Alabama Set To Try New, Untested Execution Method


Kenneth Eugene Smith | Alabama Department of Corrections

Alabama wants to execute a man so badly that they’re likely to become the first state in the nation to kill someone by nitrogen hypoxia. 

Kenneth Eugene Smith, 58, who was sentenced to death for a 1988 murder-for-hire killing, has already survived one execution attempt from the state. Last November, he won a court case allowing him to demand to be executed specifically by nitrogen hypoxia, a method that has been approved in Alabama since 2018 but has remained untested.

Nonetheless, Alabama Attorney General Steve Marshall still asked the state Supreme Court to set an execution date for Smith last week, with plans to use the method.

While four states in addition to Alabama have approved execution by lethal gas, no one has been executed using this method since 1999. While 20th-century gas chambers typically killed inmates using cyanide gas, death by nitrogen hypoxia is a completely untested method. Under the proposed process, an inmate would be placed in a gas chamber, where they would be forced to breathe pure nitrogen, ultimately causing death by suffocation due to the lack of oxygen.

After long arguing that they should be allowed to kill Smith by lethal injection because the state had not yet developed a nitrogen hypoxia protocol, state officials unveiled a formal nitrogen hypoxia process in conjunction with their motion to set Smith’s execution date. Under the process, the inmate will wear a mask, which will force them to breathe pure nitrogen gas “for 15 minutes, or five minutes following a flatline indication on the EKG, whichever is longer,” resulting in death by suffocation.

Smith won the right to be executed by this method in a ruling from the U.S. Court of Appeals for the 11th Circuit last November. Smith argued that a lethal injection attempt would expose him to “an intolerable risk of torture, cruelty, or substantial pain,” citing the state’s previous botched executions.

The same day as the 11th Circuit’s ruling, the U.S. Supreme Court lifted a stay of execution for Smith. Alabama officials attempted to kill him by lethal injection that day, but they abandoned their attempt after they tried unsuccessfully for several hours to place IV needles in Smith’s arms.

While nitrogen hypoxia has been touted as a more humane method for killing death-row inmates—it’s simply unknown how much suffering death by nitrogen hypoxia causes.

“It’s not humane,” Joel Zivot, an associate professor of anesthesiology and surgery at Emory University, told the Montgomery Advertiser last year. “It’s not going to be euphoric. You know, it may be bloodless, but it won’t be simple.”

The post Alabama Set To Try New, Untested Execution Method appeared first on Reason.com.

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Markets JOLTed

Markets JOLTed

No-good, terrible, bad news about the US labor market (coupled with a tumble in consumer confidence and uptick in inflation expectations) sparked chaos across multiple asset-classes today.

US Macro data has disappointed for 8 straight days, its biggest serial disappointment since June 2022…

Source: Bloomberg

The bad news sent the market’s expectations for Fed rate changes dramatically (dovishly) lower, erasing all of the post-Powell hawkish shift…

Source: Bloomberg

Stocks were already lifting at the cash open, then ripped higher after the dismal jobs data with long-duration equities outperforming…

The decline in real yields supported a higher valuation for stocks…

Source: Bloomberg

The S&P 500, Nasdaq, and Dow all managed to close back above their 50DMAs…

‘Most Shorted’ stocks squeezed higher – the biggest surge in a month…

Source: Bloomberg

0-DTE traders faded the early gains (and covered) and then faded the rally in the S&P after Europe closed (and covered)…

Source: SpotGamma

NVDA did its thing, surging back above pre-earnings close highs (topping $490) before sliding back

 

Bonds were aggressively bid with the short-end outperforming…

Source: Bloomberg

2Y Yields tumbled back below 5.00%…

Source: Bloomberg

…and the yield curve (2s30s) steepened significantly…

Source: Bloomberg

The dollar puked today, its biggest daily drop since mid-July…

Source: Bloomberg

Bitcoin started to rally when the dollar fell and then exploded higher (topping $28,000) on the SEC loss in court…

Source: Bloomberg

Spot Gold spiked around 1%, its best day since mid-July, nearing $1940…

Source: Bloomberg

Oil prices rallied ahead of tonight’s API data, with WTI back above $81 (after finding intraday support around $80)…

Finally, we note the market has swiftly gone from fear to greed as VIX, VVIX, and Skews are all tumbling. VVIX (vol of vol) is is its lowest since March…

Source: Bloomberg

After all, what is there to worry about? As SpotGamma notes, from today until the end of next week, there are a few data points (jobs, ISM) but, (based on IV’s) they are fairly low risk. Added into this window is the Labor Day holiday (next Monday).

Entering into the week of 9/11, there are a litany of catalysts including: CPI, large Sep OPEX, VIX Exp & FOMC. This suggests to us vol may be under pressure another ~2 weeks, and then risks pick up.

While there is no particular reason to be bearish, we note that a strong rally into OPEX/VIX Exp would certainly clear up the downside “padding” that we’ve been enjoying (and discussing) over the last few weeks. This could make downside into end of September/October “more available”.

Tyler Durden
Tue, 08/29/2023 – 16:00

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Parent Slams California School For Holding ‘No Whites Allowed’ Kids Playdate

Parent Slams California School For Holding ‘No Whites Allowed’ Kids Playdate

Authored by Steve Watson via Summit News,

A parent at a California elementary school has slammed officials for sanctioning a playdate for kids that essentially segregated them by race, and excluded white children.

A flyer for the event at Anthony Chabot Elementary School in Oakland, CA notes that it is “for black, brown and API families.”

“If your family identifies as Black, Brown, or API or are [sic] a parent/caregiver of a Black, Brown, or API student. Come hang out while we get a chance to know each other and build our community as we kick off this schoolyear [sic],” reads the invite to the event.

Ironically it was hosted by the school ‘equity & inclusion committee’.

Taking to social media, the parent noted “I dunno about others, but I’m genuinely upset about what ultimately boils down to a “No whites allowed” playdate.”

“We’ll look back and cringe so hard that we tried to beat racism by segregating kids of color from white kids,” the parent added.

“How is this productive? Why are we continuing to segregate people, let alone KIDS,” the parent also noted.

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Tyler Durden
Tue, 08/29/2023 – 15:40

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Kim Jong Un Says His Navy To Soon Be Equipped With Nuclear Weapons

Kim Jong Un Says His Navy To Soon Be Equipped With Nuclear Weapons

Amid the continuing standoff with Washington, which has included the US and South Korea conducting regular joint military drills (and the US parking a nuclear-armed submarine off S.Korea to boot), North Korea says its giving its navy nuclear deterrent capabilities. 

Kim Jong-Un says he is authorizing the navy “expanded use of tactical nuclear weapons”. The alarming words, meant as a warning to Washington and Seoul, came during his visit to the country’s naval command headquarters.

“From now on, KPA’s Navy will become a part of the national nuclear deterrence force, tasked with strategic missions,” he said, according to KCNA.

He explained that the Korean Navy has remained “on full readiness for war” and could “destroy the target, designated by the Central Committee when the time comes.”

He also specified that all armed forces branches will soon “receive new equipment” in accordance with the “policy of expanded use of tactical nuclear weapons.”

“War is not only a standoff between vehicles and equipment, it is also a standoff between ideas, ideals and morals,” he added.

Kim further emphasized that “the secret of rapid development of the Navy’s combat capabilities lies in a strong promotion of upgrade of equipment” and in staging drills in a “practical combat situation.”

Kim Jong Un brought his daughter to stand by his side to mark the country’s “Navy day”…

KCNA via KNS

In the past two months, nuclear rhetoric on the peninsula has been soaring, especially in the wake of the Ohio-Class USS Kentucky having docked in the South Korean port of Busan as of July, which marked the first time since 1981 that an American nuclear-armed submarine arrived in the country.

Tyler Durden
Tue, 08/29/2023 – 15:20

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Taibbi: YouTube Demonetizes Montage Of Election-Denying Dems Under “Dangerous Organizations” Policy

Taibbi: YouTube Demonetizes Montage Of Election-Denying Dems Under “Dangerous Organizations” Policy

Authored by Matt Taibbi via Racket News,

When you know you’re being censored, you can protest. But what to do about silent editorial punishment, dished without announcement, by tech platforms that appear to be learning fast how to avoid public outcry?

A year ago, this site had to throw a public fit to resolve a preposterous controversy involving videographer Matt Orfalea and YouTube. The issue centered around the above video, “‘Rigged’ Election Claims, Trump 2020 vs. Clinton 2016,” which despite total factual accuracy was cited under its “Elections Misinformation” policy. YouTube in July of last year demonetized Orf’s entire channel over his content, saying “we think it violates our violent criminal organizations policy.”

As you will see if you click now, the above video, as I argued to Google, could not possibly be violative of any “misinformation” guideline, as it was comprised entirely of “real, un-altered clips of public figures making public comments.” After both Orf and I tantrumed in public — there’s not much else to do in these situations — YouTube sent Matt the “Great News!” that “after manually reviewing your video, we’ve determined that it is suitable for all advertisers”:

We thought the matter was settled.

This week, Orf discovered the video had been re-classified as problematic by a new “human reviewer,” who declared it in violation for “harmful or dangerous acts” that “may endanger participants.” Potential problems, the reviewer determined, included “glorification, recruitment, or graphic portrayal of dangerous organizations,” by which I can only presume they mean former Bernie voters like Orf and myself whose political homelessness apparently constitutes a threat.

I’ve once again sent complaints up the Google/YouTube flagpole. Perhaps Racket readers are tired of digital censorship tales. If so, I understand, I do. I want to underscore that the chief reason now for sharing incidents like this is to show the rapid progression of tactics being used not just against this site, or Orf, but everyone.

In the last 6-8 months — hell, the last 2-3 months — the landscape for non-corporate media businesses has tightened dramatically. Independent media content is increasingly hard to find via platform searches, even when exact terminology, bylines, or dates are entered by users. Social media platforms that once provided effective marketing and distribution at little to no cost are now difficult to navigate even with the aid of paid boosting tools. In other words, even if your business does well enough to pay full retail rates for marketing, a widening lattice of algorithmic restriction across platforms is making distribution for non-corporate media a nightmare anyway.

It’s an unfortunate coincidence that this situation involving Orf arrives as Racket is preparing a story about new techniques being deployed in recent months to reclassify even non-violative true content as misinformation. Like this affair, that coming story touches on a phenomenon we saw repeatedly in the Twitter Files, but didn’t delve into in detail then: the use of deamplification and “visibility filtering” as PR-friendly alternatives to outright bans.

This episode with Orf represents a crack in the system, where the user isn’t formally notified of a demonetization or deamplification decision, but somehow learns of it anyway. How often is it happening when users don’t find out? Also, are these tools being used pre-emptively, for certain topics? There are so many things we need to learn still, about how access to information is being controlled.

Until then, will YouTube do the right thing and fix this particular idiocy? Even for your company, this shouldn’t be a hard call.

If the video above somehow meets your definition of “harmful or dangerous acts,” you’ve gone crazy, in addition to rendering both of those terms totally meaningless. If you believe otherwise, could you at least explain your thinking, so the public can evaluate it?

Sincerely, the editor, etc.

Tyler Durden
Tue, 08/29/2023 – 15:00

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Americans Abandon Home Insurance: An Ominous Sign In Era Of ‘Bidenomics’

Americans Abandon Home Insurance: An Ominous Sign In Era Of ‘Bidenomics’

In yet another ominous sign, consumers are being pushed to the financial brink, leading some to abandon homeowner insurance due to soaring premiums. Without this coverage, homeowners are left vulnerable to fires, burst pipes, theft, vandalism, and windstorms.

“Some skipping insurance say they are doing so because they can no longer afford the rising premiums,” said The Wall Street Journal. New Bankrate data shows insurance on a $250,000 home jumped to $1,428 annually, up 20% from 2022. That’s about a $119 monthly payment. 

Amy Bach, executive director at United Policyholders, a national nonprofit insurance consumer-advocacy group, said an increasing number of homeowners in the past several years who have no mortgage or inherited a home are abandoning insurance because they can’t afford it. 

“It is a risky proposition to go without home insurance, and you need to fully understand the financial consequences if you lose your home,” said Noah Damsky, a financial adviser in Los Angeles.

WSJ spoke with Larry Farinholt, who owns a 1,100-square-foot home in the Los Angeles metro area and last had home insurance a quarter century ago. He estimates a $50,000 savings, though if anything happened, such as a fire, he would be devastated:

“It would probably be financially devastating if I lost my house.” 

The good news, unlike a majority of Americans who live paycheck to paycheck, Farinholt said if disaster struck, he would be able to afford a condo due to his savings.

According to a 2023 survey by the Insurance Information Institute, an industry trade group, and the reinsurer Munich Re, about 12% of US homeowners don’t have homeowners insurance — and half of them have household incomes under $40,000 per year. 

Some borrowers cannot service their mortgage debts, blaming late or missed payments on rising insurance premiums, Rick Sharga, founder and CEO of CJ Patrick, a real-estate consulting firm, said. 

Meanwhile, insurance companies have said premiums are rising because of inflation: 

“The cost to insure new home customers in California is far higher than the price they would pay for policies due to wildfires, higher costs for repairing homes, and higher reinsurance premiums,” said a recent statement from Allstate explaining its decision to stop writing new policies. 

Matthew Carletti, an insurance industry analyst for JMP Securities, said the rebuilding and replacement home costs have surged between 2019 and 2022. 

Similar surges have been seen in auto insurance, citing the same reasons: rising part and labor costs. 

Homes and automobiles are becoming even more unaffordable for the working poor, forcing some into a dystopic lifestyle where they own nothing. 

And according to WEF, they’ll be happy… 

Tyler Durden
Tue, 08/29/2023 – 14:40

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Almost 70% Of Democrats Say Biden Too Old To Run Again; New AP Poll Finds

Almost 70% Of Democrats Say Biden Too Old To Run Again; New AP Poll Finds

Authored by Steve Watson via Summit News,

A new Associated Press/NORC poll has found that an overwhelming majority of Americans believe Joe Biden to be too old to run for a second term as president, with a huge amount of Democrats concurring.

In total 77 percent of Americans say Biden is too old to carry out a second term. Unsurprisingly, 89 percent of Republicans feel this way, yet the poll also found that 69 percent of Democrats agree.

The poll found that fewer than half of Americans said former President Trump is too old to hold office.

The poll also included a word association section asking respondents to say the first word or phrase that comes to mind for Biden.

A total of 28% of Democrats mentioned some variation of “old,” “outdated,” “retire,” “elderly,” “aging,” “senile” and “dementia”.

Most Democrats said they leaned more toward terms higlighting Biden’s age over “president,” “leader,” “strong” or “capable.”

A further 15% of respondents on the whole associated Biden with the words “slow,” “confused,” “idiot,” “ignorant,” “sleepy,” “gaffe” and “bumbling,” according to the poll, while only 1% of respondents responded that Biden was “smart,” “wise” or “knowledgeable.”

Hilariously, the AP notes that one Republican said “potato,” as the first word that came to mind for Biden.

Biden’s age, health and mental wellbeing were once again in focus Monday:

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Tyler Durden
Tue, 08/29/2023 – 14:20

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NYC’s Crumbling Infrastructure On Full Display As Century-Old Water Line Floods Times Square

NYC’s Crumbling Infrastructure On Full Display As Century-Old Water Line Floods Times Square

New York City Mayor Eric Adams is dealing with yet another problem: A century-old water pipe broke early Tuesday, flooding midtown streets and the city’s busiest subway station.

Rohit Aggarwala, commissioner of NYC’s Department of Environmental Protection, told AP News the 20-inch water line erupted around 0300 ET under 40th Street and Seventh Avenue. The pipe was installed 127 years ago. Videos uploaded on X, formerly known as Twitter, show water flooding into the Times Square subway station.

Aggarwala said DEP crews found the leak about an hour after the break and were able to stop the flow. Crews are working on 40th Street and Seventh Avenue to fix the century-old pipe. The disruption has led to a suspension in subway service in much of Manhattan, including on the 1, 2, and 3 lines, which run underneath the construction area.

This water main break draws more attention to the financial capital of the world’s aging infrastructure, such as bridges, roads, and sidewalks.

Besides crumbling infrastructure, NYC finds itself in a migrant crisis, surging violent crime, and a commercial real estate downturn in office towers that might unleash a doom loop threatening to impede the local economy, erode municipal tax inflows, and stifle an economy recovery.

Tyler Durden
Tue, 08/29/2023 – 14:00

via ZeroHedge News https://ift.tt/APF0aOV Tyler Durden

Two Elephants In The ‘Climate Change CO2 Production’ Room

Two Elephants In The ‘Climate Change CO2 Production’ Room

Authored by Mike Shedlock via MishTalk.com,

Noah Smith has a question: What about per capita emissions? I have answers.

Our World in Data, Per Capita and Annual CO2 Emissions

bUT wHAT aBOut per cApITA

Per capita emissions in the US are the worlds highest, but they are also crashing. China per capita emissions are rising fast.

And check out India. It has passed China as the world’s most populous country. Where is that headed?

Per Capita and Annual Emissions by Country and the World

Our World in Data, Per Capita and Annual CO2 Emissions

World per capita CO2 emissions have stabilized largely because of the US and EU. Total emissions are another matter.

The world population is increasing so there is a continued increase in carbon production.

Improving Standards of Living

For global standards of living to improve, there will need to be more energy production.

US standards of living rose by increasing fossil fuel production. The US and EU are now telling the world, that’s a no-no.

Instead of using cheaper natural gas or coal, we tell developing countries they can’t. Europe has carbon border taxes to prevent it.

CBAM Tax the Poor

On December 22, 2022 I commented EU Imposes the World’s Largest Carbon Tax Scheme, Inflationary Madness Sets In

Spotlight Africa

Let’s tune into a Tweet Thread by Faten Aggad Senior Advisor Climate Diplomacy @AfricanClimateF.

The only effect CBAM would have is a resource shift whereby clean energy capacity in already under-resourced countries will be shifted for export production while industry aimed at local consumption and energy access will depend on dirty fuels.

Another Twitter Question

A Word about China and Solar Panels

The Cost of Soup and Solar Panels is About to Increase, Thank President Biden

For more discussion, please see The Cost of Soup and Solar Panels is About to Increase, Thank President Biden

Climate Stupidity Canadian Style

Please consider Climate Stupidity Canadian Style

Canadian Prime Minister Justin Trudeau doubles down on carbon taxes, hammering Canadian farms and raising prices for everyone.

Trudeau proposes Canada carbon taxes to be as high or higher than any place else in the world in order to prevent carbon leakage.

This is despite the fact that Canada’s own studies suggest a negative benefit to the economy.

Canada’s 2030 Emissions Reduction Plan Fiscal and Economic Impact

Fiscal and Economic Impact

Our estimate of the economic impact captures the loss in employment and investment income that would result from the federal fuel charge.

Differential impacts on the returns to capital and wages, combined with differences in the distribution of employment and investment income drive the variation in household net costs across provinces. When the economic impact is combined with the fiscal impact, the net cost increases for all households, reflecting the overall negative economic impact of the federal fuel charge

Let’s sum it up this way. You gain $699 in Saskatchewan. Unfortunately, you lose your job.

And for what? If Canada stopped all carbon emissions tomorrow it would not even register, except for the Canadian economy which would crash.

China Abandons Clean Energy Goals Making U.S. Efforts Painful and Pointless

Also note, China Abandons Clean Energy Goals Making U.S. Efforts Painful and Pointless

Heritage Foundation:

It was a bad week for anyone who thought China would cooperate on emissions reduction. President Xi Jinping reiterated that his country would set its own path on the issue and not be influenced by outside factors, according to the Washington Post and Bloomberg. This contradicts Xi’s 2015 Paris Agreement pledges to reduce its carbon emissions at the latest after 2030.

This should not be news, because Xi gave the same message last fall. In October 2022, he said that China would not abandon coal-fired power plants before renewables could substitute for the lost fossil fuel.

Hooray for China?!

China leads the world in EV production. It is using more coal-fired plants to do so.

Cost is one thing now, it’s another inflationary kettle of smelly fish when the need for batteries skyrockets. No one has ever scaled EVs to estimate the mining costs and infrastructure costs if everyone did the same thing.

Electric Vehicles for Everyone?

On July 19, I asked Electric Vehicles for Everyone? If the Dream Was Met, Would it Help the Environment?

My follow-up post was What Do MishTalk Readers Think About “Electric Vehicles for Everyone?”

Math Does Not Add Up

The EV math does not add up in the EU or here. But here we go anyway.

The Shocking Truth About Biden’s Proposed Energy Fuel Standards

In case you missed it, please consider The Shocking Truth About Biden’s Proposed Energy Fuel Standards

The National Highway Traffic Safety Administration NHTSA did an impact assessment of 4 fuel standard proposals and compared them to the cost of doing nothing. Guess what.

The NHTSA conclude: Net benefits [of stricter mile standards] for passenger cars remain negative across alternatives” vs doing nothing at all.

See the above link for details and charts.

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Tyler Durden
Tue, 08/29/2023 – 13:40

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Stellar 7Y Auction Sees Blowout Foreign Demand As Yields Tumble

Stellar 7Y Auction Sees Blowout Foreign Demand As Yields Tumble

If there was any concern that today’s post-JOLTS yield plunge would lead to reduced demand for today’s closely watched belly-of-the-curve auction, they evaporated moments ago when demand for 7Y paper was almost off the charts.

Pricing at a high yield of 4.212%, today’s sale of $36BN in 7Y notes priced at the highest yield on record, and about 13bps above the July auction which stopped at 4.087%. And despite concerns that a lack of concession could lead to lower demand, the auction stopped through the 4.232% When Issued by 2bps, the widest stop through since January, with just one tail in the past 4 auctions.

The bid to cover was a solid 2.66, the highest since Jan 2023 and another indication of the solid demand for today’s sale.

But the clearest signal that buyers just couldn’t get enough came from the Indirect bidders who took down 75.25%, well above the six-auction average of 68.4% and one of the highest foreign awards on record. And with Directs taking down 15.0%, the lowest since Oct 2020, Dealers were left holding on to 9.8%, also well below the recent average of 12.8%.

Overall, this was a stellar belly-buster of an auction, and one which helped send 10Y yields down to new session lows at 4.11% from 4.24% earlier.

 

Tyler Durden
Tue, 08/29/2023 – 13:30

via ZeroHedge News https://ift.tt/6eyIl8f Tyler Durden