CIA Wants Its Narrative Back, Live-Tweets bin Laden Raid Five Years Later

To commemorate the fifth anniversary of former al-Qaeda leader Osama bin Laden’s assassination, the CIA went on a public relations-offensive, including a sustained retroactive live-tweet session of the events which led to Navy SEAL Team Six taking out the world’s most wanted terrorist, and handing the Obama administration its most prominent foreign policy victory.

Ever since the CIA took its brand to the 140 characters-or-less social medium known for its acidic snark and self-promotion, it has tried to fit in with the cool Twitter kids by making jokes about Tupac Shakur conspiracy theories or cat pictures.

But the decision to live-tweet the #UBLRaid, using only the sparest of details to further entrench the legend of Top Men and Women in Washington, DC making big decisions carried out by strong and fearless warriors on a creepy compound in Abbottabad, Pakistan, struck many as a tone-deaf and unprofessional use of the platform. 

The football-spiking over killing bin Laden also appeared like a Zero Dark Thirty#UBLRaideqsue attempt to distract from the fact that bin Laden’s death did essentially nothing to win the “War on Terror,” which rages well into its second decade as al-Qaeda’s rival and progeny ISIS controls significant portions of several countries. These include Iraq, a country we “liberated” as a direct consequence of 9/11 and which we continue to send troops to despite the war being “over,” and Libya, which we “helped” to liberate in 2011 and has since descended into a failed state that is flypaper for jihadists. It’s always worth noting that the US intervention in Libya has been variously described as “smart power” by Former Secretary of State Hillary Clinton and the “worst mistake” of his presidency by President Obama.

The CIA may also not be appreciating the fact that 9/11’s re-emergence into the news cycle — via the recent attention given to the “28 pages” of a congressional inquiry which several sitting and former congresspeople claim contains evidence that the 9/11 hijackers received significant support from officials in the Saudi government— draws attention to the agency’s many intelligence failures leading up to the atrocities which killed over 2,800 people.

On Meet the Press yesterday, CIA Director John Brennan told host Chuck Todd that he was “puzzled” by people like Fmr. Sen. Bob Graham (D-Fl.)’s characterization of the “28 pages.” Brennan added that the pages contain both accurate and inaccurate information, much of it uncorroborated, and some deemed too “sensitive” by the 9/11 Commission to include in its official report. Brennan also said he was “worried” that the release of the pages could damage the US’ “very strong relationship” with Saudi Arabia. 

At the start of the interview, Brennan recalled standing outside the White House on the night of bin Laden’s killing in 2011, and hearing not only chants of “USA! USA!” but “CIA! CIA!”, a claim which Todd left unchallenged.

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Art vs. Junk: New at Reason

The Guggenheim in New York has a new exhibit, a solid gold, working toilet titled “Maurizio Cattelan: ‘America’.”

A. Barton Hinkle writes:

That is tiresomely predictable, and about as clever as Internet trolls referring to Barack Obama as “Obummer.” But like “Obummer,” it flatters the dogmas of its intended audience.

The political angle matters less than the aesthetic one, though. A gold toilet is to real art what a toy Yoda is to a new automobile. But there is a sad difference between these two cases: Everyone at Hooters knew the toy Yoda was not an actual car. Nobody pretended the stuffed doll and the Japanese automobile belonged to the same taxonomic or ontological category.

Too much contemporary art tries, with a great deal of seriousness and self-regard, to claim just that.

View this article.

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The Decline and Fall of Traditional Television

But couldn't they watch something more wholesome, like The Cosby Show?The decline of traditional television—by which I mean shows transmitted over “channels” to viewers who experience them simultaneously on “TV sets”—is proceeding at a remarkable rate. Symphony Advanced Media, an audience measurement company that tries to cover all the platforms people use to consume programming, claims that among young adults, Netflix shows are now more popular than network shows.

Variety reports:

The top four series of the fall TV season among U.S. viewers aged 18-24 were from Netflix, according to data from audience measurement firm Symphony Advanced Media, beating out premiering and returning series from the broadcast networks.

“Making a Murderer,” “Master of None,” “F Is for Family” and “Marvel’s Jessica Jones” were the top viewing choices for this coveted demographic, with Fox animated comedies “Bob Burgers” and “Family Guy” next on the list.

Netflix, which tries to hold its data close to the chest, has disputed Symphony’s statistics in the past; back in January, the streaming company’s chief content officer called an earlier set of Symphony stats “remarkably inaccurate.” While I’m in no position to judge who’s right about the precise numbers, it’s notable that no one seems to be disputing the general trend here. The networks know they need to be worried, even if they aren’t entirely sure just how bad their situation is this very month. They know this because it isn’t hard to see what direction we’re headed in.

When my parents first got cable TV, way back in the early ’80s, the technology itself seemed novel. My brother and I found it fun just to station one of us at the set-top box, turning the channel dial by hand—we had cable, but we had yet to acquire a remote—and checking out all the choices one by one. We weren’t even looking for a show to watch; we were soaking in the fact that we had several dozen options to choose from, not just CBS, NBC, ABC, PBS, and one or two UHF channels that aired preachers and old movies.

And then we got used to it. There are probably people born since then who are barely aware of the difference between a network show and a cable show, except to the extent that the latter is more likely to contain swearing.

Now the country is getting used to a world where you don’t actually need a television set to “watch television,” where the number of viewing options available makes even cable look limited, where you have nearly as much freedom to choose when and where you’ll watch a program as you do to choose when and where you’ll read a book, and where it’s increasingly easy to set up an online “channel” of your own. And the youngest viewers don’t even need to get used to this, because they grew up as this world was emerging. (My children—one of whom is now old enough to make fake movie trailers with her friends—were born into an America that already contained YouTube.)

If Symphony’s numbers are right, we’ve now passed a minor milestone: The youngest adults in America have planted their feet in the Streaming Era. But even if the numbers are wrong, that’s the era we’re moving toward today. It would take a rather cataclysmic event to avert it.

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This Is “Another Sign That Wall Street Doesn’t Believe The Rally” According To BofA

Over the past 15 weeks we have documented one of the more curious indicators hinting that at least the “smart money” (hedge funds, institutions and private clients) have refused to jump on board the market rally as a result of what is now a record 15 consecutive weeks of selling into the market rally as per Bank of America client data.

Now, according to the same Bank of America, there is “Another sign that Wall St doesn’t believe the rally.” This is what BofA equity and quant strategist Savita Subramanian has to say:

In April, the Sell Side Indicator — our measure of Wall Street’s bullishness on stocks — fell by 1ppt to 51.9, its lowest level in over a year. This was the indicator’s biggest one-month drop in the past two years, as the S&P 500 rallied 15% from the February lows through mid-April. This triggered a contrarian Buy signal in the model for the first time since January. While sentiment has improved significantly off of the 2012 bottom, today’s sentiment levels are still below where they were at the market lows of March 2009. Strategists are still recommending that investors significantly underweight equities, at 53% vs. a traditional long-term average benchmark weighting of 60-65%.

To be sure, since Bank of America makes far more money when the market rises, and when clients buy rather than sell stocks, this was the spin: “to BofA the pervasive bearishness is a “reliable contrarian indicator

The Sell Side Indicator is based on the average recommended equity allocation of Wall Street strategists as of the last business day of each month. We have found that Wall Street’s consensus equity allocation has been a reliable contrary indicator. In other words, it has historically been a bullish signal when Wall Street was extremely bearish, and vice versa.

Then again, now that everyone – even Goldman Sachs – agrees that the marginal, if not only, buyer of equities is corporate buybacks, shouldn’t BofA survey focus more on how much of their own stock corporate Treasurers plan on buying back, and just how “bullish” they are on their own equity-linked compensation, funded generously courtesy of yield-starved IG (and in some cases HY) investors, who don’t care what the “use of funds” is as long as they hit their bogey of outperforming Treasurys for the next few months until the 2016 bonus is paid.

As for whether the “extreme bearishness” this time is bullish for stocks or merely an indication of just how stretched central banks are in their attempt to prop up markets, buybacks and overall investor sentiment, we expect to have the answer in very short notice.

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“Nightmare” Mistake: Visa Free Travel For 80 Million Turks Coming Up

Submitted by Mike "Mish" Shedlock of MishTalk

“Nightmare” Mistake: Visa Free Travel For 80 Million Turks Coming Up

Of all the inane, self-serving, deals German Chancellor Angela Merkel made with Turkey, visa-free travel for 80 million Islamic Turks tops the list.

“This is all a nightmare,” said one diplomat charged with making the deal work.

Nightmares aside, Brussels Prepares Legal Groundwork on Visa-Free Travel for Turks.

Brussels will this week propose visa-free travel to Europe for 80m Turks but says Ankara still needs to meet several politically explosive reform conditions within weeks, including overhauling its terrorism laws and party funding rules.

 

The enhanced travel rights were Turkey’s main windfall from a landmark EU deal in March, in which Ankara helped dramatically cut migrant flows to Europe by agreeing to take back all migrants arriving on the Greek islands.

 

On Wednesday the European Commission will legally recommend Turks should be granted short-term visa-free travel to the Schengen area. But it will point out that up to nine of the 72 eligibility conditions required of Turkey remain incomplete, according to people familiar with the proposal.

 

The stage is now set for a stand-off before the June visa deadline, with far-reaching consequences for the migration crisis, domestic politics across Europe and Turkey’s long-term relations with the bloc. Decisions on visa rights for Ukraine, Georgia and Kosovo are set to be taken at the same time.

 

“This is all a nightmare,” said one diplomat involved in talks. Another European diplomat described the Turkey-EU deal as carrying “the seeds of its own destruction”.

 

It is a gamble some senior EU officials fear “is a big mistake” and will backfire. “This will be the perfect get-out for the Dutch, French and Germans, who are facing major domestic problems and  suffering from buyer’s remorse since the Turkey deal,” the official said. “And the European Parliament will just not accept a political fudge, the Turks won’t be able to ram it through.”

Appropriate Terms (in Order of Occurrence)

  • Windfall to Turkey
  • Short-Term
  • Stage Set for Standoff
  • Nightmare
  • Seeds of its Own Destruction
  • Big Mistake
  • Backfire
  • Political Fudge

Political fudge, seeds of its own destruction, and nightmare are my three favorite descriptions.

A strong argument can be made for “short-term” given the massive long-term problems should this deal actually go through.

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First Puerto Rico, Now Atlantic City? Mayor Holds Press Conference Ahead Of Looming Default – Live Feed

Just a day after Puerto Rico's governor pulled the default rip-cord, the clock is ticking for Atlantic City Mayor Don Guardian.

 

The city must decide today whether to pay a $1.8 million debt obligation, or be the first New Jersey municipality to default since the Great Depression.

According to the Press of Atlantic City, the city is expected to run out of money in a matter of weeks, and the short-term picture looks grim. Not only is a $1.8 million bond payment due today, but a $7 million payroll payment is set for Friday as well.

With the city sitting on $500 million in debt, and with budget deficits topping $100 million, default and perhaps bankruptcy looks imminent without a major bailout from the state.

New Jersey Governor Chris Christie had reportedly reached an agreement to take over Atlantic City's finances back in January in order to try and stem the fallout on New Jersey's tourism, and also the credit rating concerns that other municipalities would have to deal with in New Jersey, but the deal has fallen apart.

"I can't trust him. Steve and I thought we had a deal with an honorable guy. Now he wants me to call him? And say what exactly? You want a new deal? I try only to deal with honorable people." Christie was quoted as saying regarding the deal falling through.

If the city defaults and subsequently enters into bankruptcy, the plea for helicopter money may be too much for the Fed to ignore, as other cities will surely follow suit.

A press conference is set for 11am EST today which you can watch live here


Live streaming video by Ustream

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TTIP Leaked Documents Show Obama Demands Killing Paris Accord Against Climate Change

Authored by Eric Zuesse,

"248 pages of leaked Transatlantic Trade and Investment Partnership (TTIP) negotiating texts” show that the American negotiating position, as Greenpeace put the matter, allows "No place for climate protection in TTIP,” and, though "We have known that the EU position was bad, now we see the US position is even worse.”

Jorgo Riss, Director of Greenpeace EU, said, "The effects of TTIP would be initially subtle but ultimately devastating. It would lead to European laws being judged … disregarding environmental protection and public health concerns.”

A 70-year-old EU rule, which allows nations to restrict trade in order “to protect human, animal and plant life or health," or for "the conservation of exhaustible natural resources,” would end, if U.S. President Barack Obama gets what he wants.

Furthermore, the “Precautionary principle is forgotten”: it’s currently enshrined in the EU Treaty, but Obama wants it gone; it is stated in the EU Treaty as allowing "rapid response in the face of a possible danger to human, animal or plant health, or to protect the environment. In particular, where scientific data do not permit a complete evaluation of the risk, recourse to this principle may, for example, be used to stop distribution or order withdrawal from the market of products likely to be hazardous.” Obama wants there to be no ability for EU nations to withdraw from the market “products likely to be hazardous.” All products would be assumed safe, unless proven not to be.

Other TTIP developments in recent days:

Britain’s Independent headlined on April 29th, "TTIP could cause an NHS sell-off and UK Parliament would be powerless to stop it, says leading union”,  and reported that a labor union, “Unite,” was determined to block TTIP from going into effect in the UK: "Gail Cartmail, Unite assistant general secretary, said that it was 'a scandal' that MPs [Members of Parliament] may not have the democratic power to stop TTIP, which she said 'threatens the irreversible sell-off of our NHS [National Health Service]’.” Privatization of government assets is favorably viewed by Obama.

 

Tamara Hervey, a professor of EU law at the University of Sheffield, told the Independent, "The UK government could include a reservation in the agreement to say that it does not include the NHS. As far as I understand, that isn't on the table, even though several other EU countries have already put such reservations in the negotiating text.” British Prime Minister David Cameron, like Obama, is strongly in favor of privatization.

 

The Independent said, "Obama used a recent visit to the EU to push for the completion of TTIP, promising it would remove 'regulatory and bureaucratic irritants and blockages to trade’.” Now, we know that in his mind the EU’s existing regulations concerning environmental protection and product safety belong in that category: “bureaucratic irritants and blockages to trade.”

 

Britain’s Guardian banners on May 1st, “Leaked TTIP Documents Cast Doubt on EU-US Trade Deal”, and Arthur Nelson in Brussels, reports that, "Because of a European ban on animal testing, 'the EU and US approaches remain irreconcilable and EU market access problems will therefore remain’,” which is yet further indication of Obama’s free-market convictions: he doesn’t accept any ban on animal-testing of products. Presumably, he wants to allow corporations to determine what the cheapest way to determine a product’s safety or dangerousness is, regardless of whether the animal model that’s used tells anything reliable about the product’s safety on humans. If one nation’s testing procedure is less reliable than another’s, then Obama wants the two to compete as equals, so that the incentive will exist for all corporations to use the cheapest method, regardless of the method’s reliability, or even humaneness. Obama didn’t run for President as a libertarian, but he turns out to be remarkably libertarian in his policies. He’s pushing for a vigorous race to the bottom, in all sorts of regulations.

Polls show Obama to have extremely high approval-ratings in European countries, such as 62% in Germany (far higher than any German national politician). Polls also show TTIP to be extremely unpopular there. The contradiction apparently isn’t noticed by respondents — approval of a politician has no clear correlation with the politician’s policies. Obama is black, and he speaks well; and, perhaps that’s enough. Perhaps Europeans don’t really care very much about such things as global warming, product-safety, or humaneness toward animals. If that’s true, then EU Parliamentarians can likewise ignore such matters and simply vote to approve TTIP, notwithstanding the merely nominal opposition to it amongst the electorate. The percentage of voters who really care about such issues might actually be inconsequential. If that’s the situation, then corruption makes sense, because the money that a politician thereby obtains for his/her campaign will far outbalance the potential loss of voters’ support that results from violating their interests — only words will matter, a politician’s actual record won’t, in terms of the given politician’s support by voters. If that’s true, then the results of democracy might be no better than the results of dictatorship; there might be no real difference.

Certainly, the disabling of the Paris Agreement on Climate Change would have enormous impact; but, if a politician’s rhetoric has a bigger effect on his favorability-rating than his policies do, Obama might be highly regarded even when the planet is burning up as a consequence of his policies.

*  *  *

Investigative historian Eric Zuesse is the author, most recently, of  They’re Not Even Close: The Democratic vs. Republican Economic Records, 1910-2010, and of CHRIST’S VENTRILOQUISTS: The Event that Created Christianity.

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Homeland Security, L.A. Police Team Up to Arrest Compton Sex Workers

Girl rescued, 30 arrested in human trafficking operation, reads the headline. It’s the kind of headline that Americans have gotten used to seeing these days, and the kind that gives the impression of a coordinated, wide-reaching sex-trafficking ring busted. Another media outlet offered the even more lurid headline “Sex Slaves in Compton.” But press beyond the headline, and you’ll see that the “human traffickers” arrested were actually women selling sex themselves, along with men attempting to buy sex from an undercover police officer. Like most “human trafficking operations” these days, this was a vice sting dressed up in lofty and hysterical language. 

The sting, carried out as part of the Los Angeles Regional Human Trafficking Task Force, took place in Compton, an area where more than a quarter of residents are living in poverty, according to U.S. census data, and the violent crime rate—while down from its peak in the early ’90s—is still a hotbed of unsolved homicides

But the Los Angeles County Sheriff’s Department has priorities. Like the arrest of 17 men for talking to undercover deputies and 13 women for trying to make a living. And the impounding of 16 vehicles.

For this important “human trafficking” bust, local law enforcement officials were aided by the U.S. Department of Homeland Security (DHS). The same week, DHS helped Santa Barbara, California, arrest 14 (mostly young and Hispanic) men for attempting to purchase sexual services from people they thought were adult sex workers. 

For the record, Homeland Security’s stated mission is to “prevent terrorism… secure and manage our borders… enforce and administer our immigration laws… safeguard and secure cyberspace… and ensure resilience to disasters.” Which one of these does arresting vulnerable populations for consenting sexual relations fall under, again? 

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Obama’s DAPA Mess: New at Reason

Liberals will undoubtedly blame partisanship on the bench if the Supreme Court overrules DAPA, President Obama’sHispanics Love America executive order handing temporary legal status to some 11 million undocumented aliens. But they’ll be wrong.

This is not because the president did not have strong legal grounds for what he did. He, in fact, did. It is that he went about issuing his order in the most ham-handed fashion possible, notes Reason Foundation Senior Analyst Shikha Dalmia. Ths made it very difficult for his counsel, Solicitor General Verrilli, to mount an effective court defense recently. Verrilli was forced to explain political statements by the president that deflected from the legal argument. If Obama really wanted offer relief to beleaguered illegals rather than keep the issue alive for the November elections, he should have quitely issued guidance, rather than beat the drums with misgudied comments calculated to score political credit with Latinos.

View this article.

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“No End In Sight To Current Downturn” – US Manufacturing Plunges To Sept 2009 Lows

Following April's flash PMI print plunge to cycle lows – blamed on the presidential election uncertainty – Markit's Final Manufacturing PMI printed 50.8 (as expected) its lowest since September 2009. New orders weakened further as the rate of job creation tumbles to thre-year lows. ISM Manufacturing fell back from its oddly decoupled bounce to July 2015 highs to a coincidental 50.8 (missing expectations of 51.4). As Markit concludes, apparently peddling fiction, "the April PMI data suggest there’s no end in sight to the current downturn in manufacturing activity…raising question marks over whether GDP growth will improve on the near-stalling seen in the first three months of the year."

Manufacturing PMI Headline output and employment data are ugly…

 

And following ISM's recent bounce, notably opposing Markit's survey, ISM reported Manufacturing fell back perfectly in line with Markit's PMI…

 

Breakdown shows 4 componenst in contraction…

Notably, despite the drop, all respondents 'cherry picked' by ISM were positive.

Howver, commenting on the final PMI data, Chris Williamson, chief economist at Markit said:

“The April PMI data suggest there’s no end in sight to the current downturn in manufacturing activity. The survey indicates that factory output is dropping at an annualized rate of approximately 3%, and factory headcounts are being culled at a rate of around 10,000 per month.

 

“Destocking is also very much in evidence as companies often reported weaker than expected demand and exports are slumping at the fastest rate for one and a half years.

 

“Rather than reviving after a disappointingly weak first quarter, the data flow therefore appears to be worsening in the second quarter, raising question marks over whether GDP growth will improve on the near-stalling seen in the first three months of the year.”

Charts: Bloomberg

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