4589-ARE WE NOW IN THE END TIMES? | View Thread

Global Markets Descend Into Contagious Panic As Italy Implodes

Tue, 05/29/2018 - 11:18

Commenting on today's sheer market chaos as the US and UK return from holiday, Bloomberg writes that "fixed-income markets have descended into panic amid mounting concern over the risk of Italy leaving the euro or leading to its break-up" and while Italy is suffering the biggest losses in peripheral debt, core bonds and Treasuries are spiking higher.

For those who stayed away from market news over the holiday weekend, this is what happened and why we are here today: Italy PM-designate Conte gave up on efforts of forming a government after Italian President Mattarella rejected Eurosceptic Paolo Savona for the Economy Minister position because the appointment would have “alarmed markets and investors, Italians and foreigners" (yes, very ironic in retrospect,although just as we predicted would happen). Mattarella then summoned former-IMF senior director Cottarelli to meet in a move viewed by some as laying the groundwork for a technocratic government. Forza Italia said they would not support this government, and 5SM and League set their sights on the now highly likely new elections (touted from September 9th). Both 5SM and League saying they will evaluate their coalition in these new elections.

Meanwhile, on Sunday Italian President Mattarella gave a mandate to form a government to ex-IMF official Cottarelli, while PM-designate Cottarelli accepted the mandate and sees elections at the start of next year. In related news, League leader Salvini said he hopes there will be a government in October for the approval of the budget law and to avoid a VAT increase and M5S leader Di Maio wants elections as soon as possible, while Forza Italia’s Berlusconi said his party will reject the Cottarelli government.

At the same time, the Spanish Parliament started the process for a no confidence vote against PM Rajoy, while it set the date for debate and vote of confidence on PM Rajoy's government for May 31st and June 1st.

In short: for those who missed the crazy, volatile days of 2011, here is your change to relive them, and here is the mandatory sea of red to go with it.

But what is different this time, is that while the risk-off sentiment is spreading across risk assets around the world, with Italy and Spain leading declines in European stocks and U.S. equity-index futures also sliding amid soaring contagion fears, with the euro also slammed below 1.16 pushing the yen and USD higher along with gold, it is unclear just what the ECB can do this time, which back in 2012 unleashed the threat of "whatever it takes" to halt the last Italian collapse.

Well this time, "whetever it takes" has been running non stop since July 2012, and the ECB is rapidly running out of bonds to monetize, so it may well be that we are finally approaching the end of the European experiment, unless of course Draghi gets a greenlight from Merkel to start monetizing everything - stocks, bonds, and anything else that is not nailed down - in hopes of stabilizing markets. And before it is all over, he will, just as Europe will file criminal charges against those who dare to short Italian bonds. For now, however, as we showed earlier, Italian bonds are crashing with 2Y yields plunging the most on record, Italian-German spreads exploding, Deutsche Bank stock tumbling below €10 for the first time since September 2016, and Italian bank CDS blowing out.

Hera are some of the key charts from this morning's Italian avalanche:

Italy 2Y yield and 1-day move:

Italy 10Y yield and 1-day move:

Italy-German Spread: one day move right out of the European crisis:

Italian stocks are crashing...

... with Italian banks now in a bear market. As Italian banks continue to bleed, trading has been periodically halted in Monte Paschi (-4.5%), Bper (-5.4%) and Banca Generali (-3.0%); all limit down.

The contagion is tangible: while the FTSE MIB is back to July lows, Spain's IBEX 35 is down the most since February...

... while the Stoxx 600 has fallen to an almost four-week low and is again trading below the level at the start of the year.

In fact, all major European benchmarks are also now in the red for 2018, except France’s CAC 40. Even more important, the declining euro isn't acting as a cushion for exporter-heavy indexes like the DAX, which is also heavily in the red today.

The downfall in Italian banks has spread across the continent with major losses for the likes of Commerzbank (-5.0%), BNP (-4.6%), RBS (-3.8%), Credit Suisse (-3.8%) all resting at the foot of their respective indices.Meanwhile, Europe's biggest bank, Deutsche Bank, is back under €10 and just shy of all time lows:

Euro back to July lows:

You get the picture.

In short, everyone is only focused on one thing: Italy’s domestic politics. As a reminder, Italian President Mattarella yesterday gave a futile mandate to ex-IMF official Cottarelli to form a technocratic government. Cottarelli’s list of Ministers is expected to be unveiled today, moving the process to a vote in the Italian parliament (League, 5 Star and Forza Italia have majority) where a snap election - now also dubbed a Euro referendum - appears inevitable.

The question now is what the ECB will do: not only how will Draghi stem this outright liquidation of everything Italian, but whether the ECB's tapering plans are now indefinitely postponed, and/or whether it is time for even more QE.

While Europe is once again a basket case, Asia traded mostly subdued as the region lacked impetus following the market closures in US and UK, while recent weakness in oil prices and political uncertainty surrounding Italy and Spain have added to the cautious tone. Nikkei 225 (-0.6%) was the worst performer as Japanese exporters suffered from flows into the JPY, while Japan Display shares led the declines in Tokyo with losses of over 20% seen in early trade after reports that Apple is to switch to OLED screens on all iPhone models from next year, which in turn underpinned South Korea’s LG Display. ASX 200 (+0.2%) was lifted by strength in its largest weighted financials sector and as energy names shrugged off the recent aggressive pull-back in crude prices. Shanghai Comp. (-0.5%) failed to maintain the early support from a firm PBoC liquidity operation and eventually slipped amid the broad risk-averse tone, while Hang Seng (-1.0%) was weighed by losses in blue-chip property and energy names.

In macro, aside from the ongoing "flight to safety" surge in the dollar which is now at the highest since November...

... the yen rallied against all G10 peers with USDJPY dropping to a one-month low; the Swiss franc was the other top performers while the U.S. 10-year yield fell to the lowest level in almost seven weeks as it played catchup to the sharp rally in Treasuries futures over the holiday.

Scandinavian currencies were the worst group-of-10 performers, weighed down by the souring risk global sentiment. Meanwhile, the pound fell to a fresh 6-month low against the dollar with Brexit uncertainty continuing to weigh on the currency amid a broader risk-off trend.

In geopolitical news, President Trump tweeted that a US team arrived in North Korea to make arrangement for summit between Trump and Kim Jong Un. South Korea President Moon met with North Korea leader Kim in an unannounced meeting over the weekend in which the latter affirmed commitment for denuclearisation. On Monday, the WSJ reported that the US is said to prepare new sanctions push against North Korea although reports later stated the US is to hold off on sanctions for summit talks, while South Korean press reported that US is said to demand that North Korea ship out its nuclear weapons and missiles.

In Brexit news, EU Negotiator Barnier said on Friday his scenario is to reach a realistic Brexit deal and that his worst-case scenario is not a no deal. On Saturday, Barnier warned the UK to stop playing ‘hide and seek’ and come to a realistic solution for their exit from the EU.

Elsewhere, WTI crude continues the declines seen on Monday trade (-2.0%) as traders continue to digest a possible OPEC+ production increase next month. Spreads are widening between WTI and Brent futures, with Brent currently up slightly on the day (+0.2%), as a result of a different settlement date for Brent.

In light of Europe's repeat crisis, it is probably not a surprise that Gold is currently trading higher and has broken the USD 1,300/oz level as safe-haven demand is proving some support for the yellow metal. Copper prices are seeing strength after the closure of an Indian copper smelter is cutting supply to the market. Steel rebar is higher as Chinese seasonal demand has grown.

Expected data include Conference Board Consumer Confidence and Dallas Fed Manufacturing Outlook. Bank of Nova Scotia, HP Inc. and Salesforce.com Inc. are among companies reporting earnings.

Market Snapshot

S&P 500 futures down 0.8% to 2,697.00
STOXX Europe 600 down 1.7% to 383.12
MXAP down 0.4% to 173.10
MXAPJ down 0.8% to 564.05
Nikkei down 0.6% to 22,358.43
Topix down 0.5% to 1,761.85
Hang Seng Index down 1% to 30,484.58
Shanghai Composite down 0.5% to 3,120.46
Sensex down 0.5% to 35,000.77
Australia S&P/ASX 200 up 0.2% to 6,013.56
Kospi down 0.9% to 2,457.25
German 10Y yield fell 14.8 bps to 0.196%
Euro down 0.7% to $1.1539
Italian 10Y yield rose 22.0 bps to 2.417%
Spanish 10Y yield rose 17.3 bps to 1.698%
Brent futures up 0.1% to $75.37/bbl
Gold spot up 0.2% to $1,302.15
U.S. Dollar Index up 0.6% to 95.00

Top Overnight News from BBG:

Italy’s populist leaders, incensed by a failed bid for power, began mobilizing for an early election even as premier-designate Carlo Cottarelli puts together a cabinet to present to the head of state
Italy’s Five Star Movement’s support drops to 29.5% from 31.1% a week earlier, League up to 27.5% from 24.5% in SWG opinion poll published on Tuesday
“We must never forget that we are only ever a few short steps away from the very serious risk of losing the irreplaceable asset of trust,” Bank of Italy governor and ECB Governing Council member Ignazio Visco says in speech in Rome
A gauge measuring the likelihood of Italy leaving the currency union within the next 12 months jumped to 11.3 percent in May from 3.6 percent in April, according to research group Sentix
A Bank of England spokesman refuted suggestions of a rift between the central bank and the U.K. Treasury after a report in the Financial Times said the institutions are at “loggerheads” over the future of City of London regulations after Brexit
Spain’s government nominated Pablo Hernandez de Cos to head the country’s central bank, backing a fiscal conservative for a job that includes a say in European monetary policy.
Oil headed for its longest run of losses since February as Saudi Arabia and Russia mull easing curbs on crude production as concerns grow over supply shortages
North Korean leader Kim Jong Un has dispatched one of his top aides to the U.S. for talks ahead of his planned summit with Donald Trump next month, according to a person familiar with the issue
The Fed should slow its pace of policy normalization to help re-align price expectations around 2 percent and maintain the credibility of its inflation target, Fed’s Bullard said Tuesday in Tokyo
The Turkish lira strengthened the most in the world on optimism the central bank’s decision to bring clarity to its interest-rate regime is a sign it may be able to fight the currency’s depreciation without pressure from President Recep Tayyip Erdogan. Stocks and bonds also rallied

Asia traded mostly subdued as region lacked impetus following the market closures in US and UK, while recent weakness in oil prices and political uncertainty surrounding Italy and Spain have added to the cautious tone. As such, Nikkei 225 (-0.6%) was the worst performer as Japanese exporters suffered from flows into the JPY, while Japan Display shares led the declines in Tokyo with losses of over 20% seen in early trade after reports that Apple is to switch to OLED screens on all iPhone models from next year, which in turn underpinned South Korea’s LG Display. ASX 200 (+0.2%) was lifted by strength in its largest weighted financials sector and as energy names shrugged off the recent aggressive pull-back in crude prices. Shanghai Comp. (-0.5%) failed to maintain the early support from a firm PBoC liquidity operation and eventually slipped amid the broad risk-averse tone, while Hang Seng (-1.0%) was weighed by losses in blue-chip property and energy names. Finally, 10yr JGBs were higher amid recent upside in T-notes and declines in US yields, although the gains for Japanese bonds were only modest amid a mixed 40yr auction which printed a higher b/c but lower prices from previous.

Top Asian News

China Is Said to Consider More U.S. Coal Imports to Cut Deficit
Japan Display, Sharp Slide on Report Apple to Use OLED Screens
JD Finance Said to Plan a Listing in China as Soon as 2019
China Is Likely to Approve Qualcomm NXP Acquisition, WSJ Says
Copper Supply Shock Hits India as Top Plant Ordered to Close

European equities continue to extend losses (Eurostoxx 50 -1.3%) as financials lead the sell off with the sector down almost 3%. Italian banks continue to bleed with trading halts in Monte Paschi (-4.5%), Bper (-6.3%) and Banca Generali (-4.5%); all limit down. The downfall in Italian banks has spread across the continent with major losses for the likes of Commerzbank (-3.4%), BNP (- 3.6%), RBS (-3.3%), Credit Suisse (-2.8%) all resting at the foot of their respective indices. Italy’s domestic politics remains in scope following Italian President Mattarella giving mandate to ex-IMF official Cottarelli to form a technocratic government. Cottarelli’s list of Ministers is expected to be unveiled today, moving the process to a vote in the Italian parliament (League, 5 Star and Forza Italia have majority) where a snap election appears inevitable. Italy will very much remain the focus as markets price in the uncertainty arising from a snap election. Elsewhere, Dixons Carphone (-19.6%) trades at the bottom of the Stoxx 600 following a profit warning for 2019

Top European News

Dixons Carphone Slumps 27% on Tough Outlook for U.K. Market
Standard Life Plans to Return $2.3 Billion to Shareholders
Intesa CEO Says Investors Are Pricing Italy Worst- Case Scenario
Nestle to Cut 500 Jobs as CEO Schneider Targets Home Country

In FX, the JPY benefitted most among G10/major currencies from the latest political turmoil in Italy, and to a lesser extent Spain, that has sparked broader risk-aversion and fresh EUR losses to ytd lows, around 125.05 for the cross and circa 1.1510 vs the USD, with very big barriers at 1.1550 breached. In terms of the DXY, the aforementioned Eur slide pushed the index to a new 2018 peak around 95.030, even though Usd/Jpy has retreated further below 109.00 and through a 108.79 Fib to test bids/support around 108.50, but with decent option expiry interest sitting between 108.80-90 (1.2 bn) perhaps limiting downside price action approaching the NY cut. GBP also a fall guy, partly in sympathy with the single currency, but also amidst yet more uncertainty over Brexit and of course UK political unrest, with Cable down through 1.3250 and almost hitting 1.3200 after taking out channel support at 1.3221, albeit briefly. CHF consolidating gains vs the Usd in the low 0.9900 area, but extending advances vs the Eur through 1.1500 and within striking distance of the 1.1447 ytd base, as a prominent US bank goes short for 1.1200 and places a stop at 1.1700. NZD/AUD/CAD: Less pronounced moves, but all weaker for choice of risk-off positioning with the Kiwi around 0.6925, Aud/Usd near 0.7530 and Loonie circa 1.3000. TRY: Bucking the overall trend and clawing back more losses as the Lira derives comfort from moves by the CBRT to simplify its monetary policy operations via officially targeting the 1 week repo rate. Usd/Try currently around 4.6000 vs 4.9000+ less than a week ago.

In commodities, WTI is continuing the declines seen on Monday trade (-1.4%) as traders continue to digest a possible OPEC+ production increase next month. Elsewhere, gold is currently trading upwards and has broken the USD 1,300/oz level as safe-haven demand is proving some support for the yellow metal. Copper prices are seeing strength after the closure of an Indian copper smelter is cutting supply to the market. Steel rebar is higher as Chinese seasonal demand has grown.

Looking at the day ahead, the main highlight in the US will be the May consumer confidence report, while the May Dallas Fed manufacturing activity index and March S&P/Case-Shiller home price index data are also due. Away from that, the OECD conference is also due to kick off (through to Thursday).

US Event Calendar

9am: S&P CoreLogic CS 20-City MoM SA, est. 0.7%, prior 0.83%; YoY NSA, est. 6.4%, prior 6.8%
10am: Conf. Board Consumer Confidence, est. 128, prior 128.7; Present Situation, prior 159.6; Expectations, prior 108.1
10:30am: Dallas Fed Manf. Activity, est. 23, prior 21.8
12:40am: Fed’s Bullard Speaks in Tokyo

DB's Jim Reid concludes the overnight wrap

On paper yesterday should have been one of the quietest trading days of the year with both the US and UK out on holiday. However Italian yields slipped faster than a ball through a Liverpool goalkeeper’s hands as the country’s bond market had a remarkable day. Picture the scene, you are sitting on a European trading floor and as you get breakfast at your desk, Italian 2 year yields have already rallied 21bps to 0.25% after the weekend news that Italy’s President Mattarella blocked the appointment of Paolo Savona as Finance Minister due to his Eurosceptic credentials. On this news the populist coalition collapsed. At that point the market welcomed the appointment of ex-IMF Carlo Cottarelli to run a technocratic administration.

However by late morning fears abounded that this could backfire and make the populists even more popular and with more power when fresh elections are held. So within 2-3 hours we were trading close to 0.96% on the 2 year where they stayed for most of the day before dipping to 0.87% at the close. All in all, a 70.7bps range on the day and +40.7bp wider from Friday’s close.

To put this in perspective we downloaded the available daily G7 + Spain 2 year yields data since 1986 from Bloomberg to see what the biggest daily 2 year moves have been for major economies. Starting with the Italian 2y BTPs, yesterday’s +40.7bp move was the 13th largest daily move over the past 19 years. Notably, if we exclude the 2011/2012 crisis periods, yesterday’s move was actually the second highest print. Compared to its peers, the change was equally remarkable with Spain having had only 11 days over the past 25 years where its 2yr yields posted larger daily moves than 2 yr BTPs yesterday while the data for the other countries are: Canada 10 days, Gilts 4 days, US and France 1 day, and Germany and Japan zero days. Alternatively, if we assume yesterday’s intra-day move of +70.7bp for BTPs was held into the close, this would be the third equal highest daily change across all of our chosen peers, with the two higher prints being 2 yr BTPs back in November 2011 (+81bp) and 2yr Spanish bonds in July 2012 (+76.4bp). So an extraordinary day and move.

Elsewhere, a flight to safety yesterday boosted Core European bonds with Bunds 10y yields down to the lowest in five months (-6.2bp) while OATs also fell -1.5bp. Conversely, peripherals materially underperformed with 10y BTPs up 22.1bp while Portugal (+11.2bp) and Spain (+5.9bp) also rose in sympathy. Meanwhile the spread between 10y Bunds and BTPs are at 233bp, the highest since December 2013.

Over in equities, European bourses were weighed down by the Italian uncertainties with the Stoxx 600 (-0.32%) and DAX (-0.58%) both modestly lower. Within the Stoxx, the energy sector led the losses (-0.96%) as WTI oil fell for the fifth straight day (-1.3%; -7.4% cumulative from the recent peak 5 days ago) as Saudi Arabia and Russia both signalled potentially higher oil supply. Across the region, Italy’s FTSE MIB fell -2.08% with Italian banks hit the hardest, as Banca Monte dei Paschi dropped -7.1% while Unicredit and Intesa Sanpaolo fell -3.8% and -3.2%, respectively.

Following on with Italy, the latest news is that Cottarelli will need to go to Parliament over the next day or so for a vote of confidence that will likely determine whether we get fresh elections as early as August/September (if he loses) or early next year (if he wins it). The President has determined that this was always going to be a short-term administration so Cottarelli and ministers are not expected to stand in the fresh election. According to DB’s Clemente De Lucia it’s highly likely he will lose as Five Star and League have been saying for a while that they will not support a technocrat government. They reaffirmed this yesterday as did Berlusconi who said his Party will vote against Cottarelli.

Indeed it seems Di Maio is intent on mobilising 5SM party supporters as he is calling for a big demonstration against President Mattarella on June 2nd (the Republic Day) in Rome as he noted “I call on citizens to mobilize, make yourselves heard”. Similarly, the League’s Salvini also called for protests over the weekend and said “today Italy is not free, it’s occupied financially by Germans, French and Eurocrats” and that “the upcoming elections will be…a real and true referendum…between who wants Italy to be a free country and who wants it to be servile and enslaved”. In many ways we shouldn’t be surprised by political turmoil in Italy. A stat we regularly discuss is that Italy have had 90 governments in around 116 years.

Last week’s nearly Government doesn’t even count here. Speaking to DB’s Mark Wall and Clemente De Lucia last night they believe that the rest of the EU wants to avoid an immediate confrontation with Italy on policy. Europe will wait for a government to be formed and assess the policies it implements rather than escalate tensions on the basis of proposed policy. This avoids giving the populists something to capitalise on. In the meantime, Europe is probably not averse to letting the market express its opinion on the sustainability of the mooted policies as long as the market reaction is controlled, contagion is avoided, and there is no unwarranted tightening of financial conditions.

Also Mark thinks the extended hiatus on a political government emerging in Rome means lingering uncertainty elsewhere. This risks complicating the ECB’s path to switching off QE and the EU Council’s plans to gain agreement on euro area institutional reforms this summer. The uncertainty is also an additional headwind to an economic cycle facing more constraints in 2018 than was originally expected. As the cyclical tide goes out, the euro area’s structural deficiencies are being revealed once again. So it’s going to be a fascinating summer for Europe as the Italian political situation crashes into the start of the ECB’s preferred timetable for announcing the exit from QE.

Over in Spanish politics now, the leader of the fourth largest party (Ciudadanos) Mr Rivera noted that he won’t back the Socialists Party’s no confidence motion against PM Rajoy for now, but wants PM Rajoy to agree to a new snap election in the fall which would allow an orderly end to the legislature. Elsewhere, the latest poll by El Espanol projected Mr Rivera’s Ciudadanos Party could triple its number of seats to become the biggest party if new elections were held, while support for the ruling People’s Party could collapse and the Socialists Party would be little changed. So this story is bubbling under the surface while the Italian story is truly bubbling above the surface.

This morning in Asia, markets are modestly lower with the Nikkei (-0.88%), Kospi (-0.65%), Hang Seng (-0.62%) and Shanghai Comp. (-0.59%) all down. Meanwhile, futures on the S&P are marginally higher while UST 10y yields are c3bp lower. Elsewhere, the US / North Korea’s meeting on 12th June looks to be back on again as President Trump confirmed that “our US team has arrived in NK to make arrangements for the Summit between Kim and myself”. Datawise, Japan’s April jobless rate was in line and steady mom at 2.5%.

Now recapping other markets performance from yesterday. The US dollar index firmed 0.18% while the Euro reversed gains of c0.7% to close -0.22% lower to a fresh six month low, as the Italian uncertainties played out during the day. Elsewhere, the Turkish Lira jumped 2.8% vs. USD as its central bank simplified its monetary policy, now allowing its one-week repo rate to be the same as the current policy rate of 16.5%. DB’s Kubilay Ozturk believes the move is a belated yet strong response from the MPC. While simplification is welcome, the team still thinks the Bank will complete its response by re-calibrating its new single rate by (at least) another 100bps along with a shift to a single policy rate on the June 7th meeting. They believe delivering such a response at the MPC meeting would be a major positive.

Looking at the day ahead, in Europe we've got April money supply data for the Euro area and the May consumer confidence reading in France due. The ECB's Villeroy is also due to speak again, followed by the ECB's Visco, Mersch, Lautenschlaeger and Coeure. In the afternoon the main highlight in the US will be the May consumer confidence report, while the May Dallas Fed manufacturing activity index and March S&P/Case-Shiller home price index data are also due. Away from that, the OECD conference is also due to kick off (through to Thursday).

(zerohedge.com)

Am I self-sabotaging because the world’s going to end?

By Eve Andrews on May 24, 2018

Q. Dear Umbra,

My ex-boyfriend was a pretty big jerk when we dated. He called me a hypocrite for my environmental beliefs and was pretty condescending in general. Now, years later, we’re “friends.”

We have loads of fun together because we like to do all the same things, like drink beer and read children’s books out loud. So every time I fly across the country for a visit home, I end up seeing him. Of course, he’s still manipulative and noncommittal, and I feel really down after we see each other. But I do it anyway.

And I think it has something to do with climate change. If the future is going to be as bleak as scientists predict, shouldn’t I have as much fun while I can? Am I taking advantage of my youth before the world descends into drought-ridden chaos? Or is this just self-sabotage?

Angstily,
In Protest of Carbon and Condescension!

A. Dear IPCC,

I’m sorry, but I’m going to reference Freud, the father of psychoanalysis, for a second — as well as Sabina Spielrein, his less-famous colleague.

Freud argued that we are innately driven by the “pleasure principle,” which basically means the need to feel good all the time. However, Spielrein pointed out that the pleasure principle doesn’t address the part of ourselves that makes us engage in dumb, self-destructive shenanigans.

“At our core, there is something that, however paradoxical it may seem a priori, seeks this self-harm, since the Self reacts to it with pleasure,” wrote Spielrein in her 1912 landmark essay, “Destruction as the Cause of Coming Into Being.”

Some Freudian scholars believe that Spielrein’s concepts formed the foundation of Freud’s later theory of “death drives,” which proposes that “the goal of all life is death.”

But you almost never hear about Spielrein as anything more than Carl Jung’s slampiece, because she was a woman in the early 20th century who spent too much time with men who loved cocaine and hearing themselves talk. You might say she was engaging in some self-sabotaging behavior!

There’s a theory, in certain psychoanalytic circles, that there are echoes of Freud and Spielrein in our collective human approach to climate change. Here’s Susan Kassouf, in an academic paper:

“In our collective reaction of inertia to environmental destruction, are we witnessing the psychotic depression of our culture ‘bent upon suicide by self-neglect’? … If not sociopathic, pathologically narcissistic, or even perverse, we might indeed describe as deranged such behavior in which we act as though climate has not always informed and is not now radically altering our world.”

There are some parallels between your behavior with your ex and human behavior with regard to climate change, you have to admit: Even though you know the apocalyptic climate outcome of a jet-setting culture, you still get on that plane. And even though your ex makes you feel upset, you still see him. (“See” him. OK, girl!)

In your defense, the way our culture is set up makes it pretty hard to not fly. There are a lot of systemic changes that need to be put into place to address the lack of other options. But no systemic changes need to be made for you to stop seeing your ex. Unfortunately, that’s on you.

I called Ellen Hendriksen, an author and clinical psychologist at Boston University’s Center for Anxiety and Related Disorders, to talk about the concept of “self-sabotage.” Fundamentally, it comes from fears of failure or loss of control. Relationships are a prime opportunity for self-sabotage, Hendriksen explains, because you never have any control to begin with. You can’t control another person.

But after I read her your question, she put forward another theory: You’re looking for a justification to see him because you’re avoiding a change. “Avoidance drives most mental health problems — especially anxiety,” Hendriksen says. (Again — we can draw some obvious climate change parallels!)

Even though your ex might be condescending and manipulative, he was at one point a constant in your life. Someone you relied on for the highly addictive cocktail of emotional support, comfort, and affection. It’s really hard to give those people up! It’s why I have tried to sustain a friendship with every ex I’ve ever had, usually to disastrous result.

And modern life requires reckoning with some deeply unsettling information day in and day out! Who wouldn’t want to keep as much comfort and familiarity around as possible?

But you clearly recognize that this relationship isn’t good for you, or you wouldn’t be writing in to an internet advice column. In my experience, this means that you’ve discussed this issue so exhaustively with your friends that they’re now threatening to block your texts, so you’ve turned to me, a stranger. That means that this situation isn’t actually offering you much comfort anymore.

So many of us have known men like your ex! One day you’re six beers in readingWhere The Wild Things Are and everything is heaven, the next, you’re weeping into your bagel: “Why doesn’t he want to be with me for real?” It’s a terrific feeling, followed by a terrible feeling. To return to Freud: It’s kind of like cocaine!

To paraphrase the infinitely wise Kirsten Cohen in Episode 14 of Season 1 of The O.C.: If your whole life is about fun, are you even having any? If you believe that the world is coming to an end and that you should just have really immediate fun all the time, that doesn’t change the fact that that type of fun has a quickly diminishing marginal return.

Because the world very well might not end — despite what the doomsday nature of the news cycle has driven into your psyche — and then you’re just there, not having any fun, and you’re probably standing in the middle of a hideous mess of your own making. Your demise is not set in stone. You have permission to think about and plan for your own long-term pleasure! Your future self deserves some enjoyment, too.

Mit liebe,
Umbra

(GRIST)

by Julian Rose

For decades Palestinians have lived on the edge of annihilation, their homeland steadily annexed until just a slither of the original remains. It's a story that just won't go away, even for those thousands of miles away, who try to cover their ears and eyes from the shame which has befallen the ruthless oppressor of this now tiny peninsular of land and its battle weary people.

In 1975, I worked on a kibbutz called Rosh Hanikra, in Northern Israel. It's main income was derived from intensive commercial avocado pear production. There were maybe four hundred inhabitants. The social experiment known as kibbutziem grew up after World War Two, when thousands of European Jews,who had survived Hitler's pogroms, moved to Israel, with the intent of making it their new home.

The kibbutziem movement was developed as a series of agricultural land-based settlements, often established on very poor land which was gradually worked into productivity. At Rosh Hanikra we all ate together in a large dining hall and slept in small houses dotted around the central area. No one 'owned' the land or homes, the kibbutz was established as a collective, and those who remained part of the movement for the longest acquired certain privileges.

That is how it worked, and I was there as a volunteer for a brief period, my interest being directly connected to an exploration of alternative models of land settlement, with a view to the future of the UK country estate I had inherited on the death of my father some years earlier.

One day I left the kibbutz in order to visit a wise elder in Tel Aviv. In the course of our conversations about the land settlements, he told me something of great interest. He said that the word Israel, in the original Hebrew, means 'to strive with God' and that this has been covered-up by the extreme right wing Zionist element, who insist that Israel is the name of the country that had been Palestine up until the 1918 Balfour Declaration created the 'two state' position that – on paper – remains the reality today.

So perhaps Israel, I thought to myself, was never meant to be 'a place' at all, more a way of life – a commitment to 'work with God'. And if so, what did this mean in the light of the claim that this geographical area of land at the Eastern end of the Mediterranean - is the 'homeland' of the Jewish tribes?

This explanation by the wise elder stuck with me; it presented a whole new understanding of – and possibly for – the resolution of the seemingly intractable Palestine/ Israel crisis.

If, by definition, the sons and daughters of Israel have mistaken a 'material place' for a 'spiritual mission' this would indeed be a profoundly significant misunderstanding. One that, should it be admitted to, could change the course of history.

Three weeks ago I read this headline to a story written by the seasoned journalist Robert Fisk foreign correspondent of The Independent: “How long after the Gaza massacre are we going to continue pretending that the Palestinians are non-people?”

Fisk, who belongs to that rare community of journalists who seek to communicate the truth, exposes the horror of the Gaza front-line massacre of Palestinians who got too close to the security fence that separates Gaza from the Israel border. Sixty men, women – and one child – shot dead in just one day and two thousand four hundred wounded. Not one Israeli suffered even a wound, as Palestinian youths threw stones and launched burning kites against live rounds of ammunition; each round targetted to kill.

As this carnage raged on the Gaza border, Jared Kushnev, Donald Trump's son-in-law, was opening the new American Embassy in Jerusalem, amidst a smartly dressed entourage of Zionist evangelicals. Pronouncer's of the view that this event was a portent and precursor of the great apocalypse and subsequent return of the Saviour. A time when Jews will return to the 'homeland', and those who fail to convert to Zionism will meet a fiery fate in the underworld.

Those who gathered inside the new US Embassy in Jerusalem, believe that any amount of cold blooded murders are worth it, in order for Jerusalem to be recognised as the Jewish capital of Israel, to the complete exclusion of Palestinian claims to the same end.

“It's a great day for peace” declared Benjamin Netanyahu, as unarmed Palestinians were simultaneously being picked-off by the Israeli military on the Gaza border. And Donald Trump no doubt echoed this view, as it is ever more apparent that he walks in Netanyahu's shoes in every way, other than literally.

It's been seventy years now that Palestinians have been protesting their dispossession at the hands of those who refused to uphold the land resource split agreed in the Balfour Declaration; itself a compromised piece of legislation. Many Palestinians fled across the border to Lebanon during the vicious pogroms that flared-up in the post World War Two resettlement period. Some no doubt joined Hamas, which was formed to try and protect village communities against the ceaseless land grabs perpetuated by Israeli hard liners.

I remember the occasional missile flying over Rosh Hanikra kibbutz back in 1975, from the Lebanese side of the border – and how no one paid much attention - as any damage done on the Israeli side would be paid back five fold on the Lebanese side. It has been a desperately one sided struggle from the outset. Not surprisingly, when we know that the US Senate approves copious funds to bolster the military cause of the 'One Israel' fanatics.

After my work experience on the kibbutz, I journeyed to Jerusalem and then down into Arab Jordan. I remember gaining the distinct impression about the two cultures as, I travelled. The Israelis, being composed mostly of resettled Europeans and Americans, were culturally Westernised and mostly intellectual by disposition. Whereas the Jordanian Arabs, indigenous natives of the Middle East, were openly warm and naturally inclined to expressing emotion, by disposition.

My overriding impression was that the two cultures represent two parts of one whole; both having characteristics that – if put together – would be complementary and form a positive sense of balance. I believe that such a positive resolution would indeed have been the likely outcome if the hard-line Zionist faction had not gained a predominant position of control in Israeli politics from an early point in the history of the Country.

We are forced back into the observation that the Rothschild, Rockefeller, Soros dynasty, with its strong affiliation to The Project for the New American Century, The Trilateral Commission and the Bilderbergers, have maintained an as yet unbroken influence on the evolution of Israeli politics. Successfully establishing the old 'divide and conquer' technique to ensure that the tunnel vision hard-liners remain in the top seats of power.

This inflames the whole Middle East, as the game plan of this cabal has always been to destroy the indigenous sense of unity of this region and replace it with a form of military dictatorship, funded and directed by the advocates of a totalitarian New World Order, in which the 'elite-by-blood-line' remain permanently in the driving seat. A direct extension of the Third Reich, with its openly stated genocidal and eugenics ambitions.

The demographic position of Israel gives it important geopolitical influence over international trade routes using the Suez Canal, as well as to surrounding countries rich in natural resources, especially oil. Keeping the Country firmly locked into serving as an outpost for these, as well as closely related Western hegemonic interests, plays a significant role in the choice of Israel's leadership, and from where the financial support for this leadership comes.

As the Middle East crisis continues to be fanned by such die-hard despots, people are waking-up and beginning to see through the deception. The affect this is having is to trigger a clamp-down on any criticism of the Zionist cause. For it has suddenly become a weaponized subject, for which even the fundamental right to 'freedom of speech' must apparently be curtailed.

We have already witnessed a savage attack on the UK Labour Party and its leader Jeremy Corbyn, for supposedly harbouring anti-semitic sympathies; but in actuality, it is much more likely that certain individuals were simply telling some of the same truths as I attempt to convey in this article. The instigators of this attack were the British Association of Jews and Friends of Israel. The most astonishing aspect of it was a letter sent to Corbyn co signed by the leaders of these organisations, which demanded that he take action to weed-out the supposedly anti-semite trouble makers from his party.

Corbyn was informed that he must supply proof of his complying with this demand within a month, and only after considering this evidence would they decide whether or not to black list his party.

Here we witness all the same symptoms of authoritarian despotism that are behind Netanyahu's attempts to crush the Palestinian cause and the continued resistance which it so courageously maintains. Aside from the absurdly biased challenge on the British Labour Party, the instigators antagonistically assume the moral high ground that gives them the right to dictate the terms.

Donald Trump's deliberately provocative decision to move the US Embassy out of Tel Aviv and into Jerusalem, is an action carried out in order to cement continued far right support for Netanyahu's government and its policy of eradicating any and all opposition to a 'One State' Israel. We have thus arrived at an incendiary position of conflict which continues to drag neighbouring countries into the cauldron.

The Gaza killings have provoked the United Nations to call for an independent investigation into war crimes committed by Israeli troops. The only nations to vote against this proposal were the USA and Australia. But such investigations never seem to come to any definitive resolution, as the UN itself has strong links to the global power brokers, and is more 'a front' for temporarily defusing conflicts than a genuine arbitrator for justice.

I left Kibbutz Rosh Hanikra in the Summer of 1975 and returned to England to attend an important conference on organic farming methods. The conference was run by the Soil Association and its chairman was Lady Eve Balfour, the grand-daughter of Lord Arthur Balfour who established the 1918 declaration that divided Palestine into two. Although the two state system has – in principle - survived, it has been repeatedly violated by the establishment of illegal Israeli colonies on land appropriated from Arabs who had owned and lived on it for generations.

The seemingly intractable nature of this conflict seems to defy a positive and peaceful resolution. But such situations demand creative solutions – and even if one has to dig deep to find them – the effort must be made.

Could it be that the words of the wise elder I met in Tel Aviv back in 1975, might hold the key to unlocking the truth? Perhaps he was right, and that Israel is not actually a geographical place at all - but an aspiration – a ancient commitment to 'work with God'. And if this God is the same deity as He who gave birth to the dazzling Universe, then Israel would indeed be a name that many a wise being would cherish and hold in honour. A name that would be the harbinger of peace and reconciliation instead of war and division. A message of deep meaning not just to the Middle East, but to all inhabitants of planet Earth.

Let us meditate on that. Hold that conclusion in our minds and hearts, and thereby play our role in resolving this tragic conflict.

__________

The author is an early pioneer of organic farming, an international activist, writer and social entrepreneur. He is President of The International Coalition to Protect the Polish Countryside and is the author of two acclaimed titles 'Changing Course for Life' and 'In Defence of life' both of which are available via his website www.julianrose.info . His third book 'Beyond the Mechanistic Mind' will be out shortly.

Luis Miguel 1162 61587 Lima	RE: ARE WE NOW IN THE END TIMES? 5/30/2018 7:03:25 PM
	A son helped plan a ‘fake robbery’ of his father’s guns, police say. He and his parents ended up dead. By Meagan FlynnMay 30 at 6:06 AM Ruth Correa, 23, is charged in connection with the deaths of Matthew Lindquist and his parents of Griswold, Conn., following a botched “fake robbery.” (FOX61) Matthew Lindquist was getting impatient waiting for the fake burglars to show up at his family home in Griswold, Conn., in the early-morning hours of Dec. 20. “U almost here or what,” Lindquist, 21, wrote in a text message to the man running late, a little past midnight. “Don’t pull in any drive way just go up road and turn lights off.” Lindquist and the man had a plan: The man was supposed to give him drugs in exchange for guns belonging to Lindquist’s father after his dad went to sleep, according to court records containing text messages between them. Lindquist would be in the house. The fake burglar would tie Lindquist to a chair to make the scene look authentic, according to the affidavit. And when police arrived, he would tell them that “two black guys” were responsible for robbing his dad’s gun safe. It was bolted to the ground, so Lindquist asked the man via text, “Yo bro … Can you pick the lock??” But nothing went according to plan. By the end of the night, Lindquist would be dead, his parents would be dead, his house would be nearly burned to the ground, and the guns would be missing from the safe. For months, Lindquist’s body would be missing, too, leading police to suspect him as a person of interest. But then police interviewed Ruth Correa, the woman who was in the car with the man who allegedly promised Lindquist drugs in exchange for the guns on Dec. 20. [A son helped plan a fake robbery of his father’s guns. Police say he and his parents ended up dead.] She was arrested May 12 after telling police everything that happened after they pulled up on Lindquist’s street. Her arrest affidavit, containing her interview with police, was unsealed Tuesday. Her attorney could not immediately be reached for comment. (The Washington Post is not identifying the man who allegedly plotted with Lindquist that night because he has not been charged.) According to court documents, Correa and the man arrived just before 1 a.m. — later than Lindquist expected. Lindquist hopped into the back seat of the car as it rolled up his street, its headlights off. He immediately asked the man whether he brought the drugs, Correa later told police. The man — whom Correa called her “brother” because they were raised together — said Lindquist wouldn’t be getting any drugs until he got what was promised: the guns. [Woman blames death of Griswold family on botched fake robbery] They discussed the “fake robbery” plan further, Correa said. But then, she said, Lindquist became “panicky and fidgety” as they got out of the car. He tried to run away, Correa said, so her brother chased him with a machete and hit him in the back of the head. The man told Lindquist that he was “supposed to be his boy” but that now he could not trust him. He threatened to tie Lindquist up for real, with zip ties and duct tape over his mouth. That’s when Lindquist started to “yell and freak out,” Correa said. She told police that her brother began stabbing him, and Correa said she also stabbed Lindquist in the chest “about 10 times.” They continued into the house to get what her brother came for, Correa said, according to the affidavit, leaving Lindquist in the woods. They knew the basement door would be unlocked because Lindquist had told them. But they apparently didn’t anticipate running into his father. Correa told police that her brother started hitting Kenneth Lindquist with a baseball bat, while she fought off the family dog with a golf club she had taken from the car. When Janet Lindquist, Kenneth’s wife, came out of another room, aghast at the scene, Correa said she grabbed Janet by the hand, pulled her into a bedroom and told her “she did not have to see this.” She said she urged Janet to just give them the keys to the gun safe and they would go. Janet asked why this was happening. “Ruth said she explained to her that the reason why this was happening was because her son had set her up,” the police affidavit states. Correa’s brother had apparently already obtained the guns from the safe, Correa said, because he came into the room and pointed a rifle at Janet while Correa went snooping around the house for things to steal. She made three trips out to the car, she told police. She returned to find her brother choking the woman to death when she tried to reach for a phone, Correa said. She said she saw Kenneth Lindquist in the hallway but didn’t know what had happened. Before they left, she said, she poured flammable liquid all over the basement, and then her brother lit an exercise ball on fire. When they walked outside, she remembered hearing birds chirping. It was still dark when they got in Matthew Lindquist’s car and drove away with all the stolen property in the trunk, she said. By the time the Connecticut State Police and the Griswold Fire Department arrived at the Lindquist home — about 5:45 a.m., according to court records — it was engulfed in flames, reduced to its wooden frame as the roaring fire ate through the walls. About the same time, roughly 40 miles away, police in Glastonbury, Conn., responded to a vehicle fire. The car was registered to Matthew Lindquist, and it didn’t take police long to realize the two fires were connected. But Lindquist was nowhere to be found. His parents were soon pulled from the rubble of their home. Informed of what happened, Matthew Lindquist’s older brother told police that he had just talked to his dad the previous night, and that Kenneth said they had been having problems with Matthew because he was abusing illegal and prescribed narcotics again. A neighbor also said that despite the drug issues, everything seemed to be going better for Matthew — until he lost his job earlier that week. By Dec. 28, the Connecticut State Police considered Matthew Lindquist the main person of interest in the deaths of his parents, which the medical examiner ruled homicides. The police asked the public for help locating him. The whole time, his body was lying in the woods 1,500 feet from his home. A dog walker found his remains there May 5. Correa and her brother became targets of the investigation after police discovered the text messages on Lindquist’s phone in January. About the same time, an apartment security guard came forward to reveal that a woman named Ruth Correa told him a terrible story about how she and another man killed three family members while robbing their home before setting it on fire. Police interviewed her brother first. Upon showing him a photo of Matthew Lindquist, the man paused, then he said he was not involved with “his business,” according to the police affidavit. He then contacted his lawyer, who, according to the Hartford Courant, “maintains he had nothing to do with this.” Police arrested Correa on May 12, a day after her interview with police. She is charged with murder, first-degree arson, home invasion and first-degree robbery, and has not entered a plea. She is being held on $2.5 million bond. Announcing the breakthrough in the case in a news release, the Connecticut State Police said “detectives anticipate additional arrests.” (The Washington Post)
	"Choose a job you love and you will not have to work a day in your life" (Confucius)
	+1

Luis Miguel 1162 61587 Lima	RE: ARE WE NOW IN THE END TIMES? 5/30/2018 11:18:08 PM
	Global Markets Descend Into Contagious Panic As Italy Implodes by Tyler Durden Tue, 05/29/2018 - 11:18 Commenting on today's sheer market chaos as the US and UK return from holiday, Bloomberg writes that "fixed-income markets have descended into panic amid mounting concern over the risk of Italy leaving the euro or leading to its break-up" and while Italy is suffering the biggest losses in peripheral debt, core bonds and Treasuries are spiking higher. For those who stayed away from market news over the holiday weekend, this is what happened and why we are here today: Italy PM-designate Conte gave up on efforts of forming a government after Italian President Mattarella rejected Eurosceptic Paolo Savona for the Economy Minister position because the appointment would have “alarmed markets and investors, Italians and foreigners" (yes, very ironic in retrospect,although just as we predicted would happen). Mattarella then summoned former-IMF senior director Cottarelli to meet in a move viewed by some as laying the groundwork for a technocratic government. Forza Italia said they would not support this government, and 5SM and League set their sights on the now highly likely new elections (touted from September 9th). Both 5SM and League saying they will evaluate their coalition in these new elections. Meanwhile, on Sunday Italian President Mattarella gave a mandate to form a government to ex-IMF official Cottarelli, while PM-designate Cottarelli accepted the mandate and sees elections at the start of next year. In related news, League leader Salvini said he hopes there will be a government in October for the approval of the budget law and to avoid a VAT increase and M5S leader Di Maio wants elections as soon as possible, while Forza Italia’s Berlusconi said his party will reject the Cottarelli government. At the same time, the Spanish Parliament started the process for a no confidence vote against PM Rajoy, while it set the date for debate and vote of confidence on PM Rajoy's government for May 31st and June 1st. In short: for those who missed the crazy, volatile days of 2011, here is your change to relive them, and here is the mandatory sea of red to go with it. But what is different this time, is that while the risk-off sentiment is spreading across risk assets around the world, with Italy and Spain leading declines in European stocks and U.S. equity-index futures also sliding amid soaring contagion fears, with the euro also slammed below 1.16 pushing the yen and USD higher along with gold, it is unclear just what the ECB can do this time, which back in 2012 unleashed the threat of "whatever it takes" to halt the last Italian collapse. Well this time, "whetever it takes" has been running non stop since July 2012, and the ECB is rapidly running out of bonds to monetize, so it may well be that we are finally approaching the end of the European experiment, unless of course Draghi gets a greenlight from Merkel to start monetizing everything - stocks, bonds, and anything else that is not nailed down - in hopes of stabilizing markets. And before it is all over, he will, just as Europe will file criminal charges against those who dare to short Italian bonds. For now, however, as we showed earlier, Italian bonds are crashing with 2Y yields plunging the most on record, Italian-German spreads exploding, Deutsche Bank stock tumbling below €10 for the first time since September 2016, and Italian bank CDS blowing out. Hera are some of the key charts from this morning's Italian avalanche: Italy 2Y yield and 1-day move: Italy 10Y yield and 1-day move: Italy-German Spread: one day move right out of the European crisis: Italian stocks are crashing... ... with Italian banks now in a bear market. As Italian banks continue to bleed, trading has been periodically halted in Monte Paschi (-4.5%), Bper (-5.4%) and Banca Generali (-3.0%); all limit down. The contagion is tangible: while the FTSE MIB is back to July lows, Spain's IBEX 35 is down the most since February... ... while the Stoxx 600 has fallen to an almost four-week low and is again trading below the level at the start of the year. In fact, all major European benchmarks are also now in the red for 2018, except France’s CAC 40. Even more important, the declining euro isn't acting as a cushion for exporter-heavy indexes like the DAX, which is also heavily in the red today. The downfall in Italian banks has spread across the continent with major losses for the likes of Commerzbank (-5.0%), BNP (-4.6%), RBS (-3.8%), Credit Suisse (-3.8%) all resting at the foot of their respective indices.Meanwhile, Europe's biggest bank, Deutsche Bank, is back under €10 and just shy of all time lows: Euro back to July lows: You get the picture. In short, everyone is only focused on one thing: Italy’s domestic politics. As a reminder, Italian President Mattarella yesterday gave a futile mandate to ex-IMF official Cottarelli to form a technocratic government. Cottarelli’s list of Ministers is expected to be unveiled today, moving the process to a vote in the Italian parliament (League, 5 Star and Forza Italia have majority) where a snap election - now also dubbed a Euro referendum - appears inevitable. The question now is what the ECB will do: not only how will Draghi stem this outright liquidation of everything Italian, but whether the ECB's tapering plans are now indefinitely postponed, and/or whether it is time for even more QE. While Europe is once again a basket case, Asia traded mostly subdued as the region lacked impetus following the market closures in US and UK, while recent weakness in oil prices and political uncertainty surrounding Italy and Spain have added to the cautious tone. Nikkei 225 (-0.6%) was the worst performer as Japanese exporters suffered from flows into the JPY, while Japan Display shares led the declines in Tokyo with losses of over 20% seen in early trade after reports that Apple is to switch to OLED screens on all iPhone models from next year, which in turn underpinned South Korea’s LG Display. ASX 200 (+0.2%) was lifted by strength in its largest weighted financials sector and as energy names shrugged off the recent aggressive pull-back in crude prices. Shanghai Comp. (-0.5%) failed to maintain the early support from a firm PBoC liquidity operation and eventually slipped amid the broad risk-averse tone, while Hang Seng (-1.0%) was weighed by losses in blue-chip property and energy names. In macro, aside from the ongoing "flight to safety" surge in the dollar which is now at the highest since November... ... the yen rallied against all G10 peers with USDJPY dropping to a one-month low; the Swiss franc was the other top performers while the U.S. 10-year yield fell to the lowest level in almost seven weeks as it played catchup to the sharp rally in Treasuries futures over the holiday. Scandinavian currencies were the worst group-of-10 performers, weighed down by the souring risk global sentiment. Meanwhile, the pound fell to a fresh 6-month low against the dollar with Brexit uncertainty continuing to weigh on the currency amid a broader risk-off trend. In geopolitical news, President Trump tweeted that a US team arrived in North Korea to make arrangement for summit between Trump and Kim Jong Un. South Korea President Moon met with North Korea leader Kim in an unannounced meeting over the weekend in which the latter affirmed commitment for denuclearisation. On Monday, the WSJ reported that the US is said to prepare new sanctions push against North Korea although reports later stated the US is to hold off on sanctions for summit talks, while South Korean press reported that US is said to demand that North Korea ship out its nuclear weapons and missiles. In Brexit news, EU Negotiator Barnier said on Friday his scenario is to reach a realistic Brexit deal and that his worst-case scenario is not a no deal. On Saturday, Barnier warned the UK to stop playing ‘hide and seek’ and come to a realistic solution for their exit from the EU. Elsewhere, WTI crude continues the declines seen on Monday trade (-2.0%) as traders continue to digest a possible OPEC+ production increase next month. Spreads are widening between WTI and Brent futures, with Brent currently up slightly on the day (+0.2%), as a result of a different settlement date for Brent. In light of Europe's repeat crisis, it is probably not a surprise that Gold is currently trading higher and has broken the USD 1,300/oz level as safe-haven demand is proving some support for the yellow metal. Copper prices are seeing strength after the closure of an Indian copper smelter is cutting supply to the market. Steel rebar is higher as Chinese seasonal demand has grown. Expected data include Conference Board Consumer Confidence and Dallas Fed Manufacturing Outlook. Bank of Nova Scotia, HP Inc. and Salesforce.com Inc. are among companies reporting earnings. Market Snapshot S&P 500 futures down 0.8% to 2,697.00 STOXX Europe 600 down 1.7% to 383.12 MXAP down 0.4% to 173.10 MXAPJ down 0.8% to 564.05 Nikkei down 0.6% to 22,358.43 Topix down 0.5% to 1,761.85 Hang Seng Index down 1% to 30,484.58 Shanghai Composite down 0.5% to 3,120.46 Sensex down 0.5% to 35,000.77 Australia S&P/ASX 200 up 0.2% to 6,013.56 Kospi down 0.9% to 2,457.25 German 10Y yield fell 14.8 bps to 0.196% Euro down 0.7% to $1.1539 Italian 10Y yield rose 22.0 bps to 2.417% Spanish 10Y yield rose 17.3 bps to 1.698% Brent futures up 0.1% to $75.37/bbl Gold spot up 0.2% to $1,302.15 U.S. Dollar Index up 0.6% to 95.00 Top Overnight News from BBG: Italy’s populist leaders, incensed by a failed bid for power, began mobilizing for an early election even as premier-designate Carlo Cottarelli puts together a cabinet to present to the head of state Italy’s Five Star Movement’s support drops to 29.5% from 31.1% a week earlier, League up to 27.5% from 24.5% in SWG opinion poll published on Tuesday “We must never forget that we are only ever a few short steps away from the very serious risk of losing the irreplaceable asset of trust,” Bank of Italy governor and ECB Governing Council member Ignazio Visco says in speech in Rome A gauge measuring the likelihood of Italy leaving the currency union within the next 12 months jumped to 11.3 percent in May from 3.6 percent in April, according to research group Sentix A Bank of England spokesman refuted suggestions of a rift between the central bank and the U.K. Treasury after a report in the Financial Times said the institutions are at “loggerheads” over the future of City of London regulations after Brexit Spain’s government nominated Pablo Hernandez de Cos to head the country’s central bank, backing a fiscal conservative for a job that includes a say in European monetary policy. Oil headed for its longest run of losses since February as Saudi Arabia and Russia mull easing curbs on crude production as concerns grow over supply shortages North Korean leader Kim Jong Un has dispatched one of his top aides to the U.S. for talks ahead of his planned summit with Donald Trump next month, according to a person familiar with the issue The Fed should slow its pace of policy normalization to help re-align price expectations around 2 percent and maintain the credibility of its inflation target, Fed’s Bullard said Tuesday in Tokyo The Turkish lira strengthened the most in the world on optimism the central bank’s decision to bring clarity to its interest-rate regime is a sign it may be able to fight the currency’s depreciation without pressure from President Recep Tayyip Erdogan. Stocks and bonds also rallied Asia traded mostly subdued as region lacked impetus following the market closures in US and UK, while recent weakness in oil prices and political uncertainty surrounding Italy and Spain have added to the cautious tone. As such, Nikkei 225 (-0.6%) was the worst performer as Japanese exporters suffered from flows into the JPY, while Japan Display shares led the declines in Tokyo with losses of over 20% seen in early trade after reports that Apple is to switch to OLED screens on all iPhone models from next year, which in turn underpinned South Korea’s LG Display. ASX 200 (+0.2%) was lifted by strength in its largest weighted financials sector and as energy names shrugged off the recent aggressive pull-back in crude prices. Shanghai Comp. (-0.5%) failed to maintain the early support from a firm PBoC liquidity operation and eventually slipped amid the broad risk-averse tone, while Hang Seng (-1.0%) was weighed by losses in blue-chip property and energy names. Finally, 10yr JGBs were higher amid recent upside in T-notes and declines in US yields, although the gains for Japanese bonds were only modest amid a mixed 40yr auction which printed a higher b/c but lower prices from previous. Top Asian News China Is Said to Consider More U.S. Coal Imports to Cut Deficit Japan Display, Sharp Slide on Report Apple to Use OLED Screens JD Finance Said to Plan a Listing in China as Soon as 2019 China Is Likely to Approve Qualcomm NXP Acquisition, WSJ Says Copper Supply Shock Hits India as Top Plant Ordered to Close European equities continue to extend losses (Eurostoxx 50 -1.3%) as financials lead the sell off with the sector down almost 3%. Italian banks continue to bleed with trading halts in Monte Paschi (-4.5%), Bper (-6.3%) and Banca Generali (-4.5%); all limit down. The downfall in Italian banks has spread across the continent with major losses for the likes of Commerzbank (-3.4%), BNP (- 3.6%), RBS (-3.3%), Credit Suisse (-2.8%) all resting at the foot of their respective indices. Italy’s domestic politics remains in scope following Italian President Mattarella giving mandate to ex-IMF official Cottarelli to form a technocratic government. Cottarelli’s list of Ministers is expected to be unveiled today, moving the process to a vote in the Italian parliament (League, 5 Star and Forza Italia have majority) where a snap election appears inevitable. Italy will very much remain the focus as markets price in the uncertainty arising from a snap election. Elsewhere, Dixons Carphone (-19.6%) trades at the bottom of the Stoxx 600 following a profit warning for 2019 Top European News Dixons Carphone Slumps 27% on Tough Outlook for U.K. Market Standard Life Plans to Return $2.3 Billion to Shareholders Intesa CEO Says Investors Are Pricing Italy Worst- Case Scenario Nestle to Cut 500 Jobs as CEO Schneider Targets Home Country In FX, the JPY benefitted most among G10/major currencies from the latest political turmoil in Italy, and to a lesser extent Spain, that has sparked broader risk-aversion and fresh EUR losses to ytd lows, around 125.05 for the cross and circa 1.1510 vs the USD, with very big barriers at 1.1550 breached. In terms of the DXY, the aforementioned Eur slide pushed the index to a new 2018 peak around 95.030, even though Usd/Jpy has retreated further below 109.00 and through a 108.79 Fib to test bids/support around 108.50, but with decent option expiry interest sitting between 108.80-90 (1.2 bn) perhaps limiting downside price action approaching the NY cut. GBP also a fall guy, partly in sympathy with the single currency, but also amidst yet more uncertainty over Brexit and of course UK political unrest, with Cable down through 1.3250 and almost hitting 1.3200 after taking out channel support at 1.3221, albeit briefly. CHF consolidating gains vs the Usd in the low 0.9900 area, but extending advances vs the Eur through 1.1500 and within striking distance of the 1.1447 ytd base, as a prominent US bank goes short for 1.1200 and places a stop at 1.1700. NZD/AUD/CAD: Less pronounced moves, but all weaker for choice of risk-off positioning with the Kiwi around 0.6925, Aud/Usd near 0.7530 and Loonie circa 1.3000. TRY: Bucking the overall trend and clawing back more losses as the Lira derives comfort from moves by the CBRT to simplify its monetary policy operations via officially targeting the 1 week repo rate. Usd/Try currently around 4.6000 vs 4.9000+ less than a week ago. In commodities, WTI is continuing the declines seen on Monday trade (-1.4%) as traders continue to digest a possible OPEC+ production increase next month. Elsewhere, gold is currently trading upwards and has broken the USD 1,300/oz level as safe-haven demand is proving some support for the yellow metal. Copper prices are seeing strength after the closure of an Indian copper smelter is cutting supply to the market. Steel rebar is higher as Chinese seasonal demand has grown. Looking at the day ahead, the main highlight in the US will be the May consumer confidence report, while the May Dallas Fed manufacturing activity index and March S&P/Case-Shiller home price index data are also due. Away from that, the OECD conference is also due to kick off (through to Thursday). US Event Calendar 9am: S&P CoreLogic CS 20-City MoM SA, est. 0.7%, prior 0.83%; YoY NSA, est. 6.4%, prior 6.8% 10am: Conf. Board Consumer Confidence, est. 128, prior 128.7; Present Situation, prior 159.6; Expectations, prior 108.1 10:30am: Dallas Fed Manf. Activity, est. 23, prior 21.8 12:40am: Fed’s Bullard Speaks in Tokyo DB's Jim Reid concludes the overnight wrap On paper yesterday should have been one of the quietest trading days of the year with both the US and UK out on holiday. However Italian yields slipped faster than a ball through a Liverpool goalkeeper’s hands as the country’s bond market had a remarkable day. Picture the scene, you are sitting on a European trading floor and as you get breakfast at your desk, Italian 2 year yields have already rallied 21bps to 0.25% after the weekend news that Italy’s President Mattarella blocked the appointment of Paolo Savona as Finance Minister due to his Eurosceptic credentials. On this news the populist coalition collapsed. At that point the market welcomed the appointment of ex-IMF Carlo Cottarelli to run a technocratic administration. However by late morning fears abounded that this could backfire and make the populists even more popular and with more power when fresh elections are held. So within 2-3 hours we were trading close to 0.96% on the 2 year where they stayed for most of the day before dipping to 0.87% at the close. All in all, a 70.7bps range on the day and +40.7bp wider from Friday’s close. To put this in perspective we downloaded the available daily G7 + Spain 2 year yields data since 1986 from Bloomberg to see what the biggest daily 2 year moves have been for major economies. Starting with the Italian 2y BTPs, yesterday’s +40.7bp move was the 13th largest daily move over the past 19 years. Notably, if we exclude the 2011/2012 crisis periods, yesterday’s move was actually the second highest print. Compared to its peers, the change was equally remarkable with Spain having had only 11 days over the past 25 years where its 2yr yields posted larger daily moves than 2 yr BTPs yesterday while the data for the other countries are: Canada 10 days, Gilts 4 days, US and France 1 day, and Germany and Japan zero days. Alternatively, if we assume yesterday’s intra-day move of +70.7bp for BTPs was held into the close, this would be the third equal highest daily change across all of our chosen peers, with the two higher prints being 2 yr BTPs back in November 2011 (+81bp) and 2yr Spanish bonds in July 2012 (+76.4bp). So an extraordinary day and move. Elsewhere, a flight to safety yesterday boosted Core European bonds with Bunds 10y yields down to the lowest in five months (-6.2bp) while OATs also fell -1.5bp. Conversely, peripherals materially underperformed with 10y BTPs up 22.1bp while Portugal (+11.2bp) and Spain (+5.9bp) also rose in sympathy. Meanwhile the spread between 10y Bunds and BTPs are at 233bp, the highest since December 2013. Over in equities, European bourses were weighed down by the Italian uncertainties with the Stoxx 600 (-0.32%) and DAX (-0.58%) both modestly lower. Within the Stoxx, the energy sector led the losses (-0.96%) as WTI oil fell for the fifth straight day (-1.3%; -7.4% cumulative from the recent peak 5 days ago) as Saudi Arabia and Russia both signalled potentially higher oil supply. Across the region, Italy’s FTSE MIB fell -2.08% with Italian banks hit the hardest, as Banca Monte dei Paschi dropped -7.1% while Unicredit and Intesa Sanpaolo fell -3.8% and -3.2%, respectively. Following on with Italy, the latest news is that Cottarelli will need to go to Parliament over the next day or so for a vote of confidence that will likely determine whether we get fresh elections as early as August/September (if he loses) or early next year (if he wins it). The President has determined that this was always going to be a short-term administration so Cottarelli and ministers are not expected to stand in the fresh election. According to DB’s Clemente De Lucia it’s highly likely he will lose as Five Star and League have been saying for a while that they will not support a technocrat government. They reaffirmed this yesterday as did Berlusconi who said his Party will vote against Cottarelli. Indeed it seems Di Maio is intent on mobilising 5SM party supporters as he is calling for a big demonstration against President Mattarella on June 2nd (the Republic Day) in Rome as he noted “I call on citizens to mobilize, make yourselves heard”. Similarly, the League’s Salvini also called for protests over the weekend and said “today Italy is not free, it’s occupied financially by Germans, French and Eurocrats” and that “the upcoming elections will be…a real and true referendum…between who wants Italy to be a free country and who wants it to be servile and enslaved”. In many ways we shouldn’t be surprised by political turmoil in Italy. A stat we regularly discuss is that Italy have had 90 governments in around 116 years. Last week’s nearly Government doesn’t even count here. Speaking to DB’s Mark Wall and Clemente De Lucia last night they believe that the rest of the EU wants to avoid an immediate confrontation with Italy on policy. Europe will wait for a government to be formed and assess the policies it implements rather than escalate tensions on the basis of proposed policy. This avoids giving the populists something to capitalise on. In the meantime, Europe is probably not averse to letting the market express its opinion on the sustainability of the mooted policies as long as the market reaction is controlled, contagion is avoided, and there is no unwarranted tightening of financial conditions. Also Mark thinks the extended hiatus on a political government emerging in Rome means lingering uncertainty elsewhere. This risks complicating the ECB’s path to switching off QE and the EU Council’s plans to gain agreement on euro area institutional reforms this summer. The uncertainty is also an additional headwind to an economic cycle facing more constraints in 2018 than was originally expected. As the cyclical tide goes out, the euro area’s structural deficiencies are being revealed once again. So it’s going to be a fascinating summer for Europe as the Italian political situation crashes into the start of the ECB’s preferred timetable for announcing the exit from QE. Over in Spanish politics now, the leader of the fourth largest party (Ciudadanos) Mr Rivera noted that he won’t back the Socialists Party’s no confidence motion against PM Rajoy for now, but wants PM Rajoy to agree to a new snap election in the fall which would allow an orderly end to the legislature. Elsewhere, the latest poll by El Espanol projected Mr Rivera’s Ciudadanos Party could triple its number of seats to become the biggest party if new elections were held, while support for the ruling People’s Party could collapse and the Socialists Party would be little changed. So this story is bubbling under the surface while the Italian story is truly bubbling above the surface. This morning in Asia, markets are modestly lower with the Nikkei (-0.88%), Kospi (-0.65%), Hang Seng (-0.62%) and Shanghai Comp. (-0.59%) all down. Meanwhile, futures on the S&P are marginally higher while UST 10y yields are c3bp lower. Elsewhere, the US / North Korea’s meeting on 12th June looks to be back on again as President Trump confirmed that “our US team has arrived in NK to make arrangements for the Summit between Kim and myself”. Datawise, Japan’s April jobless rate was in line and steady mom at 2.5%. Now recapping other markets performance from yesterday. The US dollar index firmed 0.18% while the Euro reversed gains of c0.7% to close -0.22% lower to a fresh six month low, as the Italian uncertainties played out during the day. Elsewhere, the Turkish Lira jumped 2.8% vs. USD as its central bank simplified its monetary policy, now allowing its one-week repo rate to be the same as the current policy rate of 16.5%. DB’s Kubilay Ozturk believes the move is a belated yet strong response from the MPC. While simplification is welcome, the team still thinks the Bank will complete its response by re-calibrating its new single rate by (at least) another 100bps along with a shift to a single policy rate on the June 7th meeting. They believe delivering such a response at the MPC meeting would be a major positive. Looking at the day ahead, in Europe we've got April money supply data for the Euro area and the May consumer confidence reading in France due. The ECB's Villeroy is also due to speak again, followed by the ECB's Visco, Mersch, Lautenschlaeger and Coeure. In the afternoon the main highlight in the US will be the May consumer confidence report, while the May Dallas Fed manufacturing activity index and March S&P/Case-Shiller home price index data are also due. Away from that, the OECD conference is also due to kick off (through to Thursday). (zerohedge.com)
	"Choose a job you love and you will not have to work a day in your life" (Confucius)
	+1

Luis Miguel 1162 61587 Lima	RE: ARE WE NOW IN THE END TIMES? 5/30/2018 11:45:46 PM
	Grist / asbe / Jio Avanzado / EyeEm / Yoann JEZEQUEL Photography / Getty Images ASK UMBRA Am I self-sabotaging because the world’s going to end? By Eve Andrews on May 24, 2018 Q. Dear Umbra, My ex-boyfriend was a pretty big jerk when we dated. He called me a hypocrite for my environmental beliefs and was pretty condescending in general. Now, years later, we’re “friends.” We have loads of fun together because we like to do all the same things, like drink beer and read children’s books out loud. So every time I fly across the country for a visit home, I end up seeing him. Of course, he’s still manipulative and noncommittal, and I feel really down after we see each other. But I do it anyway. And I think it has something to do with climate change. If the future is going to be as bleak as scientists predict, shouldn’t I have as much fun while I can? Am I taking advantage of my youth before the world descends into drought-ridden chaos? Or is this just self-sabotage? Angstily, In Protest of Carbon and Condescension! A. Dear IPCC, I’m sorry, but I’m going to reference Freud, the father of psychoanalysis, for a second — as well as Sabina Spielrein, his less-famous colleague. Freud argued that we are innately driven by the “pleasure principle,” which basically means the need to feel good all the time. However, Spielrein pointed out that the pleasure principle doesn’t address the part of ourselves that makes us engage in dumb, self-destructive shenanigans. “At our core, there is something that, however paradoxical it may seem a priori, seeks this self-harm, since the Self reacts to it with pleasure,” wrote Spielrein in her 1912 landmark essay, “Destruction as the Cause of Coming Into Being.” Some Freudian scholars believe that Spielrein’s concepts formed the foundation of Freud’s later theory of “death drives,” which proposes that “the goal of all life is death.” But you almost never hear about Spielrein as anything more than Carl Jung’s slampiece, because she was a woman in the early 20th century who spent too much time with men who loved cocaine and hearing themselves talk. You might say she was engaging in some self-sabotaging behavior! There’s a theory, in certain psychoanalytic circles, that there are echoes of Freud and Spielrein in our collective human approach to climate change. Here’s Susan Kassouf, in an academic paper: “In our collective reaction of inertia to environmental destruction, are we witnessing the psychotic depression of our culture ‘bent upon suicide by self-neglect’? … If not sociopathic, pathologically narcissistic, or even perverse, we might indeed describe as deranged such behavior in which we act as though climate has not always informed and is not now radically altering our world.” There are some parallels between your behavior with your ex and human behavior with regard to climate change, you have to admit: Even though you know the apocalyptic climate outcome of a jet-setting culture, you still get on that plane. And even though your ex makes you feel upset, you still see him. (“See” him. OK, girl!) In your defense, the way our culture is set up makes it pretty hard to not fly. There are a lot of systemic changes that need to be put into place to address the lack of other options. But no systemic changes need to be made for you to stop seeing your ex. Unfortunately, that’s on you. I called Ellen Hendriksen, an author and clinical psychologist at Boston University’s Center for Anxiety and Related Disorders, to talk about the concept of “self-sabotage.” Fundamentally, it comes from fears of failure or loss of control. Relationships are a prime opportunity for self-sabotage, Hendriksen explains, because you never have any control to begin with. You can’t control another person. But after I read her your question, she put forward another theory: You’re looking for a justification to see him because you’re avoiding a change. “Avoidance drives most mental health problems — especially anxiety,” Hendriksen says. (Again — we can draw some obvious climate change parallels!) Even though your ex might be condescending and manipulative, he was at one point a constant in your life. Someone you relied on for the highly addictive cocktail of emotional support, comfort, and affection. It’s really hard to give those people up! It’s why I have tried to sustain a friendship with every ex I’ve ever had, usually to disastrous result. And modern life requires reckoning with some deeply unsettling information day in and day out! Who wouldn’t want to keep as much comfort and familiarity around as possible? But you clearly recognize that this relationship isn’t good for you, or you wouldn’t be writing in to an internet advice column. In my experience, this means that you’ve discussed this issue so exhaustively with your friends that they’re now threatening to block your texts, so you’ve turned to me, a stranger. That means that this situation isn’t actually offering you much comfort anymore. So many of us have known men like your ex! One day you’re six beers in readingWhere The Wild Things Are and everything is heaven, the next, you’re weeping into your bagel: “Why doesn’t he want to be with me for real?” It’s a terrific feeling, followed by a terrible feeling. To return to Freud: It’s kind of like cocaine! To paraphrase the infinitely wise Kirsten Cohen in Episode 14 of Season 1 of The O.C.: If your whole life is about fun, are you even having any? If you believe that the world is coming to an end and that you should just have really immediate fun all the time, that doesn’t change the fact that that type of fun has a quickly diminishing marginal return. Because the world very well might not end — despite what the doomsday nature of the news cycle has driven into your psyche — and then you’re just there, not having any fun, and you’re probably standing in the middle of a hideous mess of your own making. Your demise is not set in stone. You have permission to think about and plan for your own long-term pleasure! Your future self deserves some enjoyment, too. Mit liebe, Umbra (GRIST)
	"Choose a job you love and you will not have to work a day in your life" (Confucius)
	+1

Luis Miguel 1162 61587 Lima	RE: ARE WE NOW IN THE END TIMES? 5/31/2018 9:33:43 AM
	Inadmissible Crimes Against Humanity - The Division at the Heart of the Israel/Palestine Conflict Submitted by Galactic Free Press on Tue, 05/29/2018 - 15:37 by Julian Rose For decades Palestinians have lived on the edge of annihilation, their homeland steadily annexed until just a slither of the original remains. It's a story that just won't go away, even for those thousands of miles away, who try to cover their ears and eyes from the shame which has befallen the ruthless oppressor of this now tiny peninsular of land and its battle weary people. In 1975, I worked on a kibbutz called Rosh Hanikra, in Northern Israel. It's main income was derived from intensive commercial avocado pear production. There were maybe four hundred inhabitants. The social experiment known as kibbutziem grew up after World War Two, when thousands of European Jews,who had survived Hitler's pogroms, moved to Israel, with the intent of making it their new home. The kibbutziem movement was developed as a series of agricultural land-based settlements, often established on very poor land which was gradually worked into productivity. At Rosh Hanikra we all ate together in a large dining hall and slept in small houses dotted around the central area. No one 'owned' the land or homes, the kibbutz was established as a collective, and those who remained part of the movement for the longest acquired certain privileges. That is how it worked, and I was there as a volunteer for a brief period, my interest being directly connected to an exploration of alternative models of land settlement, with a view to the future of the UK country estate I had inherited on the death of my father some years earlier. One day I left the kibbutz in order to visit a wise elder in Tel Aviv. In the course of our conversations about the land settlements, he told me something of great interest. He said that the word Israel, in the original Hebrew, means 'to strive with God' and that this has been covered-up by the extreme right wing Zionist element, who insist that Israel is the name of the country that had been Palestine up until the 1918 Balfour Declaration created the 'two state' position that – on paper – remains the reality today. So perhaps Israel, I thought to myself, was never meant to be 'a place' at all, more a way of life – a commitment to 'work with God'. And if so, what did this mean in the light of the claim that this geographical area of land at the Eastern end of the Mediterranean - is the 'homeland' of the Jewish tribes? This explanation by the wise elder stuck with me; it presented a whole new understanding of – and possibly for – the resolution of the seemingly intractable Palestine/ Israel crisis. If, by definition, the sons and daughters of Israel have mistaken a 'material place' for a 'spiritual mission' this would indeed be a profoundly significant misunderstanding. One that, should it be admitted to, could change the course of history. Three weeks ago I read this headline to a story written by the seasoned journalist Robert Fisk foreign correspondent of The Independent: “How long after the Gaza massacre are we going to continue pretending that the Palestinians are non-people?” Fisk, who belongs to that rare community of journalists who seek to communicate the truth, exposes the horror of the Gaza front-line massacre of Palestinians who got too close to the security fence that separates Gaza from the Israel border. Sixty men, women – and one child – shot dead in just one day and two thousand four hundred wounded. Not one Israeli suffered even a wound, as Palestinian youths threw stones and launched burning kites against live rounds of ammunition; each round targetted to kill. As this carnage raged on the Gaza border, Jared Kushnev, Donald Trump's son-in-law, was opening the new American Embassy in Jerusalem, amidst a smartly dressed entourage of Zionist evangelicals. Pronouncer's of the view that this event was a portent and precursor of the great apocalypse and subsequent return of the Saviour. A time when Jews will return to the 'homeland', and those who fail to convert to Zionism will meet a fiery fate in the underworld. Those who gathered inside the new US Embassy in Jerusalem, believe that any amount of cold blooded murders are worth it, in order for Jerusalem to be recognised as the Jewish capital of Israel, to the complete exclusion of Palestinian claims to the same end. “It's a great day for peace” declared Benjamin Netanyahu, as unarmed Palestinians were simultaneously being picked-off by the Israeli military on the Gaza border. And Donald Trump no doubt echoed this view, as it is ever more apparent that he walks in Netanyahu's shoes in every way, other than literally. It's been seventy years now that Palestinians have been protesting their dispossession at the hands of those who refused to uphold the land resource split agreed in the Balfour Declaration; itself a compromised piece of legislation. Many Palestinians fled across the border to Lebanon during the vicious pogroms that flared-up in the post World War Two resettlement period. Some no doubt joined Hamas, which was formed to try and protect village communities against the ceaseless land grabs perpetuated by Israeli hard liners. I remember the occasional missile flying over Rosh Hanikra kibbutz back in 1975, from the Lebanese side of the border – and how no one paid much attention - as any damage done on the Israeli side would be paid back five fold on the Lebanese side. It has been a desperately one sided struggle from the outset. Not surprisingly, when we know that the US Senate approves copious funds to bolster the military cause of the 'One Israel' fanatics. After my work experience on the kibbutz, I journeyed to Jerusalem and then down into Arab Jordan. I remember gaining the distinct impression about the two cultures as, I travelled. The Israelis, being composed mostly of resettled Europeans and Americans, were culturally Westernised and mostly intellectual by disposition. Whereas the Jordanian Arabs, indigenous natives of the Middle East, were openly warm and naturally inclined to expressing emotion, by disposition. My overriding impression was that the two cultures represent two parts of one whole; both having characteristics that – if put together – would be complementary and form a positive sense of balance. I believe that such a positive resolution would indeed have been the likely outcome if the hard-line Zionist faction had not gained a predominant position of control in Israeli politics from an early point in the history of the Country. We are forced back into the observation that the Rothschild, Rockefeller, Soros dynasty, with its strong affiliation to The Project for the New American Century, The Trilateral Commission and the Bilderbergers, have maintained an as yet unbroken influence on the evolution of Israeli politics. Successfully establishing the old 'divide and conquer' technique to ensure that the tunnel vision hard-liners remain in the top seats of power. This inflames the whole Middle East, as the game plan of this cabal has always been to destroy the indigenous sense of unity of this region and replace it with a form of military dictatorship, funded and directed by the advocates of a totalitarian New World Order, in which the 'elite-by-blood-line' remain permanently in the driving seat. A direct extension of the Third Reich, with its openly stated genocidal and eugenics ambitions. The demographic position of Israel gives it important geopolitical influence over international trade routes using the Suez Canal, as well as to surrounding countries rich in natural resources, especially oil. Keeping the Country firmly locked into serving as an outpost for these, as well as closely related Western hegemonic interests, plays a significant role in the choice of Israel's leadership, and from where the financial support for this leadership comes. As the Middle East crisis continues to be fanned by such die-hard despots, people are waking-up and beginning to see through the deception. The affect this is having is to trigger a clamp-down on any criticism of the Zionist cause. For it has suddenly become a weaponized subject, for which even the fundamental right to 'freedom of speech' must apparently be curtailed. We have already witnessed a savage attack on the UK Labour Party and its leader Jeremy Corbyn, for supposedly harbouring anti-semitic sympathies; but in actuality, it is much more likely that certain individuals were simply telling some of the same truths as I attempt to convey in this article. The instigators of this attack were the British Association of Jews and Friends of Israel. The most astonishing aspect of it was a letter sent to Corbyn co signed by the leaders of these organisations, which demanded that he take action to weed-out the supposedly anti-semite trouble makers from his party. Corbyn was informed that he must supply proof of his complying with this demand within a month, and only after considering this evidence would they decide whether or not to black list his party. Here we witness all the same symptoms of authoritarian despotism that are behind Netanyahu's attempts to crush the Palestinian cause and the continued resistance which it so courageously maintains. Aside from the absurdly biased challenge on the British Labour Party, the instigators antagonistically assume the moral high ground that gives them the right to dictate the terms. Donald Trump's deliberately provocative decision to move the US Embassy out of Tel Aviv and into Jerusalem, is an action carried out in order to cement continued far right support for Netanyahu's government and its policy of eradicating any and all opposition to a 'One State' Israel. We have thus arrived at an incendiary position of conflict which continues to drag neighbouring countries into the cauldron. The Gaza killings have provoked the United Nations to call for an independent investigation into war crimes committed by Israeli troops. The only nations to vote against this proposal were the USA and Australia. But such investigations never seem to come to any definitive resolution, as the UN itself has strong links to the global power brokers, and is more 'a front' for temporarily defusing conflicts than a genuine arbitrator for justice. I left Kibbutz Rosh Hanikra in the Summer of 1975 and returned to England to attend an important conference on organic farming methods. The conference was run by the Soil Association and its chairman was Lady Eve Balfour, the grand-daughter of Lord Arthur Balfour who established the 1918 declaration that divided Palestine into two. Although the two state system has – in principle - survived, it has been repeatedly violated by the establishment of illegal Israeli colonies on land appropriated from Arabs who had owned and lived on it for generations. The seemingly intractable nature of this conflict seems to defy a positive and peaceful resolution. But such situations demand creative solutions – and even if one has to dig deep to find them – the effort must be made. Could it be that the words of the wise elder I met in Tel Aviv back in 1975, might hold the key to unlocking the truth? Perhaps he was right, and that Israel is not actually a geographical place at all - but an aspiration – a ancient commitment to 'work with God'. And if this God is the same deity as He who gave birth to the dazzling Universe, then Israel would indeed be a name that many a wise being would cherish and hold in honour. A name that would be the harbinger of peace and reconciliation instead of war and division. A message of deep meaning not just to the Middle East, but to all inhabitants of planet Earth. Let us meditate on that. Hold that conclusion in our minds and hearts, and thereby play our role in resolving this tragic conflict. __________ The author is an early pioneer of organic farming, an international activist, writer and social entrepreneur. He is President of The International Coalition to Protect the Polish Countryside and is the author of two acclaimed titles 'Changing Course for Life' and 'In Defence of life' both of which are available via his website www.julianrose.info . His third book 'Beyond the Mechanistic Mind' will be out shortly. Category: World News & Politics
	"Choose a job you love and you will not have to work a day in your life" (Confucius)
	+1

Luis Miguel 1162 61587 Lima	RE: ARE WE NOW IN THE END TIMES? 5/31/2018 10:32:44 AM
	Pornography is a ‘root cause’ of school shootings, Republican congresswoman says By Eli RosenbergMay 29 at 8:37 PM Eleven schools since Columbine High School in 1999 have had mass shootings. Accounts by witnesses and survivors are eerily similar. (Video: Monica Akhtar/Photo: Matt McClain/The Washington Post) A Republican congresswoman from Tennessee blamed pornography — as well as a host of other cultural issues — for school shootings, during a recent meeting. Diane Black, who is running for governor of Tennessee, made the comments while speaking to a group of ministers during a “listening session” recently, according to HuffPost, which reported the story and included audio of the remarks. The comment about pornography came as Black wondered what was driving some children to such violent ends. “What makes them do that?” she said. “Because as a nurse, I go back to root causes.” She then listed a couple of these root causes, which included pornography, as well as “deterioration of the family” and violence in movies. “Pornography, it’s available, it’s available on the shelf when you walk in the grocery store,” she said. “Yeah, you have to reach up to get it, but there’s pornography there. All of this is available without parental guidance. And I think that is a big part of the root cause.” Black also spoke briefly about mental illness being something “we’ve got to address.” HuffPost published only about 2 1/2 minutes of audio, so it is not clear whether Black gave specifics about the ways she believes pornography could lead to gun violence. Chris Hartline, a spokesman for Black, wrote that the congresswoman “believes the breakdown of families and communities plays a significant role in instances of school violence.” Black’s remarks were among the latest attempts to explain the United States’ high numbers of mass shootings. Liberals and other advocates of stricter gun control point to statistics that indicate that the prevalence of guns is the single most important variable when examining why the United States has more mass shootings than other countries. Many conservatives and the National Rifle Association point to other causes, including intense news coverage of mass shootings, video games, abortion and a lack of religion, inadequate control of entry into schools, and even the act of going to school itself. [Things blamed for the deadly Texas school shooting: Ritalin. Abortion. The media. Schools. And doors.] “Hearing from many parents, they’re scared to send their kids to school,” Texas state Rep. Jonathan Stickland (R) wrote on Twitter after the shooting near Houston. “We need to give them as many different choices as possible.” Pornography has long been a target of social conservatives and some religious groups in the United States, though it has been upheld by the courts as constitutionally protected speech. As The Washington Post’s Amber Phillips wrote after legislators in Utah approved a resolution calling porn “evil, degrading, addictive and harmful,” “the science isn’t settled yet on what regular porn use does to the brain and a person’s sexual and romantic life — especially when it comes to young people who view it in their formative years.” Debating porn’s ills on society seems like a game of choose-your-own-study. There are studies that claim to show a link between pornography and a myriad of sexual, mental and emotional problems. And there are studies that claim to show porn watching actually helps people’s relationships. In Denmark, some teachers actually use the topic of porn to teach students about the difference between consensual and nonconsensual sex, the Economist reports. Branding porn as a public health hazard, though, also doesn’t change advocates’ fundamental problem: They have little legal recourse to limit it. Studies analyzing mass shootings in the United States and contrasting this country with others demonstrate that the single most important variable is the high number of guns in the United States, according to the New York Times, given that many other developed countries experience similar rates of video-game use, mental illness and other societal challenges but do not have comparable numbers of mass shootings. Game company Valve was set to release "Active Shooter" on its online platform Steam.(Allie Caren/The Washington Post) (The Washington Post)
	"Choose a job you love and you will not have to work a day in your life" (Confucius)
	+1

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Am I self-sabotaging because the world’s going to end?

Inadmissible Crimes Against Humanity - The Division at the Heart of the Israel/Palestine Conflict
Submitted by Galactic Free Press on Tue, 05/29/2018 - 15:37

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