Ex-CIA Officer Charged With Spying For China; Disclosed “Substantial Amount Of Highly Classified” Info

Ex-CIA Officer Charged With Spying For China; Disclosed “Substantial Amount Of Highly Classified” Info

Tyler Durden

Mon, 08/17/2020 – 15:54

The DOJ has charged a 15-year veteran of the CIA with selling US secrets to China – after he accidentally revealed his spying to the FBI, according to NBC News – which notes that “The method prosecutors said they used to get him to reveal the nature of his espionage was worthy of a spy novel itself.”

Court documents said 67-year-old Alexander Yuk Ching Ma of Honolulu was charged with violating U.S. espionage laws. Prosecutors said he joined the CIA in 1967 then served as a CIA officer until he retired from the agency in 1989. For part of that time he was assigned to work overseas in the East-Asia and Pacific region.

Twelve years after he retired, prosecutors said Monday that Ma met with at least five officers of China’s Ministry of State Security in a Hong Kong hotel room, where he “disclosed a substantial amount of highly classified national defense information,” including facts about the CIA’s internal organization, methods for communicating covertly, and the identities of CIA officers and human assets. –NBC News

Following his departure from the agency, Ma became a Chinese linguist in the FBI’s Honolulu field office, where he allegedly used his access to highly classified information to copy or photograph sensitive documents concerning the United States’ guided missile and weapons systems, as well as other sensitive information he passed along to his Chinese handlers, according to the charging document.

Ma was caught after the FBI arranged a meeting with an undercover officer claiming to be from a CCP operative investigating “how Ma had been treated, including the amount he had been compensated” by the Chinese government.

The allegedly traitorous spook was captured on video counting $2,000 in cash given to him by the operative, who told Ma that it was to acknowledge his efforts for Beiing.

Ma, a Hong Kong native, said on tape that he “wanted ‘the motherland’ to succeed,’ and admitted to providing classified information to China’s Ministry of State Security.”

We wonder if he knew Dianne Feinstein’s spy of 20 years?

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Fox’s Chris Wallace Asks, What If Trump “Really Has A Point Here” Over Mail-In Voter Fraud?

Fox’s Chris Wallace Asks, What If Trump “Really Has A Point Here” Over Mail-In Voter Fraud?

Tyler Durden

Mon, 08/17/2020 – 15:45

Fox News anchor Chris Wallace – no fan of Donald Trump, asked a panel of guests about the possibility that the president “may have a point” about widespread fraud due to mail-in voting.

“I know the Democrats say that President Trump is trying to block mail-in voting and trying to block billions of dollars more for the postal service in order to suppress voting in this election, but hear me out for a minute, isn’t it possible that the president really has a point here?” Wallace asked former DNC communications director Mo Elleithee during “Fox News Sunday,” per the Daily Caller.

“As I mentioned earlier, there were 33 million either absentee or mail-in ballots in 2016. If we have to double that or triple that, isn’t there a pretty good chance that we will have a mess at the least, and yes, possibly fraud?” Wallace added.

After appearing stunned for a split second, Elleithee responded: “Look, I think it is certainly likely that there would be challenges if the president continues to kneecap the Postal Service,” adding that states “have robust mail-in voting operations.”

Watch:

“When there are hiccups, the system typically catches it, as we’ve seen in a couple of the cases that have been in the news lately,” Elleithee said. “So there is a system in place of checks and balances against widespread fraud or any kind of fraud.”

If Trump continues to “go after the Postal Service,” he continued, it could lead to “the risk of a huge mess.”

“This can be fixed with more support now… It’s also terrible political strategy in that I don’t understand why he would be trying to defund the Postal Service and hurting the very voters that he relies on who receive checks, who received medications in the mail. I just do not get the politics.”

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Donald Trump and Ben Carson Go Full NIMBY in The Wall Street Journal

reason-trumpcarson

Few political transformations have been more remarkable to witness than Ben Carson’s constant ping-ponging on housing policy. The Housing and Urban Development (HUD) secretary can’t seem to make up his mind about whether loosening restrictions on new housing development is a great idea the federal government should encourage or a left-wing plot to destroy the American Dream.

On Sunday, The Wall Street Journal published a joint op-ed by Carson and President Donald Trump in which the two warned that eliminating single-family zoning would import urban dysfunction into thriving suburban communities.

“A once-unthinkable agenda, a relentless push for more high-density housing in single-family residential neighborhoods, has become the mainstream goal of the left,” the article says. “We will save our cities, from which these terrible policies have come, and we will save our suburbs.”

They go on to criticize the elimination of single-family zoning in Minneapolis and Oregon, as well as heretofore unsuccessful efforts by California state Sen. Scott Wiener (D–San Francisco) to preempt local zoning regulations to allow five-story apartments near job centers and transit lines.

The op-ed represents a marked change from the views expressed by Carson in 2018, when he told the Journal that he intended to update federal fair housing rules to encourage the same kind of high-density construction he’s now criticizing.

“I want to encourage the development of mixed-income multifamily dwellings all over the place,” Carson said then, saying that he would “incentivize people who really would like to get a nice juicy government grant” to reform their zoning codes.

Sunday’s op-ed brings Carson’s housing views back to where they were in 2015, when the then–presidential candidate was criticizing an Obama-era fair housing rule for stepping on the toes of local communities’ zoning powers.

“The rule would fundamentally change the nature of some communities from primarily single-family to largely apartment-based areas by encouraging municipalities to strike down housing ordinances that have no overtly (or even intended) discriminatory purpose—including race-neutral zoning restrictions on lot sizes and limits on multi-unit dwellings, all in the name of promoting diversity,” wrote Carson in The Washington Times, comparing such changes to failed socialist experiments.

To quote Homer Simpson: “Some people never change. Or, they quickly change and then quickly change back.”

Carson’s constantly shifting stripes on housing policy represent a broader schizophrenia within the Trump administration. Its efforts to encourage the rollback of predominately local regulations on housing development have given way to toxic culture-war rhetoric about saving the suburbs.

A good marker of the administration’s changing tune is its update of the Obama administration’s 2015 Affirmatively Furthering Fair Housing (AFFH) rule.

That rule—which required jurisdictions receiving federal housing grants to report on obstacles to fair housing and then propose remedies for eliminating those obstacles—has long been a target of conservative criticism for being overly burdensome, overly perspective, and ultimately ineffective. It’s what Carson was criticizing as a threat to single-family zoning in his 2015 Washington Times op-ed.

His 2018 interview in The Wall Street Journal, by contrast, was about wanting to change the AFFH rule so its reporting requirements did a better job of spotlighting how single-family zoning worsened affordability.

In January 2020, the Trump administration issued a proposed replacement AFFH rule that aimed to do just that. It asked HUD grantees to report on a few narrow measures of housing affordability and housing quality, and then propose three policies for improving those metrics. The January rule also held out the possibility that jurisdictions who saw their affordability metrics improve would be rewarded with additional grant money.

This wasn’t a full-fledged free market approach—the government was still attaching strings to grant programs that probably shouldn’t exist in the first place. Still, it at least had the potential to encourage localities to adopt their own market reforms.

But in July, when the Trump administration released a final AFFH replacement rule, it explicitly criticized the January proposal as federal overreach and instead promised to preserve local government control above all else. Meanwhile, the federal grants will continue to flow.

The new Trump-Carson op-ed touts the July rule as an example of Trump’s commitment to safeguarding the suburbs.

As other commenters have pointed out, it’s clear that Trump has become convinced that casting himself as a defender of suburban America, à la Nixon 1968, is the path to electoral success. The new op-ed should be read in that light.

This change in rhetoric and tune is not only disappointing on policy grounds; it’s probably strategically mistaken. By abandoning the fight against restrictive zoning laws, Trump and Carson are forfeiting their ability to call out the progressive hypocrisy on housing policy. By maintaining restrictions on new housing construction, many liberal urban areas and their suburban satellites perpetuate the economic inequality and racial segregation that their politicians decry.

Instead of calling this out, Trump and Carson are defending the development regulations of deep-blue suburbs whose residents hate the idea of another four years of Trump in the White House almost as much as they hate the prospects of another four units of housing in their neighborhood.

Carson and Trump are not wrong when they write that “decades of liberal governance have tragically made many urban cities unaffordable.” A major reason for some liberal cities’ high housing costs is their hostility to new development.

Likewise, when the two say they “believe the suburbs offer a wonderful life for Americans of all races and backgrounds when they are allowed to grow organically, from the bottom up,” that would seem to forestall support for regulations that require suburban communities to forever remain exclusively single-family neighborhoods.

It is true that the federal government shouldn’t be dictating local land-use decisions. Reforming the zoning codes that drive up the price of housing and drive out working- and middle-class residents is something that state and local governments will ultimately have to tackle. A good way to reduce the federal role in local housing policy would be to eliminate the housing and transportation grant programs that give the feds leverage over local regulations.

But rather than push the idea of spending cuts, Carson and Trump are arguing that the federal government should continue to provide funding to local communities without any consideration for how they spend that money, or for whether local regulations conflict with the purposes of those federal grant programs. In doing so, they are embracing harmful housing regulations.

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Donald Trump and Ben Carson Go Full NIMBY in The Wall Street Journal

reason-trumpcarson

Few political transformations have been more remarkable to witness than Ben Carson’s constant ping-ponging on housing policy. The Housing and Urban Development (HUD) secretary can’t seem to make up his mind about whether loosening restrictions on new housing development is a great idea the federal government should encourage or a left-wing plot to destroy the American Dream.

On Sunday, The Wall Street Journal published a joint op-ed by Carson and President Donald Trump in which the two warned that eliminating single-family zoning would import urban dysfunction into thriving suburban communities.

“A once-unthinkable agenda, a relentless push for more high-density housing in single-family residential neighborhoods, has become the mainstream goal of the left,” the article says. “We will save our cities, from which these terrible policies have come, and we will save our suburbs.”

They go on to criticize the elimination of single-family zoning in Minneapolis and Oregon, as well as heretofore unsuccessful efforts by California state Sen. Scott Wiener (D–San Francisco) to preempt local zoning regulations to allow five-story apartments near job centers and transit lines.

The op-ed represents a marked change from the views expressed by Carson in 2018, when he told the Journal that he intended to update federal fair housing rules to encourage the same kind of high-density construction he’s now criticizing.

“I want to encourage the development of mixed-income multifamily dwellings all over the place,” Carson said then, saying that he would “incentivize people who really would like to get a nice juicy government grant” to reform their zoning codes.

Sunday’s op-ed brings Carson’s housing views back to where they were in 2015, when the then–presidential candidate was criticizing an Obama-era fair housing rule for stepping on the toes of local communities’ zoning powers.

“The rule would fundamentally change the nature of some communities from primarily single-family to largely apartment-based areas by encouraging municipalities to strike down housing ordinances that have no overtly (or even intended) discriminatory purpose—including race-neutral zoning restrictions on lot sizes and limits on multi-unit dwellings, all in the name of promoting diversity,” wrote Carson in The Washington Times, comparing such changes to failed socialist experiments.

To quote Homer Simpson: “Some people never change. Or, they quickly change and then quickly change back.”

Carson’s constantly shifting stripes on housing policy represent a broader schizophrenia within the Trump administration. Its efforts to encourage the rollback of predominately local regulations on housing development have given way to toxic culture-war rhetoric about saving the suburbs.

A good marker of the administration’s changing tune is its update of the Obama administration’s 2015 Affirmatively Furthering Fair Housing (AFFH) rule.

That rule—which required jurisdictions receiving federal housing grants to report on obstacles to fair housing and then propose remedies for eliminating those obstacles—has long been a target of conservative criticism for being overly burdensome, overly perspective, and ultimately ineffective. It’s what Carson was criticizing as a threat to single-family zoning in his 2015 Washington Times op-ed.

His 2018 interview in The Wall Street Journal, by contrast, was about wanting to change the AFFH rule so its reporting requirements did a better job of spotlighting how single-family zoning worsened affordability.

In January 2020, the Trump administration issued a proposed replacement AFFH rule that aimed to do just that. It asked HUD grantees to report on a few narrow measures of housing affordability and housing quality, and then propose three policies for improving those metrics. The January rule also held out the possibility that jurisdictions who saw their affordability metrics improve would be rewarded with additional grant money.

This wasn’t a full-fledged free market approach—the government was still attaching strings to grant programs that probably shouldn’t exist in the first place. Still, it at least had the potential to encourage localities to adopt their own market reforms.

But in July, when the Trump administration released a final AFFH replacement rule, it explicitly criticized the January proposal as federal overreach and instead promised to preserve local government control above all else. Meanwhile, the federal grants will continue to flow.

The new Trump-Carson op-ed touts the July rule as an example of Trump’s commitment to safeguarding the suburbs.

As other commenters have pointed out, it’s clear that Trump has become convinced that casting himself as a defender of suburban America, à la Nixon 1968, is the path to electoral success. The new op-ed should be read in that light.

This change in rhetoric and tune is not only disappointing on policy grounds; it’s probably strategically mistaken. By abandoning the fight against restrictive zoning laws, Trump and Carson are forfeiting their ability to call out the progressive hypocrisy on housing policy. By maintaining restrictions on new housing construction, many liberal urban areas and their suburban satellites perpetuate the economic inequality and racial segregation that their politicians decry.

Instead of calling this out, Trump and Carson are defending the development regulations of deep-blue suburbs whose residents hate the idea of another four years of Trump in the White House almost as much as they hate the prospects of another four units of housing in their neighborhood.

Carson and Trump are not wrong when they write that “decades of liberal governance have tragically made many urban cities unaffordable.” A major reason for some liberal cities’ high housing costs is their hostility to new development.

Likewise, when the two say they “believe the suburbs offer a wonderful life for Americans of all races and backgrounds when they are allowed to grow organically, from the bottom up,” that would seem to forestall support for regulations that require suburban communities to forever remain exclusively single-family neighborhoods.

It is true that the federal government shouldn’t be dictating local land-use decisions. Reforming the zoning codes that drive up the price of housing and drive out working- and middle-class residents is something that state and local governments will ultimately have to tackle. A good way to reduce the federal role in local housing policy would be to eliminate the housing and transportation grant programs that give the feds leverage over local regulations.

But rather than push the idea of spending cuts, Carson and Trump are arguing that the federal government should continue to provide funding to local communities without any consideration for how they spend that money, or for whether local regulations conflict with the purposes of those federal grant programs. In doing so, they are embracing harmful housing regulations.

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Susan Rice Tries To Turn Possible Snowden Pardon Into Attack on GOP

susanrice_1161x653

President Donald Trump recently floated the possibility of a pardon for whistleblower Edward Snowden, who famously informed the public that the National Security Agency (NSA) was secretly collecting and storing millions of Americans’ private phone and online records.

The proposition sort of came out of nowhere—it was a response to a reporter’s question—and is probably basically a reflection of Trump’s willingness to make any idea a trial balloon, plus his now-permanent animosity toward America’s federal intelligence agencies for investigating his campaign. Before Trump became president, he repeatedly called Snowden a traitor and even demanded his execution.

If Trump did, in fact, pardon Snowden, that would be great. But some high-level responses over the weekend might give you the impression that Trump was considering something really awful—like, I don’t know, bombing a foreign country without congressional authorization, or maybe secretly snooping on citizens’ online data.

Susan Rice, former national security adviser and former ambassador to the United Nations, was one of the final four possible running mates for Democratic presidential candidate Joe Biden before he ultimately chose California Sen. Kamala Harris.

After this tweet from Rice, many Democrats are probably relieved she wasn’t the choice:

“This is who you are now.” If only it were true that the GOP were the party opposed to warrantless surveillance! But sadly, neither major party can actually make that claim. There are a number of elected Republicans who support what Snowden did and oppose this violation of Americans’ privacy, but not nearly enough to comprise the majority.

All summer long, we’ve seen story after story about the use of surveillance against protesters demanding police reform. The Democratic Party is most certainly going to be positioning itself this week as criminal justice reformers and in opposition to overly harsh or oppressive policing systems. How tone-deaf do you have to be to attack the Republican Party for possibly not imprisoning a surveillance whistleblower? The American Civil Liberties Union thinks Snowden should be pardoned. The New York Times editorial board called him a whistleblower and wants him to at least get clemency. But not Rice.

Rice got backup from NeverTrumper columnist Jennifer Rubin, who seems upset that the Cold War is over:

Rep. Liz Cheney (R–Wy.), daughter of the warmongering ex-veep Dick Cheney, was happy to pile on with the “traitor” nonsense:

We have no good evidence that Snowden gave secrets to the Russian and Chinese governments. He gave them to journalists who revealed them to the American public. And the big revelations were about how the NSA treated American citizens.

Cheney focuses on Russia and China here, but the NSA’s apologists have traditionally justified this surveillance as a much-needed way to find out who might have been coordinating with Islamic terrorists overseas. Does anybody remember intelligence officials’ absurd argument that in order to find the needle in the haystack, they needed to build the haystack first? They said they needed everyone’s data in order to search for the “bad guys'” data. This never had anything to do with Russia or China, even if Snowden ended up having to flee to Hong Kong and live in exile in Russia.

The NSA itself has voluntarily abandoned this surveillance. Not only was it ineffective at actually finding threats, but the spies discovered that they simply couldn’t collect this information without repeatedly violating innocent Americans’ privacy rights.

It’s 2020, and people are marching on the streets to stop an overly powerful police state. And yet we’re still seeing people calling Snowden a traitor? Really?

Bonus video: ReasonTV on the case for pardoning Snowden:

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ConLaw and Property Classes #1: “The Judicial Power” and “Adverse Possession: The Theory and Elements”

This semester, I will be posting my YouTube class lectures. You are welcome to follow along at home. Or you can watch the livestream on my channel. Property II meets from 9:00 CT-10:15 CT and Constitutional law meets from 10:30 CT-12:10 CT. For Property, we use the 9th edition of Dukeminer & Krier. And for ConLaw, we use my textbook with Randy, as well as our 100 cases supplement.

Today we covered the judicial power in ConLaw, and adverse possession in Property II. At the end of class, I ask students to submit a brief summary of what they learned. The iClicker app limits short answers to 140 characters (the old length of a tweet). My favorite from today:

“You really enjoy Hamilton. Marshall is over rated. Courts lack jurisdiction to issue a writ of mandamus in its original jurisdiction.”

This student was paying attention.

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Citing a Dubious Study, This Congressman Wants the FDA To Ban E-Cigarettes As a COVID-19 Hazard

Raja-Krishnamoorthi-Twitter-cropped

Rep. Raja Krishnamoorthi (D–Ill.), who chairs the House Oversight Subcommittee on Economic and Consumer Policy, wants the Food and Drug Administration (FDA) to ban e-cigarettes as a COVID-19 hazard. He cites a new study that supposedly shows “e-cigarette users are much likelier to be diagnosed with COVID-19 and to experience symptoms.” But contrary to what you may have read, that is not what the study actually found.

In May, Shivani Mathur Gaiha and two other Stanford researchers conducted an online survey of 4,351 Americans between the ages of 13 and 24, asking about smoking, vaping, and COVID-19 testing, symptoms, and diagnoses. They found that participants who had ever used e-cigarettes alone were five times as likely to be diagnosed with COVID-19 as people who never used nicotine products, a difference that was statistically significant. Yet participants who had vaped during the previous 30 days were less than twice as likely to have tested positive for COVID-19, and that difference was not statistically significant.

Reporting their results in the Journal of Adolescent Health, Gaiha et al. suggest “potential reasons” why vaping might increase the risk of contracting COVID-19. “Heightened exposure to nicotine and other chemicals in e-cigarettes adversely affects lung function,” they write. “COVID-19 spreads through repeated touching of one’s hands to the mouth and face, which is common among cigarette and e-cigarette users. Furthermore, sharing devices (although likely reduced while staying at home) is also a common practice among youth e-cigarette users.”

Such speculation seems premature in light of the finding that current vaping is not associated with a statistically significant increase in COVID-19 risk. Given the confidence interval, it may even be associated with a reduced risk. Meanwhile, the increased risk among people who had ever vaped was large and statistically significant. It is hard to see how the “potential reasons” suggested by the researchers can explain these puzzling results, which imply that people who are still vaping face a lower risk than people who have tried e-cigarettes but do not currently use them.

The study’s findings regarding cigarette smokers are also scientifically improbable. People with a history of smoking (but not vaping) were 2.3 times as likely to have tested positive for COVID-19, while the risk ratio for people who had smoked in the previous 30 days was 1.5. Those results were not statistically significant. But even if they were, the implication, assuming these associations are evidence of a causal relationship, would be that former smokers should start smoking again if they want to reduce their COVID-19 risk.

The results for vapers who were also smokers fit the researchers’ hypothesis a bit better. Participants who had ever been dual users were about seven times as likely to have tested positive for COVID-19, a difference that was statistically significant. Yet the risk ratio for current dual users, although also statistically significant, was slightly lower, meaning that continuing to vape and smoke did not increase the odds of being infected.

Taking these results at face value, one might conclude that people who currently vape and smoke can dramatically reduce their COVID-19 risk by abandoning e-cigarettes and smoking more. That hardly seems like sound medical advice, since smoking is indisputably much more hazardous than vaping. Furthermore, the risk of death among young people infected by the COVID-19 virus, even when they develop symptoms, is negligible, especially when compared to the long-term risk of dying from smoking-related disease.

“If we are to believe these results have real-world implications, then we must believe that exclusively smoking or vaping poses no additional COVID-19 risks, but using both products greatly increases your risk,” observes Gregory Conley, president of the American Vaping Association, a consumer group that supports e-cigarettes as a harm-reducing alternative to the conventional, combustible kind. “Furthermore, having ever used an e-cigarette in your life increases your COVID-19 risks, but having only vaped in the last 30 days does not. This is all scientifically illogical, and no serious health academic would draw conclusions from such contradictory data.”

USA Today story about the study ignores its counterintuitive implications. “A new study has found that vaping is linked to an elevated risk of COVID-19 among teenagers and young adults, providing more evidence of the harmful effects of electronic cigarettes,” writes health reporter Adrianna Rodriguez. “Teens and young adults who vape are five times more likely to become infected with the coronavirus compared with those who did not use e-cigarettes.” She does not mention that teens and young adults who continue vaping somehow magically eliminate that risk, which should be a red flag for anyone who thinks vaping makes people more likely to get COVID-19.

Rodriguez compounds her journalistic malpractice by invoking the condition that officials at the Centers for Disease Control and Prevention call “e-cigarette, or vaping, product use associated lung injury” (EVALI). Despite that misleading name, those lung injuries are associated with black-market THC vapes, not the legal, nicotine-delivering e-cigarettes that were the subject of the study Rodriguez is discussing. Although EVALI has nothing to with COVID-19 risk among nicotine vapers, it gives Rodriguez another spurious excuse to warn us about “the harmful effects of electronic cigarettes.”

Rep. Krishnamoorthi, who was already using COVID-19 as a pretext for urging the FDA to ban e-cigarettes last spring, is likewise unfazed by Gaiha et al.’s illogical results. On April 1, he notes in a letter to FDA Commissioner Stephen Hahn, “I called on the FDA to clear the market of all e-cigarettes, temporarily, for the duration of the coronavirus crisis.” Back then, the “FDA declined to act, citing the need for more evidence that vaping is a risk factor for contracting coronavirus.” But now, Krishnamoorthi says, “we have the evidence that the FDA was waiting for, and it can no longer deny the danger e-cigarettes pose during the coronavirus crisis.”

Krishnamoorthi claims “the science is now in: e-cigarette users are much likelier to be diagnosed with COVID-19 and to experience symptoms.” But judging from the study on which the congressman is relying, that is true only if people stop using e-cigarettes. If they keep vaping, their COVID-19 risk goes back down. That suggests taking e-cigarettes away from vapers, as Krishnamoorthi wants the FDA to do, will foster the spread of COVID-19. If you don’t buy that, you have to consider the possibility that something is seriously wrong with the study he thinks clinches his case.

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Ron Paul Sees ‘Good News’: Fauci’s Out & Common-Sense Might Be Returning

Ron Paul Sees ‘Good News’: Fauci’s Out & Common-Sense Might Be Returning

Tyler Durden

Mon, 08/17/2020 – 15:25

Authored by Ron Paul via The Ron Paul Institute for Peace & Prosperity,

These days it seems there is not much good news out there. People are still panicked over the coronavirus, governments are still trampling civil liberties in the name of fighting the virus, the economy –already teetering on the edge of collapse – has been kicked to the ground by what history may record as one of the worst man-made disasters of all time: shutting down the country to fight a cold virus.

That’s why we’ll take good news wherever we can get it, and President Trump’s hiring of Dr. Scott Atlas to his coronavirus task force may just be that good news we need.

As the media has reported, President Trump has sidelined headline-hogging Anthony Fauci in favor of Atlas, the former Stanford University Medical Center chief of neuroradiology.

Recall, Fauci was the “expert” who told us a few months ago that we would never be able to shake hands again.

Fauci’s advice, forecasts, and assessments proved to be wildly wrong, contradictory, and just plain bizarre: Don’t wear a mask! You must wear a mask. Masks are important as symbols. Put on goggles. Stay home! Churches must be severely restricted but Black Lives Matter marches and encounters with strangers met over the Internet are perfectly fine.

When Anthony Fauci demanded a lockdown of the economy for an indefinite period he actually seemed oblivious to the havoc it would wreak on the economy and on people’s lives.

People like Fauci and others who demanded lockdowns and stay-at-home orders were still collecting their paychecks, so what did they care about anyone else?

Dr. Scott Atlas is not only a former top physician and hospital administrator: as a senior fellow at the Hoover Institution he also understands the policy implications of locking a country down.

On April 22, Dr. Atlas wrote an op-ed in The Hill titled, “The data is in — stop the panic and end the total isolation.” In the article he made five main points that are as true today as when he wrote them: an overwhelming majority of people are at no risk of dying from Covid; protecting older people prevents hospital overcrowding; locking down a population actually prevents the herd immunity necessary to defeat the virus; people are dying because they are not being treated for non-Covid illnesses; we know what part of the population is at risk and we can protect them.

Imagine how many thousands of lives could have been saved had the Administration listened to Dr. Atlas back in April. CDC Director Robert Redfield admitted last month that lockdowns were killing more Americans than Covid. “First do no harm” was thrown out the window and nearly six months of wrong-headed policy has done perhaps irreparable harm to the country.

South Dakota and Sweden did virtually nothing to lock down or restrict their populations and they actually fared better than lockdown states in the US. They had lower death rates, their hospitals were never over-run with Covid patients, and they have an economy to go back to.

We very much hope that Dr. Atlas will not “moderate” his message to please the blob in Washington. Trump’s Covid policies to this point have caused more harm than good. With Fauci out of the driver’s seat we finally have a chance of turning things around.

via ZeroHedge News https://ift.tt/3ayBArf Tyler Durden

The Last Four Times This Happened It Didn’t End Well For Stocks…

The Last Four Times This Happened It Didn’t End Well For Stocks…

Tyler Durden

Mon, 08/17/2020 – 15:10

The S&P500 is up 54% over 102 trading sessions – its strongest rally in history over that period – inching closer to the record high, leaving investors wondering if the current stock-market setup will either be a double-top or an upside breakout. 

With the main equity index flirting with record highs, Reuters’ April Joyner points out Monday morning the 5 day average of CBOE’s equity put/call (P/C) ratio suggests “whether it [S&P500] forms a near-perfect double-top or makes marginal new highs – this measure appears to be suggesting the market may soon be dealt a hand of instability.” 

As the S&P 500 flirts with its February record closing and intraday highs at 3,386.15 and 3,393.52, a contrarian measure of sentiment based on the CBOE equity put/call (P/C) ratio appears to be doubling down on a bearish setup. 

Indeed, the 5-day moving average (DMA) of the P/C ratio, with a current reading of 0.492, is suggesting from a contrarian perspective an overly bullish or especially complacent market, vulnerable to a reversal.

H/T Reuters’ April Joyner

Since late 2018, sub-0.60 readings in this measure have coincided with significant S&P 500 highs. Indeed, most recently, in early June, after this measure fell to a two-decade low at 0.402, the SPX promptly slid more than 8% in just five trading days. 

That said, ahead of the two sharpest SPX declines, in late 2018 and early 2020, the 5-DMA of the P/C ratio made a higher low against a higher SPX closing high.

After its bottom in early June, the measure formed a higher trough in mid-July, and it now appears to have formed a second higher low this month. Meanwhile, the SPX has continued to advance. 

Thus, as the benchmark index tests its February highs – whether it forms a near-perfect double-top or makes marginal new highs – this measure appears to be suggesting the market may soon be dealt a hand of instability. –Joyner

While ‘hope’ and global liquidity have ‘bounced’ the market near new highs; a number of factors suggest it is fraught with immediate danger, including a reversal in state reopenings, the shape of the recovery transforming from “V” to “Nike swoosh,” fiscal cliff, and stretched valuations.

Or maybe, it’s just time for the dead-cat-bounce to end?

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Vitalik Buterin: Ethereum 2.0 Presents A “Much Harder” Challenge Than We Thought

Vitalik Buterin: Ethereum 2.0 Presents A “Much Harder” Challenge Than We Thought

Tyler Durden

Mon, 08/17/2020 – 14:55

Authored by Marie Huillet via CoinTelegraph.com,

Vitalik Buterin says it’s likely that some Ethereum applications may fail, while others succeed – but he accepts it as integral to how the project as a whole will move forward.

image courtesy of CoinTelegraph

Ethereum co-founder Vitalik Buterin says he would “freely admit” that Ethereum 2.0 is “much harder” to implement from a technical perspective than he had expected.

Buterin made his remarks during a debate with Bitcoin maximalist Samson Mow on Peter McCormack’s podcast on Aug. 16. 

During the debate, the trio discussed the reasons for the “open warfare” between the Bitcoin and Ethereum networks and whether the latter will be able to deliver on its many promises. 

McCormack, who is self-avowedly “not far off” from a Bitcoin maximalist position, asked Buterin: “Do you ever feel like Ethereum has become a much more challenging project or idea than you originally envisaged, and potentially, you’ve bitten more than you can chew? And that it gets to the point where there’s no turning back?”

“I definitely freely admit that Ethereum 2.0 is much harder than we expected to implement from a technical perspective,” Buterin said.

He continued: 

“I definitely don’t think that we discovered any fundamental flaws that make it impossible and I do think it will be finished. It’s just a matter of time and it’s actually been progressing quite quickly lately.”

Speaking candidly about how he expects the project to develop, Buterin aded that it’s likely some Ethereum applications may fail, while others succeed. But he sees these ebbs and flows in the project’s multiple aspects as being independent of each other:

“If Ethereum tries to get into one space, and it turns out it’s actually not useful for that space, then fine, you know, those applications will not go anywhere. Meanwhile, the other sectors will keep going,” he said.

Earlier in the podcast, Samson Mow had criticized Ethereum proponents for purportedly shifting the narrative around the project’s ambitions and goals, arguing that “it’s okay to pivot and evolve, but there needs to be a healthy disclaimer that this thing is experimental.

Mow continued to claim thata lot of the Ethereum people are saying Ethereum is money now and whatnot and now it’s competing with Bitcoin […] even I’m not sure what Ethereum is, or what it does, or what it competes with. Is it a world computer? Or is it money?”

Responding to this, Buterin hit back strongly against the notion that Ethereum is reducible to money and said that non-financial applications have been an integral part of the project since its beginning: 

“I definitely did not initiate the whole Ether is money thing, the Ethereum Foundation did not initiate it. That’s something that really did come from the outside.”

via ZeroHedge News https://ift.tt/3kUQdtS Tyler Durden