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Showing posts with label USA. Show all posts
Showing posts with label USA. Show all posts

Thursday 15 February 2024

Is the future in America or China?



 

Oh my! What a “leading question”. I’ll bet all the trolls came out on this one, eh?

Let’s try to answer this question REASONABLY.

[Basic point herein]

A “future” is a personal perspective. A Summer with a lot of rain will make the farmer happy, but will really upset the football player.

No one can really answer that question for you.

You have to take your personal perspective, and then frame how you live your life relative to your projected needs and desires.

[What the future looks like]

Both China and the United States will exist in the future. Even if there is a catastrophic war, both will continue to exist simply due to their enormous size.

But both nations are on different trajectories based upon their structure, their leadership and the composition of their individual societies.

[The United States]

We can expect that (barring significant course corrections) the United States will evolve and develop in the following directions…

Greater freedoms and even privileges for LGBT+ individuals.

Higher inflation rates.

Substantial changes in the use of the USD and banking systems.

Changes in the structure of urban life, and alterations to rural life.

Continued stratification of society resulting in zero middle class and great disparity.

Continued balkanization of general society creating enclaves of closed communities.

[China]

Increased growth of the middle class.

An expansion of public spaces, and utility access.

Continued technological advancements.

Continued expansion of the manufacturing base.

An integration of global society resulting in a “melting pot” of respected cultures.

Breakthroughs at all levels to include electronics, AI, technology, and space exploration.

[Conclusion]

I envision that the United States will continue to be the nation of choice for the wealthy, stockbrokers, finance, banking, and related professions. Such as attorneys, accountants, and tech specialists. I can also see possibilities for real estate speculators, and opportunities in the social and medical fields.

I see great opportunities in China, for technical specialists, family businesses, craftsmen, workers of all types, factory and manufacturing experts, and people involved in the sciences.

As I see it, the bifurcated evolution of the world will offer great opportunities for the self-directed individual no matter what your background, or interests lie. the future looks great. Don’t get caught up in the neocon fantasies and doom and gloom of the selfish. The future is quite bright.

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Thursday 11 January 2024

First US private lunar lander mission fails

The spacecraft carrying the Peregrine, a commercially built American lunar lander, may be facing a critical failure after its launch Monday. Derrick Pitts, the chief astronomer at Philadelphia's Franklin Institute, joins CBS News with details on the spacecraft's apparent fuel leak.

Damaged Peregrine moon lander beams back photo, time running out on power

An historic commercial US mission to the Moon will fail after suffering a critical loss of fuel, organizers admitted Tuesday, ending for the time being America's hopes of placing its first spacecraft on the lunar surface since the Apollo era.

Astrobotic began reporting technical malfunctions, starting with an inability to orient Peregrine's top-mounted solar panel towards the Sun © - / Astrobotic/AFP

Fixed to the top of United Launch Alliance's new Vulcan rocket, Astrobotic's Peregrine Lunar Lander blasted off Monday from Florida's Cape Canaveral Space Force Station, then successfully separated from its launch vehicle.

But a few hours later, Astrobotic began reporting malfunctions, starting with an inability to orient Peregrine's solar panel towards the Sun and keep its battery topped up, owing to a propulsion glitch that also damaged the spacecraft's exterior.

The company said it had "no chance of soft landing" on the Moon.

Peregrine has about 40 hours of fuel remaining and Astrobotic said it planned to operate the spacecraft until it ran out of propellant.

NASA had paid the company more than $100 million to ship scientific hardware to a mid-latitude region of the Moon to answer questions about the surface composition and radiation in the surrounding environment, as it prepares to send astronauts back to Earth's nearest neighbor later this decade.

The United States is turning to the commercial sector to stimulate a broader lunar economy and cut costs, but Astrobotic's failure could increase scrutiny about the strategy.

Astrobotic however said it was continuing to receive valuable data to prepare for its next contracted mission, sending the Griffin lander transporting a NASA rover to the lunar south pole, later this year.

Latest commercial failure

It is the latest private company to have tried and failed to achieve a soft lunar landing.

Israel's Beresheet lander, the first attempt by a non-government entity, was destroyed on impact with the Moon in April 2019, while Japan's private Hakuto mission, operated by iSpace, crashed in April 2023.

For now, the feat has only been accomplished by a handful of national space agencies: the Soviet Union was first, in 1966, followed by the United States, which is still the only country to put people on the Moon.

China has successfully landed three times since 2013, while India was the most recent to achieve the feat on its second attempt, last year.

The next commercial attempt will be by Houston-based Intuitive Machines, which is launching in February, bound for the Moon's south pole.

In addition to its scientific instruments, Peregrine is carrying more colorful cargo on behalf of its own private clients. These include a physical Bitcoin and cremated remains and DNA, including those of Star Trek creator Gene Roddenberry, legendary sci-fi author and scientist Arthur C. Clarke and a dog.

The Navajo Nation, America's largest Indigenous tribe, had objected to sending human remains, calling it a desecration of a sacred space. Though they were granted a last-ditch meeting with White House and NASA officials, but their misgivings failed to change matters.

2024 AFP

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Monday 13 March 2023

Silicon Valley entrepreneurs left in the lurch and livid, as banks topple, regulators face reckoning

 

Silicon Valley Bank was shut down on Friday morning by California regulators and was put in control of the U.S. Federal Deposit Insurance Corp..
 

 

 

In this photo illustration, Silvergate Capital Corporation

NEW YORK: Last Monday, the head of the Federal Deposit Insurance Corp (FDIC) warned a gathering of bankers in Washington about a US$620bil (RM2.8 trillion) risk lurking in the US financial system.

Last Friday, two banks had succumbed to it. Whether US regulators saw the dangers brewing early enough and took enough action before this week’s collapse of Silvergate Capital Corp and much larger SVB Financial Group is now teed up for a national debate.

SVB’s abrupt demise – the biggest in more than a decade – has left legions of Silicon Valley entrepreneurs in the lurch and livid.

In Washington, politicians are drawing up sides, with Biden administration officials expressing “full confidence” in regulators, even as some watchdogs race to review blueprints for handling past crises.

To his credit, FDIC chair Martin Gruenberg’s speech this week wasn’t the first time he expressed concern that banks’ balance sheets were freighted with low-interest bonds that had lost hundreds of billions of dollars in value amid the Federal Reserve’s rapid rate hikes.

That heightens the risk a bank might fail if withdrawals force it to sell those assets and realise losses.

But despite his concern, the toppling of two California lenders in the midst of a single workweek marked a stark contrast with the years after the 2008 financial crisis, when regulators including the FDIC tidily seized hundreds of failing banks, typically rolling up to their headquarters just after US trading closed on Fridays.

Even in the darkest moments of that era, authorities managed to intervene at Bear Stearns Cos and Lehman Brothers Holdings Inc. while markets were shut for the weekend.

In this case, watchdogs let cryptocurrency-friendly Silvergate limp into another workweek after it warned March 1 that mounting losses may undermine its viability. The bank ultimately said Wednesday it would shut down.

That same day, SVB signalled it needed to shore up its balance sheet, throwing fuel onto fears of a broader crisis.

A deposit run and the bank’s seizure followed. The KBW Bank Index of 24 big lenders suffered its worst week in three years, tumbling 16%.

“With Silvergate there was a little bit of a regulatory blind spot,” said Keith Noreika, who served as acting comptroller of the currency in 2017.

“Because they wound it down mid-week, everyone got a little spooked, thinking this is going to happen to others with similar funding mismatches.”

Representatives for the FDIC and Fed declined to comment.

The drama is already spurring arguments in Washington over the Dodd-Frank regulatory overhaul enacted after the 2008 crisis – as well as its partial rollback under President Donald Trump.

Trump eased oversight of small and regional lenders when he signed a far-reaching measure designed to lower their costs of complying with regulations.

A measure in May 2018 lifted the threshold for being considered systemically important – a label imposing requirements including annual stress testing – to US$250bil (RM1.1 trillion) in assets, up from US$50bil (RM226bil).

SVB had just crested US$50bi (RM226bil) at the time. By early 2022, it swelled to US$220bil (RM994.3bil), ultimately ranking as the 16th-largest US bank.

The lender achieved much of that meteoric growth by mopping up deposits from red-hot tech startups during the pandemic and plowing the money into debt securities in what turned out to be final stretch of rock-bottom rates.

As those ventures later burned through funding and drained their accounts, SVB racked up a US$1.8bil (RM8.1bil) after-tax loss for the first quarter, setting off panic.

“This is a real stress test for Dodd-Frank,” said Betsy Duke, a former Fed governor who later chaired Wells Fargo & Co’s board.

“How will the FDIC resolve the bank under Dodd-Frank requirements? Investors and depositors will be watching everything they do carefully and assessing their own risk of losing access to their funds.”

One thing that might help: SVB was required to have a “living will,” offering regulators a map for winding down operations.

“The confidential resolution plan is going to describe the potential buyers for the bank, the franchise components, the parts of the bank that are important to continue,” said Alexandra Barrage, a former senior FDIC official now at law firm Davis Wright Tremaine.

“Hopefully that resolution plan will aid the FDIC.”

The issues that upended both Silvergate and SVB, including their unusual concentration of deposits from certain types of clients, were “a perfect storm,” she said. That may limit how many other firms face trouble.

One complication is that the Fed has less room to help banks with liquidity, because it’s in the midst of trying to suck cash out of the financial system to fight inflation.

Another is that a generation of bankers and regulators at the helm weren’t in charge during the last period of steep interest-rate increases, raising the prospect they won’t anticipate developments as easily as their predecessors.

Indeed, even bank failures have been rare for a time. SVB’s was the first since 2020.

“We’re seeing the effects of decades of cheap money. Now we have rapidly rising rates,” said Noreika. “Banks haven’t had to worry about that in a long time.” — Bloomberg 

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Crypto shaken as SVB exposure depegs US$37bil stablecoin

  

Inflation data to test US stock market | The Star

 

SVB fallout spreads around world from London to Singapore

 

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Sunday 19 June 2022

An empire of lies

 


An empire of lies


 
 
 
The so-called "Uyghur Forced Labor Prevention Act," which maliciously denigrates the human rights situation in China's Xinjiang while disregarding facts and truth, will come into effect on June 21.

The act is the latest example of how the US launches disinformation campaigns against China. Experts noted that starting from funding anti-China think tanks and scholars to authoring malicious, false reports, the hyping up of relative topics in the media, and interference from US politicians, the US government enacts such evil laws. In its mastery of creating disinformation, the US, on April 27, announced the creation of the Disinformation Governance Board under the US Department of Homeland Security. However, the board was shut down after just three weeks after serious concerns were raised.

"The US government itself is the primary spreader of disinformation. German writer Michael Lüders pointed out in his book The Hypocritical Superpower that the US government is very adept at selecting and distorting facts, limiting the source of information, and polarizing public opinion in order to blur facts and influence people's judgment. When the waters are muddied, it is certainly easier to fish for geopolitical and economic gains," said Foreign Ministry Spokesperson Zhao Lijian at a media briefing on June 8, in response to a question related to the Disinformation Governance Board.

Last month, former US President Barack Obama's speech on disinformation and democracy sparked heated discussions. While what he tried to say was that disinformation is harmful to US democracy, many netizens pointed out that his words actually exposed how the US had launched disinformation campaigns in other countries, including meticulous propaganda operations designed to mislead citizens and result in a lack of confidence in their leaders.

"Large-scale propaganda is an important part of the US global strategy to establish, maintain, and consolidate its global dominance. The institutionalized US foreign communication strategy was accelerated after World War II," Lü Xiang, a research fellow at the Chinese Academy of Social Sciences, told the Global Times.

Cuban Ambassador to China, Carlos Miguel Pereira, told the Global Times that the US likes to fuel its powerful propaganda machine to present a distorted world view that does not correspond to reality to protect its political interests.

Lüders told the Global Times in a previous interview that the US is "hypocritical because while it always cites higher values, in reality, it pursues a kind of power politic that is tough and cold-blooded. Its reference to 'higher values' is being manipulated."

Experts noted that the US employed "white", "black" and "gray" propaganda, and the latter two are mostly carried out by agencies such as the CIA and Defense Department in a covert manner. It is estimated that 40 percent of the CIA's covert operations are propaganda programs.  

Three types of propaganda

In 1951, the US government set up the Psychological Strategy Board (PSB), a committee comprised of the State Department, the Department of Defense, and the CIA. In 1953, the Operations Coordinating Board (OCB) under the command of the National Security Council was formed to further propose the US government's information and psychological warfare programs while the PSB was abolished.

In 1961, former US President Kennedy abolished the OCB as it was believed that secret wars should not be publicly overseen by so many officials. Since then, the agency in charge of psychological warfare became a mystery.

However, based on the analyzed related materials and US government documents, we can still have a broad understanding of how the US conducts information and psychological war abroad, Lü said.

After more than a century of practice, the US formed a complete set of international communications mechanisms. That is, the NSC led inter-department cooperation, to conduct either covert or overt communications operations. They use "idealism" as a cover to achieve their "realistic" interests in their international communication disclosures. This strategic communication, to a great extent, helps maintain US global dominance, Lü noted to the Global Times.

According to Lü, an important characteristic of US national and international communication is that it pursues "ideological thrust" and "weaponized information." That is to say, all the conveyed messages must serve US national strategic interests and goals.

Lü listed three types of propaganda that the US adopts in its strategic communication.

The "white" propaganda refers to osmotic propaganda based on the government's public activities, including public diplomacy led by the US State Department and the state-owned media represented by Voice of America.

The "black" propaganda refers to propaganda activities carried out through covert action. Many propagandist activities carried out by the CIA, the Department of Defense, and other agencies fall in this category, which includes a large number of infiltration activities such as secretly controlling domestic and foreign media and buying off politicians.

The CIA has a long history of manipulating media outlets worldwide for its secret propaganda purposes. According to an article in The New York Times in 1977, dozens of English and foreign language publications have been owned, subsidized, or influenced by the CIA over the past three decades. To shape world opinion, the CIA was able to call upon many news outlets in its worldwide propaganda campaign.

Some of its officials admitted to The New York Times that they were concerned about the possibility of "blow-back" - that is - some of the purposely misleading or downright false information spread by the CIA abroad may be picked up by US reporters overseas and included in their dispatches to publications at home.

The "gray" propaganda refers to engaging "opinion leaders" and workers in the media industry in relevant countries to act as spokespersons for US interests by means of behind-the-scenes bribes and inducements, so as to promote the interests of the US and influence the decisions of relevant governments, Lü said.

According to the Los Angeles Times, in 2005, the US military secretly paid newspapers in Iraq to run stories written by US military information operations troops with help from a defense contractor to "burnish the image of the US mission in Iraq." Nearly $1,500, for instance, was paid to Addustour newspaper to run an article titled "More Money Goes to Iraq's Development." The Los Angeles Times also found out that the Pentagon had contracted a Washington-based firm named the Lincoln Group to plant these stories.

The "gray propaganda" and "black propaganda" are mostly carried out by agencies including the CIA and the US Defense Department and the secrecy of these plans is hard to uncover, Lü said.

Scholar Loch Johnson estimated that a full 40 percent of CIA secret operations are propaganda programs. "Whatever foreign policies or slogans the White House may be pushing" at the time, the CIA "will likely be advancing these same ideas through its covert channels," he said.

Newscasters work on their broadcast at Radio and TV Marti headquarters on Jan 24, 2007 in Miami, Florida. The anti-Castro broadcasting network is overseen by the US Broadcasting Board of Governors. Photo: AFP

Newscasters work on their broadcast at Radio and TV Marti headquarters on Jan 24, 2007 in Miami, Florida. The anti-Castro broadcasting network is overseen by the US Broadcasting Board of Governors. Photo: AFP

US' harm to the world

Ambassador Pereira told the Global Times that the destabilization campaigns and subversion programs from the US government against Cuba are nothing new.

According to the ambassador, in 2021, the Joe Biden administration asked Congress for $20 million for so-called "democracy in Cuba" programs, and almost $13 million for illegal radio and television broadcasts.

The ambassador said that in 2021, they found that the federal agency USAID granted 12 organizations based in Florida, Washington, and Madrid dedicated to the anti-Cuban campaign, more than $6.6 million, in the month of September alone.

"The US has unleashed a media offensive aimed at discrediting the management of the Cuban government, through the manipulation and politicization of issues such as human rights and the fight against terrorism, as well as generating mistrust around the Revolution, for which it deploys today with full intensity, its subversive component to try to influence sensitive and strategic sectors for the future of the country, such as our youth, through social networks, in which private US platforms such as Facebook and Twitter are known to predominate," he said.

Such methods include creating Facebook groups, the use of robots and fake accounts on Twitter, or trying to recruit Cuban residents in Miami to spread falsehoods about Cuba as though they were in the country.

During the violent July 11 unrest in 2021 in Cuba, an account based in Spain and managed by US institution posted more than 1,000 tweets a day to fuel the unrest, according to the diplomat.

From 1996 to 2021, the US Congress allocated around $404 million for supposed democracy programs under the Helms-Burton Act, an act seeking international sanctions against the Castro government. Likewise, between 1984 and 2021, the US Congress had allocated nearly $945 million for illegal broadcasts on Radio and TV Martí.

Radio and TV Martí is a Miami-based radio and television international broadcaster financed by the US federal government which transmits news to Cuba.

In November, the Ethiopian government urged the US government and relevant organizations to stop spreading falsehoods about the country.

Ethiopia's state minister of communication, Kebede Dessisa, said the US government should "refrain from disseminating shameful fake news and defamation regarding Ethiopia," state broadcaster EBC reported.

The US likes to claim that it acts in the name of freedom, democracy, and human rights but there is a huge gap between this idealism and reality. Their disinformation causes great harm which ordinary citizens have to bear, experts said.

The US used white powder as so-called evidence of possession of weapons of mass destruction then waged war on Iraq, killing about 200,000 to 250,000 Iraqi civilians. Citing a staged video by the "White Helmet" and the false intelligence it provided as "evidence", the US launched the so-called "most precise air campaign in history" against Syria, claiming more than 1,600 innocent civilian lives in a single strike.

Info war on China

Since the normalization of China-US relations, the US has not abandoned its use of ideological weapons and US intelligence agencies' rumor mill capabilities to contain China's development and undermine political stability, Lü said.

Since 2018, the US has incessantly hyped "human rights" topics in China's Xinjiang Uygur Autonomous Region. Its modus operandi, as Lü pointed out, includes letting the media first create ambiguous topics, followed by intelligence agencies selecting suitable candidates and presenting them as "fugitives" to accept interviews in the media, followed by so-called research reports by anti-China think tanks. After that, the US government usually mobilizes several "human rights organizations" that it either secretly or openly supports to proliferate the topic and call for "sanctions." Thereafter, the US government follows the suit.

Zhao Lijian also listed how the US launched a disinformation campaign during the COVID-19 pandemic at the June 8 media briefing.

"You may still remember that the US downplayed the threat and speed of the coronavirus disease's transmission at the start of the COVID-19 pandemic, and kept spreading disinformation about the origins of the virus. Disinformation about COVID-19 was rated by a certain US website as "2020 Lie of the Year." As a result, more than one million innocent American lives have been lost to the virus, making the US the country with the highest COVID-19 death toll as well as the most confirmed cases," Zhao said.

"The more lies the US government tells, the greater the reputational damage and its credibility deficit," he said. "The US needs to stop fabricating and disseminating false information, and stop taking pride in being "an empire of lies."

According to the 2022 Edelman Trust Barometer, only about 39 percent of American respondents said they trusted their country's government, which is nearly the lowest level ever recorded. 

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Saturday 30 April 2022

Unmasking the superpower

 


 

Human rights development much broader in China than in the West


<<Danny Haiphong. Photo:Courtesy of Haiphong

  Western concept of democracy lacks historical contexts, disrespect cultural difference, conquest by force, colonisation, slavery, genocide, human rights, doctrine of discovery embodied in their laws !