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Story 1: President Trump Closing Press Conference At G-7 Summit Meeting in Biarritz, France — Unity — Videos —

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Kyle Bass

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Kyle Bass
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J. Kyle Bass
Born September 7, 1969 (age 49)

Residence Dallas, TexasUnited States
Nationality American
Alma mater Texas Christian University (B.B.A.)
Occupation Founder & Chief Investment Officer,
Hayman Capital Management

J. Kyle Bass (born September 7, 1969) is an American hedge fund manager. He is the founder and principal of Hayman Capital Management, L.P., a Dallas-based hedge fund focused on global events.[1]

In 2008, Bass successfully predicted and effectively bet against the U.S. subprime mortgage crisis by purchasing credit default swaps on subprime securities which, in turn, increased in value when the real estate bubble burst.[2]

Despite his early success in predicting subprime mortgages, he has received criticism for subsequent poor performance of investments.[3] Bass has made prominent bets based on predictions of debt crisis in Japan and European sovereign debt, and shorted the Chinese yuan premised on a predicted collapse in the Chinese banking system. His fund has also challenged patents held by drug companies and shorted their stocks. His Japanese and European strategies have not been major successes and the Chinese yuan short led to severe losses for his fund in 2017.[4][5] The drug patent challenge campaign fizzled after several legal setbacks.[6]

Contents

Early life

Bass was born on September 7, 1969, in Miami, Florida, where his father managed the Fontainebleau Hotel. His father later moved the family to Dallas, Texas where he managed the Dallas Convention and Visitors Bureau.[7] Bass attended Texas Christian University on an academic and Division I diving scholarship. In 1992, Bass graduated with honors, earning a B.B.A. in finance with a concentration in real estate.[8]

Career

Before founding Hayman Capital Management in 2005, Bass briefly worked at Prudential Securities from 1992-1994 before joining Bear Stearns in 1994.[9] At Bear Stearns, he rose through the ranks rapidly, becoming a senior managing director at the age of 28 – among the youngest in the firm’s history to carry such a title.[2][8]

In 2001, he joined Legg Mason, signing a five-year deal to form the firm’s first institutional equity office in Texas. Bass told his hiring managers, “In five years and one day, I [will] be launching my own firm.”[9] While at Legg Mason, Bass advised hedge funds and other institutional clients on special situation investment strategies.[2]

In December 2005, when Legg Mason sold the portion of the business where he worked, Bass left Legg Mason and started Hayman Capital Management to serve as the investment manager to a “global special situations” hedge fund that he planned to launch. Bass launched Hayman Capital Management, L.P. with $33 million in assets under management – $5 million he had saved on his own and the balance he had raised from outside investors.[9] Shortly after launching the hedge fund in February 2006, Bass became convinced that there was a residential real-estate bubble in the United States one of the few investors to successfully predict and benefit from the subprime mortgage crisis, bringing him notoriety in the financial services industry.

In 2007, Bass testified as an expert witness before the U.S. House Financial Services Subcommittee on Capital Markets and Government-Sponsored Enterprises. During his testimony, he addressed: i) the role of credit rating agencies in the structured finance market and ii) policy measures that could be taken to minimize inherent conflicts of interest between rating agencies and issuers.[10]

In 2010, Bass testified before the Financial Crisis Inquiry Commission. During his testimony, he addressed his analysis of the factors that caused the crisis.

After enjoying success in predicting the subprime mortgage crisis and moderate success with debt in Greece and Japan, Bass would make a string of poor bets, leading to a dramatic downsizing of his fund. In April 2014, Bass was among a very few defenders of GM for its failure to address a defect that had been tied to 13 deaths. Hayman at the time owned eight million shares of G.M., making it Hayman’s single biggest holding,[11] Coming to the defense of GM, Bass said on CNBC that of the 13 passengers who had died owing to the defect, 12 “either weren’t wearing their seatbelt or were under the influence of alcohol.” [12] Bass admitted in a late 2014 interview that it had been “a tough year” for Hayman due to owning a lot of GM stock, which was the fund’s biggest position in 2014.[13]

After the losing year in 2014, investor’s pulled out nearly a quarter of Hayman’s capital and the firm was forced to liquidate most of its stock holdings.[14] Bass called 2015 one of his fund’s worst years.[15] By early 2019, Hayman had $423.6 million in discretionary assets under management, down from $2.3 billion at the end of 2014.[16]

Fund performance

The long term performance of Hayman Capital’s flagship fund is described by the New York Post as “small caliber”.[14] In the period from 2008 to mid-2015, the flagship fund experienced a very modest annualized performance of 1.56%.[14] The flagship fund had a tremendously successful year in 2007, having gained 212%, based on the subprime mortgage meltdown bet that brought fame to Bass.[14] The fund also gained 16% in 2012 based on bets on Greek debt. The fund lost 1.4% in 2014 and suffered its worst year in 2017 with a 19% loss (in contrast to a 19% surge of the S&P 500) due to Hayman’s misplaced short on a collapse in the Chinese yuan.[14][5]

Investment positions

Subprime mortgages

Bass first began formulating his subprime strategy after he met with an investment banker from New York while attending a wedding in Spain where they discussed how and why the Subprime Mezzanine CDO business existed.[17][18] After returning to the US, Bass hired several private investigators to determine the ease of obtaining a mortgage. Bass spent a significant amount of time studying the residential mortgage market and performed research to identify which residential mortgage backed securities (RMBS) composed of low-quality mortgages were most likely to default. This investment thesis was expressed by purchasing credit default swaps against the securitizations he deemed to be most unstable, which essentially was a manner of shorting the bonds using synthetic instruments. After purchasing the positions for his flagship fund in 2006, Bass raised additional capital for a special fund dedicated exclusively to capitalizing on the opportunity that existed in the market place. Bass managed or advised over $4 billion of positions in subprime RMBS.

In December 2007, after a wave of foreclosures had swept across the US, Bass was featured on Bloomberg TV as making a fortune betting against these subprime securities.

Europe and Japanese debt “doomsday”

After the subprime debt crisis occurred, Bass decided that it was the symptom of a more significant problem with debt and made predictions about debt “doomsday” in Europe and Japan. In 2009 he warned about the possibility of defaults by major countries over the next 3 years.[19] As of 2010, 10-15% of his portfolio was involved in bets against European and Japanese sovereign debts.[20] He went as far predicted that 2012 would be a “doomsday year” for Europe and spoke of a looming breakup of the Eurozone, which, he declared, would lead to defaults in Japan and the United States. He stated in June 2012, “Europe goes first, then Japan and finally the United States.”[21]

Bass has since 2012 also predicted a “full blown crisis” in Japan describing its approach to financing debt as a Ponzi scheme similar to Bernie Madoff‘s investment scam. Most experts have disagreed with his analysis.[22][23] Cullen Roche criticized Bass’s Japan analysis in August 2010, noting that Bass comparing Japan to the EU was an error, since their monetary systems are wildly different. Roche stated “people still fail to understand that a nation with monetary sovereignty that is the supplier of currency in a floating exchange rate system never has a problem funding itself.”[24] In May 2012, Business Insider agreed, faulting Bass’s analysis, since debt-to-GDP ratios do not reflect the interest rate or credit risk of a nation. The Business Insider noted that in a nation that borrows its own currency, public spending finances borrowing.[25]

He has been vocal in public appearances about future calamities stemming from financial meltdown. September 14, 2011, Bass maintained on CNBC that Greece’s only way out of its debt mess was a restructuring. Bass noted that despite the strife it would bring to Greece it was the only measure the nation could take. He added that within a year all of Europe would be in default as well.[26] In a speech reported on January 1, 2014, he assured the audience of his confidence that the next few years would be rife with turmoil, including the eruption of major wars. In his speech, he claimed that with the growing debt and inability to pay it off, eventually social unrest will lead to violent outbreaks. Bass finished his speech stating “War is coming – just as it has throughout history.” [27]

Chinese banking collapse

Starting in July 2015, Bass made a multiyear bet against the Chinese yuan based on a predicted banking collapse in China.[28] Bass would close out his position against the Chinese currency in early 2019 when the predicted devaluation of the currency didn’t occur.[28]

Bass argued in 2015 that the Chinese banking system was undercapitalized and its foreign reserves would be insufficient in a crisis. Bass predicted a hard landing for the Chinese economy following a bank crisis and a severe devaluation of the Chinese currency, variously given as “somewhere between 15%-20%” and “30 to 40 percent”.[29][30]

Hayman suffered its worst year in 2017 with a loss of 19% due to the strengthening of the Chinese yuan.[5]

Drug patent challenge campaign

Bass has attempted to profit from filing and publicizing patent challenges against pharmaceutical companies while also betting against their shares.[31][32] After 2 years of setbacks in his effort, Bass by 2017 ended his patent challenges.[6]

In 2015, Bass organized the Coalition For Affordable Drugs (CFAD) to use the inter partes review (IPR) process to challenge patent validity.[33][34] When he initiated this practice in January 2015, he claimed that his motive was to encourage competition in the manufacture of pharmaceuticals and thus bring down prices.[35]

Bass filed a total of 35 patent challenges, in collaboration with Erich Spangenberg who has been called “the world’s most notorious patent troll”,[3] including 33 filed by CFAD and two filed by Bass personally on a not-for-profit basis.[36]

In June 2015, Celgene received permission from the U.S. Patent and Trademark Office to file a motion seeking sanctions against the CFAD for allegedly abusing the patent-review process. The Wall Street Journal noted that this development was “being closely watched because it raises the possibility that patent officials may put an end” to Bass’s patent-challenge scheme. Celgene also told the patent office, through counsel, that CFAD had threatened to challenge its patents unless Celgene met CFAD’s demands.[37]

In October 2016, Bass prevailed in the case, with USPTO invalidating the two Celgene Corp patents related to its cancer drugs Revlimid, Pomalyst, and Thalomid at issue.[38] However, one year later Celgene was able to convince the Patent Trial and Appeal Board to re-hear the case.[39]

Political relationships

Trump administration

Bass is described by a ProPublica story as a friend of Tommy Hicks Jr, a private investor, who was a hunting buddy to Donald Trump Jr. and had further ties to the Trump administration.[40] According to the investigative story on improper links between Hicks and the Trump administration, Hicks had obtained a hearing for Bass with high level officials at an interagency meeting at the Treasury Department to air views on China.[40] This meeting was at the time Bass held a large short position counting on the fall of the Chinese currency.[40]

Cristina Fernandez de Kirchner

The BBC has described Bass as having a “good relationship” with Argentina’s president Cristina Fernandez de Kirchner.[41] In February 2014, Bass said that Argentinian bonds represented a profitable opportunity and called Argentina most “interesting” nation for investments. He was virtually alone in this assessment, with one observer noting the poor state of the Argentine economy. The IB Times noted that the country had “cheated creditors seven times since it gained independence from Spain in 1816,” most recently defaulting on its debt in 1989.[42] When the Argentine government defaulted on its debt in July 2014, Bass supported the move and criticized the bondholders, notably Elliott Management and Aurelius Capital, that, with the support of U.S. federal judge Thomas Griesa, had held out for full payment. Echoing Argentine President Cristina Fernandez de Kirchner, he called these creditors “vultures,” said that they were “holding up 42 million people from progress,” and were holding Argentina for “ransom”.[43] On August 27, 2014, Bass accused Elliott’s Paul Singer of “holding poor countries as hostages,” prompting The New York Post to comment in an editorial the next day that Bass had “sounded more like Argentina’s leftist economy minister Axel Kicillof than a US hedge-fund manager.” [44]

Philanthropy

Bass serves on the board or in an advisory role for a number of charities and organizations.

He has advised the University of Texas System Investment Management Company (UTIMCO), a public university endowment since 2010.

He also current serves or has served on the board of a number of organizations including the University of Virginia Darden School of Business Advisory Group for the Richard A. Mayo Center for Asset Management, Texas Department of Public Safety Foundation, Business Executives for National Security, Comeback America Initiative, Troops First Foundation and Capital for Kids.[45][46][47][48][49][50]

References …

External links

https://en.wikipedia.org/wiki/Kyle_Bass


China has been seeking to turn American spies for decades. But the rules of the game have changed. About 10 years ago, Charity Wright was a young U.S. military linguist training at the elite Defense Language Institute Foreign Language Center at a base called the Presidio in Monterey, California. Like many of her peers, Wright relied on taxis to visit the city. There were usually a few waiting outside the base’s gate. She’d been assigned to the institute’s Mandarin program, so she felt lucky to frequently find herself in the cab of an old man who told her he’d emigrated from China years ago. He was inquisitive in a way she found charming at first, letting her practice her new language skills as he asked about her background and family. After several months, though, she grew suspicious. The old man seemed to have an unusually good memory, and his questions were becoming more specific: Where is it that your father works? What will you be doing for the military once you graduate?Wright had been briefed on the possibility of foreign intelligence operatives collecting information on the institute’s trainees, building profiles for potential recruitment, given that many of them would move on to careers in intelligence. She reported the man to an officer at the base. Not long after, she heard that he’d been arrested and that there had been a crackdown in Monterey on a suspected Chinese spy ring.

Wright went on to spend five years as a cryptologic language analyst with the National Security Agency, assessing communications intercepts from China. Now she works in private-sector cybersecurity. As a reservist, she still holds a U.S. government clearance that allows her access to classified secrets. And she’s still the target of what she suspects are Chinese espionage efforts. Only these days, the agents don’t approach her in person. They get in touch the same way they reached Kevin Mallory: online. She gets messages through LinkedIn and other social-media sites proposing various opportunities in China: a contract with a consulting firm, a trip to speak at a conference for a generous stipend. The offers seem tempting, but this type of outreach comes straight from the Chinese-spy playbook. “I’ve heard that they can be very convincing, and by the time you fly over, they’ve got you in their lair,” Wright told me.

The tactics she saw from the old man in Monterey were “cut and dry HUMINT,” or human intelligence, she said. They were old school. But those tactics have been amplified by the tools of the social-media age, which allow intelligence officers to reach out to their targets en masse from China, where there’s no risk of getting caught. Meanwhile, intelligence experts tell me, Chinese intelligence officers have only been getting better at the traditional skills involved in persuading a target to turn on his or her country.

Donald Trump has made getting tough on China a central aspect of his foreign policy. He has focused on a trade war and tariffs aimed at rectifying what he portrays as an unfair economic playing field—earlier this month, the U.S. designated China as a currency manipulator—while holding onto the idea that China’s powerful leader, Xi Jinping, can be an ally and a friend. U.S. political and business leaders for decades pushed the idea that embracing trade with China would help to normalize its behavior, but Beijing’s aggressive espionage efforts have fueled an emerging bipartisan consensus in Washington that the hope was misplaced. Since 2017, the DOJ has brought at least a dozen cases against alleged agents and spies for conducting cyber- and economic espionage on behalf of China. “The hope was, as they develop, as they become more wealthy, as they start being a part of the club of developed nations, they’re going to change their behavior—once they get closer to the top, they’re going to operate by our rules,” John Demers told me. “What we’ve seen instead is [China] becoming better resourced and more methodical about the theft of information.”

For the past 20 years, America’s intelligence community’s top priority has been counterterrorism. A generation of operations officers and analysts has been geared more toward finding and killing America’s enemies and preventing extremist attacks than toward the more patient and strategic work that comes with peer competition and counterintelligence. If America is indeed entering an era of “great power” conflict with China, then the crux of the struggle will likely take place not on a battlefield, but in the race for information, at least for now. And here China is using an age-old human frailty to gain advantage in the competition with its more powerful adversary: greed. U.S. officials have been warning companies and research institutions not just of the strings that might be attached to Chinese money, but of the danger of corrupted employees turned spies. They are also worried about current and former U.S. officials who have been entrusted with protecting the nation’s secrets.


When I told William Evanina, America’s top counterintelligence official, Wright’s story about the cab driver in Monterey, he replied: “Of course.”

Spy rings operating out of taxis are relatively unoriginal, he told me, and have long been an issue around U.S. military and intelligence installations. An FBI and CIA veteran who is now the director of the National Counterintelligence and Security Center, Evanina has a suspicious mind—and perhaps one of the country’s worst Uber ratings. He sees the risk of intelligence collection and hidden cameras in any hired car, he told me, and if a driver ever tries to make small talk, he immediately shuts it down.

Knowing someone’s background can help an intelligence agency build a profile for potential recruitment. The person might have medical bills piling up, a parent in debt, a sibling in jail, or an infidelity that exposes him or her to blackmail. What really worries Evanina is that so much of this information can now be obtained online, legally and illegally. People can ignore Uber drivers all they want, but a good hacker or even someone savvy at mining social media might be able to track down targets’ financial records, their political views, profiles of their family members, and their upcoming travel plans. “It makes it so damn easy,” he said.

Security breaches happen with alarming regularity. Capital One announced in July that a data breach had exposed about 100 million people in America. During one of my conversations with Wright, she mused that whatever information the old man in the taxi might have wanted to glean from her, all that and much more may have been revealed in the 2015 breach of the U.S. Office of Personnel Management. In that sophisticated attack, widely believed to have been carried out by state-sponsored Chinese hackers, an enormous batch of data was stolen, including detailed information the government collects as part of the process of approving security clearances. The stolen information contained “probing questions about an applicant’s personal finances, past substance abuse, and psychiatric care,” according to Wired, as well as “everything from lie detector results to notes about whether an applicant engages in risky sexual behavior.”

Russia, the U.S. adversary that is often included with China in discussions of “near peer” conflict, has a modus operandi when it comes to recruiting spies that is similar to America’s, Evanina said. While some of their intelligence efforts, such as election interference, are loud and aggressive and seemingly unconcerned with being discovered, Russians are careful and targeted when trying to turn a well-placed asset. Russia tends to have veteran intelligence operatives make contact in person and proceed with care and patience. “Their worst-case scenario is getting caught,” Evanina told me. “They take pride in their HUMINT operations. They’re very targeted. They take extra time to increase the percentage of success. Whereas the Chinese don’t care.” (This doesn’t mean that the Chinese can’t also be targeted and discreet when needed, he added.)

“What you have is an intelligence officer sitting in Beijing,” he said. “And he can send out 30,000 emails a day. And if he gets 300 replies, that’s a high-yield, low-risk intelligence operation.” Concerning those who have left government for the private sector—and who sometimes keep their clearance to continue doing sensitive government work—it can be hard to know where to draw the line. Evanina said China will sometimes wait years to target former officials: “Your Spidey sense goes down.” But “your memory is not erased”—that is, they’ve still got the information the Chinese want.

(Alicia Tatone)

Often, Chinese spies don’t even have to look too hard. Many of those who have left U.S. intelligence jobs reveal on their LinkedIn profiles which agencies they worked for and the countries and topics on which they focused. If they still have a government clearance, they might advertise that too. Buried in the questionnaire Evanina filled out for his Senate confirmation is a question asking whether he had any plans for a career after government. “I currently have no plans subsequent to completing government service,” he wrote. When I asked him about this, he admitted that this is becoming less common among intelligence officials his age. (He’s 52.) “All of my friends are leaving like crazy now because they have kids in college,” he said. “The money is [better]. It’s hard to say no.”

If a former intelligence officer lands a job at a prominent government contractor, such as Booz Allen Hamilton or DynCorp International, he or she can expect to be well compensated. But others find themselves in less lucrative posts, or try to strike out on their own. Evanina told me that Chinese intelligence operatives pose online as Chinese professors, think-tank experts, or executives. They usually propose a trip to China as a business opportunity. “Especially the ones who have retired from the CIA, DIA, and are now contractors—they have to make the bucks,” Evanina said. “And a lot of times that’s in China. And they get compromised.”

Once a target is in China, Chinese operatives might try to get the person to start passing over sensitive information in degrees. The first request could be for information that doesn’t seem like a big deal. But by then the trap is set. “When they get that [first] envelope, it’s being photographed. And then they can blackmail you. And then you’re being sucked in,” Evanina said. “One document becomes 10 documents becomes 15 documents. And then you have to rationalize that in your mind: I am not a spy, because they’re forcing me to do this.”

In the cases of Mallory, Hansen, and Lee, Evanina said, the lure wasn’t ideology. It was money. Money was also the lure in two similar cases, in which suspects were convicted of lesser charges than espionage. Both apparently began their relationship with Chinese intelligence officers while still employed in sensitive U.S. government jobs.

In 2016, Kun Shan Chun, a veteran FBI employee who had a top-secret security clearance, pleaded guilty to acting as an agent of China. Prosecutors said that while working for the agency in New York he sent his Chinese handler, “at minimum, information regarding the FBI’s personnel, structure, technological capabilities, general information regarding the FBI’s surveillance strategies, and certain categories of surveillance targets.” And in April, Candace Claiborne, a former State Department employee, pleaded guilty to conspiracy to defraud the United States. According to the criminal complaint, Claiborne, who had served in a number of posts overseas including China, and held a top-secret security clearance, did not report her contacts with suspected Chinese agents, who provided her and a co-conspirator with “tens of thousands of dollars in gifts and benefits,” including New Year’s gifts, international travel and vacations, fashion-school tuition, rent, and cash payments. In exchange, Claiborne provided copies of State Department documents and analysis, prosecutors said.

Evanina’s office in Bethesda, Maryland, features a so-called Wall of Shame, on which hang the photographs of dozens of convicted American traitors—a testament to the struggles that have always plagued the U.S. intelligence community. The Cold War, for example, was marked by disastrous leaks from people such as the CIA officer Aldrich Ames and the FBI agent Robert Hanssen. Larry Chin, a CIA translator, was arrested in 1985 on charges of selling classified information to China over the course of three decades. That came during the so-called Year of the Spy, as the FBI made a series of high-profile arrests of U.S. government officials spying for the Soviet Union, Israel, and even Ghana. The Wall of Shame is currently being renovated, and when it’s unveiled in the fall, it will feature several new faces.Whenever a current or former U.S. intelligence officer has been turned, it takes years to assess the full repercussions. “We have to mitigate that damage for sometimes a decade,” Evanina said.


Two decades ago, Chinese intelligence officers were largely seen as relatively amateurish, even sloppy, a former U.S. intelligence official who spent years focusing on China told me. Usually, their English was poor. They were clumsy. They used predictable covers. Chinese military intelligence officers masquerading as civilians often failed to hide a military bearing and could come across as almost laughably uptight. Typically their main targets tended to be of Chinese descent. In recent years, however, Chinese intelligence officers have become more sophisticated—they can come across as suave, personable, even genteel. Their manners can be fluid. Their English is usually good. “Now this is the norm,” the former official said, speaking with me on condition of anonymity due to security concerns. “They really have learned quite a bit and grown up.”

Rodney Faraon, a former senior analyst at the CIA, told me that the Mallory and Hansen cases show just how far China’s espionage services have come. “They’ve broadened their tactics to go beyond relatively easy targets, from recruiting among the ethnically Chinese community to a much more diverse set of human assets,” he said. “In a sense, they’ve become more traditional.”

In his recently published bookTo Catch a Spy: The Art of Counterintelligence, James Olson, a veteran of the CIA’s clandestine service and its former chief of counterintelligence, breaks down the basics of China’s espionage services and how they operate. The Ministry of State Security (MSS), its main service, focuses on overseas intelligence. The Ministry of Public Security focuses on domestic intelligence, but also has agents abroad. The People’s Liberation Army, which focuses on military intelligence, “has defined its role broadly and has competed with the MSS in a widerange of economic, political, and technological intelligence collection operations overseas, in addition to its more traditional military targeting.” Olson adds that “the PLA has been responsible for the bulk” of China’s cyberespionage, though the MSS may also be expanding in this realm. Both the MSS and PLA, meanwhile, “make regular use of diplomatic, commercial, journalistic, and student covers for their operations in the United States. They aggressively use Chinese travelers to the US, especially business representatives, academics, scientists, students, and tourists, to supplement their intelligence collection. US intelligence experts have been amazed at how voracious the Chinese have been in their collection activity.”

If veteran American spies are vulnerable to Chinese espionage, U.S. companies may be faring even worse. In some cases, targeting the private sector and targeting U.S. national security can mix. A former U.S. security official, who now works for a prominent American aviation company that is involved in highly sensitive U.S. government projects, told me that the company had a suspected intelligence collector linked to China in its midst. “I would say that he’s had tradecraft training,” this person said, speaking anonymously due to an ongoing law-enforcement investigation.The former security official was hired by the company to monitor such threats, and initially found the lack of effective prevention measures and training at the company jarring. “When I walked in and got the briefing here, I thought it was a joke … Now we do take some measures to protect against [insider threats], but in a sense it’s fox in a henhouse,” this person said. “We as an industry are woefully inadequate at protecting ourselves from a foreign-intelligence threat.”

In a sense, going after American spies and government officials is fair game in the intelligence world. The U.S. does the same against the Chinese. “Intelligence operations are universal, with every country—other than a few isolated island-states who are concerned mainly with the danger of approaching cyclones—engaging in them, to one degree or another,” Loch K. Johnson, a professor emeritus at the University of Georgia, the author of Spy Watching: Intelligence Accountability in the United States, and one of America’s foremost intelligence scholars, told me in an email. He added that while almost every nation fields capabilities to both collect information about its adversaries and defend itself against espionage, a much smaller number have meaningful networks for covert action, which he described as “secret propaganda; political and economic manipulation; even paramilitary activities.” Both America and China count themselves among this group.

“The United States used propaganda, political, and economic ops during the Cold War and (somewhat less aggressively) since. China returns [the] favor,” Johnson said. “Both are major powers and have a full complement of intelligence capabilities, aimed at each other and other significant targets around the world. This means that the United States (like China in reverse) is constantly trying to learn what China is doing when it comes to military, economic, political, and cultural activities, since they may impinge upon U.S. interests in Asia and elsewhere.” To that end, the U.S. uses signals intelligence, geospatial intelligence, and HUMINT, Johnson said, “all aided by a diligent searching through the available (and voluminous) [open-source intelligence] materials for background.”

But he noted a key difference between the two countries: China’s aggressive approach to economic espionage. These Chinese efforts are partly what have prompted U.S. officials and politicians to turn to a newly popular refrain that China’s not playing by the rules. U.S. officials insist that American intelligence agencies do not target foreign companies with the aim of helping domestic ones. (The line between American spying on foreign companies to advance the country’s economic and strategic interests and whether that spying helps U.S. companies can be blurry.) “What we do not do, as we have said many times, is use our foreign intelligence capabilities to steal the trade secrets of foreign companies on behalf of—or give intelligence we collect to—U.S. companies to enhance their international competitiveness or increase their bottom line,” James Clapper, then the director of national intelligence, said in 2013, amid revelations that the NSA had spied on foreign companies.Dennis Wilder, who retired as the CIA’s deputy assistant director for East Asia and the Pacific in 2016, told me that the Chinese approach to espionage is defined by the fact that its leaders have long seen America as an existential threat. “This is a constant theme in Chinese intelligence—that we’re not just out to steal secrets, we’re not just out to protect ourselves, that the real American goal is the end of Chinese Communism, just as that was the goal with the Soviet Union,” he said.
Wilder, who still travels to the country as the director of an initiative for U.S.-China dialogue at Georgetown University, told me that Chinese officials regularly bring up past American covert action such as the CIA’s ill-fated support for the independence movement in Tibet beginning in the 1950s, and its infiltration of agents into China via Taiwan. And they still see an American hand in events such as the protests in Hong Kong today. “So we’re all sitting here scratching our heads and saying, ‘Do they really believe we’re behind Hong Kong? And the answer is, yes they do. They really believe that the fundamental American goal is the destruction and demise of Chinese Communism,” he said. “Now, if you believe that the other guy is bent on your destruction, then it’s kind of anything goes. So for the Chinese, stealing, espionage, cyberespionage against American corporations for the good of the Chinese state, are just part and parcel of the need for survival against this very formidable enemy.”China denies that it is spying against the U.S.  on the scale alleged by American officials. When presented with the details of this story, a spokesperson for the Chinese embassy in Washington, D.C., Fang Hong, said via email that she had no knowledge of the cases involving Mallory, Hansen, Lee, and others. “China has always fully respected the sovereignty of all countries and does not interfere in the internal affairs of other countries,” she said. Fang also disparaged U.S. attempts to root out Chinese spies, citing a quote commonly attributed to a great American writer. U.S. views on Chinese espionage, she remarked, “remind me of what Mark Twain said: ‘To a man with a hammer, everything looks like a nail.’”
Fang continued, “U.S. officials’ accusations against Chinese students and researchers are groundless. Guided by the zero-sum-game mentality and ill intentions to contain China, people and institutions in the U.S. have been fabricating such absurd pretexts as ‘espionage’ as an excuse to harass them and make groundless allegations.”

She added that innocent people had been framed in some cases and that “such false accusations severely undermine China-U.S. people-to-people exchanges, and scientific and technological cooperation.”

The litany of cases the DOJ has brought over the past year or so underscores the comprehensive quality of China’s espionage efforts: a former General Electric engineer charged with theft of trade secrets related to gas and steam turbines (he has pleaded not guilty); an American and a Chinese citizen charged with attempting to steal trade secrets related to plastics (the American has pleaded not guilty and the Chinese defendant, as of March 2019, had yet to appear in a U.S. court); a state-owned Chinese chip-making company and a Taiwanese company that makes semiconductors charged with stealing from an American competitor(the chipmaker has pleaded not guilty); two Chinese hackers charged with targeting intellectual property (China denied the “slanderous” economic espionage charges). In Senate testimony in July, FBI Director Christopher Wray said that the agency has “probably about 1,000 plus investigations all across the country involving attempted theft of U.S. intellectual property … almost all leading back to China.”

Demers, the national-security official at the Justice Department, told me that China uses the same tactics and even some of the same intelligence officers in its espionage efforts against America’s private sector. “What it shows is how seriously the Chinese government takes their intellectual-property-theft efforts, because they’re really using the crown jewels of their intelligence community and their most sophisticated and well-honed tradecraft,” he said.Some of the trade secrets China is accused of stealing seem simply aimed to help a specific company or industry. Often, however, the distinction between a Chinese company and the Chinese state is not clear-cut. Chinese law mandates that all corporations cooperate with the government on national security. This was one concern U.S. officials cited after announcing indictments against the Chinese telecommunications giant Huawei earlier this year; the Trump administration has banned U.S. companies from doing business with it. (Huawei has pleaded not guilty to attempted U.S. trade-theft allegations.)Demers told me that China uses economic espionage as a form of “R&D,” or research and development. “They also have very talented, smart people who are using their resources in legitimate ways, which is, I think, some of the frustration that folks have right now—that you could do this differently. You could fight fair, right? You’re not the 80-pound weakling who has to throw dirt in somebody’s eye to get ahead.”
The open business climate between America and China—the sort of climate that did not exist between America and the Soviet Union during the Cold War—makes addressing Chinese espionage trickier: China is both a rival and a top trade partner. The economic and research relationship between the two countries benefits them both. At the same time, Chinese immigrants and visitors to America risk being unfairly targeted if U.S. officials fail to find the right balance, which would cast a chill on legitimate exchange between the two countries while raising the specter of American overreactions during past struggles, from the Cold War to the War on Terror. As U.S. officials warn about the Chinese espionage threat and the U.S. intelligence community reorients to face it, they must be careful not to undermine the American values—openness, civil liberty, enterprise—that remain perhaps the country’s greatest advantage over China.Rodney Faraon, who worked on the President’s Daily Briefing team at the CIA during the Bill Clinton and George W. Bush administrations and is now a partner at Crumpton Group, a business intelligence firm, told me that it will take a major push not just from America’s intelligence agencies but from the U.S. government overall to find the right strategy. And despite the Trump administration’s combative stance on trade negotiations and other issues, this has yet to happen. “The approach must be whole of government and must involve the private sector,” Faraon said. “The Chinese use and value intelligence better than we do, seeing its applicability in nearly every aspect of private and public life—military, social, commercial. We have been slow to recognize this for ourselves.
https://www.theatlantic.com/politics/archive/2019/08/inside-us-china-espionage-war/595747/

Story 3: Big Brother Is Watching Every Move You Make With Social Credit System — Chinese Communist Control  Digital Dictatorship Surveillance State — From Authoritarian to Totalitarian State — Socialist Serfs —   Videos

The Police – Every Breath You Take (Official Music Video)

The Police – Every breath you take lyrics

Social surveillance in China – Credit or control? | DW Documentary

China’s Secret File on Everyone

Big Brother is watching you: How China is ranking its citizens

Exposing China’s Digital Dystopian Dictatorship | Foreign Correspondent

A Look Inside China’s Social Credit System | NBC News Now

Hong Kong police fire live round warning shot and use water cannon on protesters

China ranks ‘good’ and ‘bad’ citizens with ‘social credit’ system

China Expert Gordon Chang On Its Social Credit Rating System & Surveillance State

China’s TERRIFYING Social Credit System

Inside China’s High-Tech Dystopia

China Social Credit System: Beijing plans to go full on Big Brother in 2020 – TomoNews

China’s “Social Credit System” Has Caused More Than Just Public Shaming (HBO)

Chinese “Social Credit System” rewards Obedient Citizens – Infowars News 12/24

China’s Secret Plan to Control the Internet | China Uncensored

20 Years Ago, This Changed China Forever: Here Are 5 Ways | China Uncensored

Big Brother: China Edition!

1984 Introduction

What is 1984?

 

Uh-oh: Silicon Valley is building a Chinese-style social credit system

In China, scoring citizens’ behavior is official government policy. U.S. companies are increasingly doing something similar, outside the law.

Uh-oh: Silicon Valley is building a Chinese-style social credit system
[Images: Rawf8/iStock; zhudifeng/iStock]

Have you heard about China’s social credit system? It’s a technology-enabled, surveillance-based nationwide program designed to nudge citizens toward better behavior. The ultimate goal is to “allow the trustworthy to roam everywhere under heaven while making it hard for the discredited to take a single step,” according to the Chinese government.

In place since 2014, the social credit system is a work in progress that could evolve by next year into a single, nationwide point system for all Chinese citizens, akin to a financial credit score. It aims to punish for transgressions that can include membership in or support for the Falun Gong or Tibetan Buddhism, failure to pay debts, excessive video gaming, criticizing the government, late payments, failing to sweep the sidewalk in front of your store or house, smoking or playing loud music on trains, jaywalking, and other actions deemed illegal or unacceptable by the Chinese government.

It can also award points for charitable donations or even taking one’s own parents to the doctor.

Punishments can be harsh, including bans on leaving the country, using public transportation, checking into hotels, hiring for high-visibility jobs, or acceptance of children to private schools. It can also result in slower internet connections and social stigmatization in the form of registration on a public blacklist.

China’s social credit system has been characterized in one pithy tweet as “authoritarianism, gamified.”

Authoritarianism, gamified. https://www.privateinternetaccess.com/blog/2015/10/in-china-your-credit-score-is-now-affected-by-your-political-opinions-and-your-friends-political-opinions/  ht @VitalikButerin @FrankPasquale

In China, Your Credit Score Is Now Affected By Your Political Opinions – And Your Friends’ Politi…

China just introduced a universal credit score, where everybody is measured as a number between 350 and 950. But this credit score isn’t just affected by how well you manage credit – it also reflects…

privateinternetaccess.com

At present, some parts of the social credit system are in force nationwide and others are local and limited (there are 40 or so pilot projects operated by local governments and at least six run by tech giants like Alibaba and Tencent).

Beijing maintains two nationwide lists, called the blacklist and the red list—the former consisting of people who have transgressed, and the latter people who have stayed out of trouble (a “red list” is the Communist version of a white list.) These lists are publicly searchable on a government website called China Credit.

The Chinese government also shares lists with technology platforms. So, for example, if someone criticizes the government on Weibo, their kids might be ineligible for acceptance to an elite school.

Public shaming is also part of China’s social credit system. Pictures of blacklisted people in one city were shown between videos on TikTok in a trial, and the addresses of blacklisted citizens were shown on a map on WeChat.

Some Western press reports imply that the Chinese populace is suffocating in a nationwide Skinner box of oppressive behavioral modification. But some Chinese are unaware that it even exists. And many others actually like the idea. One survey found that 80% of Chinese citizens surveyed either somewhat or strongly approve of social credit system.

IT CAN HAPPEN HERE

Many Westerners are disturbed by what they read about China’s social credit system. But such systems, it turns out, are not unique to China. A parallel system is developing in the United States, in part as the result of Silicon Valley and technology-industry user policies, and in part by surveillance of social media activity by private companies.

Here are some of the elements of America’s growing social credit system.

INSURANCE COMPANIES

The New York State Department of Financial Services announced earlier this year that life insurance companies can base premiums on what they find in your social media posts. That Instagram pic showing you teasing a grizzly bear at Yellowstone with a martini in one hand, a bucket of cheese fries in the other, and a cigarette in your mouth, could cost you. On the other hand, a Facebook post showing you doing yoga might save you money. (Insurance companies have to demonstrate that social media evidence points to risk, and not be based on discrimination of any kind—they can’t use social posts to alter premiums based on race or disability, for example.)

The use of social media is an extension of the lifestyle questions typically asked when applying for life insurance, such as questions about whether you engage in rock climbing or other adventure sports. Saying “no,” but then posting pictures of yourself free-soloing El Capitan, could count as a “yes.”

PATRONSCAN

A company called PatronScan sells three products—kiosk, desktop, and handheld systems—designed to help bar and restaurant owners manage customers. PatronScan is a subsidiary of the Canadian software company Servall Biometrics, and its products are now on sale in the United States, Canada, Australia, and the United Kingdom.

PatronScan helps spot fake IDs—and troublemakers. When customers arrive at a PatronScan-using bar, their ID is scanned. The company maintains a list of objectionable customers designed to protect venues from people previously removed for “fighting, sexual assault, drugs, theft, and other bad behavior,” according to its website. A “public” list is shared among all PatronScan customers. So someone who’s banned by one bar in the U.S. is potentially banned by all the bars in the U.S., the U.K., and Canada that use the PatronScan system for up to a year. (PatronScan Australia keeps a separate system.)

Judgment about what kind of behavior qualifies for inclusion on a PatronScan list is up to the bar owners and managers. Individual bar owners can ignore the ban, if they like. Data on non-offending customers is deleted in 90 days or less. Also: PatronScan enables bars to keep a “private” list that is not shared with other bars, but on which bad customers can be kept for up to five years.

PatronScan does have an “appeals” process, but it’s up to the company to grant or deny those appeals.

UBER AND AIRBNB

Thanks to the sharing economy, the options for travel have been extended far beyond taxis and hotels. Uber and Airbnb are leaders in providing transportation and accommodation for travelers. But there are many similar ride-sharing and peer-to-peer accommodations companies providing similar services.

Airbnb—a major provider of travel accommodation and tourist activities—bragged in March that it now has more than 6 million listings in its system. That’s why a ban from Airbnb can limit travel options.

Airbnb can disable your account for life for any reason it chooses, and it reserves the right to not tell you the reason. The company’s canned message includes the assertion that “This decision is irreversible and will affect any duplicated or future accounts. Please understand that we are not obligated to provide an explanation for the action taken against your account.” The ban can be based on something the host privately tells Airbnb about something they believe you did while staying at their property. Airbnb’s competitors have similar policies.

It’s now easy to get banned by Uber, too. Whenever you get out of the car after an Uber ride, the app invites you to rate the driver. What many passengers don’t know is that the driver now also gets an invitation to rate you. Under a new policy announced in May: If your average rating is “significantly below average,” Uber will ban you from the service.

WHATSAPP

You can be banned from communications apps, too. For example, you can be banned on WhatsApp if too many other users block you. You can also get banned for sending spam, threatening messages, trying to hack or reverse-engineer the WhatsApp app, or using the service with an unauthorized app.

WhatsApp is small potatoes in the United States. But in much of the world, it’s the main form of electronic communication. Not being allowed to use WhatsApp in some countries is as punishing as not being allowed to use the telephone system in America.

WHAT’S WRONG WITH SOCIAL CREDIT, ANYWAY?

Nobody likes antisocial, violent, rude, unhealthy, reckless, selfish, or deadbeat behavior. What’s wrong with using new technology to encourage everyone to behave?

The most disturbing attribute of a social credit system is not that it’s invasive, but that it’s extralegal. Crimes are punished outside the legal system, which means no presumption of innocence, no legal representation, no judge, no jury, and often no appeal. In other words, it’s an alternative legal system where the accused have fewer rights.

Social credit systems are an end-run around the pesky complications of the legal system. Unlike China’s government policy, the social credit system emerging in the U.S. is enforced by private companies. If the public objects to how these laws are enforced, it can’t elect new rule-makers.

An increasing number of societal “privileges” related to transportation, accommodations, communications, and the rates we pay for services (like insurance) are either controlled by technology companies or affected by how we use technology services. And Silicon Valley’s rules for being allowed to use their services are getting stricter.

If current trends hold, it’s possible that in the future a majority of misdemeanors and even some felonies will be punished not by Washington, D.C., but by Silicon Valley. It’s a slippery slope away from democracy and toward corporatocracy.

In other words, in the future, law enforcement may be determined less by the Constitution and legal code, and more by end-user license agreements.

 

Story 4: Live Fire Used in Hong Kong Protest —  Videos —

Pence urges China to respect HK laws amid protest | The Straits Times

The many faces of the Hong Kong protests

Hong Kong protests turn violent as police fire live ammunition

Hong Kong protests turn violent as police use water cannons

Violence escalates on the streets of Hong Kong | DW News

Hong Kong: Police fire live round for first time as violence intensifies

Facts tell: Did Hong Kong police point guns at civilian? 香港警察槍指平民?

Hong Kong protesters throw bricks and petrol bombs at riot police

Hong Kong police arrest 29 after clashes, more protests planned

Hong Kong conflict causing schisms within families

Steve Bannon: If There Is Another Tiananmen in Hong Kong, the CCP Will Collapse | Zooming I

The messages behind Hong Kong’s foreign flags

Hong Kong protesters fight back with TENNIS RACQUETS to volley back tear gas after police opened fire with live bullets for the first time during weeks of demonstrations

  • Pro-democracy protesters were seen armed with metal poles and sports equipment to protect themselves 
  • An afternoon rally in the district of Tsuen Wan spiralled into violent clashes between police and proteters
  • Police fired live bullets for the first time in the weeks-long demonstrations which have rocked Hong Kong 

Protesters in Hong Kong are using tennis racquets to fend off tear gas while police fired live bullets for the first time in the weeks-long demonstrations.

Pro-democracy protesters were seen armed with metal poles and sports equipment to protect themselves from a police crackdown amid escalating tensions in the city.

An afternoon rally in the district of Tsuen Wan spiralled into violent clashes on Sunday with officers caught isolated by masked youths wielding sticks and throwing rocks.

Tensions escalated when police began hoisting warning flags before firing tear gas in an attempt to disperse the crowd, who reacted angrily by throwing bricks and molotov cocktails.

In one instance, several police officers drew their sidearms. ‘According to my understanding, just now a gunshot was fired by a colleague,’ Superintendent Leung Kwok Win told the press.

‘My initial understanding was that it was a uniformed policeman who fired his gun.’

Scroll down for video

Protesters in Hong Kong are using tennis racquets to fend off tear gas after police fired live bullets for the first time in the weeks-long demonstration

Protesters in Hong Kong are using tennis racquets to fend off tear gas after police fired live bullets for the first time in the weeks-long demonstration

Pro-democracy protesters were seen armed with sports equipment to protect themselves from a police crackdown amid escalating tensions in the city

Pro-democracy protesters were seen armed with sports equipment to protect themselves from a police crackdown amid escalating tensions in the city

A Hong Kong police officer fired at least one gunshot Sunday, the first time a live round has been used during three months of protests. Above: Officers point their guns at protesters on the streets of Tsuen Wan, Hong Kong

A Hong Kong police officer fired at least one gunshot Sunday, the first time a live round has been used during three months of protests. Above: Officers point their guns at protesters on the streets of Tsuen Wan, Hong Kong

There has been a worrying change in the methods being used by city police to break up the crowds, with one instance where several police officers drew their sidearms, an AFP reporter at the scene said

There has been a worrying change in the methods being used by city police to break up the crowds, with one instance where several police officers drew their sidearms, an AFP reporter at the scene said

A protester clad in a gas mask and other protective gear throws a brick at police during a clash at an anti-government rally in Tsuen Wan district to the north of the Hong Kong's Victoria Harbour on Sunday

Another protestor, wearing the symbolic yellow helmet, is held down by two officers in riot gear as the police force clears out a street previously held by protestors

Another protestor, wearing the symbolic yellow helmet, is held down by two officers in riot gear as the police force clears out a street previously held by protestors

Tens of thousands of protesters skirmished with police in Hong Kong for a second straight day on Sunday following a pro-democracy march in an outlying district. After hoisting warning flags, police used tear gas to try to disperse the crowd. Above: A protester throws a Molotov cocktail at police

Tens of thousands of protesters skirmished with police in Hong Kong for a second straight day on Sunday following a pro-democracy march in an outlying district. After hoisting warning flags, police used tear gas to try to disperse the crowd. Above: A protester throws a Molotov cocktail at police

Flames from molotov cocktails and petrol bombs linger on the road and pavement after anti-extradition bill protesters clashed with riot police during a protest to demand democracy and political reforms, at Tsuen Wan, in Hong Kong this evening

Flames from molotov cocktails and petrol bombs linger on the road and pavement after anti-extradition bill protesters clashed with riot police during a protest to demand democracy and political reforms, at Tsuen Wan, in Hong Kong this evening

A makeshift barricade of bollards and railings separates protestors from police officers as night falls across Hong Kong

A makeshift barricade of bollards and railings separates protestors from police officers as night falls across Hong Kong

It was unclear where the shot was aimed, but it was the first live round fired since the protests started three months ago.

The Hong Kong Free Press reported that three officers drew pistols in Tsuen Wan, a built up north of the main city, as two ‘got on their knees’ to beg the officers not to fire any shots.

There was a sense of chaos across swathes of the Kowloon peninsula, over the harbour from the main island of Hong Kong, with police sirens blaring, tear gas wafting throughout densely populated areas and running clashes on the streets.

The skirmishes between police and tens of thousands of protesters occurred for a second straight day yesterday following a pro-democracy march from a sports stadium in Kwai Fong to Tsuen Wan.

While a large crowd rallied in a nearby park, another group of protesters took over a main street, strewing bamboo poles on the pavement and lining up orange and white traffic barriers and cones to try to obstruct the police.

One woman looked undeterred by a police officer clutching a baton as she faced him while holding a purple umbrella above her head

One woman looked undeterred by a police officer clutching a baton as she faced him while holding a purple umbrella above her head

While a large crowd rallied in a nearby park, another group of protesters took over a main street, strewing bamboo poles on the pavement and lining up orange and white traffic barriers and cones to try to obstruct the police. Above: Police fire tear gas at protesters

While a large crowd rallied in a nearby park, another group of protesters took over a main street, strewing bamboo poles on the pavement and lining up orange and white traffic barriers and cones to try to obstruct the police. Above: Police fire tear gas at protesters

After hoisting warning flags, police used tear gas to try to disperse the crowd. Protesters responded by throwing bricks and gasoline bombs toward the police

After hoisting warning flags, police used tear gas to try to disperse the crowd. Protesters responded by throwing bricks and gasoline bombs toward the police 

The result was a surreal scene of small fires and scattered paving bricks on the street between the two, rising clouds of tear gas and green and blue laser lights pointed by the protesters at the police. Above: Riot police aim their guns at protesters

The result was a surreal scene of small fires and scattered paving bricks on the street between the two, rising clouds of tear gas and green and blue laser lights pointed by the protesters at the police. Above: Riot police aim their guns at protesters

Police also carried riot shields and wore body armour, helmets and gas masks to defend against projectiles which were hurled at them in response to their tear gas

Some protesters wore protective gear including helmets and gas masks to guard against tear gas volleys by police. One mn (right) appeared to be holding his own weapon

Some protesters wore protective gear including helmets and gas masks to guard against tear gas volleys by police. One mn (right) appeared to be holding his own weapon

The demonstrators were not deterred by police as they charged towards them. Their defiance was despite multiple warnings by the Chinese government that the protests must stop

The demonstrators were not deterred by police as they charged towards them. Their defiance was despite multiple warnings by the Chinese government that the protests must stop

Some police drew their weapons as the clashes with protesters escalated. Sunday's reported gunshots were the first in the three months of pro-democracy protests

Some police drew their weapons as the clashes with protesters escalated. Sunday’s reported gunshots were the first in the three months of pro-democracy protests

Multiple photographers surrounded one officer with clutching his gun as they looked to record what was going on

After hoisting warning flags, police used tear gas to try to disperse the crowd. Protesters responded by throwing bricks and gasoline bombs toward the police.

The result was a surreal scene of small fires and scattered paving bricks on the street between the two, rising clouds of tear gas and green and blue laser lights pointed by the protesters at the police.

Prior to the skirmishes, tens of thousands of umbrella-carrying protesters marched in the rain in Hong Kong’s latest pro-democracy demonstration.

Many filled Tsuen Wan Park, the endpoint of the rally, chanting, ‘Fight for freedom, stand with Hong Kong,’ the South China Morning Post newspaper said.

What do Hong Kong protesters want?

Apart from the resignation of Chief Executive Carrie Lam, Hong Kong demonstrators have listed five demands and have continued to urge the government to respond to them.

These five demands are:

1. A complete withdrawal of the extradition bill

2. A retraction from the government to its characterisation that the protesters were ‘rioters’

3. Unconditional and immediate release of protesters who were arrested and charges against them dropped

4. Establishment of an independent enquiry to investigate police violence during clashes

5. Genuine universal suffrage

The protests began with people gathering at a sports stadium in Kwai Fong, western Hong Kong, where they then marched to nearby Tsuen Wan and clashed with police. 

The Chinese-ruled city’s rail operator, MTR Corp, had suspended some services to try to prevent people gathering.

M. Sung, a 53-year-old software engineer in a black mask emblematic of the many older, middle-class citizens at the march, said he had been at almost every protest and would keep coming.

‘We know this is the last chance to fight for ‘one country, two systems’, otherwise the Chinese Communist Party will penetrate our home city and control everything,’ he said.

‘If we keep a strong mind, we can sustain this movement for justice and democracy. It won’t die,’ Sung said.

Hong Kong has been gripped by three months of street demonstrations that started against a proposed extradition bill to China, but have spun out into a wider pro-democracy movement.

Protesters say they are fighting the erosion of the ‘one country, two systems’ arrangement under which the former British colony returned to China in 1997 with the promise of continued freedoms not enjoyed on the mainland. 

The protests pose a direct challenge for Communist Party leaders in Beijing, who are eager to quell the unrest ahead of the 70th anniversary of the founding of the People’s Republic of China on Oct. 1.

Beijing has sent a clear warning that forceful intervention is possible, with paramilitary forces holding drills just over the border.

The Chinese Government has used a mix of intimidation, propaganda and economic muscle to constrict the protests in a strategy dubbed ‘white terror’ by the movement.

The MTR – the city’s metro – is the latest Hong Kong business to be rebuked by the public, after appearing to bend to Chinese state-media attacks accusing the transport system of being an ‘exclusive’ service to ferry protesters to rallies.

Yesterday, the MTR shut stations near the main demonstration area in Tsuen Wan, the second day of station closures in a row

As photographers took pictures, a Hong Kong officers were seen with their guns out as they clashed with protesters againAs photographers took pictures, a Hong Kong officers were seen with their guns out as they clashed with protesters again

Demonstrators also carried lasers which they shined into the eyes of police in an effort to hit back against their volleys of tear gas

One protester who was caught by police looked up fearfully at an officer as they tended to injuries he had suffered in clashes

The officer appeared to shine a light into the man's eyes while others stood guard around him as others continued to protest

The officer appeared to shine a light into the man’s eyes while others stood guard around him as others continued to protest

Riot police successfully detain one protester who is seen lying on their stomach with their hands on the wet road as officers talk to each other

Riot police successfully detain one protester who is seen lying on their stomach with their hands on the wet road as officers talk to each other

Hong Kong was filled with clouds of tear gas as the sun began to go down in the region and protesters stayed on the streets

Hong Kong was filled with clouds of tear gas as the sun began to go down in the region and protesters stayed on the streets

Some were armed with metal bars and wore helmets, goggles and gas masks for protection. Others wore body armour, including one man whose arms and chest were covered in protective gear

Some were armed with metal bars and wore helmets, goggles and gas masks for protection. Others wore body armour, including one man whose arms and chest were covered in protective gear

Lines of police were matched by masses of protesters who stood behind makeshift barriers. Many of those protesting wore yellow helmets and held umbrellas aloft

Lines of police were matched by masses of protesters who stood behind makeshift barriers. Many of those protesting wore yellow helmets and held umbrellas aloft

Bamboo poles were left strewn over the street as protesters tried to build barricades to push back the police in Tsuen Wan

Bamboo poles were left strewn over the street as protesters tried to build barricades to push back the police in Tsuen Wan 

Many protesters filled Tsuen Wan Park, the endpoint of the rally, chanting, 'Fight for freedom, stand with Hong Kong,' the South China Morning Post newspaper said

Some protesters, undeterred by the robust police response, threw projectiles including Molotov cocktails at police

Some protesters, undeterred by the robust police response, threw projectiles including Molotov cocktails at police

Other protesters were seen cowering in the streets of Tsuen Wan while wearing gas masks and helmets and holding umbrellas

Other protesters were seen cowering in the streets of Tsuen Wan while wearing gas masks and helmets and holding umbrellas

Some rioters were detained by police, including one woman who cowered on the floor with her head bowed as two officers with shields and batons stood over her

Some rioters were detained by police, including one woman who cowered on the floor with her head bowed as two officers with shields and batons stood over her

The protesters filled Hong Kong's streets, with thousands holding umbrellas over their heads both as protection against the rain and as a reference to the original 'Umbrella Movement' in 2014

The protesters filled Hong Kong’s streets, with thousands holding umbrellas over their heads both as protection against the rain and as a reference to the original ‘Umbrella Movement’ in 2014 

The protests began with people gathering at a sports stadium in Kwai Fong, western Hong Kong, where they then marched to nearby Tsuen Wan and clashed with police. The Chinese-ruled city's rail operator, MTR Corp, had suspended some services to try to prevent people gathering

The protests began with people gathering at a sports stadium in Kwai Fong, western Hong Kong, where they then marched to nearby Tsuen Wan and clashed with police. The Chinese-ruled city’s rail operator, MTR Corp, had suspended some services to try to prevent people gathering

Protesters were not afraid to have physical clashes with police as they were seen fighting with officers. Above: One policeman crouches on the floor as a protester stands over him with a metal bar

Protesters were not afraid to have physical clashes with police as they were seen fighting with officers. Above: One policeman crouches on the floor as a protester stands over him with a metal bar

Despite the defiance of protesters, a seemingly-endless stream of police filled the streets to deal with demonstrations

Despite the defiance of protesters, a seemingly-endless stream of police filled the streets to deal with demonstrations

Many of those clashes with officers were dressed in helmets and face coverings and some had makeshift weapons

Many of those clashes with officers were dressed in helmets and face coverings and some had makeshift weapons

As well as clashing with police, a hoard of protesters were seen breaking into and trashing a restaurant in Tsuen Wan

As well as clashing with police, a hoard of protesters were seen breaking into and trashing a restaurant in Tsuen Wan

After smashing windows, protesters were seen standing amid upturned tables and chairs and shards of broken glass

After smashing windows, protesters were seen standing amid upturned tables and chairs and shards of broken glass

Some protesters used metal poles to smash the window of a shop run by mainland Chinese people where Mahjong - a traditional Chinese domino-like tile game - can be played. The tactics are likely to further anger the Chinese government

Some protesters used metal poles to smash the window of a shop run by mainland Chinese people where Mahjong – a traditional Chinese domino-like tile game – can be played. The tactics are likely to further anger the Chinese government

After the windows were smashed, people inside huddled in a doorway while one man sitting at a table appeared to be crying

After the windows were smashed, people inside huddled in a doorway while one man sitting at a table appeared to be crying

Worried-looking Hong Kong residents stood and watched the protesters break into the shop. The residents have witnessed three months of ongoing protests

Worried-looking Hong Kong residents stood and watched the protesters break into the shop. The residents have witnessed three months of ongoing protests

In another Mahjong venue, broken glass was pictured scattered over the floor while a man peered through a doorway at the back of the room

Police facing protesters were backed up by trucks firing water cannon which helped to knock down makeshift barricades

Police facing protesters were backed up by trucks firing water cannon which helped to knock down makeshift barricades

Officers were seen walking through the streets behind and  head of police vans as protesters massed up ahead of them

Officers were seen walking through the streets behind and  head of police vans as protesters massed up ahead of them

A petrol bomb thrown on the road  by a protester lands next to police officers who keep a safe distance from leaping flames

A petrol bomb thrown on the road  by a protester lands next to police officers who keep a safe distance from leaping flames

Bricks thrown by protesters are seen near tear gas fired by the police during violent clashes between officers and those on the streets

Bricks thrown by protesters are seen near tear gas fired by the police during violent clashes between officers and those on the streets

One protester holds an umbrella as they react to the haze of tear gas which hung over the streets of Hong Kong for much of the day

One protester holds an umbrella as they react to the haze of tear gas which hung over the streets of Hong Kong for much of the day

A second rally of a few hundred, some of them family members of police, was also held on Sunday afternoon.

One relative, who said she was the wife of an officer, said they had received enough criticism. ‘I believe within these two months, police have got enough opprobrium.’

‘I really want you to know even if the whole world spits on you, we as family members will not,’ she said, giving her surname only as Si.

Police said they would launch a ‘dispersal operation’ soon.

‘Some radical protesters have removed railings … and set up barricades with water-filled barriers, bamboo sticks, traffic cones and other objects,’ they said in a statement. ‘Such acts neglect the safety of citizens and road users, paralysing traffic in the vicinity.

‘Remember, your job is to serve Hong Kong residents, not be the enemies of Hong Kong.’

The city’s officers are often the focus of protesters’ anger because of their perceived heavy-handling of the rallies.

The neighbouring gambling territory of Macau, a former Portuguese colony that returned to Chinese rule in 1999, elected former legislature head Ho Iat Seng as its leader on Sunday – the sole approved candidate.

One defiant-looking man is detained by officers as they continue to try to deal with the ongoing protests which have rocked Hong Kong

One defiant-looking man is detained by officers as they continue to try to deal with the ongoing protests which have rocked Hong Kong

One protester held an egg above his head as he prepares to launch it at police while others cower behind him

One protester held an egg above his head as he prepares to launch it at police while others cower behind him

One protester held a tennis racket as he and others fled from a tear gas canister. Yesterday, the MTR shut stations near the main demonstration area in Tsuen Wan, the second day of station closures in a row

One protester held a tennis racket as he and others fled from a tear gas canister. Yesterday, the MTR shut stations near the main demonstration area in Tsuen Wan, the second day of station closures in a row

A demonstrator uses a slingshot as they clash with riot police during Sunday's protest in Tsuen Wan in Hong Kong

A demonstrator uses a slingshot as they clash with riot police during Sunday’s protest in Tsuen Wan in Hong Kong

Protesters who were not cowed by tear gas from police used slingshots to fire bricks back at them. Many wore gas masks to guard against tear gas

Protesters who were not cowed by tear gas from police used slingshots to fire bricks back at them. Many wore gas masks to guard against tear gas

This man wearing a gas mask had a closed umbrella in one hand and some kind of inflatable in the other as he faced the police

This man wearing a gas mask had a closed umbrella in one hand and some kind of inflatable in the other as he faced the police

Protesters constructed barricades from road barriers and wooden pallets as they faced police amid a cloud of tear gas which had been fired by officers

Protesters constructed barricades from road barriers and wooden pallets as they faced police amid a cloud of tear gas which had been fired by officers

An anti-riot police vehicle equipped with a water cannon clears the road from a barricade set up by protesters during an anti-government rally in Kwai Fung and Tsuen Wan, Hong Kong

An anti-riot police vehicle equipped with a water cannon clears the road from a barricade set up by protesters during an anti-government rally in Kwai Fung and Tsuen Wan, Hong Kong

Some protesters wore gas masks to protect against a barrage of tear gas from police in Tsuen Wan, Hong Kong

Some protesters wore gas masks to protect against a barrage of tear gas from police in Tsuen Wan, Hong Kong

Many crouched behind makeshift barriers while others watched the clashes from inside a glass-panelled walkway above

Many crouched behind makeshift barriers while others watched the clashes from inside a glass-panelled walkway above

Riot police wearing gas masks and armed with batons walked in front of a water cannon truck as they continued to respond to the ongoing protests

Riot police wearing gas masks and armed with batons walked in front of a water cannon truck as they continued to respond to the ongoing protests

Some protesters threw slightly less dangerous projectiles at police, in the form of eggs. One man (above) was pictured throwing an egg and he had a plentiful supply behind him

Some protesters threw slightly less dangerous projectiles at police, in the form of eggs. One man (above) was pictured throwing an egg and he had a plentiful supply behind him

Even though most protesters engaging in clashes with police were wearing as masks, officers continued to fire volleys of tear gas at them

Even though most protesters engaging in clashes with police were wearing as masks, officers continued to fire volleys of tear gas at them

Battle lines drawn: protesters and police faced each other in the street in Tsuen Wan in Hong Kong. Demonstrators stood behind makeshift barricades while officers held up riot shields

Battle lines drawn: protesters and police faced each other in the street in Tsuen Wan in Hong Kong. Demonstrators stood behind makeshift barricades while officers held up riot shields

One protester used spray paint to scrawl on the wall 'Absolute power corrupts absolutely' - a chilling hint that the Chinese government may impose a further crackdown on protesters

The city had earlier appeared to have pulled back from a sharp nosedive into violence, with the last serious confrontation taking place more than a week ago, shortly after protests paralysed the financial hub's airport. But Sunday's clashes again brought more violence. Above: A man helps a fellow protester as he falls to the floor amid the heavy use of tear gas by police

The city had earlier appeared to have pulled back from a sharp nosedive into violence, with the last serious confrontation taking place more than a week ago, shortly after protests paralysed the financial hub’s airport. But Sunday’s clashes again brought more violence. Above: A man helps a fellow protester as he falls to the floor amid the heavy use of tear gas by police

One man defiantly waved his middle finger at police as he stood behind makeshift barricades and others cowered in the face of tear gas

One man defiantly waved his middle finger at police as he stood behind makeshift barricades and others cowered in the face of tear gas

Some officers appeared to be in plain clothes as they clashed with protesters for the second straight day in what has been three months of ongoing protests

Some officers appeared to be in plain clothes as they clashed with protesters for the second straight day in what has been three months of ongoing protests

Amid the use of tear gas by police, protesters were pictured running away while wearing gas masks and holding umbrellas

Amid the use of tear gas by police, protesters were pictured running away while wearing gas masks and holding umbrellas

Children were pictured with their parents during some of yesterday's protests as thousands of people took to the streets

Children were pictured with their parents during some of yesterday’s protests as thousands of people took to the streets

Protesters were armed with metal poles and even tennis rackets as dozens of people watched the clashes with police from a walkway above the street

Protesters were armed with metal poles and even tennis rackets as dozens of people watched the clashes with police from a walkway above the street

Protesters broke into restaurants during clashes. Above: A group of six men use metal poles to smash the glass of one venue

Protesters broke into restaurants during clashes. Above: A group of six men use metal poles to smash the glass of one venue

One protester reaches out at what appears to be a tear gas canister as it sprays out gas intended to subdue protesters

One protester reaches out at what appears to be a tear gas canister as it sprays out gas intended to subdue protesters

Ho, who has deep ties to China, is expected to cement Beijing’s control over the ‘special administrative region’, the same status given to Hong Kong, and distance it from the unrest there.

Ten people were left in hospital after Saturday’s clashes in Hong Kong – two in a serious condition – staff said, without detailing if they were police or protesters.

Saturday’s clashes saw police baton-charge protesters and fire tear gas, while demonstrators threw rocks and bottles later into the night in a working-class neighbourhood.

The city had earlier appeared to have pulled back from a sharp nosedive into violence, with the last serious confrontation taking place more than a week ago, shortly after protests paralysed the financial hub’s airport.

Demonstrations started against a bill that would have allowed extradition to China, but have bled into wider calls for democracy and police accountability in the semi-autonomous city.

Protesters say Hong Kong’s unique freedoms are in jeopardy as Beijing tightens its political choke hold on the city.

Police fired volleys of tear gas throughout clashes with demonstrators as they attempted to quell the ongoing protests

Police fired volleys of tear gas throughout clashes with demonstrators as they attempted to quell the ongoing protests

Protesters wearing helmets, gas masks and gloves wield makeshift weapons. Others hold lasers and shine them at police

Protesters wearing helmets, gas masks and gloves wield makeshift weapons. Others hold lasers and shine them at police

Violent clashes between police and protesters saw officers wielding their batons and riot shields as their opponents held makeshift weapons

Violent clashes between police and protesters saw officers wielding their batons and riot shields as their opponents held makeshift weapons

A protester holds his arm out as a policeman prepares to hit him with his baton. The protests have seen further violence descend onto the streets of Hong Kong

A protester holds his arm out as a policeman prepares to hit him with his baton. The protests have seen further violence descend onto the streets of Hong Kong

Some police were dressed in plain clothes as they clashed with demonstrators. Above: An officer cries out as a protester smashes a metal bar against his shield

Some police were dressed in plain clothes as they clashed with demonstrators. Above: An officer cries out as a protester smashes a metal bar against his shield

Some protesters directed laser pens towards police as the streets were filled with thousands of people in Hong Kong

Some protesters directed laser pens towards police as the streets were filled with thousands of people in Hong Kong

M. Sung, a 53-year-old software engineer in a black mask emblematic of the many older, middle-class citizens at the march, said he had been at almost every protest and would keep coming. 'We know this is the last chance to fight for 'one country, two systems', otherwise the Chinese Communist Party will penetrate our home city and control everything,' he said. Above: A protester holds up a sign reading 'corrupt police return eyes to victims' as demonstrators march in the rain

M. Sung, a 53-year-old software engineer in a black mask emblematic of the many older, middle-class citizens at the march, said he had been at almost every protest and would keep coming. ‘We know this is the last chance to fight for ‘one country, two systems’, otherwise the Chinese Communist Party will penetrate our home city and control everything,’ he said. Above: A protester holds up a sign reading ‘corrupt police return eyes to victims’ as demonstrators march in the rain

Hong Kong has been gripped by three months of street demonstrations that started against a proposed extradition bill to China , but have spun out into a wider pro-democracy movement. Above: Protesters also carried bamboo sticks to block a road during the protests. Yesterday, riot police fired tear gas and baton-charged protesters who retaliated with a barrage of the bamboo poles, stones and bottles

Hong Kong has been gripped by three months of street demonstrations that started against a proposed extradition bill to China , but have spun out into a wider pro-democracy movement. Above: Protesters also carried bamboo sticks to block a road during the protests. Yesterday, riot police fired tear gas and baton-charged protesters who retaliated with a barrage of the bamboo poles, stones and bottles

Demonstrators used the poles to block a road. The MTR - the city's metro - is the latest Hong Kong business to be rebuked by the public, after appearing to bend to Chinese state-media attacks accusing the transport system of being an 'exclusive' service to ferry protesters to rallies

Demonstrators used the poles to block a road. The MTR – the city’s metro – is the latest Hong Kong business to be rebuked by the public, after appearing to bend to Chinese state-media attacks accusing the transport system of being an ‘exclusive’ service to ferry protesters to rallies

The protests pose a direct challenge for Communist Party leaders in Beijing, who are eager to quell the unrest ahead of the 70th anniversary of the founding of the People's Republic of China on Oct. 1. Above: Protesters march from Kwai Fung to Tsuen Wan in Hong Kong

 The protests pose a direct challenge for Communist Party leaders in Beijing, who are eager to quell the unrest ahead of the 70th anniversary of the founding of the People’s Republic of China on Oct. 1. Above: Protesters march from Kwai Fung to Tsuen Wan in Hong Kong

Some protesters were seen holding U.S. flags as they join marchers heading from Kwai Fung to Tsuen Wan, further north

Some protesters were seen holding U.S. flags as they join marchers heading from Kwai Fung to Tsuen Wan, further north

One woman, who said she was the wife of an officer, said the police had received enough criticism. 'I believe within these two months, police have got enough opprobrium'. Above: Riot police officers stand guard as protesters march in Tsuen Wan

One woman, who said she was the wife of an officer, said the police had received enough criticism. ‘I believe within these two months, police have got enough opprobrium’. Above: Riot police officers stand guard as protesters march in Tsuen Wan

In Tsuen Wan, demonstrators marched through the area, including one man who was seen in a yellow helmet and military vest

In Tsuen Wan, demonstrators marched through the area, including one man who was seen in a yellow helmet and military vest

Yesterday, the MTR shut stations near the main demonstration area in Tsuen Wan in western Hong Kong, it was the second day of station closures in a row. Above: Protesters march past rows of police

Yesterday, the MTR shut stations near the main demonstration area in Tsuen Wan in western Hong Kong, it was the second day of station closures in a row. Above: Protesters march past rows of police

Beijing has used a mix of intimidation, propaganda and economic muscle to constrict the protests in a strategy dubbed 'white terror' by the movement, but that has not stopped hundreds of thousands of protesters from gathering on their streets. Above: Protesters clutching umbrellas gather yesterday in Hong Kong

Beijing has used a mix of intimidation, propaganda and economic muscle to constrict the protests in a strategy dubbed ‘white terror’ by the movement, but that has not stopped hundreds of thousands of protesters from gathering on their streets. Above: Protesters clutching umbrellas gather yesterday in Hong Kong 

Demonstrators also removed road barriers during their march during through Kwai Fong, in Hong Kong yesterday

Ten people were left in hospital after Saturday’s clashes – two in a serious condition – staff said, without detailing if they were police or protesters

Saturday's clashes saw police baton-charge protesters and fire tear gas, while demonstrators threw rocks and bottles later into the night in a working-class neighbourhood

Saturday’s clashes saw police baton-charge protesters and fire tear gas, while demonstrators threw rocks and bottles later into the night in a working-class neighbourhood

On Friday, tens of thousands of people had held hands across Hong Kong in a dazzling, neon-framed recreation of a pro-democracy ‘Baltic Way’ protest against Soviet rule three decades ago.

The city’s skyscraper-studded harbour-front as well as several busy shopping districts were lined with peaceful protesters, many wearing surgical masks to hide their identity and holding Hong Kong flags or mobile phones with lights shining.

The human chain was another creative demonstration in the rolling protests which have tipped Hong Kong into an unprecedented political crisis.

Chinese state media says Hong Kong’s ‘toxic’ textbooks lead to protests

Chinese state newspaper has suggested that the cause of the anti-government protests in Hong Kong is the city’s education system, particularly its textbooks.

Tung Chee-hwa, the city’s first Chief Executive, has confessed that the General Education system in Hong Kong was a failure and the young generations became ‘problematic’ as a result, claimed People’s Daily in a column today.

The op-ed, penned by Professor Gu Minggang, said Hong Kong needed to reflect on its entire education system.

Protesters hold hands to form a human chain during a rally to call for political reforms in Hong Kong on August 23. Chinese media accused that the city's 'biased' and 'erroneous' textbooks had brought up a generation of 'useless youngsters'

The author said: ‘After Hong Kong returned to the arms of the motherland, the first and foremost issue to resolve should be to establish the concept of the country. The problem is, how many educators in Hong Kong have this notion?’

On Wednesday, China’s Guancha.cn called the General Education textbook in Hong Kong ‘toxic’, ‘biased’ and ‘erroneous’.

Citing Hong Kong’s pro-Beijing newspaper Wenweipo, Guancha.cn accused the textbook of encouraging pupils to hate police, promoting Occupy Central campaign and twisting facts.

The article said that the textbook had become a political propaganda and brought up a generation of ‘useless youngsters’.

https://www.dailymail.co.uk/news/article-7394069/Hong-Kong-protesters-fight-tennis-racquets.html

Story 5: Three Way Tie In Race For 2020 Democratic Presidential Canidate — Biden, Sander and Warren — Videos

Biden plunges, tied with Warren and Sanders in new national poll

Joe Biden Doesn’t Know What State He Is In

Published on Aug 24, 2019
In Keene, N.H., former Vice President Joe Biden told a press gaggle that he loves being in Vermont when asked about his time in Keene on 8/24/19. Be sure to like, subscribe, and comment below to share your thoughts on the video.

3-Way Lead as Dem 2020 Picture Shifts

Today

Sanders and Warren rise; Biden drops

West Long Branch, NJ – Vermont Sen. Bernie Sanders, Massachusetts Sen. Elizabeth Warren, and former Vice President Joe Biden are currently bunched together in the national Democratic presidential preference contest. Movement in the latest Monmouth University Poll – positive for Warren and Sanders, negative for Biden – suggests the 2020 presidential nomination process may be entering a volatile stage.  The poll results also suggest that liberal voters are starting to take a closer look at a wider range of candidates, while moderates are focusing on those with the highest name recognition.  Another key finding that could contribute to growing volatility in the race is confusion over “Medicare for All.” Most say support for this policy is an important factor in choosing a Democratic nominee, but voters actually prefer a public option over a single payer plan.

The poll finds a virtual three-way tie among Sanders (20%), Warren (20%), and Biden (19%) in the presidential nomination preferences of registered Democrats and Democratic-leaning voters across the country. Compared to Monmouth’s June poll, these results represent an increase in support for both Sanders (up from 14%) and Warren (up from 15%), and a significant drop for Biden (down from 32%).

Results for the rest of the field are fairly stable compared to two months ago. These candidates include California Sen. Kamala Harris at 8% support (identical to 8% in June), New Jersey Sen. Cory Booker at 4% (2% in June), South Bend Mayor Pete Buttigieg at 4% (5% in June), entrepreneur Andrew Yang at 3% (2% in June), former cabinet secretary Julián Castro at 2% (<1% in June), former Texas Rep. Beto O’Rourke at 2% (3% in June), and author Marianne Williamson at 2% (1% in June). Support for the remaining 13 candidates included in the preference poll registered only 1% or less.

Biden has suffered an across the board decline in his support since June.  He lost ground with white Democrats (from 32% to 18%) and voters of color (from 33% to 19%), among voters without a college degree (from 35% to 18%) and college graduates (from 28% to 20%), with both men (from 38% to 24%) and women (from 29% to 16%), and among voters under 50 years old (from 21% to 6%) as well as voters aged 50 and over (from 42% to 33%).  Most of Biden’s lost support in these groups shifted almost equally toward Sanders and Warren.

“The main takeaway from this poll is that the Democratic race has become volatile.  Liberal voters are starting to cast about for a candidate they can identify with.  Moderate voters, who have been paying less attention, seem to be expressing doubts about Biden. But they are swinging more toward one of the left-leaning contenders with high name recognition rather than toward a lesser known candidate who might be more in line with them politically,” said Patrick Murray, director of the independent Monmouth University Polling Institute.  He added, “It’s important to keep in mind this is just one snapshot from one poll.  But it does raise warning signs of increased churning in the Democratic nomination contest now that voters are starting to pay closer attention.”

Biden lost support over the past two months among Democrats who call themselves moderate or conservative (from 40% to 22%) with the shift among these voters accruing to both Sanders (from 10% to 20%) and Warren (from 6% to 16%).  Biden also lost support among liberals (from 24% to 15%), but this group’s backing has scattered to a variety of other candidates. Sanders has picked up a few points among liberal voters (from 17% to 21%) while Warren has held fairly steady (from 25% to 24%).  Also, Harris has not budged with this group (from 10% to 11%) and Buttigieg has slipped slightly (from 8% to 5%).  However, the aggregate support for four other candidates – namely Booker, Castro, Williamson and Yang – has gone up a total of 8 points among liberal Democrats (from 8% to 16% for the four combined).

The Monmouth poll also finds that Biden has lost his small edge in the early states where Democrats will cast ballots from February through Super Tuesday. His even larger lead in the later states has vanished as well.  Biden (20%), Warren (20%), Sanders (16%), and Harris (12%) are all in the top tier among voters in the early states. Biden has slipped by 6 points since June and Warren has gained 5 points over the same time span.  Early state support for Sanders and Harris has not changed much.  In the later states, Biden’s support has plummeted from 38% in June to 17% now, while both Warren (from 16% to 20%) and Sanders (from 13% to 23%) have made gains.

“Biden’s drop in support is coming disproportionately from later states that have less impact on the process. But if this trend continues it could spell trouble for him in the early states if it undermines his claim to being the most electable candidate.  This could benefit someone like Harris, who remains competitive in the early states and could use a strong showing there to propel her into the top tier.  Based on the current data, though, Warren looks like the candidate with the greatest momentum right now,” said Murray.

2020 DEMOCRATIC SUPPORT by state primary schedule *
EARLY STATES OTHER STATES
Aug‘19 Jun‘19 May‘19 Aug‘19 Jun‘19 May‘19
Elizabeth Warren 20% 15% 9% 20% 16% 11%
Joe Biden 20% 26% 26% 17% 38% 38%
Bernie Sanders 16% 15% 14% 23% 13% 16%
Kamala Harris 12% 11% 14% 5% 5% 8%
Cory Booker 2% 3% <1% 5% 1% 1%
Pete Buttigieg 4% 4% 6% 4% 6% 6%
Andrew Yang 5% 3% 2% 2% 1% 0%
Julián Castro 2% 1% 1% 2% <1% 0%
Beto O’Rourke 3% 6% 3% 1% 1% 4%
Marianne Williamson 1% 1% 1% 3% 1% 1%
  * Early states include those scheduled to or likely to hold a 
primary/caucus event in February 2020 or on Super Tuesday (March 3rd).

Warren has seen her personal ratings improve steadily over the past few months.  She currently earns a 65% favorable and 13% unfavorable rating, up from 60%-14% in May, the last time Monmouth tracked the 2020 candidate ratings.  At the same, time Biden has seen his ratings drop to 66% favorable and 25% unfavorable, from 74%-17% three months ago. The ratings for Sanders have been comparatively more stable at 64% favorable and 24% unfavorable compared with 65%-21% in Monmouth’s May poll.

At least 2-in-3 Democratic voters can now recognize the names of 11 candidates Monmouth has been tracking in terms of voter favorability since January.  Most have seen a small uptick in basic name recognition over the past three months of between 5 and 13 percentage points. The exceptions are Biden and Sanders on one hand, both of whom have been universally familiar to Democratic voters since the beginning of the campaign, and Williamson on the other hand, whose name recognition shot up 19 points from 48% in May to 67% in the current poll.  In Williamson’s case, though, the increased notoriety has led to a rise in negative views, currently earning her a 14% favorable and 25% unfavorable rating, which is down from an evenly divided 10%-10% rating in May.

Other candidates who have seen a downturn in their ratings are Harris at 56% favorable and 17% unfavorable (from 58%-9% in May) and Minnesota Sen. Amy Klobuchar at 27% favorable and 18% unfavorable (from 32%-10% in May).  Those who have seen a slight improvement in their ratings are Booker at 49% favorable and 14% unfavorable (from 41%-13% in May), Buttigieg at 43% favorable and 14% unfavorable (from 35%-11% in May), and Yang at 24% favorable and 12% unfavorable (from 12%-13% in May).  Candidates who are holding relatively steady are Castro at 35% favorable and 13% unfavorable (from 28%-10% in May) and O’Rourke at 39% favorable and 20% unfavorable (from 40%-19% in May).

2020 CANDIDATE OPINION AMONG DEMOCRATIC VOTERS
Net favorability rating: Aug ‘19 May ‘19 Apr ‘19 Mar ‘19 Jan ‘19
Elizabeth Warren +52 +46 +32 +30 +40
Joe Biden +41 +57 +56 +63 +71
Bernie Sanders +40 +44 +44 +53 +49
Kamala Harris +39 +49 +40 +42 +33
Cory Booker +35 +28 +24 +31 +33
Pete Buttigieg +29 +24 +29 n/a +2
Julián Castro +22 +18 n/a n/a +15
Beto O’Rourke +19 +21 +31 +26 +32
Andrew Yang +12 –1 n/a n/a 0
Amy Klobuchar +9 +22 +14 +13 +15
Marianne Williamson –11 0 n/a +4 n/a
     

The two most recent entrants in the crowded field earn net negative ratings. Former naval officer and Pennsylvania Rep. Joe Sestak has a negative 5% favorable and 11% unfavorable rating with 53% name recognition.  Former hedge fund manager Tom Steyer, who has spent heavily on advertising since getting into the race, earns a 9% favorable and 25% unfavorable rating with 70% name recognition.

On the issue of health care, 58% of party voters say it is very important to them that the Democrats nominate someone who supports “Medicare for All.”  Another 23% say it is somewhat important, 10% say it is not important, and 9% are unsure. However, it is not clear that Medicare for All means the same thing to all voters.  When asked specifically about what type of health insurance system they prefer, 53% of Democratic voters say they want a system that offers an opt in to Medicare while retaining the private insurance market. Just 22% say they want to move to a system where Medicare for All replaces private insurance. Another 7% prefer to keep insurance private for people under 65 but regulate the costs and 11% want to leave the system basically as it is now.

Those who prefer a public option are divided into two camps that include 18% who would like to move to a universal public insurance system eventually and 33% who say that there should always be the choice of private coverage.  In other words, only 4-in-10 Democrats want to get rid of the private insurance market when the 22% who want Medicare for All now are combined with the 18% who would like to move to a universal public system at some point in the future.

“We asked the public option question in our Iowa poll earlier this month and got a lot of flak from Medicare for All advocates who claim that polls show widespread support for their idea.  It seems from these results, though, the term has a wide range of meanings among Democratic voters. Many conflate the public-only program name with a public option.  There is a lot more nuance in public opinion on this issue that could become problematic for proponents as voters become more familiar with what Medicare for All actually entails,” said Murray.

The Monmouth University Poll was conducted by telephone from August 16 to 20, 2019 with 800 adults in the United States. Results in this release are based on 298 registered voters who identify as Democrats or lean toward the Democratic Party, which has a +/- 5.7 percentage point sampling margin of error.  The poll was conducted by the Monmouth University Polling Institute in West Long Branch, NJ.

QUESTIONS AND RESULTS     

(* Some columns may not add to 100% due to rounding.)

[Q1-13 previously released.]

14.I know the 2020 election is far away, but who would you support for the Democratic nomination for president if the candidates were the following? [INCLUDES LEANERS] [NAMES WERE ROTATED]

  TREND:
(with leaners)
Aug.
2019
June
2019
May
2019
April
2019
March
2019
Jan.
2019
Bernie Sanders 20% 14% 15% 20% 25% 16%
Elizabeth Warren 20% 15% 10% 6% 8% 8%
Joe Biden 19% 32% 33% 27% 28% 29%
Kamala Harris 8% 8% 11% 8% 10% 11%
Cory Booker 4% 2% 1% 2% 5% 4%
Pete Buttigieg 4% 5% 6% 8% <1% 0%
Andrew Yang 3% 2% 1% <1% 1% 1%
Julián Castro 2% <1% 1% <1% 1% 1%
Beto O’Rourke 2% 3% 4% 4% 6% 7%
Marianne Williamson 2% 1% 1% <1% <1% n/a
Bill de Blasio 1% 1% 1% 1% 1% n/a
Tulsi Gabbard 1% 1% 1% 0% <1% 1%
Amy Klobuchar 1% 1% 3% 1% 3% 2%
Michael Bennet <1% 0% <1% 0% <1% n/a
Steve Bullock <1% 0% 0% 0% 0% n/a
Kirsten Gillibrand <1% <1% <1% <1% <1% 1%
Joe Sestak <1% n/a n/a n/a n/a n/a
Tom Steyer <1% n/a n/a n/a n/a n/a
John Delaney 0% 0% <1% 0% 0% <1%
Jay Inslee * 0% 1% <1% <1% <1% <1%
Wayne Messam 0% 0% 0% <1% n/a n/a
Seth Moulton * 0% 0% 0% <1% n/a n/a
Tim Ryan 0% <1% <1% 0% n/a n/a
(VOL) Other 1% 0% <1% 3% 5% 8%
(VOL) No one <1% 1% 2% 3% <1% 3%
(VOL) Undecided 10% 11% 9% 14% 8% 9%
 (n) (298) (306) (334) (330) (310) (313)

* The poll was conducted before Inslee and Moulton dropped out of the race.

15.I’m going to read you the names of some people who are running for president in 2020.  Please tell me if your general impression of each is favorable or unfavorable, or if you don’t really have an opinion. If you have not heard of the person, just let me know. [NAMES WERE ROTATED]

  TREND: Favorable Unfavorable No
opinion
Not
heard of
(n)
Former Vice President Joe Biden 66% 25% 8% 1% (298)
   — May 2019 74% 17% 7% 1% (334)
   — April  2019 72% 16% 12% 1% (330)
   — March  2019 76% 13% 9% 2% (310)
   — January  2019 80% 9% 8% 3% (313)
           
Vermont Senator Bernie Sanders 64% 24% 10% 2% (298)
   — May 2019 65% 21% 12% 2% (334)
   — April  2019 65% 21% 13% 1% (330)
   — March  2019 70% 17% 10% 3% (310)
   — January  2019 68% 19% 9% 4% (313)
           
Massachusetts Senator Elizabeth Warren 65% 13% 16% 7% (298)
   — May 2019 60% 14% 14% 12% (334)
   — April  2019 51% 19% 18% 12% (330)
   — March  2019 49% 19% 15% 17% (310)
   — January  2019 57% 17% 16% 11% (313)
           
Former Texas Congressman Beto O’Rourke 39% 20% 26% 15% (298)
   — May 2019 40% 19% 20% 22% (334)
   — April  2019 43% 12% 22% 23% (330)
   — March  2019 38% 12% 21% 29% (310)
   — January  2019 41% 9% 23% 27% (313)
           
California Senator Kamala Harris 56% 17% 16% 11% (298)
   — May 2019 58% 9% 15% 18% (334)
   — April  2019 50% 10% 19% 21% (330)
   — March  2019 53% 11% 16% 20% (310)
   — January  2019 46% 13% 21% 20% (313)
           
Minnesota Senator Amy Klobuchar 27% 18% 34% 20% (298)
   — May 2019 32% 10% 28% 30% (334)
   — April  2019 27% 13% 28% 32% (330)
   — March  2019 26% 13% 29% 33% (310)
   — January  2019 23% 8% 30% 39% (313)
           
South Bend, Indiana Mayor Pete Buttigieg 43% 14% 20% 23% (298)
   — May 2019 35% 11% 24% 30% (334)
   — April  2019 35% 6% 25% 34% (330)
   — March  2019
   — January  2019 8% 6% 27% 58% (313)
           
New Jersey Senator Cory Booker 49% 14% 25% 13% (298)
   — May 2019 41% 13% 26% 19% (334)
   — April  2019 40% 16% 24% 20% (330)
   — March  2019 43% 12% 20% 25% (310)
   — January  2019 44% 11% 20% 25% (313)
           
 Former cabinet secretary Julián Castro 35% 13% 32% 20% (298)
   — May 2019 28% 10% 31% 31% (334)
   — April  2019
   — March  2019
   — January  2019 24% 9% 32% 35% (313)
           
Entrepreneur Andrew Yang 24% 12% 36% 29% (298)
   — May 2019 12% 13% 33% 42% (334)
   — April  2019
   — March  2019
   — January  2019 10% 10% 26% 53% (313)
         
Author Marianne Williamson 14% 25% 28% 33% (298)
   — May 2019 10% 10% 28% 52% (334)
   — April  2019
   — March  2019 8% 4% 21% 67% (310)
   — January  2019
         
Former Pennsylvania Congressman Joe Sestak 5% 11% 37% 47% (298)
   — May 2019
   — April  2019
   — March  2019
   — January  2019
         
Former hedge fund manager Tom Steyer 9% 25% 37% 30% (298)
   — May 2019
   — April  2019
   — March  2019
   — January  2019
           

16.How important is it to you that the Democrats nominate someone who supports Medicare for All – very important, somewhat important, not important, or are you not sure?

Aug.
2019
Very important 58%
Somewhat important 23%
Not important 10%
Not sure 9%
(n) (298)

17.Which of the following comes closest to how you would like to see health care handled:  A. get rid of all private insurance coverage in favor of having everyone on a single public plan like Medicare for All, B. allow people to either opt into Medicare or keep their private coverage, C. keep health insurance private for people under age 65 but regulate the costs, or D. keep the health insurance system basically as it is?

Aug.
2019
A. Get rid of all private insurance coverage in favor of … Medicare for All 22%
B. Allow people to either opt into Medicare or keep their private coverage 53%
C. Keep health insurance private for people under age 65 but regulate the costs 7%
D. Keep the health insurance system basically as it is 11%
(VOL) Other 2%
(VOL) Don’t know 4%
(n) (298)

17A.[If “B. ALLOW PEOPLE TO OPT INTO MEDICARE OR KEEP THEIR PRIVATE COVERAGE” in Q17, ASK:]  Would you eventually like to see the nation’s health care coverage move to a universal public system like Medicare for All or do you think there should always be a choice to keep your private coverage?  [Percentages are based on the total sample of Democrats.]

Aug.
2019
Medicare for All now (from Q17) 22%
Public option:  Eventually move to a universal public system like Medicare for All 18%
Public option:  Should always be a choice to keep your private coverage 33%
Public option:  Don’t know what should eventually happen 2%
Minor, none, other changes to health insurance (from Q17) 21%
(VOL) Don’t know (from Q17) 4%
(n) (298)

[Q18-26 held for future release.]

METHODOLOGY

The Monmouth University Poll was sponsored and conducted by the Monmouth University Polling Institute from August 16 to 20, 2019 with a national random sample of 800 adults age 18 and older, in English. This includes 314 contacted by a live interviewer on a landline telephone and 486 contacted by a live interviewer on a cell phone. The results in this poll release are based on a subsample of 298 registered voters who identify themselves as Democrats or lean toward the Democratic Party. Telephone numbers were selected through random digit dialing and landline respondents were selected with a modified Troldahl-Carter youngest adult household screen. Monmouth is responsible for all aspects of the survey design, data weighting and analysis. Final sample is weighted for region, age, education, gender and race based on US Census information. Data collection support provided by Braun Research (field) and Dynata (RDD sample). For results based on the Democratic voter sample, one can say with 95% confidence that the error attributable to sampling has a maximum margin of plus or minus 5.7 percentage points (unadjusted for sample design). Sampling error can be larger for sub-groups (see table below). In addition to sampling error, one should bear in mind that question wording and practical difficulties in conducting surveys can introduce error or bias into the findings of opinion polls.

DEMOGRAPHICS (weighted)
DEMOCRATIC VOTERS
 
38% Male
62% Female
 
31% 18-34
31% 35-54
38% 55+
 
53% White
18% Black
20% Hispanic
  9% Asian/Other
 
59% No degree
41% 4 year degree
  

Click on pdf file link below for full methodology and crosstabs by key demographic groups.

3-Way Lead as Dem 2020 Picture Shifts

Joe Biden: ‘I want to be clear, I’m not going nuts’

9:24 a.m.

Joe Biden.

Joshua Lott/Getty Images

Former Vice President Joe Biden is hopping on the defensive.

After months of gaffes on the 2020 campaign trail prompting even his brain surgeon to chime in and defend his mind, Biden made a pointed comment about the state of his brain over the weekend. “I want to be clear, I’m not going nuts,” Biden said during a campaign rally in New Hampshire — a comment that surely extended beyond the confusion he was trying to clear up at the time, theLos Angeles Times reports.

Biden made the declaration while speaking to supporters at New Hampshire’s Loon Lake, defending his inability to remember just where he’d spoken at Dartmouth College a few hours earlier. “I’m not sure whether it was the medical school or where the hell I spoke. But it was on the campus,” he said, looking at the gathered reporters as he did it, per the Times.

The obviously defensive comment comes after months of Biden stumbling over some pretty important details at campaign rallies, namely the locations of two mass shootings earlier this month. There’s also the time Biden said “poor kids are just as bright and just as talented as white kids” in front of the the Asian & Latino Coalition in Iowa. Yet the man who performed surgery on Biden three decades ago following two brain aneurysms agrees with the 76-year-old’s weekend comment, saying that he’s clearly “as sharp as he was 31 years ago.” Kathryn Krawczyk

GOP primary challenger Joe Walsh says the racist things he’s said on Twitter don’t necessarily make him a racist
5:26 p.m.

The presidential campaign freshly launched by former Rep. Joe Walsh (R-Ill.) also appears to be doubling as some kind of an apology — or at least personal accountability — tour.

Walsh, who on Sunday officially announced that he was challenging President Trump in the Republican primary, has routinely come under fire for his own controversial remarks, including a plethora of racist and insensitive tweets over the years. Walsh acknowledged his Twitter feed on Monday in an appearance on MSNBC, and concurred that some of what he said is, indeed, racist. But, as Walsh sees it, that doesn’t influence whether he’s actually a racist offline, or, as the youth say, “IRL.”

Aaron Blake

@AaronBlake

Joe Walsh on MSNBC: “I wouldn’t call myself a racist, but I’ve said racist things on Twitter.”

2,031 people are talking about this

When he made his announcement on Sunday, Walsh said he regretted helping “create” Trump by playing into divisive, personal politics, so it seems he’s trying to rip off the Band-Aid at the beginning of his campaign and address criticism that was sure to arise otherwise. Read more about Walsh’s presidential campaign here at The WeekTim O’Donnell

Your favorite vintage of French wine likely won’t get much more expensive in the near future.

Officials from France and the United States reportedly reached a compromise on Monday following the Group of Seven summit in Biarritz, France, on a new French tax passed last month on digital services provided by large internet companies, like Google and Amazon.

The new agreement stipulates that France would repay companies the difference between its digital tax and whatever taxes come from the agreed-upon Organization for Economic Cooperation and Development’s planned mechanism. The threshold for the French tax to be applicable for a company is annual revenues of more than $830 million — including $27 million generated in France — from “digital activities,” like collection of user data and selling targeted advertising.

French President Emmanuel Macron praised the compromise, while maintaining that France will nix its national tax if and when his preferred method of an international system for digital taxation is implemented. German Chancellor Angela Merkel said OECD nations want a solution on that by next year.

President Trump had previously threatened to tax French wine if Paris moved forward with its approved three percent tax on digital services. Tim O’Donnell

https://theweek.com/speedreads/861285/french-wine-might-safe-from-tariffs-after-france-strike-compromise-digital-tax

 

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The Pronk Pops Show 1306, August 14, 2019, Story 1: President Trump Delays Tariffs on Chinese Goods to After Christmas — Videos — Story 2: Normal Flight Operations Resume Again in Hong Kong — Videos — Story 3: Progressives Try To Panic American People Over Inverted Yield Curve Leading To Recession — U.S. Economy is Growing — Missy Higgins Singing — Videos — Story 4: President Trump Energy Speech at Shell Pennsylvania Petrochemicals Complex in Monaca, Pennsylvania 

Posted on August 15, 2019. Filed under: 2020 Republican Candidates, Addiction, Addiction, American History, Banking System, Blogroll, Breaking News, Budgetary Policy, Business, Cartoons, China, Coal, Coal, Communications, Congress, Corruption, Countries, Culture, Currencies, Donald J. Trump, Donald J. Trump, Donald J. Trump, Donald Trump, Economics, Economics, Education, Elections, Empires, Employment, Energy, Fiscal Policy, Foreign Policy, Free Trade, Freedom of Speech, Government, Government Dependency, Government Spending, Health, Health Care, Health Care Insurance, History, House of Representatives, Human, Human Behavior, Illegal Immigration, Immigration, Independence, Labor Economics, Language, Law, Legal Immigration, Life, Liquid Natural Gas (LNG), Lying, Media, Monetary Policy, National Interest, Natural Gas, Natural Gas, News, Nuclear, Oil, Oil, People, Philosophy, Photos, Politics, Polls, President Trump, Private Sector Unions, Progressives, Public Corruption, Public Sector Unions, Radio, Raymond Thomas Pronk, Regulation, Resources, Rule of Law, Scandals, Security, Senate, Social Science, Social Sciences, Solar, Success, Tax Policy, Taxation, Taxes, Trade Policy, U.S. Dollar, Unemployment, Unions, United States of America, Videos, Violence, Wealth, Welfare Spending, Wisdom | Tags: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , |

 

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The Pronk Pops Show Podcasts

Pronk Pops Show 1306 August 14, 2019

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Pronk Pops Show 1278 June 20, 2019 

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Story 1: President Trump Delays Tariffs on Chinese Goods to After Christmas — Americans Would Have Been Paying The Tariff or Tax — Videos —

Trump Blinked With China Tariff Delay, Exante Data’s Setser Says

Trump says China tariffs delayed for ‘Christmas season’

China Is Changing Strategy in Trade War, Says LSE’s Jin

 

Trump CAVES on China tariffs and puts off levies on laptops, cell phones and toys until after Christmas shopping season following ‘very good call’ with Beijing – in move set to boost faltering stock market

  • The Trump administration announced Tuesday morning that is delaying tariffs on Chinese-manufactured goods like laptops and cell phones until Dec. 15
  • Trump’s trade office says that certain products ‘will not face additional tariffs of 10 percent’ due to health, safety or national security concerns 
  • Some of e products it listed were cell phones, laptop computers, video game consoles, computer monitors, footwear and clothingth
  • USTR said it will post a list of items that are being excluded on its website
  • It announced the postponement shortly after the the stock market opened, and the Dow jumped nearly 500 points within minutes of the news
  • Donald Trump has not commented directly but hinted n a tweet that the action was intended to get China to move forward with large agricultural orders

The Trump administration announced Tuesday morning that is delaying tariffs on Chinese-manufactured goods like laptops and cell phones until Dec. 15, when price hikes from the penalties won’t drive up the price of popular Christmas presents.

Trump’s trade office says that certain products ‘will not face additional tariffs of 10 percent’ due to health, safety or national security concerns.

However, the categories of goods that are being protected suggest that Trump was concerned about the consumer pricing index and the billions of dollars in value of this month’s stock losses.

The U.S. trade office announced the postponement shortly after the the stock market opened in the United States, causing the Dow Jones Industrial Average jump nearly 500 points within minutes.

That excitement tempered off as the day wore on. The Dow leveled out at a 400-point rise that was close to 1,000 points off from where it was a month ago when it started to drop.

Speaking to reporters on the tarmac in New Jersey, before a day trip to Pennsylvania from his vacation, the president defended his tough-on-China stance, saying that other presidents should have tightened the screws on Beijing, too.

He said that he backed off on tariffs because he had a ‘very good call with China.

The Trump administration announced Tuesday morning that is delaying tariffs on Chinese-manufactured goods like laptops and cell phones until Dec. 15. Donald Trump is seen here at the White House the previous Friday

The Trump administration announced Tuesday morning that is delaying tariffs on Chinese-manufactured goods like laptops and cell phones until Dec. 15. Donald Trump is seen here at the White House the previous Friday

The Dow Jones Industrial Average jumped nearly 500 points within minutes of the statement

The Dow Jones Industrial Average jumped nearly 500 points within minutes of the statement

Donald Trump said he’d impose a 10 percent penalty on $300 billion in untaxed goods on Sept. 1, if China continued drag out trade talks. 

U.S. negotiators say a deal was nearly finished, when Beijing backed away from major provisions.

A new round of talks was scheduled for September, however Trump drove down skittish markets with claims last week that the meetings could be cancelled.

On Tuesday morning, USTR announced it was loosening the noose on China, specifically on items in the tech and and clothing manufacturing industries.

‘Products in this group include, for example, cell phones, laptop computers, video game consoles, certain toys, computer monitors, and certain items of footwear and clothing,’ according to a United States Trade Representative statement.

USTR said it will post a list of items that are being excluded on its website today.

The president continued to defend his position in a Tuesday morning in tweet that claimed consumers have not paid the price for the 25 percent tariffs on $250 billion of other Chinese items that he’s put in place.

Trump did not mention the policy shift in that tweet or one that he sent a half-hour after the the USTR announcement, however, he hinted that unfilled agricultural orders were part of the calculus.

He said of China’s retracted promises to purchase more American agricultural goods: ‘Maybe this will be different!’ 

Less than an hour prior, the president had been ripping China. He blasted Beijing for financial tinkering the U.S. has blasted as currency manipulation while promising American buyers that tariffs wouldn’t affect everyday product pricing.

‘Through massive devaluation of their currency and pumping vast sums of money into their system, the tens of billions of dollars that the U.S. is receiving is a gift from China. Prices not up, no inflation. Farmers getting more than China would be spending. Fake News won’t report!’ he said.

‘Later, at a manufacturing event in Pennsylvania, the president said in an extended riff on China that it had ‘ripped off our country for years’ and taken advantage of World Trade Organization rules that allow the nation to be classified as a developing economy.

‘And I’m being nice when I say took advantage,’ he argued.

He recounted his threat to leave the WTO, unless it started adjudicating cases in his favor.

‘And it’s only because of attitude,’ he said of a change in behavior. ‘Because we know that they have been screwing us for years.’

He added, ‘And I’d like to use a different word but there’s no word that’s quite as descriptive.’

https://www.dailymail.co.uk/news/article-7352783/Trump-postpones-new-tariffs-China-months-stock-shares-lose-billions-value.html

 

Story 2: Normal Flight Operations Resume Again in Hong Kong — Videos

 

Normal operations resume at Hong Kong airport as city braces for more protests

Hong Kong’s Airport Authority said normal flight operations would resume on Thursday after pro-democracy protests forced the cancellation of nearly 1,000 flights this week, while the city braced for more mass protests through the weekend.

China reiterated on Wednesday that Hong Kong’s protest movement was “near terrorism” and more street clashes followed ugly and chaotic scenes at the airport on Tuesday, when protesters set upon two men they suspected of being government sympathisers.

Police and protesters faced off again on the streets of the financial hub overnight, with riot officers quickly firing tear gas as their response to demonstrators toughens .

Ten weeks of increasingly violent confrontations between police and protesters have plunged Hong Kong into its worst crisis since it reverted from British to Chinese rule in 1997.

Heightened security would remain at the city’s international airport and the Hong Kong Airport Authority said late on Wednesday an application for protests to be held in the terminal must be made in advance with a “Letter of No Objection” to be obtained from police.

More protests are planned on Friday and over the weekend in different areas of the Chinese-controlled territory.

Protesters have expressed remorse after a peaceful sit-in turned violent at one of the world’s busiest airports earlier this week.

It was not clear whether the violent clashes might have eroded the broad support the movement has so far attracted in Hong Kong. The protests have also hit the city’s faltering economy.

The United States said it was deeply concerned at news of Chinese police forces gathering near the border, urged Hong Kong’s government to respect freedom of speech, and issued a travel advisory urging caution when visiting the city. (Writing by Farah Master Editing by Paul Tait)

https://www.dailymail.co.uk/wires/reuters/article-7358413/Normal-operations-resume-Hong-Kong-airport-city-braces-protests.html

 

Story 3: Progressives Try To Panic American People Over Inverted Yield Curve Leading To Recession — U.S. Economy is Growing — Missy Higgins Singing — Videos

See the source image

See the source image

See the source image

See the source image

See the source image

Missy Higgins – Any Day Now (Live)

Any Day Now

Missy Higgins

How long, how long, how long will we take to come undone?
If you know the answer tell me now and I’ll write up a calendar for our count down.
‘Cause what if what we see is all, is all we’ve got?
Say you’ve kept some fire aside to set light to me some surprising night.
And say you’ve locked some fire away to set light to me some surprising day.
To me some surprising day, any day now
How come, how come, how come I’m now on a road holding out my thumb?
If you know my destination please buy me the fastest car and throw me the keys.
‘Cause what if what we see is all, is all we’ve got?
Say you’ve kept some fire aside to set light to me some surprising night.
And say you’ve locked some fire away to set light to me some surprising day.
‘Cause finger by finger we’re losing grasp and
I’m questioning the reason why nothing beautiful does last
Say you’ve kept some fire aside to set light to me some surprising night.
And say you’ve locked some fire away to set light to me some surprising day,
To me some surprising day any day now.
Source: LyricFind
Songwriters: Melissa Higgins
Any Day Now lyrics © Peermusic Publishing, Words & Music A Div Of Big Deal Music LLC

Why Investors Are Obsessed With the Inverted Yield Curve

Fed Must Act on Inverted Yield Curve, Credit Suisse’s Golub Says

What Is An Inverted Yield Curve And How Does It Affect The Stock Market? | NBC News Now

Yield curve inversion does not mean there will be a recession tomorrow, strategist says

Mohamed El-Erian talks yield curve, recession and global economy

President Trump calls Fed Chair Jerome Powell ‘clueless’ and inverted yield curve ‘crazy’

Missy Higgins (9-27-2008) Sugarcane

Sugarcane

Missy Higgins

Baby ballerina’s hiding
Somewhere in the corner
Where the shadow wraps around her
And our torches cannot find her
She will stay there till the morning
Crawl behind us as we are yawning
And she will leave our games
To never be the same
So grow tall, sugarcane
Eat that soil, drink the rain
But know they’ll chase you
If you play their little games
So run, run fast, sugarcane
You see my peep show booth is handy
There’s a one way only mirror
So I can dance here with my hair down
But I don’t see if you get bitter
And there’s a button right beside me
If I happen to want a wall to hide me
If only the ballerina had one too
So grow tall, sugarcane
Eat that soil, drink the rain
But know they’ll chase you
If you play their little games
So run, run fast, sugarcane
And she said, “Always be afraid”
Yes, she said, “Always be afraid”
So grow tall, sugarcane
Eat that soil, drink the rain
But know they’ll chase you
If you play their little games
So run, run fast, sugarcane
Yeah, you’d better run, run fast, sugarcane
Yeah, you’d better run, run fast sugarcane
Source: LyricFind
Songwriters: Melissa Higgins
Sugarcane lyrics © Peermusic Publishing

Missy Higgins – Where I Stood (Official Video)

Where I Stood

Missy Higgins

I don’t know what I’ve done
Or if I like what I’ve begun
But something told me to run
And honey, you know me, it’s all or none
There were sounds in my head
Little voices whispering
That I should go and this should end
Oh, and I found myself listening
‘Cause I don’t know who I am, who I am without you
All I know is that I should
And I don’t know if I could stand another hand upon you
All I know is that I should
‘Cause she will love you more than I could
She who dares to stand where I stood
See, I thought love was black and white
That it was wrong or it was right
But you aren’t leaving without a fight
And I think, I am just as torn inside
‘Cause I don’t know who I am, who I am without you
All I know is that I should
And I don’t know if I could stand another hand upon you
All I know is that I should
‘Cause she will love you more than I could
She who dares to stand where I stood
And I won’t be far from where you are if ever you should call
You meant more to me than any one I, I’ve ever loved at all
But you taught me how to trust myself
And so I say to you, this is what I have to do
‘Cause I don’t know who I am, who I am without you
All I know is that I should
And I don’t know if I could stand another hand upon you
All I know is that I should
‘Cause she will love you more than I could
She who dares to stand where I stood
She who dares to stand where I stood
Source: LyricFind
Songwriters: Melissa Higgins
Where I Stood lyrics © Peermusic Publishing

Kimberley Music – Missy Higgins

Missy Higgins on why she used to break into cemeteries | The Weekly

Missy Higgins & Friends Live

Dow plummets 800 points and 3% in a day amid fears of economic crisis as Treasury yields invert for the first time since the Great Recession

  • Dow Jones plunged more than 800 points on Wednesday on recession fears
  • Yield on the 10-year Treasury note briefly dipped below the two-year yield
  • Known as an ‘inverted yield curve,’ it is a sign investors fear a recession 
  • The past five inverted yield curves have all preceded a recession
  • Trump blasts Fed over rates and calls chairman Jerome Powell ‘clueless’ 

Stocks plunged on Wednesday after the bond market threw up one of its last remaining warning flags on the economy.

The yield on the 10-year Treasury briefly dropped below the two-year Treasury’s yield Wednesday morning, the first time those yields have flipped since 2007. The so-called inversion has correctly predicted many past recessions and is the loudest warning bell yet about a possible recession ahead.

Investors responded by dumping stocks, more than erasing gains from a rally the day before.

The Dow Jones Industrial Average closed down 801 points at 25,479, a loss of 3%, in the largest one-day point drop since October 2018,

A one-day view of the yield spread between the 10-year and two-year Treasury bond shows two brief yield curve inversions when the ratio drops below the red line on Wednesday

Based on the latest available data, the S&P 500 lost 85.72 points, or 2.93%, to 2,840.6, and the Nasdaq Composite dropped 242.42 points, or 3.02%, to 7,773.94.

While the market was falling Wednesday, President Donald Trump took to Twitter to again criticize the Federal Reserve for hampering the U.S. economy by raising rates “far too quickly” last year and not reversing its policy aggressively enough – the Fed cut its key rate by a quarter point last month. 

Trump blasted Federal Reserve Chairman Jerome Powell as ‘clueless’. 

He also defended his trade policy, even though investors remain worried that the trade war between the world’s two largest economies may drag on through the 2020 U.S. election and cause more economic damage.

“We still see a substantial risk that the trade dispute will escalate further,” said Mark Haefele, global chief investment officer at UBS in a note to clients.

‘The relief rally inspired by the Trump administration delaying tariffs on some Chinese imports was short lived – blink and you missed it,’ said Fiona Cincotta, senior market analyst at City Index.

With bond yields falling, banks took heavy losses Wednesday. Lower bond yields are bad for banks because they force interest rates on mortgages and other loans lower, which results in lower profits for banks. Citigroup sank 5.1% and Bank of America gave up 5%.

Trump is seen at a White House meeting last month. He is relying upon a strong economy to bolster his reelection chances, and the latest economic signal is a worrying one

Trump is seen at a White House meeting last month. He is relying upon a strong economy to bolster his reelection chances, and the latest economic signal is a worrying one

Much of the market’s focus was on the U.S. yield curve, which has historically been one of the more reliable recession indicators.

If all this talk about yield curves sounds familiar, it should. Other parts of the curve have already inverted, beginning late last year. But each time, some market watchers cautioned not to make too much of it.

Academics tend to pay the most attention to the spread between the three-month Treasury and the 10-year Treasury, which inverted in the spring. Traders often pay more attention to the two-year and 10-year spread.

Each of the last five times the two-year and 10-year Treasury yields have inverted, a recession has followed.

The average amount of time is around 22 months, according to Raymond James’ Giddis.

The indicator isn’t perfect, though, and it’s given false signals in the past.

Some market watchers also say the yield curve may be a less reliable indicator this time because technical factors may be distorting longer-term yields, such as negative bond yields abroad and the Federal Reserve’s holdings of $3.8 trillion in Treasurys and other investments on its balance sheet.

What is a yield curve inversion?

The yield, or the effective interest rate paid, on a 10-year Treasury bond is usually higher than the yield on a two-year bond — because investors typically want to see a higher return for a longer-term investment.

However, bond yields move in the opposite direction of bond prices, which are driven by demand. When investors clamor for bonds, driving prices up, yields go down.

The inversion of the 10-year and two-year yield curves is a signal that investors are rushing money from stocks into bonds, depressing yields and flipping the return on long- and short-term bonds in a way that appears to make little economic sense.

Data from Credit Suisse going back to 1978 shows:

  • The last five 2-10 inversions have eventually led to recessions.
  • A recession occurs, on average, 22 months following a 2-10 inversion.
  • The S&P 500 is up, on average, 12% one year after a 2-10 inversion.
  • It’s not until about 18 months after an inversion when the stock market usually turns and posts negative returns.

This chart shows the spread between 10-year and two-year Treasury bonds since 1978. The portions below the black line represent yield inversions, and shaded areas are recessions

This chart shows the spread between 10-year and two-year Treasury bonds since 1978. The portions below the black line represent yield inversions, and shaded areas are recessions

Macy’s plunged 11.4%, the sharpest loss in the S&P 500, after it slashed its profit forecast for the year. The retailer’s profit for the latest quarter fell far short of analysts’ forecasts as it was forced to slash prices on unsold merchandise. The grim results from Macy’s sent other retailers sharply lower, too. Nordstrom sank 10% and Kohl’s dropped 11%.

Energy stocks also sank sharply, hurt by another drop in the price of crude oil on worries that a weakening global economy will drag down demand. National Oilwell Varco slumped 7.4% and Schlumberger skidded 6.5%. The price of benchmark U.S. crude slid 3.9% to $54.88 per barrel. Brent crude, the international standard, lost 3.7% to $59.04.

Gold gained $13.70 to $1,515.90 per ounce, close to a six-year high. Investors also bid up shares in mining company Newmont Goldcorp 1.8%.

Overseas, Germany’s DAX dropped 2.3% following the weak German economic data. France’s CAC 40 fell 2.2%, and the FTSE 100 in London lost 1.7%.

In Asia, Japan’s Nikkei 225 rose 1%, the Kospi in South Korea gained 0.7% and the Hang Seng in Hong Kong added 0.1%.

Trader Andrew Silverman works on the floor of the New York Stock Exchange on Tuesday. The threat of a recession doesn't seem so remote anymore, and stocks sank Wednesday

Trader Andrew Silverman works on the floor of the New York Stock Exchange on Tuesday. The threat of a recession doesn’t seem so remote anymore, and stocks sank Wednesday

Markets have largely been in a spin cycle since Trump announced on Aug. 1 that he would impose 10% tariffs on about $300 billion in Chinese imports, which would be on top of 25% tariffs already in place on $250 billion in imports.

On Tuesday, responding to pressure from businesses and growing fears that a trade war is threatening the U.S. economy, the Trump administration is delaying most of the import taxes it planned to impose on Chinese goods and is dropping others altogether.

Investors are still worried that the trade war between the world’s two largest economies may drag on through the 2020 U.S. election and cause more economic damage.

For all its whipsawing up and down, the S&P 500 remains within 5% of its record, which was set in late July.

A five-day view of the Dow shows a sharp drop at the open of trading on Wednesday

A five-day view of the Dow shows a sharp drop at the open of trading on Wednesday

https://www.dailymail.co.uk/news/article-7356699/Warnings-economic-crisis-Treasury-yields-invert-time-Great-Recession.html

Federal funds rate

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Federal Funds Rate compared to U.S. Treasury interest rates

2 to 10 year treasury yield spread

Inflation (blue) compared to federal funds rate (red)

Quarterly gross domestic product compared to Federal Funds Rate.

Federal Funds Rate and Treasury interest rates from 2002-2019

In the United States, the federal funds rate is the interest rate at which depository institutions (banks and credit unions) lend reserve balances to other depository institutions overnight on an uncollateralized basis. Reserve balances are amounts held at the Federal Reserve to maintain depository institutions’ reserve requirements. Institutions with surplus balances in their accounts lend those balances to institutions in need of larger balances. The federal funds rate is an important benchmark in financial markets.[1][2]

The interest rate that the borrowing bank pays to the lending bank to borrow the funds is negotiated between the two banks, and the weighted average of this rate across all such transactions is the federal funds effective rate.

The federal funds target rate is determined by a meeting of the members of the Federal Open Market Committee which normally occurs eight times a year about seven weeks apart. The committee may also hold additional meetings and implement target rate changes outside of its normal schedule.

The Federal Reserve uses open market operations to make the federal funds effective rate follow the federal funds target rate. The target rate is chosen in part to influence the money supply in the U.S. economy[3]

Mechanism

Financial institutions are obligated by law to maintain certain levels of reserves, either as reserves with the Fed or as vault cash. The level of these reserves is determined by the outstanding assets and liabilities of each depository institution, as well as by the Fed itself, but is typically 10%[4] of the total value of the bank’s demand accounts (depending on bank size). For transaction deposits of size $9.3 million to $43.9 million (checking accountsNOWs, and other deposits that can be used to make payments) the reserve requirement in 2007–2008 was 3 percent of the end-of-the-day daily average amount held over a two-week period. Transaction deposits over $43.9 million held at the same depository institution carried a 10 percent reserve requirement.

For example, assume a particular U.S. depository institution, in the normal course of business, issues a loan. This dispenses money and decreases the ratio of bank reserves to money loaned. If its reserve ratio drops below the legally required minimum, it must add to its reserves to remain compliant with Federal Reserve regulations. The bank can borrow the requisite funds from another bank that has a surplus in its account with the Fed. The interest rate that the borrowing bank pays to the lending bank to borrow the funds is negotiated between the two banks, and the weighted average of this rate across all such transactions is the federal funds effective rate.

The federal funds target rate is set by the governors of the Federal Reserve, which they enforce by open market operations and adjustments in the interest rate on reserves.[5] The target rate is almost always what is meant by the media referring to the Federal Reserve “changing interest rates.” The actual federal funds rate generally lies within a range of that target rate, as the Federal Reserve cannot set an exact value through open market operations.

Another way banks can borrow funds to keep up their required reserves is by taking a loan from the Federal Reserve itself at the discount window. These loans are subject to audit by the Fed, and the discount rate is usually higher than the federal funds rate. Confusion between these two kinds of loans often leads to confusion between the federal funds rate and the discount rate. Another difference is that while the Fed cannot set an exact federal funds rate, it does set the specific discount rate.

The federal funds rate target is decided by the governors at Federal Open Market Committee (FOMC) meetings. The FOMC members will either increase, decrease, or leave the rate unchanged depending on the meeting’s agenda and the economic conditions of the U.S. It is possible to infer the market expectations of the FOMC decisions at future meetings from the Chicago Board of Trade (CBOT) Fed Funds futures contracts, and these probabilities are widely reported in the financial media.

Applications

Interbank borrowing is essentially a way for banks to quickly raise money. For example, a bank may want to finance a major industrial effort but may not have the time to wait for deposits or interest (on loan payments) to come in. In such cases the bank will quickly raise this amount from other banks at an interest rate equal to or higher than the Federal funds rate.

Raising the federal funds rate will dissuade banks from taking out such inter-bank loans, which in turn will make cash that much harder to procure. Conversely, dropping the interest rates will encourage banks to borrow money and therefore invest more freely.[6] This interest rate is used as a regulatory tool to control how freely the U.S. economy operates.

By setting a higher discount rate the Federal Bank discourages banks from requisitioning funds from the Federal Bank, yet positions itself as a lender of last resort.

Comparison with LIBOR

Though the London Interbank Offered Rate (LIBOR) and the federal funds rate are concerned with the same action, i.e. interbank loans, they are distinct from one another, as follows:

  • The target federal funds rate is a target interest rate that is set by the FOMC for implementing U.S. monetary policies.
  • The (effective) federal funds rate is achieved through open market operations at the Domestic Trading Desk at the Federal Reserve Bank of New York which deals primarily in domestic securities (U.S. Treasury and federal agencies’ securities).[7]
  • LIBOR is based on a questionnaire where a selection of banks guess the rates at which they could borrow money from other banks.
  • LIBOR may or may not be used to derive business terms. It is not fixed beforehand and is not meant to have macroeconomic ramifications.[8]

Predictions by the market

Considering the wide impact a change in the federal funds rate can have on the value of the dollar and the amount of lending going to new economic activity, the Federal Reserve is closely watched by the market. The prices of Option contracts on fed funds futures (traded on the Chicago Board of Trade) can be used to infer the market’s expectations of future Fed policy changes. Based on CME Group 30-Day Fed Fund futures prices, which have long been used to express the market’s views on the likelihood of changes in U.S. monetary policy, the CME Group FedWatch tool allows market participants to view the probability of an upcoming Fed Rate hike. One set of such implied probabilities is published by the Cleveland Fed.

Historical rates

As of 19 December 2018 the target range for the Federal Funds Rate is 2.25–2.50%.[9] This represents the ninth increase in the target rate since tightening began in December 2015.[10]

The last full cycle of rate increases occurred between June 2004 and June 2006 as rates steadily rose from 1.00% to 5.25%. The target rate remained at 5.25% for over a year, until the Federal Reserve began lowering rates in September 2007. The last cycle of easing monetary policy through the rate was conducted from September 2007 to December 2008 as the target rate fell from 5.25% to a range of 0.00–0.25%. Between December 2008 and December 2015 the target rate remained at 0.00–0.25%, the lowest rate in the Federal Reserve’s history, as a reaction to the Financial crisis of 2007–2008 and its aftermath. According to Jack A. Ablin, chief investment officer at Harris Private Bank, one reason for this unprecedented move of having a range, rather than a specific rate, was because a rate of 0% could have had problematic implications for money market funds, whose fees could then outpace yields.[11]

Federal funds rate history and recessions.png

Explanation of federal funds rate decisions

When the Federal Open Market Committee wishes to reduce interest rates they will increase the supply of money by buying government securities. When additional supply is added and everything else remains constant, the price of borrowed funds – the federal funds rate – falls. Conversely, when the Committee wishes to increase the federal funds rate, they will instruct the Desk Manager to sell government securities, thereby taking the money they earn on the proceeds of those sales out of circulation and reducing the money supply. When supply is taken away and everything else remains constant, the interest rate will normally rise.[12]

The Federal Reserve has responded to a potential slow-down by lowering the target federal funds rate during recessions and other periods of lower growth. In fact, the Committee’s lowering has recently predated recessions,[13] in order to stimulate the economy and cushion the fall. Reducing the federal funds rate makes money cheaper, allowing an influx of credit into the economy through all types of loans.

The charts linked below show the relation between S&P 500 and interest rates.

  • July 13, 1990 — Sept 4, 1992: 8.00%–3.00% (Includes 1990–1991 recession)[14][15]
  • Feb 1, 1995 — Nov 17, 1998: 6.00–4.75 [16][17][18]
  • May 16, 2000 — June 25, 2003: 6.50–1.00 (Includes 2001 recession)[19][20][21]
  • June 29, 2006 — (Oct. 29 2008): 5.25–1.00[22]
  • Dec 16, 2008 — 0.0–0.25[23]
  • Dec 16, 2015 — 0.25–0.50[24]
  • Dec 14, 2016 — 0.50–0.75[25]
  • Mar 15, 2017 — 0.75–1.00[26]
  • Jun 14, 2017 — 1.00–1.25[27]
  • Dec 13, 2017 — 1.25–1.50[28]
  • Mar 21, 2018 — 1.50–1.75[29]
  • Jun 13, 2018 — 1.75–2.00[30]
  • Sep 26, 2018 — 2.00–2.25[9]
  • Dec 19, 2018 — 2.25–2.50[31]

Bill Gross of PIMCO suggested that in the prior 15 years ending in 2007, in each instance where the fed funds rate was higher than the nominal GDP growth rate, assets such as stocks and housing fell.[32]

International effects

A low federal funds rate makes investments in developing countries such as China or Mexico more attractive. A high federal funds rate makes investments outside the United States less attractive. The long period of a very low federal funds rate from 2009 forward resulted in an increase in investment in developing countries. As the United States began to return to a higher rate in 2013 investments in the United States became more attractive and the rate of investment in developing countries began to fall. The rate also affects the value of currency, a higher rate increasing the value of the U.S. dollar and decreasing the value of currencies such as the Mexican peso.[33]

See also

References

  1. ^ “Fedpoints: Federal Funds”Federal Reserve Bank of New York. August 2007. Retrieved October 2, 2011.
  2. ^ “The Implementation of Monetary Policy”. The Federal Reserve System: Purposes & Functions (PDF). Washington, D.C.: Federal Reserve Board. August 24, 2011. p. 4. Retrieved October 2, 2011.
  3. ^ “Monetary Policy, Open Market Operations”. Federal Reserve Bank. January 30, 2008. Archived from the original on April 13, 2001. Retrieved January 30, 2008.
  4. ^ “Reserve Requirements”. Board of Governors of The Federal Reserve System. December 16, 2015.
  5. ^ Stefan Homburg (2017) A Study in Monetary Macroeconomics, Oxford University Press, ISBN 978-0-19-880753-7.
  6. ^ “Fed funds rate”. Bankrate, Inc. March 2016.
  7. ^ Cheryl L. Edwards (November 1997). Gerard Sinzdak. “Open Market Operations in the 1990s” (PDF)Federal Reserve Bulletin (PDF).
  8. ^ “BBA LIBOR – Frequently asked questions”. British Bankers’ Association. March 21, 2006. Archived from the original on February 16, 2007.
  9. Jump up to:a b “Federal Reserve issues FOMC statement” (Press release). Board of Governors of the Federal Reserve System. December 19, 2018. Retrieved June 2, 2019.
  10. ^ Tankersley, Jim (March 21, 2018). “Fed Raises Interest Rates for Sixth Time Since Financial Crisis”The New York Times. Retrieved March 22, 2018.
  11. ^ “4:56 p.m. US-Closing Stocks”. Associated Press. December 16, 2008. Archived from the original on July 18, 2012.
  12. ^ David Waring (February 19, 2008). “An Explanation of How The Fed Moves Interest Rates”. InformedTrades.com. Archived from the original on May 5, 2015. Retrieved July 20, 2009.
  13. ^ “Historical Changes of the Target Federal Funds and Discount Rates, 1971 to present”. New York Federal Reserve Branch. February 19, 2010. Archived from the original on December 21, 2008.
  14. ^ “$SPX 1990-06-12 1992-10-04 (rate drop chart)”. StockCharts.com.
  15. ^ “$SPX 1992-08-04 1995-03-01 (rate rise chart)”. StockCharts.com.
  16. ^ “$SPX 1995-01-01 1997-01-01 (rate drop chart)”. StockCharts.com.
  17. ^ “$SPX 1996-12-01 1998-10-17 (rate drop chart)”. StockCharts.com.
  18. ^ “$SPX 1998-09-17 2000-06-16 (rate rise chart)”. StockCharts.com.
  19. ^ “$SPX 2000-04-16 2002-01-01 (rate drop chart)”. StockCharts.com.
  20. ^ “$SPX 2002-01-01 2003-07-25 (rate drop chart)”. StockCharts.com.
  21. ^ “$SPX 2003-06-25 2006-06-29 (rate rise chart)”. StockCharts.com.
  22. ^ “$SPX 2006-06-29 2008-06-01 (rate drop chart)”. StockCharts.com.
  23. ^ “Press Release”. Board of Governors of The Federal Reserve System. December 16, 2008.
  24. ^ “Open Market Operations”. Board of Governors of The Federal Reserve System. December 16, 2015.
  25. ^ “Decisions Regarding Monetary Policy Implementation”. Board of Governors of The Federal Reserve System. Archived from the original on December 15, 2016.
  26. ^ Cox, Jeff (March 15, 2017). “Fed raises rates at March meeting”CNBC. Retrieved March 15, 2017.
  27. ^ “Federal Reserve issues FOMC statement”. Board of Governors of The Federal Reserve System. June 14, 2017.
  28. ^ “Federal Reserve issues FOMC statement”. Board of Governors of The Federal Reserve System. December 13, 2017.
  29. ^ “Federal Reserve issues FOMC statement”. Board of Governors of The Federal Reserve System. March 21, 2018.
  30. ^ “Federal Reserve issues FOMC statement”. Board of Governors of The Federal Reserve System. June 13, 2018.
  31. ^ “Federal Reserve issues FOMC statement”. Board of Governors of The Federal Reserve System. December 19, 2018.
  32. ^ Shaw, Richard (January 7, 2007). “The Bond Yield Curve as an Economic Crystal Ball”. Retrieved April 3, 2011.
  33. ^ Peter S. Goodman, Keith Bradsher and Neil Gough (March 16, 2017). “The Fed Acts. Workers in Mexico and Merchants in Malaysia Suffer”The New York Times. Retrieved March 18,2017Rising interest rates in the United States are driving money out of many developing countries, straining governments and pinching consumers around the globe.

External links

https://en.wikipedia.org/wiki/Federal_funds_rate

Missy Higgins

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Missy Higgins
A woman in her twenties with short blonde hair, wearing a black jacket and grey shirt with black stripes.

Missy Higgins, ARIA No. 1 Chart Awards, 10 August 2012
Background information
Birth name Melissa Morrison Higgins
Born 19 August 1983 (age 36)
Origin MelbourneVictoria
Genres Pop rockindieacoustic
Occupation(s) Singer-songwritermusician
Instruments Vocalspianosynthesiserguitarmelodicaxylophonecowbellukulele
Years active 2001–present
Labels Eleven
Reprise
Warner Bros.
Associated acts
Website missyhiggins.com.au

Melissa Morrison Higgins (born 19 August 1983) is an Australian singer-songwriter, musician and actress. Her Australian number-one albums are The Sound of White (2004), On a Clear Night (2007) and The Ol’ Razzle Dazzle (2012), and her singles include “Scar“, “The Special Two“, “Steer” and “Where I Stood“. Higgins was nominated for five ARIA Music Awards in 2004 and won ‘Best Pop Release’ for “Scar”. In 2005, she was nominated for seven more awards and won five. Higgins won her seventh ARIA in 2007. Her third album, The Ol’ Razzle Dazzle, was released in Australia in June 2012 (July 2012 in the US). As of August 2014, Higgins’ first three studio albums had sold over one million units.[1]

Higgins’ fourth studio album, OZ, was released in September 2014 and consists of cover versions of Australian composers, as well as a book of related essays.

Alongside her music career, Higgins pursues interests in animal rights and the environment, endeavouring to make her tours carbon neutral. In 2010 she made her acting debut in the feature film Bran Nue Dae and also performed on its soundtrack.

Biography

Early life

Higgins was born in Melbourne, Victoria, to Gregory Higgins, an English-Australian Tipstave, and Margaret (née Morrison), an Australian childcare centre operator.[2][3] Her sister, Nicola, is seven years older and her brother, David, six years older.[3] Higgins learned to play classical piano from age six, following in the footsteps of Christopher and David, but realised she wanted to be a singer at about 12, when she appeared in an Armadale Primary School production of Andrew Lloyd Webber‘s musical Joseph and the Amazing Technicolor Dreamcoat.[4] Bored with practice, she gave up playing piano at that time.[5] Hoping for more freedom, she urged her parents to send her to Geelong Grammar School, an independent boarding school that her siblings attended. At Geelong, Higgins took up the piano again, this time playing jazz and performing with her brother David’s group on weekends.[6]Introverted by nature, Higgins found that piano practice helped her cope with living at boarding school.[5]

At 15, while attending Geelong Grammar’s Timbertop, she wrote “All for Believing” for a school music assignment, completing it just hours before the deadline.[7] The assignment earned an A and she performed her song in front of classmates. She approached a Melbourne record company and was told that they wanted more than one song.[5] She wrote more songs and worked with the Kool Skools project, which enables students to record music.[8] In 2001, Missy’s sister Nicola entered “All for Believing” on her behalf in Unearthed, radio station Triple J‘s competition for unsigned artists. The song won the competition and was added to the station’s play list.[9]

Two record companies showed an interest in Higgins—Sony and Eleven.[5] She signed with Eleven, partly because they agreed that she would not be “made into a pop star”[10] and partly because they were happy for her to take time off for a backpacking holiday.[5]Higgins’ manager is Eleven’s John Watson, who also manages rock band Silverchair.[2] Watson later disclosed that “Missy’s the only time in my career I knew after 90 seconds I really wanted to sign her.”[11] The backpacking trip had been planned with a friend for years and the pair spent most of 2002 in Europe; while Higgins was travelling, “All for Believing” started to receive airplay on Los Angeles radio station KCRW.[12] Such radio exposure attracted the attention of American record labels and, by year’s end, an international recording deal with Warner Bros. had been negotiated.[13]

2003–2005: The Sound of White

Higgins is seated. She sings into a microphone and plays a keyboard instrument. The lettering RD-300SX and Roland are visible across its front.

Higgins, San Francisco, 11 August 2005
Courtesy Nabeel Hyatt

Higgins was the support act on a 2003 Australian tour by folk rock band The Waifs and rock band george.[13] She travelled to the US to work with John Porter, who produced her first EPThe Missy Higgins EP,[14] which was released in November and entered the Australian Recording Industry Association (ARIA) Singles Chart Top 50 in August 2004.[15]

She toured Australia, supporting Pete Murray and John Butler Trio.[16] Her four-track single “Scar'” was released in July 2004 and debuted at No. 1 on the ARIA Charts.[15][17] Her first album, The Sound of White, was released in September, and debuted at No. 1 on the ARIA Albums Chart.[15] Also produced by Porter, it sold over 500,000 copies.[18] She was nominated in five categories at the ARIA Music Awards of 2004 for “Scar”: Best Female Artist’, ‘Single of the Year’, ‘Best Pop Release’, ‘Breakthrough Artist – Single’ and ‘Best Video’ (directed by Squareyed Films).[19] At the awards ceremony on 17 October she received the award for Best Pop Release, beating Delta GoodremThe DissociativesKylie Minogue and Pete Murray.[19] This was followed by her first national headline tour.[20] Her second single “Ten Days” was co-written with Jay Clifford (guitarist in US band Jump, Little Children) and was inspired by Higgins’ 2002 break-up with her boyfriend before she travelled to Europe.[21] Released in November, it peaked at No. 12.[15]

On 29 January 2005 Higgins performed with other local musicians including Nick Cave and Powderfinger at the WaveAid fundraising concert in the Sydney Cricket Ground.[22] The concert raised A$2.3 million for four charities supporting the victims of the 2004 Indian Ocean earthquake.[23] In March Higgins performed at the MTV Australia Awards and won the prize for ‘Breakthrough Artist of the Year’.[24] The following month she released her third single, “The Special Two”, which was a radio hit and reached No. 2.[15] “The Special Two” was released on an EP which included her cover of the Skyhooks song, “You Just Like Me Cos I’m Good In Bed”, recorded for Triple J‘s 30th anniversary. The song had been the first track played on Triple J when it launched (as Double J) in 1975.[25] In May, Higgins won the ‘Song of the Year’ and ‘Breakthrough’ awards for “Scar” from the Australasian Performing Right Association (APRA).[26] She continued touring in mid-2005 and released her fourth single, “The Sound of White”, in August.[15] In September she played a sold out performance at the Vanguard in Sydney with the proceeds going to charity.[27] She was nominated for seven more ARIAs and in October won ‘Album of the Year’, ‘Best Pop Release’, ‘Breakthrough Artist – Album’ and ‘Highest Selling Album’ (all for The Sound of White) and ‘Best Female Artist’ (for “Scar”).[28] She teamed up with fellow ARIA award-winning singer Ben Lee in late 2005 for a national tour.[29]

2006–2009: On a Clear Night

Higgins stands and plays an acoustic guitar with her left hand high on the fret board. She sings into a microphone. Her right arm and bottom of guitar are not in view. Background has large stage lights.

Higgins, Live Earth concert, Sydney, 7 July 2007
Courtesy Itapp

During 2006, Higgins lived in Broome, Western Australia for six months, away from the entertainment industry. The relaxed lifestyle helped her focus on writing new material.[30] The landscape made a big impression, “It was the first place I’d ever felt honestly connected with my country, with the physical land of my country” and inspired her to write “Going North”.[31] She then toured the United States and South Africa, writing more material on the road.[32] In September she based herself in Los Angeles to record her second album, On a Clear Night, with producer Mitchell Froom.[33][34] “Steer” was released as an EP, followed a fortnight later by its album on 28 April 2007, both debuted at No. 1 on their respective charts.[15]

In February, Higgins had contributed a tribute song to the album, Cannot Buy My Soul, for noted indigenous singer, Kev Carmody, singing “Droving Woman” with musician Paul Kelly and group Augie March.[35] On 7 July, she participated in the Live Earth concert in Sydney, performing her own set before joining Carmody, Kelly and vocalist John Butler on stage for the song “From Little Things Big Things Grow“.[36] Emily Dunn in The Sydney Morning Herald wrote “[the song] could have been the event’s anthem”.[37] Rolling Stone‘s Dan Lander pointed out a highlight, when the “whole crowd sung along – all eleven verses.”[38]

Higgins returned to Los Angeles to focus on the US market—she spent September and October touring—where she was still relatively unknown.[39] On 26 October, backed by the Sydney Youth Orchestra, she headlined the annual Legs 11 concert, a breast cancer benefit held in The DomainRoyal Botanic Gardens, Sydney.[40] Two days later Higgins performed at the 2007 ARIAs where she was nominated for ‘Best Pop Release’, ‘Highest Selling Album’ and ‘Highest Selling Single’ (for “Steer”) and won ‘Best Female Artist’ (for On a Clear Night)—her seventh ARIA Music Award.[41] On 31 October, she was a guest at television music channel MAX‘s inaugural Concert for the Cure, a private concert for people affected by breast cancer. She sang headline act Powderfinger’s “Sunsets” with front man Bernard Fanning and joined in with the encore of “These Days“.[42][43] She spent November and December on her For One Night Only Tour, taking in Cairns, Sydney and Perth. You Am I lead singer, Tim Rogers, joined her on some shows.[44]

On a Clear Night, was released in the US on 26 February 2008, supported by a tour in March. Her ten-month stay in Los Angeles during 2008 promoted her songs for films and television shows.[33][45] Her first US single “Where I Stood” was featured in US series including Grey’s AnatomyOne Tree Hill and So You Think You Can Dance.[46] During 2008, Higgins supported the Indigo Girls and then Ben Folds on their respective US tours.[47] February and March 2009 saw her co-headlining a US tour with Canadian Justin Nozuka.[48] On 31 March she released an EP, More Than This in Australia that features cover versions of “More Than This” by Roxy Music, “(I’m) In Love Again” by Peggy Lee, “Breakdown” by Tom Petty and “Moses” by Patty Griffin.[49] “Moses” had been included on Triple J’s 2005 compilation album Like a Version: Volume One and “More Than This” was recorded as part of Covered, A Revolution in Sound, a Warner Bros. tribute album also released in March 2009.[50]

2010–2013: The Ol’ Razzle Dazzle

Higgins performing live in December 2012

Higgins started writing music for her third album in 2009.[51] After about seven years of touring and recording she took a break from the music industry to pursue other interests.[52] In 2010 she enrolled in a course in indigenous studies at the University of Melbourne.[53] Her acting debut was as Annie in 2010 film Bran Nue Dae directed by Rachel Perkins. The film is an adaptation of the 1990 musical, Bran Nue Dae, “Australia’s first Aboriginalmusical”.[54] Although Higgins would consider future acting projects she has no plans to actively pursue it as a career.[51][55]

In July and August 2010, Higgins played several dates of Sarah McLachlan‘s Lilith Fair tour in the US.[56][57] At Lilith Fair, she met Australian musician Butterfly Boucher and they decided to work together. In 2011, Higgins travelled to where Boucher was living in Nashville to record her third album, which is co-produced by Boucher and Brad Jones.[58] Titled The Ol’ Razzle Dazzle, the album was released on 1 June 2012.[59] Its first single, “Unashamed Desire“, co-written with Boucher, was released on 23 April.[60] In November 2011, at the ARIA Music Awards, Higgins performed a duet of “Warwu”with Geoffrey Gurrumul Yunupingu, from his Rrakala album.[61]

“The Ol’ Razzle Dazzle” album debuted at #1 on the ARIA Albums Chart the week of 12 June 2012. It was Higgins’ 3rd straight number one album. As of January 2019, Higgins ties Olivia Newton-John for the 3rd highest tally of Australian Number One albums by an Australian female artist. Only Delta Goodrem (with four Number 1 ARIA albums) and Kylie Minogue and Kasey Chambers (with five each) have achieved more.

2014: Oz

In September 2014, Higgins released her fourth studio album, Oz, which features cover versions of Australian composers, including The Angels, Slim Dusty, Something For Kate, Warumpi Band, Paul Kelly and The Drones. The album is also accompanied by a book of related essays, in which Higgins uses each of the recordings to reflect upon subjects such as music and love.[62] Higgins collaborated with Dan Sultan for the recording of the Slim Dusty song “The Biggest Disappointment”.[63]

Higgins explained in an October 2014 interview that she experienced a significant bout of writer’s block following the completion of her second album and someone suggested an album of cover versions at the time, but she only revisited the idea during the conception of Oz. Higgins further explained:

I responded to all these songs on an emotional level, when I first heard them. I wanted songs I felt I could tell with my own voice, and interpret them authentically … But it was important to maintain the emotional integrity and the heart of the song. It was a high priority to keep true to the songs.[63]

The album was co-produced by Jherek Bischoff, who previously worked with David Byrne, formerly of Talking Heads, and Amanda Palmer.[1]

Oz debuted at number 3 on the ARIA Albums chart[64] and remained in the top five positions until 18 October 2014.[65]

The national Australian tour in support of Oz commenced on 20 September 2014 in Cairns, Queensland, and ended in Melbourne in October 2014. Higgins was accompanied by Bischoff, and Australian artist Dustin Tebbutt appeared as a special guest.[1]

2015–present: Solastalgia and The Special Ones

Higgins, performing live in Taronga Zoo, February 2016.

On 19 February 2016, Higgins released a new single titled, “Oh Canada“,[66] in her response to the Death of Alan Kurdi.

In May 2017, Higgins released “Torchlight“, for the Australian drama film, Don’t Tell.[67]

In October 2017, Higgins appeared in a revival of the 1996 musical Miracle City by Nick Enright and Max Lambert at the Sydney Opera House, playing the role of Bonnie Mae.[68]

In February 2018, Higgins released the single “Futon Couch“, the first single from her fifth studio album, called Solastalgia, released in May 2018.[69]

In February 2018, it was announced that Missy Higgins would support Ed Sheeran‘s tour around Australia.[70]

In November 2018, Higgins released her first greatest hits album titled The Special Ones.[71]

Musical influences and technique

Higgins grew up in the 1980s and 1990s listening to artists that her older siblings liked—Nicola played Mariah Carey and Whitney Houston, while David favoured Queen and Kiss.[72][73] Departing for boarding school at age 13, she was exposed to alternative artists like Nirvana and Hole and started teaching herself guitar and writing her own music.[73] She also began singing with David’s jazz group on weekends. As an adult she prefers Nina Simone and Ray Charles to “poppy dance music”.[73] She has cited Patty GriffinRon SexsmithRufus WainwrightPaul Kelly and Sarah McLachlan as influences.[5][51][74] Material from her third album is influenced by ambient music from LowJon Hopkins, Icelandic band Sigur Rós and Estonian classical composer Arvo Pärt.[51]

Higgins’ song writing grew out of a desire to express her emotions when she was at school and her lyrics describe her feelings about her own life and relationships.[75][76] The piano was the first instrument she learned to play, and she continues to use it as well as digital pianos including a Roland RD-300SX, RD-700 and KR-15.[77][78] She also uses guitars extensively in her music particularly when touring, due to their portable nature and favours the Australian brand, Maton.[78] On occasion she plays keytarxylophone and melodicaduring performances.[31][79]

On 7 September 2012, Higgins recorded a cover version of Gotye‘s “Heart’s A Mess” for the “Like a Version” segment on Australian radio station Triple J, explaining on-air that the song is her favourite Gotye composition. Higgins had travelled with Gotye previously and referred to him as “an incredible singer” in the interview prior to the rendition.[80]

Causes

As a vegetarian, Higgins promoted the health benefits of not eating meat in a 2005 advertising campaign by People for the Ethical Treatment of Animals (PETA);[81] and has supported their anti-fur stance.[45] She is interested in environmental issues and is involved with the Sierra Club, a grassroots organisation based in California.[45] She has protested against the proposed industrialisation of the Kimberley region of Western Australia and donated the royalties from her 2009 EP More Than This.[49] Since early 2007, Higgins has tried to make her tours carbon neutral, she purchases green energy to power venues, uses hybrid cars where possible and purchases carbon offsets.[82]

On 5 October 2012, Higgins performed at two “Save the Kimberley” events held at Federation Square in Melbourne and The Esplanade in Fremantle, Western Australia.[83][84] A march to protest against the proposed gas refinery construction at James Price Point accompanied the free concert and campaign supporters were photographed with banners and placards.[85]

As of 2012, Higgins is one of numerous publicly known advocates for the ‘Oscar’s Law’ campaign. The campaign, launched in 2010, protests against the existence of “puppy factories” in Australia, whereby animals are factory farmed. One of the campaign’s slogans is “Break the Puppy Trade—Don’t buy puppies from pet shops” and the list of notable advocates includes Paul Dempsey (musician), Kate Ceberano (singer) and Mick Molloy (comedian).[86]

In response to the proposed dumping of around 3 million cubic metres (110 million cubic feet) of dredged seabed onto the Great Barrier Reef,[87] a legal fighting team was formed by World Wide Fund for Nature (WWF)-Australia and the Australian Marine Conservation Society (AMCS) in late 2013/early 2014.[88] The legal team received further support in April 2014, following the release of the “Sounds For The Reef” musical fundraising project. Produced by Straightup, the digital album features Higgins, in addition to artists such as The HerdSiettaJohn ButlerThe Cat EmpireFat Freddys Drop, The Bamboos (featuring Kylie Auldist) and Resin Dogs. Released on 7 April, the album’s 21 songs were sold on the Bandcamp website.[89][90]

Personal life

Higgins has been a patron of multiple mental health charities since 2003. She described her younger self as “a bit of a depressed child” and “introverted”, and that she had “experienced various degrees of depression”.[14][91] Prescribed antidepressant medication while in high school, she learned to channel low moods into songwriting, calling music her “emotional outlet”.[3][72] In a 2006 interview she said that her songs were “coming from more of a happier place”.[92] While recording her second album she discovered a passion for rock climbing, as a “meditative pursuit”[93] and that, “It’s the first and last thing I’ve had — other than music — that I’m passionate about.”[72]

From 2004 to 2007, Higgins’ sexual orientation was the subject of media speculation based partly on interpretations of her lyrics and her interviews. In an October 2007 interview with Australian lesbian magazine Cherrie, she was asked if she fell under the moniker of “not-so-straight” girls. She replied “Um, yeah, definitely. … I think sexuality is a fluid thing and it’s becoming increasingly more acceptable to admit that you’re that way.”[94] In November her Myspace page reported, “I’ve been in relationships with both men and women so I guess I fall most easily under the category ‘Bisexual'”.[95][96]

In 2013, Higgins began a relationship with Broome playwright and comedian Dan Lee.[97][98] Higgins gave birth to her son named Samuel Arrow Lee, on 5 January 2015.[99] They got married in March 2016,[100][101] and she gave birth to daughter named Luna, on 13 August 2018.

Discography

Filmography

Awards and nominations

Higgins at the ARIA Awardsceremony, December 2013, Star Event Centre, Sydney

APRA Awards

The APRA Awards are presented annually from 1982 by the Australasian Performing Right Association (APRA).[102] Higgins has won two awards from six nominations.[103][104]

 
Year Nominee / work Award Result
2005 Scar” (Missy Higgins, Kevin Griffin) – Missy Higgins Song of the Year[103] Won
Ten Days” (Missy Higgins, Jay Clifford) – Missy Higgins Song of the Year[105] Nominated
Missy Higgins Breakthrough Award[104] Won
2006 The Special Two” (Missy Higgins) – Missy Higgins Song of the Year[106] Nominated
Most Performed Australian Work[106] Nominated
“Ten Days” (Missy Higgins, Jay Clifford) Most Performed Australian Work[106] Nominated

ARIA Awards

The ARIA Music Awards are presented annually from 1987 by the Australian Recording Industry Association (ARIA). Higgins has won nine awards from twenty-four nominations.[107][108]

 
Year Nominee / work Award Result
2004 Scar Single of the Year Nominated
Best Female Artist Nominated
Breakthrough Artist – Single Nominated
Best Pop Release Won
“Scar” – Squareyed Films Best Video Nominated
2005 The Sound of White Album of the Year Won
Best Female Artist Won
Highest Selling Album Won
Breakthrough Artist – Album Won
Best Pop Release Won
The Sound of White – Cathie Glassby Best Cover Art Nominated
The Special Two Single of the Year Nominated
Highest Selling Single Nominated
2006 If You Tell Me Yours, I’ll Tell You Mine Best Music DVD Nominated
2007 On a Clear Night Best Female Artist Won
Best Pop Release Nominated
Highest Selling Album Nominated
Steer Highest Selling Single Nominated
2008 Peachy Best Female Artist Nominated
2012 The Ol’ Razzle Dazzle Best Female Artist Nominated
Album of the Year Nominated
Best Adult Contemporary Artist Won
Everyone’s Waiting” – Natasha Pincus Best Video Won
2013 “Set Me on Fire” Best Female Artist Nominated
2018 Solastalgia Best Adult Contemporary Album Nominated

Other awards

She has won an MTV Australia Video Music Award.[24]

References …

https://en.wikipedia.org/wiki/Missy_Higgins

 

 

Story 4: President Trump Energy Speech at Shell Pennsylvania Petrochemicals Complex in Monaca, Pennsylvania 

FULL SPEECH: President Trump speech on energy in Pennsylvania

Trump was supposed to give a speech on energy. He went way off script.

Updated 

President Donald Trump on Tuesday headed to a Shell petrochemicals plant being built outside Pittsburgh to give what was billed by the White House as a speech on “America’s Energy Dominance and Manufacturing Revival.”

But the hourlong address was light on energy policy and heavy on stump speech material and off-script riffs, as Trump touched on everything from his love of trucks to his assessment of his potential 2020 rivals. The meandering speech came on a day when the president had already attacked a CNN anchor, endorsed a controversial World Series hero’s potential congressional bid and defended his parroting of a conspiracy theory concerning the apparent suicide of his onetime friend Jeffrey Epstein.

Here are some of Trump’s most off-key comments:

On the supposed benefits of natural gas over renewable energy: “When the wind stops blowing, it doesn’t make any difference does it? Unlike those big windmills that destroy everybody’s property values, kill all the birds. One day the environmentalists are going to tell us what’s going on with that. And then all of a sudden it stops. The wind and the televisions go off. And your wives and husbands say: ‘Darling, I want to watch Donald Trump on television tonight. But the wind stopped blowing and I can’t watch. There’s no electricity in the house, darling.’”

On his construction chops: “I was a good builder. I built good. I love building; in fact, I’m going to take a tour of the site.”

On doing some campaigning: “I’m going to speak to some of your union leaders to say, ‘I hope you’re going to support Trump, OK?’ And if they don’t, vote ‘em the hell out of office because they’re not doing their job — it’s true.”

On his love of trucks: “I love cranes, I love trucks of all types. Even when I was a little boy at 4 years old, my mother would say, ‘You love trucks.’ I do, I always loved trucks, I still do. Nothing changes — sometimes you know you might become president, but nothing changes — I still love trucks. Especially when I look at the largest crane in the world, that’s very cool. You think I’ll get to operate it? We’ll put the media on it and I’ll give them a little ride, right?”

On pundits suggesting he might not leave office willingly: “Can you imagine if I got a fair press? I mean, we’re leading without it; can you imagine if these people treated me fairly? The election would be over. Have they ever called off an election before? Just said, ‘Look just let’s go, go on four more years.’ You want to really drive them crazy? Go to #ThirdTerm, #FourthTerm — you’ll drive them totally crazy.”

On what Trump perceives as a trade imbalance with Japan: “They send us thousands and thousands — millions of cars, we send them wheat. Wheat. That’s not a good deal. And they don’t even want our wheat. They do it because they want us to at least feel that we’re OK, you know, they do it to make us feel good.” This assertion is false.

On the price tag of the presidency: “This thing is costing me a fortune, being president. Somebody said, ‘Oh, he might have rented a room to a man from Saudi Arabia for $500.’ What about the $5 billion that I’ll lose — you know, it’s probably going to cost me, including, upside, downside, lawyers, because every day they sue me for something. These are the most litigious people. It’s probably costing me from $3 to $5 billion for the pleasure of being — and I couldn’t care less, I don’t care. You know if you’re wealthy, it doesn’t matter. I just want to do a great job.”

On his pledge to salvage manufacturing jobs: “You guys, I don’t know what the hell you’re going to do. You don’t want to make widgets, right? You don’t want to make — do you want to learn how to make a computer? A little tiny piece of stuff. … You put it with those big, beautiful hands of yours like … you’re going to take these big hands, going to take this little tiny part. You’re going to go home, ‘Alice this is a tough job.’ Nah, you want to make steel, and you want to dig coal — that’s what you want to do!”

On the number of members of the media at the event, at about 2:45 p.m.: “That’s a lot people back there for, like, an 11 o’clock speech. That’s a lot of people.”

On the Oscars: “Like the Academy Awards during the day, it used to be — you know the Academy Awards is on hard times now, you know that right? Nobody wants to watch it. You know why? Because they started taking us on, everyone got tired of it. It’s amazing. That used to be second after the Super Bowl, and then all of a sudden now it’s just another show because people got tired of people getting up and making fools of themselves and disrespecting the people in this room and the people that won the election in 2016.”

On attacking Sen. Elizabeth Warren and former Vice President Joe Biden, potential 2020 rivals: “I did it very early with Pocahontas, I should have probably waited. She’s staging a comeback on Sleepy Joe. I don’t know who’s going to win, but we’ll have to hit Pocahontas very hard again if she does win. But she’s staging a little bit of a comeback. What a group — Pocahontas and Sleepy Joe.”

On Mexico deploying soldiers to stem the flow of Central American migrants: “I want to thank Mexico, it’s incredible. We have close to 27,000, you think of that. We never had three — I think we had about 2½ soldiers, one was sitting down all the time. We had nobody.”

https://www.politico.com/story/2019/08/13/donald-trump-energy-speech-pittsburgh-1461337

 

Shell Pennsylvania Petrochemicals Complex
Monaca, Pennsylvania

2:06 P.M. EDT

AUDIENCE:  USA!  USA!  USA!

THE PRESIDENT: Well, thank you very much.  And thank you, Gretchen.  It’s great to be back in the incredible Commonwealth of Pennsylvania.  Great place.  And this is my 13th visit to Pennsylvania during my administration, which is more than any other President to this point in the term.

And I really love Pennsylvania.  I went to school in Pennsylvania — Philadelphia.  So, we love this state.  And I love the unions and I love the workers.  And, you know, when I built buildings in New York — (applause) — I built them exclusively with unions.  People don’t understand that.  I was exclusive.

And, in the last really great election, our election of 2016, you know, we did great with the union workers.  Great.  But we didn’t do good with the leadership.  The leadership said, “Well, we’ve always gone Democrat.  Let’s keep going that way.”  That didn’t work out too well for some of them, I want to tell you.  (Applause.)  I’ll tell you.  And as Gretchen said, this would have never happened without me and us.  This would have never happened.  So, I’m with you.  I’m with you.  Remember that.
And remember that Pennsylvania — you know, Pennsylvania has the best numbers they’ve ever had in the history of the state.  And that’s for a very good reason.  And you know what that reason is.

(Audience member waves.)  Hello.  Here I am.  (Applause.)

And I’m truly honored to be here with the amazing energy workers and construction workers.  These are talented people.  The craft workers who make America run and who make America proud.  We’re proud again.  We’re proud again.  (Applause.)

And no one in the world does it better than you.  Nobody.  Nobody does it better.  There’s nobody in the world that does it.  And we’re unleashing that power again like we’ve never seen before, I will say.

And we are doing well and we’re fighting against a lot of countries that have taken advantage of us for many, many years.  But they’re not doing it so much anymore.  And in a little period of time, they won’t be doing it at all anymore.  They have taken advantage of this country.  (Applause.)

Today, we celebrate the revolution in American energy that’s helping make our economy the envy of the world.  This Shell petrochemical plant in Beaver County, Pennsylvania — I did very well here.  We did very well.  How many points did we win by?  Does anybody know?  I’ll tell you.  Isn’t it, I think, 28 points?  That’s a lot.  That’s against a Democrat — (laughter) — or whatever.

It’s one of the single-biggest construction projects in the nation.  And it made it possible and was possible by clean, affordable, all-American natural gas.  Powerful, clean, natural gas.  (Applause.)

And when the wind stops blowing, it doesn’t make any difference, does it?  Unlike those big windmills that destroy everybody’s property values, kill all the birds.  Someday, the environmentalists are going to tell us what’s going on with that.  And then, all of a sudden, it stops; the wind and the televisions go off.  And your wives and husbands say, “Darling, I want to watch Donald Trump on television tonight.”  (Laughter.)  “But the wind stopped blowing and I can’t watch.  There’s no electricity in the house, darling.”  No, we love natural gas and we love a lot of other things, too.

Each of you is taking part in the largest investment in Pennsylvania history.  It’s the largest investment in the history of Pennsylvania, in the history of our country — the money that’s being invested in your state right now.

With your help, we’re not only unleashing American energy, we’re restoring the glory of American manufacturing, and we are reclaiming our noble heritage as a nation of builders again.  (Applause.)  A nation of builders.

I was a good builder.  I built good.  I love building.  In fact, I’m going to take a tour of the site.  They said, “Sir, we were going to do it before the speech, but we’re waiting for it to stop raining.”  I said, “Don’t worry about the rain.  Do we have umbrellas?  Don’t worry about the rain.  Umbrellas work very well, especially when they’re made in America.”  (Laughs.)  (Applause.)  So, I don’t care.  But we’re going to take a tour afterwards.

I’m going to speak to some of your union leaders to say, “I hope you’re going to support Trump.”  Okay?  (Applause.)  And if they don’t, vote them the hell out of office because they’re not doing their job.  It’s true.  It’s true.  (Applause.)  Vote them out of office.

When completed, this facility will transform abundant natural gas — and we have a lot of it — fracked from Pennsylvania wells, which they never would have allowed you to take if I weren’t President.  If my opponent won, this would be a lot of nice, new structures outside.  I guess you would have stopped long ago.  You would have stopped construction before it started too much.

But I was talking to Gretchen.  They would have never gotten the approvals to do what’s needed to fuel these plants.  That wouldn’t have been good.  So, probably, they wouldn’t have started.  But if they would have started, it would have stopped.

But they put it into plastic through a process known as “cracking.”  That raw material will then be shipped all over the country and all over the world to be fashioned into more products stamped with that very beautiful phrase: “Made in the USA.”  Right?  “Made in the USA.”  (Applause.)  Beautiful.

AUDIENCE:  USA!  USA!  USA!

THE PRESIDENT:  That is a beautiful phrase.

Getting this massive job done right has required more than 1,500 pieces of heavy equipment; one of the largest cranes anywhere in the world — I look forward to seeing it.  I love cranes.  I loves trucks of all types.  Even when I was a little boy at four years old, my mother would say, “You love trucks.”  I do.  I always loved trucks.  I still do.  Nothing changes.  Sometimes, you know, you might become President but nothing changes.  I still love trucks, especially when I look at the largest crane in the world.  That’s very cool.  Do you think I’ll get to operate it?  I don’t know.  (Applause.)  We’ll put the media on it, and I’ll give them a little ride, right?   (Applause.)

And you have thousands of tons of concrete, aluminum and steel, and nearly 6,000 of the strongest, toughest, and most talented workers anywhere on Earth.  (Applause.)  True.  I know.  It was the Trump administration that made it possible.  No one else.  Without us, you would never have been able to do this.

I want to thank all of our great union members: the boilermakers, carpenters — (applause) — cement finishers — (applause) — electricians — (applause) — iron workers — (applause) — laborers — (applause) — millwrights — (applause) — operators — (applause) — plumbers — (applause) — painters — (applause) — steamfitters; I know them well.

And a group that I’ve used more than anybody that’s ever run for office times 1,000, because in New York City they would drive those cement trucks up to my building and those trucks were always on time, and sometimes they were lined up for six blocks when I was doing different things.  Even when I was doing the Wollman Rink, the city couldn’t build it.  Took them nine years.  They had no idea what they were doing.

And I had that whole big — about 70,000 feet — it’s like a massive office floor — bigger than an office floor.  We did it all in one day, and the trunks were lined up from Central Park all the way back into Harlem.  And they did it all in one day — that pour.  It was called a contiguous pour.  The city used to build little pieces.  A little piece here.  A little piece there.  A little piece here.  A little there.  (Laughter.)  A few years later: a little piece here.  Then they had pipes underneath and the pipes were made out of copper.

And during the evening, things would happen, like the copper would be stolen because it was very valuable.  (Laughter.)  So they’d have a little piece with copper, and then the rest of the pipe they’d lay.  And they’d get ready to pour, and they’d leave, and everybody would steal the copper.  So they — this took place for — I guess, from seven to nine years.  Nobody actually knows.  Nobody wants to talk about it.  (Laughter.)  But those trucks were operated incredibly well, and I never missed a delivery.  And it’s called the “Teamsters.”  (Applause.)

I also want to thank I also want to thank Bechtel, a real incredible company.  We talk about the great builders of the world: President Jack Futcher.  Where is he?  Where is he?  Jack.  Where is Jack?  (Applause.)  Jack.  What a great job you’ve done, Jack.  Some big ones.  Think of it this way, Jack.  If we don’t win, you won’t be doing anything in this country.  (Laughter.)  And, you know, the world follows us.  You see that.  The world follows us.  And it won’t be so good.  But you and I are friends, and you’re going to have a lot of work to do, I think, Jack.  A lot of work.  Thank you, Jack.  Great job.  (Applause.)  Jack has done an incredible job.  That’s an incredible company.  Incredible — they’re incredible builders.

And the Secretary-Treasurer of North America’s Building Trades Unions, Brent Booker.  Where’s Brent?  Brent.  Thank you.  Great job.  (Applause.)  Young guy.  You’re so young, Brent.  How the hell did you get that job?  (Laughter.)  Man.

We’re honored to be joined by two leaders who truly have the backs of American workers.  They’ve become friends of mine.  They do such an incredible job.  They break up the roadblocks.  We have a lot of roadblocks in this country, where you have — a little clause can stop a project.  A little clause can stop it for years.  And we break up those little clauses.  We break them up fast.  Energy Secretary Rick Perry.  Where’s Rick?  Rick?  (Applause.)  Thank you, Rick.  What a great guy.

I had to compete with him.  You know, he wanted to be President.  He was tough.  He was nasty.  Man.  (Laughter.)  He was nasty.  But then he said, “I want to do something great.”  And you have been incredible.  He ran Texas for like 14 years — (applause) — and he did it well.  And now he’s running a little thing called “Energy.”  And nobody has ever done it better.  Thank you, Rick, very much.  Great job.

And a man who has been incredible in every way.  You know, EPA — Environmental Protection Agency.  You’ve heard a lot of horror stories where nothing can get done, nothing gets passed.  It takes years and years and years to get a simple permit.  It can take 20, 21 years to get a road, before they reject it.  How about this?  They go 20 years — 21 years, in certain cases — for a highway or a road.  Not even a highway.  At the end of the 21st year, they vote to reject it.  How would you like to be — you’re a young person, you’re starting out, and you’re all excited about this project.  And it starts off as being a simple, straight road, and then it ends up being a total catastrophe because of nesting and lots of other things that we can take care of.  And it’s 20 years later, and then they reject it.  You’ve devote half of your working life to a rejection.  It happened to many people.

And we have a man that knows how to break it up but he’s also a great lover of the environment: EPA Administrator Andrew Wheeler.  He’s done an incredible job.  Andrew?  (Applause.)  Great job, Andrew.  Great.  Really great job.

And I also want to recognize some of my great friends that have helped me so much: Congressman John Joyce.  John?  (Applause.)  John.  Where is John?  John.  John, usually you’re in the front row.  I can’t believe this.  I guess you got shut out by the unions.  Look.  (Laughter.)  Thank you, John.  Fantastic job.  John Joyce.  Been a great friend — a great friend of all of us.

Speaker of the Pennsylvania House of Representatives Michael Turzai.  (Applause.)  Michael Turzai.  Thank you.  Michael, great job.  Thank you.  Good to see you, Michael.  Michael Turzai.  Great name in this state, I’ll tell you, for a long time.  How long has it been, Michael?  You’ve been there a long time.  How long?

SPEAKER TURZAI:  (Inaudible.)

THE PRESIDENT:  Okay.  Good luck.  (Laughter.)  It’s not that long.  Thank you, Mike.

And one of my good friends from Beaver County, David Urban.  David.  (Applause.)  David.  Where’s David?  David?  Thank you, David.  Great football player.  Great athlete.  And he was a Trump supporter.  He liked Trump.  And when he liked Trump, nobody was going to get in his way.  Right, David?

AUDIENCE MEMBER:  We love Trump!

THE PRESIDENT:  (Laughs.)  Thank you.  Thank you.
How are we doing in the state, David?  We looking good?

AUDIENCE MEMBER:  Four more years!

THE PRESIDENT:  Thank you.  I appreciate it.  (Applause.)  Thank you.

I think we’re looking very good.  I think we’re looking good all over: in Ohio, in North Carolina, in South Carolina, Florida.  We just got numbers in Florida.  We’re looking fantastically good.

Now, you know, sometimes — and they do.  They do.  They say, “Donald Trump…”  Can you imagine if I got a fair press?  I mean, we’re leading without it.  Can you imagine if these people treated me fairly?  (Applause.)  The election would be over.  Have they ever called off an election before?  Just said, “Look, just — let’s go.  Go on.  Four more years.”

Yeah.  And then, you want to really drive them crazy?  Go to “#thirdterm”; “#fourthterm.”  You’ll drive them totally crazy.  (Laughter.)  I mean, you have one guy on television: “I’m telling you, he’s not leaving.  He’s going to win and then he’s not leaving.  So, in 2024, he won’t leave.  I’m telling you…”  This is a serious person.  These people have gone stone-cold crazy.  (Laughter.)

And we’re grateful especially to the Chairman of Royal Dutch Shell.  That’s big stuff, folks.  You know, I’m a business guy.  When I hear “Royal Dutch Shell” — you know, until I became President, that was like a big deal, but now I don’t view it the same.  (Laughter.)  Once you’re President, nothing seems big.  Right?  Chad Holliday.  Where’s Chad?  (Applause.)  Chad understands it.  That’s a big deal, Chad.  But thank you for coming.  That’s a big deal.  You don’t get any bigger.  That’s an incredible company.

Shell’s U.S. President — you just met her and you know her; everybody knows her, and she’s got a lot of other things in store.  And she’s thanked me for what we’ve done here.  But I said, “Forget this.  We got a lot of jobs.  Let’s do a couple of more fast.  Do them fast.  We’ll get you fast approvals.”  And you may get rejected, you know, if it’s not going to be environmentally good, environmentally sound; if something is going to be wrong.  But we’re not going to take 20 years to reject you, like they did with the pipelines.  It didn’t matter; I approved them.  But that’s okay.

So we have pipelines — (applause) — oh — (applause) — we got plenty of pipeline folks here, don’t we?  Huh?  (Applause.)  I’ll tell you.  Hey, you know, that’s a bigger hand than we got from the Teamsters.  Do you believe that?  No, but, you know, they did that with the pipelines, right?  Keystone XL.  They did it with the pipelines.  Dakota Access Pipeline.  We’re building pipelines.  And if we get the pipelines approved, then you better work.  The EPA is working right now to get them approved in Texas.  And if we can do — we can increase our — we can increase.  We’re now the largest in the world in energy, by far.  But if we get those approved, Andrew — I hope Andrew is listening — EPA.  Andrew, you know what I’m saying, right?  If we get them approved in Texas fast — they said it will take 18 years.  I said, “Could you do it in about a month?”  (Applause.)  Right?

If we get, though — oh, look at those pipeline guys.  They’re so happy.  That’s a lot of jobs.  But, Andrew, if we get them approved fast, we can increase our entire output.  Texas is so big.  And it’s bigger — it turned out to be much bigger.

I also got you ANWR, in Alaska, which may be bigger than everything.  And they couldn’t get it.  Ronald Reagan couldn’t get it.  No President could get it.  And I got it approved, and we’re all set.  And so — (applause) — so we’re all set.

So, Andrew, in Texas, if you can get those pipelines going, you will be so happy.  We’ll have dinner with your family.  I’ll tell them how great you were.  (Laughter.)  Okay?  EPA.  Thank you, Andrew.

So I want to thank, though, Gretchen.  She’s been fantastic.  I also want to thank Vice President of Pennsylvania Chemicals Hilary Mercer.  I want to thank you very much for investing in the people of Pennsylvania.  (Applause.)  Hilary?  Where’s Hilary?  Thank you, Hilary.  (Applause.)  You’re investing in the people of Pennsylvania, so that’s a guarantee, as far as I’m concerned.

For generations, American greatness was forged, and fueled, and won by the extraordinary workers of this region.  This region is an incredible region.

Pennsylvania Steel raised the skyscrapers that built our cities.  And, by the way, steel — steel was dead.  Your business was dead.  Okay?  I don’t want to be overly crude.  Your business was dead.  And I put a little thing called “a 25 percent tariff” on all of the dumped steel all over the country.  And now your business is thriving.  Probably there’s few businesses that have gone proportionately up like steel and aluminum.
We did it with aluminum, too.  But they are doing well — 25 percent and 10 percent on aluminum.

And they still dump, but now the United States takes in billions of dollars and the dumping is much less, and the steel companies are thriving again.

We have to have a steel industry.  We can’t — (applause) — I mean, we need steel for defense.  We need steel — what are we going to do?  We have a little bit of a problem.  We have a little bit of a conflict.  We’ll say, “Listen, China, could you do us a favor?  We need help.  All our steel mills are closed.  Oh, damn it.  Could you send us some steel, please?  We don’t make steel anymore.”

Well, we make it now.  And I’ll tell you what: Those steel mills — U.S. Steel and all of them, all of them — they’re expanding all over the place.  New mills.  New expansions.  We hadn’t have — we didn’t have a new mill built in 30 years, and now we have many of them going up.

Many car plants — they’re coming in from Japan.  I told Prime Minister Abe — great guy.  I said, “Listen, we have a massive deficit with Japan.”  They send thousands and thousands — millions — of cars.  We send them wheat.  Wheat.  (Laughter.)  That’s not a good deal.  And they don’t even want our wheat.  They do it because they want us to at least feel that we’re okay.  You know, they do it to make us feel good.

But the deficit is massive, which — changing rapidly.  But what they’re doing is they’re buying a lot of our stuff, including our military equipment.  They’re building car plants now in the United States — in Michigan, in Pennsylvania.  Many, many of the Japanese car companies are coming over and building car plants in the United States.  It doesn’t fully do the trick, but it helps.  And those deficits will start coming down very substantially.

But we’re losing $78 billion.  For many years, we’re losing billions and billions with these countries.  And, frankly, the countries that we do the worst with are the allies — our allies.  Does that make sense to you?  Our allies take advantage of us far greater than our enemies.  And someday, I’m going to explain that to a lot of people.

Pennsylvania miners.  Do we love our miners?  (Applause.)  They lit up our towns and powered our industries.  And Pennsylvania factory workers made the American brand into the universal symbol of excellence all around the world — all over.

But, in recent decades, the loyalty of Pennsylvania workers was repaid only with betrayal.  They betrayed you.  They let your companies move to Mexico, to Canada, to China, to many other places.  We ended up with no income and massive unemployment.  Well, right now, our employment has reached the lowest level that it’s seen since the 1960s, and we’ll soon be breaking that record, I predict.  (Applause.)

And you’ve heard me say it, but now it’s even better.  Numbers just came out.  African American unemployment — lowest in history.  (Applause.)  Asian American, Hispanic American — lowest in the history of our country.  Women — lowest in 70 years.  (Applause.)  Sorry, women.  I let you down again.  Think of it: Lowest in 70 years, and I have to apologize to women.  But soon we’re going to have that — that will be a record very soon.  We’re very close to saying “lowest in history” for women — unemployment.

Today, we have more workers working in the United States than — almost 160 million — than at any time in the history of our country.  Think of that.  That’s a hell of a stat.  (Applause.)

The political class in Washington gutted your factories with horrendous trade deals — horrible.  NAFTA — one of the worst trade deals ever.  By the way, World Trade Organization, it made China.  China made themselves.  They did a good job.  But they ripped off our country for years, and with our money and World Trade Organization backing.  And then they took advantage of the rules of the World Trade Organization.  And I’m being nice when I say “took advantage.”  Much more than “took advantage.”  They went up like a rocket ship.  They were flat-lined for 100 years.  And then, one day, World Trade Organization — a terrible move.

And, you know, we were losing all our cases until I came along.  We were losing all our cases in the World Trade Organization.  Almost every case, we were — lost, lost, lost.  They thought we were stupid.  They were the ones ruling.

And then I came along.  Now we’re winning a lot of cases because they know that they’re not on very solid ground.  We will leave, if we have to.  And all of the sudden, we’re winning a lot of cases.  We’re winning most of our cases.  And it’s only because of attitude, because we know that they have been screwing us for years.  And it’s not going to happen any longer.  They get it.  They get it.  So they’re giving us victories.  They’re giving us victories.  (Applause.)

And I’d like to use a different word, but there’s no word that’s quite as —

AUDIENCE MEMBER:  (Inaudible.)

THE PRESIDENT:  Right?  There’s no word that’s quite as descriptive.  I’d like to.  But that’s exactly what they were doing.  They were taking advantage of us for years and years.  And now they understand that if it’s not going to be fair, it’s not going to be at all.  We don’t need it.  We don’t need it.

So, a lot of good things.  And I think we will — I think they will treat us fairly.  I mean, the concept should work.  But people have taken advantage.

Like, for instance, they view certain countries — like China, India, many countries — for a long time, they viewed them as “they’re growing.”  Right?  They’re “growing nations.”  We’re a “mature nation.”  They’re growing.  These are “growing nations.”

Well, they’ve grown.  And they had tremendous advantages.  But we’re not letting that happen anymore, okay?  We’re not letting that happen anymore.  Everybody is growing but us.  You know, they’re all “growing nations.”  We have to work with them, but nobody ever wants to work with the United States.  It’s a disgrace.  But it’s changing, and it’s changing fast.

And I think it’s the primary reason, probably, that I ran for President.  (Applause.)  I’d see these factories all over the country, and I’d see them empty, and I’d see the jobs going to other countries.  And I just never understood why the politicians didn’t do anything about it.  But now we’re doing it.

And, by the way, the USMCA — that’s Mexico and Canada — that deal is a fantastic deal.  And it’s a great deal for your unions, too.  We have the farmers, the unions, the manufacturers.  It’s good for everybody.  We have to get the Democrats to put it up for a vote.  And most Democrats are going to vote for it, too.  They’re under a lot of pressure to vote for it.

But that replaces one of the worst trade deals ever made, which is NAFTA.

But I watched them crush your industries with taxes and regulations, and they targeted American energy for total destruction.  You weren’t going to be able to take anything out.  That’s our gold.  That’s gold underneath our feet.  And they weren’t going to allow it to happen.

The Paris Accord: The Paris Accord was good for other countries.  It wasn’t good for us.

All the while, they expected you to stay on the sidelines, silence your voices, and surrender the future of our nation.  And you didn’t do it, but you didn’t have the right people representing you, so it didn’t matter.  But when you finally had the right person — the person that really cared — because let me tell — this thing is costing me a fortune, being President.  Somebody said, “Oh, he might have rented a room for — to a man from Saudi Arabia for $500.”  What about the $5 billion that I’ll lose?  You know, it’s probably going to cost me — including upside, downside, lawyers — because every day, they sue me for something.  (Laughter.)  These are the most litigious people.  It’s probably costing me from 3 to 5 billion for the privilege of being — and I couldn’t care less.  I don’t care.  You know, if you’re wealthy, it doesn’t matter.  I just want to do a great job.  That’s why — I don’t care.  I want to do the right job.

When this great building company comes here and wants to build a plant, I want to make it easy for them, not hard for them.  I’m not jealous of them.  I couldn’t care less.  Bechtel.  (Applause.)  I’m not jealous of them.

I got sued on a thing called “emoluments.”  Emoluments.  You ever hear the word?  Nobody ever heard of it before.  They went back.  Now, nobody looks at Obama getting $60 million for a book.  That’s okay.  Even though nobody in history ever got that money for a book.  Obama got $60 million.  Think of it: $60 million for a book.  Nobody looks — nobody looks at any —

But with me, it’s everything.  Emoluments.  Nobody knows what it is.  Here’s the good news: Last month, I just won two cases on emoluments.  And the judge was scolding of the other side.  And what it is, is presidential harassment because this thing is costing me a fortune, and I love it, okay?  I love it because I’m making the lives of other people much, much better.  (Applause.)
And each of you here today is living proof that America never surrenders.  We don’t surrender.  And we were in bad shape.  This area was in really bad shape.  And now you look outside, and you say, “That’s like the eighth wonder of the world.”

Under my administration, we’re fighting back and we’re winning because we are truly and finally putting America first.  (Applause.)  After years of building up foreign countries, we are finally building up our country.  Think of it, we protect the border of South Korea, but we don’t protect our own border.  But now we are.

And the wall is being built.  We won that case two weeks ago.  (Applause.)  We won that case.  The wall is being — and we’re going to have a lot of it.  We’re going to have anywhere from 400 to 500 miles built by the end of next year.  We’re building a lot of wall and we need it.  We need it.  We want people to come into our country.  They have to come in legally and we want them to come in through merit.  (Applause.)

The last administration tried to shut down Pennsylvania coal and Pennsylvania fracking.  If they got in, your fracking is gone, your coal is gone, you guys — I don’t know what the hell you’re going to do.  You don’t want to make widgets, right?  (Laughter.)  You don’t want to make — do you want to learn how to make a computer?  A little tiny piece of stuff you put in with those big, beautiful hands of yours.  (Laughter.)  They’re going to take these big hands — he’s going to take this little tiny part.  (Laughter.)  He’s going to go home, “Alice, this is a tough job.”  (Laughter.)  No, you want to make steel and you want to dig coal, and that’s what you want to do.

I was in West Virginia when Hillary made that terrible statement that she wants to close up all of the coal.

AUDIENCE:  Booo —

THE PRESIDENT:  She forgot: In three weeks, she was going to West Virginia.  Remember, she wanted to close up all coal.  She was in an area where they didn’t do the coal.  And she said, “Well, I look forward to closing up all coal.  It’s going to be closed.  Steel — going to be in big trouble.”  She forgot: In three weeks, she was going to West Virginia.  That didn’t work out too well.  (Laughter.)  I won that one by 42 points.  Forty-two points.  West Virginia.  (Applause.)

And I actually think, this time, we have a good chance of winning Virginia, which is a tough one to win because, you know, you have some people there that maybe don’t agree with us.  But I think we have a really good chance of Virginia, too, which is something that hasn’t been won by a Republican in a long time.  But it’s common sense.  Some — a lot of this is — you know, they say, politics — politics — great politics is common sense.

But on my first day in office, I ended the war on American energy.  And that’s common sense, I think.  You know, that’s common sense.  (Applause.)

We’re lucky.  You go to places like China, they don’t have oil and gas.  They don’t have it under their — they have to go buy it and then they devalue their currency and manipulate their currency.  And that costs them a fortune to go out and buy it.  They hurt themselves in the long run.  But they’re devaluing all over the place, as others are.

But we have this unbelievable — the greatest in the world.  We have the greatest resources, which really came about over the last few years.  Nobody knew this.  Fracking made it possible.  Other new technologies made it possible.  And now we’re the number-one — think of it, as I said — the number-one energy producer in the world.

I’m so proud of that because we wouldn’t have been number five.  They were going to close it up.  They were going to close it up.  And it’s common sense.  They wanted to take away our wealth.

That’s what the Paris Accord would have done.  It would have taken away our wealth.  It wasn’t for us; it was good for others.  It wasn’t for us.  We had to pay money to other countries that are very substantial countries.  They wanted to take away your wealth.  They didn’t want you to drill.  They didn’t want you to frack.  They didn’t want you to do steel.  They wanted to take away your wealth.

Now, the press will try and spin that differently, but I’m right, okay?  The fake news.  (Applause.)  That’s a lot of people back there for a — like an 11 o’clock speech.  That’s a lot of people.  (Laughter.)  That’s a lot.  That’s like the Academy Awards during the day.  (Laughter.)

It used to be.  You know, the Academy Awards is on hard times now.  You know that.  Nobody wants to watch it.  You know, why?  Because they started taking us on.  Everyone got tired of it.  It’s amazing.  That used to be second after the Super Bowl, and then, all of a sudden, now it’s just another show because people got tired of people getting up and making fools of themselves and disrespecting the people in this room and the people that won the election in 2016 — (applause) — and the people that won the Senate, without me on the ticket, in 2018.

You know, they never say that.  We won the Senate.  That’s why we’ll have appointed, within two months, 179 federal judges and two Supreme Court judges.  Think of that: 179.  (Applause.)  But they don’t say we won the Senate; they say we lost the House.  And, you know, there were a lot of people running for the House; it’s hard for me to campaign.  But almost everybody I campaigned for won.  We had tremendous records in ’18 and I wasn’t running.  There’s a big difference.  In 2020, we’re running, so you better get out there and make sure we win.  (Applause.)

And we have a record that nobody’s ever had.  Remember, when I was running, I was saying, “We’re going to do this.  We’re going to create jobs.”  Everyone — you know, big yawn.  And, you know, we like — “Let’s give him a shot.  What do we have to lose, right?”

I said that with African Americans.  They had the worst crime rates, the worst education, the worst everything.  They had like 10 things — I’m reading it off a list.  I looked — I said, “What the hell do you have to lose?”

But I really sort of said the same thing to everybody because our country wasn’t doing well with Biden and Obama.  It wasn’t doing well.  And they were pouring money in — pouring, pouring money in.  And it wasn’t doing well.

Even now, you know, you see the interest rates.  I’m paying a normalized interest rate.  We should be paying less, frankly.  This guy has made a big mistake.  He’s made a big mistake — the head of the Fed.  That was another beauty that I chose.  But even with that, we’re paying a normalized interest rate.

The nice thing is you get some interest from the bank.  With President Obama, he was paying nothing.  It’s easy to make money when you you’re paying nothing; you’re paying zero.  Easy.  But even with that, our economy is roaring and his wasn’t.  It was the weakest economy since the Great Depression.  The weakest up.

So we have it going.  Our country now has the hottest economy anywhere in the world.  Every time a prime minister, president, king, queen, dictator, whatever they may be — some are sort of mutual.  Some you have presidents and prime ministers who are actually dictators.  But they come in and they see me at the Oval Office, they always say — almost everybody — “Congratulations on your incredible economy.  What you’ve done is incredible: the tax cuts, the regulation cuts, all of the things we’ve done.”

And they were all saying — and they want to try and copy us.  It’s not easy to copy us. And part of the reason it’s not easy is because of the people like this, all over the country — the people in this room.  You are incredible people.  That was an incredible win.  Thank you.  (Applause.)  Incredible.  Incredible people.  Incredible people.

And here in the Appalachian region, where the Marcellus and Utica shale formations generate one-third of American natural gas — think of that.  You’ve been sitting on this for a long time, and yet, look at the numbers.  Look at the way you lived.  Because you never had anybody that wanted to take advantage of it, but now we’re taking advantage of it.  You’re sitting on gold, and we’re taking advantage of it.  And your future has never looked brighter or better.  It’s so great that you stayed, because you suffered.  This whole region — Appalachia.  The whole re- — it just suffered, this whole region, with great people — the greatest people.  And you suffered.

When this plant opens, 600 American workers will get the fulltime jobs, with quality healthcare, pensions, and great pay to support a family.  And you have — I said before — almost 2,000 construction workers.  And you’re going to another plant because we’re going to talk to Bechtel after this, and we’re talking to Shell.  I mean, you got the boss from Shell.  You people don’t realize, that’s a big deal.  I don’t know where the hell he comes from.  Where are you based?  It’s not in this country.  Hey, how about moving Shell to the United States?  (Applause.)  Well, we’re ready if you are.  Just let me know.  But they have their big USA division.  But that’s a great company.  It’s a big deal.  And that you’re here is a big deal.  That’s a big deal to me, and it’s a big deal to everybody in this room.  (Applause.)  You have the top man — top man at Shell.

But this is just the beginning.  My administration is clearing the way for other massive, multi-billion-dollar investments.  We just did one in Louisiana.  It’s a 10-billion-dollar plant.  There’s more pipes in that plant that I’ve ever seen in my life.  There’s more plant — you know that.  LNG.  It’s an LNG plant.  Ten billion dollars.  And we’re now — it’s totally sold out.  They sell it like you rent office space.  Can you believe it?  It’s all sold out.

All over the world, people have used it.  And you haven’t had a plant like that built in this country, really, ever, because there’s never been anything that big.  But you didn’t build plants like that because, environmentally, they weren’t letting you.  And yet, environmentally, it’s so good what they’ve done and what they can build today.

Investments that could bring more than 100,000 new jobs to this region are now being looked at very seriously.  And I think the hundred-thousand-doll- — I really do.  I feel the hundred thousand jobs, Andrew, is going to be a very low number.  I think you’re going to have many more.  This is an incredible region.  You’re sitting on top of something special.  It’s all fueled by the greatest treasure on the planet: American energy.  And we don’t want people taking that away from us.

Two more companies have recently proposed a 10-billion-dollar investment in the great state of Ohio.  Incredible state.  (Applause.)  We have tens of billions of dollars’ worth of investments, and this is really good stuff that we’re now negotiating.  But these two are in Ohio.  The energy revolution is also creating new jobs in West Virginia, [New] Mexico, Colorado, Texas, Kansas, Louisiana, Indiana, Michigan, Illinois, Tennessee, North Carolina, South Carolina, all across our beautiful land.  You have no idea what’s going on, including, as I said before, car companies.  We didn’t make cars.  Look, we lost 32 percent of our car companies to Mexico — before I got there, by the way.  Now it’s very, very hard to do that anymore.  Nobody is going to be looking that way, I don’t think.

And I want to thank Mexico because the President now has been great, and he’s got 27,000 soldiers on our southern border and on his border with Guatemala, keeping our borders safe.  (Applause.)  Our numbers are plummeting — the people coming in — (applause) — all because the Democrats won’t approve fixing the loopholes and asylum.  So, I want to thank Mexico.  It’s incredible.  We have close to 27,000 — so, you think of that.  We never had three.  I think we had about two and a half soldiers.  One was sitting down all the time.  We had nobody.

And don’t forget, the southern border is 2,000 miles, from the Gulf to the Pacific.  We have 27,000, and they’re doing a great job.  And they’re helping themselves too because they’re disrupting and really hurting the cartels.  So much of that stuff is run illegally by the cartels: human trafficking, drugs, people.  It’s terrible.  And Mexico, I’ll tell you, they’re — so far.  I hope they’re going to keep it up.  I hope they’re going to keep it up.  But they’ve been great.  And 27,000 people.  They wouldn’t have done that for any other President, that I can tell you.  That I can tell you.

With us today are a few of the hardworking Pennsylvania patriots who are making this comeback possible.

Jason Eckhart is the third generation of his family to work on these grounds.  And he’s doing better than any of them.  His father and — by the way, three years ago, you wouldn’t have said that.  Three years ago, his father would say, “Hey, I had it made.”  His grandparents would say, “We had it made.”  Now he can look at them and say, “Dad, we have it made.”

His father and grandfather worked for the zinc smelting company previously housed at this site.  When that plant closed in 2014, 500 jobs disappeared — like magic.  Remember President Obama, “You need magic to bring back manufacturing jobs.  You need a magic wand.”  You remember?  “Not going to happen.”  Well, so far, we’ve brought back 600,000 manufacturing jobs.  (Applause.)

And Jason never imagined he would get the chance to carry on his family’s legacy. But now, he has.  He is carrying it on, and he’s carrying it on proudly.  He’s a great American.  Jason — where are you, Jason?  Jason.  Jason.  Come on up, Jason.  Come on.  Let’s get Jason up.  (Applause.)  Come on up.  Jason.  I’d like Jason to tell us what this great facility means to him and to his family.  Thank you.

Jason, come tell us what this facility means to you.

MR. ECKHART:  Thank you, Mr. President.  (Applause.)

It’s been amazing to see the transformation on this site, from a 100-year-old zinc smelter to a state-of-the-art petrochem facility.  I’m very proud to be part of Pennsylvania Chemicals, to redevelop this site, and create the jobs in Western Pennsylvania for all of you.  (Applause.)

And it’s very exciting to think about what we have to come, starting this place up and having jobs into the future for our families.

As a native from this area — I’m from right here in Center Township — I can appreciate how much this means to the area.  I’m really proud to be a part of this and be proud of all you guys.  Thanks.  (Applause.)

THE PRESIDENT:  Thank you, Jason.  Great.  Did you enjoy doing that, Jason?  Huh?  I think so.  You had a big group of people back here that likes you a lot.  They’re giving him a hard time back there, right?  His friends.  Thanks, Jason.

Heather Michaux grew up here in Beaver County, and has been working for Shell in other states for several years.  Now she can raise her family right near her parents and loved ones, and actually be home, where she wants to be and where she belongs.

Heather, please come up and tell us about your journey.  (Applause.)

MS. MICHAUX:  Thank you, Mr. President.

THE PRESIDENT:  Thank you.

MS. MICHAUX:  So, for me, when Shell announced that we were going to be building a facility in Beaver County, I was in Texas and I was so excited — but not just for me getting to further my career and move home; I was excited for all the possibilities that had opened up for my hometown.  I was excited because I recognized the potential that a place like this has, for us to be able to hone our existing skills and to gain new ones, too.

So I knew that we, the hardworking people of Western Pennsylvania — and other places in the U.S., too — would now have this fresh opportunity and would take advantage of it.  And that’s the opportunity that I see the thousands of you folks taking advantage of now — not only today, but we’re also creating something that is going to well outlive us by building this site.  And I am really proud to be a part of that legacy, sir.

THE PRESIDENT:  Thank you very much.  (Applause.)  Great job.  Thank you.  She’ll be running for office soon.  (Laughter.)  Fantastic job.

Samantha Polizotto was a single mom working full-time when she learned about process technology training programs at the local community college, funded by Shell.  She became the first woman to graduate from that program, and she made the Dean’s List.  That’s pretty good.  Now she’s leading the way as one of the very first production operators hired here at Shell.

Samantha, please come up and say a few words.  Please.  (Applause.)

MS. POLIZOTTO:  Growing up in Beaver County, I can recall people talking of the “good old days,” when steel mills were running and, often, people were born and spent their whole lives in the same town.  Local families had multiple generations working the same industry and, in many cases, the same companies.

This was a fact for our parents.  But with the fall of the steel mills in this area, it began to see a period of stagnation.  Hardworking men and women in this area, full of pride, still lace up their work boots, driving by the vacant skeletons of the old mills and refineries, holding onto the hope that, one day, this area would see its former glory.

The announcement of Shell Pennsylvania Chemicals Plant seems to have kindled that spark within the community.  It has provided an opportunity for steady employment for many different skilled tradesmen, emptying many of the local union halls.

As a young woman, this has also afforded me an incredible opportunity to come into the ground floor of an unprecedented project.  In school, I chose a field far different than many of my female colleagues.  Process technology is a focused area of studies around production and operations.

Predominantly male-dominated careers, I knew there would be challenges as I entered the workforce.  Being a mother and a wife, I must balance my responsibilities at work and at home.  The challenges I have faced have been softened by a network of support that has been given to me not only by my family, but also through the Community College of Beaver County, my coworkers, and, now, the culture of care at Shell.  I am proud to play a role in this project, as it restores this area and makes Beaver County great again.  (Applause.)

THE PRESIDENT:  Thank you, Samantha.  That was a great job.  Thank you.

To help create more opportunities for workers like Jason, Heather, and Samantha, my administration started the Pledge to America’s Workers.  Our partners are providing over 12 million training and enhanced career opportunities to American workers.  And my daughter, Ivanka, is working so hard on it.  She’s done a great job.  Twelve million people, so far, have been positively affected.

Today, I’m pleased to announce that Shell is signing the Pledge to America’s Workers to provide enhanced career opportunities.  By the way, Shell, thank you.  (Applause.)  They’re providing career opportunities to 3,300 workers over five years, right here in Western Pennsylvania.  That’s great.  Thank you, fellas.  Thank you very much.  And thank you, Hilary, for that tremendous commitment that you’ve made.  We really appreciate it.  Fantastic job.

Under this administration, we live by two very simple words: Buy American.  That’s what we want.  I’m going to add something: “Hire American.”  It’s about hiring American, buying American.  It’s about “America First.”  It’s about “Make America Great Again.”  It’s about “Keep America Great.”  (Applause.)

Despite all of this exceptional progress, however, some politicians in this country still want to keep America’s vast energy treasures buried deep underground and let other nations take advantage of our country.  Not happening anymore.

They see factories like this one not as a cause for celebration, but for condemnation.  Democrats in Congress are pushing hard for the Green New Deal.  How about that one?  Green New Deal.

AUDIENCE:  Booo —

THE PRESIDENT:  Where it puts everybody in this room out of work — hate to tell you — and a lot more people.  Everybody out of work.  And other — but I don’t want to speak badly about it.  You know, you’ve heard me say this: I want to encourage them.  That should be their platform.  (Laughter.)  I don’t want to do it too early.  I did it very early, with Pocahontas; I should have probably waited.  She’s staging a comeback on Sleepy Joe.  (Laughter.)  I don’t know who’s going to win, but we’ll have to hit Pocahontas very hard again if she does win.  But she’s staging a little bit of a comeback.

What a group: Pocahontas and Sleepy Joe.  (Laughter.)  I don’t think they give a damn about Western Pennsylvania, do you?

AUDIENCE:  No!

THE PRESIDENT:  I don’t think so.  And other radical plans to wipe out our coal.  That’s what they want.  They want to wipe out our oil.  They want to wipe out our natural gas industries, while allowing other countries to steal our jobs.

Virtually every leading Democrat has vowed to eliminate fossil fuels, obliterating millions of American jobs, devastating communities, and bankrupting factories, families, and senior citizens all across this region.

And, by the way, this is only fuel that has the power for plants.  When you have to steam up and you have to fuel up on these giant plants, these giant generators, these giant electrical factories, you need what you’re doing.  You need this.  It’s got the power.  The other doesn’t have the power; certainly not yet.  Probably never will.

And we’re not taking chances.  And we have the cleanest air and water we’ve ever had in our country right now.  The cleanest we’ve ever had.  And we’re going to keep it that way.  (Applause.)

But we’re never going to allow other countries and outside sources to take away our great wealth, because that’s what they want to do.  They want to take away our wealth, take away our jobs.  We’re not going to let it happen.

To see the destructive results of the far-left’s energy nightmare, just compare the enormous success here in Pennsylvania with the tremendous folly happening right across a line — a little line — ina New York.  Both states have vast energy reserves, but New York prohibits development while Pennsylvania welcomes it.

From 2010 to 2017, natural gas production plummeted by nearly 70 percent in New York, but it soared almost 1,000 percent in Pennsylvania.  And New York won’t allow us to build a pipeline across because New York is sort of a long state and we can’t have pipelines going across, helping a region that’s not a wealthy region at all.  They have a lot of economic problems.  People are leaving, left and right.

We want to get it over to the waters.  We want to get it over to the oceans.  We want to get it up to New England, where they have the highest energy costs anywhere in the United States.  We can’t get energy because New York doesn’t allow the pipelines to go through.  And that’s going to be very costly for New York, ultimately.

As a result, families in Pennsylvania shale country got more jobs, billions of dollars in royalty payments, and wages that are significantly higher compared to their neighbors just across the state line.

Meanwhile, families in New York — I love New York; that’s where I’m from.  Probably, most of you don’t know that.  (Laughter.)  That’s where I’m from.  They’re burdened with more power outages and electricity rates — you never saw anything like this — that are much, much higher than neighboring states and than your state.  New York energy rates are through the roof.  New England, through the roof.  A lot of it has to do with the fact that we can’t get pipelines through New York.  New York won’t let us.  They won’t let us.

All New York likes to do is sue me.  They like to sue me.  (Laughter.)  They’re always suing.  I said, “Which lawyer is handling that case?”  No, they sue me for everything so they can try to stop us by any means possible.  The radical Left wants to do to America what they’ve done to New York: raise prices, kill jobs, and leave our nation less independent and far less secure.

My vision is the exact opposite.  And we want to work with New York and we want to help New York.  They need jobs in New York so badly.

You know, they talk about the environment.  So you have the state line, and over here you have machinery fracking.  And over here you have nothing, except poverty.  Over here you have people driving new cars and nice cars.  And over here you have cars that are 40 years old.  Now, what does that have to do with the environment?  It’s the same.  It’s an artificial line.

And I wonder what happens when they get down there.  What happens?  I just wonder, is New York losing its wealth?  You know what I’m talking about, right?  What happens when those lines go down and they can go in any direction now?  The equipment is so incredible.

So, hopefully, we can help New York.  I want to help New York so much.  We will never allow ourselves to be at the mercy of foreign energy suppliers.  And that’s what’s fighting us.  They don’t want us to have great energy.  They’ve made a fortune selling us energy.

You probably saw the Straits the other day.  Very few American boats are there.  They capture — Iran, I broke up that deal.  That was a good thing to do.  It’s a whole different country right now.  (Applause.)

But they’re capturing boats from other countries.  They’re not taking our boats.  And one of the things that was brought up by the media, actually — and wisely and correctly brought out — we have very few boats going there anymore because we have our own oil and gas.  We don’t need it from the Middle East anymore.  (Applause.)

And that’s why we’re pursuing a future not only of energy independence — but not just words.  You know, you’ve been hearing “energy independence” for years and years, and you’d hear it.  We have real independence.  But what we want now is not independence; we want American energy dominance.  Dominance.  (Applause.)

Instead of relying on foreign countries, we are now relying on American producers.  And we are relying on American workers to build our own future right here on American soil.  It’s time.  (Applause.)

And together, we’re defending the oil and gas workers who light up our cities and uplift our communities.  We’re fighting for the technicians and construction workers here in Beaver County who are building a powerful engine of American commerce.  There’s no place like what you’re seeing right outside these doors.  There is no place like it.

We’re here once again to stand up for the engineers and the factory workers who will shape the work of your hands into American-made products sold all over the world.  That’s what’s going to happen.  That’s what you’re producing.

And everyday patriots who make this all possible, you are the backbone of America.  The absolute backbone.  And you haven’t been given the honor of having that said by other people.  But you are the backbone of this country.  (Applause.)  It’s true.  So true.

You are the ones who work hard, pay your taxes, build your neighborhoods, obey our laws, safeguard our values, raise up your children, make this land the greatest nation ever to exist on the face of the Earth.  You are the ones who do it.  We work with a lot of people, but you are there and you are doing it.  You’ve always been loyal to America, and now you finally have a President of the United States who is loyal to you.  (Applause.)

Our vision is pro-worker, pro-jobs, pro-family, pro-growth, pro-energy, and 100 percent pro-American.  (Applause.)

And we’re taking care of our military, and we’re taking care of our vets.  Veterans Choice: You’ve been hearing it about for 45 years.  I got it approved.  Veterans Choice.  We’re taking care of our veterans.  We’re taking care of our military like never, ever before.  (Applause.)

Because Americans can do anything, go anywhere, and outperform anyone.  Nobody can beat us.  Nothing can stop us because winning is what Americans do.  Winning is what we know best.  We will keep winning, wining, winning.

And I used to tell you the story about winning.  I used to say that your great leaders would come to Washington and they would say, “President, we’re winning too much.  We can’t take it anymore.  The people of Pennsylvania cannot stand winning.  We haven’t won for years and years and now we’re winning too much.  Mr. President, please, for the good of the people of Pennsylvania, stop winning.  Stop creating all these jobs.  Stop creating all this product.  Please, sir.  Please, stop winning.”

And I said to them, and I will say to them, “We’re never going to stop winning because nobody has ever won like what’s happened over the last couple of years.  Nobody has ever won like you’re winning.”  I’ve more than fulfilled my promises.  Even they said, “He promised things, and he actually produced more than he promised.”  That’s true.  But we’re going to produce more and more.

I just want to thank everybody.  With your help, factory floors across this land are once more crackling with life.  (Applause.)  Our steel mills are fired up and blazing bright.  The assembly lines are roaring.  Industry is booming.  And the hearts of our workers, the American spirit, is soaring higher, stronger, freer, and greater than ever before.

I want to thank you all for giving this nation your very best.  And your very best cannot be beaten.  I want to thank you for filling America with pride.  We are proud of you.  We think you are just incredible, incredible people.  And it’s an honor for me to be with you in Pennsylvania.

Thank you very much.  God bless you.  (Applause.)  God bless you.

END

https://www.whitehouse.gov/briefings-statements/remarks-president-trump-american-energy-manufacturing-monaco-pa/

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The Pronk Pops Show 1292, July 18, 2019, Part 2 of 2 — Story 1: Google, YouTube, Facebook, Twitter, Big Tech Censorship of Conservative Content — Dennis Praeger Testifies Before U.S. Senate Committee — Videos — Story 2: House of Representatives Bipartisan Vote of 332 to 94 Not To Impeach President Trump — Videos –Story 3: President Trump Rally in North Carolina — New Politically Correct Chant — Send Them All Home — Open Border or Citizenship for Illegal Alien Democrats, Republicans and All Illegal Aliens — All 30 to 60 Million Illegal Aliens In The United States — Videos

Posted on July 20, 2019. Filed under: 2020 Democrat Candidates, 2020 President Candidates, 2020 Republican Candidates, Abortion, Addiction, Addiction, Addiction, American History, Applications, Banking System, Barack H. Obama, Bernie Sanders, Bill Clinton, Blogroll, Books, Breaking News, Bribery, Bribes, Budgetary Policy, Cartoons, Central Intelligence Agency, Clinton Obama Democrat Criminal Conspiracy, Coal, College, Computers, Congress, Constitutional Law, Corruption, Countries, Crime, Currencies, Deep State, Defense Spending, Donald J. Trump, Donald J. Trump, Donald Trump, Drugs, Eating, Economics, Education, Elections, Empires, Energy, European History, Federal Bureau of Investigation (FBI), Federal Bureau of Investigation (FBI) and Department of Justice (DOJ), Federal Government, First Amendment, Fiscal Policy, Former President Barack Obama, Freedom of Speech, Government, Government Dependency, Government Spending, Hardware, Hate Speech, Hillary Clinton, Hillary Clinton, Hillary Clinton, History, House of Representatives, Human, Human Behavior, Illegal Drugs, Illegal Immigration, Immigration, Impeachment, Independence, Islamic Republic of Iran, James Comey, Kamala Harris, Killing, Labor Economics, Law, Legal Drugs, Legal Immigration, Life, Liquid Natural Gas (LNG), Lying, Media, Medicare, Mental Illness, Mexico, Middle East, Military Spending, Monetary Policy, Movies, National Interest, National Security Agency, Natural Gas, Natural Gas, North Atlantic Treaty Organization (NATO), Nuclear Weapons, Oil, People, Pete Buttigieg, Philosophy, Photos, Politics, Polls, President Trump, Pro Abortion, Pro Life, Progressives, Public Corruption, Radio, Raymond Thomas Pronk, Resources, Robert S. Mueller III, Rule of Law, Scandals, Security, Senate, Servers, Social Security, Software, Somalia, Subornation of perjury, Surveillance/Spying, Tax Policy, Taxation, Taxes, Terror, Terrorism, Trade Policy, U.S. Dollar, United States Constitution, United States of America, Videos, Violence, Water, Wealth, Weather, Welfare Spending, Wisdom | Tags: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , |

 

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Story 1: Google, YouTube, Facebook, Twitter, Big Tech Censorship of Conservative Content — Dennis Praeger Testifies Before U.S. Senate Committee — Videos —

See the source imageSee the source imageSee the source image

Ted Cruz Grills Top Google Exec on Censorship of PragerU

Dennis Prager Testifies Before the U.S. Senate on Big Tech Censorship

Big Tech Is Big Brother

The Ten Commandments: What You Should Know

What Happens When Google Disagrees With You?

Who Are the Racists?

Illegal Immigration: It’s About Power

Sen. Cruz Slams Google’s Monopoly, Calls It ‘Unprecedented’

Sen. Cruz Questions Victims of Censorship on Google’s Bias

Sen. Cruz Grills Google Executive on Alleged Censorship Bias

Behind PragerU’s fight against alleged Google censorship

Carolla and Prager ask: What if we all stopped apologizing?

GOOGLE CLASSIFIES CONSERVATIVE CONTENT AS PORNOGRAPHY, CLAIMS FOX NEWS GUEST DENNIS PRAGER

The founder of Prager University, an unaccredited conservative media organization, appeared on Fox & Friends Tuesday claiming Google equates conservative video content to pornography.

Right-wing radio host Dennis Prager appeared on Fox News Tuesday morning just hours before he is set to accuse Google of political bias in testimony before members of Congress in Washington. Prager claims the Silicon Valley tech giants, but specifically Google, are gaming their algorithms against conservative content. He said dozens of PragerU’s 5-minute videos on topics ranging from Abraham Lincoln to the founding of Israel have been banned by the search giant and YouTube parent company as “pornography.” Prager claimed the group’s 300-plus videos get more than one billion views annually, but that about 60 of the wide variety of right-wing, historical videos are on Google’s “restricted” list.

“That means, if you block pornography you cannot see a discussion of Lincoln’s address at Gettysburg,” Prager told the Fox & Friends hosts Tuesday morning as an example of a topic in which he will testify. “It’s beyond belief.”

“Google classifies that as porno?” co-host Steve Doocy asked.

“Yes, yes, that is correct,” Prager said. “Why?” replied a stunned Ainsley Earhardt.

“Because we’re conservative,” Prager replied.

Prager University is not an accredited academic institution and offers no diplomas or certifications. It is, despite its name, a non-profit organization that creates frequently provocative political videos and advertisements from a conservative viewpoint.

Prager said a video describing how “human beings are even more precious than animals” was also placed on Google’s restricted list. “If you block pornography in your home you can’t see my video on why human life is precious. I’m not even talking about abortion, although that obviously should be allowed as well,” he said.

Another video featuring Fox News contributor Alan Dershowitz on the founding of Israel is also on the restricted list, Prager added.

The 70-year-old Prager discussed freedom of speech more broadly, saying he is old enough to remember when “liberals were defending real Nazis,” citing the Supreme Court ruling between the heavily Jewish Illinois village of Skokie and the National Socialist Party of America in the 1970s. Prager said the U.S. is currently engaged in a “non-violent civil war … between the left and the rest of the country.”

“Liberals and the left have almost nothing in common but liberals are cowed by the left and that’s the tragedy,” he noted.

Fox & Friends co-hosts Steve Doocy and Brian Kilmeade both predicted how they think this week’s Big Tech “conservative bias” hearings will go, with Kilmeade warning Prager they’re bringing out the “big guns” in terms of legal teams. Doocy predicted, “You know what they’re going to say: the algorithm.”

“That’s fine, then you have a terrible algorithm, I mean that is hilarious,” Prager replied. He then compared that defense to the driver of an automatic transmission vehicle running over children and blaming the car. “It’s an absurdity if they say it’s the algorithm, they created the algorithm let them reveal the algorithm to the public.”

dennis prager university google pornography
The founder of the conservative, unaccredited Prager University organization appeared on Fox & Friends Tuesday claiming Google equates conservative video content to pornography.SCREENSHOT: FOX NEWS

Ted Cruz Presses Executive on Why Google Disbanded Panel Rather Than Include Conservative Leader

vative Leader

Sen. Ted Cruz, R-Texas, wants Google to explain why it disbanded an advisory council after Google employees objected to including the president of The Heritage Foundation. Pictured: Cruz speaks Tuesday during his subcommittee hearing on Google and censorship. (Photo: Alex Wong/Getty Images)

Sen. Ted Cruz, R-Texas, called out a Google vice president Tuesday afternoon for the tech giant’s decision to dissolve an advisory council on artificial intelligence after inviting Heritage Foundation President Kay Coles James to join the panel.

Cruz asked Karan Bhatia, Google’s vice president of government affairs and public policy, about the worldwide internet company’s disbanding of the advisory council after Google employees objected to including the head of the leading conservative think tank.

“You worked at The Heritage Foundation, I believe you said,” Cruz told Bhatia during a hearing held by the Judiciary subcommittee on the Constitution. “Do you consider The Heritage Foundation to be some fringe organization?”

Bhatia replied that he considered Heritage to be a conservative organization.

The liberal Left continue to push their radical agenda against American values. The good news is there is a solution. Find out more >>

“So 2,500 Google employees signed a petition to have Ms. James removed from the council and they said, quote, ‘By appointing James to the ATEAC, Google elevates and endorses her views implying that hers is a valid perspective worthy of its inclusion in this decision making, this is unacceptable,’” Cruz said.

The formal name of Google’s short-lived panel was the Advanced Technology External Advisory Council.

The petition accused James of being “vocally anti-trans, anti-LGBTQ, and anti-immigrant,” and said, “In selecting James, Google is making clear that its version of ‘ethics’ values proximity to power over the wellbeing of trans people, other LGBTQ people, and immigrants.”

“Google, in response to this, dissolved the entire committee,” Cruz said to Bhatia. “Do you understand when you see that kind of bias, saying, ‘A conservative African-American woman’s views are not valid and not worthy of inclusion,’ that the American people would say, ‘These guys are silencing voices they disagree with’?”

James, who is black, overcame racial discrimination in Virginia as a girl and eventually became an educator and top state and federal government official before being named president of The Heritage Foundation, where she had been a trustee for more than a decade.

Bhatia told Cruz, chairman of the subcommittee, that the 2,500 employees who objected to James did not make up a large percentage of the Google workforce.

“Senator, the 2,500 amounts to something around 2% of the Google employees,” Bhatia said.

“But Google acted on their recommendation. You dissolved the committee,” Cruz replied.

>>> Commentary: Google Caves to the Intolerant Left, Betraying Its Own Ideals

Bhatia disagreed.

“No, Senator, we did not,” he said. “What happened in that situation is that it’s a committee that consisted of a number of members; as time progressed, a number of members of the committee other than Ms. James decided to fall off the committee, to withdraw from the committee.”

Cruz continued to press the issue.

“Is this your testimony, Mr. Bhatia? Because I’m finding this difficult to credit. Is it your testimony that Google did not dissolve the committee because your employees were mad that anyone right of center was included?”

The Google vice president answered Cruz by saying the company pulled the plug on the advisory council because executives didn’t see it going anywhere.

“We dissolved the committee, Senator. I think we were clear at the end of the day that it was not going to be viable to continue the council given what we were seeing happen with other members of the committee,” Bhatia said.

Heritage’s James discussed the experience in an April op-ed for The Washington Post, writing that “the Google employees didn’t just attempt to remove me; they greeted the news of my appointment to the council with name-calling and character assassination.”

“They called me anti-immigrant and anti-LGBTQ and a bigot. That was an odd one, because I’m a 69-year-old black woman who grew up fighting segregation,” James added.

Referring to Google’s decision to end the panel, James wrote, “The company has given in to the mentality of a rage mob.”

Ted Cruz Presses Executive on Why Google Disbanded Panel Rather Than Include Conservative Leader

2 Senators Call for Investigation Into Big Tech’s Censorship

Two of the country’s staunchest big tech critics are asking the Federal Trade Commission to investigate social media companies’ perceived censorship practices.

Facebook, Google, and Twitter exercise lots of influence on Americans and they also use their tools to censor some content while amplifying others, Sens. Ted Cruz of Texas and Josh Hawley of Missouri wrote in a letter Monday to the Federal Trade Commission. They are asking the agency to open a public probe into the impact such policies have on people.

dailycallerlogo“Companies that are this big and that have the potential to threaten democracy this much should not be allowed to curate content entirely without any transparency,” they wrote. “These companies can greatly influence democratic outcomes, yet they have not accountability to voters.”

They added: “They are not even accountable to their own customers because nobody knows how these companies curate content.” Cruz and Hawley are two of the biggest Republican critics of Google and Facebook, both of which are consistently accused of discriminating against conservative content.

The liberal Left continue to push their radical agenda against American values. The good news is there is a solution. Find out more >>

Hawley, for his part, introduced the Ending Support for Internet Censorship Act in June that aims to amend Section 230 of the Communications Decency Act, which gives online companies immunity only if they can show they are politically neutral. Section 230 was passed in 1996, when the internet was in its infancy.

Other Republicans are taking a more critical stance against big tech companies as well. Sen. Lindsey Graham of South Carolina, for one, is dinging Google for not doing enough to protect children.

“Things would change tomorrow if you could get sued,” Graham said during a congressional hearing on July 9 dealing with online dangers to kids. YouTube is under pressure to turn off its recommendation systems for videos featuring kids after reports showed potential predators were abusing the feature.

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