Category: Politics

Twitter intensifies effort to suppress QAnon, now one degree away from Aussie PM

Australia, Government, Main, Politics, Social Issues, Social Media, Technology, Technology News, USA

Twitter is broadening its crackdown on people who post content supportive of the “QAnon” movement. In case you’re not aware, QAnon folks believe that US President Donald Trump is locked into a covert power struggle with a bunch satanic pedophiles who control the world behind the scenes.

In other words, people like Jeffrey Epstein, the billionaire financier who raped God knows how many children while hobnobbing with prominent people like Bill Clinton, Prince Andrew and, funnily enough, Donald Trump, who has publicly embraced his QAnon followers. Epstein allegedly hanged himself last summer while awaiting trial on sex trafficking charges.

In August it was reported that Twitter had banned over 7,000 QAnon-linked accounts.

“We’ve been clear that we will take strong enforcement action on behavior that has the potential to lead to offline harm,” the @TwitterSafety account posted 21 July. “In line with this approach, this week we are taking further action on so-called ‘QAnon’ activity across the service.”

This act of censorship led media outlets to question whether Twitter would apply the same standards to accounts held by elected officials or political candidates. There are apparently 15 QAnon supporters running for public office in the US this year—all Republicans, presumably.

Last week Twitter announced that elected officials who promulgate QAnon via their tweets will “will no longer be actively recommended by Twitter.” Which sounds like they’re not quite prepared to drop the ban hammer on politicians yet. Though it’s almost certainly just a matter of time.

QAnon isn’t confined to the US. Far from it. The movement is spreading around the world as if it’s being carried by Fast Courier Australia.

In fact, Twitter just shut down an account belonging to a close friend of our very own Prime Minister Scott Morrison. The Guardian identified him as Tim Stewart, whose wife was and might still be on Morrison’s staff. Twitter said Stewart was “permanently suspended for engaging in coordinated harmful activity.”

Stewart denies that he and Morrison have ever discussed QAnon together. What do you think?

Australian economy sees record contraction

Australia, China, Financial News, General, Main, Politics

Australia is now dealing with an economic recession due to the impact of the coronavirus pandemic on the hospitality, tourism and service industries. According to the Australian Bureau of Statistics (ABS), the country’s GDP declined by a whopping 7 percent during the June quarter, a new record. It follows a bad March quarter in which GDP fell by 0.3 percent.

“The global pandemic and associated containment policies led to a 7.0 per cent fall in GDP for the June quarter. This is, by a wide margin, the largest fall in quarterly GDP since records began in 1959,” said Michael Smedes, Head of National Accounts at the ABS.

He added that household spending is way down as people adjust to the ongoing lockdown measures:

“The June quarter saw a significant contraction in household spending on services as households altered their behaviour and restrictions were put in place to contain the spread of the coronavirus.”

Australia was already suffering from economic woes owing to the bushfires that ravaged much of the country throughout the second half of 2019 and into the early months of 2020. In addition to destroying 46 million acres of land and killing over a billion animals, the bushfires affected more than a quarter of Australian businesses. The tourism and fishing sectors were hit particularly hard.

Then, just as the fires began to die down, news of a deadly new virus out of China broke. Within months economies around the world were brought to a grinding halt, forcing people to hunker down in their adjustable beds.

“We have done everything possible to cushion the blow for the Australian community from Covid-19,” Treasurer Josh Frydenberg said Wednesday. “Our priority has and will continue to be saving lives and ensuring that Australia’s healthcare system has the capacity to test and to trace and to treat coronavirus cases.”

Making matters worse is the economic row between Canberra and Beijing, which began when PM Morrison expressed support for an independent, international probe into how precisely the pandemic began. Beijing took exception to this and retaliated by slapping tariffs on barley imports and suspending other imports altogether.

At the moment, sex assault victims in Victoria can be fined or jailed for speaking out in public

Australia, Politics, Social Issues

The government of Victoria is reviewing a law passed early this year that requires victims of sexual assault to get a court’s permission before speaking publicly about the crime—and punishes them with a fine (up to $3304) or jail time (four months) if they don’t. In other words, unless they’re using an alias, victims need a court order if they want to, say, write a book about their experience, or give an interview on TV or radio.

Ironically, the law was intended to make it easier for victims to go public. At least, that’s what Victorian Attorney General Jill Hennessy says.

“The changes that took effect in February were about reducing barriers and improving clarity for victims who want to talk about their experiences, not about introducing new restrictions for survivors who want to go public with their story,” she wrote on Twitter.

“I am aware of the concerns raised by victims and advocacy groups regarding the effect of these reforms and have asked the Department of Justice and Community Safety to urgently look at whether further changes are needed to ensure they are effective.”

Many victims of sexual assault go on to experience emotional and psychological issues, necessitating help from a counselor or psychologist. The good news is that more and more mental health professionals are becoming NDIS registered providers.

Per CNN, another aim of the bill was to protect the identities of sexual assault victims who don’t want to go public with their stories—by making it a crime for other people to public share information that could result in the victim being outed.

While other states have similar laws on the books, they allow the victims to surrender their anonymity without facing any penalty. The Victoria law contains no such clause, which is why some people are referring to it as a “gag law.”

A campaign called #LetUsSpeak was initiated this week with the goal of amending the law.

According to a 2012 survey by the Australian Bureau of Statistics, 17 percent of adult women and 4 percent of adult men have been sexually assaulted at least once since the age of 15. Women, children aged 10-14 years, and Aboriginal or Torres Strait Islander peoples are the highest risk groups in Australia.

Contrary to Dr Trump’s opinion, the coronavirus will not just ‘disappear’

Politics, Science

One or more efficacious covid-19 vaccines will be necessary to defeat the current pandemic, in the view of a leading Australian virologist.

That virologist is one Professor William Rawlinson, who spoke about the need for a vaccine during an interview with Tracy Grimshaw on A Current Affair. He said scientists have had their noses to the grindstone all year, working round the clock to come up with a coronavirus vaccine.

“Population scientists and public health physicians and vaccine technologists have been working really since January, February this year to develop these,” Rawlinson said.

The speed with which the scientific community has progressed toward a vaccine is striking, especially considering that health experts were warning in the spring that a vaccine was likely 18 months away. Instead, it seems we’ll have one by the beginning of next year, possibly sooner.

Earlier this month it was reported that the UK government has committed to buying 340 million doses of six experimental vaccines. There is also a promising vaccine being developed by Oxford University that US President Donald Trump–who has repeatedly asserted that covid-19 will magically vanish one of these days–is reportedly considering giving an “emergency use authorization.”

A major factor allowing for this warp speed was the previous efforts to develop a vaccine for SARS, another type of coronavirus that shares characteristics with covid-19. Because SARS disappeared of its own volition, a vaccine was never completed. But valuable data was nevertheless produced during the early trials.

“That vaccine was never taken fully to a population,” Rawlinson explained. “There was some very good early information available from a number of what we call phase two studies and by the time they were planning for phase three studies there were no more cases.

“So really the reason for doing it died out which was great of course because SARS COVID-1, the original SARS disappeared. What that did allow us to have is a lot of information that then provided data that could be used for SARS COVID-2, so we actually got a bit of a head start.”

He went on to add that “it’s unlikely” that the covid-19 pandemic will go away without effectual vaccines.

Black Lives Matter protests come under scrutiny

China, General, Government, Health, Oceania, Politics, Social Issues

An Australian court has ruled against Black Lives Matter protesters’ request to appeal the decision that denied the permission for a protest scheduled on Tuesday 28th July 2020. The decision comes as Australia reported a record number of new cases per day, with the total number reaching over 500 for the first time since the virus was reported in the country in January 2020. 

In response to the decision to deny the appeal, David Elliott, New South Wales police minister, said: ‘I welcome the court of appeal’s decision to uphold the supreme court’s verdict on the authorisation of a protest planned for Tuesday 28 July.’ He went on to describe how the ‘NSW government urges both the organisers and anyone thinking of attending to stay away, abide by the law and seriously consider the consequences of their potential actions. A pandemic is no time to attend a mass gathering, no matter how honourable the cause.’ The decision is a controversial one as Black Lives Matter protests have begun around the world, with momentum behind the movement increasing after the death of George Floyd in the USA on 25 May 2020. Starting in Minneapolis, the protests have spread globally, with Aljazeera even creating an interactive map of the rally site locations. 
The July record high comes following numbers as low as 3 and 12 back in May and June. The last peak of record new cases per day came back in March, which saw 469 cases reported in one day likely because of high numbers of returning international travellers. The majority of new cases were found in Victoria, with others in New South Wales and one in Queensland. As of the 22nd July there were currently 214 in hospitals around Australia following an additional 31 people submitted since the 14th July. Over 20 of the patients are intensive care units on ventilators.

European Central Bank official rails against Facebook Libra

Europe, Financial News, Politics, Regulation News, Technology NewsNo Comments

Yves Mersch, executive board member of the European Central Bank, outlined on Monday a series of warnings concerning Facebook’s proposed blockchain digital currency Libra.

What is Libra?

Development of Libra began in 2017, and public reports first came to light the next year. Creators Morgan Beller, David Marcus, and Kevin Weil formally announced it this June. They also revealed its planned release in 2020.

Whereas Bitcoin and many other blockchain currencies are decentralized, relying on unaffiliated miners to maintain solvency and stability, Libra’s assets are centralized by the Libra Association. Guarantees of $10 million investments from each supporting partner—injected before Libra opens to the public—intend to stabilize the digital currency. Concerns with volatility significantly deter investment in blockchain currencies.

Libra’s expected 2020 release coincides with the release of a digital wallet, Calibra, that will allow payment through Messenger and WhatsApp. Similar messaging-app-integrated payment systems are hugely popular in China (WeChat Pay, AliPay) and Japan (LINE Pay). This market gap still exists in other parts of the world; apps such as Google Pay, Venmo, and Cash App do not integrate payment and SMS services. Investing partners include Mastercard, eBay, PayPal, and Uber, which should give a likely indication of Libra’s plans for market implementation.

Governments push back

The criticism from the ECB is both general and specific. 

Mersch expressed distrust in Facebook as a whole, reminding the public that Libra’s developers are:

“the very same people who had to explain themselves in front of legislators in the United States and the European Union on the threats to our democracies resulting from their handling of personal data on their social media platform.”

He also criticized its centralized, hefty investment-based structure:

“With such a setup, it is difficult to discern the foundational promises of decentralization…normally associated with cryptocurrencies and other digital currencies. On the contrary, similarly to public money, Libra will actually be highly centralized, with Facebook and its partners acting as quasi-sovereign issuers of currency.”

Be humble

Digital currencies have always been subject to criticism and regulation from governments; they disrupt traditional wealth distribution and storage. Libra also seeks to profit off market disruption, creating a currency privately regulated by the very companies that are selling you their products.

Libra has received criticisms and/or cease and desist requests from the United States, France, England, Germany, and Japan.

Trump, economists criticize Fed’s interest rates cut

Countries, Financial News, North America, Politics, Regions, Regulation News, USANo Comments

The Federal Reserve’s decision to cut interest rates by a quarter of a percentage point failed to pacify US President Donald Trump, who has routinely hit out at Fed chair Jerome H. Powell for keeping rates too high. The federal funds target rate range is now 2% to 2.25%.

“As usual, Powell let us down, but at least he is ending quantitative tightening, which shouldn’t have started in the first place – no inflation,” Trump wrote on Twitter. “We are winning anyway, but I am certainly not getting much help from the Federal Reserve!”

Trump went on to say that he would like to see further and more aggressive rate cutting going forward.

“What the Market wanted to hear from Jay Powell and the Federal Reserve was that this was the beginning of a lengthy and aggressive rate-cutting cycle which would keep pace with China, The European Union and other countries around the world.”

But Trump was not the only one critical of the cut. Two Fed officials also disagreed with the decision, albeit for different reasons.

CNBC reports that Boston Fed President Eric Rosengren and Kansas City Fed President Esther George—who had both expressed misgivings about a potential rate cut—both voted against the measure, arguing that rates ought to remain unchanged.

“Given that the economy is quite strong, given that I do think that inflation is going to be very close to 2%, and given that the growth in the economy is satisfactory, I think that’s an environment where you don’t have to take a lot of action,” Rosengren told CNBC.

Others were critical as well. Chris Rupkey, chief financial economist at MUFG Union Bank, slammed the rate cut as an “unwise decision,” arguing that “The Fed’s decision today is like in the days when doctors bled their patients to heal them.”

He added that, in his view, the Fed “manufactur[ed] reasons to cut interest rates despite a strong economy with no recession signs apparent anywhere out on the horizon.”

The decrease was the first since 2008, when the Fed hacked rates down to almost zero percent in the midst of massive economic fallout caused by the US subprime mortgage crisis.

Fall in Asian markets reflects pessimism over US-China trade deal

Asia, China, Countries, Financial News, North America, Politics, Regions, Regulation News, South East Asia, USANo Comments

Negotiations between Washington and Beijing over a trade deal may be ongoing, but that doesn’t mean people are optimistic about the potential for a settlement, as evinced by the fall in Asian markets during early trading Wednesday.

The decline came in the wake of a Twitter rampage from US President Donald Trump—who has been less than consistent (one might say erratic) on this issue—in which he lit into China for not importing more agricultural products from the US and took credit for the Asian country’s allegedly failing economy.

“China is doing very badly, worst year in 27 – was supposed to start buying our agricultural product now – no signs that they are doing so. That is the problem with China, they just don’t come through. Our Economy has become MUCH larger than the Chinese Economy is last 3 years,” he wrote.

Continuing he wrote:

“My team is negotiating with them now, but they always change the deal in the end to their benefit.”

And in conclusion:

“China has lost 5 million jobs and two million manufacturing jobs due to the Trump Tariffs. Trumps [sic] got China back on its heels, and the United States is doing great.”

Trump did not provide any sources to back up the stated figures, but then I probably didn’t have to tell you that.

MarketWatch summed up the immediate fallout, reporting that “Japan’s Nikkei slid 1% and Hong Kong’s Hang Seng Index  fell 1.3%. The Shanghai Composite retreated 0.8% while the smaller-cap Shenzhen Composite lost 0.5%. South Korea’s Kospi fell 1% as North Korea tested more short-range ballistic missiles, and benchmark indexes in Taiwan, Singapore and Indonesia all fell. Australia’s S&P/ASX 200 slipped 0.2%.”

Individual stocks were also down.

MarketWatch reports that, in addition to Trump’s unpredictability, an ongoing trade dispute between South Korea and Japan is roiling markets. Said dispute stems from Tokyo’s decision to deny South Korea a special trade status known as “white country.”

Lawyer for Epstein accusers says wealthy sex offender may have bounty on his head

Countries, North America, Politics, Regions, Social Issues, USANo Comments

A lawyer representing several alleged victims of billionaire financier Jeffrey Epstein recently speculated that the convicted sex offender’s life may be in danger from people who do not want him to testify.

Spencer Kuvin represents three of Epstein’s many accusers. His comments came after news reports that Epstein, a former acquaintance of current US President Donald Trump as well as previous President Bill Clinton, had possibly attempted to kill himself in his jail cell last week.

According to various sources, Epstein was found lying on the floor of his cell in the fetal position, half-conscious with markings on his neck. Some speculated that he had attempted to hang himself, while others stated that Epstein’s may have staged the suicide attempt so as to be granted a transfer to a different jail.

In support of the latter theory, a source said Epstein’s injuries were superficial and inconsistent with a genuine suicide attempt.

Yet another theory holds that Epstein was assaulted by fellow inmates.

In response, Kuvin stated during an interview with the Sun Online:

“I question whether or not it was a true suicide attempt that Mr. Epstein was involved in in jail or whether or not there may be some powerful people who just don’t want him to talk.”

Kuvin seems to be implying, as others already have, that Epstein has incriminating information about certain individuals who have the power to prevent him from talking in court.

“If he goes on trial, everyone he’s been in contact with will ultimately be fair game,” Kuvin said, adding, “If he’s going to implicate anyone in power that has the ability to reach in and somehow get to him, his life is definitely in jeopardy.”

The 66-year-old was arrested and indicted earlier this month on sex trafficking charges. He stands accused of sexually assaulting dozens of underage girls—some as young as 14—at his properties in New York City and Palm Beach.

He has pleaded not guilty and faces up to 45 years in prison if convicted.

Epstein previously served a 13 month sentence after pleading guilty in 2008 to prostitution charges.

Did Elon Musk just violate the terms of his SEC agreement?

Financial News, Politics, Regulation News, Technology NewsNo Comments

This past March, Tesla CEO Elon Musk dubbed 2019 “the year of the solar roof.” In June, during the company’s annual shareholder meeting, he announced that Tesla was installing its solar roof in eight US states.

Then, just this week, Musk posted on Twitter that Tesla was aiming to produce around 1,000 solar roofs per week by the end of 2019.

“Spooling up production line rapidly,” he wrote in response to an inquiry from one of his more than 27 million Twitter followers. “Hoping to manufacture ~1000 solar roofs/week by end of this year.”

On its face the tweet seems unremarkable enough. However, as a number of news websites have pointed out, Musk recently signed an agreement with the US Securities and Exchange Commission (SEC). The agreement stipulates, among other things, that Musk obtain approval from one of his company’s securities lawyers prior to sharing any production numbers publicly that have not been shared before.

The agreement came about after the SEC claimed he had violated a settlement regarding previous tweets that (apparently falsely) indicated Tesla was preparing to go private.

The offending tweet that allegedly violated the settlement—and led to the recent SEC agreement—was posted in February and claimed that Tesla expected to make around half a million cars in 2019.

“Tesla made 0 cars in 2011,” Musk wrote on 20 February, “but will make around 500k in 2019.”

Now, in the wake of his solar roof tweet, people are questioning whether the SEC agreement has had the intended effect of reining in Musk’s behavior on social media. Tesla had not previously released any information about solar roof production numbers for 2019.

Bloomberg reports that the subject was not addressed in its second-quarter investor letter; nor was it mentioned by executives on a follow-up earning call.

According to the paper, Tesla personnel did not respond to questions about whether Musk got the required pre-approval, while SEC spokesperson Judy Burns declined to comment.