Anonymous ID: a173df March 6, 2020, 12:59 p.m. No.8335066   🗄️.is 🔗kun   >>5094 >>5230 >>5474 >>5577 >>5737

Black Lives Matter Member Elected To Lead Los Angeles’ Largest Teachers Union

 

A member of Black Lives Matter who was a keynote speaker at last year’s DSA National Convention has been elected president of the largest teachers union in Los Angeles.

 

She’s rallied against President Donald J. Trump. She’s pressured politicians to stop building new jails. At a school board meeting in 2017, she took a knee during the Pledge of Allegiance.

 

Cecily Myart-Cruz captured almost 69% of the vote last week when union members picked her to lead United Teachers Los Angeles (UTLA), which represents more than 30,000 educators, librarians, and counselors working in the nation’s second-largest public school system. The L.A. Times reports that Myart-Cruz is “the first woman of color” chosen for that position, adding, she “identifies as biracial, black and Latina” and “has long been part of the union’s activist wing.” She has 25 years of experience educating elementary and middle school kids.

 

“I see teaching as a revolutionary act, just the way I see organizing,” she has said.

 

She helped form a progressive caucus that gained control of UTLA in 2014, when she was elected as a vice president. The faction quickly changed the union from a service model to an organizing model, developing a plan that included children, parents, and local advocacy organizations.

UTLA partnered with Black Lives Matter and youth-led groups to push “racial justice” and education reforms within the L.A. Unified School District (LAUSD), which serves more than 600,000 students. According to the L.A. Times, “the overwhelming majority” of schoolkids come from low-income families. In a deal with the district that ended a six-day UTLA strike last year, Myart-Cruz claimed to have negotiated on student-activists’ behalf. Part of the agreement led to the end of a mandatory, random search policy, which had been in place since 1993. BLM members and students had joined UTLA on the picket lines.

 

http://www.domigood.com/2020/03/black-lives-matter-member-elected-to.html

Anonymous ID: a173df March 6, 2020, 1:02 p.m. No.8335077   🗄️.is 🔗kun

Boston Fed's Rosengren Says Fed May Soon Have To Buy Stocks

 

Three weeks ago, former Fed Chair Janet Yellen incepted the idea that during the next crisis, the Fed should consider expanding the range of assets it would purchase, most notably buying stocks. Our comment to this was that "thanks to Janet Yellen, we now we know that before the current fiat regime of central banks finally ends and before stocks go limits up as the revolution starts, the Fed will order a POMO of, well, everything in one final, last ditch effort to keep social stability by creating the impression that stocks are stable and rising even as society implodes."

 

Well, thanks to experiments conducted in a Chinese P-4 biolab, the next crisis appears to have arrived in the form of the coronavirus pandemic, and the idea of the Fed buying stocks is now on the agenda, case in point Boston President Eric Rosengren, who echoed Yellen, and said the Fed should be allowed to buy a broader range of assets - either by change of mandate or through a facility that allows it to buy stocks - if it lacks sufficient ammunition to fight off a recession with interest-rate cuts and bond purchases. In such a scenario, the US Treasury should indemnify the Fed against losses, Rosengren said in the text of remarks scheduled for delivery Friday in New York.

 

In a situation where both short-term interest rates and 10-year Treasury rates approach the zero lower bound, allowing the Federal Reserve to purchase a broader range of assets could be important.

 

Excerpt: “In such a case, as Marvin highlighted in his 1999 article, we should allow the central bank to purchase a broader range of securities or assets. Such a policy, however, would require a change in the Federal Reserve Act. … Alternatively, the Federal Reserve could consider a facility that could buy a broader set of assets, provided the Treasury agreed to provide indemnification.

 

Rosengren also warned the Fed would face greater challenge than in 2008 crisis when Fed’s benchmark rate was cut to nearly zero, because yields on longer-run Treasuries have fallen below 1%.

 

Fed Reluctant to Do an Emergency Cut, Says Julius Baer’s Matthews

"Such a situation would raise challenges policy makers did not face even during the Great Recession," he says at conference hosted by the Shadow Open Market Committee.

 

That said, Rosengren rejected the option of pushing the federal funds rate below zero in a recession, because somehow buying stocks rather than going NIRP makes more sense. Negative rates would harm banks and may make an economic recovery more difficult, he says

 

Goodfriend suggested that negative interest rates might be an effective policy tool in some situations – but Rosengren remains skeptical, saying the experience in Europe and Japan shows the adverse side effects are likely quite large.

 

Excerpt: “In my view, negative interest rates poorly position an economy to recover from a downturn. … I view the recent experience of countries with negative rates as evidence that such a policy would not be particularly successful in stimulating economic activity. … [Also,] we need banks to be healthy enough to provide credit and liquidity in challenging economic times.

 

Rosengren also pointed out something we had pounded the table on in the past, namely that dovish central bank policy is now deflationary, highlighting that in countries that employed negative rates since 2008, the impact on retirement savings and pension funds has incentivized more savings and less spending.

 

https://www.zerohedge.com/markets/boston-feds-rosengren-says-fed-may-soon-have-buy-stocks

Anonymous ID: a173df March 6, 2020, 1:03 p.m. No.8335084   🗄️.is 🔗kun   >>5173 >>5218 >>5242

Former Acting Inspector General for the U.S. Department of Homeland Security Indicted on Theft of Government Property and Scheme to Defraud the United States Government

 

https:///opa/pr/former-acting-inspector-general-us-department-homeland-security-indicted-theft-government

Anonymous ID: a173df March 6, 2020, 1:12 p.m. No.8335135   🗄️.is 🔗kun

Crowdstrike and Their PR Firm Now Distance Themselves from Russia’s Link to Wikileaks — HUGE DEVELOPMENT

 

For more than three years of the mainstream media (MSM) promoted the biggest fraud in US history – that the Russians hacked the DNC’s emails and gave the emails they hacked to WikiLeaks who then leaked the emails before the 2016 election.

Now, suddenly the firm at the center of this fraud, Crowdstrike, is taking a step back from their previous actions related to the entire sham.

For years now the FBI and Mueller investigation claimed that Russia hacked the DNC during the lead up to the 2016 election. This is central to the Russia-Collusion narrative. Roger Stone tried to obtain information in his trial that the Mueller team had evidence that Russia gave the emails they hacked from the DNC to WikiLeaks but corrupt Obama Appointed DC judge, Amy Berman Jackson, wouldn’t let him bring this up in his case, even though his charges were based on the entire scam

 

President Trump indicated that he knew Crowdstrike was at the center of the Russia collusion scam when he made his infamous phone call with the Ukraine’s new President Zelinsky. The President reportedly said the following:

 

60 Minutes went on to push the discredited Trump-Russia conspiracy.

 

Pelley, from 60 Minutes, used former anti-Trump Ambassador Bill Taylor, from the sham impeachment fiasco, as his expert witness on the Ukraine. Taylor claims he knew of no connection between Crowdstrike and the Ukraine. Pelley then shared the following in his report [emphasis added]:

Robert Johnston dealt directly with the FBI as an investigator of the DNC hack for CrowdStrike, a leading cyber security company hired by the Democrats. He told us the FBI didn’t physically examine the DNC servers because CrowdStrike gave the bureau copies of the data from the servers.

 

“If there is a server or a computer system of any kind that’s involved in the incident you can take an exact bit for bit digital copy of what’s on that system. Now that digital copy is just as good as having the real thing,” Johnston said.

 

“As far as you know, the FBI got what it needed and what it wanted?” Pelley asked Johnston.

 

“Exactly and evidence of that is you don’t hear the FBI complaining,” Johnston said.

 

https://www.thegatewaypundit.com/2020/03/breaking-exclusive-crowdstrike-and-their-pr-firm-now-distance-themselves-from-russias-link-to-wikileaks-huge-development/

Anonymous ID: a173df March 6, 2020, 1:21 p.m. No.8335199   🗄️.is 🔗kun   >>5210 >>5483

Bank Of America: "We Are In A Global Recession"

 

The market rushed to hit Michael Hartnett's "S&P price target of 3,333 by March 3 " more than a month early. And now comes the hangover.

 

With risk assets crashing, gold soaring, and bonds enjoying their biggest yield drop in years - if not ever -the time to pay the piper has come, and in his latest weekly Flow Show titled appropriately "Crashes, bubbles & leadership", the Bank of America CIO shows the YTD cross asset performance, and it is a clear indication that a deflationary black swan has made a hard landing in the middle of Wall Street, with gold the best performing asset for the first time in a decade:

 

gold 7.9%,

government bonds 3.8%,

IG bonds 2.8%,

US dollar 1.0%,

cash 0.3%,

HY bonds 0.0%,

global equities -4.8%,

commodities -14.5% YTD.

 

Of course, for gold to be soaring, risk has to be crashing, and sure enough, the global equity market cap collapsed by a record $9tn - or two-thirds of China's GDP - in 9 days, while developed market 10-year bond yields at 16bp, the lowest in 120 years.

 

t's not a uniform puke in stocks, because while EU banks (SX7E -25%), US airlines (-30%) are in a bear market "meltdown" with laggards e.g. FAANG stocks, IG bonds, and "credit event" tells such as private equity (PSB), levered loans (BKLN) & CLOs (CLODI) vulnerable to policy impotence, recession, default, according to Hartnett, China stocks are back to old highs, although where they would be without now explicit government support is anyone's guess.

 

But while governments may be buying risk assets to prop up markets, retail investors are puking, with $23.3BN in equity outflows (most since Aug'19), and $12.6BN in bond outflows, the most since Dec'18, as investors scramble for the safety of cash.

 

And speaking of bond flows, Hartnett concludes that the "bond bubble pops" with the 2nd biggest weekly outflow in IG/HY/EM debt ever of $16.1bn (biggest was 2013 Taper Tantrum )…

 

More

https://www.zerohedge.com/economics/bank-america-we-are-global-recession