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Alec Baldwin"s first interview since the fatal "Rust" shooting airs December 2 — here"s how to watch on ABC and Hulu

Actor Alec Baldwin spoke with George Stephanopoulos of ABC News about the shooting that killed a filmmaker and injured another on the set of 'Rust.' Prices are accurate at the time of publication.When you buy through our links, Insider may earn an affiliate commission. Learn more.Alec Baldwin speaking to ABC in his first interview.ABC ABC News will air Alec Baldwin's first interview since his involvement in a fatal shooting on the set of "Rust." Baldwin says he didn't pull the trigger on the gun that killed Halyna Hutchins and injured another. The interview will air on December 2 at 8 p.m. ET on ABC, and will be available to stream on Hulu later. In his first interview since his alleged involvement in the shooting that killed cinematographer Halyna Hutchins and injured director Joel Souza, Alec Baldwin says he did not pull the trigger on the weapon that fired a live round on the set of "Rust."ABC News will air Baldwin's interview with George Stephanopoulos on December 2 at 8 p.m. ET. The special, titled "Alec Baldwin Unscripted," will be added to Hulu to stream after it airs, though ABC hasn't specified exactly what time it will become available for on-demand viewing.Previews for the exclusive interview include Baldwin telling Stephanopoulos that he didn't intentionally fire the weapon that killed Hutchins. However, Baldwin was holding the antique revolver that fired a live round during an October 21 dress rehearsal for "Rust." Baldwin is both a lead actor and co-producer for the film.The incident sparked concern across the film industry, with many questioning how a live round could end up in a prop weapon or on a professional film set. Hutchins' death has also prompted criticism and calls for improved safety standards for Hollywood productions.ABC is also producing a two-hour episode of "20/20" that will delve further into the "Rust '' shooting and the ongoing investigations of the incident. It will air December 10 at 9:01 p.m. ET, and will stream on Hulu starting December 11.How to watch 'Alec Baldwin Unscripted'ABC News' exclusive interview with Alec Baldwin is formally titled "Alec Baldwin Unscripted." The program is hosted by George Stephanopoulos and will air on ABC at 8 p.m. ET on December 2.If you don't have access to the ABC network, you can stream the interview on Hulu that same night, though ABC hasn't said what time it will be ready to stream. Hulu starts at $7 a month for the ad-supported plan and $13 a month for the ad-free plan. The service is available on Apple, Android, Roku, Fire TV, Xbox, PlayStation, and most smart TVs.If you have a cable subscription, you can also log in to ABC.com with your provider information to watch "Alec Baldwin Unscripted" as it airs. Live TV services like Hulu + Live TV, FuboTV, YouTube TV, and DirectTV Stream also have live access to ABC. That said, if you don't already have a subscription to one of those services, you're better off spending less money for standard Hulu and streaming the interview on-demand.Read the original article on Business Insider.....»»

Category: personnelSource: NYTDec 2nd, 2021Related News

Kayleigh McEnany says she didn"t lie in the White House briefing room because she went to Oxford, Harvard, and Georgetown and is a Christian

McEnany repeatedly lied about COVID-19, the 2020 election, and Trump's public support, despite pledging never to deceive the public. Former White House press secretary Kayleigh McEnany holds up a copy of the New York Post in the briefing room.Alex Wong/Getty Images Former press secretary Kayleigh McEnany claims she didn't lie in the White House briefing room. She writes in her upcoming book that she never lied because she went to Harvard, Oxford, and Georgetown. She also writes that she was not deceptive because she's a Christian and a mother. Former White House press secretary Kayleigh McEnany writes in her new memoir that she didn't lie to reporters and the public while serving in the Trump administration because she was trained at elite universities and is a Christian.McEnany recalls being asked by the White House press corps during her first briefing as Donald Trump's fourth press secretary in May 2020 to pledge to never lie from the podium. She promised she would not and writes in, "For Such a Time As This," that she's a truthful person by nature and training. "Of course, I would never lie," she writes. "How do you get through Oxford, Harvard, and Georgetown without sourcing? Without truthful, well-sourced, well-researched information? More importantly, as a woman of faith, a Christian, and a new mother, telling the truth was in my nature and central to my family life and faith walk." Throughout her book, McEnany is highly critical of the press, aside from conservative outlets, and repeatedly accuses outlets of having a liberal bias and reporting unfairly about the administration. She writes that her assurance that she wouldn't lie "did not stop some in the press from spinning things wildly out of context, twisting my words, assuming the worst, and engaging in ad hominem attacks—like falsely calling me a 'liar.'" During her time as press secretary, McEnany falsely claimed, among other things:Trump never downplayed the risk of the novel coronavirus.He admitted to the veteran reporter Bob Woodward on tape that he lied about the severity of the virus so the public wouldn't panic. Multiple reports have since corroborated that.Trump won the 2020 presidential election.He lost to Joe Biden by more than 7 million votes and lost the Electoral College by a margin of 232 to Biden's 306.The Mueller report concluded with "the complete and total exoneration of President Trump."The special counsel's team declined to make a judgment on whether to charge Trump with a crime because of decades-old Justice Department legal guidance. But they specified, "If we had confidence after a thorough investigation of the facts that the President clearly did not commit obstruction of justice, we would so state. Based on the facts and the applicable legal standards, however, we are unable to reach that judgment."One million people attended the "Million MAGA March" after the November 2020 election in support of Trump.As Insider previously reported, multiple news outlets estimated that attendance was more somewhere in the thousands, and Politifact added: "It's mathematically impossible for more than 135,000 people to fit in the location that McEnany tweeted a photo of."Democrats facilitated widespread voter fraud in the 2020 election.McEnany's claims were so outlandish that Fox News anchor Neil Cavuto cut away as she was speaking in the briefing room on November 9, days after news outlets called the election for Biden. "Whoa, whoa, whoa," he said. "I just think we have to be very clear: she's charging the other side as welcoming fraud and illegal voting, unless she has more details to back that up, I can't in good countenance continue to show you this."Biden "[admitted] to voter fraud."In October 2020, McEnany sent out a tweet saying, "Biden admits to voter fraud," accompanied by an edited and out-of-context video of the then-incoming president doing an interview on Pod Save America. In the full interview, Biden was answering a question about what he would say to those who had not voted in the 2020 election and didn't plan to. He said: "The Republicans are doing everything they can to make it harder for people to vote. We have put together, I think, the most extensive and inclusive voter fraud organization in the history of American politics."Read the original article on Business Insider.....»»

Category: personnelSource: NYTDec 2nd, 2021Related News

How to watch the NFL without cable — the Bills and Patriots face off for the AFC East lead on Monday Night Football

The 2021 NFL season kicked off September 9; you can watch select games live on streaming services like Sling and Fubo TV all season long. Prices are accurate at the time of publication.When you buy through our links, Insider may earn an affiliate commission. Learn more.You can watch the NFL on various live TV streaming services.Mark J. Terrill/AP Photo; Mark LoMoglio/AP Photo; Alyssa Powell/Business Insider Week 13 of the 2021 NFL season includes the Bills and Patriots on Monday Night Football. NFL games are spread across several channels, including NFL Network, ESPN, NBC, Fox, and CBS. HD antennas and streaming services offer select NFL games without the need for a cable subscription. The 2021 NFL season enters the home stretch in week 13, with a single loss separating the top six teams in the AFC and more than 10 NFC teams in the playoff hunt. The 7-4 Buffalo Bills will host the 8-4 New England Patriots in a high-profile Monday Night Football game that will have serious ramifications on the AFC East division race. Buffalo beat New England twice in 2020 after losing seven straight games to the Patriots dating back to 2016. This season New England is led by rookie quarterback Mac Jones, who has outperformed the league's other rookie signal-callers after being taken 15th overall in the draft. Bills quarterback Josh Allen is a candidate for most valuable player this year, with more than 3,000 passing yards and 25 touchdowns so far this season.Throughout the season, NFL games are spread across five primary channels: ESPN, NBC, Fox, CBS, and the NFL Network. Meanwhile, the next Super Bowl will be broadcast on NBC.To help ensure you get access to every game you want to watch, we broke down the ins and outs of streaming the NFL season without a cable subscription.NFL Week 13 scheduleWeek 13 of the NFL regular season begins with a Thursday Night Football matchup between the Cowboys and Saints on Fox, NFL Network, and Amazon Prime Video. This week's Sunday Night Football game will feature the Broncos and Chiefs on NBC and Peacock.Primetime games are shown nationally, but local broadcasts for afternoon games are determined by your area. GameDate and timeChannelDallas Cowboys at New Orleans SaintsDecember 2, 8:20 p.m. ETFox, NFL Network, Amazon PrimeNew York Giants at Miami DolphinsDecember 5, 1 p.m. ETFoxIndianapolis Colts at Houston TexansDecember 5, 1 p.m. ETCBSMinnesota Vikings at Detroit LionsDecember 5, 1 p.m. ETCBSPhiladelphia Eagles at New York JetsDecember 5, 1 p.m. ETCBSArizona Cardinals at Chicago BearsDecember 5, 1 p.m. ETFoxLos Angeles Chargers at Cincinnati BengalsDecember 5, 1 p.m. ETCBSTampa Bay Buccaneers at Atlanta FalconsDecember 5, 1 p.m. ETFoxJacksonville Jaguars at Los Angeles RamsDecember 5, 4:05 p.m. ETFoxWashington Football Team at Las Vegas RaidersDecember 5, 4:05 p.m. ETFoxBaltimore Ravens at Pittsburgh SteelersDecember 5, 4:25 p.m. ETCBSSan Francisco 49ers at Seattle SeahawksDecember 5, 4:25 p.m. ETCBSDenver Broncos at Kansas City ChiefsDecember 5, 8:20 p.m. ETNBC, PeacockNew England Patriots at Buffalo BillsDecember 6, 8:15 p.m. ETESPN, ESPN2How to watch NFL games without cableYou can access select NFL games without a cable subscription via streaming services like Hulu + Live TV, Sling TV, FuboTV, YouTube TV, Paramount Plus, Amazon Prime Video, Peacock Premium, and NFL Sunday Ticket. You can also watch local NFL games with an HDTV antenna.The 2021 NFL regular season began on September 9. During the regular season, Sunday afternoon games with an NFC home team will typically air on Fox, and Sunday afternoon games with an AFC home team will typically air on CBS.Meanwhile, Sunday Night Football airs on NBC, and Thursday Night Football is broadcast on NFL Network all season long. Select Thursday Night Football games are also shown on Fox and streamed via Amazon Prime and Twitch. Finally, Monday Night Football is on ESPN. Additionally, you can stream all your local in-market games on your mobile device for free using the Yahoo Sports app or the NFL app.Here's a full roundup of all the services you can use to stream NFL games without cable.HDTV AntennaBen Blanchet/InsiderYou can purchase an antenna, like this Channel Master model, to add to your TV for about $25, giving you access to local channels within a certain distance. For more recommendations, check out guide to the best digital antennas.What you get:Hooking up an HD antenna to your TV gives you access to local over-the-air (OTA) signals in your location. This means that you will be able to access the local affiliates of major broadcast networks, like Fox, CBS, and NBC.This lets you watch all the regional games broadcast from wherever you're located. You also get the Sunday Night Football matchup that airs on NBC. Because it's only a one-time payment, this is a great option if you're solely interested in watching the team in your area. However, you will not get access to any out-of-market games or games that air on ESPN or the NFL Network.Channel Master FLATenna 35 Duo$25.00 FROM WALMART$10.00 FROM CHANNEL MASTERSling TVAlyssa Powell/Business InsiderIf you're looking for a live TV streaming service to watch football, Sling TV is a great budget option that gives you most of the channels you need at a cheaper price than Hulu or FuboTV.There are three different plans, depending on what channels you prioritize. Sling Orange and Sling Blue each cost $35 a month, while the combined Sling Orange + Blue plan costs $50 per month. Additionally, you can purchase the Sports Extra package to add NFL RedZone to your plan for $11 per month.What you get:Sling Orange has ESPN, while Sling Blue has Fox and NBC in select markets as well as the NFL network. CBS is not currently offered by Sling. While there is a Sports Extra package, it does not include any channels that air live NFL games. Your best bet to get access to the most NFL games via Sling is to sign up for the Sling Orange + Blue plan and cash in on Sling's current promotional offer of a free antenna for local channels. The free antenna requires that you prepay for two months of the Sling service. Plus, if you want RedZone you can add the Sports Extra package to the Orange + Blue Plan for a total of $61 a month.If you don't want it all, you can just sign up for Sling Blue to gain access to Sunday afternoon games on Fox and Sunday Night Football games on NBC, or just Sling Orange to gain access to Monday Night games on ESPN, in addition to the local offerings included with the antenna. As with all streaming services, game availability is subject to blackouts.With Sling's channel listings, add-ons, and the fact that they provide a free antenna, you can gain access to all local channels, the NFL Network, ESPN, and NFL RedZone, making it one of the most cost-effective ways to watch the NFL without cable. Sling TV $10.00 FROM SLINGOriginally $35.00 | Save 71%Hulu with Live TVBusiness InsiderIn addition to all of its other offerings, Hulu + Live TV has nearly everything you need to stream NFL games for $65 per month. What you get: Like an HD antenna, Hulu + Live TV gets you access to all the local affiliates of the major broadcasts, meaning Fox, CBS, and NBC. These will show the games that are within your regional broadcast map with the exception of any blackouts. In addition, you also get ESPN, which gives you access to all Monday Night Football games, and NFL Network for Thursday Night Football.You can also add the Sports add-on package to get NFL Redzone for an extra $10 a month. Hulu + Live TV$64.98 FROM HULUFubo TVFuboTVAt $65 a month for the Starter Plan, Fubo TV is one of the most comprehensive live streaming options for NFL football. You can also spend an extra $11 a month to add the Sports Plus with NFL RedZone package.What you get:In terms of NFL games, the Starter Plan includes access to local CBS, NBC, and Fox stations (regional availability and blackout restrictions apply). Fubo TV's Starter Plan also grants you access to ESPN to watch Monday Night Football, and NFL Network to stream Thursday Night Football all season long. Fubo TV (Starter Plan)$64.98 FROM FUBOTVYouTube TVYouTubeWith a base price of $65 a month, YouTube TV is another service that offers access to most NFL games. Additionally, the service announced an agreement with the NFL to offer NFL Redzone as an add-on included in their Sports Plus package for an additional $11 a month. What you get:Like other services at this price range, YouTube TV offers access to all the local channels you need to watch NFL games, including CBS, Fox, and NBC. YouTube TV also offers ESPN and NFL Network in their base package, so you'll be able to watch all Monday Night Football and Thursday Night Football games. And with the news of the new Sports Plus package, you can also watch NFL Redzone for an additional $11 per month.Youtube TV$54.99 FROM YOUTUBEOriginally $64.98 | Save 15%NFL Sunday TicketREUTERS/Carlo AllegriNFL Sunday Ticket lets NFL fans watch every out-of-market Sunday afternoon game. That said, the service is only available in select areas.There are two separate plans available: The NFL Sunday Ticket To Go plan costs $73.49 per month for four months, which is $293.96 total. There is also the NFL Sunday Ticket Max plan for $93.99 per month for four months, adding up to $387.96 total.What you get:Both plans give you access to all out-of-market Sunday afternoon games. This means that you do not get access to Thursday, Sunday, or Monday night games. You also won't be able to stream locally televised games with only an NFL Sunday Ticket subscription. However, this is the only way for people hoping to watch full live games of their favorite teams out of market. A fun feature included in both plans is that you can watch four games at once on your screen.In addition to the normal features, NFL Sunday Ticket Max adds in NFL RedZone and the DirecTV Fantasy Zone, which is a new channel solely dedicated watching games through the lens of fantasy football. DirecTV NFL Sunday Ticket$73.48 FROM DIRECTVParamount PlusCBSIf you're just interested in watching locally televised AFC home games, then a Paramount Plus subscription could be all you need. The service lets you stream live CBS television, as well as a growing library of on-demand shows and exclusive titles. Paramount Plus is available for $5 a month with commercials or $10 a month with ad-free on-demand streaming. With that said, all live broadcasts, including NFL games, still feature commercials with the ad-free plan.What you get:Paramount Plus offers live streaming for every NFL game that airs on the regular CBS channel in your local market. However, since Paramount Plus only offers CBS content you won't be able to watch any games that air on other networks or any out of market matches. You can see a full schedule of NFL games set to air on CBS here.Paramount Plus Essential Monthly Plan (ad-supported)$4.99 FROM PARAMOUNTParamount Plus Premium Monthly Plan (ad-free)$9.99 FROM PARAMOUNTPeacock PremiumPeacockPeacock won't be streaming any exclusive games during the 2021 season, but Premium subscribers can stream all the NFL games being broadcast on NBC.What you get:For $5 a month, Peacock Premium will give you streaming access to NBC's Sunday Night Football games, as well as Super Bowl LVI, the Thanksgiving game between the Buffalo Bills and New Orleans Saints, and the 2021 kick-off game between the Dallas Cowboys and Tampa Bay Buccaneers.The NFL's flex scheduling gives NBC the option to change the Sunday Night Football game of the week, which typically guarantees that the primetime game will be one of the week's best matchups.Peacock Premium (Monthly Plan)$4.99 FROM PEACOCK TVAmazon Prime VideoAmazonThough yon won't get local channels, NFL Network, or in-depth analysis, Amazon Prime Video members can watch select Thursday Night Football games with their subscription for no additional cost. A standalone Amazon Prime Video membership costs $9 a month, and the service is included as part of an Amazon Prime subscription for $119 per year or $13 a month.What you get:Amazon Prime Video will stream 11 Thursday Night Football games starting week five of the season. These game will also be broadcast on NFL Network and Fox. Since Amazon won't be streaming any additional games, Prime Video on its own is really only suitable for casual football fans who just want to stream a few games this season. Amazon Prime Video Monthly Subscription$8.99 FROM AMAZON PRIME VIDEOAmazon Prime Monthly Subscription$12.99 FROM AMAZONYahoo Sports app and NFL appYahooIf you're only interested in watching in-market games without cable or an antenna, then you can stream live local and primetime games on a mobile device using the Yahoo Sports or NFL app. Both options are free and each app is available on iOS and Android smartphones and tablets. What you get:These apps provide live streaming for regular season local and primetime games, playoffs, and the Super Bowl. With that said, you can only watch the games on a mobile device. You'll also need to ensure that your location services are activated on your phone or tablet.Read the original article on Business Insider.....»»

Category: personnelSource: NYTDec 2nd, 2021Related News

Hedge Funds Are Liquidating At A Furious Pace.... And Retail Investors Are Buying It All

Hedge Funds Are Liquidating At A Furious Pace.... And Retail Investors Are Buying It All Over the weekend, and then again on Monday we reported that It had been a catastrophic week for hedge funds: heading into Black Red Friday, losses were staggering with Goldman Prime reporting that many hedge funds were caught off-guard by news of the Omicron variant as they had bought Reopen stocks and sold Stay-at Home names in the past week. As a result, in the week ending Nov 25, GS Equity Fundamental L/S Performance Estimate fell -1.57% between 11/19 and 11/25, driven by alpha of -1.12% which was "the worst alpha drawdown in nearly six months" and beta of -0.45% (from market exposure and market sensitivity combined). It only got worse on Friday and then again Monday, when Moderna - the 3rd most popular short in the hedge fund universe with some $4.5BN of the stock held short by the 2 and 20 crowd... ... exploded higher, resulting in massive double-digits losses for funds who were aggressively short the name... and just in general as the following P&L charts from Goldman Prime show. So having been hammered one too many times in just a few days, perhaps the "smart money" finally learned its lesson, and as the S&P 500 suffered its biggest two-day rout since October 2020, hedge funds went risk off big time, because according to the latest update from Goldman Prime, net leverage fell to a one-year low this week. A similar analysts from BofA also confirmed the deleveraging trend of deleveraging - the firm’s hedge-fund clients dumped more than $2 billion of stocks last week, exiting the market at the fastest pace since April. While it doesn't take a rocket surgeon to figure out why hedge funds were rapidly derisking, among the reasons for the mass exodus were both tax-loss harvesting ahead of the end of the year, as well as locking in profits that despite the recent turmoil remain more than 20% for 2021. But the most proximal catalyst remains the sharp change in tone from the Fed where Powell now appears hell bent to consummate the worst policy mistake since Jean-Claude Trichet's ECB hiked right into a recession: “We’ve seen inflation be more persistent. We’ve seen the factors that are causing higher inflation to be more persistent,”  Powell told lawmakers Wednesday after decommissioning the term transitory to describe higher prices a day earlier. This has led to a rush to reprice assets with the prospect of higher interest rates sooner than investors had been anticipating. Confirming our recent observations, Dennis DeBusschere, founder of 22V Research, told Bloomberg that “many have mentioned hedge fund pain leading to weird internal moves” among speculative tech stocks. “This latest negative omicron news leads to just closing the books up and moving on.” Yet while hedge funds puked stocks, aggressively deleveraging into Wednesday's rout, retail investors did just the opposite and bought what HFs had to sell like there is no tomorrow: as we noted earlier, retail stock purchases rose to a new record on Tuesday of $2.2 billion, after reaching $2.1 billion during Friday’s rout, according to Vanda Research. The firm flagged big retail buying in cyclical stocks like airlines and energy on Friday, versus Tuesday’s tech-heavy flows, and noted that institutional investors did the opposite, selling cyclicals on Friday and then tech on Tuesday. In other words, retail investors were busy bidding up everything hedge funds had to sell. Professional managers are often quicker to sell because of pressure to deliver returns, said Mark Freeman, CIO at Socorro Asset Management LP. After their concentrated bets on expensive technology shares backfired last week, hedge funds now face a fast-closing window to bolster a year of spotty performance. That aversion to risk probably underlined the latest rout in unprofitable tech shares, a group that usually sells off when long-end Treasury  yields spike. On Wednesday, however, 10-year yields slipped and a Goldman basket of extremely expensive software stocks plunged 7.1%. Yet while Vanda sees strong retail demand persisting, and limiting the downside to equities in December, Nomura advises caution when buying this dip. As Bloomberg reports, strategists Chetan Seth and Amit Phillips wrote in a note that investors need to carefully assess if “buy the dip” will prove to be a good strategy, because elevated inflation implies the bar is higher for central banks to suppress volatility by providing policy support, if omicron does become a major threat. A combination of a hawkish Fed and virus uncertainty implies that stocks are likely to be volatile until at least the FOMC's December meeting. But hey, as former Dallas Fed head Richard Fisher warned previously, retail BTFD investors are "getting ahead of itself, because the market is dependent on Fed largesse... and we made it that way...but we have to consider, through a statement rather than an action, that we must wean the market off its dependency on a Fed put." Fisher went on... "The Fed has created this dependency and there's an entire generation of money-managers who weren't around in '74, '87, the end of the '90s, anbd even 2007-2009.. and have only seen a one-way street... of course they're nervous." "The question is - do you want to feed that hunger? Keep applying that opioid of cheap and abundant money?" Blasphemy? Or perhaps just once, Jay Powell has got religion. And while we would have once upon a time said that hedge funds will have the last laugh, performance from the last decade has made it clear that when it comes to dumb money, there is nobody dumber than those getting paid millions to underperform the market year after year. Or maybe this time will be different: as the last chart shows, have dramatically outperformed hedge funds for much of 2021, the retail favorite stocks are suddenly in danger of wiping out most if not all of their YTD gains... Tyler Durden Thu, 12/02/2021 - 08:25.....»»

Category: personnelSource: NYTDec 2nd, 2021Related News

Initial Jobless Claims Bounce From 53-Year-Lows

Initial Jobless Claims Bounce From 53-Year-Lows Initial jobless claims rose from a 53-year low at 194k to 222k last week... Source: Bloomberg The total number of Americans on some form of government dole remains above 2 million... The only cohort that saw an increase in overall claims was 'Regular State'... Virginia and Texas saw the biggest drop in claims last week. North Carolina the biggest jump... So claims are hovering at their lowest in 5 decades... yeah, maybe it's time to taper. Tyler Durden Thu, 12/02/2021 - 08:38.....»»

Category: personnelSource: NYTDec 2nd, 2021Related News

"Here Comes A Revolution!" - Saxo Bank Unveils Its "Outrageous Predictions" For The Year Ahead

"Here Comes A Revolution!" - Saxo Bank Unveils Its 'Outrageous Predictions' For The Year Ahead Saxo Bank has today released its 10 Outrageous Predictions for 2022. The predictions focus on a series of unlikely but underappreciated events which, if they were to occur, could send shockwaves across financial markets: The plan to end fossil fuels gets a rain check Facebook faceplants on youth exodus The US mid-term election brings constitutional crisis US inflation reaches above 15% on wage-price spiral EU Superfund for climate, energy and defence announced, to be funded by private pensions Women’s Reddit Army takes on the corporate patriarchy India joins the Gulf Cooperation Council as a non-voting member Spotify disrupted due to NFT-based digital rights platform New hypersonic tech drives space race and new cold war Medical breakthrough extends average life expectancy 25 years As culture wars rage across the world, it’s no longer a question of if we get a socioeconomic revolution, but a question of when and how. But which revolutionary prediction do you think is most likely? Saxo CIO Steen Jakobsen summarizes the theme for 2022 Outrageous Predictions is Revolution. There is so much energy building up in our inequalityplagued society and economy. Add to that the inability of the current system to address the issue and we need to look into the future with the fundamental outlook that it’s not a question of whether we get a revolution, but more a question of when and how. With every revolution, some win and some lose, but that’s not the point—if the current system can’t change but must, a revolution is the only path forward. A culture war is raging across the globe and the divide is no longer simply between the rich and the poor. It’s also the young versus the old, the educated class versus the less educated working class, real markets with price discovery versus government intervention, stock market buy-backs versus R&D spending, inflation versus deflation, women versus men, the progressive left versus the centrist left, virtual signalling on social media versus real changes to society, the rentier class versus labour, fossil fuels versus green energy, ESG initiatives versus the need to supply the world with reliable energy—the list goes on. What’s interesting for me, having done this Outrageous Predictions list for twenty years, is that all of the above issues point to a cycle ending rather than a continuation of more of the same. Post-pandemic (well, mostly) the market is hoping that things will continue as before, but as an old mentor of mine used to say, when I answered one of his questions with “I hope”: “Listen, son, save hope for church on Sundays, and come back when you have something more concrete.” The year 2022 is likely to see far less of what markets are hoping for and far more in the way of volatility as revolutionary movements kick into gear that challenge the status quo as we grope our way towards a new paradigm. Some of these movements will get things right, some of them will make mistakes, but we need to get started. Pretty much everything needs to change if we are to achieve zero emissions, less inequality, stable energy and importantly, more productivity. 2021 was a year in which we thought we could firmly put Covid behind us, but as 2022 rolls into view, we’re simply not there yet. It was a year with unprecedented fiscal transfers, especially to lower-income households, which created excess demand in a geopolitically and supply chain–fragmented world. The physical world simply became too small to absorb the good, if misguided, intentions of politicians and central banks to keep the economy on an even keel. Now we find ourselves with an energy crisis on our hands—and that’s not an outrageous call. But how we deal with it could create both policy mistakes and fundamental changes. A cold winter, for example, could spark a counter-revolution against the current alternative energy narrative, requiring that we reconfigure our expectations around how quickly we can abandon fossil fuels (Outrageous Prediction number 1 for 2022!) and even reclassifying nuclear energy as green. Doing anything else is simply not viable if we want to avoid a collapse in the real economy. We do realise that the Revolution theme for OP 2022 can create negative associations. To many of us, the word Revolution calls forth the 1789 French Revolution with its call for “Liberty, Equality, and Fraternity”, but also the Russian Revolution and its “smash the capitalists” principles. But our intent is the broader definition of revolution: not the physical overthrowing of governments, but eurekalike moments that trigger a change of thinking, a change of behaviour and a rejection of the unsustainable status quo. Hopefully, each of the Outrageous Predictions echoes that general point, with a couple of the revolutions triggered by the “involuntary” implications of technical progress: hypersonic missiles and longevity therapy. We need more liberty from governments in some areas, like a less heavy-handed monetary policy and the moral hazard of unproductively backstopping markets it brings. And we need more regulation in others, like avoiding the dangers of a hyper-financialised economy, too-powerful monopolies and inequality. Most urgently, we need to provide a brighter outlook for the world’s young people and better cooperation among nations instead of the present trend away from globalisation and multilateral institutions. We collaborated globally on Covid vaccines in 2020 and 2021. Now we need a new Manhattan Project–- type endeavour to set the marginal cost of energy, adjusted for productivity, on the path to much lower levels while eliminating the impact of our energy generation on the environment. Such a move would unleash the most significant productivity cycle in history: we could desalinate water, make vertical farms feasible almost anywhere, enable the leap to quantum computing, and continue to explore new boundaries in biology and physics. Remember that the world is forever evolving if at varying speeds, while business and political cycles are always finite. We are betting that in 2022 the speed of evolution kicks up a few notches into a revolutionary state as a new cycle gets under way. ‘Change is good’ needs to be the new mantra, or at minimum: “trial and error”. Let’s at least try and err some more rather than trying to forever kick the can down the road! Finally, we must emphasise our annual caveat, that these Outrageous Predictions should not be seen as our official view on the market and politics. This year, more than ever, we’re trying to provoke you and ourselves to think outside the box and to engage in discussing the important topics we raise. Let the fun, and the future, begin. *  *  * The plan to end fossil fuels gets a rain check Summary: Policymakers kick climate targets down the road and support fossil fuel investment to fight inflation and the risk of social unrest while rethinking the path to a low-carbon future. Facebook faceplants on youth exodus Summary: The young abandon Facebook’s platforms in protest against their mining of personal information for profit; the attempt by Facebook parent Meta to reel them back in with the Metaverse stumbles. The US mid-term election brings constitutional crisis Summary: The US mid-term election sees a stand-off over the certification of close Senate and/or House election results, leading to a scenario where the 118th Congress is unable to sit on schedule in early 2023. US inflation reaches above 15% on wage-price spiral Summary: By the fourth quarter of 2022, US CPI inflation reaches an annualized 15% as companies bid up wages in an effort to find willing and qualified workers, triggering a wage-price spiral unlike anything seen since the 1970’s. EU Superfund for climate, energy and defence announced, to be funded by private pensions Summary: To defend against the rise of populism, deepen the commitment to slowing climate change, and defend its borders as the US security umbrella recedes, the EU launches a bold $3 trillion Superfund to be funded by pension allocations rather than new taxes. Women’s Reddit Army takes on the corporate patriarchy Summary: Mimicking the meme stock Reddit Army tactics of 2020-21, a group of women traders launch a coordinated assault on companies with weak records on gender equality, leading to huge swings in equity prices for targeted companies. India joins the Gulf Cooperation Council as a non-voting member Summary: The world’s geopolitical alliances will lurch into a phase of drastic realignment as we have an ugly cocktail of new deglobalising geopolitics and much higher energy prices. Spotify disrupted due to NFT-based digital rights platform Summary: Musicians are ready for change as the current music streaming paradigm means that labels and streaming platforms capture 75-95 percent of revenue paid for listening to streamed music. In 2022, new blockchain-based technology will help them grab back their fair share of industry revenues. New hypersonic tech drives space race and new cold war Summary: The latest hypersonic missile tests are driving a widening sense of insecurity as this tech renders legacy conventional and even nuclear military hardware obsolete. In 2022 a massive hypersonic arms race develops among major militaries as no country wants to feel left behind. Medical breakthrough extends average life expectancy 25 years Summary: Young forever, or for at least a lot longer. In 2022, a key breakthrough in biomedicine brings the prospect of extending productive adulthood and the average life expectancy by up to 25 years, prompting projected ethical, environmental and fiscal crises of epic proportions. *  *  * Read the full report below: Tyler Durden Thu, 12/02/2021 - 08:45.....»»

Category: personnelSource: NYTDec 2nd, 2021Related News

Unvaccinated Austrians Face Prison Time, Huge Fines For Non-Compliance

Unvaccinated Austrians Face Prison Time, Huge Fines For Non-Compliance.....»»

Category: personnelSource: NYTDec 2nd, 2021Related News

Omicron Could Cause Supply Chain Crunch And Inflation To Worsen, OECD Warns

Omicron Could Cause Supply Chain Crunch And Inflation To Worsen, OECD Warns Before the US follows Europe by ordering more lockdowns as a preventative measure to stop the omicron variant from taking hold (although as many have pointed out, that horse appears to have already left the barn), the president's economic advisers should consider this latest warning from - who else? - the OECD. The NGO currently responsible for sheparding the most significant change in global corporate tax policy in a century is now warning that omicron could cause inflationary pressures - already at their highest level in 30 years - and the supply chain crunch that is helping to drive them higher, to intensify. OECD's Laurence Boone As some two dozen countries tighten border restrictions and impose new lockdowns, the OECD fears the new variant could delay the world's return to "normality", and warned that monetary policy-makers must be "cautious". The organization's chief economist added that central banks should try and focus their policy on providing the most vaccines to the most people, something the central bank is constitutionally ill-equipped to do. Maybe they should ask Bill Gates. The warning was issued alongside the OECD's routine release of projections for member states' economies, the organization believes inflationary pressures are expected to peak next year, not this year. Source: FT The OECD left its growth forecasts unchanged from three months ago, but it hiked its inflation projections for the G-20 substantially. Inflation forecasts for 2022 were raised from 3.9% in its September predictions to 4.4% now. The largest per-country increases were in the US and UK, where inflation forecasts for next year rose in both countries from 3.1% to 4.4%. For better or worse, the OECD believes price pressures will be short-lived: it expects inflation in the G-20 to ease back to 3.8% in 2023. But that presumes that major central banks like the Fed will act to keep a lid on price pressures by raising interest rates more quickly than expected, if necessary. Per the FT, OECD chief economist Laurence Boone fears omicron could add to "the already high level of uncertainty and that could be a threat to the recovery, delaying a return to normality or something even worse." She added, for emphasis, that higher prices warranted higher interest rates and a slightly tighter monetary policy. Moreover, she added that there's no "one-size-fits-all" monetary policy, and that emerging market and developed nations might need to go about managing their recoveries in different ways. Finally, she stressed the need for policymakers to clearly communicate their reasons for hiking rates: They must make sure markets and their participants understand that the Fed isn't hiking rates because of supply shortages, but in an effort to push back against broadening price pressures before they become self-reinforcing. The takeaway: the OECD believes that the initial recovery from the pandemic had been faster than expected. But the massive injections of rescue capital by the US and other developed economies (and plenty of developing economies as well), along with the US's refusal to share its vaccine recipes with the developing world, have created "imbalances" throughout the global economy. So, expect the next few years to be even rockier than the last as the US and its European allies are poised to tumble into a deep recession - unless Dr. Anthony Fauci and President Biden succeed in selling omicron (or "omNicron") to the American people as a boogeyman worthy of more lockdowns (and thus more stimulus). Tyler Durden Thu, 12/02/2021 - 05:45.....»»

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A Microchip Containing Your Vaccine Passport Information Can Now Be Embedded In Your Hand

A Microchip Containing Your Vaccine Passport Information Can Now Be Embedded In Your Hand.....»»

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Large UK Supermarket Chains Refuse To Police "Divisive" Face-Mask Mandates

Large UK Supermarket Chains Refuse To Police "Divisive" Face-Mask Mandates.....»»

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Barbados & Britain"s Lost Empire

Barbados & Britain's Lost Empire After almost 400 years under a British monarch, Barbados officially removed the Queen as head of state this week, having initially gained independence from the UK in 1966. In a message to President Dame Sandra Mason of the newly born republic, the Queen wished "good wishes for your happiness, peace and prosperity in the future". This marks the latest in a long list of countries breaking away from the British empire. While a source of great pride for some Brits, the phrase "The empire on which the sun never sets" is one which has not been applicable to the United Kingdom for a long time now. However questionable the pride associated with this notion may be, it was once a fairly accurate statement to make. As Statista's infographic shows, over the years, 65 countries have claimed independence so far. The first of which was the United States back on July 4, 1776 (although the Declaration wasn't officially recognized by the British government until 1783). You will find more infographics at Statista The most recent was in 1984, when Brunei became an Islamic sultanate. More recently, an attempt at independence in Scotland failed, after a closely fought referendum in 2014 ended with 55% voting to remain a part of the UK. The independence movement is still strong, however, with the Scottish National Party still the largest political force in the country. Tyler Durden Thu, 12/02/2021 - 02:45.....»»

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Germany Falls Completely To Davos

Germany Falls Completely To Davos Authored by Tom Luongo via Gold, Goats, 'n Guns blog, If anyone was under any illusions that Germany wasn’t completely under the control of the Davos Crowd then I think this article from Politico should burn that perception into your retinas. The article details what’s in the new German government’s agreement between the parties. It lays out the goals of the coalition as well as the roadmap for its policy priorities. In short, this is literally a laundry list of everything Davos has been demanding and it ensures the complete neutering or submission of the FDP’s Christian Lindner to the Davos agenda. I’m not going to go through them all point by point, the Politico article does that well enough. What’s important here is that in light of the media release of OmicronVID-9/11 that the new German government is keen on serving its Davos masters agenda fully. Even though OmicronVID-9/11 looks to be the mildest and least interesting strain of COVID-9/11 that isn’t deterring European governments from announcing enforced vaccination programs, including from Germany’s new, fragile coalition. NEW - Designated Minister of Justice, Buschmann (FDP), wants to have the parliament vote on compulsory vaccination for the population in Germany. — Disclose.tv (@disclosetv) November 29, 2021 This tweet confirms that Lindner fully caved here. New Chancellor Olaf Scholz and a majority of state Presidents are pushing this legislation into the Bundestag as I write. Sadly, no one should really be surprised by this. While I hoped Lindner would be the thorn in Davos’ side in Germany, it doesn’t look that way at all. This cave was presaged by the ‘retirement’ of uber monetary hawk, Jens Wiedmann, as President of the Bundesbank ‘to spend time with his family.’ Yeah, pull the other one Jens, it plays “Jingle Bells.” The best Lindner can do under the circumstances is slow the roll out of this but he won’t do it now unless this compulsory vaccination program pushes through the Bundestag and is deeply unpopular with German voters. But, back to the coalition agreement. This is a document that reads like a German takeover of the entire continent. And I guess that was the bribe offered the FDP to go along with this. On the surface it cements the idea that Germany is in charge of the EU’s evolution from a collection of independent states into a full political and fiscal union which supersedes all national government considerations. But, at the same time it will further erode any sovereignty left in Germany, as well as any other EU member state. Davos is clear about what the plan here is, full evolution of the EU into a transnational bureaucratic superstate with zero direct accountability of its leadership to the people. Expecting this coalition to back down, for example, on “Rule-of-Law” issues with Poland and Hungary is a fantasy.  If anything, now Berlin is giving Brussels a blank check to go after these two countries harder than ever. And the clincher to that argument is in these two provisions highlighted below: More broadly, the three parties set the highly ambitious goal of changing the EU’s treaties. The deal says the ongoing Conference on the Future of Europe — a discussion forum for possible EU reforms — “should lead to a constitutional convention and the further development of a federal European state.” That stance won’t go down well in some other EU capitals like Warsaw or Budapest, which would likely veto any such moves. On foreign policy and defense, the treaty demands a reform of the EU’s foreign policy division, the European External Action Service. And it pushes the EU to move away from requiring unanimity for all foreign policy moves — a barrier the bloc has struggled to overcome on basic matters like issuing statements on China’s crackdown in Hong Kong. Moreover, to sell this transformation into a depraved technocracy, the Germans will push for more direct democratic ‘elections’ across the entire bloc to decide on leadership within the European Commission. Look everyone! Democracy! This is simply a stalking horse for getting further political integration as the national governments still control who represents them on the Commission. Since, as we’ve seen time and again, Davos and the EU are in full control of the party apparatuses in each major country and the people’s loyalty so split up across five to seven parties in each of these countries, elections themselves are a complete joke since the coalitions that end up ruling look nothing like what the majority of the people actually voted for, c.f. Italy, Chechia, Austria. Davos controls the governing coalitions in every country other than Hungary and Poland. This is an illusion of more democracy and furthering ‘European values’ while cementing total control within the Brussels bureaucracy. The most insidious thing in the document to me is Germany’s call for ending unanimity within the European Council on foreign policy matters.  This is where both Hungary and Poland have been able to fight off the worst advances by Brussels for years and retain some semblance of independence. By holding EU foreign policy hostage multiple times in recent years, both countries have been able to slow down and/or force course corrections onto Brussels while retaining some semblance of their autonomy. These have been attrition moves by Prime Ministers Orban and Morawiecki hoping to outlast the EU while popular uprisings against Brussels matured. But Poland has repeatedly betrayed its Visigrad neighbors with its virulent Russophobia which the Eurocrats and the British have used time and again to their advantage. The Poles continue to play footsie trying to play the EU off Russia to get what they want, but all that ends up happening is they bind themselves tighter in the EU’s geopolitical Chinese finger trap while alienating the Russians even further. If the Germans are able to push this through, by the complete rewriting of the European Treaties as advocated by this coalition agreement, then during their time in office they will have completed the transformation of the EU into the EUSSR for all intents and purposes. This agreement is worse than any version I could have expected given the FDP’s involvement in this.  The pressure on Lindner must be immense and he likely went along with this, like many, hoping he can at least slow this down by withholding the purse strings. With AfD not rallying into the September elections, there simply wasn’t the political will to oppose what is happening at this point. That may change in 2022 as things progress from here so German polling will bear very close scrutiny. That said, I suspect this agreement will go down very well with German voters as it looks like one in which Germany’s power within the EU, which they are still overwhelmingly in favor of, expands greatly. Notice, however, how quickly Olaf Scholz, the new Chancellor, after rejecting Merkel’s call for new lockdowns over COVID-19 last week and looking surprisingly independent, changed course with the release of OmicronVID-9/11 this week. In the end, this is close to the government Davos wanted.  The FDP can still be a wildcard here depending on how the polls in Germany shift over the next six months. But it looks pretty obvious at this point there is no will to move against the Davos agenda of crashing the European economy and destroying capital formation absent a full takeover of EU institutions first. The dangerous buildup of tensions in Ukraine with Russia over the breakaway republics of the Donbass is inextricably linked to this shift in Germany’s governance. As are the wranglings over the Nordstream 2 pipeline, which the Scholz government is in favor of. As always, the EU and Davos want Russia as their energy supplier but as a vassal not as a partner. If anyone is using Nordstream 2 as a political tool over the rest of Europe it is Germany, not Russia, as they will control the distribution of gas internally after Nordstream 2 is live, not Russia. They will use that as a cudgel to get through many of these policy prescriptions. I am still convinced that Nordstream 2 will be live, delivering gas soon. It may take further negotiations to get it done but it will happen. Don’t discount Germany leaking the letter to the U.S. Congress lobbying them not to further sanction the pipeline because it will do irreparable damage to U.S./German relations. Whether morons like Ted Cruz (R-TX) finally get this or not is still unknown. With the power vacuum at the top of the U.S. political system, where the Neocon Flying Monkeys are being allowed to bring us to the brink of a NATO war with Russia over Ukraine, all bets are off as to what happens next. I still feel a real sovereign debt crisis is on the horizon and with FOMC Chair Jerome Powell putting the final nail in the coffin of the “transitory inflation” narrative, it’s clear that the U.S. political faction hostile to selling the country out to Obama and Davos are winning.   And because of this the new German coalition staking their flag in the ground saying, “if EU integration is going to happen, it’s going to happen somewhat on terms we control,” may actually be too little, too late. Lindner may not be privy to everything going on here either. If he isn’t aware of the nuances at play it may explain why he went along with this insanity. Once he, like Powell and a few others here in the U.S., get a sense of what’s really going on, what the real plan is, he may pull out of this coalition during the height of the debt crisis in2022. In fact, a collapse of this government could be the catalyst for the very debt crisis we’ve been preparing for.  But for now, I’d consider Germany Davos Occupied Territory completely and Germany as an economic powerhouse of any import a thing of the recent past. *  *  * Join My Patreon if you don’t want to fall. BTC: 3GSkAe8PhENyMWQb7orjtnJK9VX8mMf7ZfBCH: qq9pvwq26d8fjfk0f6k5mmnn09vzkmeh3sffxd6rytDCR: DsV2x4kJ4gWCPSpHmS4czbLz2fJNqms78oELTC: MWWdCHbMmn1yuyMSZX55ENJnQo8DXCFg5kDASH: XjWQKXJuxYzaNV6WMC4zhuQ43uBw8mN4VaWAVES: 3PF58yzAghxPJad5rM44ZpH5fUZJug4kBSaETH: 0x1dd2e6cddb02e3839700b33e9dd45859344c9edcDGB: SXygreEdaAWESbgW6mG15dgfH6qVUE5FSE Tyler Durden Thu, 12/02/2021 - 03:30.....»»

Category: personnelSource: NYTDec 2nd, 2021Related News

La Nina To Blast Europe With Cold Snap Amid Energy Crisis  

La Nina To Blast Europe With Cold Snap Amid Energy Crisis   Energy prices in Europe are expected to increase as new weather models forecast a plunge in temperatures to begin by the late weekend.  A weather phenomenon known as La Nina will bring below-normal temperatures for continental Europe and the Nordic region by Sunday.  The region is susceptible to cold snaps, with natural gas stockpiles well below average.  On Wednesday, gas prices at the Dutch TTF hub, the benchmark for European gas, are making another attempt at the €100 per MWh mark.  Extra gas supplies by Russia have been mute so far. The Nord Stream 2 pipeline remains in limbo after German energy regulators last week suspended the certification process.  The next round of cold air is going to test energy supplies across Europe. Gas prices are likely to move higher, pushing up power prices. Already, power prices in Finland have jumped five times higher than a year ago.  North West Europe's average temperatures for the next week are expected to slide well below the 30-year mean through the mid-point of the month.  The same with Nordic areas.  North West Europe's heating degree days, a measure of heating demand, will be significantly over the 30-year average. The same is with Nordic areas. On top of the cold, weather observer Electroverse forecasts snow will blanket the continent over the next two weeks. The development of the La Nina weather pattern has meant unseasonably cold weather for Europe, boosting energy prices but declining prices in the US as weather trends stay warmer. The chart below shows US energy prices negatively diverging the UK and EU gas prices.  Soaring energy inflation and rising food prices are the makings of a 'winter of discontent' across Europe. EU politicians beware.  Tyler Durden Thu, 12/02/2021 - 04:15.....»»

Category: personnelSource: NYTDec 2nd, 2021Related News

WHO Recommends People Aged 60 & Above Postpone Travel Due To Omicron Variant Concerns

WHO Recommends People Aged 60 & Above Postpone Travel Due To Omicron Variant Concerns Authored by Isaac Teo via The Epoch Times, The World Health Organization is recommending people 60 and older to postpone their travel plans over Omicron variant concerns. The WHO, which named Omicron as a variant of concern (VOC) on Nov. 26, says it is monitoring the spread of the variant, and advised certain travelers to delay their trips to “areas with community transmission.” “Persons who are unwell, or who have not been fully vaccinated or do not have proof of previous SARS-CoV-2 infection and are at increased risk of developing severe disease and dying, including people 60 years of age or older or those with comorbidities that present increased risk of severe COVID-19 (e.g. heart disease, cancer and diabetes) should be advised to postpone travel to areas with community transmission,” the WHO said in a press release on Nov. 30. In its latest update, the Centers for Disease Control and Prevention reported that those aged 65 to 74 account for nearly 22 percent of all deaths by COVID-19 in the United States. The percentage continues to grow as their age increases, with 26 percent for those from 75 to 84, and 28 percent for 85 and older. The WHO said as of Nov. 28, over fifty countries have implemented their version of travel measures prohibiting the entry of travelers arriving from Southern African countries, including South Africa, which first reported the Omicron variant to it on Nov. 24. The organization added that the new variant is expected to be detected around the world as countries step up in their tracking efforts. It recommended countries to test passengers prior to travel and upon arrival for COVID-19 and quarantine international travelers, among several measures. However, it advised against blanket travel bans, saying that the measures “will not prevent the international spread” of Omicron, and will “place a heavy burden on lives and livelihoods.” At the same time, the bans will adversely impact global health efforts by “disincentivizing countries to report and share epidemiological and sequencing data.” “All countries should ensure that the measures are regularly reviewed and updated when new evidence becomes available on the epidemiological and clinical characteristics of Omicron or any other VOC,” the WHO said. While countries doubled their efforts to delay the importation of the new variant, the WHO stressed that essential international travel should still be prioritized at all times during the pandemic. Essential travel includes traveling for emergency and humanitarian missions, and cargo transport for essential supplies. Meanwhile, all other travelers are reminded to “remain vigilant for signs and symptoms of COVID-19, to get vaccinated when it is their turn and to adhere to public health and social measures at all times and regardless of vaccination status,” the WHO said. Tyler Durden Wed, 12/01/2021 - 17:50.....»»

Category: personnelSource: NYTDec 1st, 2021Related News

NYC Prisons Face Crippling Staff Shortages As Thousands Defy Mayor"s Vaccination Mandate

NYC Prisons Face Crippling Staff Shortages As Thousands Defy Mayor's Vaccination Mandate Outgoing NYC Mayor Bill de Blasio has been widely criticized for seeming and acting out of touch with New Yorkers. And during his final weeks in Gracie Mansion, the intensely unpopular Democratic candidate may unwittingly handicap the already struggling NYC jail Riker's Island. To wit, the AP reports that hundreds of city department of corrections' workers might soon be fired after missing a Tuesday deadline to either get vaccinated or see their waiver approved. The city's DoC reported 77% of its staff had gotten at least one vaccine dose as of 1700ET on Monday. That's the lowest rate of any city agency, meaning about 1,900 employees have yet to comply with the mandate or apply for the waiver. The deadline for compliance was delayed a month for jail workers because of existing staffing shortages. Jail workers who have applied for religious or medical exemptions can continue to work while their cases are reviewed, officials said. They plan to release data on Wednesday detailing how many workers sought for an exemption. But they already know that the number who have obstinately refused to do either is unsustainably high. Those who don't comply are supposed to be placed on unpaid leave and asked to surrender any badges or city-issued firearms (or other equipment). What is the mayor doing about this? Well, in anticipation of the looming mandate, Mayor de Blasio on Monday issued an emergency executive order designed to beef up jail staffing by authorizing a transition to 12 hour from 8 hour shifts. Faced with a revolt over vaccine mandates, the mayor is asking remaining workers to take on more hours in a poorly paid, highly dangerous job. The workers and their union representatives are unsurprisingly pushing back: The president of the union for jail guards balked at de Blasio's decision to move to 12-hour shifts, calling it "reckless and misguided." The union said it would sue to block the mandate, the same tactic an NYC police union tried in late October as the vaccine requirement for officers neared. The police union lost and the mandate went into effect as planned. To be sure, Benny Boscio Jr., the president of the Correction Officers’ Benevolent Association, told the AP that staffing in the city’s jails is as bad or worse than it was in October, when the mayor announced jail workers would have extra time to meet the vaccine mandate. Resignations and retirements are already piling up, Boscio warned. Asking more able-bodied workers to go on unpaid leave would be like "pouring gasoline on a fire", Boscio said. "To move forward with placing what little staff we do have on leave tomorrow would be like pouring gasoline on a fire, which will have a catastrophic impact on the safety of our officers and the thousands of inmates in our custody," Boscio said Tuesday. NYC's jails, which includes the notorious Rikers Island complex, have been plagued by surging violence, self-harm and deaths since the start of the pandemic. At least 14 deaths have been recorded in NYC's jails so far this year, the highest number since 2013. But de Blasio doesn't seem to care; he's preoccupied with adopting a new plan that would ban horse-drawn carriages and replace them with electric cars. And on Monday he imposed a new vaccination mandate on child-care workers in the city. You almost couldn't make this up. Tyler Durden Wed, 12/01/2021 - 18:10.....»»

Category: personnelSource: NYTDec 1st, 2021Related News

Kremlin Says Half Of Entire Ukrainian Army Is In Donbass As Blinken Warns Putin: US "Prepared To Act"

Kremlin Says Half Of Entire Ukrainian Army Is In Donbass As Blinken Warns Putin: US "Prepared To Act".....»»

Category: personnelSource: NYTDec 1st, 2021Related News

Could The Fed Trigger The Next "Financial Crisis"

Could The Fed Trigger The Next "Financial Crisis" Authored by Lance Roberts via RealInvestmentAdvice.com, Could the Fed trigger the next “financial crisis” as they begin to hike interest rates? Such is certainly a question worth asking as we look back at the Fed’s history of previous monetary actions. Such was a topic I discussed in “Investors Push Risk Bets.” To wit: “With the entirety of the financial ecosystem more heavily levered than ever, the “instability of stability” is the most significant risk. The ‘stability/instability paradox’ assumes all players are rational and implies avoidance of destruction. In other words, all players will act rationally, and no one will push ‘the big red button.’ The Fed is highly dependent on this assumption. After more than 12-years of the most unprecedented monetary policy program in U.S. history, they are attempting to navigate the risks built up in the system.“ The problem, as shown below, is that throughout history, when the Fed begins to hike interest rates someone inevitability pushes the “big red button.” The behavioral biases of individuals remain the most serious risk facing the Fed. While they may hope that individuals will act rationally as they hike rates and tighten monetary policy, investors tend not to act that way. Importantly, each previous crisis in history was primarily a function of extreme excesses in one area of the market or economy. In the early 70’s it was the “Nifty Fifty” stocks, Then Mexican and Argentine bonds a few years after that “Portfolio Insurance” was the “thing” in the mid -80’s Dot.com anything was a great investment in 1999 Real estate has been a boom/bust cycle roughly every other decade, but 2007 was a doozy What about currently? A Bubble In “Everything” No matter what corner of the market or economy you look there are excesses. Real estate, FANG-NATM (Facebook, Apple, Netflix, Google, Nvidia, Amazon, Tesla and Microsoft) EV’s – Tesla is a $1 Trillion dollar company. Corporate debt, Credit, Private equity, SPAC’s, IPO’s, “Meme” stocks; and, Options speculation The list could go on, but you get the idea. There is a correlation between the Fed’s interventions and the surge in speculative risk-taking. As shown, household equity ownership is highly correlated to the Fed’s balance sheet. Unfortunately, in order to invest in the financial markets, individuals must have disposable income with which to invest. However, while the massive interventions by the Fed inflated the most prominent financial bubble in history, it did little to boost economic growth or prosperity. As a result, the top 10% of income earners own roughly 90% of the financial market assets. Not surprisingly, after more than a decade of ultra-accommodative monetary policies, risk appetites surged as participants came to believe the Fed eliminated all “risk.” Of course, if there is “no risk of loss,” why not take on more risk? Such is exactly what everyone did. A Bubble In Leverage In Seth Klarman’s famous book, “A Margin Of Safety,” he discussed the 1980’s bond mania before it imploded. At that time, many companies issued bonds even though they could not afford to pay the interest expenses. Today, we call such companies “zombie companies,” as they must feed on cheap debt to stay alive. Currently, the market capitalization of these zombie firms is at a record. Chart courtesy of Kailash Concepts The obvious problem is what happens when they cannot refinance their debt. Unfortunately, as Kailash Concepts explains, debt itself is a significant risk. “Currently, the world is awash in financial alchemy. There is currently a record number of companies unable to cover their interest expense from profits. Since 2007, a big part of America’s debt crisis has moved from the financial sector to non-financial stocks with too much debt. We believe the mix of record debt and record equity valuations is likely a side effect of real rates approaching lows last seen in 1973. Whether we are right or wrong on the causality, the facts are intimidating in our view. Our research has documented that the world has never been less prepared or less equipped to deal with a possible outbreak of inflation or pull-back in Federal largesse. However, it isn’t just a corporate leverage bubble. It is also a bubble in investor leverage as individuals take on debt to chase markets. Of course, the critical thing about “margin debt” is that it fuels the bullish advance. But, unfortunately, it also accelerates the market’s eventual decline as leverage reverses. Such is always a brutal and mauling event, which is why Wall Street calls it a “bear market.” The Risk Of A Policy Mistake Is Enormous In “Rising Interest Rates Matter” we discussed how if interest rates rise, the Fed tightens monetary policy, or the economic recovery falters, a financial crisis is possible. “In the short term, the economy and markets (due to current momentum) can  DEFY the laws of financial gravity as interest rates rise. However, they act as a ‘brake’ on economic activity as rates NEGATIVELY impact a highly levered economy:” Rates increases debt servicing requirements reducing future productive investment. Housing slows. People buy payments, not houses. Higher borrowing costs lead to lower profit margins. The massive derivatives and credit markets get negatively impacted. Variable rate interest payments on credit cards and home equity lines of credit increase. Rising defaults on debt service will negatively impact banks. Many corporate share buyback plans and dividend payments are done through the use of cheap debt. Corporate capital expenditures are dependent on low borrowing costs. The deficit/GDP ratio will soar as borrowing costs rise sharply. Most importantly, over the last decade, the primary rationalization for overpaying for equity ownership is that low rates justify high valuations. Unfortunately, with inflation surging, which shrinks profit margins, and the Fed set to hike rates, valuations are likely a bigger issue than most suspect. As Mohammed El-Erian stated in a recent interview: “Investors should keep an eye on the risk of an abrupt shift from a relative valuation market mindset to an absolute valuation one. If that happens, you should stop worrying about the return on your capital and start worrying about the return of your capital.”  However, for now, there is no reason to worry about the next “financial crisis.” Well, that is unless someone pushes the “big red button.” Tyler Durden Mon, 11/29/2021 - 11:43.....»»

Category: personnelSource: NYTNov 29th, 2021Related News

Top South African Doctor Confirms No Evidence Omicron Variant More Harmful Than Delta As G-7 Pushes "Urgent Action"

Top South African Doctor Confirms No Evidence Omicron Variant More Harmful Than Delta As G-7 Pushes "Urgent Action".....»»

Category: personnelSource: NYTNov 29th, 2021Related News

Watch Live: Biden Promises US Will Develop Boosters Targeting Omicron Variant

Watch Live: Biden Promises US Will Develop Boosters Targeting Omicron Variant Update (1210ET): Asked by a reporter if the latest US travel restrictions on southern African countries might be premature, President Biden completely dodged the question, choosing instead to babble on about the US's program for sharing (ie selling) jabs to other countries, including South Africa, which Biden said is actually having trouble finding willing arms for all the jabs (even though the country's vaccination rate is 20%). At times, Biden turned to Dr. Fauci, who was present with him in the White House. He also denied he was calling on local officials to reinstate mask mandates, but said instead that he "encourages everyone" to wear masks in crowded indoor rooms. * * * President Biden is delivering remarks Monday on the omcron variant and the hysteria surrounding what researchers have warned could cause it to outmuscle delta. Watch live below: Biden commented on the variant over the weekend, and on Monday he joined Dr. Fauci by urging Americans not to panic, but insisted that those who haven't been vaccinated should make sure they get the jab, while those who have already been jabbed should make sure they get their boosters. Meanwhile, all the big vaccine makers are promising to produce a new jab set to protect specifically against this new variant, while urging all people to get their vaccines/boosters/another booster in the meaning. Biden's message is the same as Dr. Fauci's from earlier: Don't wait - get your shots now! And don't forget to wear your mask! Americans who have gotten all their shots, but are still afraid, need not worry, Biden said: because the White House would guarantee that its partners at Pfizer and elsewhere will develop new shots to target this variant, which hasn't infected that many people, especially when one considers the intensity of the global reaction. Tyler Durden Mon, 11/29/2021 - 12:03.....»»

Category: personnelSource: NYTNov 29th, 2021Related News

Japan Joins Growing List Of Countries Closing Borders As More Omicron Cases Detected Globally

Japan Joins Growing List Of Countries Closing Borders As More Omicron Cases Detected Globally.....»»

Category: personnelSource: NYTNov 29th, 2021Related News