“The Human Race Could Go Extinct”: JPMorgan Fearmongers Climate Change Impact In Leaked Report

“The Human Race Could Go Extinct”: JPMorgan Fearmongers Climate Change Impact In Leaked Report

A new explosive report from JP Morgan was leaked out this week titled “Risky business: the climate and the macroeconomy” warns climate change poses a significant macroeconomic risk to the world economy and could result in a “catastrophic” event. 

“The response to climate change should be motivated not only by central estimates of outcomes but also by the likelihood of extreme events (from the tails of the probability distribution). We cannot rule out catastrophic outcomes where human life as we know it is threatened,” the report advised its top clients. 

JPM’s David Mackie and Jessica Murray, the authors of the report, said: “climate change would not only impact GDP and welfare directly but would also have indirect effects via morbidity, mortality, famine, water stress, conflict, and migration.”

They said the impact of climate had been underestimated by governments, adding:

“Something will have to change at some point if the human race is going to survive.”

A “global carbon tax should be introduced immediately” to curb climate change and prevent an epic meltdown of the global economy, the economists warned. 

JPM has so far been reserved in their language about climate change. Still, the new report offers some insight into fearmongering by the investment bank of how global warming could crash the economy, and how a carte blanch approach is needed to solve the crisis. 

The so-called climate crisis is a guise for the introduction of green bonds, unlimited fiscal deficits, and MMT, a move that would be orchestrated by central banks, governments, and financial elites to fire up the printing presses once more.

Financial elites have already crafted a narrative for the average bloke, that governments need to fight climate change immediately through spending vast amounts of money for a green transformation of the economy, or risk economic implosion and loss of life.

So the illusionary emergency of climate change is nothing more than fearmongering by financial elites who understand that after decades of money printing via central banks risks a global reset in financial assets, and the only way to solve this upcoming crisis is to create another crisis, called the climate change crisis, to trick everyone into believing more money printing is needed to save the world from rising temperatures (but really more money printing shore up financial assets in hopes the everything bubble doesn’t implode in the next recession).

The reason for this elaborate scheme is that after the 2008 financial crisis, where financial elites were bailed out and the middle class was left to rot, convincing the average person that money printing is needed once more would be a difficult task.  

So again, financial elites created a fake climate change crisis to offer a policy prescription of money printing to protect their asset bubbles, but simultaneously, make everyone believe that it’s to transform the global economy into a much greener trajectory to save the planet.

And if you care to read JPM’s leaked report, here it is: 


Tyler Durden

Fri, 02/21/2020 – 21:45

Escobar: No Weapon Left Behind – The American Hybrid War On China

Escobar: No Weapon Left Behind – The American Hybrid War On China

Authored by Pepe Escobar via The Strategic Culture Foundation,

The New Silk Roads – or Belt and Road Initiative (BRI) – were launched by President Xi Jinping in 2013, first in Central Asia (Nur-Sultan) and then Southeast Asia (Jakarta).

One year later, the Chinese economy overtook the U.S. on a PPP basis. Inexorably, year after year since the start of the millennium, the U.S. share of the global economy shrinks while China’s increases.

China is already the key hub of the global economy and the leading trade partner of nearly 130 nations.

While the U.S. economy is hollowed out, and the casino financing of the U.S. government – repo markets and all – reads as a dystopian nightmare, the civilization-state steps ahead in myriad areas of technological research, not least because of Made in China 2025.

China largely beats the U.S. on patent filings and produces at least 8 times as many STEM graduates a year than the U.S., earning the status of top contributor to global science.

A vast array of nations across the Global South signed on to be part of BRI, which is planned for completion in 2049. Last year alone, Chinese companies signed contracts worth up to $128 billion in large-scale infrastructure projects in dozen of nations.

The only economic competitor to the U.S. is busy reconnecting most of the world to a 21st century, fully networked version of a trade system that was at its peak for over a millennia: the Eurasian Silk Roads.

Inevitably this state of things is something interlocking sectors of the U.S. ruling class simply would not accept.

Branding BRI as a “pandemic”

As the usual suspects fret over the “stability” of the Chinese Communist Party (CCP) and the Xi Jinping administration, the fact is the Beijing leadership has had to deal with an accumulation of extremely severe issues: a swine-flu epidemic killing half the stock; the Trump-concocted trade war; Huawei accused of racketeering and about to be prevented from buying U.S. made chips; bird flu; coronavirus virtually shutting down half of China.

Add to it the incessant United States government Hybrid War propaganda barrage, trespassed by acute Sinophobia; everyone from sociopathic “officials” to self-titled councilors are either advising corporate businesses to divert global supply chains out of China or concocting outright calls for regime change – with every possible demonization in between.

There are no holds barred in the all-out offensive to kick the Chinese government while it’s down.

A Pentagon cipher at the Munich Security Conference once again declares China as the greatest threat, economically and militarily, to the U.S. – and by extension the West, forcing a wobbly EU already subordinated to NATO to be subservient to Washington on this remixed Cold War 2.0.

The whole U.S. corporate media complex repeats to exhaustion that Beijing is “lying” and losing control. Descending to sub-gutter, racist levels, hacks even accuse BRI itself of being a pandemic, with China “impossible to quarantine”.

All that is quite rich, to say the least, oozing from lavishly rewarded slaves of an unscrupulous, monopolistic, extractive, destructive, depraved, lawless oligarchy which uses debt offensively to boost their unlimited wealth and power while the lowly U.S. and global masses use debt defensively to barely survive. As Thomas Piketty has conclusively shown, inequality always relies on ideology.

We’re deep into a vicious intel war. From the point of view of Chinese intelligence, the current toxic cocktail simply cannot be attributed to just a random series of coincidences. Beijing has serial motives to piece this extraordinary chain of events as part of a coordinated Hybrid War, Full Spectrum Dominance attack on China.

Enter the Dragon Killer working hypothesis: a bio-weapon attack capable of causing immense economic damage but protected by plausible deniability. The only possible move by the “indispensable nation” on the New Great Game chessboard, considering that the U.S. cannot win a conventional war on China, and cannot win a nuclear war on China.

A biological warfare weapon?

On the surface, coronavirus is a dream bio-weapon for those fixated on wreaking havoc across China and praying for regime change.

Yet it’s complicated. This report is a decent effort trying to track the origins of coronavirus. Now compare it with the insights by Dr. Francis Boyle, international law professor at the University of Illinois and author, among others, of Biowarfare and Terrorism. He’s the man who drafted the U.S. Biological Weapons Anti-Terrorism Act of 1989 signed into law by George H. W. Bush.

Dr. Boyle is convinced coronavirus is an “offensive biological warfare weapon” that leaped out of the Wuhan BSL-4 laboratory, although he’s “not saying it was done deliberately.”

Dr. Boyle adds, “all these BSL-4 labs by United States, Europe, Russia, China, Israel are all there to research, develop, test biological warfare agents. There’s really no legitimate scientific reason to have BSL-4 labs.” His own research led to a whopping $100 billion, by 2015, spent by the United States government on bio-warfare research: “We have well over 13,000 alleged life science scientists… testing biological weapons here in the United States. Actually this goes back and it even precedes 9/11.”

Dr. Boyle directly accuses “the Chinese government under Xi and his comrades” of a cover up “from the get-go. The first reported case was December 1, so they’d been sitting on this until they couldn’t anymore. And everything they’re telling you is a lie. It’s propaganda.”

The World Health Organization (WHO), for Dr. Boyle, is also on it: “They’ve approved many of these BSL-4 labs (…) Can’t trust anything the WHO says because they’re all bought and paid for by Big Pharma and they work in cahoots with the CDC, which is the United States government, they work in cahoots with Fort Detrick.” Fort Detrick, now a cutting-edge bio-warfare lab, previously was a notorious CIA den of mind control “experiments”.

Relying on decades of research in bio-warfare, the U.S. Deep State is totally familiar with all bio-weapon overtones. From Dresden, Hiroshima and Nagasaki to Korea, Vietnam and Fallujah, the historical record shows the United States government does not blink when it comes to unleashing weapons of mass destruction on innocent civilians.

For its part, the Pentagon’s Defense Advanced Research Project Agency (DARPA) has spent a fortune researching bats, coronaviruses and gene-editing bio-weapons. Now, conveniently – as if this was a form of divine intervention – DARPA’s “strategic allies” have been chosen to develop a genetic vaccine.

The 1996 neocon Bible, the Project for a New American Century (PNAC), unambiguously stated, “advanced forms of biological warfare that can “target” specific genotypes may transform biological warfare from the realm of terror to a politically useful tool.”

There’s no question coronavirus, so far, has been a Heaven-sent politically useful tool, reaching, with minimum investment, the desired targets of maximized U.S. global power – even if fleetingly, enhanced by a non-stop propaganda offensive – and China relatively isolated with its economy semi paralyzed.

Yet perspective is in order. The CDC estimated that up to 42.9 million people got sick during the 2018-2019 flu season in the U.S. No less than 647,000 people were hospitalized. And 61,200 died.

This report details the Chinese “people’s war” against coronavirus.

It’s up to Chinese virologists to decode its arguably synthetic origin. How China reacts, depending on the findings, will have earth-shattering consequences – literally.

Setting the stage for the Raging Twenties

After managing to reroute trade supply chains across Eurasia to its own advantage and hollow out the Heartland, American – and subordinated Western – elites are now staring into a void. And the void is staring back. A “West” ruled by the U.S. is now faced with irrelevance. BRI is in the process of reversing at least two centuries of Western dominance.

There’s no way the West and especially the “system leader” U.S. will allow it. It all started with dirty ops stirring trouble across the periphery of Eurasia – from Ukraine to Syria to Myanmar.

Now it’s when the going really gets tough. The targeted assassination of Maj. Gen. Soleimani plus coronavirus – the Wuhan flu – have really set up the stage for the Raging Twenties. The designation of choice should actually be WARS – Wuhan Acute Respiratory Syndrome. That would instantly give the game away as a War against Humanity – irrespective of where it came from.


Tyler Durden

Fri, 02/21/2020 – 21:25

“Ilhan Omar Did Marry Her Brother”, Explosive New Report Confirms

“Ilhan Omar Did Marry Her Brother”, Explosive New Report Confirms

The question of whether or not congresswoman Ilhan Omar (yes, the same Ilhan Omar who is constantly bickering about President Trump breaking the law) married her own brother to skirt immigration laws appears to now finally have an answer: yes.

In fact, Omar told friends “years ago” that the man who went on to become her second husband was, in fact, her brother, according to the Daily Mail. One of those friends has now come forward to reveal how Omar and Ahmed Elmi “scandalized the Somali community in Minneapolis.”

That friend, Abdihakim Osman, has claimed that Omar said she wanted to get her brother papers so he could stay in the U.S. at the same time she was married to her first husband, Ahmed Hirsi. 

Omar and Hirsi

“No one knew there had been a wedding until the media turned up the marriage certificate years later,” Osman told the Daily Mail. 

Omar had first been married to Hirsi in 2002 in a private ceremony that was not registered with the state. They had two children. In the late 2000s, however, Elmi began turning up in Minneapolis. 

Osman said: “People began noticing that Ilhan and Hirsi were often with a very effeminate young guy.”

He continued: “He was very feminine in the way he dressed — he would wear light lipstick and pink clothes and very, very, short shorts in the summer. People started whispering about him. ‘[Hirsi] and Ilhan both told me it was Ilhan’s brother and he had been living in London but he was mixing with what were seen as bad influences that the family did not like. So they sent him to Minneapolis as ‘rehab’.”

Elmi, on the right

Osman also said: “When [Hirsi] and Ilhan got married, a lot of people were invited. It was a big Islamic wedding uniting two large clans in the Minneapolis community. I would say there were 100-150 people there. When she married Elmi, no one even knew about it.”

Elmi and Omar married on February 12, 2009 at a Hennepin County office in Eden Prairie, Minnesota. Omar claims she separated with Hirsi in 2008, but because the marriage was “under the table”, so was the alleged separation. Osman claims that while Omar and Elmi moved to Fargo after their marriage, that Omar and Hirsi were still together as husband and wife.

Osman continued: “She said she needed to get papers for her brother to go to school. We all thought she was just getting papers together to allow him to stay in this country. Once she had the papers they could apply for student loans. They both moved to North Dakota to go to school but she was still married to [Hirsi]. In the Somali way, the only marriage that mattered was the one in the mosque.”

The lack of paperwork in Somalia has made it difficult to confirm the link as to whether or not Elmi and Omar are truly related. 

Omar and Elmi divorced in 2017 before Omar re-married Hirsi, before having her third child with him. Osman “scoffed” at the idea of Omar’s marriage to Elmi being real. Omar then went on to have an affair with her chief fundraiser, Tim Mynett, a married father of one whose company receive more than half a million dollars from Omar’s campaign last year. 

Omar’s spokeswoman refused comment to the Daily Mail. Instead, he said: “The Congresswoman is focused on the work her constituents sent her to Washington to accomplish.”

The New York Post said last month that the FBI was investigating the marriage and had met with a source in Minneapolis who handed over a trove of documents related to the marriage. The penalty for marriage fraud is up to five years in jail and a fine of up to $250,000. 

Hopefully, the new revelations make it clear enough for a formal investigation into Omar to be opened, as she has repeatedly refused to answer questions relating to her marriage. She originally called the allegations “baseless, absurd rumors” and accused journalists of Islamophobia.

Because, when in doubt, play the victim, right?

 


Tyler Durden

Fri, 02/21/2020 – 21:05

China’s Debts Are Coming Due At The Worst Possible Time

China’s Debts Are Coming Due At The Worst Possible Time

Authored by MN Gordon via EconomicPrism.com,

The economic consequences of coronavirus are quickly piling up like garbage along the streets of Los Angeles.  Breaking supply chains, closed Chinese factories, iPhone disruptions, and massive shortages of Chinese made products.  These developments will most definitely get worse before they get better.

The economic impacts will be devastating.  As China flatlines, and first quarter GDP growth approaches zero, the global economy, including the U.S., will also be greatly disrupted.  Perhaps many low-cost, Made in China products will go on indefinite hiatus.  What then?

Quite frankly, the global economy’s overdue for a synchronized downturn.  Coronavirus may mark the turning point.  But it would have arrived sooner or later, with or without the threat of a burgeoning pandemic.

Still, the prospect of a great plague makes people all the more excitable.  A run-of-the-mill recession and bear market is one thing.  But add the rapid spread of a hyper contagious virus to the mix, and the human animal is inclined to go mad in unison.

In the meantime, and despite yesterday’s moderate selloff, the major U.S. stock market indexes are near record highs.  The expectation of ever more Fed intervention has pacified investors.  But that’s not all…

The yield on the 10-Year Treasury note has slid down to 1.50 percent; near the lower limit of the federal funds rate, which is currently between 1.5 and 1.75 percent.  In other words, the Fed’s next policy move has already been decided by Treasury investors.  Similarly, gold investors, which have pushed the price of gold above $1,620 per ounce, have also preempted the Fed.

But what’s really going on?  Moreover, should you panic, yet?

Should You Panic, Yet?

The answer, no doubt, depends on whether you’re a borrower or a lender.  By this, some context is in order…

Assuming a financial agreement is made in good faith, both parties stand to benefit.  The lender, having loaned money to a creditworthy borrower, can count on steady coupon payments.  At the same time, the borrower can put the money to a resourceful undertaking; ideally, something that produces a return that’s greater than the loan.

However, when the borrower doesn’t live up to their terms of the agreement things quickly get ugly.  The borrower may seek relief through bankruptcy court.  The lender may take possession of collateral.  Each case is different.

Still, when an economy is growing and loans are generally performing, the occasional bad loan can easily be absorbed.  But the longer an economy’s growth run extends, the more complacent lenders become.  Debts pile up higher and higher.  At the same time, the perception of risk diminishes.

By the top end of the credit cycle, capacity has far outpaced demand.  Businesses and individuals have overextended themselves with the expectation that continued growth will mask their mistakes.  The boom then always ends at the worst possible time.

At the peak, the financial system has become highly unstable.  Any triggering event will serve to topple it.

“Neither a borrower nor a lender be,” counseled Polonius in Shakespeare’s Hamlet.  If we had to choose, most of the time it’s preferable to be a lender.  But not always.  For example, after a massive and broad reaching credit binge, borrowers and lenders are both equally screwed…

China’s Debts are Coming Due at the Worst Possible Time

Booms and busts fueled by cheap credit are incredibly destructive.  What’s more, they’re exacerbated by central bank efforts to smooth out the business cycle.  Rather than rounding the peaks and tapering the bottoms, stimulative fiscal and monetary policy has the unfavorable effect of magnifying them.

Coincidence.  Fate.  Serendipity.  Providence.  Destiny.  Karma.  Fortuity.  Kismet.  Or just plain chance.  There is something both eerie and poetic about the genesis of the coronavirus outbreak being China…and at this precise moment in time.

One of the more reckless examples of destructive stimulus over the last decade is China’s mass concrete binge.  Pumping credit to stimulate construction in China has had the ill-effect of compelling the country to do something extraordinarily incredible.  In short, they’ve mixed up massive amounts of concrete and splattered it across the landscape.

Specifically, China’s economy used 6.6 gigatons of cement between 2011 and 2014.  What a gigaton is we don’t really know.  But we assume it is something unfathomable heavy.  To put this in perspective, the U.S. used 4.5 gigatons of cement over the last 100 years.

What in the world compelled an entire nation to behave like utter blockheads?  Unsurprisingly, misguided stimulus policies pushed everyone beyond the absurd.  This mass malinvestment and overbuilt capacity may never realign with the real economy.

Over the last decade, China has borrowed massive amounts of money to finance one of the biggest infrastructure binges in history.  Roads, bridges, airports, and entire ghost cities were constructed.  The boom was spectacular.  It was also an epic disaster in the making.  Because the debt’s coming due at the worst possible time:

“More than 2 trillion yuan ($283 billion) of local-government notes will mature in 2020, according to Bloomberg-compiled data — a record and 58 percent more than [2019] level.”

How will local governments pay their debts when their economy’s on coronavirus lockdown?  Alas, for borrowers and lenders alike, they won’t.


Tyler Durden

Fri, 02/21/2020 – 20:45

Twitter Tool Could See ‘Verified’ Users Given Power To Label “Lies” & “Harmful” Tweets

Twitter Tool Could See ‘Verified’ Users Given Power To Label “Lies” & “Harmful” Tweets

Twitter is preparing to roll out more ways it intends to censor and “label” speech. The company is also experimenting with giving only blue checkmark “verified” fact-checkers and journalists the power to identify “lies” and label and edit accordingly. What could possibly go wrong? 

“Twitter is experimenting with adding brightly colored labels directly beneath lies and misinformation posted by politicians and other public figures, according to a leaked demo of new features” obtained by NBC, which first broke the story Thursday. 

Twitter CEO and co-founder Jack Dorsey. Image via AFP

“We’re exploring a number of ways to address misinformation and provide more context for tweets on Twitter,” a Twitter spokesperson said. “Misinformation is a critical issue and we will be testing many different ways to address it.”

Get ready for a potential new Twitter where essentially all utterances and perspectives on controversial events and data will have to pass through blue checkmark gatekeepers

This is an astounding and Orwellian section from the NBC report

In this version, disinformation or misleading information posted by public figures would be corrected directly beneath a tweet by fact-checkers and journalists who are verified on the platform and possibly by other users who would participate in a new “community reports” feature, which the demo claims is “like Wikipedia.”

Here’s what it might look like when a politician tweets “harmfully misleading” content after March 5th. Big red/orange flag underneath the offending tweet.

These are screenshots from that were left on a public testing site. Twitter confirmed they’re possible iterations. pic.twitter.com/EH61YDGjOg

— Ben Collins (@oneunderscore__) February 20, 2020

Tweets marked as ‘disinformation’ could then be reduced in visibility on the platform. 

The company said it is only in the early stages of research and work with the demo, and there’s as yet no confirmation of exactly what will be included in the new roll out, expected on March 5th.

An image capture of the leaked demo which illustrates how it works, via NBC. Verified community members can flag tweets by public figures or other accounts as “Harmfully Misleading”

Perhaps even more disturbing is that one experimental version of the feature sets up moderating and labeling false information as if it’s a competition among accepted “community members”. 

The “harmfully misleading” tag wouldn’t just be for politicians. It’d be for climate change denial and health misinformation, too, at least according to this test.https://t.co/Yhyv45WFjG pic.twitter.com/GwbgIojK27

— Ben Collins (@oneunderscore__) February 20, 2020

The NBC report explains

In one iteration of the demo, Twitter users could earn “points” and a “community badge” if they “contribute in good faith and act like a good neighbor” and “provide critical context to help people understand information they see.”

Supposedly this is to prevent trolls or “ideologues” from inundating the platform as moderators. 

Twitter, Facebook and other social media giants have been under increased pressure to curtail misleading political information, but no doubt as the above demonstrates the “solution” will only result in severe censorship and a purge of ‘unacceptable opinions’ by establishment gatekeepers — something Twitter has certainly already long been engaged in, as we’ve recently experienced. 

Groupthink will now be programmed permanently into the platform’s architecture. 


Tyler Durden

Fri, 02/21/2020 – 20:25

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