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These Are The Ten Worst US Cities For Renters

For cash-strapped renters crushed by the worst inflationary environment in four decades as real wages tumble, personal savings wiped out, and credit cards maxed out, we have found the top ten cities to avoid renting a one-bedroom apartment.

The Zumper National Rent Index shows rising shelter costs for a one-bedroom apartment are not sustainable for the working poor. The median national one-bedroom rent for August was $1,486, up 11.8% over the same month last year, surpassing July's record high. 

Readers may recall we have focused on New York City's hot rental market for apartments that continues to set "record number of records." In the metro area, one-bedroom rents are up a staggering 40% year-over-year. A two-bedroom apartment is up 47%. Across all boroughs, Manhattan had the highest rent, climbing to another record high of $4,214, up 27% over last year. 

So it is no surprise that NYC tops the list with the most expensive rent. San Francisco, San Jose, Boston, and San Diego rounded out the list of the five most costly rents in the nation. 

Source: Bloomberg

Here are the cheapest rents where average one-bedrooms are less than $1,000 per month. 

Source: Bloomberg

Renters should avoid locking in rent contracts in super expensive metro areas because the Federal Reserve's aggressive tightening could spark turmoil in the economy later this year, if not next. This would undoubtedly mean rent prices would have to readjust. 

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Gingrich: Media Won't Acknowledge Republican Wave Coming In November

Newt Gingrich thinks that the leftist media may be deliberately distorting what he says is evidence that a red wave is coming in November.

In a Tuesday Fox News op-ed, the former Speaker of the House said that Republicans are particularly well positioned to regain control of the Senate in a 'mass repudiation of President Joe Biden and the Democrats' policies.

The media, meanwhile, is "at best misunderstanding – and at worst deliberately distorting" the evidence, Gingrich says.

For starters, it’s a midterm in a new president’s term. History tells us these elections almost always cut against the president’s party. Add to this that 74 percent of Americans think the country is headed in the wrong direction thanks to out-of-control spending, 40-year high inflation, rising prices, surging violence, an unpoliced border, and a host of lesser crises. 

The Democrat-led Congress has a 79 percent disapproval rating, according to Statista. And Biden is hovering at 53 percent disapproval in an average of polls of likely voters, according to FiveThirtyEight (many polls are much worse for Biden).

But set these broad indicators aside for a moment. -Newt Gingrich

Gingrich notes that the "left-wing media" is pointing to New York's 19th Congressional District special election as a bellwether for November - with Democrat Pat Ryan eeking out a 2% win over Republican Marc Molinaro - however to suggest that this portends Democratic momentum is "either ignorant or dishonest," as the NY 19th District is 'reliably blue' - with the 2020 Democratic candidate winning by 11.6%.

In short, Ryan's win was actually a terrible showing for the Democrat, who should have won by far more.

Gingrich continues: A 2-percentage-point win here should make Democrats nervous – not jubilant. The real lesson from the NY-19 race is for Republicans. President Trump earned 178,000 votes in the district in 2020. Although it was redrawn before this race, Molinaro got only 63,000 votes. Had Molinaro run a more aggressive campaign that focused on big national issues, I suspect he could have reached more of the potentially 115,000 Trump voters who weren’t motivated to turnout for the special election. This would have given him the win.

The media is also obsessing over Senate Minority Leader Mitch McConnell’s recent comment that the Senate elections would be tough for Republicans. In all fairness to McConnell, his super PAC has since poured tens-of-millions of dollars into these races – and he clearly intends to win them. At the same time, pundits and reporters are ignoring the deeply positive, optimistic attitudes from the Republican National Committee, the National Republican Senate Committee, and a host of other Republican Senate-focused groups. The media is also ignoring the massive Republican voter enthusiasm. We have seen enormous Republican turnout and voter registrations across the country.

Read the rest here...

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Oil Tanker That Ran Aground In Suez Canal Has Refloated

Update: it appears that unlike March 2021, a new transportation crisis will be avoided, as the tanker that ran aground and briefly blocked Suez traffic, has successfully refloated:

* * *

Earlier:

More than a year after the Ever Given containership got stuck for 6 days in the Suez Canal, snarling already broken post-Covid supply chains, moments ago we learned that navigation in the critical canal linking the Indian Ocean with the Mediterranean, and which handles about 5% of global daily crude oil and 8% of LNG flows, has again been halted after a Singapore-flagged oil tanker run aground in the Suez.

According to preliminary reports, the ship that has run aground is the Affinity V oil tanker sailing under a Singapore flag.

Egypt Daily News tweeted that the tugboats from the Suez Canal Authority are currently freeing the tanker:

It is unclear how bad the blockage is, and how quickly the ship can be freed but as of this moment navigation through the Suez has been stopped. Which is a problem for Europe, as in the absence of Russian pipeline gas flows, and with US LNG exports to Europe still suspended due to the Freeport terminal fire, the continent has become almost exclusively reliant on Beijing LNG (which as we reported yesterday is just Russian LNG repackaged and resold at a much higher price to gullible Europeans).

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Era Of Fake Money Is Gone: Egon von Greyerz Warns "No One Can Escape What's Coming"

Via Greg Hunter’s USAWatchdog.com,

Financial and precious metals expert Egon von Greyerz (EvG) stores gold for clients at the biggest private gold vault in the world buried deep in the Swiss Alps.  EvG is a former Swiss banker and financial expert that says massive money printing and huge amounts of unpayable debt will lead to a monster financial meltdown soon

EvG says, “I did forecast that... the stock market is going to fall at this particular point.  The 1,000-point drop on the DOW last Friday came right on cue.  Fundamentally, the markets should have crashed a long time ago..."

"It appears clear to me we are going to see a 30% or so fall in the markets in the next one to two months.  That’s the first fall, but that’s just the beginning...

Markets will fall, in real terms, by 90% to 95% in the coming years.  That’s not going to happen overnight, but if it does happen overnight, then all bets are off and there will be a total disaster.  The world is going to shut down...

Then there will be some extra money printing and people will be optimistic for a while.  There is no money anymore because the money that is printed will make zero difference.  There will be nothing that will drive the world forward.  All the decisions on top of the with energy, climate change, sanctions, etcetera, will mean it all will crash a lot faster...

The world is going to see a collapse that it has never seen before in history, and there is absolutely no remedy for that.  They are not going to be able to do anything.  Everybody who is not in power is going to promise something that they can’t deliver.  When they get into power, they will be thrown out because they couldn’t deliver. 

So, the era of Shangri-la and money printing and saving the world by fake money—that era is totally gone.”

EvG goes on to say, “I am not a prophet of doom and gloom, but it may sound like it.  I am just someone who just looks at risk..."

" This is why I got into gold 20 years ago.  Gold was the best solution to a risk situation in the financial world. . . . We almost had a collapse in 2008, and it was patched up temporarily. 

This time they won’t succeed...We have a situation nobody can solve...

Initially, there will be money printing, but adding new debt to pay old debt is not a great solution to the problem.  I don’t think there will be any orderly reset at all...

At some point, there will be an implosion of the system.  There has to be...

You have to remember when the debt collapses, all the assets that were supported by this debt will collapse. 

You will have an implosion of values, I expect 90% plus.  Stocks crashed in 1929 to 1932 by 90%.  The risk back then and the magnitude of the problems then were nothing compared to what we have today.  Remember, today it’s global, and it’s every single country in the world... It’s everywhere, and no one can escape what’s coming.”

In closing, EvG says, “Gold never goes up in price.  Gold maintains stable purchasing power, and that’s why it is such a wonderful commodity and asset.”

EvG likes silver, too, but he says be careful because it will be more volatile than gold.

There is much more in the 37-minute interview.

Join Greg Hunter of USAWatchdog.com as he goes One-on-One with Egon von Greyerz of Matterhorn Asset Management, which can be found on GoldSwitzerland.com.

*  *  *

To Donate to USAWatchdog.com Click Here

There is free information, analysis and original articles written by EvG and others on GoldSwitzerland.com. To get a copy of EvG’s new book “Gold Matters,” click here.

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How To Trade The Post-Jackson Hole Market: Thoughts From The JPMorgan Trading Desk

Some observations from JPMorgan trader Andrew Tyler on the post J-Hole reality.

The Fed is seemingly more hawkish but bond market is pricing in roughly the same probability of 75bps as pre-JH. The terminal rate is looking to be about 3.75% in this tightening cycle. Implying about another 125bps or 150bps of tightening. JPM view is another 125bps of tightening (75bps in Sept, 25bps in Nov, and 25bps in Dec; as a reference Goldman is 50/25/25).

What changed with bonds? 2023 rate cut expectations have shifted from Sept to Nov for the first cut. Jay Barry had flagged that yields had moved a touch too far and we are seeing buyers overnight. Keep an eye on the USD as any move lower could attract buyers of treasuries.

To me, the biggest change from the Fed was them telling the market that they are more concerned about inflation than economic growth. They still maintain a data dependent approach. Recall that Volker halted his tightening cycle when CPI hit 4%. Earlier this month, bond market had been pricing in CPI falling below 3% by summer 2023.

What does this mean for stocks? This century, Sept has been the seasonally weakest month of the year and Q4 the strongest quarter. This could repeat itself as

  • (i) increases in rates vol have been negative for Eqys,
  • (ii) rates vol has spiked into Fed events and CPI prints,
  • (iii) we could see rates vol collapse after the Sep 21 Fed,
  • (iv) earnings season could be similar to Q2 and if so that is net positive for stocks but need to see how co’s continue to deal with inflation and FX risk.

What are the risks from here?

  • (i) a move higher in oil; oil over a $100 seems to be a psychological bear level for stocks;
  • (ii) EPS risk is key as many investors thought Q2 would be the beginning of an earnings recession;
  • (iii) macro data worsening which could look like growth metrics falling while the labor mkt tightens

What’s the trade?

  • I think Tech leads on the move higher especially if the 10Y fails to make new highs (3.47%).
  • Tactically, Energy seems to be a tradeable trend with WTI oscillating in the $90 - $100 range; longer-term Energy remains a buy.
  • Financials could be a tactical long as they have tended to trade higher into EPS; also we have seen clients look to do a Financials L/S index via JPM Delta-One as NIM continues to expand there are idiosyncratic winners/losers.
  • China is an interesting tactical trade as the $29bn bailout fund seemingly removes a Lehman-like event and stimulus removes some of the Tech-sector regulatory overhang.
  • We have seen clients replace US Tech exposure with FXI and KWEB exposure as recently as last week. I like hedging with IG Credit.

More in the full note available to pro subs.

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Pennsylvania Abruptly Changes Voter Registration Form, Combines With Mail-In Ballot Application

Authored by Beth Brelje via The Epoch Times (emphasis ours),

In the middle of the election cycle, the Pennsylvania Department of State has suddenly changed its voter registration application form to include a mail-in ballot application.

A portion of the newly combined Pennsylvania voter registration application and mail-in ballot request form introduced just 11 weeks before the Nov. 8 midterm elections. (Pennsylvania Department of State)

The applications used to be on separate forms, but this seemingly small clerical change is creating logistical headaches for county election directors and causing voter confusion.

Registering to vote and seeking a mail-in ballot are two different actions requiring different responses in the county election offices.

“We use the voter registration application for one thing, we use a mail-in ballot application for something different,” Christa Miller, Lancaster County’s election director, told The Epoch Times. “One has to be done before the other. Obviously, you have to be a voter in order to get a detailed ballot, so that has to be processed first. And then your mail-in ballot application can be processed. We also file them all completely different.”

All voter registration applications are filed together, and mail-in ballot applications are filed separately. That is because, as per state law, county election offices must mail an application each year to everyone who asked to be on the permanent mail-in ballot list.

In February, we have to send them an application for that calendar year,” Miller said. Then the voter must send it back, confirming they want to participate in mail-in voting for the year. The office files the mail-in applications alphabetically.

Procedure Changed in Middle of Election Cycle

Between the May primary and the November general election, the county elections office fields a lot of calls from voters who want to verify they checked the mail-in ballot box or to check the address where the ballot will be sent.

Instead of going though something like 400,000 voter registration forms, it’s easier to go through 30,000 specific mail-in ballot forms.

The Department of State combined the documents and implemented the new form on Aug. 19, which was 13 weeks after the primary and just 11 weeks before the general election.

Now the county is processing the first half of the form—getting a person registered to vote—and then making a copy of the form to process the mail-in ballot portion and file that copy separately.

Voters have questions about the new form, too, Miller said. They are not sure if they are registering to vote or registering for mail-in voting, so it has taken some education.

As election officials, we asked [the state] to wait until December. This is going to take voter education and explaining how the new form works,” Miller said. “There’s a big election coming up in November. I think everybody in Pennsylvania knows that. And all we wanted to do was wait until December to let us keep our offices going the way that they’re going. Not having to teach our staff new ways of doing things, and voters new ways of doing things. You know, keep things the same at least through November.”

Jonathan Marks, deputy secretary at the Pennsylvania Department of State, told The Philadelphia Inquirer the goal of the change is to simplify the process, so voters don’t have to fill out two forms.

Read more here...

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The Lab-Leak Theory And What We Know About The Cover-Up

Authored by Thomas Fazi via UnHerd.com,

For more than a year after the onset of the pandemic, talking about the possibility that the virus might have been lab-engineered was taboo. Then, as the evidence continued to mount, it suddenly became acceptable to talk about it in “respectable” circles. Today, however, we appear to have gone full-circle: a determined effort is once again underway to dismiss the lab-leak theory for good — even though no new evidence has emerged to disprove it.

Considering the endless ways in which the pandemic and our response to it have changed the lives of every human being on the planet, it’s astonishing to consider how little is actually known about the origins of the virus. Two and half years on, we are still very much in the dark as to when, how and even where SARS-CoV-2 first made its appearance.

This isn’t because our efforts to get to the bottom of the mystery have proved fruitless, but rather because those efforts have been systematically thwarted by the world’s two most powerful governments: America and China. This is the mother of all Covid conspiracy theories — but it’s also true.

One of the main “conspiracy theorists” is none other than Jeffrey Sachs, director of the Center for Sustainable Development at Columbia University, president of the UN Sustainable Development Solutions Network and chair of the Lancet Covid-19 Commission. He is not your typical tinfoil-hat-wearing internet crank. Sachs recently co-authored a paper in the Proceedings of the National Academy of Sciences calling for an independent inquiry into the virus’s origins. He believes there is clear proof that the National Institutes of Health (NIH), the primary US public health agency, and many members of the scientific community have been impeding a serious investigation into the origins of Covid-19 in order to cover up evidence that US-funded research in Wuhan may have played a role in the creation of the SARS-CoV-2 virus.

Many are convinced that the debate is settled, largely because almost immediately a public narrative surrounding the origin of the virus emerged. This held that the virus was zoonotic in nature, meaning that it had jumped from one or more animals (probably, it was argued, bats) to one or more humans, possibly through one or more unidentified animal intermediate hosts, and most likely at the Huanan Seafood Market  — even though there was no conclusive evidence of any of this.

Early in the pandemic, an alternative theory emerged, suggesting that the Wuhan Institute of Virology (WIV) — known, of all things, for its research into SARS-related coronaviruses, and only eight miles from the Huanan Seafood Market — might have had something to do with an accidental outbreak. From a purely circumstantial standpoint, and considering the long history of safety breaches previously recorded at various facilities in China and throughout the world, one could have been justified for considering it, at the very least, a lead worth pursuing.

As Sir Jeremy Farrar, director of the Wellcome Trust, Europe’s biggest philanthropic research funding body, notes in his bestselling book Spike: “It was odd for a spillover event, from animals to humans, to take off in people so immediately and spectacularly in a city with a biolab … which is home to an almost unrivalled collection of bat viruses” — especially with a new virus that “seemed almost designed to infect human cells”. If this were a coincidence, he adds, it would be a “huge” one.

Yet from the beginning the very notion that the virus might have a laboratory-based origin was stifled. The hot denials came not only from the Chinese authorities and the Wuhan Institute of Virology itself, but also from the WHO and leading Western scientists, institutions and media organisations. For around a year and a half, the “lab-leak” hypothesis was ridiculed and dismissed as a fringe conspiracy theory and anyone who raised it deemed a crackpot — and even subject to censorship on Twitter and Facebook.

The mood seemed to shift when, beginning in mid-2021, several high-profile Western scientists, intelligence officials and politicians — including President Joe Biden — started to acknowledge the plausibility of a laboratory accident. Almost overnight, the lab-leak scenario went from being a “crackpot theory” to a credible and legitimate hypothesis. On the same day Biden announced that his administration would be investigating the origins of Covid-19, “including whether it emerged from human contact with an infected animal or from a laboratory accident”, Facebook stated that it would “no longer remove the claim that Covid-19 is man-made or manufactured” from its apps.

More than a year later, there is simply no conclusive evidence of whether the virus is zoonotic or artificial in nature — even though the public narrative continues to be heavily skewed towards the natural origin theory. What we do know, however, is that a massive cover-up was orchestrated from the earliest days of the pandemic by leading members of the scientific establishment and the Chinese authorities.

This incredible story sheds light on several key aspects of the entire pandemic management, something that Toby Green and I go into in detail in our forthcoming book: the stifling of critical opinion, the lack of transparency by public institutions, the deeply unscientific manner in which the “scientific consensus” about many aspects of the pandemic came about, and how some of the leading actors of the pandemic tragedy — the WHO, Anthony Fauci, the NIH, leading scientific journals — were already engaging in the publication of papers which traduced the scientific method from the very first days of the pandemic.

Here’s a brief recap of what we know about the cover-up — much of which we are aware of thanks to a series of Freedom of Information Act (FoIA) requests.

Much of the work on SARS-like CoVs performed in Wuhan was part of an active and highly collaborative US-China scientific research programme funded by the US government — primarily through the National Institute of Allergy and Infectious Diseases (NIAID), directed by Anthony Fauci, which is part of the NIH — and coordinated by the US-based non-governmental organisation EcoHealth Alliance (EHA). The group’s research work went beyond the simple analysis of existing coronaviruses, and actually involved the engineering of “chimeric” bat coronaviruses, some of which proved to be potentially more infectious to humans — a highly risky technique known as gain-of-function.

In 2018, EcoHealth and the WIV (in collaboration with other institutions) sent a grant proposal to the Defense Advanced Research Projects Agency (DARPA), which included a plan to insert furin cleavage sites into existing bat coronaviruses — spots in the surface protein of a virus that can boost its entry into human cells. The DARPA proposal was rejected — and yet the presence of a furin cleavage site is precisely what sets SARS-CoV-2 apart from all known SARS-like coronaviruses. Did the researchers carry out the research anyway, possibly using other sources of funding? Nobel Prize-winning virologist David Baltimore stated that he considered this to be “the smoking gun for the origin of the virus”.

In light of all this, it’s hardly surprising that in the early days of the pandemic, at the highest levels of the US establishment, the question of whether the virus might have been engineered at the WIV, possibly through research part-funded by the US government, was taken very seriously. As a result of an FoIA request, we know that on February 1, 2020, Anthony Fauci convened a “totally confidential” conference call with at least a dozen high-level experts from around the world, many of whom privately admitted that there was a very high probability that the virus had been artificially engineered and had then “escaped” from the Wuhan lab.

Yet not only did the NIH fail to disclose this to the public or to Congress, but the emails released under the FoIA suggest that it took an early and active role in promoting the “zoonotic hypothesis” and the rejection of the laboratory-associated hypothesis. Indeed, within days of the February 1 call, a group of virologists, including some who were on it and had endorsed the “artificial origin” theory, prepared the first draft of a hugely influential paper on The proximal origin of SARS-CoV-2 — subsequently published in Nature — that argued for the exact opposite.

Moreover, the NIH has resisted the release of important evidence, such as the grant proposals and project reports of EHA, and has continued to redact materials released under FoIA, including a remarkable 290-page redaction in a recent release. Even more incredibly, at some point after March 2020 a number of early SARS-CoV-2 genomic sequences were deleted from the NIH’s own archive at the request of researchers in Wuhan.

The strangeness doesn’t end here. In February 2020, an influential letter signed by 27 global experts was published in The Lancet, strongly condemning “conspiracy theories suggesting that Covid-19 does not have a natural origin”. The letter proved crucial, alongside the aforementioned Nature paper, in nipping in the bud the lab-leak hypothesis and giving the illusion of scientific consensus. In late 2020, however, emails released following a FoIA request showed that the Lancet statement had been orchestrated by one of the 27 co-authors — none other than Peter Daszak, president of EcoHealth Alliance. It was also revealed that all but one of the other 26 scientists were linked to the Wuhan lab, their colleagues or funders.

Daszak was first appointed in late 2020 as chair of the task force created by the Lancet Covid-19 Commission with the aim of establishing none other than “the origins of Covid-19”; and shortly thereafter as the only US representative to a WHO fact-finding mission to China tasked with the same goal. Unsurprisingly, both task forces found that the virus was most likely zoonotic (i.e., natural) in origin, and that transmission through a laboratory incident was extremely unlikely.

The WHO report, in particular, came under heavy criticism, leading to the establishment of a specific work group tasked with ascertaining the origins of SARS-CoV-2, the Scientific Advisory Group on the Origins of Novel Pathogens, which published its first preliminary report in June 2022. The results were inconclusive, largely because “key pieces of data” from China were missing, leading the WHO to recommend in its strongest terms yet that a deeper probe was required into whether a lab accident may be to blame. As we have seen, however, it’s not only the Chinese government that is covering up its tracks about its possible involvement in the engineering of SARS-CoV-2 — but the American one as well.

A new campaign is now underway to put the lab-leak theory to rest once and for all. The recent publication of two new studies providing more evidence that SARS-CoV-2 emerged into humans via the live animal trade at the Huanan Seafood Market has led several outlets to emphatically claim that “the Covid lab leak theory is dead”, once again misleading citizens into thinking that the debate is now really settled.

But the studies don’t provide any evidence that the virus didn’t escape from the Wuhan lab — they simply argue that it’s not a plausible scenario, also based on the fact that there’s no evidence that the virus was present at the WIV before the pandemic started. But of course absence of evidence is not evidence of absence. As Sachs notes, “this [claim] is only as good as the limited data on which it is based, and verification of this claim is dependent on gaining access to any other unpublished viral sequences that are deposited in relevant US and Chinese databases”.

Ultimately, the virus may indeed be conclusively proven to be natural in origin. But in order to do that, as Sachs stresses, a real independent scientific investigation is needed. The public deserves to be shown incontrovertible proof that the Wuhan lab has nothing to do with all this — but that means that the US and Chinese governments have to open up their lab records instead of going out of their way to prevent a real investigation. Amid a time of heightened geopolitical tensions and crumbling faith in political leadership across the West, transparency is needed more than ever.

If we can’t get this one right, how else can we be expected to place our faith in authorities ever again?

*  *  *

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Biden Preparing $1.1 Billion Arms Sale To Taiwan

A month after China's unprecedented live fire exercises in direct response to Nancy Pelosi's visit to Taipei, the Biden administration is set to ramp up its arms sales to Taiwan with numbers that suggest Ukraine levels of aid.

"The Biden administration plans to formally ask Congress to approve an estimated $1.1 billion arms sale to Taiwan that includes 60 anti-ship missiles and 100 air-to-air missiles, according to three sources with direct knowledge of the package," Politico is reporting.

Via Naval News: Land-based Harpoon missile launched from a truck trailer.

The soon to be proposed package is still said to be in its early stage, but both the White House and bipartisan leaders of the Senate Foreign Relations Committee and the House Foreign Affairs Committee are expected to sign off on it.

The new urgency to send more advanced arms to Taiwan, which the US will no doubt emphasize are defensive in nature, is driven by fears that Beijing has only shortened its timeline for Taiwan reunification, also following the month of August which saw no less than four separate Congressional delegations visit.

According to Politico, the over $1 billion arms package is to include "60 AGM-84L Harpoon Block II missiles for $355 million, 100 AIM-9X Block II Sidewinder tactical air-to-air missiles for $85.6 million, and $655.4 million for a surveillance radar contract extension, the people said. The Sidewinder missiles will arm Taipei’s U.S.-made F-16 fighter jets."

The Biden administration has already seen through three major packages of arms sales to Taiwan, continuing on a trend of increased arms deliveries that Trump set in motion.

China is continuing to send warplanes to buzz the self-ruled island's airspace, and is maintaining a persistent Taiwan Strait presence, also following Sunday the US Navy sending a pair of warships through the Strait for the first time since Pelosi's trip. 

"Troops of the (Eastern) Theater Command are on high alert and ready to foil any provocation at any time," a spokesperson for the People Liberation Army’s Eastern Theater Command said in response guided-missile cruisers USS Antietam and USS Chancellorsville traversing the contested waters.

But the 7th Fleet asserted: "These ships (are transiting) through a corridor in the strait that is beyond the territorial sea of any coastal state. The ships’ transit through the Taiwan Strait demonstrates the United States’ commitment to a free and open Indo-Pacific. The United States military flies, sails, and operates anywhere international law allows," according to an official statement.

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Progressive Policies Turning Chicago's Magnificent Mile Into Murderous Mile

Authored by Thoimas DeVore via RealClearPolitics.com,

One of Illinois’ major advantages is Chicago, which – until recently – was one of the most vibrant cities in the world. People from across the globe have made their way to Chicago to do business, tour our famous museums, theaters, and restaurants, take in sporting events, and to build their lives. Chicago is a beautiful city that used to be full of opportunity.

Tragically, this vibrant, once-thriving community is being destroyed by the policies of leftist ideologues ruling the city and state: JB Pritzker, Lori Lightfoot, and Kim Foxx.

Consider this: There were four times as many crimes reported in the few blocks around Water Tower Place, one of the more exclusive areas of the city, over the last year than were reported in the once-notorious Cabrini-Green.

I recently visited the scene of one of Chicago’s many crimes in downtown Chicago. It was a chilling experience, and these statistics should shock us to our core. But they seem to have numbed many, as each Monday morning we just read the weekend’s body count in the Chicago Tribune right along with the sports scores.

Violent Crime (Assault, Battery, Homicide, Criminal Sexual Assault) Data (04/10/2022 – 08/19/2022), City of Chicago

The greatest shopping district in the Midwest – the Magnificent Mile – has seen some truly horrific crimes. Just days ago, a man was murdered in the late afternoon right outside high-end shops. His throat was slashed. And he died literally in the middle of Michigan Avenue.

What happens to Chicago if Michigan Avenue becomes known as the Murderous Mile?

The explosion in crime drives away businesses. Who wants to set up a store in a city where the mayor handcuffs police and a county that allows criminals to steal up to $1000 in merchandise before it is considered a felony? The rising crime also repels shoppers – that trip to Neiman Marcus is a lot less glamorous when there is no guarantee you won’t be a crime victim in the parking garage.

As vacancies rise and streets empty, property values fall. According to Redfin, the average sale price of a home in Magnificent Mile was $365K last month, down 50.6% since last year. As home values in the heart of Chicago’s Magnificent Mile fell by 50%, homes in Miami are up 21% over the last 12 months.

This is nothing short of a catastrophe. The ongoing destruction of Chicago is a direct consequence of the radical prosecutorial policies pursued by Kim Foxx. Far from doing anything about it, crime will actually go up after Jan. 1 as Pritzker’s anti-police, pro-criminal SAFE-T Act goes into effect and even more criminals held in Cook County jails are released onto the streets. Chicago politicians, just in the past five years, have made the people of Cook County and the surrounding counties of Will and DuPage (which have also seen rising crime, as it bleeds over the borders of Cook) less safe.

Michigan Avenue can be Magnificent again, but only if the extreme pro-criminal, anti-police ideologues ruining Illinois are turned out of office. Illinoisans shouldn’t have to move to Miami to be safe and happy. All they need to do is stop voting for the people who are coming up with these insane policies.

The attorney general is the chief legal officer of the state, but Kwame Raoul is also Kim Foxx’s silent partner in non-prosecution. Foxx has the obligation under the law to prosecute criminals on behalf of the people.

But she and Raoul have been very cavalier about other people’s lives. Her refusal to do her duty is nothing short of criminal. When a public officer fails to perform a mandatory duty in Illinois, that’s official misconduct – and that’s a felony in Illinois.

I can be a supportive partner to a prosecutor who fights crime on behalf of the people, but I will not stand by silently if Kim Foxx refuses to do her job putting criminals behind bars. No public official should be permitted to destroy a city and the opportunities and property values of the people who reside there. Fiddling as Chicago burns is not an option I find acceptable.

Some called me a bulldog for my refusal to stand by as Gov. Pritzker exceeded his constitutional authority with his illegal mandates. Others called me a watchdog as I highlighted for the people the corruption that goes right into the governor’s office in the Thornley case.

I don’t care what you call me. As a private practice attorney, I stood up for parents, first responders, and state workers against a governor and mayor who were abusing their power over them. I will do the same as attorney general. Illinoisans need a check on the powerful in this state now more than ever. I have been a fighter for you. My loyalty has always been and will always be to you – the people, not the powerful.

Let’s take back Chicago in November. With your vote, we can make the Magnificent Mile truly magnificent again.

*  *  *

Thomas DeVore is an attorney in private practice and is the GOP candidate for Illinois attorney general.

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Another US Food Processing Plant Catches Fire, Add This To Growing List

Another food processing plant went up in flames last weekend. Add this poultry business in California to the growing list of US food plants that have been knocked offline in the past year due to "accidental fires."

Los Angeles-based KTLA reported QC Poultry processing plant in Montebello, California, located just east of East Los Angeles and southwest of San Gabriel Valley, caught fire around 1600 local time Sunday. Firefighters responded to the large industrial plant as heavy smoke billowed from the roof. 

"As members [firefighters] began to deploy, the fire was upgraded to a third alarm commercial fire. Firefighters initially took a defensive stance and held the fire from spreading to any other nearby structures," Montebello Fire Department said. The fire was declared "knocked down" by 2000 local time. 

KTLA said there was no damage to other building structures nearby. The fire's cause is unknown... 

While the fire seems insignificant, it's part of a much larger issue of a spate of mysterious fires taking out America's food supply chain one by one over the last year. 

We tallied a list in June of a couple dozen or more food processing plants that have caught fire (find the list here). 

Some on Twitter questioned if America's food industry is being sabotaged... 

... nothing to see here (story count of "food plant fire" in all media outlets). 

Remember, who wants the world to "eat bugs": 

...

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Days After Approving Another $3BN For Ukraine War, US Says No More Money For Free COVID Tests

Authored by Julia Conley via Common Dreams,

"Well this is quite exactly the wrong thing to do going into fall/winter," Dr. Taison Bell, an infectious disease physician at University of Virginia, tweeted as the White House announced on its test-ordering website that a lack of congressional funding has forced the government to end shipments of free tests for the time being.

The federal portal notes that shipments "will be suspended on Friday, September 2 because Congress hasn't provided additional funding to replenish the nation's stockpile of tests."

Via Reuters

The White House earlier this year requested $22 billion in coronavirus funding, including $5 billion in global aid to help people across the Global South and prevent new variants from spreading, but Republicans and Democrats were only able to agree on a $10 billion deal excluding global spending. That bill has so far failed to pass.

The government has sent out more than 600 million tests so far, allowing households to place up to three orders since the program began in January under pressure from public health advocates. The Department of Defense said in February that the federal government spent roughly $2 billion on the first shipments of tests.

While Republicans have refused to fund continued Covid spending this year, lawmakers from both parties have agreed to prioritize military spending, including nearly $3 billion in long-term aid for Ukrainian forces that was approved last week, a $40 billion Ukraine package that passed in May, and $782 billion in U.S. military funding that was approved in March—days after the Covid relief was pulled from omnibus legislation.

MSNBC journalist Ayman Mohyeldin on Sunday noted the contrast between the supposed "lack" of funding for relatively inexpensive Covid-19 tests and the availability of hundreds of billions of dollars in defense spending. According to CBS News, the Biden administration is holding back its stockpile of Covid-19 tests until later in the year to prepare for what a senior official called a potential "new rise in infections and more acute need."

Experts say a winter surge in infections could result in a million hospitalizations and nearly 200,000 deaths in a worst-case scenario. Advancing Health Equity founder Dr. Uché Blackstock noted that through the fall, sites such as libraries and community health centers will still be distributing free Covid tests in some areas, but noted that "the convenience of ordering the tests online was invaluable."

A funding lapse is also likely to happen with vaccines, Blackstock said. Though Republicans have obstructed the passage of continued Covid-19 relief including funding for the test program, the White House has also expressed some eagerness to end the federal government's oversight of the coronavirus pandemic.

Earlier this month, White House Covid-19 Response Coordinator Dr. Ashish Jha said at a U.S. Chamber of Commerce Foundation event that the Biden administration hopes to get "out of that acute emergency phase where the U.S. government is buying the vaccines, buying the treatments, buying the diagnostic tests."

"My hope is that in 2023, you're going to see the commercialization of almost all of these products," Jha said. "Some of that is actually going to begin this fall, in the days and weeks ahead. You're going to see commercialization of some of these things."

The Centers for Disease Control and Prevention's Operation Expanded Testing program, which provides tests to schools, will end on December 31, and pharmaceutical company Eli Lilly has begun direct commercial sales of its monoclonal antibody treatment to hospitals and states.

The CEOs of Moderna and Pfizer have alluded to raising the prices of their vaccines once they are being sold in a "private market situation" rather than to the federal government. Harvard Medical School professor Dr. Adam Gaffney wrote in The New Republic last week that the coming "commercialization" of Covid-19 treatments, tests, and vaccines will sharply reduce access, leading to increased risks for public health.

"Some Medicaid patients could see co-pays for Covid vaccines once they are commercialized—or not have access to these vaccines at all, according to a report from the Brookings Institute," Gaffney wrote. "Provision of vaccines to the uninsured, who are at increased risk of Covid, will almost certainly deteriorate when neither administration nor the products themselves are publicly funded. And co-pays and deductibles for treatments like Paxlovid will presumably pop up for the privately insured."

"The partial decommercialization of the financing of Covid care was a departure from business as usual for American healthcare," he added. "So it is unfortunate, if unsurprising, to watch Covid become yet another illness inadequately covered by a faulty and fragmented financing system."

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Heat Dome Bakes California As "A Lot Of Records Could Be Tied Or Broken"

A severe heatwave across California and the Pacific Northwest will test power grids this week and early next week. 

Temperatures are forecasted to soar above 100 degrees Fahrenheit east of San Diego and Los Angeles, with areas near Palm Springs and Palm Desert exceeding 113 starting Tuesday, according to the National Weather Service (NWS). By Thursday, Sacramento could reach 105. 

The heat dome will spread into Washington, Oregon, and even Montana, Brian Hurley, a senior branch forecaster at the US Weather prediction center, said, quoted by Bloomberg. He outlined:

 "A lot of records are forecast to either be tied or broken," Hurley said. 

The blast of hot air will peak average California temperatures of around 85-90 degrees Fahrenheit on Sept. 5 and revert to a 30-year trend line of the low 70s by mid-month.

Average high temperatures in California could be near the triple-digit territory. 

Californian residents will lower their thermostats to seek relief with air conditioners, boosting electricity demand. 

Bloomberg noted demand on the state grid could reach 44.8 gigawatts on Sept. 4 and then stay elevated until the heat dissipates. Peak loads are expected early next week. 

On a seasonal basis, California power prices are above a 10-year trend line due to the burst of hot weather. 

California's grid operator has postponed power-plant maintenance from Aug. 31 to Sept. 6 to ensure adequate power supplies. 

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Chinese Nuclear-Capable Bombers To Conduct Regular Patrols Near Taiwan

Authored by by Connor Freeman via The Libertarian Institute,

As American warships crossed the Taiwan Strait this weekend, the Chinese People’s Liberation Army (PLA) announced H-6K strategic bombers and aerial tankers will now participate in "regular" patrols near the island, the South China Morning Post reported Monday.

On Sunday, PLA Air Force spokesman Senior Colonel Shen Jinke told reporters, in recent years, the strategic bombers have carried out "countless" operations near Taiwan. Shen was speaking to the reporters at an air force open day. These past operations he referenced were likely in the island’s Air Defense Identification Zone (ADIZ) which is not recognized by international law and includes much of mainland China itself. A country’s airspace is directly above its territory, extending 12 miles off its coast. He added the "H-6Ks – along with other fighters, reconnaissance aircraft, early warning aircraft and [aerial] tankers – will continue to fulfil these missions."

Chinese military: H-6K strategic bombers

The report describes the H-6Ks as having a "a combat range of more than 3,500km (2,200 miles), the H-6K is designed to carry long-range CJ-20 cruise missiles for attacks on land and sea targets as well as short-range missiles like the KD-63."

Shen also discussed the YU-20 aerial tanker, the "refueling variant of the Y-20 transport aircraft." The YU-20 made its debut at the air force open day. Shen said the YU-20s were already being used in combat-readiness training and would "improve the long-range operational capabilities of other PLA warplanes – the first official announcement that the aerial tanker was taking part in drills. It was spotted on a PLA patrol near Taiwan for the first time in November."

The same day, two Ticonderoga-class guided-missile cruisers, the USS Antietam and USS Chancellorsville, crossed the sensitive waterway between mainland China and the island of Taiwan in what the US Navy’s Seventh Fleet called "a routine Taiwan Strait transit." The PLA said it was tracking the American warships and warned they were prepared "to thwart any provocation."

During the Joe Biden administration, the US military has vastly escalated its activity near China, with troops openly deployed to Taiwan, training local forces, and the US Navy sailing warships through the Taiwan strait almost every month. Last year, Biden nearly doubled the deployments of air craft carriers to the South China Sea over the previous year and the US flew more than 2,000 sorties of reconnaissance aircraft in the East China Sea, South China Sea, and Yellow Sea

This latest passage was the first such "routine" transit since House Speaker Nancy Pelosi’s deliberately provocative visit to the island earlier this month. Pelosi’s stunt sparked the largest military exercises around Taiwan that China has ever launched. Beijing’s military simulated a blockade on the island, and fired missiles over the island.

Chinese warplanes and warships have crossed the "median line" which divides the strait almost daily since the Pelosi incident. China and most of the world, including the United States, do not recognize Taiwan and agree the island is Chinese territory.

But, since the Donald Trump administration, Washington has been sending ever more Congressional delegations and high level officials to the island which Beijing sees as a major violation of the ‘One China’ policy. China prefers peaceful reunification with the island, but will not rule out the use of force and has cautioned that US intervention and support for Taiwan’s “independence forces” could lead to war with the United States.

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WTI Slips Lower After API Reports Unexpected Crude Build

Oil prices tumbled hard today after reports confirmed that Iraqi crude exports were so far unaffected by the turmoil in the country.

“Demonstrations and acts of violence in Iraq did not affect the operations of Iraqi oil exports through the southern ports,” Al-Yassiri said.

Additionally, a source in one of the OPEC+ delegations told Russian news agency TASS that OPEC+ are not currently discussing the possibility of oil production cuts.

 “The market is hoping for a solution in Iraq, but, until such time, a notoriously volatile country will keep the market nervous,” said Ole Hansen, head of commodity strategy at Saxo Bank A/S in Denmark.

All of this was exaggerated by an abysmal lack of liquidity in markets.

API

  • Crude +593k (-1.9mm exp)

  • Cushing -599k

  • Gasoline -3.414mm (-1.3mm exp)

  • Distillates -1.726mm (-1.2mm exp)

Analysts expected a 3rd week of crude draws last week (and 4th week of Gasoline stock declines). but they were disappointed as API reported a surprise crude build... Decent product draws however suggest demand remains. Also of note is that API reported a drawdown in Cushing stocks, the first in 9 weeks...

Source: Bloomberg

WTI hovered just above $92 ahead of the API print and slipped back below on the surprise build...

Finally, the market appears to be shrugging off the fact that Europe is struggling for access to alternative supply as a boycott of seaborne Russian imports planned for December threatens to exacerbate an already tight supply outlook.

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