Old Cornpop To The Rescue!!! Don't You Feel Better Now?

kunstler  |  Since banks today exist in a vast matrix of interconnected obligations — promises to pay this-and-that — fear grows that the rot from one bank, such as SVB, will infect many other banks that are no longer able to keep their promises about paying this-and-that, leading to a daisy-chain of things not getting paid. For an economy, that’s about the same as the blood ceasing to circulate in a body.

      The practice in situations such as this (say, as in 2008-09) is for the governing authorities — who supposedly rule over the banking world like gods — to rush to rescue these outfits with “liquidity,” money (or representations of it) as required to re-balance things, or, maybe provide the impression of re-balancing until something else can be figured out. The Jupiter and Minerva of American banking, Jay Powell and Janet Yellen, were faced with just that sort of call for divine intervention over the weekend as fear seeped into every nook and crevice of the money world that wealth was flaring away in the long-feared-of conflagration out of the dumpster banking had become.

      Sunday morning, Ms. Yellen told CBS News “bailouts, no way” but by the afternoon Mr. Powell cried “bailouts, way,” and they had to get their story straight. They offered up $25-billion to bail out depositors for a smoldering system that will arguably require a trillion dollars or more of liquidity to quench the spreading fires. One thing looks for sure: the interest rate hikes that Mr. Powell spoke of so confidently only days ago just got stashed into his folder labeled “Fuggeddabowdit.” So, the campaign to control inflation must now yield to the urgent need to create a whole lot of money to spray over those fires.

      You may have noticed that the value of your money has been slip-sliding away the past year or so. Peanut butter at five bucks a jar, and all. The situation at hand kind of guarantees that we’ll be seeing a whole ole lot more of that. And then the gods of money will have lost control of the interest rate console altogether. No more tweaking the broken knobs. More inflation will prompt US treasury paper holders to dump what they can while there’s still some value to retrieve. But the US has to issue more debt for all the bail-outs and theoretical buyers of new debt will perforce bid up the rates to keep up with inflation… and yet the US can’t possibly bear the burden of paying higher interest on its debt. Looks like the business model for running the USA is breaking down before our eyes.

      Luckily, Cap’n “Joe Biden” is at the helm of this steaming garbage barge. His conference room full of geniuses is ready with the solution to our predicament: the long-mythologized Central Bank Digital Currency — a dream-come-true for would be tyrants… the Godzilla of unicorns whinnying atop the biggest rainbow of all: the promise of endless magic money for everybody, forever. All you have to do to get it is: surrender your decision-making power over your own life. The government will amalgamate your few remaining assets in a CBDC account, tell you exactly what to spend it on, and shut off your little card if you show any contrary impulses.

     Well, they can try it. I doubt it will work. Instead, the government will melt down in its own rancid puddle of insolvency, the meta-grift will grind to an end, and it will be everyone for his / her / they self in the broke-down Palace of Chaos for a while… until things emergently reconstruct. But I get a little ahead of myself. It’s not even ten o’clock on Monday morning.

     Oh, and then there’s Ukraine….

White House Transcript Shows Biden Bit A Golda Meir Line At The 11 Minute Mark...,

Whitehouse |  THE PRESIDENT:  Hello, Poland!  (Applause.)  One of our great allies.  President Duda, Prime Minister — Mr. Prime Minister, Mr. Mayor, and to all the former ministers and presidents, as well as mayors and Polish political leaders from all across the country: Thank you for welcoming me back to Poland.

You know, it was nearly one year ago — (applause) — nearly one year ago I spoke at the Royal Castle here in Warsaw, just weeks after Vladimir Putin had unleashed his murderous assault on Ukraine.  The largest land war in Europe since World War Two had begun.  And the principles that had been the cornerstone of peace, prosperity, and stability on this planet for more than 75 years were at risk of being shattered.

One year ago, the world was bracing for the fall of Kyiv.  Well, I have just come from a visit to Kyiv, and I can report: Kyiv stands strong!  (Applause.)  Kyiv stands proud.  It stands tall.  And most important, it stands free.  (Applause.)

When Russia invaded, it wasn’t just Ukraine being tested.  The whole world faced a test for the ages.

Europe was being tested.  America was being tested.  NATO was being tested.  All democracies were being tested.  And the questions we faced were as simple as they were profound.

Would we respond or would we look the other way?  Would we be strong or would we be weak?  Would be — we would — would we be — all of our allies — would be united or divided?

One year later, we know the answer. 

We did respond.  We would be strong.  We would be united.   And the world would not look the other way.  (Applause.)

We also faced fundamental questions about the commitment to the most basic of principles.  Would we stand up for the sovereignty of nations?  Would we stand up for the right of people to live free from naked aggression?  Would we stand up for democracy?

One year later, we know the answers. 

Railroad Workers Tried To Tell Us Last Year Until Biden And Congress SHUT THEM DOWN!!!

thenation  |  As public outrage has grown over the toxic fallout from last week’s fiery derailment of a Norfolk Southern freight train in East Palestine, Ohio, the urgent questions behind this disaster echo the past year’s confrontations over working conditions in the lightly regulated rail industry. Indeed, the catastrophe in Ohio—together with another hazardous derailment in Houston, Tex., just a week later—drives home the steep costs in health and well-being that we all incur when we fail to heed rail workers’ calls for more regulation and adequate staffing mandates.

As rail workers sought to win basic guarantees of staffing support and sick leave from rail carriers long accustomed to selling labor short and winning major regulatory concessions from federal agencies, they stressed how the unsustainable demands placed on their working lives would result in disasters just like the one in East Palestine. The northeast Ohio village of about 5,000 people is 40 miles northwest of Pittsburgh and 20 miles south of Youngstown; already those metropolitan areas are under alert for the air and water contamination originating from the Palestine derailment. And in Palestine proper, many residents are already reporting troubling health symptoms and dying area wildlife as they weigh the risks of remaining exposed to the toxic fumes and chemical leaks from the derailed tanker cars carrying hazardous materials.

In the immediate aftermath of the derailment, rail officials ordered that the vinyl chloride hauled by five of the Norfolk Southern cars in the 150-car train be burned off to prevent a still greater explosion—but that action sent hydrogen chloride and phosgene, two dangerous gasses, spuming into the air. EPA investigators have since identified other hazardous chemicals the train had been hauling, including ethylene glycol monobutyl ether, ethylhexyl acrylate, isobutylene, and butyl acrylate. And the EPA has released a report saying that chemicals from the derailment have leached into the soil and water in the aftermath of the accident.

“We’ve been trying to share our concerns around this for a while now,” Ross Grooters, current rail employee and cochair of Railroad Workers United said. “It wasn’t a matter of if this was going to happen. It was a ‘when and where,’ and unfortunately, there’s a high likelihood that this will happen again, somewhere, if the root causes of the issues aren’t addressed.”

Rank-and-file workers organizing with Railroad Workers United (RWU) have waged high-profile pressure campaigns to improve rail safety and retain staffing. Jason Doering, an RWU organizer and a legislative representative of SMART Nevada, says that focusing industry and regulatory attention on the threat of derailments has been a continual challenge. Rail workers with Fight for Two Person Crews have been waging an allied campaign to lobby state and federal lawmakers to create and enforce standards for safer train staffing: a mandatory minimum of two person crews on freight trains. Last year, the Federal Railroad Administration proposed to reinstate a two-person crew rule and opened a public hearing in December 2022. During the public comment period for the rule change, more than 13,000 comments were logged in favor of it.

With the country’s attention now fixed on the disaster in East Palestine, reformers say that the time to act is now. “This is an opportunity for us to really identify safety risks in the industry,” said Greg Regan, president of the Transportation Trades Department of the AFL-CIO (TTD). He noted that the TTD has been working on improving rail safety for workers and the communities in the path of freight traffic. “I think it’s something that you’ll hear from a lot of rail workers and people who’ve been seeing sort of the changes in the industry, the deterioration of the drastic reductions in workforce and the focus on speed over safety.”

Nordstream War Crime: The Lack Of Media And Congressional Attention Is Mind-Boggling

BAR  |  Hersh’s article was a sensation online when it was published on February 8, 2023 but it has been ignored by major corporate media ever since. One has to ask if it really happened when the New York Times, Washington Post and television networks ignore what ought to be a huge news story.

It isn’t hard to understand why the same individuals and institutions who act as state mouthpieces would want to sweep Hersh’s reporting under the rug. For months they have acted as scribes instead of as journalists. The days when they would compete to break a scoop that a president wanted covered up are long gone. They now go along with establishment narratives, and promote imperialism as much as the people they are tasked with covering and confronting. Not one person asked about Hersh’s revelations at the daily white house press briefing the day after it was published.

Not only have the media ignored what Hersh reported but Republicans who claim to oppose Biden and the Democrats have also been silent. There are impeachable offenses committed in Hersh’s account but the people who should be asking questions have demurred. Republicans were as eager as Democrats to end Nord Stream’s existence. The word collusion which was bandied about so much in recent years is apropos here and that means the Hersh story is now at the bottom of the sea politically.

Biden is the fox in charge of the hen house, preparing to ask congress for the biggest defense budget in history, in large part to replenish the weapons used in Ukraine. The people who are asked to accept austerity for themselves are largely ignorant of how the conflict started and why their money is used for every purpose except for those that benefit them.

The Nord Stream sabotage is not the only news story which has been deep sized. The decision to sabotage Nord Stream was very reckless, and a sign that Biden and his team are willing to risk a wider war in order to do what they cannot, weaken Russia or get Vladimir Putin out of office, or destroy Russia economically. At the very moment that people in this country need to know the hard truth, it is being kept from them.

So complete is the indoctrination that Biden’s obvious instability is never discussed, even when the public see it for themselves unfiltered. At the State of the Union address he made this odd remark , “Name me a world leader who'd change places with Xi Jinping! Name me one! Name me one!" The strange outburst was never given the attention that it deserved.

The media are behaving in a manner that violates their own ethics and that may in fact be criminal. Lest anyone forget, the post-World War II Nuremberg trials charged the German press with committing “propaganda as an instrument of war.” Now in the nuclear age the media in what is known as the “collective west” are acting in a similar fashion, covering up crimes and repeating lies as truth in the name of making and continuing war.

The Biden administration did sabotage Nord Stream whether the media say so or not. Their lack of attention doesn’t change facts, but it does disappear them and that is incredibly dangerous to the entire world.

I Find It Gratifying To Watch Biden Dumbly And Angrily Glare In Response To Impertinent Kwestins...,

thehill |  The White House is once again struggling with its messaging, this time on the discovery of classified documents from President Biden’s time as vice president, where administration officials have sought to minimize the damage due to the revelation but have struggled to address it cohesively. 

Democrats, meanwhile, have had scattered reactions, ranging from praising the Biden administration over its cooperation with the Department of Justice (DOJ) and National Archives to suggesting a congressional review of the materials over national security concerns. Others have acknowledged what a political headache it has become for the president.

The disjointed responses are in part a reflection of mixed messaging by the White House, including when it prematurely told reporters last week that a search of classified documents potentially kept by Biden was “complete” before the administration said days later that more documents were found.

Officials have been adamant that they are limited in how much they can say about the discovery of the documents, what’s in them and when the president was informed of the situation, citing an ongoing Justice Department investigation and the appointment of a special counsel by Attorney General Merrick Garland, who was chosen by Biden to lead the agency.

“We understand that there’s a tension between the need to be cooperative with an ongoing DOJ investigation and rightful demands for additional public information. And so we’re trying to strike that balance and being as clear as we can,” Ian Sams, a White House spokesperson for investigations, told reporters on Tuesday.

Addressing the matter to the public has largely been left to White House press secretary Karine Jean-Pierre, who has at times sparred with reporters over questions about why the White House didn’t reveal the discovery when it was made in November, when Biden learned of it and whether any other searches were underway.

On Thursday, Jean-Pierre said that “you should assume that it’s been completed, yes” in response to a question about a second set of documents that turned up at Biden’s home in Delaware, including in his garage. But on Saturday, the White House acknowledged that five more classified documents had been found at Biden’s home — the first time it was the administration, not a news report, that revealed a discovery. 

When questioned on Tuesday over whether she’s being directed to not be forthcoming, Jean-Pierre said that she knew as much as the press did at the end of last week, before the next discovery was revealed on Saturday.

She also pushed back when asked if she’s upset that she came out to the briefing on Friday with incomplete and inaccurate information.

“Well, what I’m concerned about is making sure that we do not politically interfere in the Department of Justice, that we continue to be consistent over the last two years. And that is continue to refer you all when it comes to an ongoing process,” she said.

Jean-Pierre also added that she and other members of the press office found out about the documents in Biden’s office in Washington in November when CBS broke the news last week. The press secretary has also faced questions about whether the White House would have disclosed the findings at all if not for the CBS report.

Did Hunter Have Access To The Big Guy's Classified Documents Stash?

Newsweek  |  Republicans are speculating that the classified documents kept by President Joe Biden at his Delaware home may have been reviewed by the president's son Hunter Biden.

The White House confirmed on Thursday that classified documents dating back to the Obama administration had been found at the president's private residence in Wilmington.

That revelation came only days after it was announced that an initial batch of classified documents from Biden's time as vice president had been found in an office at Penn Biden Center in Washington, D.C.

Biden defended the discovery at his private home by insisting that he treats "classified materials seriously" and noting that the documents were inside a "locked" garage. Attorney General Merrick Garland appointed a special counsel to look into the Biden document finds later in the day.

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Republicans have argued that there is a double standard regarding the mishandling of government records. Some have demanded that the FBI raid Biden's home to look for more classified documents, as happened last summer at the Mar-a-Lago home of former President Donald Trump.

Following the new discovery in Delaware, a number of prominent conservatives floated conspiracy-laden suggestions that Hunter Biden may have seen the documents, although there is no evidence to suggest that he did.

"Given his extensive ties to China, Russia, and Ukraine, did Hunter Biden have access to Joe Biden's garage and therefore the classified documents?" Donald Trump Jr. tweeted.

"Gosh I hope Biden didn't let Hunter drive the Corvette," tweeted conservative commentator Liz Wheeler. "Hunter might've found the classified documents. Have we checked Hunter's naked crack-smoking Russian hooker videos for Biden's classified documents yet?"

As a private residence, it is not clear that any visitor logs would be kept at Biden's home in Delaware. Regardless of any records, the possibility that Hunter Biden visited his father's home at any point during the roughly six years since he was vice president seems far from remote.

However, there is little reason to believe that Hunter Biden would have reviewed the documents during a visit with his father.

Earlier this week, Donald Trump claimed without evidence that Chinese agents "saw" the classified documents that were stored at Penn Biden Center.

The status of any visitor logs taken at the residences of Trump, who is facing potential criminal indictments over his own classified documents scandal, is unclear.

 

 

An Ongoing "Special Investigation" Prevents Any Unwanted Congressional Oversight

WSJ  |  Additional pages marked as classified were found at President Biden’s Wilmington, Del., residence and have been given to the Justice Department, the White House counsel said Saturday, the latest revelation over the handling of classified information that has emerged this week.

The documents were discovered after Mr. Biden’s attorneys said earlier that some classified material, likely dating from his time as vice president, had been found in his garage at the residence in December.

One document marked as classified also was found at his residence earlier this week, the White House had said. In addition, documents marked as classified were found at his office at a Washington think tank in November.

In a statement Saturday, Richard Sauber, special counsel to the president, said he accompanied Justice Department officials to Wilmington on Thursday to retrieve the initial document from the residence—and during that process “five additional pages with classification markings” were found among the material, bringing the total to six pages discovered this week.

All material was immediately taken into possession by the Justice Department, Mr. Sauber said. The Justice Department declined to comment Saturday.

The revelations come after Attorney General Merrick Garland appointed Robert Hur, a former U.S. attorney during the Trump administration, as special counsel to examine why classified documents were found at both Mr. Biden’s home and the office he used at the think tank.

Aides had found documents with classified markings at the think tank, the Penn Biden Center for Diplomacy and Global Engagement, on Nov. 2, and turned them over to the National Archives. 

Mr. Biden’s team has said the material was inadvertently misplaced.

House Republican Conference Chair Rep. Elise Stefanik of New York said Saturday on Twitter, “House Republicans will hold Joe Biden’s DOJ & FBI accountable for their double standard of justice and uncover the TRUTH about why Biden has been allowed to be so irresponsible with classified documents for so long.”

 

Will "Classified Documents" Be The Pretence Used To Flush The Pantloader Out Of The Whitehouse?

MoA  |  On Monday CBS launched a story about classified papers found in a former office of president Biden. I am curious why the story came out and why it came out now.

U.S. attorney reviewing documents marked classified from Joe Biden's vice presidency found at Biden think tank

Attorney General Merrick Garland has assigned the U.S. attorney in Chicago to review documents marked classified that were found at the Penn Biden Center for Diplomacy and Global Engagement in Washington, two sources with knowledge of the inquiry told CBS News. The roughly 10 documents are from President Biden's vice-presidential office at the center, the sources said. CBS News has learned the FBI is also involved in the U.S. attorney's inquiry.

The material was identified by personal attorneys for Mr. Biden on Nov. 2, just before the midterm elections, Richard Sauber, special counsel to the president confirmed. The documents were discovered when Mr. Biden's personal attorneys "were packing files housed in a locked closet to prepare to vacate office space at the Penn Biden Center in Washington, D.C.," Sauber said in a statement to CBS News.

The story was kept under the wraps for more than two month. Biden's lawyers, who allegedly found the documents, informed the National Archive which took possession them the next day. It then informed the Attorney General who assigned a U.S. attorney and involved the FBI.

That is at least how the story is told.

But I am curious on how much back and forth there was between Biden's lawyers and the White House after the find. That the lawyers did not ask Biden or his handlers how to proceed with the documents before informing the National Archive can be excluded. The alleged find was easy to hide. The National Archive is said to not have known anything about the documents. The lawyers were bound by their attorney client privilege that would have prohibited them from talking about the issue.

By informing the National Archive, which then involved others, it was made inevitable that someone would let the media know about this.

So why weren't those documents just burned up? Why not avoid the scandal that has now been reinforced by a second find of such documents, this time in a garage at Biden's home in Wilmington? Who made these decisions?

Biden is not an honest man when it comes to political issues. He is not a stranger to covering things up.

The decision to let this out, to not cover it up, is so far unexplained. The whole thing can only hurt Biden. It also disables the Democrats of using Trump's withholding of classified papers as a weapon against him.

Was it the very special content of the classified documents that made this move necessary? Or is there something else that we do not yet know about? Something that led to the judgment that the current limit hangout of some dirty linen is better than to have a real scandal come to the public's knowledge.

The whole thing is puzzling.

What Is The U.S. Strategic Objective For It's War On Russia?

strategic-culture |  But was the destruction of Russia always the main strategic U.S. aim? Is the objective not – rather – to ensure the survival of the financial and associated military structures, both U.S. and international, that permit huge profits and the transfer of global savings to accrue to the western security ‘Borg”? Or, simply put, the preservation of the dominance of U.S. financial hegemony.

As Oleg Nesterenko writes “this survival is simply impossible without military-economic, or more precisely, military-financial world domination. The concept of survival at the expense of world domination was clearly articulated at the end of the Cold War by Paul Wolfowitz, the U.S. Under Secretary of Defence, in his so-called Wolfowitz Doctrine, which viewed the United States as the only remaining superpower in the world and whose main goal was to maintain that status: “to prevent the reappearance of a new rival either in the former Soviet Union or elsewhere that would be a threat to the order previously represented by the Soviet Union””.

The point here is that though the logic of the situation would seem to demand an U.S. pivot from an unwinnable Ukraine war to a ‘move’ to another ‘threat’, in practice the calculus is likely more complicated.

The celebrated military strategist Clausewitz, made a clear distinction between what we now call ‘wars of choice’ and what the latter termed ‘wars of decision’ – the latter being existential conflicts, by his definition.

The Ukraine war generally is assumed to fall into the first category of ‘a war of choice’. But is this right? Events have unfolded far from as expected in the White House. The Russian economy has not collapsed – as smugly predicted. President Putin’s support stands high at 81%; and collective Russia has consolidated around Russia’s wider strategic objectives. Furthermore, Russia is not isolated globally.

Essentially, Team Biden may have indulged in jaundiced thinking – projecting onto today’s very different, culturally Orthodox Russia, opinions that they formed during the earlier era of the Soviet Union.

May it be that Team Biden’s calculus then, has had to shift with the dawning understanding of these unforeseen outcomes. And especially, the exposure of the American and NATO military challenge as being inferior to its reputation?

This was a fear Biden actually exposed in his White House meeting during the Zelensky visit before Christmas. Would NATO survive such candour? Would the EU remain intact? Grave considerations. Biden said he had spent hundreds of hours speaking with EU leaders to mitigate these risks.

More to the point, would western markets survive such candour? What happens if Russia, over the winter months, brings Ukraine to the verge of system collapse? Will Biden and his strongly anti-Russian administration simply throw up their hands and concede victory to Russia? Based on their maximalist rhetoric and commitment to Ukrainian victory, that appears unlikely.

The point here is that markets remain highly volatile as the West stands at the cusp of a recessionary contraction that the IMF has warned likely will cause fundamental damage to the global economy. That is to say, the U.S. economy resides poised at the most sensitive of moments – at the edge of a possible financial abyss.

Might not Biden ‘going explicit’ that sanctions on Russia are not likely to be reversed; that supply-line disruption will persist; and that inflation and interest rates will be heading higher, be sufficient to push markets ‘over the edge’?

These are unknowns. But the anxiety touches on U.S. ‘survival’ – that is to say, the survival of the dollar hegemony.

Biden And Team Go To Mexico

This will be hard for Joe. He's going to Mexico -- along with clown advisors Blinken and Sullivan, Kamala was not invited in spite of her skin color and border expertise.

AMLO is similar to Putin: stoic, polite, nerves of steel, long memory, well informed, able to control agendas and conversations. He and his able staff have been preparing for this meeting with Biden and Trudeau/Freeland. They will be polite and likely maintain a focus on border issues along with trade but the reception already looks set up to be chilly. AMLO just informed Biden that he will need to land at an airport way outside the city which means he'll need to endure a 60 minute ride through traffic to get to the meeting. Same for Trudeau.

Mexican media reporting that President Joe Biden and Air Force One will NOT land next week at Mexico's new Felipe Ángeles Airport, rejecting AMLO's public request to do so.

The reason is security concerns about the drive to the city, according to Mileniohttps://t.co/GbO79Tq4Qv

— Eric Martin (@EMPosts) January 4, 2023

"The new airport is about 30 miles north of Mexico City’s National Palace, where the summit of North American leaders will take place, and traffic can mean the drive can take more than an hour. The more convenient Mexico City International Airport, which has serviced the capital since 1931, is about five miles from the Mexican version of the White House.

Biden will visit Mexico for his first international trip in the Western Hemisphere since taking office last year amid a record-breaking wave of illegal immigration across the border between the two countries. AMLO last year blamed Biden for inspiring the border rush, saying, “Expectations were created that with the government of President Biden there would be a better treatment of migrants. And this has caused Central American migrants, and also from our country, wanting to cross the border thinking that it is easier to do so.”

NYPost |  This takes air traffic control to a whole new level.

Mexican President Andrés Manuel López Obrador is asking President Biden to land Air Force One at a new airport farther from the center of Mexico City when he visits next month — describing it as a favor to quell domestic criticism of the project.

The unusual request sets up a potentially awkward start to the visit and would require Biden’s motorcade to add time to its commute when the president arrives Jan. 9 for talks with López Obrador and Canadian Prime Minister Justin Trudeau.

“I am taking the opportunity to tell [Biden] that out of friendship, out of diplomacy, we ask him that his plane land at the Felipe Ángeles International Airport,” the 69-year-old Mexican president, known by his initials, AMLO, said Wednesday at a press conference.

AMLO said Trudeau had already agreed to land at the more distant airport, which opened in March, and said he was presenting his request for Biden to the US Embassy, according to Mexico City’s Excélsior newspaper.

Biden previously visited Mexico as vice president in February 2016, when he brought his son Hunter with him aboard Air Force Two after hosting his Mexican business associates at the official vice presidential residence in Washington.

Hunter Biden is under federal investigation for potential crimes including tax fraud and unregistered foreign lobbying linked to an array of influence-peddling operations while his father was vice president and held sway in countries such as Mexico, China and Ukraine. House Republicans, who retake power next week, are vowing to determine Joe Biden’s role in his family’s overseas consulting work.

Joe Biden in 2015 posed for a group photo with his son and Mexican billionaires Carlos Slim and Miguel Alemán Velasco in DC. In 2016, Hunter Biden emailed Alemán’s son, apparently from Air Force Two en route to Mexico, complaining that he hadn’t received reciprocal business favors after “I have brought every single person you have ever asked me to bring to the F’ing White House and the Vice President’s house and the inauguration.”

 

Cartel de Sinaloa Gives AMLO 72 Hours To Free Ovidio - Or Else!!!

intelslava |  There has been some speculation that Mexican authorities did this at the behest of the United States in the lead-up to the meeting of North American leaders next week in Mexico City. There is, however, reason to be skeptical of such; such a violent response by CDS was to be expected after the Battle of Culiacán in 2019. If Sinaloa's demands aren't met and they do follow through with their threats, the deterioration in the security situation could place the meeting in jeopardy.

Such would be a blow to U.S. interests, given Washington's foreign policy of late has increasingly placed an emphasis on the role of Mexico within American strategy. Likewise, Chinese reach in Latin America is growing, so the more the U.S. has to focus resources on Mexico, the more it is constrained in operating elsewhere in the region to combat this trend.

Finally, there are more immediate political considerations at play. Mexico in 2021 was the 2nd largest trading partner of the United States, with total value of this commerce estimated at $661 Billion. This is important, as Mexican national authorities have previously identified CDS (and CJNG) as a serious threat to cross border trading relations, given their influence in the Mexican borderlands. Disruptions to this trade would affect not just important states like Texas and California, but the national economy at large.

Useless And Impotent Biden Administration Forces El Paso Mayor To Declare A State Of Emergency

NYPost  |  The mayor of El Paso declared a state of emergency Saturday ahead of Wednesday’s deadline to lift a COVID-era policy that is expected to result in more than 6,000 migrants crossing the border a day into an already overwhelmed city where hundreds are already sleeping on the streets.

“Our asylum seekers are not safe,” said El Paso Mayor Oscar Leeser at a specially called press conference to announce the emergency measures. “We have hundreds and hundreds on the street and that’s not the way we treat our people.”

Temperatures have dipped into the 20s in the city, he said, and migrants who have been released into the city are sleeping on downtown streets.

“I want to make sure that people are treated with dignity,” Leeser said, adding that he made the decision to call a state of emergency after a conference call with federal, state and municipal officials. The city government is working with local non-profits that are helping newly arrived migrants travel to other parts of the country where many have family.

“We all talked about what was best for our community,” he said, adding that more than 1,500 migrants have been crossing the border daily into the city ahead of the Dec. 21 lifting of Title 42, a Trump-era policy that saw migrants sent back into Mexico.

The sober press conference was in sharp contrast to the one called on Thursday. Leeser walked off with the microphone to avoid answering questions after he was challenged about not calling a state of emergency to cope with the migrant influx. At the time, he said that the federal government had promised the beleaguered city $6 million to help it cope with the crisis.

“We were able to get the funding without having to [declare an emergency],” Leeser claimed Thursday.

On Saturday, Leeser did not rule out using a nearby military base to house some of the migrants, and that the city was cooperating with state and federal authorities to address the situation.

 

No One In The Biden Administration Thought About American Dependence On Russian Diesel?!?!?

oilprice  |  Last week, the Energy Information Administration (EIA) reported that distillate inventories were at their lowest levels since 2008. (The primary distillates are diesel, jet fuel ,and heating oil). However, in 2008 distillate levels were low coming out of spring. Currently, they are low going into fall. That’s far worse than the situation in 2008.

Distillate demand generally spikes in spring — when farmers are planting crops — and in fall, when they are harvesting those crops and people start buying fuel oil for winter. Thus, a low distillate inventory in late April 2008 isn’t quite as serious as a low inventory in October 2022. In fact, distillate inventories haven’t been this low in October since the EIA began reporting this data in 1982.

These low distillate inventories are why diesel prices are above $5.00 a gallon nationwide, even though the nationwide average price for gasoline has dropped below $4.00 a gallon.

Why is there a diesel shortage this year? There are four factors, but two of those factors are in play every year.

As mentioned above, distillate demand spikes at this time of year. But, it does that every year.

This is also the time of year that refineries are doing maintenance. They tend to do that in the spring and fall, which is when demand is lower and the weather is decent. So, refinery capacity drops at this time of year.

Third, U.S. refinery capacity has fallen in the past few years as several unprofitable refineries were closed. So, that’s a new factor that has appeared in the past couple of years.

But the primary reason is the cutoff of Russian imports. Prior to Russia’s invasion of Ukraine, the U.S. was importing nearly 700,000 barrels per day (BPD) of petroleum and petroleum products. Most of those imports were finished products and refinery inputs that boosted distillate supplies in the U.S.

The loss of those Russian imports have caused problems for refineries as they struggle to fill holes in their product slates. Refineries do have a small amount of flexibility in shifting gasoline production to diesel production. But it’s a relatively small amount (e.g., ~5% in a refinery I once worked in). That also means that if refiners do shift production, that also potentially creates shortages in the gasoline market.

Does Any Rational American Care What Zombie J. Puppet Prattles About....?

Guardian |   Millions of Americans are currently working two or more jobs in order to make ends meet, as global inflation and corporations jacking up prices have sent prices of food, gas, housing, health insurance and other necessities soaring in the past year.

Cashe Lewis, 31, of Denver, Colorado works two jobs and is currently trying to find a third job to cover the recent $200 monthly rent increase to her apartment. She works days as a barista at Starbucks, but claims it’s been difficult to get enough hours even with taking extra shifts whenever she can due to scheduling cuts as part of the crackdown on union organizing by management.

At night she works at a convenience store because the hours are reliable, and works six days a week, often 16 hours a day.

“I’m exhausted all the time,” said Lewis. “On the one day I have off a week, I donate plasma for extra money. I’m literally selling my blood to eat because I have no choice.”

Her partner suffers from epilepsy and can’t work full-time hours because of it. Even with insurance, their medication is expensive and she spends about half of a two-week paycheck at Starbucks to cover the health insurance premiums.

Over the past five years, she has struggled with homelessness, and was previously fired from her job for sleeping in her car behind her place of employment.

“All of my friends and family work multiple jobs as well, just trying to keep our heads above water. Nothing is affordable and the roadblocks set up to keep people in the cycle of poverty benefit the most wealthy members of our society,” added Lewis. “We aren’t living, we’re barely surviving and we have no choice but to keep doing it.”

More Americans have been working two or more jobs over the past few decades, according to data from the US census, with women more likely than men to have multiple jobs and multiple jobholders most prevalent among low-wage workers.

Laura Richwine of Omaha, Nebraska, works two jobs, one in fraud prevention and the other doing administrative work, and had previously been working three jobs to keep up with hefty medical bills she’s been facing since being hit by a car in 2014.

“It’s rough and I barely have any energy to keep up with much else,” said Richwine. “I’ve got a bachelor’s degree and have been working for over 10 years, but up until this year I had never had a job that paid more than $15 an hour. Many places around me still only offer Nebraska minimum wage, which is $9 an hour. You can hardly even buy food with that amount.”

Based on data from the Bureau of Labor Statistics, more than 400,000 Americans work two full-time jobs. In September 2022, 4.9% of all the more than 164 million US workers held two or more job positions, over 7.7 million workers.

Though US census data estimates these rates and numbers to be much higher, at 7.8% in the most recent year where data is available, 2018, about 13 million workers, while BLS data at the time estimated 5.0% of the workforce holding multiple jobs.

Both data sets are considered an underestimate of the number of multiple jobholders in the US labor market due to constrictions on what is defined as a multiple jobholder and the lack of data on self-employment, such as gig workers.

Not Psychological Warfare But Failure To Recognize Objective Reality...,

TAC  |  Given that American politicians are always more preoccupied by domestic affairs than foreign policy, members of Congress are quick to adopt the “true faith.” This faith explains why for the last eight years members thought a future war with Russia was a low-risk affair. Ukrainians would provide the cannon fodder and Washington would provide the expensive weaponry and munitions. 

Predictably, Washington’s governing strategic principles are unchanged from previous U.S. interventions around the world. Muddle through: masses of soldiers—in this case Ukrainians advised by U.S. and allied officers—and huge infusions of cash, equipment, and technology can and will permanently alter strategic reality in America’s favor. 

The stupefying air of self-righteousness the Biden administration assumes when it attacks erstwhile strategic partners such as Saudi Arabia or delivers moralizing lectures to Beijing’s leadership, or when its media surrogates express contempt for the Russian state, is downright dangerous. Political figures in Washington are ready to indulge any transgression if it is committed in the name of destroying Russia. They do not view U.S. foreign policy in the context of a larger strategy, nor do they comprehend Russia’s capacity to hurt the United States, a bizarre judgment of Russia’s actual military and economic potential. 

The result is a toxic climate of ideological hatred making it hard to imagine a contemporary U.S. secretary of State ever signing an international agreement renouncing war as an instrument of U.S. national policy, as Secretary of State Frank Kellogg did in 1928. But as one of Shakespeare’s characters in the Merchant of Venice warned, “The truth will out.” 

The ongoing buildup of 700,000 Russian forces with modern equipment in Western Russia, Eastern Ukraine and Belorussia is a direct consequence of Moscow’s decision to adopt an elastic, strategic defense of the territories it seized in the opening months of the war. It was a wise, though politically unpopular choice in Russia. Yet, the strategy has succeeded. Ukrainian losses have been catastrophic and by November, Russian Forces will be in a position to strike a knockout blow. 

Today, there are rumors in the media that Kiev may be under pressure to launch more counterattacks against Russian defenses in Kherson (Southern Ukraine) before the midterm elections in November. At this point, expending what little remains of Ukraine’s life blood to expel Russian forces from Ukraine is hardly synonymous with the preservation of the Ukrainian state. It’s also doubtful that further sacrifices by Ukrainians will assist the Biden administration in the midterm elections.  

The truth is Moscow’s redline concerning Ukrainian entry into NATO was always real. Eastern Ukraine and Crimea were always predominantly Russian in language, culture, history, and political orientation. Europe’s descent into economic oblivion this winter is also real, as is support for Russia’s cause in China and India and Moscow's rising military strength.

In retrospect, it is easy to see how Congress was beguiled by the denizens of think tanks, lobbyists, and retired generals, who are, with few exceptions, people with a cocktail level of familiarity with high-end conventional warfare. Members of the House and Senate were urged to support dubious strategies for the use of American military assistance, including reckless scenarios for limited nuclear war with Russia or China. For some reason, U.S. politicians have lost sight of the reality that any use of nuclear weapons would overwhelm the ends of all national policy. 

Apropos That A False-Flag War Crime Presages The Open Phase Of Biden's War

indianpunchline |  To be sure, the Biden team cannot but be worried that London is drifting into chaos and the Conservative Party’s faction leaders scurry around like headless chicken looking for a substitute to Truss who stepped down on Thursday. 

The British economy is disintegrating and the Chancellor of the Exchequer Jeremy Hunt anticipates that a cut on the defence budget is inevitable. That is to say, the Deep State’s fun and frolic in Kiev is no longer affordable. The UK is heading for hard times, the rubric of Global Britain looks delusional. 

Enter President Biden. The reports from Moscow suggest that Russians have hard intelligence to the effect that Washington has demanded from President Zelensky some spectacular performance on the battlefield as the midterms in the US on November 8 is round the corner. 

That adds to the enigmatic comment by a second defence minister in London James Heappey that the conversations that Wallace would be having in Washington were “beyond belief,” hinting that particularly sensitive and serious issues were on the agenda.  

Indeed, after arrival in Washington, Wallace headed straight for the White House to meet up with National Security Advisor Jake Sullivan, Biden’s point person for the Ukraine war. A White House readout said the two officials “exchanged views on shared national security interests, including Ukraine.  They underscored their commitment to continue providing Ukraine with security assistance as it defends itself against Russian aggression.” 

As British politics descends to skulduggery that will extend into months, the US will be a stakeholder. Historically, since the World War 2, Britain led the US from the rear in critical  situations involving Russia. 

Indeed, Biden issued a rare statement on Truss’ exit, which stated that the US and the UK “are strong Allies and enduring friends — and that fact will never change.” He thanked her “for her partnership on a range of issues including holding Russia accountable for its war against Ukraine.” Biden underscored that “We will continue our close cooperation with the U.K. government as we work together to meet the global challenges our nations face.” 

Biden has sent a powerful message to Britain’s political class signalling that he expects them to come up with a new prime minister who will faithfully adhere to the compass set by Boris Johnson on Ukraine. In immediate terms, what does it signal for the Anglo-American project in Kherson? Will it go ahead? That is the big question. 

The situation in Kherson is assuming the nature of a large-scale military confrontation, as Zelensky is throwing everything into it in an attempt to wrest control of the strategic Kherson city, which has been under Russian control since March, before the midterms in the US.

Successful G7 Oil Price Caps = OPEC Rival Consumption-Based Price Setting Cartel

indianpunchline |  The Biden Administration tempted Fate by underestimating the importance of oil in modern economic and political terms and ignoring that oil will remain the dominant energy source across the world for the foreseeable future, powering everything from cars and domestic heating to huge industry titans and manufacturing plants. 

A smooth transition to green energy over time is largely dependent on the continued availability of plentiful, cheap fossil fuel. But the Biden Administration ignored that those who have oil reserves wield a huge amount of power over our oil-centred energy systems, and those who buy oil are on the contrary, cripplingly dependent on the market and the diplomatic relations which drive it. 

The Western powers are far too naive to think that an energy superpower like Russia can be simply “erased” from the ecosystem. In an “energy war” with Russia, they are doomed to end up as losers.  

Historically, Western nations understood the imperative to maintain good diplomatic relations with oil-producing countries. But Biden threw caution into the wind by insulting Saudi Arabia calling it a “Pariah” state. Any improvement in the US-Saudi relations is not to be expected under Biden’s watch. The Saudis distrust American intentions. 

The congruence of interests on the part of the OPEC to keep the prices high is essentially because they need the extra income for their expenditure budget and to maintain a healthy investment level in the oil industry. The International Monetary Fund in April projected Saudi Arabia’s breakeven oil price — the oil price at which it would balance its budget — at $79.20 a barrel. 

The Saudi government does not disclose its assumed breakeven oil price. But a Reuters report suggested that a preferred price level would be around $90 to $100 a barrel for Brent crude — at which level, it won’t have a huge impact on the global economy. Of course, over $100 will be a windfall. 

Meanwhile, a “systemic” crisis is brewing. It is only natural that the OPEC views with scepticism the recent moves by the US and the EU to push back Russia’s oil exports. The West rationalises these moves as aimed at drastically reducing Russia’s income from oil exports (which translates as its resilience to fight the war in Ukraine.) The latest G7 move to put a cap on the prices at which Russia can sell its oil is taking matters to an extreme. 

The OPEC regards it as a paradigm shift, as it implicitly challenges the cartel’s assumed prerogative to ensure that global oil supply matches demand, where one of the key measures of supply-demand balance is price. Arguably, the West is de facto setting up a rival cartel of oil-consuming countries to regulate the oil market. 

No doubt, the West’s move is precedent-setting — namely, to prescribe for geopolitical reasons the price at which an oil-producing country is entitled to export its oil. If it is Russia today, it can as well be Saudi Arabia or Iraq tomorrow. The G7 decision, if it gets implemented, will erode OPEC’s key role regulating the global oil market.

Simply Put - Biden's Owner-Operators Have Failed The World...,

michaelshellenberger  |  Many people in the U.S. are still unaware of just how dire the situation is in Europe. They have started logging their old-growth forests for wood fuel to stay warm during the winter. You can see in a tweet that just came out today from somebody in Denmark that “people are stealing each other's wood pellets and their wood briquettes as soon as they're delivered.” To make matters worse, “There's constant reports of cars having their tanks drilled and their gas stolen.” Remember, it's not even winter yet. Winter's actually over 72 days away. So this is a very serious situation.

You can see that in Poland people are actually burning trash to stay warm. Burning trash in your fireplace creates toxic smoke. It's hazardous. The government's considering handing out masks so people can breathe more safely when they're outdoors.

Recall that natural gas is the reason the United States reduced its carbon emissions more than any other country in the world. Carbon emissions have been on the decline globally, in large measure, because of the transition from coal to gas. Natural gas is something that most reasonable people agree is a superior fuel to coal. Natural gas is the reason the United States reduced its emissions by 22% between 2005 and 2020, which is five percentage points more than the United States had agreed to reduce our emissions under cap and trade legislation, which nearly passed Congress in 2010 and under the UN Paris Climate Agreement.

At the same time Biden was going to Venezuela and Saudi Arabia to produce more oil. Biden administration was refusing to even meet with oil and gas executives. That’s a pretty serious snub when you consider that it’s an industry you want to expand production.

An oil and gas analyst on Twitter criticized a Senator from Wisconsin for suggesting the Democrats are responsible for the lack of refining capacity. He said, “What — do you also blame a political party for a flat tire?”

I pointed out that a single oil refinery outage would have little impact if we had sufficient refinery capacity, and the reason we don't is that politicians, mostly Democrats have used regulations to prevent their construction. When I interviewed executives one said to me, “If you were an oil company, why would you invest hundreds of millions of dollars into expanding refining capacity if you thought the federal government would shut you down in the next few years? The narrative coming out of this administration is absolutely insane.”

 

 

Brandon's Secret Promise To OPEC Backfired

michaelshellenberger |  In early September, United States Secretary of Energy, Jennifer Granholm, told Reuters that President Joe Biden was considering extending the release of oil from America’s emergency stockpiles, the Strategic Petroleum Reserve (SPR), through October, and thus beyond the date when the program had been set to end. But then, a few hours later, an official with the Department of Energy called Reuters and contradicted Granholm, saying that the White House was not, in fact, considering more SPR releases. Five days later, the White House said it was considering refilling the SPR, thereby proposing to do the exact opposite of what Granholm had proposed.

The confusion around the Biden administration’s petroleum policy was cleared up yesterday after a senior official revealed that the White House had made a secret offer to buy up to 200 million barrels of OPEC+ oil to replenish the SPR in exchange for OPEC+ not cutting oil production. The official said the White House wanted to reassure OPEC+ that the US “won’t leave them hanging dry.” The fact that this offer was made through the White House, not the Department of Energy, may explain why a representative of the Department called Reuters to take back the remarks of Granholm, who has shown herself to be out-of-the-loop, and at a loss for words, relating to key administration decisions relating to oil and gas production.

The revelation poses political risks for Democrats who, in the spring of 2020, killed a proposal by President Donald Trump to replenish the SPR with oil from American producers, not OPEC+ ones, and at a price of $24 a barrel, not the $80 a barrel that the Biden White House promised to OPEC+. At the time, Trump was seeking to stabilize the American oil industry after the Covid-19 pandemic massively reduced oil demand. Trump and Congressional Republicans proposed spending $3 billion to fill the SPR. Senate Democratic Leader Chuck Schumer successfully defeated the proposal, and later bragged that his party had blocked a “bailout for big oil.”

Even normally strong boosters of the Biden White House viewed the Democrats’ opposition to refilling the SPR as a major blunder. “That decision,” noted Bloomberg, “effectively cost the US billions in potential profits and meant Biden had tens of millions of fewer barrels at his disposal with which to counter price surges.” Moreover, observed Bloomberg, it will take significantly more oil today to fill the SPR than it would have two years ago. In spring 2020, the SPR contained 634 million barrels out of a capacity of 727 million. Now, the reserve is below 442 million barrels, its lowest level in 38 years.

The decision looks even worse in light of the decision by OPEC+ today to cut production, which will increase oil prices. The Biden administration in recent days has been pulling out the stops trying to persuade Saudi Arabia and other OPEC+ members, a group that includes Russia, to maintain today’s levels of oil production. Last Friday, the Biden administration sought a 45-day delay in a civil court proceeding over whether Saudi Arabia’s Crown Prince Mohammed bin Salman should have sovereign immunity for the murder of Washington Post columnist Jamal Khashoggi, for which bin Salman has taken responsibility.

The behavior by the Biden White House displays a willingness to sacrifice America’s commitment to human rights for the president’s short-term political needs. Instead of pleading with OPEC+ to maintain or increase high levels of oil production, the Biden administration could have simply allowed for expanded domestic oil production. Instead, Biden has issued fewer leases for on-shore and off-shore oil production than any president since World War II. As such, the pleadings by Biden and administration officials have backfired. The perception of the U.S. in the minds of OPEC+ members has weakened while the influence of Russian President Vladimir Putin has strengthened.

Why is that? Why did the Biden administration decide to spend so much political capital trying, and failing, to get Saudi Arabia and other OPEC+ members to expand production when it could have simply expanded oil production domestically? What, exactly, is going on?

OPEC+ - Led By Russia - Smacks The Taste Out Of Brandon's Mouth

cnbc  |  A group of some of the world’s most powerful oil producers on Wednesday agreed to impose deep output cuts, seeking to spur a recovery in crude prices despite calls from the U.S. to pump more to help the global economy.

OPEC and non-OPEC allies, a group often referred to as OPEC+, decided at their first face-to-face gathering in Vienna since 2020 to reduce production by 2 million barrels per day from November.

Energy market participants had expected OPEC+, which includes Saudi Arabia and Russia, to impose output cuts of somewhere between 500,000 barrels and 2 million barrels.

The move represents a major reversal in production policy for the alliance, which slashed output by a record 10 million barrels per day in early 2020 when demand plummeted due to the Covid-19 pandemic. The oil cartel has since gradually unwound those record cuts, albeit with several OPEC+ countries struggling to fulfill their quotas.

Oil prices have fallen to roughly $80 a barrel from more than $120 in early June amid growing fears about the prospect of a global economic recession.

The production cut for November is an attempt to reverse this slide, despite repeated pressure from U.S. President Joe Biden’s administration for the group to pump more to lower fuel prices ahead of midterm elections next month.

White House ‘disappointed’

The White House said in a statement that Biden was “disappointed by the shortsighted decision by OPEC+ to cut production quotas while the global economy is dealing with the continued negative impact of Putin’s invasion of Ukraine.”

It said that Biden had directed the Department of Energy to release another 10 million barrels from the Strategic Petroleum Reserve next month.

“In light of today’s action, the Biden Administration will also consult with Congress on additional tools and authorities to reduce OPEC’s control over energy prices,” the White House said.

The statement added that the OPEC+ announcement served as “a reminder of why it is so critical that the United States reduce its reliance on foreign sources of fossil fuels.”

To be sure, the burning of fossil fuels, such as coal, oil and gas, is the chief driver of the climate emergency.