Category U. S. Bureau of Cyberspace and Digital Policy

Jul 9 2022

Elon Musk Terminates Twitter Purchase Deal, Citing Material Breach of Agreement by Company Refusing to Provide Access to Data


Posted originally on the conservative tree house on July 8, 2022 | sundance

Elon Musk has notified Twitter and the SEC [SEE LETTER HERE] that he is exercising his “right to terminate the merger agreement and abandon the transaction contemplated” due to the social media company not providing transparent access to background data that would allow authentication of “monetized daily active users” (mDAUs).

It appears that Twitter Inc did not want to reveal how Jack’s Magic Coffee Shop was able to sustain operations, at an extremely high cost, without making money.   That’s the essential source of the issue.

The social media company did not want anyone looking at the data stream inside the communication platform.   Musk was not allowed to authenticate the number of real users and identify the number of ‘spam’ or ‘bot’ accounts within the platform.

From the SEC Letter: […] ” Specifically, in the Merger Agreement, Twitter represented that no documents that Twitter filed with the U.S. Securities and Exchange Commission since January 1, 2022, included any “untrue statement of a material fact” (Section 4.6(a)). Twitter has repeatedly made statements in such filings regarding the portion of its mDAUs that are false or spam, including statements that: “We have performed an internal review of a sample of accounts and estimate that the average of false or spam accounts during the first quarter of 2022 represented fewer than 5% of our mDAU during the quarter,” and “After we determine an account is spam, malicious automation, or fake, we stop counting it in our mDAU, or other related metrics.”

Mr. Musk relied on this representation in the Merger Agreement (and Twitter’s numerous public statements regarding false and spam accounts in its publicly filed SEC documents) when agreeing to enter into the Merger Agreement. Mr. Musk has the right to seek rescission of the Merger Agreement in the event these material representations are determined to be false.

Although Twitter has not yet provided complete information to Mr. Musk that would enable him to do a complete and comprehensive review of spam and fake accounts on Twitter’s platform, he has been able to partially and preliminarily analyze the accuracy of Twitter’s disclosure regarding its mDAU. While this analysis remains ongoing, all indications suggest that several of Twitter’s public disclosures regarding its mDAUs are either false or materially misleading. 

First, although Twitter has consistently represented in securities filings that “fewer than 5%” of its mDAU are false or spam accounts, based on the information provided by Twitter to date, it appears that Twitter is dramatically understating the proportion of spam and false accounts represented in its mDAU count. Preliminary analysis by Mr. Musk’s advisors of the information provided by Twitter to date causes Mr. Musk to strongly believe that the proportion of false and spam accounts included in the reported mDAU count is wildly higher than 5%. 

Second, Twitter’s disclosure that it ceases to count fake or spam users in its mDAU when it determines that those users are fake appears to be false. Instead, we understand, based on Twitter’s representations during a June 30, 2022 call with us, that Twitter includes accounts that have been suspended—and thus are known to be fake or spam—in its quarterly mDAU count even when it is aware that the suspended accounts were included in mDAU for that quarter.

Last, Twitter has represented that it is “continually seeking to improve our ability to estimate the total number of spam accounts and eliminate them from the calculation of our mDAU…” But, Twitter’s process for calculating its mDAU, and the percentage of mDAU comprised of non-monetizable spam accounts, appears to be arbitrary and ad hoc. Disclosing that Twitter has a reasoned process for calculating mDAU when the opposite is true would be false and misleading. (more)

In April of this year the social media company Twitter said revenue for the first quarter totaled $1.2 billion (+16%). However, costs and expenses totaled $1.33 billion (+35%), resulting in an operating loss of $128 million (link).  Another unsustainable financial result for a company that doesn’t make a dime in profit, yet it continues to operate.

The metaphorical Jack had a great idea, open a coffee shop where the beverages were free and use internal advertising as the income subsidy to operate the business.  Crowds came for the free coffee, comfy couches, fellowship, conversation and enjoyment.

It didn’t matter where Jack got the coffee, how he paid for it, or didn’t, or what product advertising the customers would be exposed to while there.  Few people thought about such things.  Curiously, it didn’t matter what size the crowd was; in the backroom of Jack’s Coffee Shop, they were able to generate massive amounts of never-ending free coffee at extreme scales.

Over time, using the justification of parking lot capacity and township regulations, not everyone would be able to park and enter.  Guards were placed at the entrance to pre-screen customers. A debate began.

Alternative coffee shops opened around town.  It was entirely possible to duplicate Jacks Coffee Shop, yet no one could duplicate the business model for the free coffee.  Indeed, there was something very unique about Jack’s Coffee Shop.  Thus, some underlying suspicions were raised:

The only way Twitter, with 217 million users, could exist as a viable platform is if they had access to tech systems of incredible scale and performance, and those systems were essentially free or very cheap.  The only entity that could possibly provide that level of capacity and scale is the United States Government – combined with a bottomless bank account.  A public-private partnership.

If my hunch is correct, Elon Musk is poised to expose the well-kept secret that most social media platforms are operating on U.S. government tech infrastructure and indirect subsidy.  Let that sink in.

The U.S. technology system, the assembled massive system of connected databases and server networks, is the operating infrastructure that offsets the cost of Twitter to run their own servers and database.  The backbone of Twitter is the United States government.

FREE COFFEE:

♦ June 2013: […] “Cloud computing is one of the core components of the strategy to help the IC discover, access and share critical information in an era of seemingly infinite data.” … “A test scenario described by GAO in its June 2013 bid protest opinion suggests the CIA sought to compare how the solutions presented by IBM and Amazon Web Services (AWS) could crunch massive data sets, commonly referred to as big data.” … “Solutions had to provide a “hosting environment for applications which process vast amounts of information in parallel on large clusters (thousands of nodes) of commodity hardware” using a platform called MapReduce. Through MapReduce, clusters were provisioned for computation and segmentation. Test runs assumed clusters were large enough to process 100 terabytes of raw input data. AWS’ solution received superior marks from CIA procurement officials”… (MORE)

♦ November 2013: […] “Twitter closed its first day of trading on Nov. 7, 2013, at $44.90 a share. In the years since then, it briefly traded above $70, but more recently, it has struggled.”

Jack’s Magic Coffee Shot has been for sale, but there’s no viable business model in the private sector.  No one has wanted to purchase Twitter – it is simply unsustainable; the data processing costs, specifically the server data processing demand for simultaneous active users, exceeds the capacity of the platform to generate revenue – until now….

And suddenly, the people who work in the backroom of Jack’s Magic Coffee Shop did not want Jack to sell.

Twitter is not making a decision to decline the generous offer by Elon Musk because of stewardship or fiduciary responsibility to shareholders.  The financials of Twitter as a non-viable business model highlight the issue of money being irrelevant.  Twitter does not and cannot make money.  Growing Twitter only means growing an expense. Growing Twitter does not grow revenue enough to offset the increase in expense.

There is only one way for Twitter to exist as a viable entity, people are now starting to realize this.

What matters to the people behind Twitter, the people who are subsidizing the ability of Twitter to exist, is control over the global conversation.

Control of the conversation is priceless to the people who provide the backbone for Twitter.

Once people realize who is subsidizing Twitter, everything changes.

That’s the fight. (more)

♦ 2021, Public-Private Partnership – The modern Fourth Branch of Government is only possible because of a Public-Private partnership with the intelligence apparatus. You do not have to take my word for it, the partnership is so brazen they have made public admissions.

The biggest names in Big Tech announced in June their partnership with the Five Eyes intelligence network, ultimately controlled by the NSA, to: (1) monitor all activity in their platforms; (2) identify extremist content; (3) look for expressions of Domestic Violent Extremism (DVE); and then, (4) put the content details into a database where the Five Eyes intelligence agencies (U.K., U.S., Australia, Canada, New Zealand) can access it.

Facebook, Twitter, Google and Microsoft are all partnering with the intelligence apparatus. It might be difficult to fathom how openly they admit this, but they do. Look at this sentence in the press release (emphasis mine):

[…] “The Group will use lists from intelligence-sharing group Five Eyes adding URLs and PDFs from more groups, including the Proud Boys, the Three Percenters and neo-Nazis.”

Think about that sentence structure very carefully. They are “adding to” the preexisting list…. admitting the group (aka Big Tech) already have access to the the intelligence-sharing database… and also admitting there is a preexisting list created by the Five Eyes consortium.

Obviously, who and what is defined as “extremist content” will be determined by the Big Tech insiders themselves. This provides a gateway, another plausible deniability aspect, to cover the Intelligence Branch from any oversight.

When the Intelligence Branch within government wants to conduct surveillance and monitor American citizens, they run up against problems due to the Constitution of the United States. They get around those legal limitations by sub-contracting the intelligence gathering, the actual data-mining, and allowing outside parties (contractors) to have access to the central database.

The government cannot conduct electronic searches (4th amendment issue) without a warrant; however, private individuals can search and report back as long as they have access. What is being admitted is exactly that preexisting partnership. The difference is that Big Tech will flag the content from within their platforms, and now a secondary database filled with the extracted information will be provided openly for the Intelligence Branch to exploit.

The volume of metadata captured by the NSA has always been a problem because of the filters needed to make the targeting useful. There is a lot of noise in collecting all data that makes the parts you really want to identify more difficult to capture. This new admission puts a new massive filtration system in the metadata that circumvents any privacy protections for individuals.

Previously, the Intelligence Branch worked around the constitutional and unlawful search issue by using resources that were not in the United States. A domestic U.S. agency, working on behalf of the U.S. government, cannot listen on your calls without a warrant. However, if the U.S. agency sub-contracts to say a Canadian group, or foreign ally, the privacy invasion is no longer legally restricted by U.S. law.

What was announced in June 2021 is an alarming admission of a prior relationship along with open intent to define their domestic political opposition as extremists.

July 26, 2021, (Reuters) – A counterterrorism organization formed by some of the biggest U.S. tech companies including Facebook (FB.O) and Microsoft (MSFT.O) is significantly expanding the types of extremist content shared between firms in a key database, aiming to crack down on material from white supremacists and far-right militias, the group told Reuters.

Until now, the Global Internet Forum to Counter Terrorism’s (GIFCT) database has focused on videos and images from terrorist groups on a United Nations list and so has largely consisted of content from Islamist extremist organizations such as Islamic State, al Qaeda and the Taliban.

Over the next few months, the group will add attacker manifestos – often shared by sympathizers after white supremacist violence – and other publications and links flagged by U.N. initiative Tech Against Terrorism. It will use lists from intelligence-sharing group Five Eyes, adding URLs and PDFs from more groups, including the Proud Boys, the Three Percenters and neo-Nazis.

The firms, which include Twitter (TWTR.N) and Alphabet Inc’s (GOOGL.O) YouTube, share “hashes,” unique numerical representations of original pieces of content that have been removed from their services. Other platforms use these to identify the same content on their own sites in order to review or remove it. (read more)

The influence of the Intelligence Branch now reaches into our lives, our personal lives. In the decades before 9/11/01 the intelligence apparatus intersected with government, influenced government, and undoubtedly controlled many institutions with it. The legislative oversight function was weak and growing weaker, but it still existed and could have been used to keep the IC in check. However, after the events of 9/11/01, the short-sighted legislative reactions opened the door to allow the surveillance state to weaponize.

After the Patriot Act was triggered, not coincidentally only six weeks after 9/11, a slow and dangerous fuse was lit that ends with the intelligence apparatus being granted a massive amount of power. The problem with assembled power is always what happens when a Machiavellian network takes control over that power and begins the process to weaponize the tools for their own malicious benefit. That is exactly what the installation of Barack Obama was all about.

The Obama network took pre-assembled intelligence weapons we should never have allowed to be created, and turned those weapons into tools for his radical and fundamental change. The target was the essential fabric of our nation. Ultimately, this corrupt political process gave power to create the Fourth Branch of Government, the Intelligence Branch. From that perspective the fundamental change was successful.

…It’s all Connected Folks, SEE HERE

[…] “The vision was first outlined in the Intelligence Community Information Technology Enterprise plan championed by Director of National Intelligence James Clapper and IC Chief Information Officer Al Tarasiuk almost three years ago.” … “It is difficult to underestimate the cloud contract’s importance. In a recent public appearance, CIA Chief Information Officer Douglas Wolfe called it “one of the most important technology procurements in recent history,” with ramifications far outside the realm of technology.” (READ MORE)

One job…. “take the preexisting system and retool it so the weapons of government only targeted one side of the political continuum.”

Say cheers for subsidized data processing through the cloud.  The only thing we ask in advance is for operational nodes to monitor and extract data that is within computing systems.

“Cheers”… 

Jul 8 2022

Facing Public Backlash Manhattan DA Lowers Bail for 61-Year-Old Convenience Store Clerk, Jose Alba, in Clear Self Defense Case


Posted originally on the conservative tree house on July 7, 2022 | Sundance 

The Safari Rules are surfacing again….

Jose Alba, 61, was working at Hamilton Heights Grocery on Broadway when a 35-year-old career criminal and ex-con, Austin Simon, stormed behind the counter and shoved him into a wall.  Austin Simon then continued to aggressively push Alba around, when the clerk grabbed a knife to defend himself and stabbed his attacker, Simon.

The entire incident was captured on CCTV footage [SEE HERE, Rumble], and the series of events were triggered when Simon’s girlfriend did not have enough money for her purchase and Jose Alba would not let her just take it without paying.  The boyfriend, Austin Simon, then enters the store, walks behind the counter and begins assaulting the 61-year-old Mr. Alba.  After a few minutes of being shoved and pushed around, Alba then grabbed a knife and stabbed Simon.  The attacker died of his injuries.  The store clerk was arrested by police, charged with murder and sent to jail with a $500,000 bail.

New York – The hard-working Manhattan bodega worker who was languishing on Rikers Island after being charged with murder for fending off a violent ex-con inside his store could be home as soon as Thursday night after a judge agreed to lower his hefty bail.

Jose Alba, who was being held on $250,000 bail in the Friday night caught-on-video attack, is due to be sprung after Manhattan prosecutors asked a judge to lower the amount to $50,000 — with relatives and Alba’s boss putting up the $5,000 needed to spring him on a bail bond. 

Alba’s attorney, Danielle Jackson of Neighborhood Defender Service of Harlem, assured the judge that her client was going nowhere.

“He has every intention to return to court and defend this case,” Jackson said.

Prosecutors with District Attorney Alvin Bragg’s office had initially requested that Alba be held on $500,000 bail at his arraignment Saturday, citing a planned trip to the Dominican Republic next week as proof that he was a flight risk.

In court, Manhattan prosecutors charged Alba with second-degree murder, but refused to file charges against Simon’s girlfriend for stabbing the bodega worker.

More than 20 relatives and supporters packed the courtroom for the video-feed court hearing in support of the beleaguered bodega worker.

Simon’s family, meanwhile, stormed out of court in tears, with his sister saying, that he “was murdered in cold blood.”  “If the shoe was on the other foot my brother wouldn’t have gotten bail or bond or nothing,” she said.  (read more)

Unfortunately, there is a racial component to this as blacks and Latinos have historically been two groups with friction between them.   Then overlay the black grievance industry, and the last decade of efforts to excuse any amount of criminal conduct by black males, and the narrative becomes very familiar.  It’s the “Safari Principle.”

Essentially, the rules of the safari say you should remain indoors, or in a locked vehicle, when there are predators (young black males) in the vicinity.  If you exit your vehicle in the safari, or otherwise engage the predators, they are not to blame for your injury or death.  This social acceptance of black violence is part of the reparations process advanced by progressives and leftists.

Under the rules of the safari, you are not allowed to defend yourself from any predatory attack, and all attacks are triggered by the behavior of the victim when the attack starts.  Famously another Latino named George Zimmerman was arrested by an activist prosecutor in Florida for defending himself against an attack by a black male named Trayvon Martin.

Police Officer Darren Wilson in Ferguson Missouri also learned the rules of the safari when he was attacked by another black male named Michael Brown.  Wilson shot and killed Brown after the predator attacked him in his vehicle; however, Wilson was run out of town by angry mob who wanted him arrested for defending himself and doing his job.

As the Safari Rules have continued to evolve under the culturally Marxist advancements by Black Lives Matter, the current rules emphasize that all black male predators are to be excused for their violent behavior immediately and no self-defense is permitted.

Mr. Jose Alba has now entered into the Safari Rules legal process.

Jul 8 2022

White House Press Secretary Claims Current U.S. Status is Best Economy in Our Nation’s History


Posted originally on the conservative tree house on July 7, 2022 | Sundance 

White House Press Secretary Karine Jean-Pierre is, at this point, transparently identified as the least qualified and capable person to hold that position in modern history.  She genuinely is lacking the ability to articulate intelligent responses to any questions.

It is also obvious to those who have followed Biden personnel decisions, that KJP was selected because she would spout the information given to her by Chief-of-Staff Ron Klain without a moment’s hesitation.  She is not intelligent enough to know the talking points are complete nonsense.  She spouts the most ridiculous talking points in a manner that reflects she believes them.  That said, her capacity to stumble through nonsense and pretend it is real is only surpassed by Kamala Harris and Pete Buttigieg.

Today from the White House podium, Ms. Karine Jean-Pierre actually made the claim that our current economy is the strongest in our nation’s history.  WATCH:

https://youtube.com/watch?v=RjZxmGMN6x8%3Ffeature%3Doembed

It is one thing to politically ‘spin’ reality, it is another thing entirely to politically manufacture reality.

Jul 6 2022

The Future – Post 2032 – A New Beginning?


Armstrong Economics Blog/ECM Re-Posted Jul 6, 2022 by Martin Armstrong

QUESTION: Will you explain what Socrates foresees for after 2032 at this year’s WEC in November? I’m more concerned about my grandkids. A lot of people seem to be plagiarizing you these days. But all they have to offer is an opinion and we all have opinions. Socrates has been the only thing that has ever been consistently correct.

TH

ANSWER: I have warned that the Economic Confidence Model and how markets even trade themselves is always fractal. We are completing the end of the BIG ONE. I think a lot of people are starting to see this too. The End of the World is by no means the END. It is just the point in history where it all begins again. We can see that Biden is probably the instrument of death, or should I say those who write his executive orders and cheat sheets. They are obsessed with climate change and are deliberately trying to destroy our capacity to produce and use fossil fuels. 

The hatred and division in our society is just insane. We have celebrities canceling the 4th of July over abortion. The very law that the Supreme Court ruled on limited abortion to 15 weeks. They seem to think they have the right to kill a child up to birth. Bette Midler started a controversy on Twitter by posting: “They don’t call us ‘women’ anymore; they call us ‘birthing people’ or ‘menstruators,’ and even ‘people with vaginas!’ Don’t let them erase you! Every human on earth owes you.” The world has gone insane, and all these labels only divide society, creating one group against another. This is the total destruction of society and these people are so stupid, that they cannot see what they are doing because of their own deranged views.

There is an ebb and flow to civilization. We all come together because it benefits all of us, and then it falls apart when one group begins to exploit another. This is the basic rhythm of civilization. As taxes are low and the economy booms in the city, the youth are attracted to the city and leave their parents on the farms or suburbs and head off to make their fortune in the world. Rome became the largest city in history, reaching a population in excess of 1 million by its peak in 180 AD. It had crossed that 1 million mark in 133 AD during the reign of Hadrian (117-138AD).

With the death of Marcus Aurelius (161-180 AD) in 180 AD, the decline and fall began just 51.6 years after it exceeded one million people. The crazy emperor Commodus (177-192 AD) followed his father. Like the Democrats today who attack anyone who supported Trump and are still running against Trump in 2022, Commodus did the same, and anyone who had supported his father he attacked. Today, Liz Cheney, who is as evil as her father in my opinion, is today’s Commodus. She is the destroyer of civilization, for her personal hatred of Trump is dividing the nation and will ensure that people like her will end the United States as we have known it. Cheney will unleash civil war if she really thinks that she can prevent Trump from running imprisoning over 300 people already for entering the Capitol on January 6. Not even their hated Putin even did that to protesters. This will lead to civil war.

Edward Gibbon wrote in his “Decline and Fall of the Roman Empire” about the son of Marcus Aurelius and how he set in motion the collapse of Rome. He wrote of Commodus (177-192AD):

“distinction of every kind soon became criminal. The possession of wealth stimulated the diligence of the informers; rigid virtue implied a tacit censure of the irregularities of Commodus; important services implied a dangerous superiority of merit; and the friendship of the father always insured the aversion of the son. Suspicion was equivalent to proof; trial to condemnation. The execution of a considerable senator was attended with the death of all who might lament or revenge his fate; and when Commodus had once tasted human blood, he became incapable of pity or remorse”

(Book 1, Chapter 4).

We see the same hatred spewing from Cheney’s mouth and with the Democrats. Nobody seems to understand what makes civilization work. They are dividing civilization for personal hatred and gain and in the process fulfilling the cycle that will end civilization as we know it.

Rome was the largest city in ancient times. It eventually collapsed to a population of just 15,000 during the middle ages. The city of London, England, was the first city to reach a population again of one million and it took nearly 6 waves of 309.6 years. London reached the 1 million mark in 1810 during the reign of George III (1760-1820) and in comparison, New York City finally reached that level in 1875 thanks to all the people fleeing Europe. We once again are approaching the peak in civilization and what will come after 2032 will be once more the disintegration of civilization.

Rome fell and broke up into small enclaves that ushered in the feudal system. People became serfs for the common protection of a landlord and his castle. We still retain the word “landlord” to this very day. We will see a new world where countries will no longer exist as we know them and they will all divide and separate into localized jurisdictions lacking the strength of central power.

There will be battles over separation. About 86 years from the peak of Rome, it was divided into three segments. Then there were battles to reunite the empire. Then Constantine divided the empire by moving the capital to Constantinople, which is today Istanbul. Even when Russia fell, it divided regions along the lines of the original countries that were conquered.

Globalization will come to an end and we’re already witnessing this with the Biden sanctions on Russia that have caused inflation and divided the world economy in two. We will witness a return to make the manufacture of various goods locally for each division as well as growing their own food. Energy may revert back to wood and oil for there will be no major power grids as they become localized.

Our population models suggest up to a 50% reduction perhaps as soon as 2040. The population is already shrinking and aging in all the major industrialized nations. Just as in ancient Rome, the first Emperor Augustus issued Family Laws because as an economy expands, the birthrate declines. We see many young girls professing they do not want children. This too is part of the cycle, but they will die alone for children historically were the foundation of civilization as they were charged with taking care of their parents. This is what socialism has done — destroyed the family unit.

I often am asked, how can we prevent the trend. Unfortunately, we cannot. It is far greater than anyone can correct. People like Jessica Chastain are all about them. Without children, her luxurious lifestyle will crumble and she will face the stark reality of how civilization has survived with children taking care of their parents. Even in China, the one-child rule significantly altered its future. While that has now been repealed, the damage long-term is profound.

This will be a NEW BEGINNING for civilization. We will get to rewrite the form of government of the future. This will be a 309.6-year Private Wave, which will be volatile, but our current form of Republics that pretend they are democracies are coming to an end. These are the most corrupt forms of government known in history. They will no longer exist. We will see an admixture of dictatorships/monarchies and democracies.

Jul 5 2022

Let Them Eat Crickets


Armstrong Economics Blog/Agriculture Re-Posted Jul 5, 2022 by Martin Armstrong

Bill Gates’ dream of a meatless Utopia is coming to fruition one insect at a time. Aspire Food Group of Canada announced that it has created an “alternative protein manufacturing facility.” They are not referring to soy or plant-based alternatives but are encouraging the consumption of crickets.

The facility will produce 9,000 metric tons of crickets annually for both pets and humans. I personally would not even allow my dog to eat this pest. So, the plan is to distribute two billion bugs across the US and Canada. Crickets were previously sold to fish bait and pet shops (reptiles) for around $12 for 250 crickets, according to some estimates. The average female lays up to 10 eggs per day for the duration of her short lifespan. One square feet can hold an estimated 1,000 crickets, making this a much easier alternative to raising traditional livestock. Crickets require less space than cattle and allegedly produce less CO2 despite the fact that livestock is not the main culprit.

While other nations have eaten insects for centuries due to a lack of alternatives, the West has not been exposed to this diet. An article in Farmer’s Weekly noted that bacteria contamination is associated with both wild and farmed insects, including the genera Staphylococcus, Streptococcus, Bacillus, Pseudomonas, Micrococcus, Lactobacillus, Erwinia, Clostridium and Acinetobacter, as well as members of the family Enterobacteriaceae.

Expect the media to normalize eating bugs. Perhaps Ina Garten will do a special on how to roast them for your next gathering. However, we have always had the resources to eat fresh produce and animals that are traditional to Western culture. The idea that eating insects will somehow save the planet from mass climate destruction is absurd.

Jul 5 2022

Manhunt Underway as Suspect Shoots 16 People During July 4th Celebration in Highland Park, Illinois


Posted originally on the conservative tree house on July 4, 2022 | Sundance

During a July 4th celebration in Highland Park, a suburb north of Chicago, a gunman has opened fire shooting at least 16 people and reported killing 6 people.  A press conference is pending.  The shooting took place during a parade to celebrate the Fourth of July.  {Press Conference Livestream}  The shooter is NOT in custody.

Suspect description: White Male, 18 to 20 years of age, long black hair, small build, white or light blue t-shirt.   A manhunt is underway to capture the suspect. According to local officials the shooter was positioned on a rooftop when he opened fire.

Illinois (via NBC) – […] Sixteen people were shot and at least five people were killed Monday morning in a shooting at Highland Park’s Independence Day parade, officials confirmed, urging residents to continue to “shelter in place” as the gunman remains at large.

The shooting happened just after 10 a.m. in downtown Highland Park, according to reports. A large police presence from the state and neighboring suburban Chicago departments was seen along the parade route.

“Highland Park Police are responding to an active shooter incident that occurred in downtown Highland Park during the 4th of July parade,” the city of Highland Park wrote in a statement. “This is an active incident. All individuals are advised to shelter in place. Law enforcement agencies are searching for the suspect; evidence of a firearm has been recovered. Numerous law enforcement officers are responding and have secured a perimeter around downtown Highland Park. 16 people have been transferred to the hospital; 5 individuals are confirmed deceased.” (more)

https://youtube.com/watch?v=PS8QYwHxv6w%3Ffeature%3Doembed
Jul 2 2022

Hypocrisy


Armstrong Economics Blog/Uncategorized Re-Posted Jul 2, 2022 by Martin Armstrong

https://youtube.com/watch?v=F0kTg7Krs00%3Ffeature%3Doembed%26wmode%3Dopaque
Jul 1 2022

Atlanta Fed Revises Second Quarter GDP Estimate to Negative 1 Percent


Posted originally on the conservative tree house on June 30, 2022 | Sundance 

We can see no political scenario where the Bureau of Economic Analysis (BEA) will report a negative second quarter GDP number, despite the reality of a contracted economy.

A negative second quarter GDP would mean the Joe Biden economic policies have resulted in a recession.   Yes, the economy is contracting; and yes, the economy is in an actual recession.  However, it would be too politically damaging for the federal bureaucrats to quantify it accurately.

That being said, the Atlanta Fed is now calculating a negative 1% second quarter GDP result [DATA HERE]:

(Fed Reserve) – The GDPNow model estimate for real GDP growth (seasonally adjusted annual rate) in the second quarter of 2022 is -1.0 percent on June 30, down from 0.3 percent on June 27. After recent releases from the US Bureau of Economic Analysis and the US Census Bureau, the nowcasts of second-quarter real personal consumption expenditures growth and real gross private domestic investment growth decreased from 2.7 percent and -8.1 percent, respectively, to 1.7 percent and -13.2 percent, respectively. (link)

CTH predicts the BEA is likely to generate a statistical report somewhere in the +0.5% range. Just enough positive GDP to avoid the literal definition of a recession.  The BEA report will be issued at the end of July and if they follow recent patterns, they will likely underestimate the inflation rate as well as under-calculate the import data. 

Jun 25 2022

New Interview: The Collapse of the Republic


Armstrong Economics Blog/Armstrong in the Media Re-Posted Jun 25, 2022 by Martin Armstrong

Jun 21 2022

Hospitalizations More Likely Among Vaccinated


Armstrong Economics Blog/Disease Re-Posted Jun 21, 2022 by Martin Armstrong

Health organizations would like us to believe that the vaccine lessens symptoms of COVID. Even Justin Trudeau said he was grateful for the vaccines, despite catching COVID twice this year. They cannot hide the fact that vaccinated individuals can catch and transmit the virus. Now, the myth that the vaccine lessens the severity has been exposed.

ResearchGate conducted a study with 18,500 individuals in the control group and a total population of 300,000 participants. They studied people from over 175 different countries and looked at the bigger picture. They found that vaccinated individuals were more likely to end up in the hospital with severe COVID symptoms than the unvaccinated. Even far-left MSN is covering this study. This means there are zero benefits to taking the vaccine. The vaccine mandates were never about health.