Daily News Digest March 17, 2020

Another Example of a Failed System: World Capilalism Was Aware of the Danger of Cornovavirus Threat a Year Ago and Did Nothing!

Capitalism Does Not, and Never Has, Worked for the Masses! In Its Death Agony, Capitalism Is Traveling About The World Like The Four Horsemen of the The Apocalypse, Spreading War, Famine, Pestilence, and Death. The very future of Humanity Is Now At stake!occupy1

Daily News Digest Archives

Laura Gray’s cartoon from the front page of The Militant August 18, 1945, under banner headline: “There Is No Peace”

During This Economic Crisis, Capitalism’s Three-Point Political Program: 1.Austerity, 2.Scapegoat Blacks, Minorities, and ‘Illegal’ Immigrants for Unemployment, and 3.  The Iron Heel!

Always Remember:  That President Obama, With a Majority Democrat Legislature Supported the Wall Street Bailout and Remember, That he Established, in writing,  the United States Capitalist Austerity Program. —  The Race to the Bottom/Pauperization of the 99%!

Democracy?:As the Capitalist Robber Barons Steal from the 99%,  Only the 1% Voted For Austerity!   The 99% Should Decide On Austerity — Not Just The 1% Who, Profit From Austerity!!

Under Austerity, All of the World Will Eventually Be Pauperized, Humbled, and Desecrated Like Greece and Puerto Rico.!   Socialism Means True Democracy, that the 99% Will Rule, Not the Few!

Quotes of the Day:

“Accidents” cannot be avoided. However, an accident is when a deer jumps in front of your car or when a tree falls on someone’s home or car during a tornado. A nuclear meltdown is not an accident, it is a manmade disaster. The truth is that government officials in Japan, the US nuclear officials, other nuclear power and nuclear weapons incentivized countries, and  the nuclear industries themselves continue to frame the Fukushima Daiichi disaster as an ‘accident’.  Why? Because, if the mainstream media and people around the world believe the pro-nuke falsehood that nuclear meltdowns like Fukushima happen rarely if ever and meltdowns were never anticipated, then the majority of the media and the people it influences will look the other way as antiquated, outmoded, costly, and unsafe atomic power reactors are restarted or receive permits to extend their operating lives past their 40-year design lives. — The Fukushima Atomic Power Meltdowns Were Not ‘Accidents’ [None Are]

The average age of U.S. commercial power reactors that were operational as of October 31, 2019 was about 38.5 years. The oldest operating reactor is Nine Mile Point 1 in New York, which entered commercial service in December 1969. The newest reactor to enter service is Tennessee’s Watts Bar Unit 2, which began operation in June 2016. The next-youngest operating reactor is Watts Bar Unit 1, also in Tennessee, which entered service in May 1996. — How Old Are U.S. Nuclear Power Plants, and When Was the Newest One Built?

In a 2016 interview with Fraud Magazine, former Enron CFO Andrew Fastow explained what he thought made him so successful while at the former energy corporation that’s now infamous for financial scandal.   “I think my ability to do structured financing, to finance things off-balance sheet and to find ways to manipulate financial statements — there’s no nice way to say it. Like I said at the conference, I was good at finding loopholes.”  As Fastow explained, in finance, the difference between a loophole and fraud isn’t always easy to identify. And that may be something the U.S. fracking industry is working to its advantage. Fastow, the convicted fraudster, does admit that what they did at Enron misled investors. “We created something that was monstrously misleading, but any one of those deals alone wasn’t necessarily considered fraudulent,” he said. Fast-forward to today and a different part of the energy industry:   The U.S. shale oil and gas industry has lost more than a quarter trillion dollars since 2007, while being sold to investors as an economic boom, even at oil prices much lower than those of recent years. Does that financial mismatch seem misleading? Or perhaps, familiar?  In an unexpected twist, Fastow now gives talks to the energy industry on ethical leadership.Is the U.S. Fracking Boom Based on Fraud?

Videos of the Day:

Meet the 17-Year-Old Behind a Website Tracking Coronavirus Cases That Is Now a Vital Global Resource

Climate Crisis: Coal Storage Ban Suit, Bans on Gas Bans, Shale Bailout In this climate news roundup, we examine King Coal’s lawsuit, an industry push to ban natural gas bans, a possible fracking bailout and provide an update on the Senate energy bill.

Images of the Day:

When St. Patrick Drove the Snakes Out Of Ireland


The United States is not a Democracy (A government in which the supreme power is vested in the people and exercised by them directly)! Only the 1%, through their ownership of the Republicrats and who profit from war and the war budget, vote for War and the war budget — A policy, which Gore Vidal called a  Perpetual War for Perpetual Peace. — The 99% Should Decide On War — Not Just The 1% Who Profit From War!  Under a Democracy, The 99% would have the right to vote on the policy of Perpetual War for Perpetual Peace! The United States takes from the poor and gives to the Rich.

The Kushner family is trying to cash in on the pandemic that could kill millions of us. Oscar Health, the health insurance company co-founded by Jared Kushner’s younger brother, announced Friday that it has launched a testing center locator for COVID-19 in the United States with more than 100 centers. The company is also offering a risk assessment survey and talking to a doctor online. . . . Joshua Kushner, Jared Kushner’s younger brother, co-founded Oscar Health in 2012.  — Here’s how the Kushner family is cashing in on the coronavirus

Trump’s family could make a ‘killing’ from CureVac investments: ‘Depraved’: Trump Reportedly Offered German Firm ‘Large Sum’ for Exclusive Rights to Coronavirus Vaccine “Trump wanted not only to control any new vaccine but also to make sure that it would only be available on a for-profit basis.”  German lawmakers and government officials voiced outrage at reporting Sunday that the Trump administration is seeking to secure exclusive rights to a potential coronavirus vaccine being developed by the German firm CureVac as the pandemic spreads and takes lives across the globe. The German newspaper Welt am Sonntag, citing an anonymous German government official, reported Sunday that the Trump administration offered CureVac $1 billion to hand the U.S. exclusive rights to a potential COVID-19 vaccine. By Jake Johnson

Trumps Bails His Out Cronies — The Fracking Fraudsters!: At ‘Shock Doctrine Press Conference,’ Trump Bails Out Oil Industry, Not US Families, as Coronavirus Crisis Intensifies “Trump has once again put the interests of oil and gas executives ahead of the interests of people and communities.” By Jon Queally

Texas “Frack Master” Charged in Alleged Securities Fraud Scheme

‘Apocalyptic’: Trump’s Racist Travel Ban Causes Chaos at U.S. Airports “This is the result of having Jared Kushner and Steven Miller direct actions and responses in a national crisis” International arrivals at US airports were thrown into chaos Saturday night as the Trump administration’s poorly arranged coronavirus screenings began for travelers returning from Europe. Angry tweets pointed the blame at Trump officials for causing the massive lines pushing tens of thousands of people close together for hours – the exact opposite of the recommended social distancing for stopping the spread of coronavirus. By  Common Dreams staff


Japan’s Nuclear Cover-up Continues, Nine Years after the Fukushima Disaster The six atomic power reactors at the Fukushima Daiichi nuclear site were severely damaged 9-years ago when a Richter 9 earthquake in the Pacific Ocean occurred at 2 p.m. on March 11, 2011 ravaging the nuclear reactors, flooding safety systems, and causing three atomic power meltdowns. Fairewinds is using the 9th commemoration of the meltdowns at Fukushima to discuss how the government of Japan, TEPCO (Tokyo Electric Co), the International Atomic Energy Agency (IAEA), and the worldwide nuclear industries have perpetuated their coverup of the tragedy of the Fukushima meltdowns. These corporate and governmental groups and agencies have consistently misinformed the International Press, the citizens of Japan, and people around the world about the true consequences of the Fukushima Daiichi meltdowns. by Arnie GundersenUnited States of Environmental Racism: Newark’s Lead Crisis Isn’t Over: “People Are Still Drinking Water That They Shouldn’t” In Newark, a city of over 282,000 where about half the population is black, one-third Latino, and over one-quarter live in poverty, lead contamination has been on people’s minds for far too long. Since 2015, the city has been dealing with elevated lead levels in its drinking water, a growing crisis that hit its apex last summer, when the Environmental Protection Agency informed Newark that the filters the city had distributed to address the lead problem weren’t working. City officials gave out over 70,000 cases of bottled water; photos of residents sweating in long lines made national news, and comparisons to Flint, Michigan, abounded. By Rebecca Nathanson

Say Goodbye to Beaches: Rising Seas Are Set to Erode World’s Coastlines Right now, around a third of the world’s coastline is made up of sandy beaches and dunes which slope gently and softly to the sea. By the end of the century, these could make up only one-sixth of the frontier between land and ocean. Sea level rise driven by global heating could sweep half of them away. Beaches are nature’s buffers between eroding land and tempestuous sea: they protect the coast, they provide a unique habitat for wildlife, and they have become powerful socio-economic resources. Tim Radford

Dependency, Distress and No Durable Agronomic Benefits: The Story of Bt Cotton in India In the early 2000s, genetically modified (GM) Bt insecticidal cotton was being heavily promoted in India on the basis that it would cut pesticide use dramatically, boost yields and contribute to the financial well-being of farmers. Private sector Bt cotton hybrids now cover over 90% of the area under cotton. Supporters of Bt cotton have wasted little time in claiming that GM technology has increased cotton yields, reduced pesticide use and has been of enormous benefit to farmers due to increased crop profitability. If we consider Prof Glenn Stone’s 2012 paper ‘Constructing Facts: Bt Cotton Narratives in India’, however, it becomes clear that such claims are too often weaved from flawed data and studies and merely serve to bolster vested interests. By Colin Todhunter

Civil Rights/ Black Liberation:


Shadow Government Statistics Special Commentary, Issue No. 1429 

  • FOMC Liquidity Panic: Federal Funds Rate Cut a Full Percentage Point on March 15th to a Range of 0.00% to 0.25%, Following a March 3rd 50 Basis-Point Cut to a Range of 1.00% to 1.25%
  • Federal Reserve Also Has Lined Up Dollar Liquidity Support With the Bank of Canada, the Bank of England, the Bank of Japan, the European Central Bank and the Swiss National Bank 
  • This Signals Extraordinarily Unstable Circumstances at Work in the Global Markets
  • Nonetheless, Physical Gold and the Swiss Franc Should Continue to Hold Their Own Against What Likely Will Remain a Faltering U.S. Dollar
  • Pandemic and Oil Price Disruptions Are Overwriting and Seriously Deepening What Already Was an Intensifying Economic Downturn
  • Pandemic and Oil Price Disruptions Are Overwriting and Seriously Deepening What Already Was an Intensifying Economic Downturn
  • First- and Second-Quarter 2020 Quarterly GDP Contractions Should Rival or Exceed Great Recession Numbers
  • Economic Growth Could Stabilize at Lower Levels by Year-End, Depending on How the Systemic Shocks Play Out
  • Economic and Financial-Market Disruptions Have Just Begun, Despite the Extraordinary Systemic Manipulations and Interventions
  • Federal Reserve Viability and Loss of Systemic Control Have Been Brought to a Head, With the Coronavirus Whirlwind Ripping Away the Veneer of Post-2008 Financial- and Banking-System Recovery and Stability

Federal Debt Should Continue Its Unsustainable Explosion Versus GDP Gross Federal Debt Outstanding versus Nominal U.S. GDP Fiscal-Year-End Debt versus Fiscal-Year GDP to FY2019 Adjusted for Year-End Debt-Ceiling Distortions

The Fed Tried to Give Away $1 Trillion to Wall Street Today and Failed, Suggesting Specific Banks Are In Trouble What is the world coming to when the New York Fed can’t mix up $1 trillion of almost-free money in its punch bowl and get the mega Wall Street banks to drink freely? The New York Fed handed out $129.60 billion this morning at an average interest rate of 0.112. That was for a one-day loan to one or more of Wall Street’s trading firms. The specific names of which firms are doing the borrowing are a closely-guarded secret at the Fed – just as they were during the financial crisis in 2008 until media lawsuits and a legislative amendment forced the banks’ names out into the open. All that the public is allowed to know today is that any of the Fed’s 24 primary dealers (Wall Street trading houses) are allowed to borrow from the facility. (See list below.) By Pam Martens and Russ Martens

Fed Sets Off Panic with Plan to Eliminate Reserves at Wall Street’s Mega Banks Last evening, it became painfully clear that the Board of Governors at the Federal Reserve do not understand the inner workings of Wall Street. After prattling on for months about the need to rebuild “ample reserves” at the behemoth Wall Street banks after the Fed was forced on September 17 to become the liquidity provider of last resort to the tune of $9 trillion cumulatively thus far, the Fed flipped its thinking on a dime yesterday and sent markets into a panic. As of 8:55 a.m. this morning, S&P 500 futures are locked, limit down, suggesting a steep drop in stocks at the open of trading at 9:30 a.m. Along with a series of other measures to prop up liquidity on Wall Street, the Federal Reserve Board of Governors announced last evening that it “has reduced reserve requirement ratios to zero percent effective on March 26, the beginning of the next reserve maintenance period. This action eliminates reserve requirements for thousands of depository institutions and will help to support lending to households and businesses. By Pam Martens and Russ Martens


China Sends Medical Experts to Support Italy and Spain’s Fight Against Coronavirus! Rome blasts the EU for ignoring its pleas for helpChina has sent a team of medical experts and aid to support Italy and Spain in their fight against coronavirus after Rome blasted the European Union for ignoring its pleas for help. By Steve SweeneyHealth, Science, Education, and Welfare:

The government of the United States can pass laws in a few days to spend tens of trillions of dollars for war and the bailout of Wall Street and the bankers. Yet, those who ‘governn’, pass universal healthcare for themselves, but they cannot spend even one trillion dollars for universal health for those who are ‘governed’! This is what is considered, by the powers to be,  a democracy and part of the democratic way. — Roland Sheppard, Let the People  Vote on Healthcare! 

Book Review: Big Farms Make Big Flu: Dispatches on Infectious Disease, Agribusiness, and the Nature of Science By Rob Wallace Thanks to breakthroughs in production and food science, agribusiness has been able to devise new ways to grow more food and get it more places more quickly. There is no shortage of news items on the hundreds of thousands of hybrid poultry—each animal genetically identical to the next—packed together in megabarns, grown out in a matter of months, then slaughtered, processed, and shipped to the other side of the globe. Less well known are the deadly pathogens mutating in, and emerging out of, these specialized agro-environments. In fact, many of the most dangerous new diseases in humans can be traced back to such food systems, among them Campylobacter, Nipah virus, Q fever, hepatitis E, and a variety of novel influenza variants. In Big Farms Make Big Flu, a collection of dispatches by turns harrowing and thought-provoking, Rob Wallace tracks the ways influenza and other pathogens emerge from an agriculture controlled by multinational corporations. With a precise and radical wit, Wallace juxtaposes ghastly phenomena such as attempts at producing featherless chickens with microbial time travel and neoliberal Ebola. Wallace also offers sensible alternatives to lethal agribusiness. Some, such as farming cooperatives, integrated pathogen management, and mixed crop-livestock systems, are already in practice off the agribusiness grid. . . . Read More