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The TikTok Ban Is The Next Patriot Act

The TikTok Ban Is The Next Patriot Act

Authored by Aaron Sobczak via The Mises Institute,

HR 7521, called the Protecting Americans from Foreign Adversary Controlled Applications Act, is a recent development in American politics. TikTok has been in the news for the past few years, after the public became aware of its connections to China. The popular social media mobile app is currently owned by ByteDance Ltd, a Chinese company. China and the United States currently have a rocky relationship, leading to fears that the Chinese government could potentially use this app to spy on American citizens. Several states and counties voted to restrict the usage of the app in some ways, mostly disallowing government employees from using it on government-owned phones. Earlier this month, the United States Congress passed a piece of legislation that would restrict the app’s availability if certain requirements are not met by ByteDance.

Putting aside the idea that politicians rarely have pure motives, this act has the potential to be just as dangerous as the Patriot Act. With a supposed goal of protecting American national security, the Patriot Act granted sweeping permissions to the federal government and the National Security Agency to spy on American citizens, with far less due process. In addition to having the potential to violate privacy rights and the Fourth Amendment, this new act is a blatant attack on property rights. Mobile device manufacturers and owners have every right to install whatever software they would like, as it is their property. Any illusion of a right to national security is immediately contradicted as collective rights are positive in nature and thus not rights at all.

When looking through this act, several parts stick out.

It begins by restricting any entity from distributing, maintaining, or updating any application that is controlled by a foreign adversary. As skeptics of the state would point out, this is already problematic. It should be obvious that one cannot adequately trust the American national security regime to determine which countries or entities are adversarial. A recent egregious example would be when the United States was determined to paint Iraq, and Saddam Hussein, as a uniquely evil power that assisted with the events of 9/11. Additionally, one can point to how the Trump and Biden administrations supported covid lockdowns, thus making Americans who understood the Constitution and property rights look like enemies in the eyes of many. The state has proven itself to be incapable of telling Americans who or what they should fear.

The act then goes on to even ban the hosting of internet services that enable the use of these apps, furthering the state’s control over the internet. In addition to these fears of further government censorship, Senator Rand Paul has pointed out that many Americans own a stake in ByteDance; this restriction would mean that the government is taking away American property without suspicion of a crime. The act does not just restrict companies that are directly controlled by a foreign government but even companies that are owned by private citizens of an adversarial state. When it comes to government censorship, the Chinese government is the gold standard. The American government is following in the steps of the Chinese Communist Party. The Constitution and the natural-law-based rights that the United States was founded upon conflict greatly with this level of state censorship.

Setting aside any pretense of national security, this act will restrict competition in the American marketplace, if not incidentally. Companies such as Alphabet and Meta will benefit greatly from a huge decrease of competition in the social media marketplace. Additionally, foreign cooperation in the global marketplace serves to spread the values of capitalism and free expression. It is understood that free trade greatly reduces the risk of traditional warfare between states, resulting in greater global competition.

Further alienating states that are considered adversarial is shown to diminish peace.

This is seen in how Iran reacted to the end of the Joint Comprehensive Plan of Action, how North Korea positively reacted to President Donald Trump’s brief attempts to normalize diplomatic relations, and how Russia reacted to the expansion and aggression of the North Atlantic Treaty Organization.

While not quite as wide-ranging as the Patriot Act, this recent act is dangerous in multiple ways.

The natural rights to free expression, property, and privacy are at further risk with legislation such as this.

One can point to how this will greatly support very large companies such as Alphabet and Meta in the American marketplace, companies that have spied on American citizens on behalf of the Federal Bureau of Investigation.

Additionally, already-estranged nations are less likely to come to any sort of reasonable agreement as they are continually backed into a corner by the global community.

Skeptical Americans who are knowledgeable of history should not trust the American national security regime to properly determine who their enemies are, or the best way to keep Americans safe.

This legislation will only give increased power to the expansive state, power that the state has proven itself unable to use judiciously.

Tyler Durden
Thu, 05/09/2024 – 23:40

Visualizing The Tax Burden Of Every US State

Visualizing The Tax Burden Of Every US State

This map graphic visualizes the total tax burden in each U.S. state as of March 2024, based on figures compiled by WalletHub.

It’s important to understand that under this methodology, the tax burden measures the percent of an average person’s income that is paid towards state and local taxes. It considers property taxes, income taxes, and sales & excise tax.

Data and Methodology

The figures we used to create this graphic are listed in the table below.

State Total Tax Burden
New York 12.0%
Hawaii 11.8%
Vermont 11.1%
Maine 10.7%
California 10.4%
Connecticut 10.1%
Minnesota 10.0%
Illinois 9.7%
New Jersey 9.5%
Rhode Island 9.4%
Utah 9.4%
Kansas 9.3%
Maryland 9.3%
Iowa 9.2%
Nebraska 9.2%
Ohio 8.9%
Indiana 8.9%
Arkansas 8.8%
Mississippi 8.8%
Massachusetts 8.6%
Virginia 8.5%
West Virginia 8.5%
Oregon 8.4%
Colorado 8.4%
Pennsylvania 8.4%
Wisconsin 8.3%
Louisiana 8.3%
Kentucky 8.3%
Washington 8.0%
New Mexico 8.0%
Michigan 8.0%
North Carolina 7.9%
Idaho 7.9%
Arizona 7.8%
Missouri 7.8%
Georgia 7.7%
Texas 7.6%
Alabama 7.5%
Montana 7.5%
South Carolina 7.5%
Nevada 7.4%
Oklahoma 7.0%
North Dakota 6.8%
South Dakota 6.4%
Delaware 6.4%
Tennessee 6.1%
Florida 6.1%
Wyoming 5.7%
New Hampshire 5.6%
Alaska 4.9%

From this data we can see that New York has the highest total tax burden. Residents in this state will pay, on average, 12% of their income to state and local governments.

Breaking this down into its three components, the average New Yorker pays 4.6% of their income on income taxes, 4.4% on property taxes, and 3% in sales & excise taxes.

At the other end of the spectrum, Alaska has the lowest tax burden of any state, equaling 4.9% of income. This is partly due to the fact that Alaskans do not pay state income tax.

Hate Paying Taxes?

In addition to Alaska, there are several other U.S. states that don’t charge income taxes. These are: FloridaNevadaSouth DakotaTennesseeTexasWashington, and Wyoming.

It’s also worth noting that New Hampshire does not have a regular income tax, but does charge a flat 4% on interest and dividend income according to the Tax Foundation.

If you enjoyed this post, be sure to check out this graphic which ranks the countries with the lowest corporate tax rates, from 1980 to today.

Tyler Durden
Thu, 05/09/2024 – 23:20

Thursday Humor: What Is The Optimal Temperature For Global GDP Growth?

Thursday Humor: What Is The Optimal Temperature For Global GDP Growth?

Authored by Mike Shedlock via MishTalk.com,

A group of climate alarmists have concluded that global GDP will be 23 percent lower on the current path.

I was aware of the ridiculous article when it came out.

I stopped reading when I noted that all countries were all given equal weighting. For example, Nigeria has the same weight as the US.

The authors tried to mitigate this in various ways but it was obvious that the authors would bend the data and the report to match their goals.

Today, I am pleased to present a complete and thorough trashing of the Nature article.

Please consider Global Non-Linear Effect of Temperature on Economic Production: Comment on Burke, Hsiang, and Miguel by David Barker, emphasis mine.

The journal Nature published an influential article in 2015 by Marshall Burke, Solomon M. Hsiang, and Edward Miguel (hereafter BHM) purporting to show that higher temperatures will lower economic growth in warm countries.

The Web of Science reports that the paper is in the top six one hundredths of one percent of economics and business publications by citations, and Google Scholar shows 2,269 citations. BHM (2015) also received significant attention in the popular press. Hsiang further developed this work and cowrote a chapter of the National Climate Assessment (Hsiang et al. 2023) claiming that higher temperatures would reduce the rate of economic growth.

BHM’s analysis is shallow and misleading. The authors use data with characteristics that are known to create spurious regression results without making proper adjustments or even acknowledging these characteristics. They estimate parameters of a quadratic curve relating temperature to growth, and then cherrypick countries to include in a chart that appears to confirm the shape of this curve. The curve is then used to project growth rates into the distant future using temperature scenarios that a more recent comment in Nature described as either “extremely unlikely” or “unlikely”.

Description of BHM (2015)

BHM (2015) use annual data representing 166 countries from 1961 to 2010 on temperature and economic growth. All countries are equally weighted, and every country is assigned a single average temperature for each year. Because some data are missing, there is a total of 6,584 country/year observations instead of the 8,300 that could be used if data from all years in all countries were available.

The headline result of a 23 percent reduction in GDP comes from taking each country’s projected GDP per capita with and without climate change, then taking the weighted average by population, and then taking the percentage difference between the weighted sum with and without climate change.

The headline result, that warming will reduce global GDP per capita by 23 percent, is more than double the mean estimate of BHM’s bootstrap estimation, which they do not report. BHM claim that their result is “globally representative”, but it does not hold without Greenland and the regions of the Sahara and Central Africa, and it does not hold in large regions of the world. Simulations support the hypothesis that spatial autocorrelation may be the cause of BHM’s results, and robustness checks also suggest that their results may be spurious. BHM has been the subject of methodological criticism (Newell et al. 2021; Tol 2019; Rosen 2019), but my paper is the first to precisely document its deceptive practices.

Thesis Falls Apart

Barker notes that if you remove Greenland and regions of the Sahara and Central Africa from the analysis, the entire BHM thesis falls apart.

He also comments on dummy variables and notes that if the analysis started one year earlier, the BHM thesis also falls apart.

On the geek side, Barker notes “Any data, no matter how noisy, will generate a smooth quadratic curve if one variable is regressed on another and its square and the predicted values of the dependent variable are plotted against possible values of the independent variable.”

Thus, the nice smooth graphs of BHM are automatic by design.

Regarding the lead chart, Barker says “Five countries are cherry-picked to make the relationship appear to be significant. While the figure is not a crucial part of BHM’s analysis, it is indicative of the misleading approach of the paper, and suggests alternative methods of measuring the relationship between growth and temperature.

Much of his rebuttal is complex and not light reading. I picked some highlights that I thought would be generally understandable.

Optimal Temperature

I am confident there is no such a thing as an optimal global temperature. Such a belief precludes technology advances that can mitigate climate impacts.

At best, an optimal temperature is unknowable and changing. And it’s ridiculous to believe we could or should try to hit the optimal temperature even if it exists.

It’s clear BHM had an agenda and manipulated the dates, the countries, the years included, and the dummy variables to produce the desired result.

Forcing the Data to Meet the Non-Science

BHM forced the data not to meet the science, but to meet a belief in non-science. I fail to see what they gain by this.

At best, they now look like a pack of incompetent scientists, and at worst a pack of complete liars.

Cheers From the Cult

The people BHM address are in the same cult and need no convincing. OK, BHM got cheers from the cult. If that was the goal, congrats.

But if the goal was to convince the skeptics, they failed miserably.

Some of us saw through the nonsense right from the beginning. And now we have a stellar rebuttal from David Barker to back us up.

March to Madness Continues

The lie of the day is from the EPA: Carbon capture will pay for itself (thanks to IRA subsidies). No, it won’t even with subsidies. Expect blackouts and a higher price for electricity.

In case you missed it, please see Biden’s New Carbon Capture Mandates Will Cause Blackouts, Increases Prices

The march to energy madness continues.

Tyler Durden
Thu, 05/09/2024 – 23:00

Chris Cuomo Admits Taking “Regular” Doses Of Ivermectin After Previously Saying Those Who Took It Should Be “Shamed”

Chris Cuomo Admits Taking “Regular” Doses Of Ivermectin After Previously Saying Those Who Took It Should Be “Shamed”

After once claiming on air that people taking ivermectin should be “shamed”, Chris Cuomo has done an about face on the drug, admitting on the PBD Podcast this week that he is taking a regular dose of it to deal with long Covid. 

In January, Cuomo revealed he’s dealing with “long COVID,” the lasting effects of a previous infection. On the PBD Podcast hosted by Patrick Bet-David, the NewsNation host said he’s using antiviral medication to combat inflammation and “brain fog.”

He said: “I’ll tell you something else that’s gonna get you a lot of hits. I am taking … a regular dose of Ivermectin. Ivermectin was a boogeyman during COVID. That was wrong. We were given bad information about Ivermectin. The real question is, why?”

Why, Chris? Perhaps its because you and Don Lemon were on-air daily providing a constant stream of misinformation about the drug?

He continued: “Everyone’s going to say ‘Joe Rogan was right. No, Joe Rogan was saying – yeah, he was right – that’s not what matters. What matters is, the entire medical community knew that Ivermectin couldn’t hurt you. They knew it … I know they knew it.”

“How do I know? Because now I’m doing nothing but talking to these clinicians, who at the time were overwhelmed by COVID, and they weren’t saying anything!”

But back during the pandemic, Cuomo took to the air to widely discredit ivermectin, despite it appears on the WHO’s List of Essential Medicines and having been dosed for humans millions of times. 

Cuomo said during the pandemic:  “What person – you know you talk about cancel culture and who to shame – Ivermectin? A de-wormer? Really? … they need to be shamed. They need to be called out and shamed, brother.”

Like all ridiculous liberal talking points, the truth tends to emerge only when involves the well-being of those espousing lessons on how others should live their lives. Cuomo now says about ivermectin: “It’s cheap, it’s not owned by anybody, and it’s used as an anti-microbial, antiviral and has been for all these different ways, and has been for a long time.”

 “My doctor was using it during COVID on her family and on her patients, and it was working for them. So. They were wrong to play scared on that. Didn’t know that at the time. Know it now, admit it now, reporting on it now.”

Back in August 2023, when we published “The Unforgiveable Ivermectin Swindle“, we noted…the truth finds a way to make its way out eventually.

Tyler Durden
Thu, 05/09/2024 – 22:40

Chinese Stock Rally Likely To Stall Without Robust Earnings

Chinese Stock Rally Likely To Stall Without Robust Earnings

By Henry Ren, Bloomberg Markets Live reporter and strategist

Earnings for China Inc. are looking somewhat better, though likely not enough to keep fueling the recent stock market rally.

Strategists say the bounce spurred by low valuations needs a full-blown earnings recovery to continue. Remember the lesson from China’s Covid reopening trade, which began favorably in late 2022 and lasted only three months.

During that period when the MSCI China Index rallied 59% from trough to peak, analysts raised forward earnings expectations by about 10%. However, earnings revisions turned negative starting in February 2023, and Chinese stocks never managed to regain their strength.

This year, after a 25% rebound from the bottom in January, Chinese stocks are once again at a tipping point, with investors turning to earnings for potential catalysts. First-quarter reports so far are decidedly mixed.

Firms listed on the mainland have recorded a 4% decline in earnings as their gross profit margins lingered at low levels, according to UBS strategists. It’s a similar picture for MSCI China components.

Companies making up a third of the benchmark index posted a 5% drop in sales, JPMorgan cautioned in a May 1 note.

Next week’s reports from big-cap internet companies probably will determine how this earnings season registers on the index level. Weak retail sales growth in March and a decline in per-capita tourist spending during the May 1-5 national holiday are bad omens for the sector, which is highly affected by consumer sentiment.

Better earnings are critically important, especially at a time when tailwinds that lifted Chinese stock gauges into bull territory are tapering off. The MSCI China Index is now technically overbought for the first time since January 2023.

Meanwhile, Japanese equities have stabilized and US markets have digested the idea that fewer Federal Reserve rate cuts are coming, reducing the urgency for global funds to diversify away from developed markets.

But it’s not all doom and gloom. The number of mainland-listed firms missing estimates declined this reporting season, and large-cap stocks are undergoing more upward earnings revisions, according to Morgan Stanley strategists led by Laura Wang.

Some select industries still show signs of improvement, despite macro data being “weak and mixed,” said Vivian Lin Thurston, a fund manager at William Blair Investment Management in Chicago. Export-driven companies and appliance makers have stood out, she noted.

Still, more patience is required if the recovery is to broaden. “What we do have is some better news on some specific sectors because the expectations are very low,” said Societe Generale strategist Frank Benzimra. “But it’s just too early to say that this is a sustainable upturn.”

Tyler Durden
Thu, 05/09/2024 – 22:20

How People Get Around In America, Europe, And Asia

How People Get Around In America, Europe, And Asia

This chart, via Visual Capitalist’s Pallavi Rao, highlights the popularity of different transportation types in the Americas, Europe, and Asia, calculated by modal share.

Data for this article and visualization is sourced from ‘The ABC of Mobility’, a research paper by Rafael Prieto-Curiel (Complexity Science Hub) and Juan P. Ospina (EAFIT University), accessed through ScienceDirect.

The authors gathered their modal share data through travel surveys, which focused on the primary mode of transportation a person employs for each weekday trip. Information from 800 cities across 61 countries was collected for this study.

North American Car Culture Contrasts with the Rest of the World

In the U.S. and Canada, people heavily rely on cars to get around, no matter the size of the city. There are a few exceptions of course, such as New York, Toronto, and smaller college towns across the United States.

Note: *Excluding Mexico. Percentages are rounded.

As a result, North America’s share of public transport and active mobility (walking and biking) is the lowest amongst all surveyed regions by a significant amount.

On the other hand, public transport reigns supreme in South and Central America as well as Southern and Eastern Asia. It ties with cars in Southeastern Asia, and is eclipsed by cars in Western Asia.

As outlined in the paper, Europe sees more city-level differences in transport popularity.

For example, Utrecht, Netherlands prefers walking and biking. People in Paris and London like using their extensive transit systems. And in Manchester and Rome, roughly two out of three journeys are by car.

Tyler Durden
Thu, 05/09/2024 – 22:00

Democrats Attack Judge For Delaying Trump Florida Trial

Democrats Attack Judge For Delaying Trump Florida Trial

Authored by Jonathan Turley,

While pundits, politicians and the press have long expressed outrage over attacks on judges by former President Donald Trump, many are now attacking any judge who delays any trial of Trump before the election. Democrats have accused Judge Aileen Cannon of being politically compromised, if not conspiratorial, in her delay of the Florida trial over the mishandling of classified documents. Yet, there is ample reason for the delay that many of us anticipated in this type of case when it was filed.

For months, many of us have said that we doubt that this type of trial could be held on the rapid schedule demanded by Special Counsel Jake Smith. Smith has repeatedly sought to curtail trial review and even appellate rights of Trump to advance his schedule.

His office has made convicting Trump before the election the overriding objective of its motion — a sharp departure from past Justice Department efforts to avoid trials to influence elections.

As a criminal defense counsel, I have handled classified material cases and they are notoriously slow. Smith could have prosecuted this case in the shorter time frame if he simply charge obstruction. That would have also eliminated the glaring contrast with the handling of the Biden investigation into the current president’s retention and mishandling of classified material.

Smith decided to charge an array of document charges related to classified material. The defense must have access, review, and can appeal issue related to the classified procedures. Yet, Smith wanted both the array of document charges and a fast track to trial. The Supreme Court has agreed with Cannon that Smith desire to secure a conviction before the election is not the overriding consideration.

Judge Cannon is faced with recent admissions that the government mixed up files in the boxes and staged the famous photos of document strewn over a floor with classified jackets.

Most importantly, disputes over the relevant documents continues as expected in the case.

Nevertheless, leading democrats are denouncing Cannon as a partisan hack.

Sen. Sheldon Whitehouse (D-R.I.), the chair of the Senate Judiciary Committee’s subcommittee on federal courts and oversight subcommittee, said accused Cannon of “deliberately slow-walking the case.” Ignoring the fact that similar cases have taken much longer to go to trial, Whitehouse simply declared “it is hard for me not to reach the conclusion that this [judge] is deliberately slow-walking the case to put it into a position where should [Trump] be elected, he can order that the investigation and prosecution be terminated.”

His colleague Sen. Chris Coons (D-Del.) insisted that Cannon was “managing this case in a way that is making it highly unlikely that it will be resolved in a timely fashion.”

Coons added “Justice deferred is often justice denied.” It is a bizarre statement. Classified documents cases routinely take longer to go to trial. The alternative is to cut off the ability of the defense to fully review the documents and review objections for resolution before trial. Yet, because the defendant is Trump and these Democrats want the trial to influence the election, such defense protections are now evidence of judicial bias.

They, of course, ignore that Cannon has ruled repeatedly against major Trump motions in the case.

Sen. Peter Welch (D-Vt.), a member of the Judiciary Committee, said Cannon’s “at it again, doing everything she can to delay.”

Sen. Richard Blumenthal (D-Conn.), offered the most telling line. He said “I question whether this judge understands the magnitude or the legal import of this trial.”

Indeed, it is the timing as much as the charges that makes this so important to the Justice Department and the Democrats. Smith has crafted this case to impact the election and the failure of the court to support that effort is apparently grounds for recusal.

Blumenthal called for such a motion before the window is lost before the election: “It’s a classic dilemma for justice that a particular judicial officer may be conducting a trial that could be better done by somebody else.”

Despite the statement of his colleague Coons, this is a case where justice delayed is justice.

Tyler Durden
Thu, 05/09/2024 – 21:40

Manhattan Apartment Rents Gain Momentum, Signal Potential Record Highs This Summer

Manhattan Apartment Rents Gain Momentum, Signal Potential Record Highs This Summer

While the rent component of the consumer price index has shown a strong disinflationary trend since peaking in the summer of 2023, high-frequency data reveals rent prices in key metro areas are moving higher. 

Several high-frequency rental data points show that the cost of signing a new lease on a house or apartment is rising again despite decelerating rent component print in the March Consumer Price Index

Let’s begin with Manhattan apartment rents, hitting a new record for April, Bloomberg reported, citing a new report from appraiser Miller Samuel Inc. and brokerage Douglas Elliman Real Estate.

New leases signed in April topped an average of $4,250, up $9 from last April. Overall, prices peaked at $4,440 last August, sliding marginally in the fall months, and have since moved higher at the start of the year. 

Source: Bloomberg

“The question is whether we’re going to beat last summer’s all-time highs,” said Jonathan Miller, president of Miller Samuel. 

Miller pointed out that rents are likely to “beat last summer’s all-time highs” given their current trajectory and momentum.  

Looking at CoreLogic data, its latest Single-Family Rent Index, which examines single-family rent price changes nationally and across major cities, “regained strength in February, posting the highest annual appreciation since April 2023,” according to Molly Boesel, principal economist at CoreLogic. 

CPI rents will be deflationary as they catch up to lagged real-time indicators. However, if high-frequency data continues moving upward, there’s a risk CPI rents could turn back up later this year. 

If this is the case, then potentially more bad news for Bidenomics and Federal Reserve Chairman Jerome Powell, who is enabling this fiscal trainwreck as inflation continues to crush working poor households. 

Recall, earlier this week, Stan Druckenmiller told CNBC’s Joe Kernen that he rates Bidenomics an “F.”

Tyler Durden
Thu, 05/09/2024 – 21:20

Virtual Home Invasions: We’re Not Safe From Government Peeping Toms

Virtual Home Invasions: We’re Not Safe From Government Peeping Toms

Authored by John & Nisha Whitehead via The Rutherford Institute,

“The privacy and dignity of our citizens is being whittled away by sometimes imperceptible steps. Taken individually, each step may be of little consequence. But when viewed as a whole, there begins to emerge a society quite unlike any we have seen—a society in which government may intrude into the secret regions of man’s life at will.”

– Justice William O. Douglas

The spirit of the Constitution, drafted by men who chafed against the heavy-handed tyranny of an imperial ruler, would suggest that one’s home is a fortress, safe from almost every kind of intrusion.

Unfortunately, a collective assault by the government’s cabal of legislators, litigators, judges and militarized police has all but succeeded in reducing that fortress—and the Fourth Amendment alongside it—to a crumbling pile of rubble.

We are no longer safe in our homes, not from the menace of a government and its army of Peeping Toms who are waging war on the last stronghold of privacy left to us as a free people.

The weapons of this particular war on the privacy and sanctity of our homes are being wielded by the government and its army of bureaucratized, corporatized, militarized mercenaries.

Government agents—with or without a warrant, with or without probable cause that criminal activity is afoot, and with or without the consent of the homeowner—are now justified in mounting virtual home invasions using surveillance technology—with or without the blessing of the courts—to invade one’s home with wiretaps, thermal imaging, surveillance cameras, aerial drones, and other monitoring devices.

Just recently, in fact, the Michigan Supreme Court gave the government the green light to use warrantless aerial drone surveillance to snoop on citizens at home and spy on their private property.

While the courts have given police significant leeway at times when it comes to physical intrusions into the privacy of one’s home (the toehold entry, the battering ram, the SWAT raid, the knock-and-talk conversation, etc.), the menace of such virtual intrusions on our Fourth Amendment rights has barely begun to be litigated, legislated and debated.

Consequently, we now find ourselves in the unenviable position of being monitored, managed, corralled and controlled by technologies that answer to government and corporate rulers.

Indeed, almost anything goes when it comes to all the ways in which the government can now invade your home and lay siege to your property.

Consider that on any given day, the average American going about his daily business will be monitored, surveilled, spied on and tracked in more than 20 different ways, by both government and corporate eyes and ears.

A byproduct of this surveillance age in which we live, whether you’re walking through a store, driving your car, checking email, or talking to friends and family on the phone, you can be sure that some government agency is listening in and tracking your behavior.

This doesn’t even begin to touch on the corporate trackers that monitor your purchases, web browsing, Facebook posts and other activities taking place in the cyber sphere.

Stingray devices mounted on police cars to warrantlessly track cell phones, Doppler radar devices that can detect human breathing and movement within in a home, license plate readers that can record up to 1800 license plates per minutesidewalk and “public space” cameras coupled with facial recognition and behavior-sensing technology that lay the groundwork for police “pre-crime” programspolice body cameras that turn police officers into roving surveillance cameras, the internet of things: all of these technologies (and more) add up to a society in which there’s little room for indiscretions, imperfections, or acts of independence—especially not when the government can listen in on your phone calls, read your emails, monitor your driving habits, track your movements, scrutinize your purchases and peer through the walls of your home.

Without our realizing it, the American Police State passed the baton off to a fully-fledged Surveillance State that gives the illusion of freedom while functioning all the while like an electronic prison: controlled, watchful, inflexible, punitive, deadly and inescapable.

Nowhere to run and nowhere to hide: this is the mantra of the architects of the Surveillance State and their corporate collaborators.

Government eyes see your every move: what you read, how much you spend, where you go, with whom you interact, when you wake up in the morning, what you’re watching on television and reading on the internet.

Every move you make is being monitored, mined for data, crunched, and tabulated in order to amass a profile of who you are, what makes you tick, and how best to control you when and if it becomes necessary to bring you in line.

Cue the dawning of the Age of the Internet of Things (IoT), in which internet-connected “things” monitor your home, your health and your habits in order to keep your pantry stocked, your utilities regulated and your life under control and relatively worry-free.

The key word here, however, is control.

In the not-too-distant future, “just about every device you have—and even products like chairs, that you don’t normally expect to see technology in—will be connected and talking to each other.”

By the end of 2018, “there were an estimated 22 billion internet of things connected devices in use around the world… Forecasts suggest that by 2030 around 50 billion of these IoT devices will be in use around the world, creating a massive web of interconnected devices spanning everything from smartphones to kitchen appliances.”

As the technologies powering these devices have become increasingly sophisticated, they have also become increasingly widespread, encompassing everything from toothbrushes and lightbulbs to cars, smart meters and medical equipment.

It is estimated that 127 new IoT devices are connected to the web every second.

These Internet-connected techno gadgets include smart light bulbs that discourage burglars by making your house look occupied, smart thermostats that regulate the temperature of your home based on your activities, and smart doorbells that let you see who is at your front door without leaving the comfort of your couch.

Nest, Google’s suite of smart home products, has been at the forefront of the “connected” industry, with such technologically savvy conveniences as a smart lock that tells your thermostat who is home, what temperatures they like, and when your home is unoccupied; a home phone service system that interacts with your connected devices to “learn when you come and go” and alert you if your kids don’t come home; and a sleep system that will monitor when you fall asleep, when you wake up, and keep the house noises and temperature in a sleep-conducive state.

The aim of these internet-connected devices, as Nest proclaims, is to make “your house a more thoughtful and conscious home.” For example, your car can signal ahead that you’re on your way home, while Hue lights can flash on and off to get your attention if Nest Protect senses something’s wrong. Your coffeemaker, relying on data from fitness and sleep sensors, will brew a stronger pot of coffee for you if you’ve had a restless night.

Yet given the speed and trajectory at which these technologies are developing, it won’t be long before these devices become government informants, reporting independently on anything you might do that runs afoul of the Nanny State.

Moreover, it’s not just our homes and personal devices that are being reordered and reimagined in this connected age: it’s our workplaces, our health systems, our government, our bodies and our innermost thoughts that are being plugged into a matrix over which we have no real control.

It is expected that by 2030, we will all experience The Internet of Senses (IoS), enabled by Artificial Intelligence (AI), Virtual Reality (VR), Augmented Reality (AR), 5G, and automation. The Internet of Senses relies on connected technology interacting with our senses of sight, sound, taste, smell, and touch by way of the brain as the user interface. As journalist Susan Fourtane explains:

Many predict that by 2030, the lines between thinking and doing will blur. Fifty-nine percent of consumers believe that we will be able to see map routes on VR glasses by simply thinking of a destination… By 2030, technology is set to respond to our thoughts, and even share them with others… Using the brain as an interface could mean the end of keyboards, mice, game controllers, and ultimately user interfaces for any digital device. The user needs to only think about the commands, and they will just happen. Smartphones could even function without touch screens.

Once technology is able to access and act on your thoughts, not even your innermost thoughts will be safe from the Thought Police.

Thus far, the public response to concerns about government surveillance has amounted to a collective shrug. Yet when the government sees all and knows all and has an abundance of laws to render even the most seemingly upstanding citizen a criminal and lawbreaker, then the old adage that you’ve got nothing to worry about if you’ve got nothing to hide no longer applies.

To our detriment, we are fast approaching a world without the Fourth Amendment, where the lines between private and public property are so blurred that private property is reduced to little more than something the government can use to control, manipulate and harass you to suit its own purposes, and you the homeowner and citizen have been reduced to little more than a tenant or serf in bondage to an inflexible landlord.

When people talk about privacy, they mistakenly assume it protects only that which is hidden behind a wall or under one’s clothing. The courts have fostered this misunderstanding with their constantly shifting delineation of what constitutes an “expectation of privacy.” And technology has furthered muddied the waters.

However, privacy is so much more than what you do or say behind locked doors. It is a way of living one’s life firm in the belief that you are the master of your life, and barring any immediate danger to another person (which is far different from the carefully crafted threats to national security the government uses to justify its actions), it’s no one’s business what you read, what you say, where you go, whom you spend your time with, and how you spend your money.

As Glenn Greenwald notes:

The way things are supposed to work is that we’re supposed to know virtually everything about what [government officials] do: that’s why they’re called public servants. They’re supposed to know virtually nothing about what we do: that’s why we’re called private individuals. This dynamic—the hallmark of a healthy and free society—has been radically reversed. Now, they know everything about what we do, and are constantly building systems to know more. Meanwhile, we know less and less about what they do, as they build walls of secrecy behind which they function. That’s the imbalance that needs to come to an end. No democracy can be healthy and functional if the most consequential acts of those who wield political power are completely unknown to those to whom they are supposed to be accountable.”

As I make clear in my book Battlefield America: The War on the American People and in its fictional counterpart The Erik Blair Diaries, none of this will change, no matter which party controls Congress or the White House, because despite all of the work being done to help us buy into the fantasy that things will change if we just elect the right candidate, we’ll still be prisoners of the electronic concentration camp.

Tyler Durden
Thu, 05/09/2024 – 21:00

Visualizing The Copper Investment Opportunity In One Chart

Visualizing The Copper Investment Opportunity In One Chart

Copper is essential for clean energy applications such as solar panels, wind turbines, and electric vehicles (EVs), as well as for expanding electrical grids.

The surge in demand for the metal, driven by the growing adoption of these technologies, presents a unique investment opportunity for early investors in copper mining companies.

Visual Capitalist’s Bruno Venditti introduces this chart by Sprott exploring the growing gap between copper supply and demand until 2050, based on projections from BloombergNEF’s Transition Metals Outlook 2023.

Projected Copper Supply vs. Demand

Copper is naturally abundant on Earth, but extracting the metal at the pace necessary for an electrified economy could be a challenge. The timeline for bringing a copper mine from discovery to production is lengthy, averaging over 16 years.

Top producers like Chile and Peru are facing strikes and protests, along with declining ore grades. Russia, ranked seventh in copper production, faces an expected decline in production due to the ongoing war in Ukraine.

Meanwhile, the increasing adoption of carbon-free technology only highlights copper’s significance. 

High Demand for Transport and Electricity Grid

The demand for copper in the transport sector is projected to increase by 11.1 times by 2050, from 2022. EVs, for example, can contain more than a mile of copper wiring.

Additionally, the demand for copper needed to expand the global electricity grid is projected to increase by 4.8 times by 2050, from 2022.

By 2030, the copper supply gap is projected to approach 10 million metric tons, with both copper prices and copper mining stocks potentially set to benefit.

As the world embraces clean technologies, the search for and expansion of copper mines will be essential. Early investors who gain exposure to copper miners may benefit from the rapidly increasing demand.

Sprott offers convenient exchange-traded alternatives for investors seeking exposure to copper miners. 

Tyler Durden
Thu, 05/09/2024 – 20:40