Oct 16

Today’s News 16th October 2021

  • Bovard: When Barack Obama Got Away With Murder
    Bovard: When Barack Obama Got Away With Murder

    Authored by Jim Bovard via The Libertarian Institute,

    This week (Thursday) marked the 10th anniversary of the drone killing of Abdulrahman Al-Aulaqi, a 16 year old born in Colorado and killed in Yemen. He perished as part of Obama’s crackdown on terrorist suspects around the world. His father, who was also an American citizen, was killed two weeks earlier by another drone strike ordered by Obama.

    I wrote a piece condemning Obama’s assassination program for Christian Science Monitor in 2011,  “Assassination Nation: Are There Any Limits on President Obama’s License to Kill?” I derided the Obama administration’s claim that the president possessed a “right to kill Americans without a trial, without notice, and without any chance for targets to legally object…Killings based solely on presidential commands radically transform the relation of the government to the citizenry.”

    Readers responded by calling for my assassination. My article mentioned an American Civil Liberties Union lawsuit pressuring the Obama administration “to disclose the legal standard it uses to place US citizens on government kill lists.” 

    “Will R.” was indignant: “We need to send Bovard and the ACLU to Iran. You shoot traders and the ACLU are a bunch of traders.” (I was pretty sure the ACLU was not engaged in international commerce). “Jeff” took the high ground: “Hopefully there will soon be enough to add James Bovard to the [targeted killing] list.” Another commenter—self-labeled as “Idiot Savant”—saw a grand opportunity: “Now if we can only convince [Obama] to use this [assassination] authority on the media, who have done more harm than any single terror target could ever dream of…”

    Here’s a riff I did on Obama’s assassination program in 2013:

    The Obama administration yesterday leaked out its confidential legal paper on killing Americans to NBC News. Obama’s legal wizards decided that the Fifth Amendment’s pledge that no citizen shall “be deprived of life, liberty, or property, without due process of law” is invalid in cases of imminent attack by terrorists.

    Though this might sound reasonable, the memo proceeds to craft a totally bogus notion of “imminent.” But, as John Glaser notes at Antiwar.com, “The memo refers to what it calls a ‘broader concept of imminence’ than what has traditionally been required, like actual intelligence an ongoing plot against the US. ‘The condition that an operational leader present an ‘imminent’ threat of violent attack against the United States does not require the United States to have clear evidence that a specific attack on U.S. persons and interests will take place in the immediate future,’ the memo states, contradicting conventional international law.”

    Obama top adviser Robert Gibbs had said the 16-year old should have had “a more responsible father” when asked directly about the assassination by drone…

    In a January 2017 USA Today piece, I urged Trump to open the files on Obama’s killings:

    “Trump should quickly reveal the secret memos underlying Obama’s “targeted killing” drone assassination program.

    Administration lawyers defeated lawsuits by the ACLU, The New York Times, and others seeking disclosure of key legal papers on how the president became judge, jury and executioner. A Trump administration could disclose the memos and white papers without endangering anything other than the reputation of the soon-to-be former president and his policymakers.

    Didn’t happen. The Trump administration could have exposed vast numbers of abuses by the Obama administration the same way that Obama (partially) opened the files on some of President George W. Bush’s torture policy and other atrocities. But as usual, the Trump team blew the opportunity.

    As a result, Obama can pirouette as a champion of civil liberties while the horrendous precedents he set continue to endanger Americans and anyone else in the world in the vicinity of people suspected of bad thoughts by the U.S. government.

    Hat tip to Dan Alban, an Institute of Justice lawyer who has scourged the Justice Department, IRS, and plenty of other government agencies.

    Tyler Durden
    Fri, 10/15/2021 – 23:50

  • Tracking Global Hunger & Food Insecurity
    Tracking Global Hunger & Food Insecurity

    Hunger is still one the biggest – and most solvable – problems in the world.

    Every day, as Visual Capitalist’s Bruno Venditti notes, more than 700 million people (8.8% of the world’s population) go to bed on an empty stomach, according to the UN World Food Programme (WFP).

    The WFP’s HungerMap LIVE displayed here tracks core indicators of acute hunger like household food consumption, livelihoods, child nutritional status, mortality, and access to clean water in order to rank countries.

    After sitting closer to 600 million from 2014 to 2019, the number of people in the world affected by hunger increased during the COVID-19 pandemic.

    In 2020, 155 million people (2% of the world’s population) experienced acute hunger, requiring urgent assistance.

    The Fight to Feed the World

    The problem of global hunger isn’t new, and attempts to solve it have making headlines for decades.

    On July 13, 1985, at Wembley Stadium in London, Prince Charles and Princess Diana officially opened Live Aid, a worldwide rock concert organized to raise money for the relief of famine-stricken Africans.

    The event was followed by similar concerts at other arenas around the world, globally linked by satellite to more than a billion viewers in 110 nations, raising more than $125 million ($309 million in today’s dollars) in famine relief for Africa.

    But 35+ years later, the continent still struggles. According to the UN, from 12 countries with the highest prevalence of insufficient food consumption in the world, nine are in Africa.

     

    Approximately 30 million people in Africa face the effects of severe food insecurity, including malnutrition, starvation, and poverty.

     

    Wasted Leftovers

    Although many of the reasons for the food crisis around the globe involve conflicts or environmental challenges, one of the big contributors is food waste.

    According to the United Nations, one-third of food produced for human consumption is lost or wasted globally. This amounts to about 1.3 billion tons of wasted food per year, worth approximately $1 trillion.

    All the food produced but never eaten would be sufficient to feed two billion people. That’s more than twice the number of undernourished people across the globe. Consumers in rich countries waste almost as much food as the entire net food production of sub-Saharan Africa each year.

    Solving Global Hunger

    While many people may not be “hungry” in the sense that they are suffering physical discomfort, they may still be food insecure, lacking regular access to enough safe and nutritious food for normal growth and development.

    Estimates of how much money it would take to end world hunger range from $7 billion to $265 billion per year.

    But to tackle the problem, investments must be utilized in the right places. Specialists say that governments and organizations need to provide food and humanitarian relief to the most at-risk regions, increase agricultural productivity, and invest in more efficient supply chains.

    Tyler Durden
    Fri, 10/15/2021 – 23:30

  • The Science Of Propaganda Is Still Being Developed And Advanced
    The Science Of Propaganda Is Still Being Developed And Advanced

    Authored by Caitlin Johnstone via Medium.com,

    We live in a far less free society than most of us think.

    It looks like we’re free. We don’t get thrown in prison for criticizing our government officials. We can vote for whoever we want. We can log onto the internet and look up information on any subject we’re interested in. If we want to buy a product we have many brands we are free to choose from.

    But we’re not free. Our political systems are set up to herd people into a two-party system that is controlled on both sides by plutocrats. The news media that people rely on to form ideas about what’s going on and how they should vote are controlled by the plutocratic class and heavily influenced by secretive government agencies. Internet algorithms are aggressively manipulated to show people information which favors the status quo. Even our entertainment is rife with Pentagon and CIA influence.

    How free is that? How free is your speech if there are myriad institutional safeguards in place to prevent speech from ever effecting political change?

    It doesn’t matter what you’re allowed to say if it doesn’t matter what you say. It doesn’t matter if you’re allowed to call the oligarchic puppet put in office by the last fake election a dickhead. It doesn’t matter if you’re allowed to Google any information you want only to find whatever information Google wants you to find.

    What is the functional difference between a regime which directly censors the internet to prevent dissent and a regime which works with Silicon Valley plutocrats to control information via algorithms and has a system in place which prevents dissent from having any meaningful impact?

    There is none.

    We live in a profoundly unfree society that is disguised as a free society. Western liberal democracy is just totalitarianism dressed in drag.

    And it’s only getting worse. Propaganda is a still-developing science.

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    Last month Ottawa Citizen reported that the Canadian military used the Covid outbreak as an excuse to test actual military psyop techniques on its own civilian population under the pretense of assuring compliance with pandemic restrictions.

    Some excerpts:

    • “Canadian military leaders saw the pandemic as a unique opportunity to test out propaganda techniques on an unsuspecting public, a newly released Canadian Forces report concludes.”

    • “The plan devised by the Canadian Joint Operations Command, also known as CJOC, relied on propaganda techniques similar to those employed during the Afghanistan war. The campaign called for ‘shaping’ and ‘exploiting’ information. CJOC claimed the information operations scheme was needed to head off civil disobedience by Canadians during the coronavirus pandemic and to bolster government messages about the pandemic.”

    • “A separate initiative, not linked to the CJOC plan, but overseen by Canadian Forces intelligence officers, culled information from public social media accounts in Ontario. Data was also compiled on peaceful Black Lives Matter gatherings and BLM leaders.”

    • “‘This is really a learning opportunity for all of us and a chance to start getting information operations into our (CAF-DND) routine,’ the rear admiral stated.”

    • “Yet another review centred on the Canadian Forces public affairs branch and its activities. Last year, the branch launched a controversial plan that would have allowed military public affairs officers to use propaganda to change attitudes and behaviours of Canadians as well as to collect and analyze information from public social media accounts.”

    • “The plan would have seen staff move from traditional government methods of communicating with the public to a more aggressive strategy of using information warfare and influence tactics on Canadians.”

    So they’re not just employing mass-scale psychological operations on the public, they’re testing them and learning from them.

    And we can probably assume that anything which may have been learned was also shared with the government agencies of other NATO members.

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    In a new article titled “Behind NATO’s ‘cognitive warfare’: Western militaries are waging a ‘battle for your brain’”, The Grayzone’s Ben Norton reports on how recent NATO-sponsored discussions have explicitly advocated the need to advance the science of cognitive warfare for offensive as well as defensive purposes.

    Some excerpts:

    • “NATO is spinning out an entirely new kind of combat it has branded as cognitive warfare. Described as the ‘weaponization of brain sciences,’ the new method involves ‘hacking the individual’ by exploiting ‘the vulnerabilities of the human brain’ in order to implement more sophisticated ‘social engineering.’

    • “While the NATO-backed study insisted that much of its research on cognitive warfare is designed for defensive purposes, it also conceded that the military alliance is developing offensive tactics, stating, ‘The human is very often the main vulnerability and it should be acknowledged in order to protect NATO’s human capital but also to be able to benefit from our adversaries’s vulnerabilities.’”

    • “In a chilling disclosure, the report stated explicitly that ‘the objective of Cognitive Warfare is to harm societies and not only the military.’”

    • “The study described this phenomenon as ‘the militarization of brain science.’ But it appears clear that NATO’s development of cognitive warfare will lead to a militarization of all aspects of human society and psychology, from the most intimate of social relationships to the mind itself.”

    • “In other words, this document shows that figures in the NATO military cartel increasingly see their own domestic population as a threat, fearing civilians to be potential Chinese or Russian sleeper cells, dastardly ‘fifth columns’ that challenge the stability of ‘Western liberal democracies.’”

    • “Naturally, the NATO researcher claimed foreign ‘adversaries’ are the supposed aggressors employing cognitive warfare. But at the same time, he made it clear that the Western military alliance is developing its own tactics.”

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    In a 2017 essay titled “The War on Sensemaking”, writer Jordan Greenhall made an observation that I have thought about ever since: that the science of modern propaganda has been in research and development for more than a century now, and has necessarily advanced scientifically just as much as other fields in the military have.

    “In 1917, a young Edward Bernays was asked to help the American war effort by applying his uncle Sigmund Freud’s theories of the unconscious to a new German technique called ‘propaganda’,” Greenhall writes.

    “The technology of war moves quickly. In the span of one and a half centuries, the last war leapt from long rifles to repeating rifles to gatling guns all the way to Little Boy. The warfighters of the current war haven’t dawdled. The wars of culture, meaning and purpose have seen innovation on an ‘exponential technology curve.’ The artisanal efforts of Bernays and Goebbels have been left far in the past by modern methods.”

    Think about how many technological advancements there have been in the military over the last century. Our rulers have been refining their methods of manipulating our sensemaking abilities to their advantage throughout that entire time, and only a small minority of us have even begun to realize that that manipulation is even happening. We’re just learning to play checkers while they’re mastering 3-D chess.

    I don’t have any solutions to this problem other than to spread consciousness of the fact that it is happening. Propaganda only works if you don’t understand (A) that it is happening to you and (B) how it is occurring, and a basic awareness of the fact that there’s a globe-spanning campaign to manipulate human thought to the advantage of the powerful is the first step toward having that understanding. Having the humility to understand that you yourself can be manipulated and deceived is the second step.

    My hope is that humanity will transcend its psychological susceptibility to manipulation and move into a healthy relationship with mental narrative as our adapt-or-die precipice draws nearer. But time will only tell.

    *  *  *

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    Tyler Durden
    Fri, 10/15/2021 – 23:10

  • China Coal Prices Soar To Record As Winter Freeze Spreads Cross The Country
    China Coal Prices Soar To Record As Winter Freeze Spreads Cross The Country

    One week ago we discussed why the “worst case” scenario for China’s property crisis is gradually emerging; to this we can now add that China’s worst case energy crisis scenario is also about to be unleashed as cold weather swept into much of the country and power plants scrambled to stock up on coal, sending prices of the fuel to record highs.

    Electricity demand to heat homes and offices is expected to soar this week as strong cold winds move down from northern China, according to Reuters with forecasters predicting average temperatures in some central and eastern regions could fall by as much as 16 degrees Celsius in the next 2-3 days.

    Shortages of coal, high fuel prices and booming post-pandemic industrial demand have sparked widespread power shortages in the world’s second-largest economy. Rationing has already been in place in at least 17 of mainland China’s more than 30 regions since September, forcing some factories to suspend production and further disrupting already broken supply chains.

    On Friday, the most-active January Zhengzhou thermal coal futures closed at a record high of 2,226 per tonne early. The contract has risen almost 200% year to date.

    China’s three northeastern provinces of Jilin, Heilongjiang and Liaoning – also among the worst hit by the power shortages last month – as well as several regions in northern China including Inner Mongolia and Gansu have started winter heating, which is mainly fuelled by coal, to cope with the colder-than-normal weather.

    Meanwhile, even though Beijing has taken a slew of measures to contain coal price rises including raising domestic coal output and cutting power to power-hungry industries and some factories during periods of peak demand, so far all measures have failed with coal surging by 40% in just the past three days. Beijing has also repeatedly assured users that energy supplies will be secured for the winter heating season, and went so far as to order energy firms to “secure supplies at all costs.” Well, the energy firms heard it, because on that day, thermal coal closed at 1,436 yuan. Two weeks later it is some 800 yuan higher.

    Unfortunately for Beijing, the power shortages are expected to continue into early next year, with analysts and traders forecasting a 12% drop in industrial power consumption in the fourth quarter as coal supplies fall short and local governments give priority to residential users.

    Earlier this week, we reported that China undertook its boldest step in a decades-long power sector reform when it allowed coal-fired power prices to fluctuate by up to 20% from base levels from Oct. 15, enabling power plants to pass on more of the high costs of generation to commercial and industrial end-users. read more

    Steel, aluminium, cement and chemical producers are expected to face higher and more volatile power costs under the new policy, pressuring profit margins.

    Meanwhile, the latest Chinese “data” on Thursday showed factory-gate inflation in September hit a record high; but since thermal coal is the one commodity that correlates the closest to PPI, absent a sharp drop in coal prices in the next few weeks, expect the next PPI print to be far higher. Meanwhile as the power crisis leads to further shutdowns in domestic production, some banks – such as Nomura – have gone so far to predict that China’s GDP is set to shrink in coming quarters.

    China, which laughably aims to be “carbon neutral” by 2060 even as its president announced he will skip the COP26 UN Climate Change Conference in Glasgow, has been “trying” to reduce its reliance on polluting coal power in favor of cleaner wind, solar and hydro. But coal remains the source for some 70% of China’s electricity needs.

    Of course, China is not the only nation struggling with power supplies, which has led to fuel shortages and blackouts in many European countries. and threatens to send US heating bills up as much as 50% this winter. he crisis has highlighted the difficulty in cutting the global economy’s dependency on fossil fuels as world leaders seek to revive efforts to tackle climate change at talks next month in Glasgow.

    China will strive to achieve carbon peaks by 2030, Vice Premier Han Zheng said in a video message at the Russian Energy Week International Forum, according to state-run news agency Xinhua late on Thursday. He also said that China and Russia are important forces leading the energy transition and they should cooperate and ensure smooth progress of major oil and gas pipeline and nuclear power projects.

    Translation: Russia better save that nat gas and not ship it to Europe as China will soon be needed even BCF Russia an provide. As for China

     

    Tyler Durden
    Fri, 10/15/2021 – 22:50

  • Former Director Of National Intelligence Issues Warning Over Biden Buying Chinese Drones For Feds
    Former Director Of National Intelligence Issues Warning Over Biden Buying Chinese Drones For Feds

    Authored by Steve Watson via Summit News,

    Former Director of National Intelligence John Ratcliffe warned Sunday that the Biden administration is putting national security at risk by buying Chinese drone technology for federal law enforcement use.

    In an appearance on Fox News Ratcliffe urged that Chinese companies supplying the technology are likely relaying back information on U.S. critical infrastructure to the Chinese Communist Party.

    “Like so much that Biden administration has done on national security lately, this makes very little sense,” Ratcliffe warned.

    He added, “It’s harmful to our national security. And also, Chinese drone technology is not as good as U.S. drone technology.”

    “It’s hard to make sense out of what’s doing this, other than it is consistent with the Biden administration taking a softer approach, trying to promote a false narrative that somehow China is a competitor and not an adversary,” Ratcliffe further emphasised.

    Watch:

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    Ratcliffe’s warning comes a month after Joint Chiefs Chairman Mark Milley allegedly engaged in a ‘top-secret’ mission to undermine President Trump’s ability to order military strikes, and promised to tip off the CCP if the U.S. was planning military action according to a new book by Bob Woodword and the Washington Post‘s Robert Costa.

    Biden has been long-rumored to be under the thumb of the Chinese government, and the Afghanistan debacle also made the case for that theory even stronger.

    *  *  *

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    Tyler Durden
    Fri, 10/15/2021 – 22:30

  • Aluminum Shortages Next As "Magnesium Supply Dries Up"
    Aluminum Shortages Next As “Magnesium Supply Dries Up”

    This week, the largest US producer of aluminum billet used to make automobiles and building supplies told customers and business associates that output capacity might be curtailed in 2022 due to a lack of magnesium supply.

    “In the last several weeks, magnesium availability has dried up, and we have not been able to purchase our required magnesium units for all of 2022,” Matalco Inc. President Tom Horter said in the letter obtained by S&P Global Platts. 

    Difficult-to-source supplies of raw materials and soaring energy prices are adding to the headwinds, Horter said in the letter. 

    “The purpose of this note is to provide this advanced warning that, if the scarcity continues, and especially if it becomes worse, Matalco may need to curtail production in 2022, resulting in allocations to our customers,” he said. 

    Horter said his company will source as much magnesium as possible and other raw materials, such as silicon, to maintain its planned production output for 2022. The warning comes as he told customers they should have contingency plans if supplies tighten. 

    Aluminum billet cannot be produced without magnesium, which is a strengthening agent and allows it to be strong enough to be used in structural applications, such as automobile frames, engine blocks, and body panels. 

    “We will provide an update in a couple of weeks,” Horter said. “In the meantime, you may want to consider letting your customer base know of this silicon and magnesium availability crisis and also let them know that other products or inputs needed for making billet or slab may also reach a crisis point.”

    Horter added other challenges such as the cost of energy, labor, and shipping are increasingly mounting. 

    Alcoa is another major US aluminum producer that also warned about shortages of magnesium and silicon. Without these two ingredients, both manufacturers cannot produce aluminum billet products. A reduction in US output would tighten global supply even further. 

    The macro backdrop of the aluminum industry is a complicated one. First, a military coup in Guinea last month stoked concerns over the supply of bauxite, a sedimentary rock with high aluminum content. Then the closure of energy-intensive smelters in Asia and Europe have tightened global supplies and forced LME prices to record highs. 

    The latest surge in industrial metals will continue to pressure inflation higher. 

    So much for the Federal Reserve’s “transitory” narrative. Higher costs will push up prices for new cars and other products made of aluminum.

    Tyler Durden
    Fri, 10/15/2021 – 22:10

  • Luongo: "When You Buy Into Fear, You Sell Your Reason"
    Luongo: “When You Buy Into Fear, You Sell Your Reason”

    Authored by Tom Luongo via Gold, Goats, ‘n Guns blog,

    It’s Time For All Good Men to Stop Fearing John Galt

    “Who is John Galt?”

    AYN RAND – ATLAS SHRUGGED

    There comes a point in every person’s life when they have to reckon with the person in the mirror. Who am I? What do I want? Where am I going?

    Since the beginning of the COVID-9/11 story I’ve watched it break so many people who couldn’t answer these basic questions. The fear of the virus uncovered a lot about all of us.

    For many, unfortunately, it provoked their inner tyrant.

    Last year, during the height of the COVID insanity after publicly hanging up on an unhinged Lee Stranahan live on Sputnik Radio I tweeted this out.

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    This wasn’t just directed at Lee, but it really was.

    The hard investigative journalist of February 2020 turned into a sniveling, state-worshipping baby by late April. Fear of death uncovered his Room 101. That incident, among others, eventually took down his radio show with certified stand-up guy, Garland Nixon.

    Today it’s a shadow of its former self.

    I don’t know if my action was the catalyst for the changes that came, but I do know after that day nothing was the same.

    The sad truth is that Lee wasn’t alone. His collapse was just the most public version I ran into personally.

    When you buy into fear, you sell your reason. Gone is your skepticism as your world collapses. Your eyes focus on your next step too afraid to raise them to the horizon.

    There is no bigger picture, there is only the moment.

    For 20 months now, we have lived among people terrorized by a story, not a virus but a story, that told them they are the heroes for being afraid and the skeptics are the villains.

    To save ourselves we just have to give up our humanity and submit to an authority incapable of telling us the truth.

    Because the truth is we had very little to actually fear.

    These are the real villains, the Faucis, Bidens, Schwabs, Psakis, Trudeaus and anyone who still believes their patter.

    It was never about the disease, it was about control and the real damage being done to our psyches, our bodies and our communities, exactly as I argued to Lee on the radio eighteen months ago before I hung up on him.

    They created the fear and then manipulated it into something violent. They preyed on our common decency and humanity, twisting it into something evil which is now plain for anyone who lifts his eyes off the ground to see.

    Because vaccine mandates are the ultimate form of state violence, the death penalty notwithstanding.

    Once they had a large enough segment so terrorized they would rather die than admit they had been duped, those villains pushed the ultimate Hobson’s Choice on us: get the vaccine against COVID-9/11 and you can have your life back.

    But it was never their life to take in the first place.

    We gave it to them, hoping they weren’t as evil as many suspected.

    It’s amazing how just one year after a summer of looting and burning over police brutality against a black man who overdosed on fentanyl, these same people are making excuses for even worse police violence against people walking around in sunshine unmasked.

    To them we are the Untermenschen, the unvaxxed, the unclean.

    And that makes their violence justified because, to them, we are the ones keeping things from getting back to normal.

    Once the threat from COVID-9/11 was well established, rationality should have returned. But it hasn’t. Too many people are still stuck in Room 101, wedded to their shame over being duped by villains.

    They now wish death by COVID on those who refuse to get a shot for a virus that has a defined low probability of killing them and for which multiple therapeutic options are available.

    If they would just shut up, trust the science and let doctor’s practice medicine, life would really return to something close to normal.

    But it’s increasingly obvious to enough people that these mandates don’t measure up to the threat of the virus.

    Every day it becomes clearer that this is about their fear of us seizing back the power we gave them.

    To save themselves from The COVID they wish it on us, just like Winston Smith, who looked in the mirror and betrayed his love to serve a master who hates him as much as he hates himself.

    It doesn’t matter if the vaccines are ‘safe’ and ‘effective’ or not. I’m not here to argue that. That’s your personal choice, make it as you see fit. No blame. No shame.

    What’s important is that it is no one else’s choice.

    Further, it’s not your personal choice to tell me that I can’t partake in civil society if I don’t get the shot or, like Joe Rogan, choose a different path to treating COVID-9/11 than you would.

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    Because Winston always had a choice. He could choose to face his fear and finally become a man, like Joe Rogan.

    Or he can project his fear onto real men and stay in his personal hell for all the world to laugh at:

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    Watching this man’s Two Minutes of Hate is revealing of everything that is wrong with the COVID-9/11 story.

    And that same choice is now directly in our path, vaxxed or unvaxxed.

    COVID-9/11 is never going away. Neither will the flu, the common cold or any other virus endemic to the environment.

    Life is risk and it belongs to those willing to face those risks to keep the world from breaking. Cower in fear if you like, but scapegoating the unvaxxed won’t save you.

    I saw this in March 2020 saying we have to be brave and celebrate everyone willing to go to work to make the things we need to treat the sick and protect the healthy.

    In a real economy, everyone is an essential worker.

    This is because everyone contributes in their small way to the fully functional world that ensures the shelves are stocked, the energy flows and our meager triumphs over nature’s hostility to our presence remain in place.

    For months now we have been openly threatened with having our lives taken away because we don’t have our party registration papers up to date. We’ve all wrestled, at some level, with our disbelief that things would degrade this badly and this quickly.

    The Olbermensch tells us we can be friends again after we just get the damn shot.

    What he won’t admit is that we know he’s lying. Keith hates us for the mirror we hold up in front of him. Take a long look, that is the face of shame.

    Because ideals are judges. Those ideals only shame men capable of admitting it. The rest sink into solipsism and insanity.

    In Rand’s novel, John Galt built the engine that could change the world. But he refused to give it to the world he lived in.

    The Olbermensches would just use it to perpetuate their power, their evil.

    Who is John Galt? He’s that best version of ourselves that knows who we are, what we want and where we will end up. And it’s past time we stopped fearing the loss that comes with stating that directly.

    The strike of the productive and the self-aware Rand envisioned is here. The airline pilots, an Ubermensch class of people if there is one in this sick, sad world, walked out over last weekend taking most of Southwest Airlines’ staff with them.

    The Olbermensches are furious, openly lying about what happened and castigating anyone who says otherwise.

    But we shouldn’t care.

    Just like we shouldn’t care that Sanjay Gupta, after Rogan’s shaming, was forced into a public Struggle Session to retain his place at CNN, proving to all the world that he is a man without principles, ideals or shame.

    As I write this, on October 15th, vaccine mandates go into effect all around the Davos-controlled world. The choice is now in front of hundreds of millions of people. Becoming your own version of John Galt comes with loss.

    It means giving up something today to retain not just your integrity but provide strength to those not quite there yet.

    Everything rests on giving them your consent. The Olbermensches do not negotiate, they bully.

    Bullies are cowards. Your consent today feeds their addiction to fear.

    Previously I told you to quietly, “Just Say No” to them. Now I’m telling you that takes the form of withdrawing consent completely, risking today’s comfort for tomorrow’s benefit. The strength you display today is the foundation of a world we build back better than the one that is gone.

    I had a good gig with Sputnik Radio. But I owed them nothing. But when the mask of civility fell, it was time to go.

    We all wear that mask at times but only with those worthy of reciprocating.

    All things come to an end, good and bad. What matters is who we choose to be, what we want and unafraid of where those choices lead us.

    Note: These images are from the classic DC Comic from the 1980’s The Question, Issue #5, where Vic nearly kills himself over guilt for setting in motion the final collapse of the city he’s sworn to protect, but has sunk into depravity, violence and apathy.

    *  *  *

    Join my Patreon if you question your premises.

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    Tyler Durden
    Fri, 10/15/2021 – 21:50

  • Global Auto Names On Watch After Toyota Slashes November Production Estimate By (Another) 15%
    Global Auto Names On Watch After Toyota Slashes November Production Estimate By (Another) 15%

    We wrote just hours ago that European auto stocks would likely be next on watch after disappointing data out of China.

    This morning, after a Nikkei report stating that Toyota would cut its global auto production target for November, those same stocks are on watch. Names like Stellantis, Daimler, GM, BMW and Renault will all be in focus on Friday as a result of the announcement.  

    Toyota said it was cutting auto production in November  by 15% from its latest plan. This will equate to a drop-off of about 150,000 vehicles. Toyota had already cut production targets by 40% from its initial plan for September to October, Nikkei reported. 

    The company said it was negatively affected (like everyone else in the industry) by the ongoing semiconductor shortage. Toyota also cited power outages in China as a reason for cutting its production targets. 

    Recall, days ago we reported that passenger vehicle wholesales in China fell 16.5% YOY to 1.75 million units.

    The China Association of Automobile Manufacturers predicts for a weaker full year auto market – also due to chip and power shortages, it said. It expects the chip shortage to ease up in Q4 of this year, marking yet another prediction amongst a sea of confusion between manufacturers and analysts as to when the global shortage will end. Other analysts and several automakers have commented that the chip shortage could continue into 2022.

    Despite the dip, there were a couple silver linings. The CAAM has been forecasting pickup truck sales to rise by more than 1 million units by 2030, from 414,000 in 2020. 

    New energy vehicle wholesales also continued to be robust, up 148.4% to 357,000 units.

    Toyota, meanwhile, is expected to keep its full year production target of 9 million units. 

    Tyler Durden
    Fri, 10/15/2021 – 21:30

  • "Why I'm Leaving My California Teachers' Union"
    “Why I’m Leaving My California Teachers’ Union”

    Authored by Beth Richardson via RealClearEducation.com,

    I have been a middle school special education teacher for 18 years. Every day I spend in the classroom is a joy – the work is hard, but so rewarding – and with almost two decades of experience, I know how my students learn best.

    Imagine my surprise when the California Teachers Association – which spends zero days per year with students – tries to tell teachers how to run their classrooms.

    Like many teachers across the state, I have watched nervously as schools begin to adopt curriculums that include Critical Race Theory – a concept I believe would do incredible harm to our children and our country, as it requires every lesson we teach to be presented and understood through the lens of race. While my school, thankfully, has yet to embrace this unproven theory, I fear it may only be a matter of time.

    Adopting CRT certainly seems to be the direction our state union is taking, following the lead of the National Education Association, which recently announced that it will promote the theory and actively push back against anything it sees as “anti-CRT rhetoric.”

    We’re already seeing how these kinds of ideas can creep into the classroom and harm student education. Some educators in my state are pushing to redefine math, taking the focus off of the “right answer” because pointing out a wrong answer is supposedly a form of white supremacy.

    If we can no longer teach the difference between correct and incorrect, what is the point of teaching?  I’ve been a dues-paying union member for about three years, and while I frequently disagreed with the political direction of my union, I maintained my membership because I thought it necessary to keep my benefits.

    This desperate push for critical race theory, and the forcing of teachers to adopt this curriculum, no matter our beliefs, is the final straw. I could tolerate being told whom to vote for. I could tolerate paying for legal representation that is, frankly, subpar. What I cannot tolerate is being told how to teach by people who have never stepped foot in my classroom.

    So I’m leaving my union. Or at least I’m trying to leave. Despite the Supreme Court’s decision in Janus, which states that collecting union dues from non-members is a violation of the First Amendment, my request to leave the union was met with: “Sorry, try again.”

    After submitting my request to forgo membership, I received a letter from the CTA informing me that I must continue to pay my dues.

    “While you may drop your membership through your local,” the letter says, “the agreement to pay dues continues… regardless of membership status.”

    Indeed, a teacher can only “revoke [their] dues authorization by sending written notice… not less than thirty (30) days and not more than sixty (60) days before the annual anniversary date of the agreement.”

    Let me get this straight: I have to continue paying dues to an organization I do not support for an entire year? Next time I’ll make sure my political breaking point lines up with the union’s arbitrary 30-day period.

    I’m not alone in this battle with the union – at least eight other teachers in my district are trying to leave, for various reasons. They, too, missed this arbitrary 30-day window and are stuck financially supporting a radical political platform for another year.

    As the educator entrusted to lead my classroom, I should have a say in what and how I teach. I want to make sure all my students succeed and are set up for a life of purpose and fulfillment. CRT threatens that future, replacing equal opportunity in the classroom with a curriculum that pits groups against one another. I feel that it’s my responsibility to stand up for my students. The day I’m told that I have to change my curriculum is the day I’ll retire.

    Until then, I’d rather not be compelled to give part of my paycheck to an organization that puts its political agenda above the education of America’s kids.

    *  *  *

    Beth Richardson is a middle school special education teacher in San Diego, California.

    Tyler Durden
    Fri, 10/15/2021 – 21:10

  • Japan's New Prime Minister Admits Abenomics Was A Failure
    Japan’s New Prime Minister Admits Abenomics Was A Failure

    Sometimes it takes years, if not decades to be proven right in a world that has been turned upside down.

    Take Abenomics, the “radical” Japanese vision that was supposed to overhaul Japan’s economy and society, push wages higher, boost Japanese exports, spark en economic renaissance and drag Japan out of its perpetual deflationary debt trap (but it’s not targeting a weaker yen, it was never targeting a weaker yen) yet was nothing more than sanctioned money printing, and which we bashed from the very beginning, to wit:

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    … and so much more, it was just today, almost a decade after Abenomics first arrived on the scene, that we get the official verdict, that it was – as we said all along – a failure.

    Speaking to the FT in his first interview with international media since taking over Japan’s leadership this month, Fumio Kishida, Japan’s new prime minister pledged to move the country away from neoliberalism as he lambasted his own party’s failure to deliver broad-based growth under the Abenomics programme that defined the economy for almost a decade.

    Kishida told the FT that while regulatory reform remained necessary, he would approach it with a focus on narrowing the gap between the rich and poor. The implication – Abenomics, like money printing everywhere else, was responsible for creating a staggering chasm between the rich and poor.

    “Abenomics clearly delivered results in terms of gross domestic product, corporate earnings and employment. But it failed to reach the point of creating a ‘virtuous cycle’,” Kishida said, in his bluntest attack on a program embraced by his two predecessors that propelled the Tokyo stock market through a doubling in value.

    “I want to achieve a virtuous economic cycle by raising the incomes of not just a certain segment, but a broader range of people to trigger consumption. I believe that’s the key to how the new form of capitalism is going to be different from the past,” he added, Kishida said sounding almost socialist.

    In Japan, “neoliberalism” most often refers to the reforms of the 1990s and 2000s, including deregulation, privatization and labor market reform, rather than tight fiscal policy and cuts to public spending. By openly criticising his predecessor, Shinzo Abe, who failed not once but twice as Japan’s longest-serving prime minister and who resigned in September 2020, Kishida took a calculated risk according to the FT, as he prepares for a general election on October 31.

    One reason for his assault on Abenomics is that recent polls have showed him with an average approval rating of just over 50 per cent, considerably lower than most of his predecessors when they came into office and a signal, said political analysts, that his honeymoon period for enacting meaningful reform may be short.

    The former foreign minister was chosen to replace Yoshihide Suga as leader of the ruling Liberal Democratic party on the understanding that he would offer “status quo” stability and continuity. Despite attempts to remove that image, he has already backtracked on one of his major policy initiatives to raise capital gains tax after share prices fell sharply on concerns that such a move would kill a recent revival of interest by individual domestic investors.

    Kishida stressed his new economic approach — involving tax incentives for companies to raise wages and pay increases for nurses and care workers — would attempt to reverse the failures of the “trickle-down” theories and market-led reforms that have guided Japanese policymaking from the mid-2000s.

    “Everyone just considers regulatory reform in terms of market fundamentalism, competition and survival of the fittest. That’s the problem with our past thinking on regulatory reform,” Kishida said, calling on companies and the public to share a more holistic vision of the economy.

    He also envisions deeper collaboration between the state and the private sector to secure strategic assets and technologies such as chips and rare earths that will be pivotal for economic security.

    “It is important to ensure a self-sufficient economy when we are considering future growth,” Kishida said. “We need to make sure that Japan has technologies that are critical to complete global supply chains so we can achieve indispensability.”

    Kishida publicly signaled for the first time that he may also take a new approach to the corporate governance reform that has been a pillar of the Abenomics programme alongside aggressive monetary easing and fiscal stimulus.While Japan introduced its first corporate governance code in 2015, Kishida said a separate code may be needed to address the needs of small and medium-sized companies. “It’s not realistic to apply the same rules. Corporate governance is important for small- and medium-sized enterprises but they can’t do it in the same way as big companies,” he explained.

    Predictably, corporate executives who got egregiously rich thanks to money printing Abenomics have privately expressed scepticism about the new prime minister’s economic agenda, pointing to how Japan has failed to emerge from deflation and open up rigidly regulated markets even after nearly nine years of strong public support for Abenomics. Their solution: do more of what has failed, after all it makes them richer.

    Kishida also faces a more complex geopolitical environment than his predecessors, with China’s increasing assertiveness and a global rush to secure national supply chains following the turmoil caused by the coronavirus pandemic.When asked about the new trilateral security partnership the US has launched with the UK and Australia to strengthen their ability to counter China, Kishida said Japan had no specific plans to join the framework.

    But he added: “Considering the stability of the region, it is extremely important for European and US countries to be interested and involved in Asia’s security environment.”

    Kishida heads an LDP faction with a historically dovish stance on China, but as prime minister, he has called for a strengthening of the country’s missile and other defense capabilities.

    For the upcoming election, the ruling party for the first time included a manifesto pledge to double defence spending, in a break from the long-held tradition to keep its military budget within 1 per cent of GDP.

    “On the economic front, it’s important to stabilize relations with China,” Kishida said, before noting recent “questionable behavior” from Beijing. “So on the political level, Japan must be able to firmly assert itself against China.”

    Tyler Durden
    Fri, 10/15/2021 – 20:50

  • China Releases Humiliating Footage Of Blindfolded Indian Troops Captured On Disputed Border
    China Releases Humiliating Footage Of Blindfolded Indian Troops Captured On Disputed Border

    Earlier this year China state media began belatedly releasing on-the-ground video footage of the Ladakh Galwan Valley clash which occurred in June 15-16, 2020 – and resulted in the deaths of 20 Indian soldiers. While Indian media sources claimed dozens of soldiers were also killed on the Chinese side, it resulted in a heightened military standoff which continues to this day, as peace talks have lately faltered. 

    Since the 2020 deadly skirmish, the Chinese side has kept quieter on the details, but this week released high quality video of the moment PLA soldiers captured Indian border troops and led them captive with blindfolds. 

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    Days ago a 13th round of military commander-level talks failed to produce any breakthroughs – instead troop encampments and military build-up involving tens of thousands along the disputed Line of Actual Control has continued.

    Some recent reports have suggested that the PLA military releasing such humiliating images of defeated looking Indian captives being led away by Chinese border patrols are meant as public retaliation for recent alleged Indian aggressions on the border.  

    This isn’t the first time China has released snippets of 2020 clash footage at Ladakh, but it’s perhaps the most provocative release to date.

    The recently failed talks mean that India and China will continue to have troops forwardly deployed in Ladakh, where the skirmishes took place. China has blamed the failure on what it called “unreasonable demands” from India.

    In the region there are tens of thousands deployed by either side. Since the deadly June 2020 skirmish, the US has stepped up military cooperation with India, including a new military pact that shares more satellite data with New Delhi. With this increased intelligence sharing, India can keep a better eye on Chinese troops.

    Tyler Durden
    Fri, 10/15/2021 – 20:30

  • Alabama School Districts Hit With Food Shortage, Warn Of Remote School Days
    Alabama School Districts Hit With Food Shortage, Warn Of Remote School Days

    A school district just north of Montgomery, Alabama, informed parents in a Facebook post that their food vendors are experiencing “supply chain issues” that have led to no food deliveries, and some area schools might not be able to feed kids, according to The Birmingham News. 

    Alexander City Schools urged parents to feed their children before school or bring snacks due to the lack of food at schools. 

    “As you know, breakfast and lunch is served daily in our schools. In previous weeks we have not received our food deliveries due to suppliers who are short on supplies, drivers and even warehouse employees,” school officials said in a Facebook post on Saturday.

    “Breakfast may be impacted more so than lunch in the coming weeks. If possible, we ask that you feed your student breakfast prior to school or try to send a snack,” the officials continued. 

    Alexander is experiencing various challenges that stretch from farm to cafeteria table. Food and labor shortages impact everything from food production to transportation to even serving up meals at schools. 

    Alexander is not an isolated issue. School districts across the state are facing similar shortages to varying degrees. 

    Dothan City Schools, located in the state’s southeastern corner, have already notified parents of the possibility that remote school days are possible. The school system must close schools to rebuild depleted inventories of food. 

    “As a last resort, we may also ask that you prepare to have virtual/remote school days a few days out of the week to alleviate the stress of our food supplies,” the district told parents on Sept. 23.”We face a situation where we must do everything we can to continue providing a nurturing environment for our students to learn and grow.”

    Snarled supply chains have upended other school districts across the country, including ones in Wisconsin and Indiana. 

    The problem appears to worsen over the last month as some schools are preparing to close down and return to remote learning for other reasons than the pandemic. 

    Tyler Durden
    Fri, 10/15/2021 – 20:10

  • Flooding In West China Destroys Agricultural Production
    Flooding In West China Destroys Agricultural Production

    Authored by Alex Wu via The Epoch Times,

    Continuous rainfall for more than ten days has caused the lower reaches of the Luo River in China’s west to spill their banks. Large volumes of floodwater released from upstream have destroyed two dams in one county, and villages are flooded. Local jujube growers and those in animal husbandry have suffered serious losses.

    The autumn harvest is at a severe loss in Dali County of Weinan city, Shaanxi Province, where 108 villages have been affected by floods.

    According to local media reports, Dali County has experienced heavy rains this fall. Water levels in the Wei River and Luo River running across the province have exceeded their warning levels, with some areas experiencing serious floods.

    In Dali’s Zhaodu town, about 29,000 acres of farmland were flooded, and 25,126 people had to be urgently evacuated.

    As to the reason for the flooding, some locals have voiced suspicion that it’s caused by the local authorities intentional release of floodwaters to protect other areas.

    Xin Ming (alias), a villager in Xinsi village, Zhaodu town, told the Chinese-language Epoch Times that he believes that in order to protect Gansu Province and Henan Province, the authorities quickly released a large volume of water into the Dali area, bursting local river banks.

    “The village was completely submerged, about two meters (6.6 feet) deep, and the houses and furniture were all immersed in the water,” he said.

    Posts on social media by other local villagers in the disaster-stricken areas, across Zhaodu and Dali County, also said, “In order to protect Gansu Province in the upper stream, and Henan Province in the lower stream, [authorities in] Shaanxi Province opened their own gates for two flood releases. The flood passed through Dali, and the dam broke.”

    The Epoch Times could not verify this information. After contacting the Flood Control Command of Dali County, and a staff member said that they did not release floodwaters at this time.

    At 6 a.m. on Oct. 9, villagers suddenly received a notice from township officials ordering them to evacuate immediately.

    Xue Fei (alias), an animal husbandry farmer in Zhaodu, told The Epoch Times, “The water is rising rapidly, and the time for people to evacuate was very short, in a rush. Cows and pigs were killed by the flood, and the farmers have suffered particularly great losses.”

    Dali County is known for its jujube plantations. It has been recognized by the central authorities for its high-quality agricultural products, like the famous “Dali Jujube.” Most local villagers grow jujube to support their livelihoods. It’s harvest season now, but the floods have ruined this year’s crop.

    “Dali County’s winter jujube is the most delicious in the country and has the most output,” Xin said.

    “The winter jujube in the field is almost completely submerged, and the greenhouses are also completely submerged.”

    Xin’s 5-acre plantation of jujube trees was all destroyed after being soaked in floodwater.

    The Epoch Times has obtained a video showing the flooding in Dali County.

    After the flooding disaster, non-government relief materials were sent to the area in batches. But after the local government took over control of the distribution of aid, no aid has been reaching villagers outside the big towns.

    The weather has been getting cold, Xin said. “We are short of quilts, cotton-padded clothes, and daily necessities, and the villagers do not even have enough shirts and pants.”

    Tyler Durden
    Fri, 10/15/2021 – 19:50

  • "It Was Just A Big Poker Game": Michael Dell Talks Dealing With Carl Icahn, Semi Shortage, In New Interview
    “It Was Just A Big Poker Game”: Michael Dell Talks Dealing With Carl Icahn, Semi Shortage, In New Interview

    Among what are likely pages of overused boring business anecdotes, Michael Dell’s new book, “Play Nice But Win: A CEO’s Journey From Founder to Leader”, also includes an interesting look at doing business with Carl Icahn. 

    Dell recently sat down with Bloomberg for an interview and revealed some of the book’s details, as well as his take on current events in the semiconductor industry, which has been experiencing a year long shortage.. 

    Speaking about when Carl Icahn took a stake in Dell and tried to prevent the company from going public, Dell said: “I didn’t really have much experience dealing with someone who would just go on television and lie.”

    He claimed that after confronting Icahn, he found out that the “activist” didn’t even have a plan for the company.

    Dell said: “I did go to his house and confront him, and I saw he didn’t have any plan whatsoever for the company. To him it was just a big poker game.”

    In other news, Dell believes that the semiconductor shortage could wind up persisting. 

    “It takes about three years to build a new semiconductor plant. We’re only 18 months into this,” he told Bloomberg. “We’ve heard from our customers that our supply chain is functioning well. They may not like the lead time, but it’s predictable and reliable.”

    Dell pointed out that he thought government should do more to provide infrastructure for semiconductors in the United States. 

    “When you have China investing so aggressively in these strategic areas and the U.S. and Europe not, it creates a real challenge,” he said.

    Tyler Durden
    Fri, 10/15/2021 – 19:30

  • Here's The Truth Behind Biden's 24/7 Port Operations Pledge
    Here’s The Truth Behind Biden’s 24/7 Port Operations Pledge

    Written by Lori Ann LaRocco, author of: “Trade War: Containers Don’t Lie, Navigating the Bluster” (Marine Money Inc., 2019) “Dynasties of the Sea: The Untold Stories of the Postwar Shipping Pioneers” (Marine Money Inc., 2018). First published on FreightWaves

    When you tear away the frills of President Biden’s supply chain announcement, it is essentially a political pawn to push the infrastructure bill. The ugly truth is the congestion will not be alleviated anytime soon and it will definitely not be any better in the next 90 days. Why? 

    It’s common sense and math. 

    You can’t blame private-sector companies for this plan’s future letdown. Trade takes people and coordination among all the players within the supply chain. The ports and all of the stakeholders within these ports must be on the same page when it comes to a 24/7 operation.

    The holes in this announcement are numerous.

    First, 3,500 additional containers moved in a week is 200 containers a day. During the month of August, the San Pedro Bay ports moved 1,241,896 TEUs. This projection of 3,500 does not move the needle at all. That’s a mere 14,000 containers — which translates into just 1% of the total TEUs. This plan is being called a “sprint.”

    Biden’s announcement of 24/7 ports is not accurate. Only one terminal out of the 12 in San Pedro is operating 24 hours a day — Total Terminals International (TTI) at the Port of Long Beach — and that every-second schedule is only Monday through Thursday, making it a 24/4 situation, not 24/7.

    A Port of Long Beach official said discussions were taking place with other terminals. But as of now, no other terminals have signed on. In the pursuit of 24/7, you need all the players to make this successful.

    The 24/7 operation at the Port of Los Angeles is not even happening. When asked if the port was going 24/7 on Thursday, the day after this announcement, the port press office answered in an email:

    “No(t) one marine terminal will go 24/7 tomorrow. This [is] a process to work the details of expanded hours leading to around-the-clock work in the private sector. It will take all private- and public-sector partners to operationalize this. There are no fast levers, but we have more cargo than ever and need to move it safely and securely. Gene [Seroka, executive director] will be meeting with industry associates tomorrow on this. No ETA as of today.”

    So the ports as of right now are status quo as it relates to expanded operations.

    The reason for this lack of 24/7 is because every facet of the supply chain must be participating in an equal fashion. Truckers are not going to work 24/7 if they can’t pick up containers at a warehouse that is closed. The flow of trade moves when everyone in that flow is working. The question is what can be done to change the behaviors of those in the supply chain to go to 24/7?

    This frustration can be read in a press release from the Harbor Trucking Association, which said the Biden administration’s plan did not address the core issues that have been plaguing the supply chain.

    The release stated,

    “While steamship lines and their marine terminal partners have been pointing the finger at the trucking industry for not utilizing appointments during this crisis, the underlying causes have continued to compound unchecked. Challenges faced by truckers doing business at the ports stem from productivity and efficiency issues that are not alleviated by merely shifting to 24/7 gate operations.”

    The HTA said thousands of empty containers currently are sitting in motor carrier yards on top of the chassis, preventing those chassis from moving an import container off the dock.

    “So those appointments go unused. … This is not an issue of unwillingness to pick up cargo, the entire supply chain wants this cargo moved. It is instead a tangled web of shifting constraints that impede and discourage participation,” the statement read.

    Also in this plan FedEx, UPS and Walmart were mentioned in stepping up in helping alleviate the supply chain. 

    When asked for specifics, FedEx global media relations responded:

    “FedEx Logistics President and CEO Dr. Udo Lange appreciated the opportunity to join other business leaders and the administration to share our expertise and discuss supply chain issues, but we have no other details to share at this time.”

    Walmart spokesperson Ashley Nolan said:

    “We’ll increase throughput by as much as 50% during the nighttime hours being added at the port.”

    At the time of publication, UPS did not respond to comment.

    In the sea of faces of those attending this press event, a critical piece of the supply chain was missing — the ocean carriers and the port terminals. 

    When Transportation Secretary Pete Buttigieg’s office was asked why there was no participation, the response was vague:

    “The administration has and will continue to have a regular dialogue with ocean carriers and terminal operators.” 

    And yet, at least one of those carriers has not been contacted — Hapag-Lloyd, one of the largest ocean shipping lines in the world.

    “We have not been approached,” confirmed a company spokesperson.

    “Ships are already operating 24/7 whenever possible. The challenge is to get containers off the terminal by truck and rail because the warehouses will not/cannot take deliveries on weekends. It is a lot about shippers’ inability to take delivery of their goods and infrastructure bottlenecks in the U.S.”

    The carriers and the terminal operators are key pieces to this puzzle. The terminals are the key segment of the supply chain that not only schedules the truck container pickups and drop-offs, they also request the  labor to unload the vessels.

    So if this is a 90-day sprint, the U.S. supply chain needs more muscle and a massive shot of adrenaline.

    Tyler Durden
    Fri, 10/15/2021 – 19:10

  • 4 In 10 TSA Employees Remain Unvaccinated As Deadline Looms
    4 In 10 TSA Employees Remain Unvaccinated As Deadline Looms

    While we wait to see what remains of the US army after hundreds of thousands of unvaccinated troops are told to pack up for not complying with Biden’s executive order (and whether that’s the moment China will decided to attack), we wonder if soon nobody will be able to fly as a few weeks from now the Transportation Security Administration may simply cease to exist.

    According to CNN, the TSA says 4-in-10 members of its workforce, including screeners, remain unvaccinated against Covid-19 just weeks ahead of a looming deadline. The deadline for civilian federal government workers to be fully vaccinated is November 22 – the Monday before Thanksgiving, which just happens to be the busiest travel time of the year.

    “We have about 60% of our workforce has been vaccinated, that that number needs to go quite a bit higher over the next few weeks,” TSA Administrator David Pekoske told CNN.

    The November 22 deadline for being fully vaccinated is still six weeks away, but the deadlines for receiving the vaccines are rapidly approaching or, in the case of the Moderna vaccine, have already passed, since an individual has to receive the full schedule of doses and wait two weeks before being considered fully vaccinated.

    In order to meet that deadline, the last possible date for receiving the first dose of the Pfizer vaccine is October 18, while the latest possible date for the first dose of Moderna was October 11. According to CNN, the Pfizer vaccine requires a three-week waiting period in between first and second doses. Moderna requires a four-week wait. The last possible date to receive the single-dose Johnson & Johnson vaccine is November 8, two weeks before the November 22 deadline.

    Pekoske said he is “very hopeful” that the agency’s employees can meet the deadline and that there will not be worker shortages, however in light of mandatory requirements that clearly will not happen.

    “We are building contingency plans, for if we do have some staffing shortages as a result of this, but I hope to avoid that,” he said.

    It wasn’t clear what, if any, these contingency plans are.

    Tyler Durden
    Fri, 10/15/2021 – 18:50

  • #EmptyShelvesJoe Trends On Twitter Amid Supply Chain Snarls 
    #EmptyShelvesJoe Trends On Twitter Amid Supply Chain Snarls 

    The hashtag #EmptyShelvesJoe was one of the hottest trends across Twitter Thursday as people en masse are waking up to the fact that international supply chains are clogged, and shortages have resulted in empty store shelves at their local retailer. 

    The hashtag, number one in the US on Thursday, comes one day after President Biden issued a port directive to operate 24/7 to alleviate snarled supply chains. But the move to have Ports of Los Angeles and Long Beach, a point of entry for 40% of all US containerized goods, work in hyperdrive to alleviate congestion is “too little, too late” to save Christmas, said one top toymaker. 

    Earlier this week, 80 container ships are at anchor and 64 at berths across the twin ports. The backlog doesn’t stop there as it takes well more than a week for entry into the port. Once the containers are unloaded, it takes another week to leave the port to warehouses.

    Those tweeting the hashtag placed most of the blame on Biden and Transportation Secretary Pete Buttigieg for their inability to normalize supply chains as congestion creates shortages of consumer goods and rapid inflation. 

    An aerial visual of the backlog at the Port of Los Angeles shows tens of thousands of containers are sitting dockside. Some have said it’s the lack of truck drivers that have resulted in delays. 

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    “Are f**king container yards are stuffed,” said one Twitter user. 

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    As the hashtag continued to go viral on Thursday afternoon, Twitter police decided to remove it from the list of trending topics. 

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    “Empty store shelves” on Google Trends is also surging. 

    Here are some tweets of people across the county complaining about empty store shelves and using the #EmptyShelvesJoe hashtag. 

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    According to the latest Rasmussen poll, “62% of Americans say they’ve already noticed shortages of basic items in stores where they live.”

    Broken supply chains, raging inflation in energy, food, and housing, and the overall cost of living getting more expensive – compound this all with shortages of consumer goods, the president’s job approval number continues to tumble. 

    One can assume with congested supply chains unlikely to abate anytime soon, Biden will be blamed on Twitter for ruining Christmas as certain consumer goods won’t make it under the tree this year.    

    Finally, just in case you wondered who was to blame for “empty shelves”, here is Joe Biden himself explaining it last year… “We don’t have a food shortage problem — we have a leadership problem.”

    https://platform.twitter.com/widgets.js

    Tyler Durden
    Fri, 10/15/2021 – 18:10

  • Bitcoin Nears $63k As ProShares Signals ETF Launch Imminent, Dorsey Plans Mining System
    Bitcoin Nears $63k As ProShares Signals ETF Launch Imminent, Dorsey Plans Mining System

    Update (1650ET): Confirming the earlier headlines that set the stage for a Bitcoin (futures) ETF to start trading next week, Bloomberg’s James Seyffart tweeted that Proshares’ 8A just hit which registers the ETF’s shares with the SEC for trading on an exchange.

    https://platform.twitter.com/widgets.js

    Additionally, ETFStore President Nate Geraci told CoinDesk that the form is “a step forward” for digital assets and bridging them with the more traditional financial sector. He confirmed that the filing of a post-effective amendment is confirmation of the SEC’s tacit approval.

    “It’s an encouraging sign for the future of crypto to see SEC Chairman Gensler get comfortable in helping mainstream investors more easily access bitcoin exposure,” he said in an email.

    “The availability of a bitcoin ETF will now bring more investors under the crypto tent and facilitate greater education across the space.”

    As UBS warned in its latest Crypto Compasss, so as not to tempt fate, one veteran investor offered the tongue-in-cheek observation that anticipated SEC approval for a futures-based ETF may mark a local top in prices, much like the Coinbase IPO, per the old adage: “buy the rumour, sell the fact.”

    The same thing occurred on the exact day that BTC futures debuted on the CME on December 17, 2017. We wouldn’t bank on it but also wouldn’t be surprised to see such a milestone marking the point where some long-term dip buyers begin to lighten up. They have been accumulating steadily for the past seven months.

    But, options markets are signaling a lot of upside still for BTC (and positive gamma)…

    However, UBS notes that stablecoin intervention is a more potent threat, with authorities actively throwing sand in the wheels of further development. 

    *  *  *

    Update (1635ET): Square (and Twitter) CEO Jack Dorsey has been a long-time advocate for cryptocurrencies and this evening he tweeted about his latest plans to create a Bitcoin mining system:

    https://platform.twitter.com/widgets.js

    As he detailed in a brief thread:

    1/ Mining needs to be more distributed. The core job of a miner is to securely settle transactions without the need for trusted 3rd parties. This is critical well after the last bitcoin is mined. The more decentralized this is, the more resilient the Bitcoin network becomes. True? 

    2/ Mining needs to be more efficient. Driving towards clean and efficient energy use is great for Bitcoin’s economics, impact, and scalability. Energy is a system-level problem that requires innovation in silicon, software, and integration. What are the largest opportunities here? 

    3/ Silicon design is too concentrated into a few companies. This means supply is likely overly constrained. Silicon development is very expensive, requires long term investment, and is best coupled tightly with software and system design. Why aren’t more companies doing this work? 

    4/ There isn’t enough focus on vertical integration. Considering hardware, software, productization, and distribution requires accountability for delivering to an end customer vs improving a single technology in the chain. Does seeing this as a single system improve accessibility? 

    5/ Mining isn’t accessible to everyone. Bitcoin mining should be as easy as plugging a rig into a power source. There isn’t enough incentive today for individuals to overcome the complexity of running a miner for themselves. What are the biggest barriers for people running miners? 

    Our team led by @JesseDorogusker will start the deep technical investigation required to take on this project. We’d love your thoughts, ideas, concerns, and collaboration. Should we do this? Why or why not? We’ll update this thread as we make our decisions. And now over to Jesse. 

    That headline was enough to push Bitcoin even higher on the day, nearing $63k at its peak…

    *  *  *

    Cryptos are all rallying this morning but Bitcoin is making headlines as it broke back above the $60,000 level for the first since April…

    Source: Bloomberg

    This has extended a recent run from around $40,000 which has been driven by increasingly optimistic signs of a Bitcoin ETF being imminent…

    Source: Bloomberg

    This has pushed Bitcoin back up to be the world’s 8th largest asset (just below that of Silver), and well above $1 trillion market cap…

    Source

    Citing “people familiar with the matter,” Bloomberg has reported that the United States Securities and Exchange Commission is poised to approve the first Bitcoin futures ETFs in the country.

    The anonymous sources said:

    “The regulator isn’t likely to block the products from starting to trade next week.”

    Bloomberg’s Eric Balchunas recently laid out his odds for which of the numerous ETF proposals will be accepted first…

    And for those in the “digital gold” camp, this analog from the ’70s is interesting. CoinTelegraph reports that Austrian investor and analyst Niko Jilch this week referenced famed investor Paul Tudor Jones while explaining the “excitement” over the Bitcoin ETF.

    Tudor Jones had previously highlighted Bitcoin’s cycles being similar to gold in the 1970s — just when it had become a futures product itself and enjoyed a 10-year bull run followed by a 50% correction.

    Gold’s 1970s rip, TechDev additionally noted, fits extremely neatly over Bitcoin’s performance since October 2020.

    Finally, not to be forgotten, Ethereum is holding above $3800…

    Tyler Durden
    Fri, 10/15/2021 – 17:58

  • Seattle School Cancels Halloween "Pumpkin Parade"; Says It "Marginalizes Students Of Color"
    Seattle School Cancels Halloween “Pumpkin Parade”; Says It “Marginalizes Students Of Color”

    Authored by GQ Pan via The Epoch Times,

    A public elementary school in the Seattle area has reportedly canceled a Halloween-themed parade after school district officials said it “marginalizes” students of color, especially those from the black community.

    Benjamin Franklin Day (B.F. Day) Elementary School, which serves the neighborhood in a northeastern suburb of Seattle, decided to discontinue the “Pumpkin Parade” holiday tradition this year on the advice of the school’s racial equity team, according to Seattle-based conservative radio host Jason Rantz.

    In an Oct. 8 newsletter to parents obtained by Rantz, the school explained the rationale behind the decision to cancel the Pumpkin Parade, which traditionally involves a procession of children in Halloween costumes.

    “Halloween events create a situation where some students must be excluded for their beliefs, financial status, or life experience,” the letter read.

    “Costume parties often become an uncomfortable event for many children, and they distract students and staff from learning.

    “Large events create changes in schedules with loud noise levels and crowds. Some students experience over stimulation, while others must deal with complex feelings of exclusion. It’s uncomfortable and upsetting for kids.”

    Instead of the Halloween festivities, students at B.F. Day Elementary may participate in fall events that are considered more inclusive, such as “thematic units of study about the fall” or review “autumnal artwork” while “sharing all the cozy feelings of the season.”

    In a statement provided to Rantz, a spokesperson for Seattle Public Schools said the district supports the decision to cancel the parade, which “historically marginalizes students of color” who don’t celebrate the holiday.

    “In alliance with SPS’s unwavering commitment to students of color, specifically African American males, the staff is committed to supplanting the Pumpkin Parade with more inclusive and educational opportunities during the school day,” the spokesperson stated.

    Some parents are upset with the cancellation of the parade.

    David Malkin, whose 7-year-old son is enrolled at B.F. Day, questioned whether the move actually helps anyone.

    “I don’t see any way in which this actually addresses any inequities to the extent that there are any inequities,” Malkin told Rantz on his show.

    “You know, this just seems like grandstanding on behalf of the principal and the staff who are predominantly white.”

    Malkin, who is Asian, also said the decision lacked input from him or other parents.

    “I’m sure they don’t want to hear from anyone of any race or ethnicity that doesn’t really want to go along with them in lockstep,” he said.

    Tyler Durden
    Fri, 10/15/2021 – 17:50

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