Two Can Play This Game

Florida Governor DeSantis Sends Two Planeloads Of Illegal Immigrants To Martha’s Vineyard

BY TYLER DURDEN
FRIDAY, SEP 16, 2022 – 02:45 AM

Florida Governor Ron DeSantis promised he would send illegal immigrants to progressive “sanctuary cities” earlier this summer – and now, according to Fox News, he’s fulfilling that promise.

DeSantis shipped two planes full of migrants to Martha’s Vineyard on Wednesday this week, according to Fox News, who posted video of the migrants getting off of planes at Martha’s Vineyard Airport in Massachusetts.

A statement from the Governor’s office confirmed the move: “Yes, Florida can confirm the two planes with illegal immigrants that arrived in Martha’s Vineyard today were part of the state’s relocation program to transport illegal immigrants to sanctuary destinations.”

A spokeswoman for DeSantis continued: “States like Massachusetts, New York and California will better facilitate the care of these individuals who they have invited into our country by incentivizing illegal immigration through their designation as ‘sanctuary states’ and support for the Biden administration’s open border policies.”

“As you may know, in this past legislative session the Florida legislature appropriated $12 million to implement a program to facilitate the transport of illegal immigrants from this state consistent with federal law.”

DeSantis isn’t just set on Martha’s Vineyard, however, stating this week that migrants could also be sent “to other ‘progressive’ states whose governors endorse blatant violations of federal immigration law.”

“It is not the responsibility of Floridians to subsidize aliens to reside in our state unlawfully; we did not consent to Biden’s open-borders agenda,” he said.

Massachusetts Gov. Charlie Baker said the migrants were being provided with “short-term shelter”. His spokesperson said: “The Baker-Polito Administration is in touch with local officials regarding the arrival of migrants in Martha’s Vineyard. At this time, short-term shelter services are being provided by local officials, and the Administration will continue to support those efforts.”

Wait until a couple more plane-loads arrive – how soon until President Obama’s favorite playground starts to look like San Francisco?

from:    https://www.zerohedge.com/markets/florida-governor-desantis-sends-two-planeloads-illegal-immigrants-marthas-vineyard?utm_source=&utm_medium=email&utm_campaign=930

Well, This Makes Me Feel Comfortable

FACEBOOK ENGINEERS: WE HAVE NO IDEA WHERE WE KEEP ALL YOUR PERSONAL DATA

In a discovery hearing, two veteran Facebook engineers told the court that the company doesn’t keep track of all your personal data.

IN MARCH, two veteran Facebook engineers found themselves grilled about the company’s sprawling data collection operations in a hearing for the ongoing lawsuit over the mishandling of private user information stemming from the Cambridge Analytica scandal.

The hearing, a transcript of which was recently unsealed, was aimed at resolving one crucial issue: What information, precisely, does Facebook store about us, and where is it? The engineers’ response will come as little relief to those concerned with the company’s stewardship of billions of digitized lives: They don’t know.

The admissions occurred during a hearing with special master Daniel Garrie, a court-appointed subject-matter expert tasked with resolving a disclosure impasse. Garrie was attempting to get the company to provide an exhaustive, definitive accounting of where personal data might be stored in some 55 Facebook subsystems. Both veteran Facebook engineers, with according to LinkedIn two decades of experience between them, struggled to even venture what may be stored in Facebook’s subsystems. “I’m just trying to understand at the most basic level from this list what we’re looking at,” Garrie asked.

“I don’t believe there’s a single person that exists who could answer that question,” replied Eugene Zarashaw, a Facebook engineering director. “It would take a significant team effort to even be able to answer that question.”

When asked about how Facebook might track down every bit of data associated with a given user account, Zarashaw was stumped again: “It would take multiple teams on the ad side to track down exactly the — where the data flows. I would be surprised if there’s even a single person that can answer that narrow question conclusively.”

In an emailed statement that did not directly address the remarks from the hearing, Meta spokesperson Dina El-Kassaby told The Intercept that a single engineer’s inability to know where all user data was stored came as no surprise. She said Meta worked to guard users’ data, adding, “We have made — and continue making — significant investments to meet our privacy commitments and obligations, including extensive data controls.”

THE DISPUTE OVER where Facebook stores data arose when, as part of the litigation, now in its fourth year, the court ordered Facebook to turn over information it had collected about the suit’s plaintiffs. The company complied but provided data consisting mostly of material that any user could obtain through the company’s publicly accessible “Download Your Information” tool.

Facebook contended that any data not included in this set was outside the scope of the lawsuit, ignoring the vast quantities of information the company generates through inferences, outside partnerships, and other nonpublic analysis of our habits — parts of the social media site’s inner workings that are obscure to consumers. Briefly, what we think of as “Facebook” is in fact a composite of specialized programs that work together when we upload videos, share photos, or get targeted with advertising. The social network wanted to keep data storage in those nonconsumer parts of Facebook out of court.

In 2020, the judge disagreed with the company’s contention, ruling that Facebook’s initial disclosure had indeed been too sparse and that the company must reveal data obtained through its oceanic ability to surveil people across the internet and make monetizable predictions about their next moves.

Facebook’s stonewalling has been revealing on its own, providing variations on the same theme: It has amassed so much data on so many billions of people and organized it so confusingly that full transparency is impossible on a technical level. In the March 2022 hearing, Zarashaw and Steven Elia, a software engineering manager, described Facebook as a data-processing apparatus so complex that it defies understanding from within. The hearing amounted to two high-ranking engineers at one of the most powerful and resource-flush engineering outfits in history describing their product as an unknowable machine.

The special master at times seemed in disbelief, as when he questioned the engineers over whether any documentation existed for a particular Facebook subsystem. “Someone must have a diagram that says this is where this data is stored,” he said, according to the transcript. Zarashaw responded: “We have a somewhat strange engineering culture compared to most where we don’t generate a lot of artifacts during the engineering process. Effectively the code is its own design document often.” He quickly added, “For what it’s worth, this is terrifying to me when I first joined as well.”

THE REMARKS IN the hearing echo those found in an internal document leaked to Motherboard earlier this year detailing how the internal engineering dysfunction at Meta, which owns Facebook and Instagram, makes compliance with data privacy laws an impossibility. “We do not have an adequate level of control and explainability over how our systems use data, and thus we can’t confidently make controlled policy changes or external commitments such as ‘we will not use X data for Y purpose,’” the 2021 document read.

The fundamental problem, according to the engineers in the hearing, is that Facebook’s sprawl has made it impossible to know what it consists of anymore; the company never bothered to cultivate institutional knowledge of how each of these component systems works, what they do, or who’s using them. There is no documentation of what happens to your data once it’s uploaded, because that’s just never been something the company does, the two explained. “It is rare for there to exist artifacts and diagrams on how those systems are then used and what data actually flows through them,” explained Zarashaw.

“It is rare for there to exist artifacts and diagrams on how those systems are then used and what data actually flows through them.”

Facebook’s inability to comprehend its own functioning took the hearing up to the edge of the metaphysical. At one point, the court-appointed special master noted that the “Download Your Information” file provided to the suit’s plaintiffs must not have included everything the company had stored on those individuals because it appears to have no idea what it truly stores on anyone. Can it be that Facebook’s designated tool for comprehensively downloading your information might not actually download all your information? This, again, is outside the boundaries of knowledge.

“The solution to this is unfortunately exactly the work that was done to create the DYI file itself,” noted Zarashaw. “And the thing I struggle with here is in order to find gaps in what may not be in DYI file, you would by definition need to do even more work than was done to generate the DYI files in the first place.”

The systemic fogginess of Facebook’s data storage made answering even the most basic question futile. At another point, the special master asked how one could find out which systems actually contain user data that was created through machine inference.

“I don’t know,” answered Zarashaw. “It’s a rather difficult conundrum.”

Update: September 7, 2022, 9:56 p.m. ET
This story has been updated to include a statement from Meta sent after publication.

from:    https://theintercept.com/2022/09/07/facebook-personal-data-no-accountability/

Well, The People Do Not Really Matter

German Green Party Politician Supports Ukraine War Instead German People Who Are at Risk of Freezing to Death

Annalena Baerbock, Wiki
German Foreign Minister and Green Party member Annalena Baerbock promised that she would stand with Ukraine “as long as you need us” and explicitly said that she would be supportive of Ukraine “no matter what my German voters think,” even as Germans face freezing to death in winter due to energy shortages. She said that the sanctions against Russia over the war in Ukraine will remain instead of demanding a diplomatic resolution between Russia and Ukraine.Journalist Alex Christoforou said that EU leaders, including Joseph Borrell, the foreign minister of the EU, Jens Stoltenberg of NATO, UK Prime Minister Liz Truss, Boris Johnson and French President Macron promote sacrifice by the European people in order to continue the war in Ukraine. The Green Party in Europe is pro-war and is following the neo-liberal model that also supports the corporate takeover of government. Christoforou said that Ukraine has been used for years for money laundering and wealthy elites are upset with Russian President Putin for disrupting their game.

from:    https://needtoknow.news/2022/09/german-green-party-politician-supports-ukraine-war-instead-german-people-at-risk-of-freezing-to-death/?utm_source=rss&utm_medium=rss&utm_campaign=german-green-party-politician-supports-ukraine-war-instead-german-people-at-risk-of-freezing-to-death

Who Is Censoring You?

al Collusion Between Government and Big Tech Exposed

Analysis by Dr. Joseph MercolaFact Checked
government and big tech collusion

STORY AT-A-GLANCE

  • Federal officials in the Biden administration have held secret and illegal censorship meetings with social media companies to suppress Americans’ First Amendment rights to free speech, and to ban or deplatform those who share unauthorized views about COVID and vaccines
  • The evidence for this comes out of a lawsuit brought by the New Civil Liberties Alliance and the attorneys general of Missouri and Louisiana (Eric Schmitt and Jeff Landry) against President Biden, filed in May 2022
  • Monthly, a Unified Strategies Group (USG) meeting took place — and may still be taking place — between a wide variety of government agencies and Big Tech companies, during which topics to be censored and suppressed were/are discussed
  • Censored topics included stories involving COVID jab refusal, especially those involving military refusals and consequences thereof, criticism against COVID restrictions and their effects on mental health, posts talking about testing positive for COVID after getting the jab, personal stories of COVID jab side effects, including menstrual irregularities, and worries about vaccine passports becoming mandatory
  • Discovery documents obtained so far have identified more than 50 federal employees across 15 federal agencies, engaged in illegal censorship activities. Emails from the strategic communications and marketing firm Reingold also reveals outside consultants were hired to manage the government’s collusion with social media to violate Americans’ Constitutional free speech rights

In a September 1, 2022, article,1 the Post Millennial reveals how federal officials in the Biden administration have held secret censorship meetings with social media companies to suppress Americans’ First Amendment rights to free speech, and to ban or deplatform those who share unauthorized views about COVID and vaccines.

The evidence for this comes out of a lawsuit2 brought by the New Civil Liberties Alliance and the attorneys general of Missouri and Louisiana (Eric Schmitt and Jeff Landry) against President Biden, filed in May 2022.

During the discovery process, the plaintiffs sought to identify “all meetings with any social media platform relating to content modulation and/or misinformation,” which is how we now know that such illegal meetings did, in fact, take place.

Illegal Collusion to Suppress Free Speech

Monthly, a Unified Strategies Group (USG) meeting took place — and may still be taking place — between a wide variety of government agencies and Big Tech companies, during which topics to be censored and suppressed were/are discussed.

Censored topics included stories involving COVID jab refusal, especially those involving military refusals and consequences thereof, criticism against COVID restrictions and their effects on mental health, posts talking about testing positive for COVID after getting the jab, personal stories of COVID jab side effects, including menstrual irregularities, and worries about vaccine passports becoming mandatory.3 According to the New Civil Liberties Alliance:4

“… scores of federal officials … have secretly communicated with social-media platforms to censor and suppress private speech federal officials disfavor. This unlawful enterprise has been wildly successful.

Under the First Amendment, the federal government may not police private speech nor pick winners and losers in the marketplace of ideas. But that is precisely what the government has done — and is still doing — on a massive scale not previously divulged.

Multiple agencies’ communications demonstrate that the federal government has exerted tremendous pressure on social-media companies — pressure to which companies have repeatedly bowed …

Communications show these federal officials are fully aware that the pressure they exert is an effective and necessary way to induce social-media platforms to increase censorship. The head of the Cybersecurity and Infrastructure Security Agency even griped about the need to overcome social-media companies’ ‘hesitation’ to work with the government …

This unlawful government interference violates the fundamental right of free speech for all Americans, whether or not they are on social media. More discovery is needed to uncover the full extent of this regime — i.e., the identities of other White House and agency officials involved and the nature and content of their communications with social-media companies.”

Jenin Younes, litigation counsel for the New Civil Liberties Alliance added:5

“If there was ever any doubt the federal government was behind censorship of Americans who dared to dissent from official COVID messaging, that doubt has been erased. The shocking extent of the government’s involvement in silencing Americans, through coercing social-media companies, has now been revealed …”

Federal Agencies Involved in Free Speech Suppression

Documents obtained so far have identified more than 50 federal employees across 15 federal agencies, who participated in these censorship meetings or otherwise engaged in illegal censorship activities.6 This includes officials from:

The Cybersecurity and Infrastructure Security Agency’s (CISA) Election Security and Resilience team
Department of Homeland Security’s (DHS) Office of Intelligence and Analysis
The FBI’s foreign influence taskforce
The Justice Department’s (DOJ) national security division
The Office of the Director of National Intelligence
White House staff (including White House lawyer Dana Remus, deputy assistant to the president Rob Flaherty and former White House senior COVID-19 adviser Andy Slavitt)
Health and Human Services (HHS)
Centers for Disease Control and Prevention (CDC)
National Institutes of Allergy and Infectious Diseases (NIAID)
The Office of the Surgeon General
The Census Bureau
The Food and Drug Administration (FDA)
The State Department
The U.S. Treasury Department
The U.S. Election Assistance Commission

Emails from a strategic communications and marketing firm called Reingold7 also reveals that outside consultants were hired to manage the government’s collusion with social media to censor Americans. For example, Reingold set up a “partner support portal” for the CDC so that CDC officials could link emails to the portal for easier flagging of content it wanted censored by social media companies linked to the portal.

Big Tech Companies Involved in Government Censorship

On the private industry side, notable tech participants in the censorship meetings include:

Google Facebook
Twitter YouTube
Reddit Microsoft
Verizon Media Pinterest
LinkedIn Wikimedia Foundation

While some social media companies may have “hesitated” to censor on the government’s behalf at times, Facebook was certainly an eager beaver from the get-go. As early as February 2020, Facebook CEO Mark Zuckerberg was in contact with the State Department, offering its services to help “control information and misinformation related to coronavirus.”8

Biden Administration’s ‘Executive Privilege’ Denied

As you might expect, the White House has not cooperated with discovery and have fought to keep communications secret — especially with regard to Dr. Anthony Fauci’s correspondence — claiming all White House communications as “privileged.”

However, executive privilege does NOT apply to external communications, so the plaintiffs called on the U.S. District Court for the Western District of Louisiana to “overrule the government defendants’ objections and order them to supply this highly relevant, responsive and probative information immediately.”

September 7, 2022, Judge Terry Doughty did just that. The Biden administration’s claim of executive privilege was rejected and Doughty ordered the White House to hand over any and all relevant records.9 That includes correspondence to and from Fauci, White House press secretary Karine Jean-Pierre and many others. According to the judge’s order, they have three weeks to comply.

Examples of Illegal Government Censorship

On Twitter,10 Missouri AG Schmitt has shared a long list of examples of government censorship, including one document in which Clarke Humphrey, COVID-19 response digital director at the White House, asked Facebook to take down the Instagram account “anthonyfauciofficial,” a parody account dedicated to making fun of Fauci.11 Facebook complied.

Schmitt also shared emails12,13 between a senior Facebook official and the surgeon general, stating, “I know our teams met today to better understand the scope of what the White House expects from us on misinformation going forward.” This email came on the heels of the surgeon general’s July 2021 “misinformation health advisory.”

The CDC also coordinated with Facebook, providing them with talking points to debunk various claims, including the claim that spike protein in the COVID shots is dangerous and cytotoxic. In a July 28, 2021, email, a CDC official provided Facebook with the following counter-narrative, taken straight from the “How mRNA Vaccines Work” section on the CDC website:14

“Messenger mRNA [sic] vaccines work by teaching our cells to create a harmless spike protein …” (Emphasis in the original.)

Fast-forward to mid-June 2022, and the CDC was suddenly less sure about the harmlessness of the spike protein.

Up until then, the words “harmless spike protein” had always been bolded, but in this June revision, they removed the bolding, along with an entire section in which they’d previously claimed that mRNA was rapidly broken down and spike protein did not last more than a few weeks in the body.15 Clearly, the truth was catching up to them and certain lies were getting too risky to hold on to.

CISA also reached out to Google, Meta (Facebook’s parent company), Microsoft and Twitter for help, shortly after the DHS’s Disinformation Governance Board was announced.16 Fortunately, public outcry put an end to this Orwellian Ministry of Truth before it got started.

When Censorship Becomes Election Interference

According to The Washington Times:17

“Details about the Biden administration’s conduct raised the hackles of Republican lawmakers. ‘Confirming that this is the most dangerously anti-free speech administration in American history AND that Facebook … is nothing but an appendage of the deep state,’ Sen. Josh Hawley, Missouri Republican, said on Twitter as he shared news of the court filing.”

Other lawmakers are also getting involved. In an August 29, 2022, letter18,19 to Attorney General Merrick Garland and FBI Director Christopher A. Wray, Republican Sens. Charles E. Grassley of Iowa and Ron Johnson of Wisconsin requested records of the government’s contacts with social media companies to ascertain whether the FBI and/or DOJ did, in fact, instruct them to censor information about the Hunter Biden laptop scandal by falsely referring to it as “Russian disinformation.”20

Zuckerberg has also been asked21 to provide any correspondence involving the censorship of the Hunter Biden laptop story, especially as it pertains to the FBI’s instructions to censor this political hot potato — something he openly admitted in a recent Joe Rogan interview (see video above).22

Lawmakers Pursue Legislation to Penalize Gov’t Censorship

Three Republican House Representatives on the House Oversight and Reform, Judiciary, and Commerce committees — Reps. James Comer of Kentucky, Jim Jordan of Ohio, and Cathy McMorris Rodgers of Washington — have also introduced the Protecting Speech from Government Interference Act23 (HR.8752), aimed at preventing federal employees from using their positions to influence censorship decisions by tech platforms.

The bill would create restrictions to prevent federal employees from asking or encouraging private entities to censor private speech or otherwise discourage free speech, and impose penalties, including civil fines and disciplinary actions for government employees who facilitate social media censorship.

While the U.S. Constitution clearly forbids government censoring and restricting free speech, HR. 8752 could be a helpful enforcement tool, as people might tend to think twice when they know there’s a real and personal price to pay.

from:    https://articles.mercola.com/sites/articles/archive/2022/09/15/government-and-big-tech-collusion.aspx?ui=f460707c057231d228aac22d51b97f2a8dcffa7b857ec065e5a5bfbcfab498ac&sd=20211017&cid_source=dnl&cid_medium=email&cid_content=art1HL&cid=20220915_HL2&cid=DM1261937&bid=1604984985

Following The Plan

The “Scariest Paper Of 2022” Reveals The Terrifying Fate Of Biden’s Economy: Millions Are About To Lose Their Job

BY TYLER DURDEN
SATURDAY, SEP 10, 2022 – 12:11 PM

For much of the past year (and certainly at the time, more than a year ago, when the so-called experts, central bankers and macrotourists were still yapping about “transitory inflation” and other things they were wrong about and do not understand), we were warning that at some point the Fed will realize that it is simply impossible to contain supply-driven inflation through stubborn rate hikes which instead would lead to a dire alternative – millions in mass layoffs and newly unemployed workers …

… and will revise its 2% inflation target higher, a move which will send every risk asset – from high-beta trash and meme stonks, to blue-chip icons, to bitcoin and cryptos limit up.

To remind readers of this coming phase shift, we most recently warned in June that “at some point Fed will concede it has no control over supply. That’s when we will start getting leaks of raising the inflation target“…

Well, it turns out that we were right, and not just about the coming mass layoffs, but also about the inflation target leaks. But first, lets back up a bit.

A little over one year after nobody expected the Fed would be hiking rates like a drunken sailor until some time in late 2023 or 2024, it has now become fashionable to not only predict that the Fed will keep hiking rates at every FOMC meeting and at the fastest pace since the near-hyperinflation of the 1980s, but that the central bank will somehow manage to avoid a hard landing (i.e., the hiking cycle won’t end in a recession or depression), even though every single Fed tightening cycle since 1913 has ended in disaster.

An example of this was the statement by former Fed vice chair (and PIMCO’s “twice-revolving door”) Rich Clarida, who told CNBC that “failure is not an option for Jay Powell,” adding that “I think they’re going to 4% hell or high water. Until inflation comes down a lot, the Fed is really a single mandate central bank.”

Of course, if one could hike rates in a vacuum that could work – after all, Clarida himself, who admits he got this year’s soaring inflation dead wrong when he was still a daytrading god and part oft he Fed in 2021, said that the Fed may as well have just one mandate, namely to tame inflation. But what so few seem to recall is that the Fed is “hiking to spark a recession“, or as CNBC’s Steve Liesman put it, there is no such thing as “immaculate rate hikes” meaning that rate hikes have dire tradeoffs in other sectors of the economy. In other words, if the Fed’s intention is to spark a recession, it will spark a recession… leading to millions of Americans losing their jobs, something which even Elizabeth Warren appears to have grasped.

Yet due to the recency bias of Biden’s trillions in stimmies, and a world where workers – whether working form home or the office – have virtually all the leverage, few today can conceive of a world where inflation is zero or negative and is instead replaced with millions in unemployed workers, an outcome which one could (or rather should) say is even worse for the ruling democrats than roaring inflation. At least, with runaway prices, most people have a job and their wages are rising (at least nominally, if not in real terms).

However, the higher rates rise, the closer we get to that inevitable moment when the BLS – unable to kick the can any longer – admits what has been obvious to so many for months: the US is facing a labor crisis of epic proportions with millions and millions of mass layoffs. And for those to whom it is not yet obvious, we urge to read a WSJ op-ed published by none other than Jason Furman, who is not some crackpot republican but Obama’s own top Economic Adviser from 2013-2017 and currently economic policy professor at Harvard.

In Inflation and the Scariest Economics Paper of 2022, Furman summarizes a paper written by Johns Hopkins macroeconomist Larry Ball with co-authors Daniel Leigh and Prachi Mishra of the International Monetary Fund released by the Brookings Papers on Economic Activity, whose conclusion is as follows: “To bring price increases down to 2%, we may need to tolerate unemployment of 6.5% for two years.

In other words, just as we said, inflation – much of which is supply-driven, which the Fed can do nothing about – will force the Fed to crush the economy by keeping rates for much longer, the result of which will be many millions in unemployed workers, or as Furman puts it, the paper “shows why the Federal Reserve will likely need to maintain its war on inflation, even if unemployment continues to rise.”

What is more remarkable about Furman’s read of the economist paper is that in addition to its primary theme (the lack of labor slack, or labor tightness, is responsible for some 3.4% of underlying inflation in July 2022), the paper admits precisely what we have been saying all along – that the Fed can’t control supply-side variables:

The paper also argues, convincingly in my view, for a different measure of underlying inflation. Fluctuations in energy and food prices are generally due to factors outside the control of macroeconomic policy makers. Geopolitics and weather have elevated the inflation rate in recent years. Plunging gasoline prices are temporarily lowering the inflation rate now. That’s why economists since the 1970s have focused on “core” inflation, which excludes food and energy.

But food and energy aren’t the only things people buy that are subject to supply-side volatility. Prices of new and used cars, for example, have gyrated over the past two years for reasons that are mostly unrelated to the strength of the overall economy. Both regular and core inflation are based on taking averages of price increases and can be distorted by large changes in outlier categories. The median inflation rate calculated by the Federal Reserve Bank of Cleveland drops outliers to remove these distortions.

According to Furman, median inflation – which is a statistically better measure of the underlying inflation that policy makers can actually control – is well above the Fed’s preferred headline inflation print (which fell to zero in July on a sequential basis and has stabilize) and shows no sign of moderating and has run at a 6.6% annual rate in the last three months.

But the “scariest” part of the new paper, Furman reveals, is when the authors use their model to forecast the unemployment rate that would be needed to bring inflation down to the Fed’s 2% target. He explains why this is so scary:

The authors present a range of scenarios, so I ran their model using my own assumptions…  Under these assumptions, which are more optimistic than the authors’ midpoint scenario, if the unemployment rate follows the Federal Open Market Committee’s median economic projection from June that the unemployment will rise to only 4.1%, then the inflation rate will still be about 4% at the end of 2025. To get the inflation rate to the Fed’s target of 2% by then would require an average unemployment rate of about 6.5% in 2023 and 2024.

Where is unemployment now: it’s 3.7% (6.014 million unemployed workers vs 164.746 million civilian labor force). This matters, because according to one of the most erudite economist Democrats, by the end of the Biden admin in 2024, the unemployment will have to soar to 6.5% for inflation to plunge to the Fed’s historical target of 2.0%

What does this mean in absolute numbers? Assuming a modest increase in the US labor force, a 6.5% unemployment rate in 2024 would translate into no less than 10.8 million unemployed workers, an 80% increase from the 6 million today!

Still think that politicians – and especially Democrats – will sit quietly and blindly ignore how high the Fed is hiking rates if it means that to normalize inflation back to 2% it means nearly doubling the number of unemployed Americans (and a crushing recession to boot). Spoiler alert: no, they won’t, and this may be one of the very rare occasions when Elizabeth Warren is actually right to worry about what the coming mass layoff wave means for Democrats… and the 2024 presidential election.

So what should the Fed do? Well, according to Furman, the Fed has four options:

  1. First, place more emphasis on the ratio of job openings to unemployment and median inflation as it assesses the tightness of labor markets and the underlying rate of inflation.
  2. Second, the new paper shows how much easier it will be to tackle inflation if expectations remain under control. The Fed should follow up on Chairman Jerome Powell’s tough talk at Jackson Hole with meaningful action such as a 75-basis-point increase at the next meeting.
  3. Third, be prepared to accept the unemployment rate rising above 5% if inflation is still out of control.

While we doubt #3 is actionable, what is more remarkable is Furman’s final proposal: it’s the one that, like the Dude’s proverbial rug, ties the room together and sets the stage for what is coming:

Finally, stabilizing at a 3% inflation rate is probably healthier for the economy than stabilizing at 2%—so while fighting inflation should be the central bank’s only focus today, at some point the Fed should reassess the meaning of victory in that struggle.

And just in case his WSJ proves too complicated for some mainstream experts and economists, here it is in truncated, twitter format:

And there you have it: remember what we said on June 21: “At some point Fed will concede it has no control over supply. That’s when we will start getting leaks of raising the inflation target.” Well… there it is.

And while mainstream economists and the market may require quite a few months to grasp what is coming, it is the only way out of a crisis of commodities – as Zoltan has repeatedly and correctly put it – and which central banks have no control over, and thus will have to move not only the goalposts but the entire football field to avoid a social revolt or something even scarier.

While we wait, we can’t help but snicker at what the 79-year-old figurehead in the White House tweeted today…

… because what Biden calls “the strongest economic recovery in recent history” is – even according to Democrats – about to be the biggest economic disaster in modern history.

from:    https://www.zerohedge.com/economics/scariest-paper-2022-reveals-terrifying-fate-bidens-economy-millions-are-about-lose-their?utm_source=&utm_medium=email&utm_campaign=914

WHAT!!! Climate Change is Natural Phenomenon

“Nothing To Do With Man” – Astrophysicist Says Climate-Cultists “Are On A Gravy Train” To Make Money
BY TYLER DURDEN
SATURDAY, SEP 10, 2022 – 06:30 PM

This year’s heat waves and subsequent droughts resulted in the hottest summer in recorded European history, according to a report by the Copernicus Climate Change Service (C3S) – an EU-funded Earth observation agency.

“We’ve not only had record August temperatures for Europe, but also for the summer, with the previous summer record only being one year old,” said Freja Vamborg, a senior scientist at the Copernicus Climate Change Service.

Of course, this ‘record’ heat in the summer has prompted activists to trot out the same old tropes that this ‘confirms climate change’ is having a catastrophic effect on the world already. With the energy crisis facing Europe, this is not a particularly comfortable topic as numerous nations abandon – albeit apparently temporarily – their green policies in favor of not letting their citizenry starve or freeze.

Given that it’s all ‘settled science’, the following RT News anchor was probably expecting a rote response to his questions about climate change.

He was in for a big surprise…

Piers Corbyn – physicist, meteorologist, and elder brother of former UK Labor Party leader Jeremy Corbyn – explained to the shocked RT anchor that the climate “has always been changing, but this has nothing to do with man”

The astrophysicist instead believes that changes in the Earth’s climate and its weather are dictated primarily by cyclical activity on the surface of the sun (and not, pointedly, by the effects of carbon dioxide in the atmosphere). 

“For one thing science doesn’t do settled opinions,” Corbyn says.

“And for another they are all wrong.”

“Surely man has something to with this,” exclaims the struggling new anchor, to which Corbyn responds:

“No, the only connection is that man is here at the same time as the sun and the moon are doing things.”

The frustrated anchor falls back to consensus, asking “so how come then that so many climate change scientists disagree with you and they get so much support for that?”

Corbyn’s laughing response was straightforward:

“…those that say this are just trying to make money… They’re on a gravy train for heaven’s sake.”

Watch the brief interview below:

Finally, we note that in former UK PM Boris Johnson once lauded Corbyn as “the world’s foremost meteorological soothsayer”.

We suspect this is the last time Mr.Corbyn will be allowed on TV…

from:  https://www.zerohedge.com/weather/nothing-do-man-astrophysicist-says-climate-cultists-are-gravy-train-make-money?utm_source=&utm_medium=email&utm_campaign=914