Wikileaks founder Julian Assange is suffering significant “psychological torture” and abuse in the London prison where he is being held, and his life is now “at risk,” according to an independent UN rights expert. A senior member of his legal team believes Assange may not live until the end of the extradition process.
Assange mumbled, stuttered, and struggled to say his own name and date of birth when he appeared in court on October 21. The Wikileaks founder is being subjected to long drawn-out “psychological torture” as he battles to prevent his extradition to the United States where he faces a slew of espionage charges, warns Nils Melzer, the UN special rapporteur on torture and other cruel, inhuman or degrading punishment.
“Unless the UK urgently changes course and alleviates his inhumane situation, Mr. Assange’s continued exposure to arbitrariness and abuse may soon end up costing his life,” Melzer said in a statement on Friday.
“His physical appearance was not as shocking as his mental deterioration,” writes former British ambassador Craig Murray, who was present at the October hearing. “When asked to give his name and date of birth, he struggled visibly over several seconds to recall both… his difficulty in making it was very evident; it was a real struggle for him to articulate the words and focus his train of thought… Until yesterday I had always been quietly skeptical of those who claimed that Julian’s treatment amounted to torture… and skeptical of those who suggested he may be subject to debilitating drug treatments. But having attended the trials in Uzbekistan of several victims of extreme torture, and having worked with survivors from Sierra Leone and elsewhere, I can tell you that … Julian exhibited exactly the symptoms of a torture victim brought blinking into the light, particularly in terms of disorientation, confusion, and the real struggle to assert free will through the fog of learned helplessness.”
“One of the greatest journalists and most important dissidents of our times is being tortured to death by the state, before our eyes. To see my friend, the most articulate man, the fastest thinker, I have ever known, reduced to that shambling and incoherent wreck, was unbearable,” writes Murray.
Melzer, who is not speaking on behalf of the UN, visited Belmarsh prison in May and conducted an extensive review of Assange’s physical and psychological condition. Melzer told the AFP news agency that his increased alarm is based on “new medically relevant information received from reliable sources” that indicate “Assange’s health has entered a downward spiral of progressively severe anxiety, stress and helplessness typical for persons exposed to prolonged isolation and constant arbitrariness.”
“While the precise evolution is difficult to predict with certainty, this pattern of symptoms can quickly develop into a life-threatening situation involving cardiovascular breakdown or nervous collapse,” he told AFP.
Assange is kept in complete isolation for 23 hours a day, and permitted 45 minutes exercise. When he has to be moved, guards clear the corridors and lock all cells to guarantee he has no contact with any other prisoner outside the exercise period.
Assange “continues to be detained under oppressive conditions of isolation and surveillance, not justified by his detention status,” said Melzer, who pointed out that Assange completed his prison sentence for violating his British bail terms and is “being held exclusively in relation to the pending extradition request from the United States.”
The US charges that Assange, an Australian citizen, violated the U.S. Espionage Act in 2010 when he published a series of leaks provided by Chelsea Manning. Those leaks include the Afghanistan war logs, the Iraq war logs, the Collateral Murder video, and classified U.S. State Department cables. For her role, Manning was court martialed and sentenced to 35 years in prison. After serving seven and a half years in prison, Manning had her sentence commuted by President Obama, but she has since been jailed again for her refusal to testify against Assange.
The U.S. has claimed that Wikileaks’ publications have caused the deaths of Americans serving overseas. But no evidence has ever surfaced to prove this, and Defense Secretary Robert Gates said in 2010 that such claims were “significantly overwrought.”
Nevertheless, the U.S. wants Assange because the information he published was deeply embarrassing to the government. The British courts have already signed off on an extradition order and he will remain behind bars until the hearing, which isn’t until early next year, according to The New York Times.
And curiously, even though mainstream media once heralded Assange’s publications, there is substantially less coverage of his current plight, former CIA officer Raymond McGovern told The American Conservative.
To McGovern, the timing of the U.S. decision to press charges is particularly suspect; charges were announced right after Assange published that the CIA has cyber-tools that can leave a false digital footprint. McGovern, who had visited Assange during his seven-year asylum in the the Ecuadoran embassy, has been a vocal supporter since the beginning.
“The CIA can hack into a system and make it look like the Russians did it,” said McGovern. This challenges the official narrative that Russians hacked the DNC server, exposing Hillary Clinton’s emails. “Imagine that.”
The October hearing was Assange’s first public appearance since May. Illness has prevented him from attending previous hearings.
The UK ignored earlier pleas that to protect Assange’s health and dignity, Melzer said, and his condition has progressed to the point where “his life was now at risk.”
In fact, when Melzer tried to raise the alarm in the media, The Guardian, The Times, the Financial Times, the Sydney Morning Herald, The Australian, The Canberra Times, The Telegraph, The New York Times,The Washington Post, Thomson Reuters Foundation, and Newsweek all refused to publish his op-ed.
Instead of addressing Assange’s health, “what we have seen from the UK government is outright contempt for Mr. Assange’s rights and integrity,” said Melzer. “Despite the medical urgency of my appeal, and the seriousness of the alleged violations, the UK has not undertaken any measures of investigation, prevention and redress required under international law.”
Assange has lost 33 pounds during his imprisonment, according to Australian filmmaker John Pilger. He attended the hearing and has visited Assange in Belmarsh prison.
“To see him in court struggling to say his name, and his date of birth, was really very moving,” said Pilger. “When Julian did try to speak, and to say that basically he was being denied the very tools with which to prepare his case, he was denied the right to call his American lawyer. He was denied the right to have any kind of word processor or laptop. He was denied… his own notes and manuscripts.”
Assange’s “access to legal counsel and documents has been severely obstructed” undermining “his most fundamental right to prepare his defense,” charged Melzer.
The judge refused to grant Assange’s request to delay the February trial.
The lack of legal process in the hearing was “profoundly upsetting,” to watch unfold, writes Murray, because it is “a naked demonstration of the power of the state.”
“Unless Julian is released shortly he will be destroyed,” writes Murray. “If the state can do this, then who is next?”
India’s Factory Output And Electricity Demand Plunge To Decade Lows Amid Economic Downturn
The economic slowdown in India is gaining momentum, new government data Monday shows India’s factory output fell to the lowest level in eight years, resulting in power demand across heavily industrialized states plunging to 12-year lows.
Asia’s third-largest economy saw industrial production fall to 4.3% in September YoY, the lowest print since Oct. 2011.
Industrial production recorded the second straight month of declines in factory output as the automobile crisis in the country deepens.
India’s economic growth slipped to a six-year low of 5% for the April-June period as the automobile industry faces a severe downturn. Consumer demand in recent quarters has also weakened, along with a slowdown in government spending.
The industrial slowdown has resulted in a 13.2% drop in India’s power demand for the October period on a YoY basis, a 12 year low according to the data from the Central Electricity Authority (CEA).
“The slowdown seems to be deep-rooted, especially in the industrial sector. That would certainly increase the anxiety with regard to growth prospects in the current year,” said N R Bhanumurthy, a professor at the National Institute of Public Finance and Policy in New Delhi.
Energy consumption in heavily industrialized states, including Maharashtra and Gujarat, led the declines with -20% demand drop in October, over the past year.
India’s infrastructure output contracted 5.2% last month, one of the worst prints in 14 years, as economists are troubled that aggressive government spending is failing to produce a soft landing in the economy.
The epicenter of the crisis is situated in the heart of the automobile sector, something we warned about several months ago.
Congratulations. Unfilled jobs are at a record high. Unemployment for Black Americans, Hispanics, Asians, and those with only a high school diploma is at or near record lows. For women, near a 66-year low. For youths, a 50-year low.
Wages are increasing. Regulations are far less counterproductive. Corporate tax rates are globally competitive.
Unfortunately, the federal debt continues to explode—a lurking threat to our country as we have known it. When George W. Bush took office, the federal debt, after 225 years, was $5.7 trillion. Since then, only 20 years, the debt has exploded—quadrupled—to close to $23 trillion and is increasing about $4 billion a day. Sadly, no one in government seems to care.
Mr. President, the world is undergoing exciting changes—the Internet, the Cloud world, Big Data, 5G, the Information Age—all in the birthing process. The potential progress is beyond imagination. These changes give you the tools to tackle this lurking threat. Today, there is no reason why every government expenditure—local, state, and federal—is not online, available real time to the public via cell phone, iPad, or computer. Taxpayers should know how their every dollar is spent. It is their money. Today, we have the ability to do just that.
MR. PRESIDENT, YOU CAN CREATE A FOUR-STEP NONPARTISAN TRANSPARENCY REVOLUTION.
You can do for government what Uber and Airbnb did for their industries. They revolutionized their worlds by giving their customers detailed information instantaneously. You can do the same for your customers, the taxpayers, by giving them detailed on-line, real time information on how their money is being spent. Doing so will change who they vote for. Elected officials will be far more likely to inform their constituents of what they have done to eliminate wasted tax dollars rather than some program they put in place to buy votes. This is culture changing. Changes to the culture in government will be far more productive than a top-down budget initiative.
The Transparency Revolution could drastically reduce the cost of government. Government is a monopoly. It has an administrative class, public employee unions, lacks a profit motive, and does not have to deal with progress. This is a lethal combination when it comes to spending other people’s money. The following page represents but a small sample of wasted tax dollars.
STEP 1. PUBLICIZE EVERY WHITE HOUSE EXPENDITURE. DIRECT EVERY DEPARTMENT, EVERY AGENCY IN YOUR ADMINISTRATION TO DO THE SAME AND REPORT THEIR PROGRESS TO YOU MONTHLY.
STEP 2. BEGIN A WAR ON WASTE. Appoint a White House Efficiency Executive to examine every White House expense. Cut every dollar of waste. Have every department, every agency in your administration do the same. Report the progress to you monthly.
STEP 3. MOBILIZE EVERY GOVERNMENT EMPLOYEE. Our government has many fine, dedicated public servants. They know where the waste and incompetence are. They should be encouraged to report what they see. They should be rewarded with a percentage of the realized savings with a smaller percentage going to their department head. Hold an annual recognition dinner.
STEP 4. REPORT THE PROGRESS OR LACK THEREOF TO THE PUBLIC MONTHLY FOR AT LEAST THE FIRST SIX MONTHS, THEN QUARTERLY FOR THE REST OF YOUR ADMINISTRATION. By reporting frequently, you are telling the public and your administration that the Transparency Revolution, the War on Waste, is a high, ongoing priority.
Mr. President, fiscal sanity is every bit as crucial to America’s survival as is a strong defense. There are no free lunches, even in government. As a successful businessman, you understand the importance of managing debt.
Mr. President, you told us that you were going to attack the deficit, drain the so-called Swamp. That is exactly what this Transparency Revolution will do.
* * *
NATIONAL SCIENCE FOUNDATION PAYS TO PUT RUNNING SHRIMP ON A TREADMILL – $1.3 MILLION
FY2012-FY2017 | NATIONAL SCIENCE FOUNDATION | National Science Foundation (NSF) funded an experiment that tested how sickness impaired shrimp mobility by putting the crustaceans on a treadmill made an uproar in the media and in Congress nearly five years ago. Yet the NSF has once again given tax dollars to the same researchers to put the would-be seafood on a cardiovascular workout regime. The investigators – Louis and Karen Burnett – measure the crustaceans’ responses to low oxygen and high carbon dioxide environments in a variety of ways and would also test their reactions “when performing energetically demanding activities,” according to the award abstract. “The energetically demanding activities will be conducted with the aid of a treadmill, as the technique is effective and will help to make the data comparable to previous studies,” Arriens said.
LOBSTER TAIL & SNOW CRAB PURCHASES — $25.4 MILLION
FY2017-2018 | DEPARTMENT OF DEFENSE | As the fiscal year wrapped up, federal agencies celebrated by splurging on luxury food items. The Department of Defense (DOD) originally reported spending $2.3 million on snow crab, Alaskan king crab, and crab legs and claws, plus another $2.3 million on lobster tail. Additionally, agencies spent nearly $300,000 on steak (ribeye, top sirloin, and flank). However, the DOD admitted to inflated disclosures. Their updated numbers reveal lobster and crab purchases amounted to $1.6 million in September 2018 and $25.4 million during an 18-month period. We have additional questions for the agency. Here is a video showing our data download and quantification of $2.3 million (Sept 2018) and $22.1 million (FY2018) in lobster tail purchases as reported by the DOD to the federal government’s official transparency portal at USAspending.gov.
MISTAKES & IMPROPER PAYMENTS DISTRIBUTED BY 20 FEDERAL AGENCIES – $1.5 TRILLION
FY2004–FY2019 | OFFICE OF MANAGEMENT & BUDGET | Congressional Research Service released a report on July 16, 2018, titled “Improper Payments in High-Priority Programs: In Brief.” Garrett Hatch, a specialist in American National Government, authored the report. In the summary, Hatch writes, “Over the period of FY2004 through FY2017, high priority improper payments have totaled $1.2 trillion.” Between FY2017 and FY2019 inclusive, the reports compiled by the Office of Management & Budget show that the agencies admit to approximately $140 billion per year in improper payments. Our reporting published at Forbes.
DEAD PEOPLE RECEIVED MISTAKEN & IMPROPER PAYMENTS – $921 MILLION
FY2018 | MULTIPLE FEDERAL AGENCIES | Dead people received $1 billion in benefits. Medicare, Medicaid, social security payments and also the federal retirement annuity payouts (pensions) kept flowing to dead recipients. Our reporting published at Forbes.
EXPENSIVE COFFEE CUPS: THE PENTAGON PAYS MORE THAN $1,000 FOR A SINGLE COFFEE CUP
FY2018 | U.S. AIR FORCE | The Pentagon admitted to spending $1,220 on a single coffee cup. According to Travis Air Force Base Website. “In 2016, the 60th Aerial Port Squadron purchased 10 hot cups for $9,630. The price for each cup surged from $693 to $1,220 in 2018 resulting in a total expenditure of $32,000 for 25 cups. That’s a price jump of $527 per cup which leads to some pricey hot water,” (July 2018).
LIVING EXPENSE TAX DEDUCTION FOR MEMBERS OF CONGRESS — $1.6 MILLION
FY2019 | INTERNAL REVENUE SERVICE | U.S. Senator Joni Ernst introduced the Stop Questionable, Unnecessary, and Excessive Allowances for Legislators Act, also known as the SQUEAL Act, to cut perks for elected officials and make Washington squeal. This legislation would eliminate a provision of the tax code that allows Members of Congress to deduct, for income tax purposes, up to $3,000 annually in living expenses while in the Washington, D.C. area.
FY2004–FY2019 | HEALTH & HUMAN SERVICES | Congressional Research Service released a report on July 16, 2018, titled “Improper Payments in High-Priority Programs: In Brief.” Garrett Hatch, a specialist in American National Government, authored the report. On page CRS-5, table 2 shows Medicare (Fee for Service) improper payments amounted to $387 billion between FY2004-FY2017. The Office of Management & Budget updated the improper payment amounts for FY2018 and FY2019: yielding a total of $491.9 billion since FY2004.
SEX ED FOR PROSTITUTES IN CALIFORNIA – $1.4 MILLION
FY2016 | BARBARA LEE | CALIFORNIA–13 | DEMOCRAT | Our OpenTheBooks.com Oversight Report – Where’s the Pork, released in May 2018, includes 50 examples of wasteful federal grants (FY2017). On page 5, the report details the $1.4 million grant to the California Prostitutes Education Project from the Department of Health and Human Services.
2020 STUDENT LOANS (ESTIMATED BAD DEBT LOSS) — $17 BILLION
FY2020 | CONGRESSIONAL BUDGET OFFICE (CBO) | The CBO forecasts that the 2020 student loan portfolio will cost the U.S. taxpayer $17.6 billion. ED will loan $102 billion via six college loan programs and the taxpayer subsidy will amount to 17.3% of all money lent in FY2020.
GROUNDED MOON ROCKET COST OVERRUN — $2.79 BILLION
FY2012—FY2019 | NASA | NASA will spend $8.9 billion in tax dollars on the Space Launch System (primarily through a Boeing contract), which is $2.7 billion more than the original estimate. A report found that the project’s problems “can be traced largely to management, technical, and infrastructure issues driven by Boeing’s poor performance” yet NASA awarded Boeing $323 million in performance bonuses.
USE IT OR LOSE IT SPENDING – $97 BILLION
FINAL MONTH FY2018 | ALL FEDERAL AGENCIES | In the final month of fiscal year 2018, 67 federal agencies spent $97 billion to close out their budgets. It was a massive shop-until-you-drop, taxpayer funded spending spree. Our auditors at OpenTheBooks.com found that roughly one out of every nine dollars in federal contracts disclosed by the executive and military agencies in FY2018 was spent during last week of the fiscal year. Eight departments – including the Departments of Defense, Health and Human Services, Energy, Veterans Affairs, Homeland Security, State, and Justice – each spent over $1 billion. These findings were aired in a 30-minute interview on C-SPAN’s Washington Journal and published in our oversight report.
PREPARING RELIGIONS FOR DISCOVERY OF EXTRATERRESTRIAL LIFE – $1.1 MILLION
FY2017 | NATIONAL AERONAUTICS AND SPACE ADMINISTRATION | In 2017, Arizona Senator Jeff Flake published a waste book report. On page 58, the report details the $1.1 million NASA spent enlisting theologians to answer how the world’s religions would respond if extraterrestrial life were discovered.
AIRPORT AT MARTHA’S VINEYARD – $19 MILLION
FY2016—FY2020 | DEPARTMENT OF TRANSPORTATION | On May 3, 2018, we published an editorial at Fox News Online titled, “Just how much federal waste, duplication and weird or unnecessary spending are your tax dollars funding?” The editorial quantifies the $9.2 million in federal grants that flowed to the private airport on Martha’s Vineyard in FY2016. Since then, we updated the figures through 2020.
AUTHORIZED BY CONGRESS & UNSPENT BY AGENCIES — $15 BILLION
FY2018 | Rescissions submitted by EXECUTIVE OFFICE OF THE PRESIDENT (EOP) | From EOP: The attached rescission proposals include unobligated balances from prior-year appropriations and reductions to budget authority for mandatory programs. These proposals include rescissions of funding that is no longer needed for the purpose for which it was appropriated by the Congress; in many cases, these funds have been left unspent by agencies for years. These proposals also include rescissions of low priority and unnecessary Federal spending.
2020 U.S. CENSUS COST OVERRUN — $3.3 BILLION
FY2012—FY2023 | U.S. CENSUS BUREAU | Project: The 2020 national population count conducted by the U.S. Census Bureau is more than $3 billion over budget and will be the most expensive in U.S. history and government auditors are warning that the current cost estimate is not reliable. Original Cost Estimate: $12.3 billion in 2015. Current Cost Estimate: $15.6 billion. Project Began: 2012. Original Completion Date: September 2023. Federal Spending: $15.6 billion
STUDY: HOW FACEBOOK AFFECTS ALCOHOL USE – $147,686
FY2016 | JIM MCDERMOTT | WASHINGTON–7 | DEMOCRAT | Our OpenTheBooks.com Oversight Report – Where’s the Pork, released in May 2018, includes 50 examples of wasteful federal grants (FY2017). On page 7, the report details the $147,686 grant given to the University of Washington from the Department of Health and Human Services.
SPACE RACERS: AN ANIMATED CHILDREN’S CARTOON – $2.5 MILLION
FY2016 | MO BROOKS | ALABAMA–5 | REPUBLICAN | Our OpenTheBooks.com Oversight Report – Where’s the Pork, released in May 2018, includes 50 examples of wasteful federal grants (FY2017). On page 7, the report details the $2.5 million grant given to the Alabama Space Science Exhibit Commission from NASA.
FURNITURE BINGE 2018 USE IT LOSE IT — $491 MILLION
FINAL MONTH FY2018 | MULTIPLE FEDERAL AGENCIES | In the final month of fiscal year 2018, Federal agencies spent a half billion dollars on furniture to close out their budgets. It was a massive shop-until-you-drop, taxpayer funded spending spree. To Redecorate – federal agencies signed nearly 10,000 contracts to purchase furniture. Notably, the Department of Defense spent $9,341 on a Wexford leather club chair. Our findings published at Forbes.
FY2004–FY2019 | HEALTH & HUMAN SERVICES | Congressional Research Service released a report on July 16, 2018, titled “Improper Payments in High-Priority Programs: In Brief.” Garrett Hatch, a specialist in American National Government, authored the report. On page CRS-5, table 2 shows Medicaid improper payments amounted to $234 billion between FY2004-FY2017. Our auditors updated the numbers through FY2019 using disclosures published by the Office of Management & Budget.
GRANTS (SUBSIDIZES) TO FORTUNE 100 COMPANIES — $3.2 BILLION
FY2014—FY2017 | MULTIPLE FEDERAL AGENCIES | Our auditors quantified a four-year period during which Fortune 100 companies spent $2 billion lobbying Capitol Hill and received $3.2 billion in federal grants (2014-2017). These grants, or subsidies, are funded by the American taxpayer. our organization at OpenTheBooks.com released our oversight report, Federal Funding of Fortune 100 Companies. We launched this report on C-SPAN’s Washington Journal and published at Forbes.
FUNDING TOP 25 COLLEGES WITH LARGEST ENDOWMENTS — $6.9 BILLION
FY2017—FY2018 | DEPARTMENT OF EDUCATION | The wealthiest colleges received nearly $7 billion in federal subsidies last year. The top 25 universities with largest endowments (collectively $272 billion) reaped $7 billion in federal student aid. Rich schools are getting richer and taxpayers paid for it. Wealthy colleges must make themselves affordable. Our findings published at Forbes and in our oversight report.
FANCY ROCK SCULPTURE – $482,960
FY2016 | DEPARTMENT OF VETERANS AFFAIRS | After a joint investigation with COX Media Washington, D.C., OpenTheBooks published an editorial at Forbes on July 26, 2016, titled “The VA’s Luxury Art Obsession.” The editorial exposed the Department of Veterans Affairs’ array of luxury artwork, including a fancy rock sculpture costing $482,960.
TALKING TO SAGUARO CACTUS – $10,000
FY2016 | NATIONAL FOUNDATION ON THE ARTS AND HUMANITIES | In July 2017, we published our OpenTheBooks Oversight Report – National Foundation on the Arts and Humanities, detailing numerous examples of wasteful grant making by the National Foundation on the Arts and Humanities. On page 10, the report details the $10,000 grant to the Collage Dance Theatre in Los Angeles. Our report launched on the editorial page of the Wall Street Journal in a column by Roger Kimball.
USING SOAP OPERAS TO REDUCE HIV IN URBAN BLACK WOMEN – $567,529
FY2016 | MIKE CAPUANO | MASSACHUSETTS–7 | DEMOCRAT | Our OpenTheBooks.com Oversight Report – Where’s the Pork, released in May 2018, includes 50 examples of wasteful federal grants (FY2017). On page 7, the report details the $567,529 grant given to Northeastern University from the Department of Health and Human Services.
EARNED INCOME AND MISTAKEN TAX PAYMENTS– $18.8 BILLION
FY2019 | INTERNAL REVENUE SERVICE | Millions of low-income families who Congress designated as qualified recipients were overpaid billions of dollars. The program is rife with errors: the government overpaid $1 in every $4 to beneficiaries. (The IRS administers the program and responded to our request for comment here.) Our auditors used disclosures published by the Office of Management & Budget. Our findings published at Forbes.
FEDERAL FUNDING INTO THE 50 WORST JUNIOR COLLEGES — $923.5 MILLION
FY2017—FY2018 | DEPARTMENT OF EDUCATION | $1 billion in taxpayer subsidies flowed to the 50 worst performing junior colleges as ranked by WalletHub last year. The 10 worst junior colleges had an average graduation rate of 12 percent. Students aren’t graduating. Yet, they’re saddled with large debts. Our findings published at Forbes and in our oversight report.
PR CONTRACTS 2018 USE-IT-OR-LOSE-IT SPENDING SPREE – $462 MILLION
FINAL MONTH OF FY2018 | MULTIPLE FEDERAL AGENCIES | $462 Million Self Promotion Machine – Federal agencies spent millions on public relations, marketing research and public opinion, communications, and advertising in the final month of fiscal year 2018. The feds already employ 5,000 public affairs officers. It wasn’t enough. Our findings published at Forbes.
FY2019 | DEPARTMENT OF LABOR | Unemployment insurance recipients received $3.6 billion in over payments administered by the states through the Department of Labor. The feds blame the states for lax oversight and program management: *The Department of Labor has been aggressively working with states to address unemployment insurance improper payments, providing intensive oversight and technical assistance to states with the highest improper payment rates and providing tools and resources to help all states better prevent, detect, and recover improper payments. Our findings published at Forbes.
BUYING BOOZE FOR EMBASSIES AROUND THE WORLD – $308,994
FINAL MONTH FY2018 | STATE DEPARTMENT & DEPARTMENT OF DEFENSE | On October 3, 2018, we published an editorial at Forbes, titled “Use It or Lose It – Trump’s Agencies Spent $11 Billion Last Week in Year-End Spending Spree.” Using data compiled by OpenTheBooks.com via the Freedom of Information Act, we quantified $79,000 in alcohol expenditures at the Department of State between September 24 and 30, 2017. We updated the numbers for FY2018 in this piece published at Forbes: For some agencies, the end of the fiscal year seems to be one big party. The Department of Defense and the Department of State purchased beer, wine, and whiskey. Contract recipients included Coors Brewing Company ($76,173); E&J Gallo Winery ($16,510), and more.
PERFORMANCE BONUSES – 99.6% OF FEDERAL WORKFORCE RATED “FULLY SUCCESSFUL” — $4.4 BILLION
FY2016—FY2019 | ALL FEDERAL AGENCIES | Approximately $1.1 billion in federal performance bonuses were withheld from disclosure in FY2016. All federal performance bonuses are shielded by anti-transparency language inserted into federal union contracts. According to the U.S. Office of Personnel Management, performance bonuses are sometimes based on salary amount and performance rating, and disclosure may allow others to determine an employee’s rating. According to a Government Accountability Office audit using 2013 data, 99.6 percent of all federal workers received job performance ratings of “fully successful.” That’s a higher rating than the advertised purity of Ivory soap (99.3 percent).
2020 SBA LENDING (ESTIMATED BAD DEBT LOSS) — $4 BILLION
FY2020 | CONGRESSIONAL BUDGET OFFICE | The CBO forecasts that the 2020 SBA loan portfolio will cost the U.S. taxpayer $4 billion. The SBA will loan $44 billion via seven loan programs and the taxpayer subsidy will amount to 9.5% of all money lent in FY2020.
FLEET OF ARMORED VEHICLES – $1.5 MILLION
FY2017 | DEPARTMENT OF HEALTH AND HUMAN SERVICES | On October 3, 2018, we published an editorial at Forbes, titled “Use It or Lose It – Trump’s Agencies Spent $11 Billion Last Week in Year-End Spending Spree.” Using data compiled by OpenTheBooks.com via the Freedom of Information Act, we identified a $1.5 million contract between Square One and the Department of Health and Human Services during the week of September 24 through 30, 2018.
SUPPORTED GREEN GROWTH IN PERU — $10 MILLION
FY2019 | U.S. AGENCY FOR INTERNATIONAL DEVELOPMENT | USAID is committing up to 10 million American taxpayer dollars to develop new and innovative Alliances with the private sector that advance environmentally-friendly economic development (i.e. green growth) in Peru. The envisioned activities will facilitate private sector financing andinvestment in value chains that lead to improved management of natural resources.
RENOVATION BOONDOOGLE FOR NEW HOMELAND SECURITY HEADQUARTERS — $2.1 BILLION
Through FY2019 | HOMELAND SECURITY, GENERAL SERVICES ADMINISTRATION | Trying to turn around an abandoned mental hospital into a new DHS headquarters, the General Services Administration (GSA) and Department of Homeland Security (DHS) have been attempting, since 2005 and at a cost of more than $2.1 billion to the taxpayer, to establish a headquarters for DHS on parts of the property. This effort includes creating office space for the Office of Secretary of Homeland Security and other crucial senior personnel in the West Campus’ main building.
HIPSTER PARTIES – $5 MILLION
FY2015 | NATIONAL INSTITUTES OF HEALTH | In 2015, Arizona Senator Jeff Flake published a wastebook report. On page 11, the report details the $5 million the federal government spent funding “hipster parties.”
VIRTUAL REALITY TO TEACH CHILDREN IN CHINA HOW TO CROSS THE STREET – $183,750
FY2016 | TERRI SEWELL | ALABAMA–7 | DEMOCRAT | Our OpenTheBooks.com Oversight Report – Where’s the Pork, released in May 2018, includes 50 examples of wasteful federal grants (FY2017). On page 7, the report details the $183,750 grant given to the University of Alabama Birmingham from the Department of Health and Human Services.
TAI CHI FOR THE ELDERLY – $696,723
FY2016 | MIKE CAPUANO | MASSACHUSETTS–7 | DEMOCRAT | Our OpenTheBooks.com Oversight Report – Where’s the Pork, released in May 2018, includes 50 examples of wasteful federal grants (FY2017). On page 8, the report details the $696,723 grant given to the Hebrew Rehabilitation Center for the Elderly from the Department of Health and Human Services.
MISTAKES & IMPROPER STUDENT LOANS AND GRANTS – $11 BILLION
FY2017–FY2018 | DEPARTMENT OF EDUCATION | ED lacks basic in-house financial accounting controls, and admits to overpaying $11 billion in Pell grants and student loans over the last two-years. About four percent of all student loans and eight percent of all Pell grants are overpaid. Our oversight published at Forbes.
27’ ARTIFICIAL CHRISTMAS TREE – $21,500
FY2016 | DEPARTMENT OF VETERANS AFFAIRS | In a joint investigation with COX Media Washington, D.C., OpenTheBooks published an editorial at Forbes on July 26, 2016, titled “The VA’s Luxury Art Obsession.” The editorial exposed the Department of Veterans Affairs’ array of luxury artwork purchases over a ten-year period cost taxpayers $20 million, including a 27-foot artificial Christmas tree. Our story was aired on Good Morning America and ABC World News Tonight. Senate Judiciary Chairman Charles Grassley wrote an oversight letter to then-VA Secretary Robert McDonald, who apologized for the purchases and instituted new rules to stop the purchases on a go-forward basis.
BOGUS BONUSES RELATED TO F-35 SPARE PARTS SHORTAGE — $303 MILLION
FY2019 | INSPECTOR GENERAL DEFENSE DEPARTMENT | “We determined that the DoD did not receive RFI F35 spare parts in accordance with contract requirements and paid performance incentive fees on the sustainment contracts based on inflated and unverified F35A aircraft availability hours. As a result, the DoD received nonRFI spare parts and spent up to $303 million in DoD labor costs since 2015, and it will continue to pay up to $55 million annually for nonRFI spare parts until the nonRFI spare parts issue is resolved.”
AVERAGE FEDERAL EMPLOYEE RECEIVES 43 DAYS PAID TIME OFF – $22.6 BILLION
FY2016 | U.S. OFFICE OF PERSONNEL MANAGEMENT | Our OpenTheBooks Oversight Report – Mapping the Swamp quantified the taxpayer cost of federal employees’ benefits package. In the report, there is a section titled “Time Off and Benefits,” beginning on page 11. The average federal bureaucrat receives 10 holidays, 13 sick days, and 20 vacation days. That’s 43 days of paid time off each year.
160,000 DEFAULTED SBA LOANS – $24.2 BILLION
SINCE 2000 | SMALL BUSINESS ADMINISTRATION | In September 2016, we published our OpenTheBooks Snapshot Oversight Report – Truth in Lending, quantifying the 160,000 defaulted Small Business Administration (SBA) loans doled out between 2000 and 2015, costing taxpayers $24.2 billion. Search all bad loans in your own ZIP Code, or any ZIP Code across America, on our interactive mapping platform.
It might sound funny, but so many coins are produced annually that the cost actually adds up. Based on estimates from numbers in the U.S. Mint’s annual report, taxpayers lost about $85.4 million from penny production and $33.5 million from nickel production last year. Over the next decade, taxpayers would save $150 million. Source: here.
FROG MATING CALL STUDY IN PANAMA — $404,991
FY2019 | NATIONAL SCIENCE FOUNDATION | The National Science Foundation spent a significant portion of a grant totaling $466,991 on studying the mating call of the male tungara frog of Panama. In a look at the effects of urbanization, the study examined the differences between the mating call in the city and in the forest, including the likelihood of attracting midges and bats.
SUPERSTORM SANDY FALSE-CLAIM VEHICLE DAMAGE PAYMENTS TO NYC — $5.3 MILLION
FY2019 | FEDERAL EMERGENCY MANAGEMENT AGENCY | The problems began when the New York City Department of Transportation (NYCDOT) submitted a list of claims to FEMA for a total of $12,758,664 in reimbursement for vehicles, all of which it claimed were damaged by the storm. However, “many of the vehicles” instead were already “non-operational — and some had even been marked for salvage —years before Sandy,” The federal government stated in its complaint. The government also made it clear that proper oversight was ignored every step of the way. Source: here.
IVY LEAGUE COLLEGES – $42 BILLION
FY2010–2015 | FEDERAL PAYMENTS, SUBSIDIES, TAX–BREAKS | ALL FEDERAL AGENCIES | In March 2017, we published our OpenTheBooks Oversight Report – Ivy League, Inc. In this report, we quantified all federal payments, subsidies, and tax breaks for the eight Ivy League schools between FY2010-FY2015. The Ivy League schools have $120 billion in accumulated endowment funds. Our findings launched on the editorial page of the Wall Street Journal in a column by James Piereson and Naomi Schaefer-Riley titled, Ivy League Doesn’t Need Taxpayer Help. Our findings were also cited in the Boston Globe as providing research to congress as they instituted a new ‘excessive endowments’ tax in December 2017.
USING E–DIARIES TO COPE WITH MICROAGGRESSIONS – $173,089
FY2016 | ADAM KINZINGER | ILLINOIS–16 | REPUBLICAN | Our OpenTheBooks.com Oversight Report – Where’s the Pork, released in May 2018, includes 50 examples of wasteful federal grants (FY2017). On page 6, the report details the $173,089 grant to Northern Illinois University from the Department of Health and Human Services for these e-diaries.
DANCING WITH 15–FOOT FISH – $10,000
FY2016 | NATIONAL FOUNDATION ON THE ARTS AND HUMANITIES | In July 2017, we published our OpenTheBooks Oversight Report – National Foundation on the Arts and Humanities, detailing numerous examples of wasteful grant making by the National Foundation on the Arts and Humanities. On page 10, the report details the $10,000 grant to the Collage Dance Theatre in Los Angeles.
MEDITATION BREATHING MOBILE APP – $687,989
FY2016 | JIM CLYBURN | SOUTH CAROLINA–6 | DEMOCRAT | Our OpenTheBooks.com Oversight Report – Where’s the Pork, released in May 2018, includes 50 examples of wasteful federal grants (FY2017). On page 6, the report details the $687,989 grant to the Medical University of South Carolina from the Department of Health and Human Services.
FUNDING A FREQUENTLY INVESTIGATED CHILDCARE FACILITY IN TEXAS – $32.6 MILLION
FY2013-2020 | DEPARTMENT OF HEALTH AND HUMAN SERVICES | Our OpenTheBooks.com Oversight Report – Where’s the Pork, released in May 2018, includes 50 examples of wasteful federal grants (FY2017). On page 6, the report details the $5 million in federal grant dollars given to the Shiloh Treatment Center in FY2016 alone. NPR investigated this center and allegations of medicating children. Recently, we updated the numbers to cover the fiscal years 2013 through 2020.
WHERE IT HURTS THE MOST TO BE STUNG BY BEE – $1 MILLION
FY2015 | NATIONAL SCIENCE FOUNDATION | Senator Jeff Flake from Arizona published a report, titled “Twenty Questions: Government Studies That Will Leave You Scratching Your Head.” On page 7, the report details the $1 million grant from the National Science Foundation for a study asking “Where does it hurt the most to be stung by a bee?”
MISTAKEN & IMPROPER SBA LENDING — $1.8 BILLION
FY2018—FY2019 | SMALL BUSINESS ADMINISTRATION | The SBA also has a problem with basic internal financial controls and admitted to $924.5 million in improperly paid “over payments” just last year. The agency cited its “inability to authenticate [borrower] eligibility,” and “administrative or process errors made by the agency.” Our findings were published at Forbes.
SUBSIDIZED LENDING TO WALL STREET BANKERS — $12 BILLION
FY2014—FY2018 | SMALL BUSINESS ADMINISTRATION | A significant portion of SBA lending didn’t go to Main Street; it went to Wall Street. In fact, $12.2 billion in lending flowed to highly capitalized venture capital, mezzanine finance firms, private investor funds and investment pools. That’s not small business.
35,780 FEDERAL LAWYERS – $14.3 BILLION
FY2016—FY2018 | OFFICE OF PERSONNEL MANAGEMENT | Our OpenTheBooks Oversight Report – Mapping the Swamp analyzed the most popular and taxpayer expensive federal employee job titles. On page 16, there is a case study detailing the annual taxpayer cost ($4.8 billion) of employing 35,212 federal lawyers. Only 12,000 of those lawyers are pursuing crime and criminals at the Department of Justice. Recently, we updated the numbers for all the years between FY2016 and FY2018.
IRS PURCHASE OF 4,600 GUNS & 5M ROUNDS OF AMMUNITION – INCLUDING 621 SHOTGUNS, 539 RIFLES & 15 SUBMACHINE GUNS — $15.5 MILLION
FY2006—FY2017 | INTERNAL REVENUE SERVICE | In December 2018, the Government Accountability Office (GAO) published a report to congress quantifying purchases of $1.5 billion in firearms, ammunition, and tactical equipment by federal agencies outside of the Pentagon (FY2010-FY2017). These findings were consistent with our oversight published at The Wall Street Journal in summer 2016, which found 67 federal agencies outside of the Department of Defense purchased $1.4 billion in guns, ammunition, and military-style equipment (FY2006-FY2014).
LUXURY ARTWORK PURCHASES – $20 MILLION
FY2007–FY2016 | DEPARTMENT OF VETERANS AFFAIRS | In a joint investigation with COX Media Washington, D.C., OpenTheBooks published an editorial at Forbes on July 26, 2016, titled “The VA’s Luxury Art Obsession.” The editorial exposed the Department of Veterans Affairs’ array of luxury artwork purchases over a ten-year period cost taxpayers $20 million. Our story was aired on Good Morning America and ABC World News Tonight. Senate Judiciary Chairman Charles Grassley wrote an oversight letter to then-VA Secretary Robert McDonald, who apologized for the purchases and instituted new rules to stop the purchases on a go-forward basis.
3,390 FEDERAL PUBLIC AFFAIRS OFFICERS – $1.1 BILLION
FY2016—FY2018 | 202 FEDERAL AGENCIES | OFFICE OF PERSONNEL MANAGEMENT | Our OpenTheBooks Oversight Report – Mapping the Swamp analyzed the most popular and taxpayer expensive federal employee job titles. On page 17, there is a case study detailing the annual taxpayer cost ($368.4 million) of employing 3,618 federal public affairs officers. There are approximately 5,000 public relations officers employed by all federal agencies, but only 3,618 are disclosed. Recently, we updated the numbers in fiscal years 2016 through 2018.
STUDY: ARE PHYSICIAN TRAINEES RACIST? – $932,741
FY2016 | TIM WALZ | MINNESOTA–1 | DEMOCRAT | Our OpenTheBooks.com Oversight Report – Where’s the Pork, released in May 2018, includes 50 examples of wasteful federal grants (FY2017). On page 9, the report details the $932,741 grant given to Mayo Clinic from the Department of Health and Human Services.
PREVENTING TEEN PREGNANCY THROUGH THEATER – $749,000
FY2016 | CHAKA FATTAH | PENNSYLVANIA–2 | DEMOCRAT | Our OpenTheBooks.com Oversight Report – Where’s the Pork, released in May 2018, includes 50 examples of wasteful federal grants (FY2017). On page 9, the report details the $749,000 grant given to the Public Health Management Corporation from the Department of Health and Human Services.
VIRTUAL SHOE–FITTING – $902,789
FY2015-2016 | MORGAN GRIFFITH | VIRGINIA–9 | REPUBLICAN | ANNA ESHOO | CALIFORNIA-18 | DEMOCRAT | Our OpenTheBooks.com Oversight Report – Where’s the Pork, released in May 2018, includes 50 examples of wasteful federal grants (FY2017). On page 10, the report details the $753,502 grant given to Eclo, Inc. from the National Science Foundation. A representative from Rep. Griffith’s office reached out to us, claiming Rep. Griffith was not responsible for this grant. Read Rep. Griffith’s office’s argument here. Rep. Griffith’s office sent a cease and desist letter to our office and we issued a response. Read our response letter here. Recently, we updated the numbers and the total grants amounted to $902,789.
VIDEO GAME: THE LOGICAL JOURNEY OF THE ZOOMBINIS – $658,388
FY2016 | KATHERINE CLARK | MASSACHUSSETS–5 | DEMOCRAT | Our OpenTheBooks.com Oversight Report – Where’s the Pork, released in May 2018, includes 50 examples of wasteful federal grants (FY2017). On page 11, the report details the $658,388 grant given to Technical Education Research Centers, Inc. from the National Science Foundation.
650 FEDERAL GARDENERS & LANDSCAPERS – $127.1 MILLION
FY2016—FY2018 | U.S. OFFICE OF PERSONNEL MANAGEMENT | Our OpenTheBooks Oversight Report – Mapping the Swamp analyzed the most popular and taxpayer expensive federal employee job titles. On page 18, there is a case study detailing the annual taxpayer cost ($44 million) of employing 650 federal gardeners and landscapers. Recently, we updated the numbers to reflect the cost during fiscal years 2016 through 2018.
SBA LOANS TO EXCLUSIVE CLUBS (COUNTRY CLUBS, YACHT CLUBS, ETC.) – $281 MILLION
FY2007–FY2018 | SMALL BUSINESS ADMINISTRATION | In September 2016, we published our OpenTheBooks Snapshot Oversight Report – Truth in Lending, detailing examples of the Small Business Administration (SBA) doling out small business loans to country clubs, yacht clubs, golf courses, and other exclusive entities. This continued our oversight we kicked off in 2014 of the SBA. Recently, we updated the numbers and published the results at Forbes. Since FY2007, our auditors quantified more than $280 million in lending to private country clubs, beach clubs, swim clubs, tennis clubs and yacht clubs across America. In the past five years, $120 million flowed to these exclusive clubs.
HISTORIC HOBO DAY – $11,987
FY2016 | KRISTI NOEM | SOUTH DAKOTA–1 | REPUBLICAN | Our OpenTheBooks.com Oversight Report – Where’s the Pork, released in May 2018, includes 50 examples of wasteful federal grants (FY2017). On page 8, the report details the $11,987 grant given to South Dakota State University from the National Endowment for the Arts.
STUDY: DISEASE SUSCEPTIBILITY OF TRANSLOCATING TORTOISES – $350,773
FY2016 | GLENN THOMPSON | PENNSYLVANIA–5 | REPUBLICAN | Our OpenTheBooks.com Oversight Report – Where’s the Pork, released in May 2018, includes 50 examples of wasteful federal grants (FY2017). On page 12, the report details the $350,773 grant given to Pennsylvania State University from the National Science Foundation.
MOBILE APP FOR SEX DIARY – $1 MILLION
FY2016 | GRACE NAPOLITANO | CALIFORNIA–32 | DEMOCRAT | Our OpenTheBooks.com Oversight Report – Where’s the Pork, released in May 2018, includes 50 examples of wasteful federal grants (FY2017). On page 12, the report details the $1 million grant given to Public Health Foundation Enterprises, Inc. from the Department of Health and Human Services.
CONVINCING MOTHERS TO STOP TEEN GIRLS FROM USING TANNING BEDS – $671,522
FY2016 | ED PERLMUTTER | COLORADO–7 | DEMOCRAT | Our OpenTheBooks.com Oversight Report – Where’s the Pork, released in May 2018, includes 50 examples of wasteful federal grants (FY2017). On page 12, the report details the $671,522 grant to Klein Buendel, Inc. from the Department of Health and Human Services.
279 FEDERAL INTERIOR DESIGNERS AT VETERANS AFFAIRS – $67.1 MILLION
FY2016—FY2018 | U.S. OFFICE OF PERSONNEL MANAGEMENT | Our OpenTheBooks Oversight Report – Mapping the Swamp analyzed the most popular and taxpayer expensive federal employee job titles. On page 16, there is a case study detailing the annual taxpayer cost ($22 million) of employing 270 federal interior designers. Recently, we updated the numbers at the VA through fiscal years 2016—2018.
LENDING TO MILLIONAIRES: 40,000 $1M+ LOANS — $94 BILLION
FY2014—FY2018 | SMALL BUSINESS ADMINISTRATION | We discovered 40,000 recipients received $1 million plus during fiscal years 2014 through 2018. Since 2007, there were 75,000 recipients receiving $1 million or more. Last year, there were 9,332 recipients, up from 8,275 the previous year. We mapped all of them – recipients of the SBA’s $1+ million loans – by ZIP Code across the country. Search your own neighborhood. Just click a pin (ZIP Code) on our interactive search tool and scroll down to see the results rendered in the chart beneath the map.
FY2004–FY2017 | DEPARTMENT OF AGRICULTURE | Congressional Research Service released a report on July 16, 2018, titled “Improper Payments in High-Priority Programs: In Brief.” Garrett Hatch, a specialist in American National Government, authored the report. On page CRS-5, table 2 shows USDA Crop Insurance improper payments amounted to $3.7 billion between FY2004-FY2017.
HEALTH & HUMAN SERVICES (HHS) PURCHASE OF 1,300 GUNS & 4M ROUNDS OF AMMUNITION – INCLUDING 1 SHOTGUN, 5 SUBMACHINE GUNS & 189 AUTOMATIC FIREARMS – MILLION$
FY2006—FY2017 | HEALTH & HUMAN SERVICES
In December 2018, the Government Accountability Office (GAO) published a report to congress quantifying purchases of $1.5 billion in firearms, ammunition, and tactical equipment by federal agencies outside of the Pentagon (FY2010-FY2017). These findings were consistent with our oversight published at The Wall Street Journal in summer 2016, which found 67 federal agencies outside of the Department of Defense purchased $1.4 billion in guns, ammunition, and military-style equipment (FY2006-FY2014).Specific to HHS, the agency has resisted transparency to specifically quantify how much they have spent.
FARM SUBSIDIES INTO URBAN AREAS – $626 MILLION
FY2015–2017 | POPULATION OVER 250K | U.S. DEPARTMENT OF AGRICULTURE | Our OpenTheBooks Oversight Report – Harvesting U.S. Farm Subsidies, released August 2018, quantifies all federal farm subsidies flowing to urban areas with populations exceeding 250,000 between FY2015-FY2017.
VIDEO GAME FOR YOUR FUTURE–SELF – $1.4 MILLION
FY2014—FY2018 | ROBERT WITTMAN | VIRGINIA–1 | REPUBLICAN | Our OpenTheBooks.com Oversight Report – Where’s the Pork, released in May 2018, includes 50 examples of wasteful federal grants (FY2017). On page 8, the report details the $651,498 grant given to Research and Evaluation Solutions, Inc. from the Department of Health and Human Services. A representative from Rep. Wittman’s office reached out to us, claiming Rep. Wittman was not responsible for this grant. Read Rep. Wittman’s office’s argument here. Our auditor’s updated the numbers to reflect fiscal years 2014 through 2018.
RESEARCHING STIGMATIZATION OF DANISH SMOKERS – $330,176
FY2016 | LOU BARLETTA | PENNSYLVANIA–11 | REPUBLICAN | OpenTheBooks.com Oversight Report – Where’s the Pork, released in May 2018, includes 50 examples of wasteful federal grants (FY2017). On page 11, the report details the $330,176 grant given to Dickinson College from the Department of Health and Human Services.
MEASURING BLOOD PRESSURE AT BLACK BARBERSHOPS – $2.1 MILLION
FY2016 | ADAM SCHIFF | CALIFORNIA–28 | DEMOCRAT | Our OpenTheBooks.com Oversight Report – Where’s the Pork, released in May 2018, includes 50 examples of wasteful federal grants (FY2017). On page 13, the report details the $2.1 million grant given to Cedars-Sinai Medical Center from the Department of Health and Human Services.
389 FARM SUBSIDY RECIPIENTS OF $1 MILLION+ – $667 MILLION
FY2017 | U.S. DEPARTMENT OF AGRICULTURE | Our OpenTheBooks Oversight Report – Harvesting U.S. Farm Subsidies, released August 2018, quantifies the number of federal farm subsidy recipients pulling down $1 million or more in fiscal year FY2017 payments. Reviewing those farming entities who received over $1 million during the past 10-years (since 2008), we found over 6,600 entities received up to $23 million. Search our interactive map of all $1 million recipients of federal farm subsidies from over 60 USDA programs displayed by ZIP Code across America.
EPIDEMIC SIMULATION GAME FOR HIGH SCHOOL STUDENTS – $350,236
FY2016 | DAVID MCKINLEY | WEST VIRGINIA–1 | REPUBLICAN | Our OpenTheBooks.com Oversight Report – Where’s the Pork, released in May 2018, includes 50 examples of wasteful federal grants (FY2017). On page 14, the report details the $350,236 grant given to Wheeling Jesuit University from the Department of Health and Human Services.
HOW AIR POLLUTION AFFECTS BIRTH BY RACE – $788,664
FY2016 | JERRY MCNERNEY | CALIFORNIA–9 | DEMOCRAT | Our OpenTheBooks.com Oversight Report – Where’s the Pork, released in May 2018, includes 50 examples of wasteful federal grants (FY2017). On page 14, the report details the $788,664 grant given to the University of California at Berkeley from the Environmental Protection Agency.
VIRTUAL WEIGHT LOSS GAME – $228,830
FY2016 | HENRY JOHNSON, JR. | GEORGIA–4 | DEMOCRAT | Our OpenTheBooks.com Oversight Report – Where’s the Pork, released in May 2018, includes 50 examples of wasteful federal grants (FY2017). On page 16, the report details the $228,830 grant given to Virtually Better, Inc. from the Department of Health and Human Services.
SMARTPHONE APP FOR PARKING YOUR CAR – $149,999
FY2016 | KRYSTEN SINEMA | ARIZONA–9 | DEMOCRAT | Our OpenTheBooks.com Oversight Report – Where’s the Pork, released in May 2018, includes 50 examples of wasteful federal grants (FY2017). On page 16, the report details the $149,999 grant given to Arizona State University from the National Science Foundation.
REFRAMING BELIEFS ABOUT DEATH & DYING AMONG LATINOS – $882,841
FY2015 | CORNELL UNIVERSITY | NATIONAL INSITUTES OF HEALTH, HEALTH & HUMAN SERVICES In March 2017, we published our OpenTheBooks Oversight Report – Ivy League, Inc. The report includes examples of wasteful grants doled out by the government to the Ivy League colleges. On page 16, the report details the $882,841 in grants given to Cornell University from the National Institutes of Health and the Department of Health and Human Services.
PAYMENTS TO GAY MEXICAN PROSTITUTES FOR SAFE SEX – $53,419
FY2015 | BROWN UNIVERSITY | NATIONAL INSITUTES OF HEALTH | In March 2017, we published our OpenTheBooks Oversight Report – Ivy League, Inc. The report includes examples of wasteful grants doled out by the government to the Ivy League colleges. On page 15, the report details the $53,419 grant given to Brown University from the National Institutes of Health.
12 MEMBERS OF CONGRESS COLLECTED FARM SUBSIDY PAYMENTS – $637,059
FY2017 | U.S. DEPARTMENT OF AGRICULTURE | When conducting research for our OpenTheBooks Oversight Report – Harvesting U.S. Farm Subsidies, released August 2018, our team found 12 members of Congress collecting farm subsidy payments in FY2017. These members of congress sit on the agriculture committee, craft farm policy, vote on the subsidies, and then collect the subsidies. Our Honorary Chairman Dr. Tom Coburn, while in congress, complained to the ethics committee.
FY2006–FY2017 | 67 NON–MILITARY FEDERAL AGENCIES | In July 2016, we published our OpenTheBooks Oversight Report – The Militarization of America, quantifying all non-military federal agency purchases of guns, ammunition, and military-style equipment between FY2006-FY2014. On October 20, 2017, we published updated numbers (FY2006-FY2017) in an editorial at Forbes, titled “Why Are Federal Bureaucrats Buying Guns and Ammo? $158 Million Spent by Non-Military Agencies.”
CLIMATE CHANGE VOICEMAILS FROM THE FUTURE (2020—2065) – $5.7 MILLION
FY2012 | COLUMBIA UNIVERSITY | NATIONAL SCIENCE FOUNDATION | In March 2017, we published our OpenTheBooks Oversight Report – Ivy League, Inc. The report includes examples of wasteful grants doled out by the government to the Ivy League colleges. On page 15, the report details the $5.7 million grant given to Columbia University from the National Science Foundation.
NEW CONDOM DESIGN WITH MORE LUBRICATION – $1.1 MILLION
FY2016—FY2019 | JOSEPH KENNEDY III | MASSACHUSETTS–4 | DEMOCRAT | Our OpenTheBooks.com Oversight Report – Where’s the Pork, released in May 2018, includes 50 examples of wasteful federal grants (FY2017). On page 6, the report details the $200,601 grant given to Hydroglyde Coatings from the Department of Health and Human Services. Recently, we updated the numbers to include fiscal years 2016 through 2019.
FUNDING CHRISTIAN SEMINARIES TO MINT PASTORS & PRIESTS — $815 MILLION
FY2014—FY2017 | DEPARTMENT OF EDUCATION | Nearly $1 billion funded 112 seminaries to mint pastors and priests. Our findings were published at Forbes and research published in our oversight report.
VA PURCHASE OF GUNS, 11 MILLION ROUNDS OF AMMUNITION, AND MILITARY-STYLE EQUIPMENT — $17.3 MILLION
FY2006—FY0217 | VETERANS AFFAIRS | The Department of Veterans Affairs (VA) has a mission to provide basic healthcare for veterans. In 1996, the VA didn’t have a police force. Over the last eight years, however, the VA purchased 11 million rounds of ammunition, which amounts to 2,800 rounds for each of their 3,957 officers. The VA also purchased camouflage uniforms, riot helmets and shields, specialized image enhancement devices and tactical lighting. Our findings published at Forbes.
TWO SCULPTURES FOR VA FACILITY THAT SERVES BLIND VETERANS – $670,000
FY2016 | DEPARTMENT OF VETERANS AFFAIRS | In a joint investigation with COX Media Washington, D.C., OpenTheBooks published an editorial at Forbes on July 26, 2016, titled “The VA’s Luxury Art Obsession.” The editorial exposed the Department of Veterans Affairs’ array of luxury artwork, including a $670,000 sculpture for a VA facility that serves blind veterans.
ARTS GRANTS FOR ORGANIZATIONS WITH OVER $1 BILLION IN ASSETS – $143 MILLION
FY2009–2016 | NATIONAL FOUNDATION ON THE ARTS AND HUMANITIES | In July 2017, we published our OpenTheBooks Oversight Report – National Foundation on the Arts and Humanities, detailing numerous examples of wasteful grant making by the National Foundation on the Arts and Humanities. The report quantifies all FY2016 arts and humanities funding flowing to organization with over $1 billion in assets each (page 5). Our report launched on the editorial page of the Wall Street Journal in a column by Roger Kimball.
ROBERT REDFORD’S SUNDANCE INSTITUTE – $4.6 MILLION
FY2009—FY2019 | NATIONAL FOUNDATION ON THE ARTS AND HUMANITIES | In July 2017, we published our OpenTheBooks Oversight Report – National Foundation on the Arts and Humanities, detailing numerous examples of wasteful grant making by the National Foundation on the Arts and Humanities. On page 7, the report details the $200,000 in funding Robert Redford’s Sundance Institute received in FY2016. Our report launched on the editorial page of the Wall Street Journal in a column by Roger Kimball. Recently, we updated the numbers from FY2009 and found millions of dollars in grants to this well healed arts organization with roughly $50 million in gross assets.
FEMINIST PORN BOOK AND OTHER TITLES – $55,000
FY2016 | NATIONAL FOUNDATION ON THE ARTS AND HUMANITIES | In July 2017, we published our OpenTheBooks Oversight Report – National Foundation on the Arts and Humanities, detailing numerous examples of wasteful grant making by the National Foundation on the Arts and Humanities. On page 8, the report details the $55,000 grant the Feminist Press received in FY2016. Our report launched on the editorial page of the Wall Street Journal in a column by Roger Kimball.
EPA PURCHASE OF GUNS, AMMO, AND MILITARY–STYLE EQUIPMENT – $3.4 MILLION
FY2006–FY2017 | ENVIRONMENTAL PROTECTION AGENCY | In July 2016, we published our OpenTheBooks Oversight Report – The Militarization of America, quantifying all non-military federal agency purchases of guns, ammunition, and military equipment between FY2006-FY2014. On October 20, 2017, we published updated numbers (FY2006-FY2017) in an editorial at Forbes, titled “Why Are Federal Bureaucrats Buying Guns and Ammo? $158 Million Spent by Non-Military Agencies.” In both studies, we quantified all Environmental Protection Agency (EPA) purchases of guns, ammunition, and military-style equipment. Our report launched in a co-authored editorial at the Wall Street Journal with Dr. Tom Coburn titled, Why Does the IRS Need Guns?.
“GAMES FOR CHANGE” VIDEO GAME CONVENTION – $200,000
FY2016 | NATIONAL FOUNDATION ON THE ARTS AND HUMANITIES | In July 2017, we published our OpenTheBooks Oversight Report – National Foundation on the Arts and Humanities, detailing numerous examples of wasteful grant making by the National Foundation on the Arts and Humanities. On page 10, the report details the $200,000 grant Games for Change, Inc. received. Our report launched on the editorial page of the Wall Street Journal in a column by Roger Kimball.
CIGAR TASTE TEST – $114,375
FY2016 | ROBERT SCOTT | VIRGINIA–3 | DEMOCRAT | Our OpenTheBooks.com Oversight Report – Where’s the Pork, released in May 2018, includes 50 examples of wasteful federal grants (FY2017). On page 5, the report details the $114,375 grant to Virginia Commonwealth University from the Department of Health and Human Services.
COMEDY CLUB HOLOGRAMS – $1.7 MILLION
FY2017 | DEPARTMENT OF COMMERCE | A report by Arizona Senator Jeff Flake quantified $1.7 million given to a nonprofit called the National Comedy Center from the Department of Commerce. The grant was awarded to help the nonprofit construct a comedy museum that will “resurrect” dead comedians as holograms.
HOW TO USE A LAWYER GUIDE – $728,000
FY2015 | DEPARTMENT OF AGRICULTURE | In 2015, Arizona Senator Jeff Flake published a wastebook report. On page 89, the report details the $728,000 the Department of Agriculture spent on a “How to Use a Lawyer” guide.
LIGHTING FOR LIQUOR STORES – $50,000
FY2017 | DEPARTMENT OF AGRICULTURE | In 2017, Arizona Senator Jeff Flake published a wastebook report. On page 56, the report details the $50,000 the Department of Agriculture spent on liquor store lighting in Florida, Colorado, and Oklahoma.
ADVERTISING AND PUBLIC RELATIONS (PR) CAMPAIGNS — $1.4 BILLION
FY2020 | ALL FEDERAL AGENCIES | U.S. Senator Joni Ernst quantified $1.4 billion per year spent on PR by the federal agencies. These findings are consistent with our previous oversight report in 2015, The Department of Self-Promotion.
HOW ALCOHOL AFFECTS MEN’S ATTENTION AND SENSITIVITY TO SEXUAL INTEREST CUES – $180,921
FY2016 | DAVE LOEBSACK | IOWA–2 | DEMOCRAT | Our OpenTheBooks.com Oversight Report – Where’s the Pork, released in May 2018, includes 50 examples of wasteful federal grants (FY2017). On page 7, the report details the $180,921 grant given to the University of Iowa from the Department of Health and Human Services.
EXTRA: USDA SPENDS MILLIONS SUBSIDIZING CRICKET FARMS FOR HUMANS TO EAT BUGS
FY2017 | DEPARTMENT OF AGRICULTURE | According to USAspending.gov search results (May 2, 2017) Bugeater Labs received Department of Agriculture funding. The University of Nebraska Omaha College of Business Administration website published an article on April 28, 2017, titled “Bugeater Foods,” explaining the funding.
Former President Jimmy Carter has been hospitalized tonight to undergo a procedure to relieve pressure on his brain caused by bleeding following his recent falls.
According to a statement the 95-year-old’s surgery is set to take place Tuesday morning at Emory University Hospital. The spokesperson said he was “resting comfortably,” with his wife, Rosalynn by his side.
In May 2019, he suffered another health setback when he fell and broke his hip. The fall left him with a black eye and 14 stitches – but he nevertheless attended the opening ceremony for a Habitat for Humanity build in Nashville along with Rosalynn, who is 92.
The US higher education system is broken. In many cases, it produces individuals with useless degrees purchased at outrageous cost. The system itself is an infestation of ultra liberal professors, spineless administrators and a student body that becomes more and more radicalized and detached from reality the more courses they take.
The higher education system is the incubator for the anti white, anti male, anti Trump, pro freak, pro censorship, anti gun, pro socialist, anti conservative, pro unlimited immigration, pro free everything mentality that pervades what purports to be the evening news. It infantilizes young adults to produce a steady stream of victims and mental midgets completely unprepared to meet the real adult world. In short, it produces the Democrat voter.
All is not lost, however. By and large, STEM graduates are less affected by the SJW mental aberration as their critical thinking abilities are necessarily on a higher plane to be able to cope with a curriculum that is more than just opinion. STEM fields have empirically based phenomena to comprehend and must use known tested methods of reasoning and logic to handle the problems and situations a particular field is called upon to investigate. Although STEM students are typically forced to sit through nonsense classes and regurgitate what the instructors deem critical information, they instinctively know its BS and promptly forget it once the class is over. They’re typically not permanently scared.
The problem lies with the ‘Basket Weaving’ majors where no proof of anything is required or even possible as it’s all just opinion and supposition. The Humanities / Social Sciences / Liberal Arts courses offer an easy path towards a degree, many of which are absolutely worthless. It’s actually a shame that some of them do lead to living wage and beyond employment options that end up producing many of the fraudulent professions society is encumbered by like Economics, Psychiatry and other specializations that can’t prove anything past common sense.
I’ll concentrate primarily on what to do to eliminate only the most egregious fraudulent degrees that are currently plaguing society.
The concept of tenure needs to be eliminated. No one should be guaranteed a livelihood by managing to hit some arbitrary mark and thereafter have no responsibility for doing a good job as reviewed by their employer. The education profession needs to get rid of the dead wood clogging the system and consuming resources.
All higher education facilities should be mandated to provide their graduates with job opportunities via an employment agency owned and operated by the institution, not a contracted for service. The schools should be totally responsible for finding each graduate a position in the degree field of study for 5 years post graduation.
If the institution is unable to place a graduate, then the former student is entitled to a full refund of all tuition paid for a proven obviously useless degree plus 5 times tuition paid for the waste of time involved and to provide the former student with a funds cushion to get retrained in something with a future. In the case where a graduate is unemployable for no reason the school is responsible for or where there is a dispute over responsibility, a 3rd party would be called upon to make a judgment.
If this were implemented, Gender Studies, Recreational Science, Hospitality Science, Museum Curator, Drama Studies and similar courses would disappear overnight from most campuses along with the faculty that teach the classes. The schools know these are for the most part BS courses and know that the chances of someone getting employed with one of the basket weaving degrees is so low that it would be financially too risky to offer the course.
Gone would be the professors teaching these nonsense courses. Gone would be the lenders to provide the student loans, guaranteed by the Fed Gov which steals the funds from the general public. Gone would be the students mentally or some other way incapable of STEM degrees with no option but to consider vocational training or learn how to say – ‘Do you want fries with that’. Gone would be the windfall profits higher ed facilities have enjoyed in recent decades. Gone would be the unsustainable building boom for facilities completely unrelated to teaching but used as enticements to attract low IQ students easily dazzled by shiny objects. Gone would be the nonsense classes STEM students are now forced to take. Gone would be the environment were the purveyors of bullshit get to indoctrinate the latest crop of weak susceptible minds.
Some may claim this violated free market principles. I would counter that the advancement of institutionalized fraud is not in the society’s best interests. If a student were to sign away his/her rights to compensation and effectively opt for today’s environment, then that would absolve the institution of responsibility. The free market would be restored as long as informed consent is involved.
In addition, it should be obvious that no one should be able to get an advanced degree in a field that can’t prove it’s basic precepts. As mentioned previously, something like Economics is almost entirely BS. Economists can’t prove anything past common sense and can’t even provide a proper postmortem after an economic catastrophe. Likewise, Psychiatry has not a single empirical test for the hundreds of conditions listed in their DSM. Psychiatry is opinion masquerading as science and is simply an outlet for Big Pharma to push their mind altering poisons. The large majority of mass shooters have been on prescription only psychoactive drugs.
Other fields that I generally refer to as the ‘story telling’ professions should likewise be reigned in. Paleontology, Anthropology, Cosmology, large portions of Geology and many more fields are largely based on a plausible story as their foundation, sans evidence. Absolute proof for their assertions is impossible and consequently it should be impossible to get a degree above Bachelors in these disciplines.
No one should claim to be an expert (PhD) in a field that is based on opinion. In the off chance that something like Climate Science might someday actually be able to provide proof of their assertions, it, as an example, should be able to produce Bachelors graduates that can attempt to further the field but would no longer be able to fool the public into thinking they know what’s going on due to their bogus PhD pedigree.
Bay Area Home Prices Continue Slide, Peak Is likely In
Mainstream financial media drummed up a narrative in 1H19 about how this summer’s tech IPOs would lead to overnight millionaires across the Bay Area, and in return, would produce the next leg up in the region’s real estate market.
The economic narrative never gained traction, partly because of the IPO market imploded. New issues like Lyft and Uber have seen shares nearly halved in the last six months, leaving many investors underwater.
As for the IPO market pumping out overnight millionaires, well, that remains to be seen as the Bay Area real estate market continues to deteriorate, with expectations of a further plunge in 1H20.
The Bay Area median sales price in September for an existing home, across nine-counties including Alameda, Contra Costa, Marin, Napa, San Francisco, San Mateo, Santa Clara, Solano, and Sonoma, plunged 4.7% YoY to $810,000, according to real estate data firm CoreLogic.
Bay Area home prices are some of the most expensive in the country and might have put in a cyclical peak in 2019.
“I think the immediate trigger a year ago was the run-up in mortgage rates,” said Dr. Frank Nothaft, a chief economist at CoreLogic.
“Mortgage rates got posted about 5% a year ago, and that put up a chill on all potential buyers in the market place. When mortgage rates go up, that means the monthly mortgage payment is just taking that much bigger of a bite from family income.”
San Jose-based realtor Holly Barr told NBC Bay Area that prices have been slipping for more than a year. Barr noted that price growth has stalled in the last several years, likely marking the top of the market.
“If you look at the trend over the last two years, it’s definitely come down,” she said.
The region has seen YoY sale price declines in the last several months as the slowdown continues to worsen. This recent period of waning demand comes after seven years of rapid price growth.
Agents overwhelmingly said buyers have been on the sidelines waiting for the right deal. Many wanted to avoid a bidding war and needed prices to correct further before they entered offers.
Some buyers were concerned about a late 2020 recession, trade war uncertainties, and the threat of a corporate debt bubble implosion.
The S&P CoreLogic Case-Shiller San Francisco Home Price Index has likely peaked in a double top fashion.
The Federal Reserve usually embarks on an interest rate cut cycle in preparation for macroeconomic headwinds developing in the economy that eventually damages the housing market.
As shown below, the Case-Shiller San Francisco Home Price Index tends to fall in a cut cycle.
Bay Area home prices will continue to weaken through 1H20. At what point do millennial homeowners, most of whom bought the top of the market, panic sell into a down market?
Citing “gun violence,” the University of Virginia has canceled the 21-gun salute portion of its Veterans Day ceremony, an annual tradition that dates back at least a decade.
In a statement posted to social media on Saturday, university President James Ryan stated the reason was two-fold:
“to minimize disruptions to classes, given that this event is located at the juncture of four primary academic buildings and is held at a time that classes are in session; and second, recognizing concerns related to firing weapons on the Grounds in light of gun violence that has happened across our nation, especially on school and university campuses.”
According to the local ABC news affiliate WHSV, the annual ceremony “marks the conclusion of a 24-hour vigil by ROTC cadets and has included the 21-gun salute for more than a decade,” but the decision to nix the salute was made by the provost’s office in conjunction with the colonel of UVA’s ROTC program.
Backlash has been so severe Ryan said the university will revisit the issue in 2020.
“[C]ommunity responses have helped us to understand that many see the 21-gun salute as an important element of the Veterans Day ceremony at the University of Virginia. Given that the plans are already in place for this year, we will follow the event organizers’ recommendation to proceed without the 21-gun salute in our Veterans Day Ceremony. Following this year’s ceremony, however, we will work with our ROTC officers and cadets to take a closer look at options for our Veterans Day events, including those that would enable us to re-introduce the 21-gun salute to the program,” Ryan stated.
According to media outlets in Virginia, the decision prompted anger. The Daily Progress, the newspaper in Charlottesville, Virginia, published several letters to the editor lambasting the decision.
One letter argued that the decision disrespected the fact that the university’s rotunda hosts plaques honoring hundreds of alumni slain in previous wars. Another argued “veterans deserve better.”
The decision also sent “an unfortunate message about students: That they are too fragile, too delicate, too distractible to deal with the ‘interruption’ of the salute. That they are too insular, too wrapped up in their own worlds to comprehend and accept this longstanding practice. That they must be protected from the reality that exists outside academia,” another letter writer chimed in.
Some Twitter users responding to Ryan’s statement were a little more blunt. Among them: “How ‘we’ reached the decision? The buck stops with you. Score one for the snowflakes.”
Tweeted another: “As a @UVA #UVA student veteran, thank you for marginalizing my community. That is a direct, unmitigated slap in the face to those of us who have served, and especially to those of us who have served and lost. I am deeply sorry that you decided to make this incorrect decision.”
However Ryan garnered some support, too, with one replying “people forget that rampant mass shootings are commonplace now, so it makes sense not to be firing off guns near classrooms,” and another noting that “as a long-ago alumna, I want you to know how much you continue to impress. You do our university and your role proud.”
President Xi Reiterates Combat-Readiness, Says Army Needs to Be “Powerful As Tigers”
Chinese President Xi Jinping recognizes that the so-called trade war between the US has very little to do with trade; it has more to do with the US attempting to squash China as a rising power.
PLA Daily reported on Monday that President Xi told a Central Military Committee (CMC) conference on the People’s Liberation Army’s (PLA) armed forces that it must be combat-ready and adjust to a world of rising volatility.
“The grass-roots level of the military is experiencing new conditions and changes in its mission, construction, daily operation, unit structure, personnel composition, and social environment,” President Xi, the CMC’s chairman, said.
President Xi said all PLA ranks must be ready for combat, even lower-ranked units.
“Our commanders and soldiers should be courageous, and our troops should be powerful as tigers,” he added.
In the last five years, President Xi has led a massive military modernization effort across the PLA. He has guaranteed the immediate deployment of new military weapons, like fifth-generation fighters, modern warships, laser weapons, railguns, stealth drones, and hypersonic missiles.
He said the modernization effort has led to increased combat-readiness and a strengthened military.
President Xi had previously said China was “confronted with unpredictable international developments and a complicated and sensitive external environment” and said PLA forces are ready to answer the call to fight at any given moment.
China’s increased combat-readiness is mostly due to the US attempting to prevent it from being a major superpower.
By 2025-2030, China’s economic, industrial, technological, and military achievements are likely to displace the US as a global superpower.
China is modernizing its military and preparing for a fight against the US.
Both China and the US have fallen into Thucydides Trap, one where the rising power (China), challenges the status quo power (the US), usually results in a shooting war.
Experts are warning us that this will be a “freezing, frigid, and frosty” winter, and even though the official beginning of winter is still over a month away, it already feels like that in much of the country right now.
Over the next several days, it will literally feel like it is mid-January in much of the central and eastern portions of the United States. Many areas will be hit by temperatures that are 30 degrees below normal, and heavy snow is expected in some areas of the Midwest. Unfortunately, this bitterly cold weather is coming at a very bad time for corn farmers. According to the latest USDA crop progress report, only 52 percent of the corn in the middle of the country has been harvested. So about half of the corn is still sitting out there, and these extraordinarily low temperatures could potentially be absolutely devastating. In essence, this cold front threatens to put an exclamation point on an absolutely horrific year for U.S. farmers. According to the National Weather Service, we could possibly see “170 potential daily record cold high temperatures” over the next three days…
“The National Weather Service is forecasting 170 potential daily record cold high temperatures Monday to Wednesday,” tweeted Weather Channel meteorologist Jonathan Erdman. “A little taste of January in November.”
The temperature nosedive will be a three-day process as a cold front charges across the central and eastern U.S. from Sunday into Tuesday.
We are being told that low temperatures in certain portions of Texas could plunge into the teens, and all across the Upper Midwest we could see low temperatures that are well below zero.
Of course this is not the first wave of record cold weather to come rolling through this season. During the month of October, a couple of major blizzards roared through the Midwest and countless new cold temperature records were established.
And unfortunately we should expect a lot more bitter weather in the months ahead. Both the Farmers’ Almanac and the Old Farmer’s Almanac are projecting that this upcoming winter will be unusually cold and snowy…
Not long after the Farmers’ Almanac suggested it would be a “freezing, frigid, and frosty” season, the *other* Farmer’s Almanac has released its annual weather forecast—and it’s equally upsetting.
While the first publication focused on the cold temperatures anticipated this winter, the Old Farmer’s Almanac predicts that excessive snowfall will be the most noteworthy part of the season.
The Old Farmer’s Almanac, which was founded in 1792, says that the upcoming winter “will be remembered for strong storms” featuring heavy rain, sleet, and a lot of snow. The periodical actually used the word “snow-verload” to describe the conditions we can expect in the coming months.
So why is this happening?
It is actually quite simple.
During a solar minimum, solar activity drops to very low levels, and that tends to mean lower temperatures on Earth.
Earlier this year, a panel of experts gathered to discuss the current solar minimum, and they came to the conclusion that it “could last for years”…
If you like solar minimum, good news: It could last for years. That was one of the predictions issued last week by an international panel of experts who gathered at NOAA’s annual Space Weather Workshop to forecast the next solar cycle. If the panel is correct, already-low sunspot counts will reach a nadir sometime between July 2019 and Sept 2020, followed by a slow recovery toward a new Solar Maximum in 2023-2026.
“We expect Solar Cycle 25 will be very similar to Cycle 24: another fairly weak maximum, preceded by a long, deep minimum,” says panel co-chair Lisa Upton, a solar physicist with Space Systems Research Corp.
But that would actually be a best case scenario.
There are others that believe that we have now entered a “grand solar minimum” such as the one that our planet experienced several hundred years ago. That one was known as “the Maunder Minimum”, and it resulted in a “little ice age”…
The extreme example happened between 1645 and 1715 when the normal 11-year sunspot cycle vanished. This period, called the Maunder Minimum, was accompanied by bitterly cold winters in the American colonies. Fishing settlements in Iceland and Greenland were abandoned. Icebergs were seen near the English channel. The canals of Venice froze. It was a time of great hardship.
Ultimately, the longer winters and shorter summers during the “Maunder Minimum” resulted in famine all over the globe, and multitudes ended up perishing…
The Maunder Minimum is the most famous cold period of the Little Ice Age. Temperatures plummeted in Europe (Figs. 14.3–14.7), the growing season became shorter by more than a month, the number of snowy days increased from a few to 20–30, the ground froze to several feet, alpine glaciers advanced all over the world, glaciers in the Swiss Alps encroached on farms and buried villages, tree-lines in the Alps dropped, sea ports were blocked by sea ice that surrounded Iceland and Holland for about 20 miles, wine grape harvests diminished, and cereal grain harvests failed, leading to mass famines (Fagan, 2007). The Thames River and canals and rivers of the Netherlands froze over during the winter (Fig. 14.3). The population of Iceland decreased by about half. In parts of China, warm-weather crops that had been grown for centuries were abandoned. In North America, early European settlers experienced exceptionally severe winters.
So far in 2019, there have been more than 200 days without a single sunspot on the sun.
We do not know when solar activity will return to normal, but for now we should all prepare for a bitterly cold winter.
Beyond that, we had better hope that we have not entered another “Maunder Minimum”, because right now we are struggling to feed everyone on the planet even in the best of years.
Despite all of our advanced technology, we remain deeply dependent on the weather. Even a year or two of bad harvests could potentially be absolutely catastrophic, and the mainstream media will not tell us the truth until it is way too late to do anything about it.
CLO Slump Sparks Warning: “There’s More Volatility Coming”
It’s not just The Fed’s short-term liquidity pipes that are clogged up, there appears to be some issues in the loan market, signaled by sharp declines in the $680 billion market for collateralized loan obligations (CLO), which could be an early warning sign that the junk bond market is headed for trouble.
As President Trump pumps fake trade news, causing the ‘Mother Of All Short Squeezes’ in equity indexes to new highs, the CLO market in October fell 5%.
Source: Bloomberg
The rare decline in the CLO market was a result of the increasing uncertainties surrounding an economic slowdown.
S&P Global Market Intelligence data shows the CLO market has grown by $350 billion in the last three years, now stands at $680 billion, yield chasing investors mostly fueled the increase.
“We think there’s more volatility coming,” said Maggie Wang, head of US CLO strategy at Citigroup, who spoke The Wall Street Journal.
“We recommend investors reduce risk and stay with cleaner portfolios and better managers.”
This late in the cycle, a plunge in CLO bond prices with equities in parabolic up moves indicates something is wrong.
The CLO tranches that are experiencing the most stress are in the double-B tranche. These risky CLO securities netted investors 10% through June. But through the end of October, most of the gains were wiped out.
“If you think that double-B CLOs are giving a warning sign, that says something about high yield,” said David Preston, head of CLO research at Wells Fargo & Co. “It’s hard to see how both markets can be right.”
Data from Palmer Square Capital Management shows Double-B CLO bond yields are about five percentage points higher than the yield of comparably rated junk bonds.
“The yield differential hasn’t been this wide since early 2016, when dropping oil prices sparked a selloff in both leveraged loans and high-yield bonds,” The Journal noted.
Between the chaos in the repo markets, now tamped down by the promise of endless liquidity from NYFRB, and the ongoing scare in the critical-for-junk-demand CLO market, some fear the end of the year could bring a notably negative surprise.
None other than Credit Suisse’s Zoltan Pozsar (the main in charge of market intelligence for securitized credit markets for The Fed in 2008) has a warning…
“There is a very real chance that, if we don’t have a better set of pipes from the Fed and a more aggressive QE, then you have a very, very problematic year-end turn.”
But for now, record-high stocks and trade-deal optimism are all that matters, right?
