Politics

Jeff Tollefson – Antarctica’s Southern Ocean May No Longer Help Delay Global Warming

Joellen Russell wasn’t prepared for the 10-metre waves that pounded her research vessel during an expedition south of New Zealand. “It felt like the ship would be crushed each time we rolled into a mountain of water,” recalls Russell, an ocean modeller at the University of Arizona in Tucson. At one point, she was nearly carried overboard by a rogue wave.

But what really startled her was the stream of data from sensors analysing the seawater. As the ship pitched and ...

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Robert Parry – What to Do About ‘Fake News’

In the wake of Donald Trump’s victory, a hot new issue – raised by President Obama in an international setting on Thursday and touted on The New York Times’ front page on Friday – is the problem of “fake news” being disseminated on the Internet.

Major Internet companies, such as Google and Facebook, are being urged to censor such articles and to punish alleged violators. Also, teams of supposedly “responsible” news providers and technology giants are being assembled to police this ...

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BEN WHITE – Bankers celebrate dawn of Trump era

NEW YORK — Christmas has arrived early for Wall Street in the early days of the Donald Trump era.

A populist candidate who railed against shady financial interests on the campaign trail is now putting together an administration that looks like an investment banker’s dream.

Former Goldman Sachs banker Steven Mnuchin has been seen at Trump Tower amid rumors that he’s the leading candidate for Treasury secretary. Billionaire investor Wilbur Ross appears headed to the Commerce Department. Steve Bannon, another Goldman alum, ...

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Italy’s Government on Verge of collapse: Next Trumpian Domino to Fall?

Italy’s government is on the verge of collapse. Prime minister Matteo Renzi reiterated his position just yesterday, he will not hang on if a referendum he seeks does not pass.

Polls show the referendum will fail. Then again, polls have not been remarkably accurate recently, to say the least. On the other hand, this poll shows a strong preference to what is labeled “populism”.

Finally, there is always a chance Renzi will not resign and he is only attempting to manipulate the vote. ...

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Yves Smith – Why Economic Recovery Requires Rethinking Capitalism

In 2008, Queen Elizabeth II went to the London School of Economics to open a new academic building.  The British Monarch has made it a life’s work to avoid saying anything contentious in public, but this time she had a question for the economists: Why had they not seen the financial crash coming?

Her question went to the heart of two huge failures of modern economics: the near collapse of some of the world’s major economies; and the faith in an ...

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The Latest: Mexico seeks to push ahead on TPP without US

LIMA, Peru — The latest on the summit of the Asia-Pacific Economic Cooperation Forum (all times local):

5:45 p.m.

Mexico isn’t throwing in the towel on free trade despite Donald Trump’s threats to break up NAFTA and abandon other multilateral trade deals.

Mexican Finance Minister Idelfonso Fajardo said Friday that he met with officials from five other signatories to the Trans-Pacific Partnership — Australia, Malaysia, New Zealand, Japan and Singapore — on the sidelines of the APEC summit in Lima, Peru. He says ...

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Chris Hedges – We Are All Deplorables

My relatives in Maine are deplorables. I cannot write on their behalf. I can write in their defense. They live in towns and villages that have been ravaged by deindustrialization. The bank in Mechanic Falls, where my grandparents lived, is boarded up, along with nearly every downtown store. The paper mill closed decades ago. There is a strip club in the center of the town. The jobs, at least the good ones, are gone. Many of my relatives ...

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This Is How Steve Bannon Sees The Entire World

Donald Trump’s newly named chief strategist and senior counselor, Steve Bannon, laid out his global nationalist vision in unusually in-depth remarks delivered by Skype to a conference held inside the Vatican in the summer of 2014.

Well before victories for Brexit and Trump seemed possible, Bannon declared there was a “global tea party movement” and praised European far-right parties like Great Britain’s UKIP and France’s National Front. Bannon also suggested that a racist element in far-right parties “all gets ...

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Nika Knight – ‘Business-As-Usual’ Climate Scenario Will Cost World Economy $12 Trillion: UN

Unabated fossil fuel emissions will cost the global economy a staggering $12 trillion by 2050, according to a new report from the United Nations.

The report predicts a temperature rise of 2.5ºC by 2050 if climate change continues on its current course, compared to the 1.5ºC temperature rise that was the goal of the emissions reduction plans laid out in the Paris climate accord. The world’s gross domestic product will fall by $33 trillion in the “business-as-usual” scenario, the report ...

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Nadia Prupis – Wall Street and Private Prisons ‘Licking Their Lips’ Over Trump Presidency

A new report from the research organization In the Public Interest (ITPI) highlights the banks that finance the private prison industry—and with a Trump administration on the horizon, they could be in for a windfall.

Six banks have played a major part in bankrolling the two largest private prison firms, CoreCivic (formerly the Corrections Corporation of America) and the GEO Group: Wells Fargo, Bank of America, JPMorgan Chase, BNP Paribas, SunTrust, and U.S. Bancorp, according to the ITPI’s report, The ...

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