagon, the package includes:
Additional munitions for NASMAS
150 heavy machine guns with thermal imagery sights to counter Unmanned Aerial Systems (UAS)
Additional ammunition for HIMARS
200 precision-guided 155mm artillery rounds
10,000 120mm mortar rounds
High-speed Anti-radiation missiles (HARMs)
150 High Mobility Multipurpose Wheeled Vehicles (HMMWVs)
Over 100 light tactical vehicles
Over 20,000,000 rounds of small arms ammunition
Over 200 generators
Spare parts for 105mm Howitzers and other equipment
The $400 million is being sent to Ukraine through the Presidential Drawdown Authority (PDA), which allows President Biden to send arms straight from US military stockpiles.
The Pentagon is clearly scraping the bottom of the barrel.
As we discussed last night, Sam Bankman-Fried has now demonstrated that he is both a pathological liar and a sociopath, the kind who in “explaining” to his employees how he stole billions (over $4 billion according to new FTX CEO John J. Ray) from the now bankrupt FTX, an act which left it insolvent and without liquidity, called it “loans” which were “generally” not used for “large amounts of personal consumption” (just “small amounts” used for such trivial items as $40 million penthouses and private jets). And the only reason we don’t officially call him a criminal just yet, is because he has not yet confirmed he used client money from his exchange to fund his personal hedge fund, an act which would cost any other individual decades in jail… but not prominent democrats like SBF or Jon Corzine, of course. Plus it’s the US legal system’s job to do that, not ours. Although we are growing increasingly skeptical this prominent Democratic donor will ever see the inside of a courtroom.
Thousands of workers across approximately 40 countries are planning to take part in 'Black Friday' protests to demand better wages and working conditions in the company's warehouses, as the global cost-of-living crisis increases
The protests will coincide with the largest holiday shopping season of the year, which means Amazon warehouse workers are going to be very busy for the next week as consumers panic buy deeply discounted items, though there might be a huge problem: less than 24 hours before the big sale begins, Bloomberg reported Amazon warehouse workers across 40 countries are about to strike.
We would note that the world's biggest retailer has longstanding ambitions to automate its warehouses - with robots that don't strike.
Amazon workers in the US, UK, India, Japan, Australia, South Africa, and across Europe are set to walk out of warehouses on Friday as they demand higher wages and better working conditions amid the worst inflationary environment the world has seen in decades.
The labor action is called "Make Amazon Pay" and is coordinated by an army of trade unions, with support from civil society and environmental groups.
Italians on unemployment benefits who turn down reasonable job offers will have their access to social security payments revoked in new laws expected to be introduced by Giorgia Meloni’s new administration.
In a pledge to clamp down on a relief scheme that Meloni claims rewards laziness and is widely abused, the new Italian prime minister vowed to amend the citizens’ income available across the country, making it conditional upon those who receive job offers while receiving the benefit to take the position.
The citizens’ income is an initiative first introduced by the left-wing Five Star Movement and sees over 3.5 million Italians receive a payment of €780 per month. Receipt of the benefit is widely skewed toward the poorer south of the country where 2.3 million of the recipients reside.
As Meloni announced her first budget on Tuesday, she claimed it was wrong “to put people who can work on the same level as those that can’t."
“Faithful to our principles, we’ll keep helping those who can’t work. For the others it will be abolished,” she added.
The system is expected to undergo an overhaul at the beginning of 2024.
Meloni’s budget sought to stimulate the economy with €35 billion euros of increased spending or tax cuts.
The Wall Street Journal recently reported that the Biden administration has decided not to provide the drones, although other reporting disputed that claim and said a final decision hadn’t been made.
In a letter to Secretary of Defense Lloyd Austin, 16 senators expressed "concern" over the reports that said the administration has declined to send the MQ-1C. The senators asked the administration to give "careful reconsideration" to the Ukrainian request.
The letter was led by Sen. Joni Ernst (R-IA) and was signed by many members of the Senate Armed Services Committee, including ranking member James Inhofe (R-OK).
The senators said the MQ-1C and other long-range capabilities would provide "Ukraine additional lethality needed to eject Russian forces and regain occupied territory."
Since the beginning of Russia’s military offensive in Ukraine, the United States, the European Union – and their allies – have provided Kiev with $126 billion worth of aid, a number almost equal to the country’s entire GDP. Moreover, millions of Ukrainians have found refuge in the EU where they were given housing, food, work permits, and emotional support. The scope is huge, even by western standards. Considering that the bloc has been funding Kiev while coping with an economic and energy crisis of its own, the assistance is perhaps especially notable.
Kiev bases its endless funding requests on the collapse of its economy, due to the war, and its need to “resist Russian aggression.” But is the aid reaching its intended destination?
Elon Musk has promised to fully disclose what led to Twitter's decision to censor the Hunter Biden laptop story, 20 months after DailyMail.com authenticated its contents with top experts.
Billionaire Musk responded to a user who demanded the social media giant get to the bottom of why the laptop was blacklisted from the site - which occurred before he bought Twitter.
In an act of 'politically motivated censorship', Twitter deliberately prevented users from sharing a link to a front-page newspaper article about Hunter Biden's private life and his controversial business ties to Ukraine in the run-up to the 2020 Election between Biden's father and Trump.
Webmaster addition: I hope Elon doesn't suddenly get reeeeeealy depressed!
President Biden's hopes of reviving the deal brokered with Iran by Barack Obama have faded, as it was claimed the Islamic regime is just weeks off having sufficient nuclear material to build its first atom bomb.
The president had hoped to revive the peace deal struck by Obama in 2015 as recently as summer.
That deal eased sanctions on Iran in return for a curtailment of nuclear weapons activity. It was axed by Donald Trump in 2018 over fears Iran was breaking its promises not to develop the bombs it had previously vowed to destroy Israel with.
Webmaster addition: Whose intelligence! Israel and the Mossad have been screaming that Iran is weeks away from having a bomb for thirty years now!
Before Identity politics and social media joined forces, people used to vote their economic interests. Back in the day, Democrats used to pretend to represent the interests of union workers. They always began their fall presidential campaigns with a rousing speech in Detroit to stir up unionized workers. That was before the Clintons, Al Gore and Joe Biden passed NAFTA (North American Free Trade Agreement) in 1993 which closed 80,000 US manufacturing plants. Obama bailed out General Motors by sending manufacturing jobs overseas so today the Democrats no longer start their presidential campaigns in Detroit.
Supposedly, we are in a post industrial society where your Identity is more important than anything tangible, such as, a job, a profession or a small business. But in reality we are in a bubble that is about to burst worldwide and not just in the US. Unfortunately, lots of foreign nations will be be taken down when the US collapses some time before November 2024.
In the 1930s Wassily Leontief did an empirical study of the American economy. He began with the outputs of extractive industries like mining, oil, timber and farming and traced those commodities to the industries that bought them and used them to make steel, gasoline, diesel and aluminum. Then he traced each layer of production to the next level. His conclusion was that America used its abundant resources and its skilled labor to add value to what they had extracted from the ground to give American workers a higher standard of living than their European brothers and sisters.
Arizona Republican gubernatorial candidate Kari Lake on Nov. 23 filed a lawsuit against Maricopa County.
Lake sued Stephen Richer, the county’s recorder, and other officials in Arizona Superior Court. She’s asking the court to compel the officials to promptly produce records on the administration of the midterm elections, which featured widespread issues in the state’s largest county.
“Given instances of misprinted ballots, the commingling of counted and uncounted ballots, and long lines discouraging people from voting, as demonstrated in the attached declarations, these records are necessary for Plaintiff to determine the full extent of the problems identified and their impacts on electors,” the 19-page suit states.
Maricopa County officials have acknowledged that tabulators across many polling sites stopped working properly on election day. Among the advised solutions was voters placing their ballots into a box to be counted later. Declarations attached to the new suit from poll observers say that workers mixed counted and uncounted ballots in the same container at the end of the night.
Another solution to the tabulator problem was a voter checking out of a site and utilizing a mail-in ballot. To try to figure out the extent of the problems, the Lake campaign on Nov. 15 requested information such as all records related to voters who checked into a site and who also submitted a ballot by mail. The campaign sent another request on Nov. 16. None of the records have been produced yet, which violates Arizona law that public record requests must be fulfilled “promptly,” the suit states.
"COMING SOON - Accelerate more powerfully: increase the torque and maximum output of your Mercedes-EQ," reads the description on the online store. It's available for all upcoming EQ electric models that will "improvement in acceleration of 0.8 to 1.0 seconds (0-60 MPH)."
According to The Wall Street Journal, the easing of sanctions is contingent on the implementation of a $3 billion humanitarian project that is expected to be announced by President Nicolas Maduro and his opposition this weekend. The project would be paid for with Venezuelan funds that have been seized by the US.
The license Chevron would be granted would still be limited as it would allow the oil company to regain partial control of its oil production in Venezuela, but it won’t be able to build new facilities until debts are repaid.
If you wanted to embody how the turkeys running things react when confronted with the fact that they voted for Thanksgiving and Christmas, it would be Bankman-Fraud being invited to speak at a New York Times event next week alongside Yellen, President Zelenskiy, and Ben Affleck/Batman. Alleged harems, billions of dollars in client money missing, and public accusations it was used as a personal and political piggy bank? Hey – have a seat alongside the global elite (and Batman) to say sorry and tell us about all the good things you did! Madoff obviously wasn’t available.
If only this nonsense were a one-off, but the market heads into the US Thanksgiving holiday in fine mood because ‘the Fed minutes were dovish’, confirming their wrong-all-year view. Yet the compromise between Fed doves, who are there, and Fed hawks, who are running things, is that while the pace of hikes will slow, the ultimate level of rates will be higher. If I carve you with a smaller knife, but more times, is that ‘dovish’? Try ‘turkey-ish’! Philip Marey, well ahead of the Street in calling a 5% peak, has his view here: he thinks 50bp is coming in December, but rates aren’t going down at all until 2024. That’s a sour cranberry, or real stuffing for some turkeys given Treasury yields fell after the minutes, and the dollar sold off.
Note the RBNZ flirted with 100bp yesterday before going a record 75, and are saying their overnight cash rate needs to hit 5.5%, even at the cost of 3-quarter recession. Yes, rates are contractionary there – and they want them to be: “Spend wisely this Christmas,” said Governor Orr as he signed off, literally encouraging Kiwis to not be turkeys, and to save, not spend. Likewise, the BOC governor just told parliament that Canadian rates need to rise even higher because inflation is not under control. Again, note the absence of turkeys.
Threatened by a new U.S. subsidy package that could hammer EU industry, Germany is rowing back on its long-standing objections to schemes like France's "Buy European Act" that would set provisions on buying goods locally.
Berlin's increasing sympathy for the French approach is a stark sign that Germany fears the traditional trade order is melting, as Washington follows China's lead with massive state support for industry. As one of the EU's more commercially liberal nations, Germany has generally opposed French proposals for interventionist industrial strategy, reckoning such measures would break free-trade taboos.
The calculus is now changing, however, ahead of a gathering of EU trade ministers in Brussels on Friday and a meeting between German Chancellor Olaf Scholz and French Prime Minister Elisabeth Borne in Berlin.
America's Inflation Reduction Act, which grants $369 billion worth of subsidies and tax breaks to U.S. green businesses, will be high on the agenda of both meetings. EU countries fear that the U.S. law will suck investment out of Europe, and are fuming about discriminatory provisions that encourage consumers to "Buy American" when it comes to purchasing an electric vehicle.
Last month’s decision by the members of OPEC+ to cut oil production by 2 million barrels per day sparked outrage in Washington. Prominent Democrats were furious, arguing that Saudi Arabia sought higher oil prices in order to weaken US-led sanctions on Russian fossil fuels, and also to benefit Republicans by inflating the cost of gasoline before the midterms.
The Saudis insisted that the production cut merely reflected an effort to prevent a future dip in oil prices and denied any intent to fill Vladimir Putin’s war chest or doom the Democrats’ electoral chances.
As it turns out, Democrats did better than expected in the November 8 voting. Nonetheless, Saudi Arabia’s conduct should still spur Congress to take action to reevaluate the US-Saudi partnership.
“The Western goal is to weaken, divide and ultimately destroy our nation. They are openly stating that, since they managed to break up the Soviet Union in 1991, now it’s time to split Russia into many separate regions that will be at each other’s throats.” Russian President Vladimir Putin
“Cheney ‘wanted to see the dismantlement not only of the Soviet Union and the Russian empire but of Russia itself, so it could never again be a threat to the rest of the world.’...The West must complete the project that began in 1991 …. Until Moscow’s empire is toppled, though, the region—and the world—will not be safe…”(“Decolonize Russia”, The Atlantic)
Washington’s animus towards Russia has a long history dating back to 1918 when Woodrow Wilson deployed over 7,000 troops to Siberia as part of an Allied effort to roll back the gains of the Bolshevik Revolution. The activities of the American Expeditionary Force, which remained in the country for 18 months, have long vanished from history books in the US, but Russians still point to the incident as yet another example of America’s relentless intervention in the affairs of its neighbors. The fact is, Washington elites have always meddled in Russia’s business despite Moscow’s strong objections. In fact, a great number western elites not only think that Russia should be split-up into smaller geographical units, but that the Russian people should welcome such an outcome.