australiannationalreview--2020-05-04--Will Coronavirus End the Fed?

Will Coronavirus End the Fed?

September 17 , 2019 was a significant day in American economic history .
On that day , the New York Federal Reserve began emergency cash infusions into the repurchasing ( repo ) market .
This is the market banks use to make short-term loans to each other .
The New York Fed acted after interest rates in the repo market rose to almost 10 percent , well above the Fed ’ s target rate .
The New York Fed claimed its intervention was a temporary measure , but it has not stopped pumping money into the repo market since September @ @ @ @ @ @ @ been expanding its balance sheet since September .
Investment advisor Michael Pento called the balance sheet expansion quantitative easing ( QE ) “ on steroids.
” I mention these interventions to show that the Fed was taking extraordinary measures to prop up the economy months before anyone in China showed the first symptoms of coronavirus .
Now the Fed is using the historic stock market downturn and the ( hopefully ) temporary closure of businesses in the coronavirus panic to dramatically increase its interventions in the economy .
Not only has the Fed @ @ @ @ @ @ @ the repo market , it is purchasing unlimited amounts of Treasury securities and mortgage-backed securities .
This was welcome news to Congress and the president , as it came as they were working on setting up trillions of dollars in spending in coronavirus aid/economic stimulus bills .
This month the Fed announced it would start purchasing municipal bonds , thus ensuring the state and local government debt bubble will keep growing for a few more months .
The Fed has also created three new loan facilities to provide hundreds of billions of dollars @ @ @ @ @ @ @ Chairman Jerome Powell has stated that the Fed will lend out as much as it takes to revive the economy .
The Fed is also reducing interest rates to zero .
We likely already have negative real interest rates because of inflation .
Negative real interest rates are a tax on savings and thus lead to a lack of private funds available for investment , giving the Fed another excuse to expand its lending activities .
The Fed ’ s actions may appear to mitigate some of the damage of the coronavirus panic @ @ @ @ @ @ @ with new money , expanding asset purchases , and facilitating Congress and the president ’ s spending sprees , the Fed is exacerbating America ’ s long-term economic problems .
The Federal Reserve is unlikely to end these emergency measures after the government declares it is safe to resume normal life .
Consumers , businesses , and ( especially ) the federal government are so addicted to low interest rates , quantitative easing , and other Federal Reserve interventions that any effort by the Fed to allow rates to rise or to stop @ @ @ @ @ @ @ recession .
Eventually the Federal Reserve-created consumer , business , and government debt bubbles will explode , leading to a major crisis that will dwarf the current coronavirus shutdown .
The silver lining is that this next crisis could finally demolish the Keynesian welfare-warfare state and the fiat money system .
The Federal Reserve ’ s unprecedented interventions in the marketplace make it more urgent than ever that Congress pass , and President Trump sign , the Audit the Fed bill .
This would finally allow the American people to learn the truth @ @ @ @ @ @ @ monetary policy .
Audit the Fed is a step toward restoring health to our economic system by ending the fiat money pandemic that facilitates the welfare-warfare state and the unstable , debt-based economy .

By Ron Paul
September 17, 2019 was a significant day in American economic history. On that day, the New York Federal Reserve began emergency cash infusions into the repurchasing (repo) market. This is the market banks use to make short-term loans to each other. The New York Fed acted after interest rates in the repo market rose to almost 10 percent, well above the Fed’s target rate.
The New York Fed claimed its intervention was a temporary measure, but it has not stopped pumping money into the repo market since September. Also, the Federal Reserve has been expanding its balance sheet since September. Investment advisor Michael Pento called the balance sheet expansion quantitative easing (QE) “on steroids.”
I mention these interventions to show that the Fed was taking extraordinary measures to prop up the economy months before anyone in China showed the first symptoms of coronavirus.
Now the Fed is using the historic stock market downturn and the (hopefully) temporary closure of businesses in the coronavirus panic to dramatically increase its interventions in the economy. Not only has the Fed increased the amount it is pumping into the repo market, it is purchasing unlimited amounts of Treasury securities and mortgage-backed securities. This was welcome news to Congress and the president, as it came as they were working on setting up trillions of dollars in spending in coronavirus aid/economic stimulus bills.
This month the Fed announced it would start purchasing municipal bonds, thus ensuring the state and local government debt bubble will keep growing for a few more months.
The Fed has also created three new loan facilities to provide hundreds of billions of dollars in credit to businesses. Federal Reserve Chairman Jerome Powell has stated that the Fed will lend out as much as it takes to revive the economy.
The Fed is also reducing interest rates to zero. We likely already have negative real interest rates because of inflation. Negative real interest rates are a tax on savings and thus lead to a lack of private funds available for investment, giving the Fed another excuse to expand its lending activities.
The Fed’s actions may appear to mitigate some of the damage of the coronavirus panic. However, by flooding the economy with new money, expanding asset purchases, and facilitating Congress and the president’s spending sprees, the Fed is exacerbating America’s long-term economic problems.
The Federal Reserve is unlikely to end these emergency measures after the government declares it is safe to resume normal life. Consumers, businesses, and (especially) the federal government are so addicted to low interest rates, quantitative easing, and other Federal Reserve interventions that any effort by the Fed to allow rates to rise or to stop creating new money will cause a severe recession.
Eventually the Federal Reserve-created consumer, business, and government debt bubbles will explode, leading to a major crisis that will dwarf the current coronavirus shutdown. The silver lining is that this next crisis could finally demolish the Keynesian welfare-warfare state and the fiat money system.
The Federal Reserve’s unprecedented interventions in the marketplace make it more urgent than ever that Congress pass, and President Trump sign, the Audit the Fed bill. This would finally allow the American people to learn the truth about the Fed’s conduct of monetary policy. Audit the Fed is a step toward restoring health to our economic system by ending the fiat money pandemic that facilitates the welfare-warfare state and the unstable, debt-based economy.


australiannationalreview--2020-04-01--The End of Civilization?

The End of Civilization?

Governments all over the world are using the alleged threat of a COVID-19 pandemic to shut down the world ’ s economy .
Daniel Lacalle , an authority on energy economics , writes : “ The decision to shut down air travel and close all nonessential businesses is now a reality in major global economies .
The United States has banned all European flights as Italy enters a complete lockdown , Spain declares a state of emergency , and France closes all nonessential public places and businesses.
” Further , he points out , governments can ’ t solve the @ @ @ @ @ @ @ programs and bigger deficits .
These policies make things worse : “ Governments will implement large demand-side policies that are the wrong answer to a shutdown of the economy .
Most businesses will suffer from the collapse in sales and subsequent working capital build , and none of that will be solved with deficit spending .
You can not mitigate a supply shock with demand policies , which increase debt and overcapacity in the already indebted and bloated sectors and do not help the sectors that are suffering an abrupt collapse in activity.
@ @ @ @ @ @ @ i.e.
, outright inflationism , is even more dangerous .
Lacalle ’ s remarks bring to mind the trenchant comments on Ludwig von Mises .
He warns against attempts to shore up disastrous policies by printing more money .
Mises says , “ No emergency can justify a return to inflation .
Inflation can provide neither the weapons a nation needs to defend its independence nor the capital goods required for any project .
It does not cure unsatisfactory conditions .
It merely helps the rulers whose policies brought about the catastrophe to @ @ @ @ @ @ @ a policy of inflationism will end : “ Inflation is the fiscal complement of statism and arbitrary government .
It is a cog in the complex of policies and institutions which gradually lead toward totalitarianism.
” Bill Sardi emphasizes the criminal folly of US government policy .
The federal government , he says .
is “ willing to crash the economy , kill businesses , particularly churches and restaurants that are unlikely to have the resources to re-open their establishments , and coerce people to stay indoors , a practice that will further @ @ @ @ @ @ @ widespread infection and death among retirees.
” States and cities have rushed to follow suit .
Los Angeles and San Francisco , for example , are now under drastic “ shelter-in-place ” orders that require “ non-essential businesses ” to close and forbid dining in restaurants .
To understand more fully what is happening , we need the guidance of two great thinkers , Ludwig von Mises and Murray Rothbard .
They teach us a vital lesson .
Civilization depends on the international division of labor .
To destroy the division of labor @ @ @ @ @ @ @ as we know can not survive under a system of economic autarky .
Rothbard explains this key principle in “ Freedom , Inequality , Primitivism , and the Division of Labor : ” No one can fully develop his powers in any direction without engaging in specialization .
The primitive tribesman or peasant , bound to an endless round of different tasks in order to maintain himself , could have no time or resources available to pursue any particular interest to the full .
He had no room to specialize , to develop @ @ @ @ @ @ @ in which he was most interested .
Two hundred years ago , Adam Smith pointed out that the developing division of labor is a key to the advance of any economy above the most primitive level .
A necessary condition for any sort of developed economy , the division of labor is also requisite to the development of any sort of civilized society .
The philosopher , the scientist , the builder , the merchant — none could develop these skills or functions if he had had no scope for specialization .
Furthermore @ @ @ @ @ @ @ in a society enjoying a wide range of division of labor can possibly employ his powers to the fullest .
He can not concentrate his powers in a field or discipline and advance that discipline and his own mental faculties .
Without the opportunity to specialize in whatever he can do best , no person can develop his powers to the full ; no man , then , could be fully human .
While a continuing and advancing division of labor is needed for a developed economy and society , the extent of @ @ @ @ @ @ @ the degree of specialization that any given economy can have .
There is , therefore , no room for a physicist or a computer engineer on a primitive island ; these skills would be premature within the context of that existing economy .
As Adam Smith put it , ‘ the division of labor is limited by the extent of the market.
’ Economic and social development is therefore a mutually reinforcing process : the development of the market permits a wider division of labor , which in turn enables of further extension @ @ @ @ @ @ @ along the same lines : “ The fundamental social phenomenon is the division of labor and its counterpart human cooperation .
Experience teaches man that cooperative action is more efficient and productive than isolated action of self-sufficient individuals .
The natural conditions determining man ’ s life and effort are such that the division of labor increases output per unit of labor expended.
” The division of labor , Mises tells us , is the key to the development of civilization .
He says , “ We conceive what incentive induced people not @ @ @ @ @ @ @ a struggle for the appropriation of the limited supply of means of subsistence made available by nature .
We realize what has impelled them and permanently impels them to consort with one another for the sake of cooperation .
Every step forward on the way to a more developed mode of the division of labor serves the interests of all participants.
” Now , governments all over the world want us to give this up .
Abandoning the international division of labor will hit Africa , dependent on trade for bare survival , @ @ @ @ @ @ @ the world ’ s carefully wrought economic system being dismantled ?
Does the spread of COVID-19 require us to destroy the world ’ s economy ?
Here we can learn from another outstanding thinker , Ron Paul , who is a medical doctor and can give an expert analysis of government medical propaganda .
He says : “ On Face the Nation , [ Dr. Anthony ] Fauci did his best to further damage an already tanking economy by stating , ‘ Right now , personally , myself , I wouldn ’ t @ @ @ @ @ @ @ pushed for closing the entire country down for 14 days .
Over what ?
A virus that has thus far killed just over 5,000 worldwide and less than 100 in the United States ?
By contrast , tuberculosis , an old disease not much discussed these days , killed nearly 1.6 million people in 2017 .
Where ’ s the panic over this ?

Governments all over the world are using the alleged threat of a COVID-19 pandemic to shut down the world’s economy. Daniel Lacalle, an authority on energy economics, writes: “The decision to shut down air travel and close all nonessential businesses is now a reality in major global economies. The United States has banned all European flights as Italy enters a complete lockdown, Spain declares a state of emergency, and France closes all nonessential public places and businesses.”Further, he points out, governments can’t solve the problems they have created through massive spending programs and bigger deficits. These policies make things worse: “Governments will implement large demand-side policies that are the wrong answer to a shutdown of the economy. Most businesses will suffer from the collapse in sales and subsequent working capital build, and none of that will be solved with deficit spending. You cannot mitigate a supply shock with demand policies, which increase debt and overcapacity in the already indebted and bloated sectors and do not help the sectors that are suffering an abrupt collapse in activity.” And government printing of money, i.e., outright inflationism, is even more dangerous.
Lacalle’s remarks bring to mind the trenchant comments on Ludwig von Mises. He warns against attempts to shore up disastrous policies by printing more money. Mises says, “No emergency can justify a return to inflation. Inflation can provide neither the weapons a nation needs to defend its independence nor the capital goods required for any project. It does not cure unsatisfactory conditions. It merely helps the rulers whose policies brought about the catastrophe to exculpate themselves.” He tells us where a policy of inflationism will end: “Inflation is the fiscal complement of statism and arbitrary government. It is a cog in the complex of policies and institutions which gradually lead toward totalitarianism.”
Bill Sardi emphasizes the criminal folly of US government policy. The federal government, he says. is “willing to crash the economy, kill businesses, particularly churches and restaurants that are unlikely to have the resources to re-open their establishments, and coerce people to stay indoors, a practice that will further lower vitamin D levels and result in widespread infection and death among retirees.” States and cities have rushed to follow suit. Los Angeles and San Francisco, for example, are now under drastic “shelter-in-place” orders that require “non-essential businesses” to close and forbid dining in restaurants.
To understand more fully what is happening, we need the guidance of two great thinkers, Ludwig von Mises and Murray Rothbard. They teach us a vital lesson. Civilization depends on the international division of labor. To destroy the division of labor would plunge us into chaos. Life as we know cannot survive under a system of economic autarky.
Rothbard explains this key principle in “Freedom, Inequality, Primitivism, and the Division of Labor:” No one can fully develop his powers in any direction without engaging in specialization. The primitive tribesman or peasant, bound to an endless round of different tasks in order to maintain himself, could have no time or resources available to pursue any particular interest to the full. He had no room to specialize, to develop whatever field he was best at or in which he was most interested. Two hundred years ago, Adam Smith pointed out that the developing division of labor is a key to the advance of any economy above the most primitive level. A necessary condition for any sort of developed economy, the division of labor is also requisite to the development of any sort of civilized society. The philosopher, the scientist, the builder, the merchant — none could develop these skills or functions if he had had no scope for specialization. Furthermore, no individual who does not live in a society enjoying a wide range of division of labor can possibly employ his powers to the fullest. He cannot concentrate his powers in a field or discipline and advance that discipline and his own mental faculties. Without the opportunity to specialize in whatever he can do best, no person can develop his powers to the full; no man, then, could be fully human.
While a continuing and advancing division of labor is needed for a developed economy and society, the extent of such development at any given time limits the degree of specialization that any given economy can have. There is, therefore, no room for a physicist or a computer engineer on a primitive island; these skills would be premature within the context of that existing economy. As Adam Smith put it, ‘the division of labor is limited by the extent of the market.’ Economic and social development is therefore a mutually reinforcing process: the development of the market permits a wider division of labor, which in turn enables of further extension of the market.”

Mises writes along the same lines: “The fundamental social phenomenon is the division of labor and its counterpart human cooperation. Experience teaches man that cooperative action is more efficient and productive than isolated action of self-sufficient individuals. The natural conditions determining man’s life and effort are such that the division of labor increases output per unit of labor expended.” The division of labor, Mises tells us, is the key to the development of civilization. He says, “We conceive what incentive induced people not to consider themselves simply as rivals in a struggle for the appropriation of the limited supply of means of subsistence made available by nature. We realize what has impelled them and permanently impels them to consort with one another for the sake of cooperation. Every step forward on the way to a more developed mode of the division of labor serves the interests of all participants.”
Now, governments all over the world want us to give this up. Abandoning the international division of labor will hit Africa, dependent on trade for bare survival, especially hard. To what end is the world’s carefully wrought economic system being dismantled? Does the spread of COVID-19 require us to destroy the world’s economy? Here we can learn from another outstanding thinker, Ron Paul, who is a medical doctor and can give an expert analysis of government medical propaganda. He says: “On Face the Nation, [Dr. Anthony] Fauci did his best to further damage an already tanking economy by stating, ‘Right now, personally, myself, I wouldn’t go to a restaurant.’ He has pushed for closing the entire country down for 14 days.
Over what? A virus that has thus far killed just over 5,000 worldwide and less than 100 in the United States? By contrast, tuberculosis, an old disease not much discussed these days, killed nearly 1.6 million people in 2017. Where’s the panic over this?


War On China?

Provoking war with China is an incredibly dangerous policy .
Eric S. Margolis , an experienced foreign policy expert , has noted : “ But in a US-China war , the Chinese would be fighting almost at home .
The US would have to sustain a major conflict many thousands of miles from its home ports .
America is the world ’ s genius when it comes to logistics and mass operations , but even so great distances are punishing .
It would prove a bridge too far.
” The US would be the aggressor in a war with China @ @ @ @ @ @ @ them , not to us , yet we send our ships there and insist we have a right to control what happens there .
Also , a great deal of China ’ s industry and agriculture is privately owned , so an attack on China would be an attack on private property .
Both the neocons and the nationalist “ Right ” want war with China .
We should aim at peace instead , as Murray Rothbard and Ron Paul have taught us .
If we ignore propaganda and look at the facts @ @ @ @ @ @ @ people are heroes .
It ’ s a scandal , in fact , that few Westerners are even aware , or , if they are aware , that they are not conscious , of the bloody reality that prevailed in China between the years 1949 and 1976 , the years of rule by Mao Zedong .
How many died as a result of persecutions and the communist policies of Mao ?
Perhaps you care to guess ?
Many people over the years have attempted to guess .
But they have always underestimated .
@ @ @ @ @ @ @ 1980s and 1990s , and as specialists have devoted themselves to investigations and estimates , the figures have become ever more reliable .
And yet they remain imprecise .
What kind of error term are we talking about ?
It could be as low as 40 million .
It could be as high as 100 million—or more .
In the Great Leap Forward from 1959 to 1961 alone , figures range between 20 million and 75 million .
In the period before , 20 million .
In the period after , tens of @ @ @ @ @ @ @ area of mass death point out , most of us can ’ t imagine one hundred dead or one thousand .
Above that , we are just talking about statistics : they have no conceptual meaning for us .
And there is only so much ghastly information that our brains can absorb , only so much blood we can imagine .
And yet there is more to why China ’ s communist experiment remains a hidden fact : it makes a decisive case against government power , one even more compelling than the @ @ @ @ @ @ @ twentieth century .
Finally , in 1976 , Mao died .
Within a few months , his closest advisers were all imprisoned .
And the reform began slowly at first and then gained breakneck speed .
Civil liberties were restored ( comparatively ) and the rehabilitations began .
Torturers were prosecuted .
Economic controls were gradually relaxed .
The economy , by virtue of human and private economic initiative , was transformed .
Having read the above , you are now in a tiny elite of people who know anything about the greatest @ @ @ @ @ @ @ world that China became between 1949 and 1976 , an experiment in total control unlike anything other in history .
Many more people today know more about China ’ s exploding cell phone batteries than the hundred million dead and the untold amount of suffering that occurred under communism .
When you hear complaints about the “ Chinese virus ” today , imagine millions in famine , with parents swapping children to eat in order to stay alive .
Let ’ s have peace with China , not war , and let ’ @ @ @ @ @ @ @ and wonderful Chinese people .

Provoking war with China is an incredibly dangerous policy. Eric S. Margolis, an experienced foreign policy expert, has noted: “But in a US-China war, the Chinese would be fighting almost at home. The US would have to sustain a major conflict many thousands of miles from its home ports. America is the world’s genius when it comes to logistics and mass operations, but even so great distances are punishing. It would prove a bridge too far.” The US would be the aggressor in a war with China. The South China Sea belongs to them, not to us, yet we send our ships there and insist we have a right to control what happens there. Also, a great deal of China’s industry and agriculture is privately owned, so an attack on China would be an attack on private property. Both the neocons and the nationalist “Right” want war with China. We should aim at peace instead, as Murray Rothbard and Ron Paul have taught us.
If we ignore propaganda and look at the facts, we should recognize that the Chinese people are heroes. It’s a scandal, in fact, that few Westerners are even aware, or, if they are aware, that they are not conscious, of the bloody reality that prevailed in China between the years 1949 and 1976, the years of rule by Mao Zedong.
How many died as a result of persecutions and the communist policies of Mao? Perhaps you care to guess? Many people over the years have attempted to guess. But they have always underestimated. As more data rolled in during the 1980s and 1990s, and as specialists have devoted themselves to investigations and estimates, the figures have become ever more reliable. And yet they remain imprecise. What kind of error term are we talking about? It could be as low as 40 million. It could be as high as 100 million—or more. In the Great Leap Forward from 1959 to 1961 alone, figures range between 20 million and 75 million. In the period before, 20 million. In the period after, tens of millions more.
As scholars in the area of mass death point out, most of us can’t imagine one hundred dead or one thousand. Above that, we are just talking about statistics: they have no conceptual meaning for us. And there is only so much ghastly information that our brains can absorb, only so much blood we can imagine. And yet there is more to why China’s communist experiment remains a hidden fact: it makes a decisive case against government power, one even more compelling than the cases of Russia or Germany in the twentieth century. Finally, in 1976, Mao died. Within a few months, his closest advisers were all imprisoned. And the reform began slowly at first and then gained breakneck speed. Civil liberties were restored (comparatively) and the rehabilitations began. Torturers were prosecuted. Economic controls were gradually relaxed. The economy, by virtue of human and private economic initiative, was transformed.
Having read the above, you are now in a tiny elite of people who know anything about the greatest death camp in the history of the world that China became between 1949 and 1976, an experiment in total control unlike anything other in history. Many more people today know more about China’s exploding cell phone batteries than the hundred million dead and the untold amount of suffering that occurred under communism.
When you hear complaints about the “Chinese virus” today, imagine millions in famine, with parents swapping children to eat in order to stay alive. Let’s have peace with China, not war, and let’s admire the hardworking, productive, and wonderful Chinese people.


australiannationalreview--2020-03-31--The Money-Printing Gods Have Failed

The Money-Printing Gods Have Failed

Finally even the robo-machines and day traders are puking , not BTFDing .
Today ’ s 3,000 Dow Point Dump says even they have had enough of the craven dolts who occupy the Eccles Building .
You do not need an PhD in economics—or even a night school survey course—to see that COVID-19 is temporary supply side shock which 0.05 % money market rates are powerless to combat .
Likewise , you don ’ t need to be a finance wizard to see that with 10-year USTs at 0.78 % and 30-year mortgages at their lowest level in history more @ @ @ @ @ @ @ another $ 700 billion of government and GSE debt to the Fed ’ s already hideously bloated balance sheet can ’ t possibly drive interest rates meaningfully lower , even if rates were a barrier to activity , which they are not .
In fact , the new barrage of QE5 is nothing more than a blatant financial fraud authorized by the official criminals domiciled in the Eccles Building .
Today , and for years in the past , the FOMC has been scurrying about in the dealer markets swapping counterfeit credits plucked @ @ @ @ @ @ @ bonds that funded the consumption of real economic resources such as government salaries , purchases and private housing construction .
The traditional argument for central banking , of course , was that a little bit of financial fraud ( 3 % per year balance sheet expansion per Uncle Milton Friedman , for example ) could help lubricate the banking system and nudge GDP to steadier performance over time .
But what we have now is epic-scale counterfeiting .
That is , upwards of $ 5 trillion of fiat money liabilities at the Fed @ @ @ @ @ @ @ world ’ s central banks , compared to just $ 500 billion and $ 2 trillion , respectively , at the turn of the century ; and the latter of which had taken decades , and in some cases , centuries to accumulate .
Moreover , on top of everything else in the last several days , these madmen announced in late morning today a new $ 500 billion O/N repo to be offered two hours later .
Just like that—up to one half-trillion dollars of Fake Credit was to emanate from the @ @ @ @ @ @ @ during lunch hour !
 Fortunately , only $ 19 billion got taken down , proving these economic morons and arsonists have absolutely not idea what they are doing .
So not knowing , however , they have succeeded in turning the entire financial system into a cesspool of false prices and destructive gambling rackets , thereby stripping capitalism of the honest money and capital markets its needs to function and thrive .
What lies ahead , therefore , is a no man ’ s land of statist economic and capital demolition .
@ @ @ @ @ @ @ t need to be a cynic to understand why the Eccles Building launched this limp baby bazooka last night .
The Federal Reserve now , and for many years past , has been the abject handmaid of the Wall Street gamblers , bullies and crybabies .
The Fed heads are deathly afraid of honest stock market prices ( i.e .
a crash ) because they know it will make a mockery of their risible claims that the US economy is in a “ good place ” or that the consumer is “ strong @ @ @ @ @ @ @ hallowed state of Keynesian full employment , world without end .
In truth , decades of Keynesian central banking have sucked the lifeblood out of main street prosperity , stability and resilience .
It has destroyed savers ; addicted households to debt-based hand-to-mouth living ; eviscerated the purchasing power of wages via its 2.00 % inflation obsession ; and turned the C-suites of corporate America into stock trading rooms and financial engineering joints in the service of Wall Street speculators , not the construction of resilient , value-creating enterprises .
But now the @ @ @ @ @ @ @ the Fed ’ s ( and Wall Street ’ s ) phony narrative about the alleged strength of the main street economy— especially the purported Energizer Bunny of household consumption .
After all , just consider the implications of Nancy Pelosi ’ s Friday Night Abomination—a mass scale soup line of Washington-ordered handouts that is every bit as insidious as the TARP bailout of September 2008 .
That is , anyone on Wall Street back then who was illiquid , deserved to be liquidated ; and anyone on main street today who has @ @ @ @ @ @ @ aside at least two weeks of rainy day funds—which is the amount of sick leave Nancy ordered businesses to pay— might profit from spending 14 days begging , borrowing and scrounging for canned soup .
So let ’ s be very clear .
This isn ’ t about humanitarian necessity or safety net minimums .
There are upwards of 110 million American now receiving welfare , food stamps , Medicaid , subsidized housing etc .
and not a dime of it that aid—deserved or not—is imperiled by COVID-19 .
For crying out loud @ @ @ @ @ @ @ covers just 80 hours of work for the minority of American workers who are employed by firms with less than 500 employees and ( apparently after the allowed DOL waivers ) more than 50 .
So consider the median wage earner , who doesn ’ t work for a Small Business ( < 50 workers ) or a Big Business ( > 500 workers ) , but got their economic porridge just right , thereby qualifying for Nancy ’ s bequest .
According to the Social Security Administration , there were 167 million @ @ @ @ @ @ @ record in the most recent year ( 2018 ) .
Among them , there were 9.29 million workers right around the median wage who generated $ 330 billion of gross pay or an average of $ 32,450 each .
That is to say , two weeks ’ pay amounted to the grand sum of $ 1,250 .
Yet these cats down in the Imperial City insist these workers positively can ’ t get by for even 14 days by drawing down savings , belt-tightening and selling some excess junk on e-Bay if they @ @ @ @ @ @ @ as the case may be .
We doubt whether that ’ s strictly accurate , but are quite sure that Federally mandating employers to provide sick leave—and then paying for it on the other side with a tax credit handout— is just another fatal step down the slippery slope of socialization of economic life that will eventually bankrupt the US Treasury .
The fact is , the entire Keynesian policy regime of the present era encourages households , businesses and governments alike to borrow to the hilt and spend every dollar of income @ @ @ @ @ @ @ left all economic sectors vulnerable , fragile and , in the metaphor of the day , defenseless against even the short-term dislocations generating by public health measures to contain a strain of flu which is highly contagious but not even remotely a Black Plague scale phenomena .
Indeed , the chart below puts the lie to the “ strong ” consumer canard .
The second set of bars covers households right in the middle of the wage distribution cited above , with annual incomes between $ 25,000 and $ 45,000 .
At each @ @ @ @ @ @ @ actually have savings accounts according to the most recent survey of the Federal Reserve , meaning that even the dark green bars representing median amounts significantly over-state the case .
Accordingly , at best the median wage earning household has cash savings of just $ 1,400 .
Yet that is not evidence that households are inherently irresponsible spendthrifts ; it ’ s merely the consequence of central banking policies that positively punish savers and encourage them to shop until they drop .

By David Stockman
Hooray!
Finally even the robo-machines and day traders are puking, not BTFDing. Today’s 3,000 Dow Point Dump says even they have had enough of the craven dolts who occupy the Eccles Building.
You do not need an PhD in economics—or even a night school survey course—to see that COVID-19 is temporary supply side shock which 0.05% money market rates are powerless to combat.
Likewise, you don’t need to be a finance wizard to see that with 10-year USTs at 0.78% and 30-year mortgages at their lowest level in history more QE is a sick joke. Adding another $700 billion of government and GSE debt to the Fed’s already hideously bloated balance sheet can’t possibly drive interest rates meaningfully lower, even if rates were a barrier to activity, which they are not.
In fact, the new barrage of QE5 is nothing more than a blatant financial fraud authorized by the official criminals domiciled in the Eccles Building. Today, and for years in the past, the FOMC has been scurrying about in the dealer markets swapping counterfeit credits plucked from thin air for Treasury and GSE bonds that funded the consumption of real economic resources such as government salaries, purchases and private housing construction.
The traditional argument for central banking, of course, was that a little bit of financial fraud (3% per year balance sheet expansion per Uncle Milton Friedman, for example) could help lubricate the banking system and nudge GDP to steadier performance over time.
But what we have now is epic-scale counterfeiting. That is, upwards of $5 trillion of fiat money liabilities at the Fed and $25 trillion at all the world’s central banks, compared to just $500 billion and $2 trillion, respectively, at the turn of the century; and the latter of which had taken decades, and in some cases, centuries to accumulate.
Moreover, on top of everything else in the last several days, these madmen announced in late morning today a new $500 billion O/N repo to be offered two hours later. Just like that—up to one half-trillion dollars of Fake Credit was to emanate from the Fed’s “buy” key during lunch hour!

Fortunately, only $19 billion got taken down, proving these economic morons and arsonists have absolutely not idea what they are doing.
So not knowing, however, they have succeeded in turning the entire financial system into a cesspool of false prices and destructive gambling rackets, thereby stripping
capitalism of the honest money and capital markets its needs to function and thrive. What lies ahead, therefore, is a no man’s land of statist economic and capital demolition.
Needless to say, you don’t need to be a cynic to understand why the Eccles Building launched this limp baby bazooka last night. The Federal Reserve now, and for many years past, has been the abject handmaid of the Wall Street gamblers, bullies and crybabies.
The Fed heads are deathly afraid of honest stock market prices (i.e. a crash) because they know it will make a mockery of their risible claims that the US economy is in a “good place” or that the consumer is “strong” and that they have delivered the hallowed state of Keynesian full employment, world without end.
In truth, decades of Keynesian central banking have sucked the lifeblood out of main street prosperity, stability and resilience. It has destroyed savers; addicted households to debt-based hand-to-mouth living; eviscerated the purchasing power of wages via its 2.00% inflation obsession; and turned the C-suites of corporate America into stock trading rooms and financial engineering joints in the service of Wall Street speculators, not the construction of resilient, value-creating enterprises.
But now the mask of self-serving rhetoric is being ripped-off the Fed’s (and Wall Street’s) phony narrative about the alleged strength of the main street economy— especially the purported Energizer Bunny of household consumption.
After all, just consider the implications of Nancy Pelosi’s Friday Night Abomination—a mass scale soup line of Washington-ordered handouts that is every bit as insidious as the TARP bailout of September 2008.
That is, anyone on Wall Street back then who was illiquid, deserved to be liquidated; and anyone on main street today who has not had enough common sense to put aside at least two weeks of rainy day funds—which is the amount of sick leave Nancy ordered businesses to pay— might profit from spending 14 days begging, borrowing and scrounging for canned soup.
So let’s be very clear. This isn’t about humanitarian necessity or safety net minimums. There are upwards of 110 million American now receiving welfare, food stamps, Medicaid, subsidized housing etc. and not a dime of it that aid—deserved or not—is imperiled by COVID-19.
For crying out loud, Pelosi’s mandated sick pay covers just 80 hours of work for the minority of American workers who are employed by firms with less than 500 employees and (apparently after the allowed DOL waivers) more than 50.
So consider the median wage earner, who doesn’t work for a Small Business (< 50 workers) or a Big Business (> 500 workers), but got their economic porridge just right, thereby qualifying for Nancy’s bequest.
According to the Social Security Administration, there were 167 million US persons who generated a payroll tax record in the most recent year (2018). Among them, there were 9.29 million workers right around the median wage who generated $330 billion of gross pay or an average of $32,450 each.
That is to say, two weeks’ pay amounted to the grand sum of $1,250. Yet these cats down in the Imperial City insist these workers positively can’t get by for even 14 days by drawing down savings, belt-tightening and selling some excess junk on e-Bay if they get the COVID-19 or the quarantine, as the case may be.
We doubt whether that’s strictly accurate, but are quite sure that Federally mandating employers to provide sick leave—and then paying for it on the other side with a tax credit handout— is just another fatal step down the slippery slope of socialization of economic life that will eventually bankrupt the US Treasury.
The fact is, the entire Keynesian policy regime of the present era encourages households, businesses and governments alike to borrow to the hilt and spend every dollar of income in hand-to-mouth fashion. It has therefore left all economic sectors vulnerable, fragile and, in the metaphor of the day, defenseless against even the short-term dislocations generating by public health measures to contain a strain of flu which is highly contagious but not even remotely a Black Plague scale phenomena.
Indeed, the chart below puts the lie to the “strong” consumer canard. The second set of bars covers households right in the middle of the wage distribution cited above, with annual incomes between $25,000 and $45,000.
At each income interval the bars cover households which actually have savings accounts according to the most recent survey of the Federal Reserve, meaning that even the dark green bars representing median amounts significantly over-state the case.
Accordingly, at best the median wage earning household has cash savings of just $1,400. Yet that is not evidence that households are inherently irresponsible spendthrifts; it’s merely the consequence of central banking policies that positively punish savers and encourage them to shop until they drop.


australiannationalreview--2020-03-30--Eternal Vigilance Is The Price of Liberty

The words in the title are attributed to Thomas Jefferson .
Whether or not they came from him first is immaterial .
The truth in the words are the concern here .
The meaning of the word ‘ eternal ’ means ‘ lasting forever , ’ and ‘ vigilant ’ means to ‘ always be on careful watch for danger.
’ The danger to Liberty has always been , and always will be , power .
Both Liberty and power pertain to relations between individual human beings .
Liberty means non-aggression and voluntary interaction between individuals .
Power means non-voluntary @ @ @ @ @ @ @ .
So every individual must forever keep a watchful eye on power in order to enjoy their natural Liberty .
All gardeners must keep a watchful eye on their gardens for weeds .
If their guard is let down , the garden will be attacked by the weeds .
So must all individuals keep a watchful eye on power .
If their guard is let down , power will attack their Liberty .
All gardens will be attacked .
All Liberty will be attacked .
There are always individuals in every society who @ @ @ @ @ @ @ dominandi , which means the ‘ lust to dominate ’ other human beings .
This error is the most destructive error that humans can make in their lives .
For once embraced , it is insatiable , unquenchable , and never-ending .
It is rightfully considered a crime when individuals use aggressive force against others .
Violence and fraud are rightfully prosecuted and punished .
But major problems arise when individuals enter a group of people called government and make it legal to use aggressive force against others .
Once this legalization is @ @ @ @ @ @ @ .
Those who have a lust to dominate others pour into government like moths to a flame .
They now have an opportunity to legally do what is rightfully illegal for the rest of society .
But since government positions are limited , and so many with a lust to rule want to fill those positions , they will do the most vicious things imaginable in order to “ win.
” That ’ s why there are no morals , rules , or ethics for those who want it most .
Since grabbing @ @ @ @ @ @ @ , it gives a preview to the population as to what is in store for them .
For the power that will be directed , will ultimately be directed straight at them .
For those who finally grab the power , it ’ s time to live out their very unfortunate dream ; unfortunate for themselves , for they are destroying their own individual humanity , and unfortunate for the rest of humanity that they set out to dominate .
The tactics of power are always the same .
They never change .
@ @ @ @ @ @ @ , and not all at once .
People do not give up their Liberty all at once , and those in power understand that they must cope with this fact .
When power is increased , it ’ s always done in a state of fear .
Fear disarms the population .
When people are confident and unshakable , they will not give up their Liberty .
Those in power understand this as well , and over the thousands of years have mastered the process of generating and propagating fear .
Lies and @ @ @ @ @ @ @ .
They both carry equal weight .
Whichever gets the job done .
In normal life , truth is good and lies are bad .
Not so for power .
Once disarmed by fear and in a panic , a door is opened wide for the power grab .
It has to be grabbed very quickly .
There ’ s only a small window of opportunity to capitalize on .
Government bills that are thousands of pages long , and prepared well before the crisis , are voted through without being read or @ @ @ @ @ @ @ going on is shouted down as unpatriotic or actually supportive of the crisis .
As the power is grabbed , the population is gently caressed , and told that it is ‘ temporary , ’ and an ’ emergency measure ’ only .
But there is nothing more permanent in government than a temporary measure .
The panic always subsides , but the power remains .
After the panic subsides , the population is given time to acclimate to the new constraints and dictates .
It becomes normal .
New generations are born @ @ @ @ @ @ @ how it is and always has been.
’ The previous Liberty that was enjoyed by prior generations don ’ t even cross their minds .
It ’ s as if they never existed .
But it is not everlasting .
It always ends , and ends badly for everyone .
All power exhausts itself and paints itself into a corner .
It works so hard trying to get into control of everything , only to find out that in the end , it can ’ t control anything !
All power reaches the @ @ @ @ @ @ @ , and every idea they have only makes things worse , and every move is met with failure .
This is a world of individual liberty , not of power .
If it were a world of power , it would not be here today .
The world would have been destroyed long ago , or would have never have come into existence in the first place .
Life is Liberty and eternal vigilance is the price of keeping it .

By Chris Rossini
The words in the title are attributed to Thomas Jefferson. Whether or not they came from him first is immaterial. The truth in the words are the concern here. The meaning of the word ‘eternal’ means ‘lasting forever,’ and ‘vigilant’ means to ‘always be on careful watch for danger.’
The danger to Liberty has always been, and always will be, power.
Both Liberty and power pertain to relations between individual human beings. Liberty means non-aggression and voluntary interaction between individuals. Power means non-voluntary interactions, force, coercion and violence.
So every individual must forever keep a watchful eye on power in order to enjoy their natural Liberty.
To use a simple analogy:
All gardeners must keep a watchful eye on their gardens for weeds. If their guard is let down, the garden will be attacked by the weeds.
So must all individuals keep a watchful eye on power. If their guard is let down, power will attack their Liberty.
All gardens will be attacked.
All Liberty will be attacked.
That’s Life.
There are always individuals in every society who succumb to what St. Augustine called libido dominandi, which means the ‘lust to dominate’ other human beings. This error is the most destructive error that humans can make in their lives. For once embraced, it is insatiable, unquenchable, and never-ending.
It is rightfully considered a crime when individuals use aggressive force against others. Violence and fraud are rightfully prosecuted and punished.
But major problems arise when individuals enter a group of people called government and make it legal to use aggressive force against others.
Once this legalization is permitted, an immediate magnet is created. Those who have a lust to dominate others pour into government like moths to a flame. They now have an opportunity to legally do what is rightfully illegal for the rest of society.
But since government positions are limited, and so many with a lust to rule want to fill those positions, they will do the most vicious things imaginable in order to “win.” That’s why there are no morals, rules, or ethics for those who want it most.
Since grabbing the reins of power requires absolute ruthlessness, it gives a preview to the population as to what is in store for them. For the power that will be directed, will ultimately be directed straight at them.
For those who finally grab the power, it’s time to live out their very unfortunate dream; unfortunate for themselves, for they are destroying their own individual humanity, and unfortunate for the rest of humanity that they set out to dominate.
The tactics of power are always the same. They never change.
All increases of power occur in steps, and not all at once. People do not give up their Liberty all at once, and those in power understand that they must cope with this fact.
When power is increased, it’s always done in a state of fear. Fear disarms the population. When people are confident and unshakable, they will not give up their Liberty. Those in power understand this as well, and over the thousands of years have mastered the process of generating and propagating fear.
Lies and truth are interchangeable for those in power. They both carry equal weight. Whichever gets the job done. In normal life, truth is good and lies are bad. Not so for power.
Once disarmed by fear and in a panic, a door is opened wide for the power grab. It has to be grabbed very quickly. There’s only a small window of opportunity to capitalize on.
Government bills that are thousands of pages long, and prepared well before the crisis, are voted through without being read or debated. Anyone who questions what is going on is shouted down as unpatriotic or actually supportive of the crisis.
As the power is grabbed, the population is gently caressed, and told that it is ‘temporary,’ and an ’emergency measure’ only. But there is nothing more permanent in government than a temporary measure.
The panic always subsides, but the power remains.
After the panic subsides, the population is given time to acclimate to the new constraints and dictates. It becomes normal.
New generations are born and they believe that ‘this is how it is and always has been.’ The previous Liberty that was enjoyed by prior generations don’t even cross their minds. It’s as if they never existed.
Step by step…this process repeats.
But it is not everlasting. It always ends, and ends badly for everyone.
All power exhausts itself and paints itself into a corner. It works so hard trying to get into control of everything, only to find out that in the end, it can’t control anything!
All power reaches the point where everything they think is wrong, and every idea they have only makes things worse, and every move is met with failure.
This is a world of individual liberty, not of power. If it were a world of power, it would not be here today. The world would have been destroyed long ago, or would have never have come into existence in the first place.
Life is Liberty and eternal vigilance is the price of keeping it.


australiannationalreview--2020-03-30--Price Controls Have No Place in Health Care

As Congress continues passing trillions of dollars in spending bills aimed at addressing COVID-19 , they should avoid harming those on the front lines : health care providers .
Health care providers are working hard , sometimes at personal risk , to treat those affected with the virus .
Their job is made harder by the hysteria whipped up by politicians and the media .
This makes people flock to emergency rooms and doctors ’ offices .
And , this comes on top of the challenge already facing the medical profession as a result of federal laws like ObamaCare , @ @ @ @ @ @ @ beds in certain areas .
Incredibly , a bipartisan group of U.S .
Representatives and Senators think the government is not putting enough burdens on health care professionals .
These legislators are scheming to insert a provision placing new price controls on health care practitioners in the COVID-19 spending bill .
The price controls are a response to “ surprise medical billing.
” This is the all-to-common situation where a patient receives a large medical bill , sometimes months after treatment , because one or more of the providers on their medical team @ @ @ @ @ @ @ services are not covered by the patient ’ s insurance .
Surprise medical bills are a consequence of government policies that have created over reliance on third-party payers .
By removing control of the health care dollar from patients , these government policies eliminated all incentives for patients to minimize costs .
This led to the growth of the Health Maintenance Organizations ( HMOs ) .
One way HMOs control costs is by only paying for procedures done by a member of their ( increasingly ) narrow networks .
Surprise medical bills are @ @ @ @ @ @ @ is to restore free-market health care .
Sadly , but not surprisingly , few , if any , in Washington are working to include free-market health care reforms in the COVID-19 legislation .
Instead , most of the legislators working on the issue support giving government power to dictate how much “ our-of-network ” providers should be paid .
Like all price controls , these schemes will reduce supply as the low payments drive providers to refuse to see patients unless they are among the select few in that patient ’ s “ @ @ @ @ @ @ @ These price controls may even cause some providers to leave the medical profession altogether .
These provisions could make it harder for those with COVID-19 to obtain care .
At this writing , it appears that the third COVID-19 bill might contain these price controls .
This price control scheme is backed by some of the most influential U.S .
Senators and Representatives in Congress .
It is also being pushed by the insurance industry , which loves the idea of government “ forcing ” it to underpay out-if-network providers almost as much @ @ @ @ @ @ @ mandating every American buy their product .
 Those of us who understand that trying to solve the problem to surprise medical bills with price controls is a cure worse than the disease must remain vigilant against any attempt to expand government ’ s role in health care .
We must also work to enact policies giving patients control of the health care dollar through tax credits , deductions , and expanded Health Savings Accounts ( HSA ) .
The cure for what ails our health care system is the same as for @ @ @ @ @ @ @

By Ron Paul
As Congress continues passing trillions of dollars in spending bills aimed at addressing COVID-19, they should avoid harming those on the front lines: health care providers.
Health care providers are working hard, sometimes at personal risk, to treat those affected with the virus. Their job is made harder by the hysteria whipped up by politicians and the media. This makes people flock to emergency rooms and doctors’ offices. And, this comes on top of the challenge already facing the medical profession as a result of federal laws like ObamaCare, and rules limiting the number of hospital beds in certain areas.
Incredibly, a bipartisan group of U.S. Representatives and Senators think the government is not putting enough burdens on health care professionals. These legislators are scheming to insert a provision placing new price controls on health care practitioners in the COVID-19 spending bill.
The price controls are a response to “surprise medical billing.” This is the all-to-common situation where a patient receives a large medical bill, sometimes months after treatment, because one or more of the providers on their medical team were “out-of-network” so that providers services are not covered by the patient’s insurance.
Surprise medical bills are a consequence of government policies that have created over reliance on third-party payers. By removing control of the health care dollar from patients, these government policies eliminated all incentives for patients to minimize costs. This led to the growth of the Health Maintenance Organizations (HMOs). One way HMOs control costs is by only paying for procedures done by a member of their (increasingly) narrow networks.
Surprise medical bills are a legitimate problem, but the solution is to restore free-market health care. Sadly, but not surprisingly, few, if any, in Washington are working to include free-market health care reforms in the COVID-19 legislation. Instead, most of the legislators working on the issue support giving government power to dictate how much “our-of-network” providers should be paid.
Like all price controls, these schemes will reduce supply as the low payments drive providers to refuse to see patients unless they are among the select few in that patient’s “narrow network” of allowed providers. These price controls may even cause some providers to leave the medical profession altogether.
These provisions could make it harder for those with COVID-19 to obtain care.
At this writing, it appears that the third COVID-19 bill might contain these price controls. This price control scheme is backed by some of the most influential U.S. Senators and Representatives in Congress. It is also being pushed by the insurance industry, which loves the idea of government “forcing” it to underpay out-if-network providers almost as much as it loved the idea of government mandating every American buy their product.

Those of us who understand that trying to solve the problem to surprise medical bills with price controls is a cure worse than the disease must remain vigilant against any attempt to expand government’s role in health care. We must also work to enact policies giving patients control of the health care dollar through tax credits, deductions, and expanded Health Savings Accounts (HSA). The cure for what ails our health care system is the same as for all our economic problems: liberty.


australiannationalreview--2020-05-04--Who are the main vaccine refusers and how to tackle them – Former CDC expert

On May 9 , 2016 , in Atlanta , Georgia , the National Meningitis Association ( www.nmaus.org ) hosted a panel discussion , “ Achieving Childhood Vaccine Success in the U.S. , ” before its “ Give Kids a Shot ” Gala .
The panel addressed a range of issues including parents who opt out of childhood vaccine requirements , physicians who stray from the recommended vaccine schedule , and the role of the media in creating or removing barriers to vaccination .
The panelists were ( from left to right ) : At the 53:58 mark , Dr. Baker @ @ @ @ @ @ @ battle is being fought — one family , one physician , one health center .
That ’ s why we ’ re doing as well as we are .
We ’ re talking about the minority [ of vaccine refusers ] , and strategies against the minority .
So I have the solution : Every study published in the last five years , you look at vaccine refusers , I ’ m not talking about people we can talk them into coming to terms , but refusers .
( 54:28 mark ) Let @ @ @ @ @ @ @ the whites in the United States , because Houston is the most diverse city in the entire United States .
There are seven Asian languages spoken in that city .
I ’ ve been in the [ racial ] minority for more than 20 years in the city of Houston .
The majority of them are what we all ‘ Hispanics ’ — it ’ s not a race or an ethnicity , it ’ s a political designation .
A lot of them are from Central or South America , Mexico .
@ @ @ @ @ @ @ most in Houston ?
Immigrants !
It is the ‘ well educated ’ — in terms of pieces of paper and the paper on the wall — [ who are the vaccine refusers ] , people that have been here for a long time , and it ’ s very unfortunate and .
But I think we need not lose the big picture .
The big picture is there are physicians out there — family practitioners , pediatricians , internists — talking one on one with either the older child — I don @ @ @ @ @ @ @ being a child .
For me , I was 30 , I wrote my mother and said ‘ Hey , I ’ m a grown-up ’ .
They ’ d already given me an M.D .
degree by then , so it ’ s a good thing I was grown up .
I think that we need to do things as an articulate media-trained group to encourage that conversation , and encourage our health care system to value what vaccines do .
Give people enough time to talk to individual families .
Most @ @ @ @ @ @ @ right , someone said it earlier , some families are having ‘ pre-natal visits ’ .
That ’ s the time to talk about vaccines .
This war is fought one on one , with individual families .
We need to support those policies that give health care providers , nurses , I mean nurses are really really important , they ’ re the ones who are probably giving the shots , and if they ’ re not on board with accepting vaccines , then do you think they ’ re gon na @ @ @ @ @ @ @ ?
You have to have your whole [ health care ] practice situation on board .
”

by Silviu “Silview” Costinescu
On May 9, 2016, in Atlanta, Georgia, the National Meningitis Association (www.nmaus.org) hosted a panel discussion, “Achieving Childhood Vaccine Success in the U.S.,” before its “Give Kids a Shot” Gala. The panel addressed a range of issues including parents who opt out of childhood vaccine requirements, physicians who stray from the recommended vaccine schedule, and the role of the media in creating or removing barriers to vaccination.
The panelists were (from left to right):
At the 53:58 mark, Dr. Baker says:
“The fight, the battle is being fought — one family, one physician, one health center. That’s why we’re doing as well as we are.
We’re talking about the minority [of vaccine refusers], and strategies against the minority. So I have the solution: Every study published in the last five years, you look at vaccine refusers, I’m not talking about people we can talk them into coming to terms, but refusers. (54:28 mark) Let’s just get rid of all the whites in the United States, because Houston is the most diverse city in the entire United States. There are seven Asian languages spoken in that city. I’ve been in the [racial] minority for more than 20 years in the city of Houston. The majority of them are what we all ‘Hispanics’ — it’s not a race or an ethnicity, it’s a political designation. A lot of them are from Central or South America, Mexico. Guess who wants to get vaccinated the most in Houston? Immigrants! It is the ‘well educated’ — in terms of pieces of paper and the paper on the wall — [who are the vaccine refusers], people that have been here for a long time, and it’s very unfortunate and.
But I think we need not lose the big picture. The big picture is there are physicians out there — family practitioners, pediatricians, internists — talking one on one with either the older child — I don’t know when a child stops being a child. For me, I was 30, I wrote my mother and said ‘Hey, I’m a grown-up’. They’d already given me an M.D. degree by then, so it’s a good thing I was grown up.
I think that we need to do things as an articulate media-trained group to encourage that conversation, and encourage our health care system to value what vaccines do. Give people enough time to talk to individual families. Most hesitant people, it’s absolutely right, someone said it earlier, some families are having ‘pre-natal visits’. That’s the time to talk about vaccines. This war is fought one on one, with individual families. We need to support those policies that give health care providers, nurses, I mean nurses are really really important, they’re the ones who are probably giving the shots, and if they’re not on board with accepting vaccines, then do you think they’re gonna be supportive of you recommending a vaccine? You have to have your whole [health care] practice situation on board.”


australiannationalreview--2020-05-04--Apple Data Shows Shelter-In-Place Is Ending, Whether Governments Want It To Or Not

Apple ’ s Mobility Trends report shows that traffic in the US and other countries like Germany has pretty much doubled in the past three weeks .
It had been down up to 72 % .
And location data provider Foursquare says that gas and fast food visits are back to pre-COVID-19 levels in the American Midwest .
Rural areas are following the same pattern .
“ Gas station traffic has returned to pre-COVID-19 levels in the Midwest , and in rural areas throughout the country , ” Foursquare said yesterday in a blog post .
“ Foot traffic to @ @ @ @ @ @ @ risen over the past several weeks.
” Whether governments , medical professionals , and scientists want it to or not , people seem tired of the shutdown and eager to get back to some semblance of normal life .
Another sign of the impending return to normal ?
Grocery store visits are down to normal levels , after being 30-40 % higher than normal in late March as people tried to stock up for a long shutdown .
While the Apple data is measured by people searching Apple Maps for directions , the @ @ @ @ @ @ @ visiting locations .
13 million Americans have granted the company permission to capture their data and use it in privacy-safe ways .
While more people are going more places , it hasn ’ t impacted a number of hard-hit industries just yet .
: Nail salons , on the other hand , are “ only ” down 38-42 % , and hotels in the Midwest are down just 49 % , compared to a 63-70 % decline in other regions .
Interestingly , as Apple ’ s data from Canada shows , while @ @ @ @ @ @ @ to normal levels , people are avoiding transit , which is still down 79 % from pre-Coronavirus levels .
Driving by yourself is safe , apparently , but sitting in a bus or on a train with hundreds of others is not .
“ People are feeling the itch to get back to the real world , ” Foursquare says .
“ As officials begin the process of relaxing some business restrictions , we ’ re starting to see upticks in foot traffic to various places .
This is true across regions , @ @ @ @ @ @ @ seem to have started to level off in the US , but there are still 1.1 million total cases , with 65,034 deaths .
There are currently almost 900,000 active cases .
The question is : as states start to open up , and as people start to decide they ’ re done with quarantine and shelter-in-place policies , will that go up ?
MORE FROM FORBESReddit , Facebook , Twitter Worst For Mental Health Post-Coronavirus ; YouTube BestMost likely yes , unless we adopt measures that countries like Taiwan have perfected : @ @ @ @ @ @ @ tracing of the infected .
That ’ s enabled Taiwan to limit the spread of Coronavirus and save lives .
Without them , an attempt to reach herd immunity could result in many more deaths .

John Koetsier is a journalist, analyst, author, and speaker.
Bye-bye shelter-in-place. Hello re-opening.
Apple’s Mobility Trends report shows that traffic in the US and other countries like Germany has pretty much doubled in the past three weeks. It had been down up to 72%. And location data provider Foursquare says that gas and fast food visits are back to pre-COVID-19 levels in the American Midwest.
Screenshot of Apple’s mapping data showing a resurgence in traffic JOHN KOETSIER
Rural areas are following the same pattern.
“Gas station traffic has returned to pre-COVID-19 levels in the Midwest, and in rural areas throughout the country,” Foursquare said yesterday in a blog post. “Foot traffic to quick service restaurants (QSRs) has risen over the past several weeks.”
Whether governments, medical professionals, and scientists want it to or not, people seem tired of the shutdown and eager to get back to some semblance of normal life.
Another sign of the impending return to normal?
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Grocery store visits are down to normal levels, after being 30-40% higher than normal in late March as people tried to stock up for a long shutdown.
Grocery store visits are returning to normal FOURSQUARE
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While the Apple data is measured by people searching Apple Maps for directions, the Foursquare data is captured by people actually visiting locations. 13 million Americans have granted the company permission to capture their data and use it in privacy-safe ways.
While more people are going more places, it hasn’t impacted a number of hard-hit industries just yet.:
Gyms : still down 65-69%
: still down 65-69% Clothing stores : still down 72%
: still down 72% Furniture stores : still down 56-60%
: still down 56-60% Movie theaters: still down 75%
Nail salons, on the other hand, are “only” down 38-42%, and hotels in the Midwest are down just 49%, compared to a 63-70% decline in other regions.
Interestingly, as Apple’s data from Canada shows, while driving and walking are edging back up to normal levels, people are avoiding transit, which is still down 79% from pre-Coronavirus levels. Driving by yourself is safe, apparently, but sitting in a bus or on a train with hundreds of others is not.
Apple Maps routing directions data for Canada JOHN KOETSIER
“People are feeling the itch to get back to the real world,” Foursquare says. “As officials begin the process of relaxing some business restrictions, we’re starting to see upticks in foot traffic to various places. This is true across regions, regardless of state-specific policies.”
New cases of COVID-19 by day in the US, according to Coronavirus.app. JOHN KOETSIER
COVID-19 cases seem to have started to level off in the US, but there are still 1.1 million total cases, with 65,034 deaths. There are currently almost 900,000 active cases. The question is: as states start to open up, and as people start to decide they’re done with quarantine and shelter-in-place policies, will that go up?
MORE FROM FORBESReddit, Facebook, Twitter Worst For Mental Health Post-Coronavirus; YouTube BestMost likely yes, unless we adopt measures that countries like Taiwan have perfected: masks, social distancing, and contact tracing of the infected. That’s enabled Taiwan to limit the spread of Coronavirus and save lives.
Without them, an attempt to reach herd immunity could result in many more deaths.


australiannationalreview--2020-05-03--Australia’s coronavirus tracing app’s data storage contract goes offshore to Amazon

Government insiders and technology industry players have raised alarms about the Federal Government ’ s new COVID-19 tracing app , after a contract for its data storage went offshore to US retail and technology giant Amazon .
Bureaucrats inside the Government ’ s Digital Transformation Agency voiced concerns about the awarding of the contract to an overseas provider when several wholly Australian-owned cloud storage services had been security vetted for precisely such high-level contracts .
The ABC has also confirmed the tender was a limited , invitation-only opportunity initially run by the Department of Home Affairs , which is principally @ @ @ @ @ @ @ .
Issuing the contract to Amazon may also mean the Australian data is obtainable by US law enforcement under a 2018 law that allows them to obtain information held by US-registered data companies no matter where in the world that information is held .
However , today the Prime Minister and a spokesman for Government Services Minister Stuart Robert rejected suggestions the US law would apply to the tracing app data .
Amazon , incorporated in Seattle , is one of the world ’ s largest companies .
Last year it reported earnings @ @ @ @ @ @ @ Home Affairs declined to answer specific questions about the tender process .
A spokesman for the department said : “ The department ’ s role in the development of a contact tracing capability has been one of support to enable access to the capacity of staff with relevant technical and delivery skills to progress this work on behalf of the Department of Health and the Digital Transformation Agency.
” Responsibility for the tracing app has since been moved to the Digital Transformation Agency , which comes within the portfolio of Government Services Minister @ @ @ @ @ @ @ Robert said the Minister had confidence in the management of the tracing app data , which he said was a “ contact ” app and still in development .
Asked for Mr Robert ’ s view of the decision of Home Affairs to run a limited , invitation-only tender , his spokesman said : “ We can not comment on a procurement process led by another department.
” ABC News can also reveal the Government has plans to store the decryption keys for the data in the same cloud as the data itself @ @ @ @ @ @ @ industry for such a sensitive cache of public information .
Mr Robert ’ s spokesman said the practice was acceptable .
“ Database keys will be managed through Amazon Web Services ’ Key Management System ( KMS ) , a widely used security service that has been previously assessed by the ACSC , ” the spokesman said .
ACSC refers to the Australian Cyber Security Centre , part of the Australian Signals Directorate , the country ’ s electronic spy agency which is responsible for government cyber security .
The app is designed @ @ @ @ @ @ @ positive person has met while infected , speeding up the contact tracing process .
Relying on Bluetooth technology , the app will identify other phones using the app that have been within a 1.5 metre range for at least 15 minutes .
The app logs and encrypts that contact on the phone .
Later , if a person using the app tests positive to COVID-19 , they would be asked to download their encrypted contact log and send it to the Government , which will store it in the Amazon cloud .
State @ @ @ @ @ @ @ able to access the cloud , decrypt the data and contact those who were in close proximity to the COVID-positive person .
The tracing app has been sold by Prime Minister Scott Morrison as an important part of easing restrictions in Australia , but it has also been met with concerns regarding how information will be used and stored .
The revelation that this information is to be held by Amazon ’ s cloud service — Amazon Web Services ( AWS ) , the world ’ s largest cloud service , which operates @ @ @ @ @ @ @ concern .
AWS is subject to a raft of invasive US national security legislation , including the CLOUD Act , a 2018 law compelling US-based technology companies to provide data to federal law enforcement under warrant , regardless of whether the data is held in the US or overseas .
However , a spokesman for Mr Robert said the US CLOUD Act did not apply to Australian data .
“ Keeping Australian data in Australia will be guaranteed through a determination through the Biosecurity Act and legislation , ” he said .
“ @ @ @ @ @ @ @ transfer data to any country other than Australia .
A penalty of imprisonment for five years and/or 300 penalty units ( $ 63,000 ) could apply to breaches of the direction .
“ This is exactly the same way the Australian Government already uses AWS for many other agencies , including the work of our intelligence agencies , including ASD , and ensures Australian data stays in Australia.
” The Prime Minister said in a press conference today that only health workers undertaking contact tracing would legally be able to access the personal @ @ @ @ @ @ @ server is in Australia and it ’ s using AWS , who work with Australia on many , many sensitive issues , ” he said .
“ It is illegal — it will be illegal for information to go out of that data store to any other person other than that for whom the whole thing is designed.
” Among those raising concerns about the Amazon deal is cyber security not-for-profit , AustCyber .
AustCyber ’ s chief executive , Michelle Price , said the exclusion of Australian-owned providers for the service was @ @ @ @ @ @ @ know why they were not alerted to it , ” Ms Price said .
Among the local providers who were overlooked for the contract are AUCloud , Macquarie Telecom , Sliced Tech and Vault .
The Government has previously security vetted two giant US corporations to provide secure cloud storage — Microsoft and Amazon .
Since September 2013 , the Commonwealth Government has published contracts with AWS worth more than $ 116 million .
The departments of health , defence and agriculture have all issued cloud storage contracts to AWS , as has @ @ @ @ @ @ @ last year the Digital Transformation Agency published details of a $ 55 million contract with AWS for a “ whole of government agreement ” which runs until April 2022 .
Ms Price said she and others had also advised the Government that its current plan — to store the encryption keys in the same cloud as the data itself — posed an unnecessary security risk .
“ The other thing we can do as best practice is to ensure , because the data is appropriately going to be encrypted , the encryption keys @ @ @ @ @ @ @ ” she said .
She hoped the Government would change tack .
“ It ’ s my understanding that off the back of us and others asking the question about whether the keys will be stored in the same cloud , and pointed it out that best standard is to hold them separately , that ’ s being actively worked on , ” she said .
“ And it ’ s my recommendation those keys be held in a sovereign cloud.
” Asked whether she would still use the app even if the @ @ @ @ @ @ @ said : “ In this instance , yes I would because it ’ s about saving lives and getting Australians back in the classroom and back to work .
“ In a different context I would think twice about it .
”

Government insiders and technology industry players have raised alarms about the Federal Government’s new COVID-19 tracing app, after a contract for its data storage went offshore to US retail and technology giant Amazon.
Key points: The Federal Government says the app will help trace the coronavirus spread in Australia
Concerns are raised that Australians’ data will be hosted by US tech giant Amazon
Data held by US-registered companies can be accessed by US law enforcement
Bureaucrats inside the Government’s Digital Transformation Agency voiced concerns about the awarding of the contract to an overseas provider when several wholly Australian-owned cloud storage services had been security vetted for precisely such high-level contracts.
The ABC has also confirmed the tender was a limited, invitation-only opportunity initially run by the Department of Home Affairs, which is principally responsible for border protection and national security.
Issuing the contract to Amazon may also mean the Australian data is obtainable by US law enforcement under a 2018 law that allows them to obtain information held by US-registered data companies no matter where in the world that information is held.
However, today the Prime Minister and a spokesman for Government Services Minister Stuart Robert rejected suggestions the US law would apply to the tracing app data.
Amazon, incorporated in Seattle, is one of the world’s largest companies.
Last year it reported earnings of more than $270 billion.
Home Affairs declined to answer specific questions about the tender process.
A spokesman for the department said: “The department’s role in the development of a contact tracing capability has been one of support to enable access to the capacity of staff with relevant technical and delivery skills to progress this work on behalf of the Department of Health and the Digital Transformation Agency.”
Responsibility for the tracing app has since been moved to the Digital Transformation Agency, which comes within the portfolio of Government Services Minister Stuart Robert.
A spokesman for Mr Robert said the Minister had confidence in the management of the tracing app data, which he said was a “contact” app and still in development.
“Uploaded contact information will be stored in Australia in highly secure servers and protected by additional laws to restrict access to health professionals only,” he said.
Asked for Mr Robert’s view of the decision of Home Affairs to run a limited, invitation-only tender, his spokesman said: “We cannot comment on a procurement process led by another department.”
ABC News can also reveal the Government has plans to store the decryption keys for the data in the same cloud as the data itself — a practice frowned upon within the industry for such a sensitive cache of public information.
Mr Robert’s spokesman said the practice was acceptable.
“Database keys will be managed through Amazon Web Services’ Key Management System (KMS), a widely used security service that has been previously assessed by the ACSC,” the spokesman said.
ACSC refers to the Australian Cyber Security Centre, part of the Australian Signals Directorate, the country’s electronic spy agency which is responsible for government cyber security.
How the tracing app works
Data collected by the Federal Government’s proposed coronavirus app will be held in Australia by US company Amazon, if you test positive to the virus. (ABC News: Michael Clements)
The app is designed to help identify with whom a COVID-19 positive person has met while infected, speeding up the contact tracing process.
Relying on Bluetooth technology, the app will identify other phones using the app that have been within a 1.5 metre range for at least 15 minutes.
The app logs and encrypts that contact on the phone. Later, if a person using the app tests positive to COVID-19, they would be asked to download their encrypted contact log and send it to the Government, which will store it in the Amazon cloud.
State and territory health authorities will then be able to access the cloud, decrypt the data and contact those who were in close proximity to the COVID-positive person.
The tracing app has been sold by Prime Minister Scott Morrison as an important part of easing restrictions in Australia, but it has also been met with concerns regarding how information will be used and stored.
The revelation that this information is to be held by Amazon’s cloud service — Amazon Web Services (AWS), the world’s largest cloud service, which operates under US law — may spark further concern.
AWS is subject to a raft of invasive US national security legislation, including the CLOUD Act, a 2018 law compelling US-based technology companies to provide data to federal law enforcement under warrant, regardless of whether the data is held in the US or overseas.
However, a spokesman for Mr Robert said the US CLOUD Act did not apply to Australian data.
“Keeping Australian data in Australia will be guaranteed through a determination through the Biosecurity Act and legislation,” he said.
“It will be a criminal offence to transfer data to any country other than Australia. A penalty of imprisonment for five years and/or 300 penalty units ($63,000) could apply to breaches of the direction.
“This is exactly the same way the Australian Government already uses AWS for many other agencies, including the work of our intelligence agencies, including ASD, and ensures Australian data stays in Australia.”
The Prime Minister said in a press conference today that only health workers undertaking contact tracing would legally be able to access the personal information in the app.
“The server is in Australia and it’s using AWS, who work with Australia on many, many sensitive issues,” he said.
“It’s a nationally encrypted data store.
“It is illegal — it will be illegal for information to go out of that data store to any other person other than that for whom the whole thing is designed.”
Australian providers overlooked
Among those raising concerns about the Amazon deal is cyber security not-for-profit, AustCyber.
The app will track details of people you have come into contact with, not your GPS location. (AP: Michael Dwyer)
AustCyber’s chief executive, Michelle Price, said the exclusion of Australian-owned providers for the service was disappointing.
“I don’t know why they were not alerted to it,” Ms Price said.
“It’s a bit unfortunate that local providers who have worked hard and attained accreditation to provide security in the cloud to government were not able to be a part of this.”
Among the local providers who were overlooked for the contract are AUCloud, Macquarie Telecom, Sliced Tech and Vault.
The Government has previously security vetted two giant US corporations to provide secure cloud storage — Microsoft and Amazon.
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Since September 2013, the Commonwealth Government has published contracts with AWS worth more than $116 million.
The departments of health, defence and agriculture have all issued cloud storage contracts to AWS, as has the Australian Signals Directorate.
In June last year the Digital Transformation Agency published details of a $55 million contract with AWS for a “whole of government agreement” which runs until April 2022.
Ms Price said she and others had also advised the Government that its current plan — to store the encryption keys in the same cloud as the data itself — posed an unnecessary security risk.
“The other thing we can do as best practice is to ensure, because the data is appropriately going to be encrypted, the encryption keys are held separately to the database,” she said.
She hoped the Government would change tack.
“It’s my understanding that off the back of us and others asking the question about whether the keys will be stored in the same cloud, and pointed it out that best standard is to hold them separately, that’s being actively worked on,” she said.
“And it’s my recommendation those keys be held in a sovereign cloud.”
Asked whether she would still use the app even if the keys are not separated, Ms Price said: “In this instance, yes I would because it’s about saving lives and getting Australians back in the classroom and back to work.
“In a different context I would think twice about it.”