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Beijing Soon Needs A Whatever-It-Takes Policy Move

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Beijing Soon Needs A Whatever-It-Takes Policy Move

By George Lei and Ye Xie, Bloomberg markets live reporters and strategist

China’s benchmark CSI 300 index surged 5.5% on Monday as authorities unveiled a slew of supportive measures, including a reduction of the stamp duty. By the end of the session, the efforts had fallen flat with investors and the gauge had pared its gain to just 1.2%.

That price action suggests Beijing urgently needs to make a “whatever-it-takes” move — similar to the ECB’s open-ended commitments to saving the common currency in 2011 — or else risks further asset weakness.

The CSI 300 index’s early rally of as much as 5.5% sputtered during the session, with the gauge closing just 1.2% higher. That’s quite the rarity: There have been only three past occasions since 2004 when the equity index soared over 5 percentage points and then pared the gain by 4 percentage points.

Two of those episodes occurred during the 2008 global financial crisis. One happened in 2015 when China’s stock bubble burst. While history shows that the gauge often recovered in the week and month after such volatility, the index fell over the following 60 days in two of the three past instances.

The government has previously delivered massive stimulus to shore up not just financial markets, but also the real economy. During the 2008-2009 crisis, Beijing launched a 4-trillion yuan ($548 billion) spending package. And a program where the PBOC provided cash for policy lenders to finance urban renewal helped turn around a slumping property market in 2015. This time, however, a solution appears to be trickier.

Beijing has stepped up its efforts over the past weekend to lift stocks and rescue the property market, according to Ting Lu, chief China economist at Nomura. Still, “the impact will be short-lived if these measures are not followed by measures for supporting the real economy,” he warned in a client note on Monday. In fact, Hong Kong-based investors have turned into net sellers of onshore Chinese equities throughout August, in contrast to a couple days of brief inflows in late July following positive signals from the politburo meeting.

Forecasts for China’s 2023 and 2024 GDP have been slashed on Wall Street over the past few weeks. The world’s second largest economy now risks missing Beijing’s own growth target for a second straight year and could expand at a sub-5% pace for three years in a row — something unheard of since the death of Mao Zedong in 1976. The sheer scale of the challenge calls for unprecedented policy actions, akin to the Fed’s commitment to purchasing “unlimited amounts of Treasury bonds” in March 2020 or Mario Draghi’s famous line 11 years ago: “The ECB is ready to do whatever it takes to preserve the euro.”

Beijing’s responses have so far been underwhelming and investors are keeping their hopes low after repeated disappointments over the past few years. A Bloomberg MLIV survey of 455 respondents found only 11% look forward to “really big, bazooka-like” stimulus, while more than half expect moderate steps that target specific industries. In a Bank of America survey two weeks ago, only 3% of those polled saw a stronger yuan in the next three months as a result of “policy stimulus restoring growth momentum.” If Beijing cannot surprise investors amid such a low threshold of expectations, Chinese markets are probably headed for further selloffs.

Tyler Durden
Mon, 08/28/2023 – 23:00

Watch: Robo-Forklifts That Can’t Get Sick Nor Unionize Hit Warehouse Floors

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Watch: Robo-Forklifts That Can’t Get Sick Nor Unionize Hit Warehouse Floors

By the 2030s, or even sooner, robots might dominate warehouses, displacing millions of jobs. In the latest wave of automation advancements, a Japanese tech firm has just unveiled a self-driving forklift. 

Japan’s only public broadcaster (NHK) said NEC Corporation developed an industrial forklift powered by AI that allows intelligent, real-time decisions, delivering materials on the warehouse floor to the right place at the right time. 

“Of these, NEC developed a system that makes forklifts automatically operate, and is characterized by the fact that it can be operated unmanned by attaching cameras and sensors later,” NHK said. 

NEC said the goal of the robot forklift is to “alleviate the labor shortage in the logistics field and reviewing long working hours, and plans to put it into practical use next fiscal year.”

“I want to contribute to creating a better environment at the same time as making the warehouse site run smoothly,” said Junichiro Yonetake of NEC’s DX Offering Management Department.

Yet we all know the proliferation of automation in warehouses will result in job loss in the millions, if not more, in the years ahead. We’ve explained for years when this ill-fated day will arrive for human warehouse workers:

In March, a note titled “AI Will Lead To 300 Million Layoffs In The US And Europe” was shared with our pro subscribers. It detailed the jobs currently at risk due to AI and automation.

Remember, robots don’t get sick, nor can they unionize.

Tyler Durden
Mon, 08/28/2023 – 22:40

US Knew Saudis Were Slaughtering African Migrants At Border But Kept Quiet

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US Knew Saudis Were Slaughtering African Migrants At Border But Kept Quiet

Authored by Dave DeCamp via AntiWar.com,

The Biden administration has been aware since last year that Saudi border guards were slaughtering African migrants on Saudi Arabia’s border with Yemen but kept quiet about the killings, The New York Times reported on Saturday.

Sources told the Times that American diplomats were made aware of the news last fall, around the time the US was publicly condemning Riyadh for agreeing to OPEC+ oil production cuts. The administration did not make any public comments about the reported killings.

Ethiopian migrants on Yemen’s coast, via AP.

The administration received more details about the atrocities in December 2022 when the UN presented information about Saudi forces shooting, shelling, and abusing Ethiopian migrants at the border, but the US still kept quiet.

After Human Rights Watch released a report last week that said Saudi border guards killed hundreds — possibly thousands — of Ethiopian migrants between March 2022 and June 2023, the Biden administration insisted that it “raised concerns” with Riyadh about the report. For their part, Riyadh denied the allegations.

Last month, the Mixed Migration Center (MMC) released a similar report that said Saudi border forces killed at least 800 Ethiopian migrants, and over 1,700 were injured. The Saudi guards used mortar shells and small arms to attack the Ethiopians. There were also reports of rape and torture.

According to The Washington Post, Saudi border guards are trained by the US as part of military cooperation between the two nations. The mass slaughter of civilians by US-backed Saudi forces is nothing new, as Riyadh frequently targeted civilians in its war in Yemen using US-made bombs and aircraft. In January 2022, Saudi airstrikes hit a migrant detention center in Sadaa, Yemen, killing at least 91 civilians and injuring 236 more.

Since last fall, when President Biden vowed “consequences” for Riyadh over the oil cuts, his administration has backed off on its criticism of the kingdom as it seeks to clinch a Saudi-Israeli normalization deal.

Saudi Arabia is demanding new security guarantees from the US as a condition for normalization that could go as far as NATO’s Article 5, which would mean Washington treating attacks on the kingdom as attacks on the US.

Tyler Durden
Mon, 08/28/2023 – 22:20

Content Overload: Streaming Libraries Balloon 39% In Two Years

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Content Overload: Streaming Libraries Balloon 39% In Two Years

Binge-watching TV shows, movies, and documentaries on streaming platforms is like a drug… 

So, what do drug dealers streaming companies do when customers demand more? 

Give the customer what they want: A 39% increase in TV shows, movies, and documentaries on streaming platforms in two years, according to Bloomberg, citing a new report from market researcher Nielsen. 

Nielsen said the number of titles on streaming services surged to 2.35 million. The figure increases to 2.7 million when traditional broadcast and cable channel viewing operations are factored in. This content is only available across the Western world, primarily in the US, Canada, the UK, Mexico, and Germany. 

“Netflix and Disney+ are among 167 streaming providers, up from 118 two years ago. The average time it takes someone to find something to watch has risen to more than 10 minutes from a little over seven minutes in 2019,” Nielsen said.

Streaming companies played the long game, pumping out an enormous amount of TV shows, movies, and documentaries over the years for a small monthly fee — a move to get viewers hooked on their content. Dive deep into the bio-chemistry. Turns out, TV addiction isn’t just psychological; it’s biological. Your brain pumps out dopamine while you binge-watch, making the experience pleasurable and rewarding. 

But as any drug dealer would do… They eventually raise prices, and as we found out last week, ‘streamflation’ has led to a surge in customers wanting to cancel their Hulu And Disney+ accounts. It might be hard for some to cold turkey the ‘streaming drug.’ 

Tyler Durden
Mon, 08/28/2023 – 22:00

Recent Mask Mandates Lifted Amid Pushback

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Recent Mask Mandates Lifted Amid Pushback

Authored by Jack Phillips via The Epoch Times (emphasis ours),

Kaiser Permanente in Santa Rosa, California, on Aug. 24 reversed a recent policy that would require masks in its hospital after it reinstated the mandate days before. A Hollywood studio also said it would do away with its mandate.

People wear masks as they walk in a shopping district in the Hollywood section of Los Angeles on July 1, 2021. (Marcio Jose Sanchez/AP Photo)

Officials for the hospital system told the Santa Rosa Press Democrat that the mask policy applies only to staff, not patients. It said that it is “strongly encouraging masks for patients, members, and visitors in the hospital and medical offices in the Santa Rosa Service Area in response to this latest increase in COVID-19 cases.”

“Our intent was to communicate that as of Tuesday, we have expanded the masking requirement for our employees and physicians to medical offices and clinic settings; we apologize for any confusion among Press Democrat readers,” Kaiser said in its latest statement.

The statement also said that “visitors, patients, and members are strongly encouraged to also wear masks in these settings,” according to the paper. “We have not changed our masking requirements in the hospital, which have been in effect since April: employees and physicians are required to wear masks and we ask visitors to wear masks when in the hospital.”

It doesn’t appear that Kaiser Permanente, which operates hospitals across the United States and California, would also attempt to reinstate mask mandates at other locations.

Days before its latest statement, the hospital system said it would be mandating masks for patients, doctors, patients, visitors, and staff members at its hospital and medical offices.

“Kaiser Permanente Northern California is committed to protecting the safety of our members, patients, employees, physicians, and visitors, which includes taking appropriate steps to prevent the spread of transmissible infectious diseases in our facilities,” it told local media.

Some Northern California locals weren’t happy with the announcement that mask mandates would return, according to local outlets.

They told us a bunch of [expletive],” Richard Staudinger, a North Sacramento resident, told CBS. “I think most of the people don’t believe it now.”

Another, Craig Roberts, said, “I think it’s more political than anything, just think they’re trying to do what they did in 2020.”

But some said they don’t mind the mandates. “I don’t have a problem if they reinstate the masks,” Kiona Cooper, of Northern California, said.

Other Mandates

Meanwhile, the Lionsgate film studio in Santa Monica also said it would not be implementing a mask mandate, days after the media company said it would force workers to put on masks again on certain floors. It claimed that it never changed its mask policy.

The LA County Department of Public Health notified us yesterday that we could lift the mask requirements, effective immediately, and we have,” the firm told news outlets over the weekend.

The statement also said: “Lionsgate never changed its own mask policy. The LA County Department of Health ordered us to institute the temporary masking requirement after we reported a cluster of COVID cases to them and we have an obligation to comply with their orders.”

Last week, a Lionsgate memo stated that employees on only certain floors have to wear surgical masks, KN95 masks, or N95 masks “except when alone in an office with the door closed, actively eating, actively drinking at their desk or workstation, or if they are the only individual present in a large open workspace.”

Earlier in the month, data from the Centers for Disease Control and Prevention showed that COVID-19 hospitalizations rose across the country. Hospitalizations rose by 21.6 percent, to 12,612 new admissions from 10,370, according to the data ending Aug. 12.

Despite the increase, it’s among the lowest levels of hospitalization recorded since the start of the pandemic in early 2020.

“An upswing is not a surge; it’s not even a wave,” Dr. Shira Doron, the chief infection control officer for Tufts Medicine, told ABC News. “What we’re seeing is a very gradual and small upward trajectory of cases and hospitalizations, without deaths really going along, which is great news.”

At the same time, several hospitals, including some in upstate New York, and Morris Brown College in Atlanta reimplemented mask mandates, prompting concerns about a broader effort to force masks on people, three years after the start of the pandemic in the United States. Media coverage around the small increase in COVID-19 cases has also focused on whether masks should be worn, with mainstream outlets such as CNN interviewing doctors who say people should start wearing them again.

But some politicians and commentators, in response, called on supporters to resist the mandates.

“It’s alarming that the mandates are kicking in again,” Sen. Ron Johnson (R-Wis.) said in a recent interview. “It’s like, OK, we noticed masks didn’t work, particularly for children. We always knew they didn’t work for kids.”

It also comes as President Joe Biden on Aug. 25 told reporters in Lake Tahoe that he signed off on a proposal “to present to Congress a request for additional funding for a new vaccine that is necessary, that works.”

Tyler Durden
Mon, 08/28/2023 – 21:40

Half Of Transgender Prison Inmates Convicted Of Sex Crimes: Wisconsin Data

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Half Of Transgender Prison Inmates Convicted Of Sex Crimes: Wisconsin Data

Half of the transgender inmates in the Wisconsin prison system were convicted of at least one count of sexual abuse or assault, according to data provided by the Heritage Foundation’s Oversight Project.

Obtained via a public records request to the Wisconsin Department of Corrections in April 2022, the data – provided more than a year later and reported by the Daily Caller, indicates that 81 of the 161 transgender inmates at female prisons had a record of sexual abuse.

Details were not disclosed by the DOC regarding how many transgender inmates applied to a women’s facility and the number of requests granted, according to the documents. The prison system also did not provide how many had transferred with sex crimes on their record or how many were charged while in prison. -Daily Caller

More via the Oversight Project:

The records don’t show which other crimes the transgender inmates may have committed, including whether they have multiple sex crime convictions

“The transgender issue isn’t just about women in sports, which seems to be the context people are most comfortable talking about the transgender contagion in,” according to Mike Howell, director of the Heritage Foundation Oversight Project, in a statement to the Caller. “This data shows a much uglier truth, that sexual crime and transgenderism are linked.

The Caller also notes that in June, the Supreme Court affirmed a previous ruling by a lower court that sided with a transgender inmate – biological male Kesha Williams – who successfully sued Fairfax County jail for discrimination after sticking him in an all-male jail. According to the Fourth Circuit, the jail discriminated against Williams under the Americans with Disabilities Act by failing to provide treatment for “gender dysphoria,” and for allowing other inmates to harass him.

Tyler Durden
Mon, 08/28/2023 – 21:20

Bitcoin Mining Complexity Hits Record High Despite Price Plunge

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Bitcoin Mining Complexity Hits Record High Despite Price Plunge

Following the BlackRock filing for a Bitcoin spot ETF that helped propel the market at the end of June, Bitcoin reached a YTD high just about $31,800 in mid-July.

The August correction in crypto markets, which reversed the post SEC vs. Ripple court decision rally, can be partly attributed to the broader correction in risk assets such as equities and in particular tech, which in turn appear to have been induced by frothy positioning in tech, higher US real yields and growth concerns about China.

And at the margin, news related to SpaceX liquidating its bitcoin holding in the previous quarter acted as an additional catalyst.

This correction pushed the total crypto market cap back down to around $1 trillion…

And as JPMorgan’s Nikolaos Panigirtzaoglou notes, these headlines all caught investors with an overhang of long positions (as implied by JPM’s futures position proxy based on CME bitcoin futures)…

These long positions were built on the back of a string of previous positive news such as the district court decision on the SEC vs. Ripple case, the launch of a stablecoin by PayPal, the launch of Coinbase “Base” chain, a wide anticipation that the SEC will approve the recent applications by several asset managers for a spot bitcoin ETF, as well as early positioning by some investors ahead of the bitcoin halving event, tentatively expected to happen in late Apr 2024.

But, as the chart above shows, this unwinding of long positions appears to be at its end phase rather than its beginning.

Additionally, as Michael Saylor noted recently, Bitcoin does not tend to spend too much time below its 200DMA…

And so, as a result of this, Panigirtzaoglou sees limited downside for crypto markets over the near term.

Which perhaps explains why – in the face of this selling pressure – the Bitcoin mining hashrate has only continued to rise recently to a record high, suggesting that the miners may not care too much about the crash.

Source: Blockchain.com

As Bitcoinist reports, the “mining hashrate” is an indicator that measures the total amount of this computing power that the miners have currently connected to the Bitcoin blockchain.

Source: Blockchain.com

Generally, the higher the hashrate, the more secure is the network as a 51% hack becomes much harder to perform. This is, of course, given that the hashrate is also sufficiently decentralized.

When the hashrate goes up, it means that miners are finding the BTC blockchain attractive to mine on currently so new validators are joining and/or old ones are expanding.

It would appear that the miners are unfazed by this price plunge, at least for now, even though revenue has plummeted…

Source: Blockchain.com

As CoinTelegraph reports, market analyst Dylan LeClair commented on the falling revenue and hash rate peak stating that more efficient new rigs will keep being produced, “but it’s almost time for the price to outpace,” meaning that prices need to adjust upwards to keep mining profitable at such high hash rates.

Bitcoin miners have reportedly been relying on funds from stock sales in the second quarter to keep them afloat during the bear market.

On Aug. 24, Bloomberg reported that the 12 major publicly traded miners raised about $440 million through stock sales in Q2.

Mark Jeftovic, who runs the Bitcoin Capitalist newsletter, said, “Some mining companies are diluting shareholders at an excessive rate,” adding that “if they are diluting you faster than Bitcoin is going up, then you are going the wrong way on a treadmill.”

Finally, Bloomberg suggests another possible reason for miners scaling up regardless of the current prices is in part due to an upcoming Bitcoin code update called the ‘halving’. The update cuts the Bitcoin rewards to miners in half every four years and maintain the coin’s 21 million supply cap. The next halving is set to take place in 2024. The mining companies have to increase their computing power and stay competitive to fight for even less rewards after the event.

Tyler Durden
Mon, 08/28/2023 – 19:20

Las Vegas Is A Top Destination For Californians Moving Out Of State

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Las Vegas Is A Top Destination For Californians Moving Out Of State

Authored by Jill McLaughlin via The Epoch Times (emphasis ours),

Las Vegas is the most popular location for relocating home buyers nationwide, topping Redfin’s list for the first time—with Californians making up the largest group of new residents in the Southern Nevada hot spot, according to a study by the national real estate group.

“Buyers with the freedom and inclination to relocate are choosing Las Vegas largely because their money goes a long way there: Its typical home sells for $412,000, less than half the price of a home in Los Angeles, the most common origin for buyers moving to Las Vegas,” Redfin stated in a report published last month.

The Las Vegas Strip and skyline including various hotels and casinos are seen at night in Las Vegas in this photograph taken on Oct. 18, 2016. (Saul Loeb/AFP via Getty Images)

The news was not surprising for the city’s real estate association, which has about 17,000 members.

“After COVID, a lot of people realized they don’t have to live in a certain area if they have certain job descriptions,” Las Vegas Realtors President Lee Barrett told The Epoch Times.

Besides more affordable home prices, many people moving to Sin City are also discovering how much the city offers outside of casinos, Mr. Barrett added.

“We have all the things a regular city has, and we have more of it than people realize,” he said. “It’s a good place to raise a family and a good place to run your business.”

An aerial image shows homes and a golf course in the Summerlin community as some homeowner associations remove ornamental grass to conserve water during the western drought from Las Vegas on July 20, 2021.(Patrick T. Fallon/AFP via Getty Images)

The growing city of about 656,300, according to 2022 data from the U.S. Census Bureau, also has mountain hiking, a ski resort, a symphony, shopping, theater, and the nation’s No. 1 hockey team, the Vegas Golden Knights, which won its first Stanley Cup championship this year.

The Oakland A’s baseball team has also agreed to move to Las Vegas after the end of the 2024 season following the NFL’s Oakland Raiders who moved there in 2020.

The city has also signed a Formula 1 racing contract for the next 10 years, Mr. Barrett said.

The amenities, opportunities, less crime, and family-friendly activities have also lured Hollywood celebrities recently.

Actors Mark Wahlberg, Holly Madison, and Dean Cain have recently relocated to the city.

Nevada also has no state income tax, adding to the draw.

“If you’re an extremely wealthy person, it’s a benefit to live in a state where there’s no income tax,” Mr. Barrett said. “If you still want to be close to Los Angeles to work, Las Vegas is a way to do that.”

An apartment building in Los Angeles on Oct. 20, 2021. (John Fredricks/The Epoch Times)

The influx of Californians and other out-of-towners has caused a shortage of housing, which has plummeted since last year, according to Las Vegas Realtor.

For instance, in August 2022, 10,644 single-family homes were on the market, which then dropped by nearly 40 percent in July 2023 to 6,031.

According to Mr. Barrett, developers are now building more apartment complexes and condominiums as a result.

The median—or middle value—price for existing single-family homes sold in Southern Nevada, which includes Las Vegas, in July was $450,000, up 2 percent from June, but down 3.2 percent from July 2022, according to Las Vegas Realtors.

Median home prices in the region are still below the all-time record of $482,000 set in May 2022, the organization reported in an Aug. 8 press release.

Specifically for the Las Vegas market, the median price for a single-family home was $790,644 in July, which was a 2 percent increase over June’s median, Las Vegas Realtor reported.

The condominium and townhouse market in the city in July was significantly less expensive with a median of $333,109, according to Las Vegas Realtor.

Meanwhile, the median home price in California was $786,400 in July, Redfin reported.

Although prices in Las Vegas remain high compared to many other regions in the United States, they are lower than many California cities, including Los Angeles, which currently has a median of $830,000, Orange County’s $1,059,000, and San Diego at $835,000, according to Irvine-based CoreLogic, reporting its latest data as of June.

Homes await buyers in the city of Irvine, Calif., on Sept. 21, 2020. (John Fredricks/The Epoch Times)

Phoenix, Arizona, and Tampa, Florida, are the next most popular cities for people to relocate nationally, Redfin reported. Both those city’s states have lower medians, at $420,000 and $390,000, respectively than California’s, according to national real estate service Zillow.

According to Redfin, five of the 10 most popular destinations for relocations are in Florida, which has no state income tax. The Sunshine State also has a low corporate income tax of 5.5 percent, a 6 percent state sales tax, and a local sales tax of 2 percent, according to the Tax Foundation, the nation’s leading nonpartisan tax policy nonprofit.

According to a different Redfin survey, 20 percent of those who moved to a new city in the last year did so for a lower cost of living. Fifteen percent of those surveyed said they wanted a better deal on a home and 13 percent said they couldn’t afford a home or the cost of living in their previous area.

The Redfin survey in May and June consisted of 884 respondents who indicated they moved from one metro area to another in the previous 12 months, according to the company.

Tyler Durden
Mon, 08/28/2023 – 19:00

Watch: Climate Commies Blocking Burning Man Taken Down Hard By Tribal Cops

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Watch: Climate Commies Blocking Burning Man Taken Down Hard By Tribal Cops

Tribal police took aggressive action against a group of anti-capitalist climate protesters blocking the road to Burning Man in Nevada on Sunday.

Approximately six activists from Seven Circles and Extinction Rebellion locked themselves to a trailer in the middle of the road, when rangers from the Pyramid Lake Paiute Tribal Police Department of Nevada drove straight through their blockade, sending demonstrators flying as they sobbed “We’re non-violent,” the Daily Mail reports.

At one point a tribal officer exited his vehicle and ordered a climate protester to the ground at gunpoint before telling her to ‘stop resisting’ arrest.

Another can be heard asking a protestors ‘who has the gun‘, as the protestors say ‘we have no weapons at all, we’re environmental protestors’.

Guardian journalist Michelle Hooq claimed on social media that the Rangers attended the protest after receiving a call that ‘someone in the crowd was going to shoot the activists’.

DailyMail.com did not immediately receive a response to a request for comment from Extinction Rebellion, Seven Circles or the PLPTPD.

Watch:

According to the report, one ranger can be heard saying that the protesters were ‘trespassing on tribal land’ before they were arrested.

A social media account for Rave Revolution Global posted the footage with the caption “‘Nevada Ranger rammed into the blockade, an officer pulled out his gun and threatened to shoot,” adding “Activists from Extinction Rebellion and Rave Revolution Global were demanding that the festival ban private jets and single-use plastics.”

Meanwhile, the Seattle branch of Extinction Rebellion (imagine the smell) tweeted: “Why would a police officer risk public safety like that?”

Why indeed.

Full video below:

Tyler Durden
Mon, 08/28/2023 – 18:40

Save The Rule Of Law By Destroying It?

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Save The Rule Of Law By Destroying It?

Authored by Victor Davis Hanson via American Greatness,

Some truths are so staggering in their ramifications that Americans simply shrug and tune them out as if strangers in a strange land.

Is their current bewilderment because modernist America is unrecognizable —a nonexistent border, downtown homeless juxtaposed to hipster professional elites, DEI racial essentialism, cities reverting to precivilizational wastelands, millions exiting blue states to red, an FBI and DOJ gone rogue, the normalization of violent theft and assault, biologically born men sandbagging women’s sports and their locker room privacy?

We are reaching the point where the once unbelievable has become the banal, as a single generation has done its best to undo the work of a prior 12 generations.

Consider the following:

Three leftwing prosecutors are criminalizing politics with more than 90 simultaneous indictments of Donald Trump, the ex-president and currently the leading Republican primary candidate. While New York prosecutor Letitia James is hounding Trump with a $250 million state lawsuit against the Trump organization and family, on the pretense of supposedly Trump overvaluing his real estate and filing inaccurate financial statements.

Is there any Mafia don, mass murderer, or terrorist who has faced so many indictments or suits in so many jurisdictions at almost the same time?

The prosecutors’ immediate lawfare agendas seem transparent enough. They wish to bankrupt candidate Trump with endless legal costs, and humiliate him with his mugshot blasted over the Internet, and put endless Lilliputian legal ropes over a shackled candidate Gulliver, and inflate the ego and agendas of local prosecutors, and purportedly earn Trump empathy enough to win the nomination only to be hemorrhaged with still more indictments, gag orders, and court appearances to bleed him out in the general election.

Americans ask themselves questions whose answers are never given. Why are all these Trump prosecutors leftwing or with Democratic connections?

Would any of the 90 something indictments for “crimes” of years past have been lodged against a citizen Trump who had retired from politics?

Why are these indictments of alleged wrongdoing of years ago now in summer 2023 suddenly being synchronized in leftwing jurisdictions of New York, Washington, Miami, and Atlanta with the beginning of the 2024 election cycle?

Are any of the indictments against Trump also applicable to others?

Alvin Bragg’s charge of campaign finance violations (Hillary Clinton, 2016)?

Jack Smith’s allegations of encouraging mass civil unrest (Kamala Harris, 2020)?

Illegally removing and possessing classified federal documents (Joe Biden 2009-2022)?

Letitia James’s lawsuit alleging financial irregularities and fraud (Al Sharpton 2009-2014)?

Fani Willis’s claim that Trump was seeking to sabotage the constitutional duties of state electors (Martin Sheen, and an array of B-list Hollywood actors, 2016) and colluding to interfere with an election (Fani Willis 2023-4)?

Will any losing Republican candidate in a contested election any longer question the integrity of questionable balloting—in the manner of Vice President Al Gore in 2000, Sen. Barbara Boxer and 32 Democratic congressional representatives in 2004, candidate Jill Stein or Hillary Clinton in 2016, or Stacey Abrams 2018—and thereby risk financially and career-crimpling indictments?

Will conservative district attorneys in places like Wyoming, Alabama, or West Virginia now seek to indict a Joe Biden, Hillary Clinton, Barack Obama, or Gavin Newsom to earn notoriety, to weaken the opposing party, and to leapfrog to higher office in the manner that we should expect a Fani Willis or Alvin Bragg to be currently planning?

When Republicans retake the Congress and White House, will they begin indicting all the weaponized prosecutors who colluded to exempt a grifting Hunter Biden for five years? Will they try Joe Biden as a private citizen for his prior corruption over the last 15 years?

Why would Donald Trump believe the 2020 election was “rigged?” Was he cribbing that belief from liberal journalist Molly Ball’s braggadocious 2021 Time essay? After all, she outlined what she called a leftwing “cabal” and “conspiracy” to change voting laws, turn on/turn off the 2020 Antifa/BLM street protests, absorb the work of registrars, and suppress unwelcome social media news.

Was it more morally suspect to question the ethics surrounding the election year 2020 or for Mark Zuckerberg to infuse $419 million to absorb in asymmetrical fashion the work of the registrars in key swing precincts?

A Cardboard Cutout President

We are witnessing the daily deterioration of President Biden to the point that caricature and jokes about his senility are no longer funny. He is not just an embarrassment but becoming an existential danger to the country. Does anyone believe that in a national crisis over Taiwan or nuclear escalation in Ukraine, Joe Biden would or could make the final decision?

Biden cannot finish a teleprompter sentence without slurring his words, losing his place, or screaming and whispering in incoherent fashion. If that is his public persona, what he is like in private sessions of governance?

He spontaneously both shouts angrily and creepily whispers for effect. Moving a lightweight aluminum beach chair becomes a Herculean task.

In almost every impromptu speech Biden flat-out lies or spins self-serving autobiographical fantasies—often in the midst of foreign dignitaries, grieving families, and refugees from devastating natural disasters.

Biden often does not know where he is on stage or where he is to enter or exit. He is one fall from oblivion.

Not since Woodrow Wilson’s final year in office, has any president simply been unable to fulfill his duties, both physically and cognitively.

Or perhaps the country is in the same position as when an ailing Franklin Roosevelt in late 1944 was deemed just hale enough to get elected and continue Democratic control of the White House, but deemed not healthy enough to finish his first year in office—necessitating the rapid removal from the ticket of the socialist Vice President—and an otherwise likely 1945 President—Henry Wallace.

Yet there has been almost no serious speculation in Congress or among the cabinet about invoking the 25th Amendment. This silence is doubly strange given the Left’s former fixation between 2017-21 with removing Trump by any means possible—including invoking the 25th Amendment.

That silly effort led to the surreal—the acting FBI director Andrew McCabe and the deputy attorney general Rod J. Rosenstein scheming to wiretap Trump in private conversations to reveal his supposed craziness–or the Congress dragging in an incompetent Yale psychiatrist to testify that at a distance she had diagnosed Trump as demented.

Do we recall ex-Pentagon officials and officers talking openly about a military coup to remove the supposedly touched commander in chief?

Our Chairman of the Joint Chiefs contacted the head of the People’s Liberation Army to warn him that Trump might be unhinged. So is Gen. Mark Milley now making yet another call to Gen. Li Zuocheng of the People’s Liberation Army to warn him that Joe Biden is dangerously disturbed?

It is precisely that entire cast of characters that now sit mum as Joe Biden believes we are fighting in Iraq against the Russians or that his late son Beau died in action in Iraq, or it is impossible to square the tens of millions of dollars that flowed from abroad to the Biden accounts with any concrete expertise rendered or income reported as taxable.

Is the tolerance of Biden’s senescence because his blank stares and mental confusion prove useful to the Left by exempting the president from offering any defense of his mostly defenseless policies or defending his absurd claims to know nothing of the Biden family grifting operations that were predicated on his own offices?

Or do the puppeteers, the Obamas, Bernie Sanders, Elizabeth Warren, and the hard leftists of the party find a non-compos mentis Biden mannequin a useful veneer in pushing through their extreme agendas? Or does the media call the shots, especially after they propelled a basement bound Biden to the White House?

Mainstreaming Corruption

There have been a few corrupt presidents in our past, who (as in the case of Lyndon Johnson) left office far richer than when they entered or were surrounded by rogues (Grant and Harding) or were masters of leveraging and grifting long-term contracts and networks in their lame duck tenures to ensure their impending multimillionaire status the day they left office (the Clintons and Obamas).

But never in memory has an entire extended presidential family been involved in selling influence for millions of dollars in quid pro quo lucre—the vast majority of such ill-gotten gains likely untaxed, by being channeled through sham companies, foreign deposits, fake names and alias email accounts.

Never has a corrupt presidential family itself offered so much proof of its own guilt. Do the Democrats have any idea of the smelly Biden albatross hanging about their collective necks?

How much longer can they continue to dismiss the communications on the Hunter Biden laptop?

Or the testimonies of IRS whistleblowers?

Or the assertions of Biden family business associates?

Or the statements of relevant Ukrainian oligarchs?

Or the latest assertions of Viktor Shokin?

Or the extraordinary efforts of the Bidens to stonewall subpoenaed documents, use fake names and shadow email accounts, compromise federal prosecutors, appoint sham special counsels, and use media toadies to the point of embarrassment to hide the ugly truth?

In sum, what were the Bidens so afraid of that prompted them to corrupt the DOJ and FBI to stonewall any discussion of the huge cash infusions that came from abroad into their family coffers?

Americans have impeached or nearly impeached presidents before for abuse of power, lying under oath, or supposedly using government to pursue their own personal agendas or harass their enemies.

But never has a president been so clearly compromised by bribery from shady foreign government-related grandees in expectation of favorable treatment.

In other words, there is growing evidence that Joe and Hunter Biden, and likely Jim Biden as well, made millions of dollars on the hopes that then Vice President Biden, and perhaps one day a future president Biden, would alter or compromise U.S. foreign policy on the expectation of getting rich.

The State Department’s Ukraine team deemed Viktor Shokin making progress in rooting out corruption. So why did Joe Biden without consultation fire him? Did Biden put his own financial interests above the country’s—in a fashion that the Founders worried was impeachable “treason?”

If the current investigations are not halted or compromised, we may soon learn why the Constitution explicitly specified bribery and treason as an ironclad cause for impeachment.

Can Americans even comprehend that they have elected a dishonest man to the presidency who is protected by his own senility, his decades-long everyman construct of ol’ Joe Biden from Scranton, his usefulness as a prop to the radical leftwing agenda, and the defensive and offensive weaponization of the criminal justice system?

Can Americans digest that instead of campaigning against Donald Trump, outdebating him, outspending him, and outfoxing him, their government must unleash kindred prosecutors to destroy Trump by blowing up the entire tradition of blind American jurisprudence?

Are the media and left claiming that to save the rule of law from Trump, they must first destroy it?

Tyler Durden
Mon, 08/28/2023 – 18:20