newswars--2020-06-08--Instagram Censors FBI Crime Stats Graph As ‘Hate Speech’

Facebook-owned Instagram is now censoring FBI crime statistic graphs as “ hate speech , ” according to Blaze TV ’ s Elijah Schaffer .
“ Instagram is now removing FBI crime statistic graphs , ” Schaffer said Saturday on Twitter .
“ Posted with the necessary citations [ as ] ‘ hate speech.
’ ” “ We are getting to the point where narratives are more important than truth , ” Schaffer said .
“ And the truth when inconvenient makes you a hateful person .
This is 1984.
” This is the “ hate graph ” he posted , @ @ @ @ @ @ @ from 2013 : It makes sense that Instagram would want it censored as it debunks the media ’ s entire false victimization narrative .
While Instagram has apparently deemed FBI crime stats off limits , Fox News and the Wall Street Journal are now running them on their front pages .
For example , Fox News included these lines in their headline article on Sunday titled , “ Minneapolis mayor Jacob Frey rejects city council ’ s push to defund police , despite veto-proof majority “ : Nationally , efforts to defund the @ @ @ @ @ @ @ only about 20 percent of Americans favoring reductions in police forces .
Citing publicly available data , commentators have asserted that the very idea of systemic racism by police is questionable .
“ In 2018 , the latest year for which such data have been published , African-Americans made up 53 % of known homicide offenders in the U.S. and commit about 60 % of robberies , though they are 13 % of the population , ” Heather Mac Donald wrote in The Wall Street Journal this week .
“ In 2018 there @ @ @ @ @ @ @ she went on .
“ Assuming a comparable number of victims last year , those nine unarmed black victims of police shootings represent 0.1 % of all African-Americans killed in 2019 .
By contrast , a police officer is 18½ times more likely to be killed by a black male than an unarmed black male is to be killed by a police officer.
” Mac Donald continued : “ A 2015 Justice Department analysis of the Philadelphia Police Department found that white police officers were less likely than black or Hispanic officers to @ @ @ @ @ @ @ Harvard economist Roland G. Fryer Jr. also found no evidence of racial discrimination in shootings .
Any evidence to the contrary fails to take into account crime rates and civilian behavior before and during interactions with police.
” Fryer ’ s work has also determined that when police pull out of communities , black deaths tend to increase .
“ The false narrative of systemic police bias resulted in targeted killings of officersduring the Obama presidency , ” Mac Donald concluded .
While Instagram is censoring FBI crime stats as “ hate speech @ @ @ @ @ @ @ ’ re still promoting a “ disabled trans model ” named Aaron Philip who last year explicitly called for the “ killing ” of all “ transphobes .
”

Facebook-owned Instagram is now censoring FBI crime statistic graphs as “hate speech,” according to Blaze TV’s Elijah Schaffer.
“Instagram is now removing FBI crime statistic graphs,” Schaffer said Saturday on Twitter. “Posted with the necessary citations [as] ‘hate speech.’”
“We are getting to the point where narratives are more important than truth,” Schaffer said. “And the truth when inconvenient makes you a hateful person. This is 1984.”
Instagram is now removing FBI crime statistic graphs Posted with the necessary citations As “hate speech” We are getting to the point where narratives are more important than truth And the truth when inconvenient makes you a hateful person This is 1984 pic.twitter.com/ECP2wikj5E — ELIJAH (@ElijahSchaffer) June 6, 2020
This is the “hate graph” he posted, which is based off FBI crime stats from 2013:
It makes sense that Instagram would want it censored as it debunks the media’s entire false victimization narrative.
While Instagram has apparently deemed FBI crime stats off limits, Fox News and the Wall Street Journal are now running them on their front pages.
For example, Fox News included these lines in their headline article on Sunday titled, “Minneapolis mayor Jacob Frey rejects city council’s push to defund police, despite veto-proof majority“:
Nationally, efforts to defund the police have been broadly unpopular, with only about 20 percent of Americans favoring reductions in police forces. Citing publicly available data, commentators have asserted that the very idea of systemic racism by police is questionable. “In 2018, the latest year for which such data have been published, African-Americans made up 53% of known homicide offenders in the U.S. and commit about 60% of robberies, though they are 13% of the population,” Heather Mac Donald wrote in The Wall Street Journal this week. “In 2018 there were 7,407 black homicide victims,” she went on. “Assuming a comparable number of victims last year, those nine unarmed black victims of police shootings represent 0.1% of all African-Americans killed in 2019. By contrast, a police officer is 18½ times more likely to be killed by a black male than an unarmed black male is to be killed by a police officer.” Mac Donald continued: “A 2015 Justice Department analysis of the Philadelphia Police Department found that white police officers were less likely than black or Hispanic officers to shoot unarmed black suspects. Research by Harvard economist Roland G. Fryer Jr. also found no evidence of racial discrimination in shootings. Any evidence to the contrary fails to take into account crime rates and civilian behavior before and during interactions with police.” Fryer’s work has also determined that when police pull out of communities, black deaths tend to increase. “The false narrative of systemic police bias resulted in targeted killings of officersduring the Obama presidency,” Mac Donald concluded.
While Instagram is censoring FBI crime stats as “hate speech,” on their official account they’re still promoting a “disabled trans model” named Aaron Philip who last year explicitly called for the “killing” of all “transphobes.”


newswars--2020-06-08--US Department of Justice demands UK hands over Prince Andrew for questioning over Epstein links – re

US Department of Justice demands UK hands over Prince Andrew for questioning over Epstein links – reports

Britain ’ s Prince Andrew has reportedly been summoned by the US Justice Department to answer questions about his relationship with deceased pedophile Jeffrey Epstein .
The pair were friends for over a decade .
The Southern District Court of New York has asked Prince Andrew to testify in the ongoing criminal investigation into Epstein ’ s alleged accomplices via a Mutual Legal Assistance request filed with the UK Home Office , ABC News reported on Sunday .
According to the Sun , which first broke the story , the request was formally lodged last month .
Prince Andrew could @ @ @ @ @ @ @ in a UK court if the Home Office approves the US court ’ s request .
Should he refuse to either give a signed statement or provide evidence under oath , US prosecutors could issue a summons that would compel him to answer questions in person .
The royal has categorically denied any wrongdoing in relation to his friendship with the jet-setting sex offender , who supposedly committed suicide in prison last year while awaiting trial on sex trafficking charges .
As recently as January , head prosecutor for the Epstein case Geoffrey @ @ @ @ @ @ @ ’ s failure to assist in the ongoing probe of Epstein ’ s criminal associates , noting : “ Prince Andrew has provided zero cooperation.
” The royal had pledged during a BBC Newsnight interview in November that he would help with the US investigation if his “ legal advice was to do so.
” Shortly after that TV appearance , branded disastrous and “ cringe-worthy ” by many , he was demoted within the royal family , stepping back from public life .
While Prince Andrew has denied witnessing anything illegal while @ @ @ @ @ @ @ Roberts Giuffre has claimed they had sex three times when she was 17 .
A photo of Giuffre with the Prince has been widely circulated .
Andrew claims to have met Epstein in 1999 , having been introduced by socialite and alleged Epstein madam Ghislaine Maxwell – who is still at large despite supposedly being wanted for questioning by the FBI .
The Home Office has refused to confirm or deny the existence of the request , while the royal family has not commented .
Five Epstein accusers are reportedly eager to give @ @ @ @ @ @ @ , and pre-trial subpoenas could be served regarding those cases should he enter the US .
While the criminal case against Epstein closed with his death , his victims have ongoing civil litigation against his estate .
However , because of a last-minute change he made to his will , they will have years of legal wrangling ahead of them if they hope to get any sort of payout .

Britain’s Prince Andrew has reportedly been summoned by the US Justice Department to answer questions about his relationship with deceased pedophile Jeffrey Epstein. The pair were friends for over a decade.
The Southern District Court of New York has asked Prince Andrew to testify in the ongoing criminal investigation into Epstein’s alleged accomplices via a Mutual Legal Assistance request filed with the UK Home Office, ABC News reported on Sunday. According to the Sun, which first broke the story, the request was formally lodged last month.
Prince Andrew could be forced to provide testimony under oath in a UK court if the Home Office approves the US court’s request. Should he refuse to either give a signed statement or provide evidence under oath, US prosecutors could issue a summons that would compel him to answer questions in person. The royal has categorically denied any wrongdoing in relation to his friendship with the jet-setting sex offender, who supposedly committed suicide in prison last year while awaiting trial on sex trafficking charges.
As recently as January, head prosecutor for the Epstein case Geoffrey Berman had expressed frustration with the Prince’s failure to assist in the ongoing probe of Epstein’s criminal associates, noting: “Prince Andrew has provided zero cooperation.” The royal had pledged during a BBC Newsnight interview in November that he would help with the US investigation if his “legal advice was to do so.” Shortly after that TV appearance, branded disastrous and “cringe-worthy” by many, he was demoted within the royal family, stepping back from public life.
While Prince Andrew has denied witnessing anything illegal while palling around with Epstein, accuser Virginia Roberts Giuffre has claimed they had sex three times when she was 17. A photo of Giuffre with the Prince has been widely circulated. Andrew claims to have met Epstein in 1999, having been introduced by socialite and alleged Epstein madam Ghislaine Maxwell – who is still at large despite supposedly being wanted for questioning by the FBI.
The Home Office has refused to confirm or deny the existence of the request, while the royal family has not commented.
Five Epstein accusers are reportedly eager to give evidence regarding the Prince in US courts, and pre-trial subpoenas could be served regarding those cases should he enter the US.
While the criminal case against Epstein closed with his death, his victims have ongoing civil litigation against his estate. However, because of a last-minute change he made to his will, they will have years of legal wrangling ahead of them if they hope to get any sort of payout.


newswars--2020-06-08--Bernard Kerik: Over 300 NYPD Officers Injured in Riots, 600 Consider Resigning

Former New York City Police Commissioner Bernard Kerik says more than 300 New York City Police Department ( NYPD ) officers have been injured in the weeks-long riots and nearly 600 are considering leaving their posts .
During an interview on Fox News ’ s Justice with Judge Jeanine , Kerik said hundreds of NYPD officers have been injured during riots in which rioters , arsonists , and looters ravaged neighborhoods in Manhattan and Brooklyn .
In addition , Kerik said the civil unrest may be leading to hundreds of NYPD officers leaving their jobs as Mayor Bill de Blasio @ @ @ @ @ @ @ cut funding and reduce the department ’ s power .
“ Well , you ’ ve had over 300 — I think about 320 — that have been injured , I think some in the hospital , ” Kerik said .
“ But there were over 300 injuries.
” “ And the thing that scares me … I ’ m hearing close to 600 cops have either put in their papers or they ’ re talking to the [ NYPD ] about resigning or retiring , ” Kerik continued .
Alex Jones breaks @ @ @ @ @ @ @ , from Covid-19 to the BLM riots

Former New York City Police Commissioner Bernard Kerik says more than 300 New York City Police Department (NYPD) officers have been injured in the weeks-long riots and nearly 600 are considering leaving their posts.
During an interview on Fox News’s Justice with Judge Jeanine, Kerik said hundreds of NYPD officers have been injured during riots in which rioters, arsonists, and looters ravaged neighborhoods in Manhattan and Brooklyn.
In addition, Kerik said the civil unrest may be leading to hundreds of NYPD officers leaving their jobs as Mayor Bill de Blasio (D) has now vowed to cut funding and reduce the department’s power.
“Well, you’ve had over 300 — I think about 320 — that have been injured, I think some in the hospital,” Kerik said. “But there were over 300 injuries.”
“And the thing that scares me … I’m hearing close to 600 cops have either put in their papers or they’re talking to the [NYPD] about resigning or retiring,” Kerik continued.
Read more
Alex Jones breaks down the entirety of the globalist plan, from Covid-19 to the BLM riots


newswars--2020-06-09--The Witchcraft of the Riots Explained — Watch Live

On this Monday edition of American Countdown , constitutional lawyer Robert Barnes breaks down the culture behind the race riots @ @ @ @ @ across the America , fueled by the Black Lives Matter organization ’ s corporate funding @ @ @ @ @ George Soros .
The Gateway Pundit journalist Cassandra Fairbanks joins today ’ s show to @ @ @ @ @ out in Washington DC and ANTIFA ’ s involvement in the George Floyd protests .
@ @ @ @ @ PM CST to get the latest deep-dive into these complex issues with @ Barnes_Law !
@ @ @ @ @

On this Monday edition of American Countdown, constitutional lawyer Robert Barnes breaks down the culture behind the race riots that have ravaged major cities across the America, fueled by the Black Lives Matter organization’s corporate funding and ties to globalist billionaire George Soros. The Gateway Pundit journalist Cassandra Fairbanks joins today’s show to discuss how the riots played out in Washington DC and ANTIFA’s involvement in the George Floyd protests.
Tune in Monday-Thursday from 7-9 PM CST to get the latest deep-dive into these complex issues with @Barnes_Law!
Also tune in at AmericanCountdown.News


newswars--2020-06-08--Black Congressional Candidate & Former NFL Player Burgess Owens Calls “White Privilege” A Racist Ter

Black Congressional Candidate & Former NFL Player Burgess Owens Calls “White Privilege” A Racist Term

Former NFL player and current Utah congressional candidate Burgess Owens slammed those who use the term “ white privilege ” in a Twitter post on Monday .
“ The most popular racist term today… ‘ White Privilege ’ .
Don ’ t you dare tell me my skin color holds me back .
Don ’ t you dare tell me my skin color makes me a victim , ” said Owens , a former New York Jet who is now running as a Republican in Utah ’ s 4th Congressional District .
Speaking with the Washington Examiner , Owens said @ @ @ @ @ @ @ at the notion that the color of our skin defines what we ’ re able to accomplish .
We do not all look alike , we don ’ t all talk alike , and contrary to the opinion of Joe Biden , we don ’ t all think alike.
” Burgess was referring to Biden ’ s recent gaffe where he told a black talk show host , “ If you have a problem figuring out whether you ’ re for me or Trump , then you ain ’ t black.
” Owens @ @ @ @ @ @ @ to believe he could accomplish anything he dreamed of instead of being told he could never achieve his goals due to his skin color .
“ I was born in a country where anything is possible , ” he explained .
“ That gave me hope .
That knowledge gave me the ability to chase my dreams .
Now we constantly tell young men and women they ’ re a step back at birth simply based on the color of their skin .
”

Former NFL player and current Utah congressional candidate Burgess Owens slammed those who use the term “white privilege” in a Twitter post on Monday.
“The most popular racist term today… ‘White Privilege’. Don’t you dare tell me my skin color holds me back. Don’t you dare tell me my skin color makes me a victim,” said Owens, a former New York Jet who is now running as a Republican in Utah’s 4th Congressional District.
The most popular racist term today… “White Privilege”. Don’t you dare tell me my skin color holds me back. Don’t you dare tell me my skin color makes me a victim. — Burgess Owens (@BurgessOwens) June 8, 2020 Now that you're intellectually ahead, stay physically ahead by visiting our store.
Speaking with the Washington Examiner, Owens said, “I’m pushing back at the notion that the color of our skin defines what we’re able to accomplish. We do not all look alike, we don’t all talk alike, and contrary to the opinion of Joe Biden, we don’t all think alike.”
Burgess was referring to Biden’s recent gaffe where he told a black talk show host, “If you have a problem figuring out whether you’re for me or Trump, then you ain’t black.”
Owens continued to describe how he was raised to believe he could accomplish anything he dreamed of instead of being told he could never achieve his goals due to his skin color.
“I was born in a country where anything is possible,” he explained. “That gave me hope. That knowledge gave me the ability to chase my dreams. Now we constantly tell young men and women they’re a step back at birth simply based on the color of their skin.”


newswars--2020-06-08--Study: Negative Thinking Increases Dementia Risks

Persistently engaging in negative thinking patterns may raise the risk of Alzheimer ’ s disease , finds a new UCL-led study .
In the study of people aged over 55 , published in Alzheimer ’ s & Dementia , researchers found ‘ repetitive negative thinking ’ ( RNT ) is linked to subsequent cognitive decline as well as the deposition of harmful brain proteins linked to Alzheimer ’ s .
The researchers say RNT should now be further investigated as a potential risk factor for dementia , and psychological tools , such as mindfulness or meditation , should be studied @ @ @ @ @ @ @ risk .
Lead author Dr Natalie Marchant ( UCL Psychiatry ) said : “ Depression and anxiety in mid-life and old age are already known to be risk factors for dementia .
Here , we found that certain thinking patterns implicated in depression and anxiety could be an underlying reason why people with those disorders are more likely to develop dementia .
“ Taken alongside other studies , which link depression and anxiety with dementia risk , we expect that chronic negative thinking patterns over a long period of time could increase the @ @ @ @ @ @ @ think the evidence suggests that short-term setbacks would increase one ’ s risk of dementia .
“ We hope that our findings could be used to develop strategies to lower people ’ s risk of dementia by helping them to reduce their negative thinking patterns.
” For the Alzheimer ’ s Society-supported study , the research team from UCL , INSERM and McGill University studied 292 people over the age of 55 who were part of the PREVENT-AD cohort study , and a further 68 people from the IMAP+ cohort .
Over a @ @ @ @ @ @ @ participants responded to questions about how they typically think about negative experiences , focusing on RNT patterns like rumination about the past and worry about the future .
The participants also completed measures of depression and anxiety symptoms .
Their cognitive function was assessed , measuring memory , attention , spatial cognition , and language .
Some ( 113 ) of the participants also underwent PET brain scans , measuring deposits of tau and amyloid , two proteins which cause the most common type of dementia , Alzheimer ’ s disease , when @ @ @ @ @ @ @ The researchers found that people who exhibited higher RNT patterns experienced more cognitive decline over a four-year period , and declines in memory ( which is among the earlier signs of Alzheimer ’ s disease ) , and they were more likely to have amyloid and tau deposits in their brain .
Depression and anxiety were associated with subsequent cognitive decline but not with either amyloid or tau deposition , suggesting that RNT could be the main reason why depression and anxiety contribute to Alzheimer ’ s disease risk .
“ We propose @ @ @ @ @ @ @ new risk factor for dementia as it could contribute to dementia in a unique way , ” said Dr Marchant .
The researchers suggest that RNT may contribute to Alzheimer ’ s risk via its impact on indicators of stress such as high blood pressure , as other studies have found that physiological stress can contribute to amyloid and tau deposition .
Co-author Dr Gael Chételat ( INSERM and Université de Caen-Normandie ) commented : “ Our thoughts can have a biological impact on our physical health , which might be positive or @ @ @ @ @ @ @ meditation might help promoting positive- while down-regulating negative-associated mental schemes .
“ Looking after your mental health is important , and it should be a major public health priority , as it ’ s not only important for people ’ s health and well-being in the short term , but it could also impact your eventual risk of dementia.
” The researchers hope to find out if reducing RNT , possibly through mindfulness training or targeted talk therapy , could in turn reduce the risk of dementia .
Dr Marchant and Dr Chételat @ @ @ @ @ @ @ on a large project to see if interventions such as meditation may help reduce dementia risk by supporting mental health in old age .
Fiona Carragher , Director of Research and Influencing at Alzheimer ’ s Society , said : “ Understanding the factors that can increase the risk of dementia is vital in helping us improve our knowledge of this devastating condition and , where possible , developing prevention strategies .
The link shown between repeated negative thinking patterns and both cognitive decline and harmful deposits is interesting although we need further @ @ @ @ @ @ @ of the people in the study were already identified as being at higher risk of Alzheimer ’ s disease , so we would need to see if these results are echoed within the general population and if repeated negative thinking increases the risk of Alzheimer ’ s disease itself .
“ During these unstable times , we are hearing from people every day on our Alzheimer ’ s Society Dementia Connect line who are feeling scared , confused , or struggling with their mental health .
So it ’ s important to point @ @ @ @ @ @ @ a short-term period of negative thinking will cause Alzheimer ’ s disease .
Mental health could be a vital cog in the prevention and treatment of dementia ; more research will tell us to what extent.
” Alex Jones breaks down the Q movement and what ’ s behind its esoteric message .

Persistently engaging in negative thinking patterns may raise the risk of Alzheimer’s disease, finds a new UCL-led study.
In the study of people aged over 55, published in Alzheimer’s & Dementia, researchers found ‘repetitive negative thinking’ (RNT) is linked to subsequent cognitive decline as well as the deposition of harmful brain proteins linked to Alzheimer’s.
The researchers say RNT should now be further investigated as a potential risk factor for dementia, and psychological tools, such as mindfulness or meditation, should be studied to see if these could reduce dementia risk.
Lead author Dr Natalie Marchant (UCL Psychiatry) said: “Depression and anxiety in mid-life and old age are already known to be risk factors for dementia. Here, we found that certain thinking patterns implicated in depression and anxiety could be an underlying reason why people with those disorders are more likely to develop dementia.
“Taken alongside other studies, which link depression and anxiety with dementia risk, we expect that chronic negative thinking patterns over a long period of time could increase the risk of dementia. We do not think the evidence suggests that short-term setbacks would increase one’s risk of dementia.
“We hope that our findings could be used to develop strategies to lower people’s risk of dementia by helping them to reduce their negative thinking patterns.”
For the Alzheimer’s Society-supported study, the research team from UCL, INSERM and McGill University studied 292 people over the age of 55 who were part of the PREVENT-AD cohort study, and a further 68 people from the IMAP+ cohort.
Over a period of two years, the study participants responded to questions about how they typically think about negative experiences, focusing on RNT patterns like rumination about the past and worry about the future. The participants also completed measures of depression and anxiety symptoms.
Their cognitive function was assessed, measuring memory, attention, spatial cognition, and language. Some (113) of the participants also underwent PET brain scans, measuring deposits of tau and amyloid, two proteins which cause the most common type of dementia, Alzheimer’s disease, when they build up in the brain.
The researchers found that people who exhibited higher RNT patterns experienced more cognitive decline over a four-year period, and declines in memory (which is among the earlier signs of Alzheimer’s disease), and they were more likely to have amyloid and tau deposits in their brain.
Depression and anxiety were associated with subsequent cognitive decline but not with either amyloid or tau deposition, suggesting that RNT could be the main reason why depression and anxiety contribute to Alzheimer’s disease risk.
“We propose that repetitive negative thinking may be a new risk factor for dementia as it could contribute to dementia in a unique way,” said Dr Marchant.
The researchers suggest that RNT may contribute to Alzheimer’s risk via its impact on indicators of stress such as high blood pressure, as other studies have found that physiological stress can contribute to amyloid and tau deposition.
Co-author Dr Gael Chételat (INSERM and Université de Caen-Normandie) commented: “Our thoughts can have a biological impact on our physical health, which might be positive or negative. Mental training practices such as meditation might help promoting positive- while down-regulating negative-associated mental schemes.
“Looking after your mental health is important, and it should be a major public health priority, as it’s not only important for people’s health and well-being in the short term, but it could also impact your eventual risk of dementia.”
The researchers hope to find out if reducing RNT, possibly through mindfulness training or targeted talk therapy, could in turn reduce the risk of dementia. Dr Marchant and Dr Chételat and other European researchers are currently working on a large project to see if interventions such as meditation may help reduce dementia risk by supporting mental health in old age.
Fiona Carragher, Director of Research and Influencing at Alzheimer’s Society, said: “Understanding the factors that can increase the risk of dementia is vital in helping us improve our knowledge of this devastating condition and, where possible, developing prevention strategies. The link shown between repeated negative thinking patterns and both cognitive decline and harmful deposits is interesting although we need further investigation to understand this better. Most of the people in the study were already identified as being at higher risk of Alzheimer’s disease, so we would need to see if these results are echoed within the general population and if repeated negative thinking increases the risk of Alzheimer’s disease itself.
“During these unstable times, we are hearing from people every day on our Alzheimer’s Society Dementia Connect line who are feeling scared, confused, or struggling with their mental health. So it’s important to point out that this isn’t saying a short-term period of negative thinking will cause Alzheimer’s disease. Mental health could be a vital cog in the prevention and treatment of dementia; more research will tell us to what extent.”
Alex Jones breaks down the Q movement and what’s behind its esoteric message.


newswars--2020-06-08--Looney Tunes Reboot Disarms Elmer Fudd, Yosemite Sam, But Includes Satan

Elmer Fudd and Yosemite Sam won ’ t be toting their iconic guns in HBO ’ s reboot of ‘ Looney Tunes.
’ “ We ’ re not doing guns , ” said executive producer and showrunner Peter Browngardt .
“ But we can do cartoony violence — TNT , the Acme stuff .
All that was kind of grandfathered in.
” Despite this , the revival of the iconic series , called “ Looney Tunes Cartoons ” will have its share of mature content .
“ The first batch on HBO Max features Porky vigorously sucking snake venom out @ @ @ @ @ @ @ haunted by the “ ghost ” of Tweety ; and a cameo from Satan.
” – New York Times “ Some of them have maybe gone a little too far , so they might come out in a different format , ” said Browngardt .
“ Maybe they ’ ll come out packaged for an Adult Swim type of thing.
” ( Adult Swim is owned by Warner Bros .
Entertainment . )
Browngardt stresses that the creative process for the coming 200 short features are in-sync with that of the original series @ @ @ @ @ @ @ scripts , ” said Browngardt .
“ I hired cartoonists .
So we get them together in a room and we just draw pictures and gags.
” A promotional feature for the series shows Fudd chasing Bugs Bunny with his replacement weapon , a farmer ’ s scythe : Time will tell whether this version of the beloved series will compete with Chuck Jones ’ gift for visual comedy and storytelling .

Elmer Fudd and Yosemite Sam won’t be toting their iconic guns in HBO’s reboot of ‘Looney Tunes.’
“We’re not doing guns,” said executive producer and showrunner Peter Browngardt. “But we can do cartoony violence — TNT, the Acme stuff. All that was kind of grandfathered in.”
Despite this, the revival of the iconic series, called “Looney Tunes Cartoons” will have its share of mature content.
“The first batch on HBO Max features Porky vigorously sucking snake venom out of Daffy’s leg; Sylvester haunted by the “ghost” of Tweety; and a cameo from Satan.” – New York Times
“Some of them have maybe gone a little too far, so they might come out in a different format,” said Browngardt. “Maybe they’ll come out packaged for an Adult Swim type of thing.” (Adult Swim is owned by Warner Bros. Entertainment.)
Browngardt stresses that the creative process for the coming 200 short features are in-sync with that of the original series.
“We don’t do scripts,” said Browngardt. “I hired cartoonists. So we get them together in a room and we just draw pictures and gags.”
A promotional feature for the series shows Fudd chasing Bugs Bunny with his replacement weapon, a farmer’s scythe:
Time will tell whether this version of the beloved series will compete with Chuck Jones’ gift for visual comedy and storytelling.


newswars--2020-06-08--Cycle Company Suspends Sales of Bikes to Police

Fuji Bikes is suspending sales to police departments over alleged concerns about how bicycles are used as ‘ weapons ’ by law enforcement .
BikeCo.
, Fuji Bikes ’ distributor for North America , announced plans to open a “ dialogue with police departments nationwide to address how bikes are used in police activity and to ensure that police ’ s on-bike training reinforces that bicycles are not a weapon against our community.
” “ To hear that there are instances where bicycles have been used as a weapon against those who are vulnerable , those speaking out against the @ @ @ @ @ @ @ and those standing alongside them advocating change , has deeply upset our community , our company and the heart of the Fuji brand , ” the company wrote on social media .
Videos from protests and riots across the U.S. have shown police using their bicycles as safety barriers and battering rams to combat unruly mobs , a standard tactic in crowd control scenarios for which many officers undergo specialized training .
“ At this time , we are suspending the sale of Fuji police bikes until a conversation with these departments has @ @ @ @ @ @ @ change is being made , ” the company statement continued .
“ We also must stand together against the mistreatment and abuse of the Black and Brown community .
We will continue to look within our company and our core values to do better because our Fuji family deserves better .
We stand with you and look forward to doing our part to do better.
” Interestingly , rioters have also used bikes as weapons , as they did in London , where rioters launched bicycles at police horses .
Trek Bikes , @ @ @ @ @ @ @ also threw a bone to the ‘ woke mob , ’ publishing an open letter from company president John Burke titled , “ When justice is not enough.
” Watch Tucker Carlson call out major corporations for funding nationwide Black Lives Matter protests that have turned into violent riots .

Fuji Bikes is suspending sales to police departments over alleged concerns about how bicycles are used as ‘weapons’ by law enforcement.
BikeCo., Fuji Bikes’ distributor for North America, announced plans to open a “dialogue with police departments nationwide to address how bikes are used in police activity and to ensure that police’s on-bike training reinforces that bicycles are not a weapon against our community.”
“To hear that there are instances where bicycles have been used as a weapon against those who are vulnerable, those speaking out against the unjust treatment of people of color, and those standing alongside them advocating change, has deeply upset our community, our company and the heart of the Fuji brand,” the company wrote on social media.
BikeCo, Fuji’s North American distributor, has made a full statement. Available here: https://t.co/il3unxHu1R pic.twitter.com/o7mGncap0w — Fuji Bikes (@FujiBikes) June 5, 2020
Videos from protests and riots across the U.S. have shown police using their bicycles as safety barriers and battering rams to combat unruly mobs, a standard tactic in crowd control scenarios for which many officers undergo specialized training.
LOOK AT HOW THIS NYPD OFFICER IS USING HIS BIKE TO COMBAT PROTESTERS!!! THIS IS INHUMANE. HE IS USING HIS BIKE AS A WEAPON. THIS FROM TODAY @ UNION SQUARE. pic.twitter.com/xhW2S3oEHH — BABY PAW (@CMONMYBOY) May 29, 2020
“At this time, we are suspending the sale of Fuji police bikes until a conversation with these departments has occurred and we are confident that real change is being made,” the company statement continued.
“We also must stand together against the mistreatment and abuse of the Black and Brown community. We will continue to look within our company and our core values to do better because our Fuji family deserves better. We stand with you and look forward to doing our part to do better.”
Interestingly, rioters have also used bikes as weapons, as they did in London, where rioters launched bicycles at police horses.
What kind of person do you have to be to think the way to end police violence in the USA is to throw a bike at a police horse in London?pic.twitter.com/iQLGF1aXzb — Stephen Canning (@EssexCanning) June 6, 2020
Trek Bikes, which sells bicycles to police departments, also threw a bone to the ‘woke mob,’ publishing an open letter from company president John Burke titled, “When justice is not enough.”
Watch Tucker Carlson call out major corporations for funding nationwide Black Lives Matter protests that have turned into violent riots.
Dan Lyman: Follow @CitizenAnalyst


newswars--2020-06-08--Kayleigh McEnany: ‘All Black Lives Matter’ Including Slain Law Enforcement

White House Press Secretary Kayleigh McEnany said Monday that “ all black lives matter ” including the lives of police @ @ @ @ @ last week .
“ All black lives matter , including the life of David Dorn @ @ @ @ @ week and a half ; including Patrick Underwood who also lost his life this week @ @ @ @ @ Former Police Captain David Dorn was slain as violent protesters broke into a St. Louis @ @ @ @ @ Officer Patrick Underwood was shot and killed in Oakland , California .

White House Press Secretary Kayleigh McEnany said Monday that “all black lives matter” including the lives of police officers slain by violent protesters last week.
“All black lives matter, including the life of David Dorn who perished in the last week and a half; including Patrick Underwood who also lost his life this week,” McEnany said.
.@PressSec: “All #blacklivesmatter, including the life of David Dorn…including Patrick Underwood….All black lives matter, but in terms of the movement #blacklivesmatter, they define themselves to defund the police and that’s something this President stands against” pic.twitter.com/MUof7aTYzD — Curtis Houck (@CurtisHouck) June 8, 2020
Former Police Captain David Dorn was slain as violent protesters broke into a St. Louis pawn shop, and Federal Officer Patrick Underwood was shot and killed in Oakland, California.
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newswars--2020-06-08--Chance of finding young Earth-like planets higher than previously thought

Research from the University of Sheffield has found that the chance of finding Earth-like planets in their early stages of formation is much higher than previously thought .
The team studied groups of young stars in the Milky Way to see if these groups were typical compared to theories and previous observations in other star-forming regions in space , and to study if the populations of stars in these groups affected the likelihood of finding forming Earth-like planets .
The research , published in The Astrophysical Journal , found that there are more stars like the Sun than expected in @ @ @ @ @ @ @ chances of finding Earth-like planets in their early stages of formation .
In their early stages of formation these Earth-like planets , called magma ocean planets , are still being made from collisions with rocks and smaller planets , which causes them to heat up so much that their surfaces become molten rock .
The team , led by Dr. Richard Parker , included undergraduate students from the University of Sheffield giving them the opportunity to apply the skills learnt on their course to leading published research in their field .
Dr. Richard @ @ @ @ @ @ @ ’ s Department of Physics and Astronomy , said : “ These magma ocean planets are easier to detect near stars like the Sun , which are twice as heavy as the average mass star .
These planets emit so much heat that we will be able to observe the glow from them using the next generation of infra-red telescopes .
“ The locations where we would find these planets are so-called ‘ young moving groups ’ which are groups of young stars that are less than 100 million years old—which is young @ @ @ @ @ @ @ typically only contain a few tens of stars each and previously it was difficult to determine whether we had found all of the stars in each group because they blend into the background of the Milky Way galaxy .
“ Observations from the Gaia telescope have helped us to find many more stars in these groups , which enabled us to carry out this study.
” The findings from the research will help further understanding of whether star formation is universal and will be an important resource for studying how rocky , habitable @ @ @ @ @ @ @ now hopes to use computer simulations to explain the origin of these young moving groups of stars .
The research team included undergraduate students Amy Bottrill , Molly Haigh , Madeleine Hole and Sarah Theakston from the University of Sheffield ’ s Department of Physics and Astronomy .
Molly Haigh said : “ Being involved in this project was one of the highlights of our university experience and it was a great opportunity to work on an area of astronomy outside the typical course structure .
“ It was rewarding to see a @ @ @ @ @ @ @ learnt in our degree by sampling the initial mass distribution of stars and how this can relate to the future of exoplanet detection.
” The Department of Physics and Astronomy at the University of Sheffield explores the fundamental laws of the universe and develops pioneering technologies with real-world applications .
Researchers are looking beyond our planet to map out distant galaxies , tackling global challenges including energy security , and exploring the opportunities presented by quantum computing and 2-D materials .

Research from the University of Sheffield has found that the chance of finding Earth-like planets in their early stages of formation is much higher than previously thought.
The team studied groups of young stars in the Milky Way to see if these groups were typical compared to theories and previous observations in other star-forming regions in space, and to study if the populations of stars in these groups affected the likelihood of finding forming Earth-like planets.
The research, published in The Astrophysical Journal, found that there are more stars like the Sun than expected in these groups, which would increase the chances of finding Earth-like planets in their early stages of formation.
In their early stages of formation these Earth-like planets, called magma ocean planets, are still being made from collisions with rocks and smaller planets, which causes them to heat up so much that their surfaces become molten rock.
The team, led by Dr. Richard Parker, included undergraduate students from the University of Sheffield giving them the opportunity to apply the skills learnt on their course to leading published research in their field.
Dr. Richard Parker, from the University of Sheffield’s Department of Physics and Astronomy, said: “These magma ocean planets are easier to detect near stars like the Sun, which are twice as heavy as the average mass star. These planets emit so much heat that we will be able to observe the glow from them using the next generation of infra-red telescopes.
“The locations where we would find these planets are so-called ‘young moving groups’ which are groups of young stars that are less than 100 million years old—which is young for a star. However, they typically only contain a few tens of stars each and previously it was difficult to determine whether we had found all of the stars in each group because they blend into the background of the Milky Way galaxy.
“Observations from the Gaia telescope have helped us to find many more stars in these groups, which enabled us to carry out this study.”
The findings from the research will help further understanding of whether star formation is universal and will be an important resource for studying how rocky, habitable planets like Earth form. The team now hopes to use computer simulations to explain the origin of these young moving groups of stars.
The research team included undergraduate students Amy Bottrill, Molly Haigh, Madeleine Hole and Sarah Theakston from the University of Sheffield’s Department of Physics and Astronomy.
Molly Haigh said: “Being involved in this project was one of the highlights of our university experience and it was a great opportunity to work on an area of astronomy outside the typical course structure.
“It was rewarding to see a physical application of the computer coding we learnt in our degree by sampling the initial mass distribution of stars and how this can relate to the future of exoplanet detection.”
The Department of Physics and Astronomy at the University of Sheffield explores the fundamental laws of the universe and develops pioneering technologies with real-world applications. Researchers are looking beyond our planet to map out distant galaxies, tackling global challenges including energy security, and exploring the opportunities presented by quantum computing and 2-D materials.


newswars--2020-06-08--Why GDP Metrics Won’t Tell Us Much about the Post-COVID Recovery

In seeking to measure everything , econometricians gave us the dubious gift of gross national product and gross domestic product , the latter being in fashion today and the former in times past .
Although there are different ways of measuring it , GDP is commonly taken as a measure of spending , comprised of household spending , government spending , investment spending , and net exports .
The Bank of England ’ s guide says that it is a measure of the size and health of the economy .
And the US ’ s Bureau of Economic Analysis similarly @ @ @ @ @ @ @ GDP is the most popular indicator of the nation ’ s overall economic health ” .
Although GDP is a measure of the size of an economy , it is an error to describe it as a measure of the economy ’ s health .
Economic theory and empirical evidence are clear on the matter : an economy dominated by government spending is not a healthy economy , compared with one dominated by private spending ; yet these two different models can produce the same total consumption figures .
When Gordon Brown was @ @ @ @ @ @ @ at the turn of the millennium , he consistently delivered GDP growth greater than forecast by independent economists .
But when you took the numbers apart , it was achieved not by a private sector doing well , as everyone assumed , but by the government spending more than expected .
We must therefore disassociate changes in GDP from economic health , or put more specifically , changes in GDP tell us nothing about human progress or regress .
GDP is simply a total of recorded transactions , a national but less accurate @ @ @ @ @ @ @ figure .
We can go further .
Let us assume that there is a fixed amount of money in the economy , which means that net exports must be zero , because the counterpart to an imbalance in trade is net money flows .
That leaves the allocation of GDP free to adjust between nongovernment , government , and investment categories without any change in the GDP total .
Assuming there is no change in the ratio of recorded GDP transactions to unrecorded and excluded transactions , of which a total economy is @ @ @ @ @ @ @ all GDP categories will rearrange their spending priorities within a fixed money total .
There will be no increase or decrease in GDP , though the benefits to the human condition can increase or decrease .
In reality , the situation is complicated by large elements of transactions being excluded from GDP .
The acquisition of securities and trade in secondhand goods are examples of exclusions .
But for the moment let ’ s stick with the fiction that there ’ s no movement between GDP and its exclusions .
Now let us @ @ @ @ @ @ @ in the quantity of money emanating from the central bank .
The extra money will flow into both GDP and excluded categories .
The extent to which the extra money affects both categories is simply additional .
In other words , GDP , being the total of recorded transactions , increases exactly by the extra money spent on items within the statistic .
Other than the distortions solely connected with the absorption of additional money as it filters into the economy , there is more money being spent on the same quantity of @ @ @ @ @ @ @ a period of adjustment each monetary unit buys on average proportionately less .
We can confirm this by referring back to Say ’ s law , which posits that we divide our labor , specializing in what we are good at in order to buy the things we need and want .
Money is just the commodity we use to turn our own production into consumption , allowing us to evaluate and compare different goods .
The quantity of money and its purchasing power are immaterial to its function as a transaction medium @ @ @ @ @ @ @ be made in a different way : a consumer in Europe , India , or America uses the local currency to facilitate the division of his or her labor : whether it is euros , rupees , or dollars does not matter , so long as it is accepted as a medium of exchange .
Therefore , an increase in GDP does not reflect the health of an economy but only the extra money inflated into it as a category of economic measurement .
And for those seeking to estimate how much of @ @ @ @ @ @ @ transactions over a period of time , all they need to do is measure the difference between the more recent GDP figure and the former , adjusted for any change in net exports .
In the monetary conditions we face today , that is to say a sharply accelerating rate of monetary inflation , after a brief period allowing for its absorption into general circulation , nominal GDP will rise at an increasing rate .
But , as we have seen , those who take it as indicating a healthy economy will be @ @ @ @ @ @ @ , we know that economies that collapse their currencies through monetary inflation will exhibit high levels of growth in the nominal GDP statistic .
But can we find examples to prove it ?
It is difficult to do so for two reasons .
Firstly , the statistics available are so inaccurate as to be even more meaningless than those produced by nations with more moderate rates of monetary inflation ; and secondly , statisticians in international bodies abandon domestic currency measures , replacing them with dollar equivalents at official exchange rates .
Using @ @ @ @ @ @ @ black market rate , which is always the more accurate of the two , will produce wildly different results .
But that is ignored by government statisticians .
And we have found from examples of high monetary inflation that the inadequacy of statistical analysis and misconceptions over GDP are confirmed by econometricians discarding the principals behind their method in these extreme cases .
But we are all becoming extreme cases now .
High-spending governments are facing a period of accelerating monetary inflation for the dollar as their international currency as well as for @ @ @ @ @ @ @ to rescue their economies from the crises they were mainly responsible for in the first place .
Only this week the Atlanta Fed forecast a 41.8 percent collapse in America ’ s GDP in the current second quarter , admittedly the immediate consequence of lockdowns .
There will be a statistical recovery as lockdown rules are withdrawn .
Beyond that , there can be no doubt that the transmission to GDP constituents of the rapid increase in the quantity of money issued by the Fed in recent weeks takes time , not least @ @ @ @ @ @ @ to lend and because the downturn in consumption and product supply is both current and severe .
But we know that the quantity of money included in the GDP statistic will increase through government spending and helicopter money .
The nominal GDP statistic will recover , but the recovery will simply reflect the amount of new money , even though economic activity will likely remain badly depressed .
The extra money will be reflected in the prices of the goods and services upon which it is spent .
But the consequences for prices @ @ @ @ @ @ @ supply and demand factors for individual goods will have their own effect on individual prices , while the increased quantity of money as it is absorbed into the economy will have another .
Equally important are the different choices people make in these changed circumstances .
And this is where disregarding Say ’ s law really undermines the relevance of the statistical approach .
Since the virus lockdown , what people desired beforehand bears little relation to their needs and wants in the coming months .
Meanwhile , the assumption behind GDP is @ @ @ @ @ @ @ be desired tomorrow , any adjustments to outcomes being made in retrospect .
The monetary expansion , insofar as it is spent in the nonfinancial GDP economy , lends support to yesterday ’ s production .
The reallocation of capital in all its forms , of money , labor , establishments , and product inputs to respond to change , is thereby discouraged and restricted .
Furthermore , the debasement of people ’ s earnings and savings impoverishes them even further .
Inflation of the quantity of money always transfers wealth and earnings @ @ @ @ @ @ @ And with governments being the largest borrowers for increasing amounts , they are the largest beneficiaries of the wealth transfer and their electors are the losers .
The impoverishment of the masses through monetary inflation guarantees that monetary policies touted as rescuing the nonfinancial economy will fail .

In seeking to measure everything, econometricians gave us the dubious gift of gross national product and gross domestic product, the latter being in fashion today and the former in times past.
Although there are different ways of measuring it, GDP is commonly taken as a measure of spending, comprised of household spending, government spending, investment spending, and net exports. The Bank of England’s guide says that it is a measure of the size and health of the economy. And the US’s Bureau of Economic Analysis similarly says, “the growth rate of GDP is the most popular indicator of the nation’s overall economic health”.
Although GDP is a measure of the size of an economy, it is an error to describe it as a measure of the economy’s health. Economic theory and empirical evidence are clear on the matter: an economy dominated by government spending is not a healthy economy, compared with one dominated by private spending; yet these two different models can produce the same total consumption figures. When Gordon Brown was Britain’s chancellor of the exchequer at the turn of the millennium, he consistently delivered GDP growth greater than forecast by independent economists. But when you took the numbers apart, it was achieved not by a private sector doing well, as everyone assumed, but by the government spending more than expected.
We must therefore disassociate changes in GDP from economic health, or put more specifically, changes in GDP tell us nothing about human progress or regress. GDP is simply a total of recorded transactions, a national but less accurate equivalent of a company’s turnover figure. We can go further. Let us assume that there is a fixed amount of money in the economy, which means that net exports must be zero, because the counterpart to an imbalance in trade is net money flows. That leaves the allocation of GDP free to adjust between nongovernment, government, and investment categories without any change in the GDP total.
Assuming there is no change in the ratio of recorded GDP transactions to unrecorded and excluded transactions, of which a total economy is always comprised, all individual actors in all GDP categories will rearrange their spending priorities within a fixed money total. There will be no increase or decrease in GDP, though the benefits to the human condition can increase or decrease.
In reality, the situation is complicated by large elements of transactions being excluded from GDP. The acquisition of securities and trade in secondhand goods are examples of exclusions. But for the moment let’s stick with the fiction that there’s no movement between GDP and its exclusions. Now let us further assume that there is an increase in the quantity of money emanating from the central bank. The extra money will flow into both GDP and excluded categories. The extent to which the extra money affects both categories is simply additional. In other words, GDP, being the total of recorded transactions, increases exactly by the extra money spent on items within the statistic. Other than the distortions solely connected with the absorption of additional money as it filters into the economy, there is more money being spent on the same quantity of goods. It is just that after a period of adjustment each monetary unit buys on average proportionately less.
We can confirm this by referring back to Say’s law, which posits that we divide our labor, specializing in what we are good at in order to buy the things we need and want. Money is just the commodity we use to turn our own production into consumption, allowing us to evaluate and compare different goods. The quantity of money and its purchasing power are immaterial to its function as a transaction medium in this respect. The point can be made in a different way: a consumer in Europe, India, or America uses the local currency to facilitate the division of his or her labor: whether it is euros, rupees, or dollars does not matter, so long as it is accepted as a medium of exchange.
Therefore, an increase in GDP does not reflect the health of an economy but only the extra money inflated into it as a category of economic measurement. And for those seeking to estimate how much of the extra money has gone into included transactions over a period of time, all they need to do is measure the difference between the more recent GDP figure and the former, adjusted for any change in net exports.
In the monetary conditions we face today, that is to say a sharply accelerating rate of monetary inflation, after a brief period allowing for its absorption into general circulation, nominal GDP will rise at an increasing rate. But, as we have seen, those who take it as indicating a healthy economy will be badly misled.
Armed with this knowledge, we know that economies that collapse their currencies through monetary inflation will exhibit high levels of growth in the nominal GDP statistic. But can we find examples to prove it? It is difficult to do so for two reasons. Firstly, the statistics available are so inaccurate as to be even more meaningless than those produced by nations with more moderate rates of monetary inflation; and secondly, statisticians in international bodies abandon domestic currency measures, replacing them with dollar equivalents at official exchange rates.
Using an official rate of exchange or the black market rate, which is always the more accurate of the two, will produce wildly different results. But that is ignored by government statisticians. And we have found from examples of high monetary inflation that the inadequacy of statistical analysis and misconceptions over GDP are confirmed by econometricians discarding the principals behind their method in these extreme cases. But we are all becoming extreme cases now.
High-spending governments are facing a period of accelerating monetary inflation for the dollar as their international currency as well as for their own, driven by an imperative to rescue their economies from the crises they were mainly responsible for in the first place. Only this week the Atlanta Fed forecast a 41.8 percent collapse in America’s GDP in the current second quarter, admittedly the immediate consequence of lockdowns. There will be a statistical recovery as lockdown rules are withdrawn.
Beyond that, there can be no doubt that the transmission to GDP constituents of the rapid increase in the quantity of money issued by the Fed in recent weeks takes time, not least due to the commercial banks’ reluctance to lend and because the downturn in consumption and product supply is both current and severe. But we know that the quantity of money included in the GDP statistic will increase through government spending and helicopter money. The nominal GDP statistic will recover, but the recovery will simply reflect the amount of new money, even though economic activity will likely remain badly depressed.
The extra money will be reflected in the prices of the goods and services upon which it is spent. But the consequences for prices are not so straightforward. Changes in supply and demand factors for individual goods will have their own effect on individual prices, while the increased quantity of money as it is absorbed into the economy will have another. Equally important are the different choices people make in these changed circumstances. And this is where disregarding Say’s law really undermines the relevance of the statistical approach.
Since the virus lockdown, what people desired beforehand bears little relation to their needs and wants in the coming months. Meanwhile, the assumption behind GDP is that what was desired yesterday will also be desired tomorrow, any adjustments to outcomes being made in retrospect. The monetary expansion, insofar as it is spent in the nonfinancial GDP economy, lends support to yesterday’s production. The reallocation of capital in all its forms, of money, labor, establishments, and product inputs to respond to change, is thereby discouraged and restricted.
Furthermore, the debasement of people’s earnings and savings impoverishes them even further. Inflation of the quantity of money always transfers wealth and earnings from savers and individuals to borrowers. And with governments being the largest borrowers for increasing amounts, they are the largest beneficiaries of the wealth transfer and their electors are the losers. The impoverishment of the masses through monetary inflation guarantees that monetary policies touted as rescuing the nonfinancial economy will fail.


newswars--2020-06-08--Central Bankers Gone Wild: It’s a New Era at the Fed

Editor ’ s Note : We keep hearing from the Fed ’ s defenders that the current spate of new stimulus and bailouts from the central bank are really not a big deal and are all very prudent and moderate .
I asked Senior Fellow Bob Murphy to provide some much needed perspective .
Ryan McMaken : We ’ re in a very odd situation right now in terms of evaluating the state of the economy .
We can see that there is rising unemployment , and there is likely to be a wave of missed mortgage and rent payments @ @ @ @ @ @ @ the government-mandated “ shutdowns ” or are there deeper economic issues here ?
Robert P. Murphy : In economics there are no controlled experiments , so partisans on a policy dispute can both continue to claim that the evidence is on their side .
That ’ s why Keynesians and Austrians still disagree about the “ lessons ” of the 1930s , or whether the Obama stimulus package created or destroyed jobs .
During the present economic crisis , I am firmly in the camp that it was not due merely to the @ @ @ @ @ @ @ ) coercive lockdowns that various governments instituted , ostensibly as a public health response .
I agree with Jeff Deist , who argued back in April that “ The supposed greatest economy in US history actually was a walking sick man , made comfortable with painkillers , and looking far better than he felt—yet ultimately fragile and infirm .
The coronavirus pandemic simply exposed the underlying sickness of the US economy .
If anything , the crash was overdue.
” What evidence can we marshal to support such a perspective ?
Well , @ @ @ @ @ @ @ my economic prognostications , but back in October 2007 I did write an article for Mises.org , worrying that the US could be in store for the worst recession in twenty-five years—this was almost a full year before the actual crash in the fall of 2008 .
And in that article I wasn ’ t throwing darts at a GDP chart ; instead I used Austrian business cycle theory to gauge the extent of Fed distortions in the financial system .
Now , if I then made a good prediction in real time @ @ @ @ @ @ @ s artificially low interest rates , that gives me confidence that the Fed ’ s post-2008 rounds of QE ( quantitative easing ) and seven full years of virtually zero percent interest rates quite clearly drove the booming stock market under Obama , yet set us up for a much bigger crash .
Even non-Austrians had enough information to know to worry .
Back in September of 2019 , I explained how the inverted yield curve signaled an impending recession for the summer of 2020—i.e.
, right now .
RM : As the @ @ @ @ @ @ @ lowered the target rate from 1.75 to 0.25 percent in a two-week period .
That ’ s a big drop .
What was the Fed trying to do when it did this , and can it achieve its goals ?
RPM : I think regular Americans would be shocked if they realized just how crude the basic models are that guide central banking policy .
I ’ m simplifying somewhat , but the official rationale was that a weak/panicked economy needs more spending in order to maintain employment , and the way you @ @ @ @ @ @ @ .
There ’ s also the notion that the markets want reassurance that the Fed is waiting to help , and so by taking a “ bold ” move quickly , the Fed could possibly nip a self-fulfilling prophecy in the bud .
Having said all of that , it ’ s possible that behind the scenes the real reason the Fed did what it did was that certain powerful players were caught with their pants down , and they needed cheap loans to salvage their positions .
I don ’ t think @ @ @ @ @ @ @ no , it won ’ t ( in the long run ) help the financial sector or the broader economy .
In the Austrian view , interest rates aren ’ t merely a gas pedal/brake for spending ; they help coordinate long-term plans made by consumers and businesses .
So if the Fed pushes interest rates below the correct market level corresponding to genuine saving decisions and the state of the economy , then it will foster an unsustainable structure of production .
This was Ludwig von Mises ’ s theory of the @ @ @ @ @ @ @ be appreciated by most other free market economists—let alone the Keynesians .
RM : Many commentators on the Fed ’ s stimulus packages have claimed that it ’ s not really that big a deal because the Fed is only exchanging liquidity for collateral , and Fed stimulus is mostly just loans that will be paid back anyway .
So is this just much ado about nothing ?
RPM : Back when the Fed ’ s “ extraordinary ” injections of liquidity started , I argued that this nonchalance was wrong .
Look @ @ @ @ @ @ @ check for my Nissan Sentra for $ 100,000 , then on the moment of sale my car would have a “ market value ” of $ 100,000 and the Fed would just be adding equal amounts to its assets and liabilities .
Yet that clearly would bail me out , even though it would appear to be a mere “ asset swap ” rather than a transfer payment .
Put it this way : If the Fed ’ s injections of “ liquidity ” don ’ t really help the fat cats in @ @ @ @ @ @ @ just cancel them and won ’ t affect anybody , right ?
RM : We seem to now be in a time of unprecedented fiscal and monetary stimulus .
In the past , there seemed to be some political and legal limits on what could be done in this regard .
Why do you think there are now almost no limits on what the Fed and Congress can get away with in terms of spending and bailouts ?
RPM : In an essay I wrote for a collection edited by David Howden and @ @ @ @ @ @ @ Bernanke was “ the FDR of central bankers.
” What I meant was the Bernanke took the economic crisis and used it as an opportunity to fundamentally expand what Americans perceived as the proper role of the Federal Reserve .
It wasn ’ t merely that Bernanke doubled the holdings of the Fed in mere months , but that the type of assets the Fed bought or lent against was greatly expanded .
To appreciate just how dubious these moves were , realize that the Fed back in 2008 created “ Maiden Lane @ @ @ @ @ @ @ that would get loans from the Fed , then go out and buy mortgage-backed securities ( MBS ) .
Since the Fed didn ’ t have the statutory authority to buy MBS , they could say , “ We ’ re not buying these forbidden assets , we ’ re just lending money to Maiden Lane LLC .
We have the ability to lend money to whichever institution we want .
Now if Maiden Lane LLC takes the money and goes and buys some mortgage-backed securities , that ’ s their business… ” @ @ @ @ @ @ @ s not just that Bernanke ’ s Fed did things that were bad policies .
They were also arguably illegal .
We see a similar phenomenon with Jay Powell and the coronavirus panic .
When people are scared they let the authorities get away with all sorts of nonsense .
The Fed got rid of reserve requirements in the last section of an addendum to the main press release of a surprise Sunday night meeting , and barely anybody even covered it .
Likewise with fiscal policy .
Apparently the folks who brought @ @ @ @ @ @ @ of having its price tag exceed $ 1 trillion , but that ’ s obviously not stopping anybody now .
The American people have been so desensitized to these gigantic numbers that nothing is shocking .
But for what it ’ s worth , the CBO ( Congressional Budget Office ) itself is now saying that federal debt held by the public—as a share of the economy—will break 101 percent by October .
I think the only thing that will reinstill a sense of discipline is if there is a tangible and immediate @ @ @ @ @ @ @ a Fed announcement of more asset purchases causes the dollar to fall 20 percent against other currencies , or if the projection of another $ 1 trillion deficit causes Treasury rates to spike , then maybe Americans will stop looking to Washington as a magic source of financing .

Editor’s Note: We keep hearing from the Fed’s defenders that the current spate of new stimulus and bailouts from the central bank are really not a big deal and are all very prudent and moderate. I asked Senior Fellow Bob Murphy to provide some much needed perspective.
Ryan McMaken: We’re in a very odd situation right now in terms of evaluating the state of the economy. We can see that there is rising unemployment, and there is likely to be a wave of missed mortgage and rent payments. Is this all just due to the government-mandated “shutdowns” or are there deeper economic issues here?
Robert P. Murphy: In economics there are no controlled experiments, so partisans on a policy dispute can both continue to claim that the evidence is on their side. That’s why Keynesians and Austrians still disagree about the “lessons” of the 1930s, or whether the Obama stimulus package created or destroyed jobs.
During the present economic crisis, I am firmly in the camp that it was not due merely to the coronavirus or even to the (counterproductive) coercive lockdowns that various governments instituted, ostensibly as a public health response. I agree with Jeff Deist, who argued back in April that “The supposed greatest economy in US history actually was a walking sick man, made comfortable with painkillers, and looking far better than he felt—yet ultimately fragile and infirm. The coronavirus pandemic simply exposed the underlying sickness of the US economy. If anything, the crash was overdue.”
What evidence can we marshal to support such a perspective? Well, I have been far from flawless in my economic prognostications, but back in October 2007 I did write an article for Mises.org, worrying that the US could be in store for the worst recession in twenty-five years—this was almost a full year before the actual crash in the fall of 2008. And in that article I wasn’t throwing darts at a GDP chart; instead I used Austrian business cycle theory to gauge the extent of Fed distortions in the financial system.
Now, if I then made a good prediction in real time based on Austrian theory and Greenspan’s artificially low interest rates, that gives me confidence that the Fed’s post-2008 rounds of QE (quantitative easing) and seven full years of virtually zero percent interest rates quite clearly drove the booming stock market under Obama, yet set us up for a much bigger crash.
Even non-Austrians had enough information to know to worry. Back in September of 2019, I explained how the inverted yield curve signaled an impending recession for the summer of 2020—i.e., right now.
RM: As the crisis grew during March, the Fed lowered the target rate from 1.75 to 0.25 percent in a two-week period. That’s a big drop. What was the Fed trying to do when it did this, and can it achieve its goals?
RPM: I think regular Americans would be shocked if they realized just how crude the basic models are that guide central banking policy. I’m simplifying somewhat, but the official rationale was that a weak/panicked economy needs more spending in order to maintain employment, and the way you goose spending is to lower interest rates. There’s also the notion that the markets want reassurance that the Fed is waiting to help, and so by taking a “bold” move quickly, the Fed could possibly nip a self-fulfilling prophecy in the bud.
Having said all of that, it’s possible that behind the scenes the real reason the Fed did what it did was that certain powerful players were caught with their pants down, and they needed cheap loans to salvage their positions.
I don’t think this was a wise move, and no, it won’t (in the long run) help the financial sector or the broader economy. In the Austrian view, interest rates aren’t merely a gas pedal/brake for spending; they help coordinate long-term plans made by consumers and businesses. So if the Fed pushes interest rates below the correct market level corresponding to genuine saving decisions and the state of the economy, then it will foster an unsustainable structure of production. This was Ludwig von Mises’s theory of the business cycle, which has yet to be appreciated by most other free market economists—let alone the Keynesians.
RM: Many commentators on the Fed’s stimulus packages have claimed that it’s not really that big a deal because the Fed is only exchanging liquidity for collateral, and Fed stimulus is mostly just loans that will be paid back anyway. So is this just much ado about nothing?
RPM: Back when the Fed’s “extraordinary” injections of liquidity started, I argued that this nonchalance was wrong. Look, if the Fed wrote me a check for my Nissan Sentra for $100,000, then on the moment of sale my car would have a “market value” of $100,000 and the Fed would just be adding equal amounts to its assets and liabilities. Yet that clearly would bail me out, even though it would appear to be a mere “asset swap” rather than a transfer payment.
Put it this way: If the Fed’s injections of “liquidity” don’t really help the fat cats in the financial sector, then we can just cancel them and won’t affect anybody, right?
RM: We seem to now be in a time of unprecedented fiscal and monetary stimulus. In the past, there seemed to be some political and legal limits on what could be done in this regard. Why do you think there are now almost no limits on what the Fed and Congress can get away with in terms of spending and bailouts?
RPM: In an essay I wrote for a collection edited by David Howden and Joe Salerno, I argued that Ben Bernanke was “the FDR of central bankers.” What I meant was the Bernanke took the economic crisis and used it as an opportunity to fundamentally expand what Americans perceived as the proper role of the Federal Reserve. It wasn’t merely that Bernanke doubled the holdings of the Fed in mere months, but that the type of assets the Fed bought or lent against was greatly expanded.
To appreciate just how dubious these moves were, realize that the Fed back in 2008 created “Maiden Lane” LLCs, which were intermediate companies that would get loans from the Fed, then go out and buy mortgage-backed securities (MBS). Since the Fed didn’t have the statutory authority to buy MBS, they could say, “We’re not buying these forbidden assets, we’re just lending money to Maiden Lane LLC. We have the ability to lend money to whichever institution we want. Now if Maiden Lane LLC takes the money and goes and buys some mortgage-backed securities, that’s their business…” So, to reiterate, it’s not just that Bernanke’s Fed did things that were bad policies. They were also arguably illegal.
We see a similar phenomenon with Jay Powell and the coronavirus panic. When people are scared they let the authorities get away with all sorts of nonsense. The Fed got rid of reserve requirements in the last section of an addendum to the main press release of a surprise Sunday night meeting, and barely anybody even covered it.
Likewise with fiscal policy. Apparently the folks who brought us the Obama stimulus package were afraid of having its price tag exceed $1 trillion, but that’s obviously not stopping anybody now. The American people have been so desensitized to these gigantic numbers that nothing is shocking. But for what it’s worth, the CBO (Congressional Budget Office) itself is now saying that federal debt held by the public—as a share of the economy—will break 101 percent by October.
I think the only thing that will reinstill a sense of discipline is if there is a tangible and immediate reaction to these crazy policies. If a Fed announcement of more asset purchases causes the dollar to fall 20 percent against other currencies, or if the projection of another $1 trillion deficit causes Treasury rates to spike, then maybe Americans will stop looking to Washington as a magic source of financing.