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atlanticcanada · 2 years

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'Whatever it takes': N.S. mother and daughter lead efforts to help family fleeing Ukraine

A mother and daughter in Timberlea, N.S., are fundraising to help family members fleeing Ukraine rebuild their lives.

Julia and Alina Guk have launched a GoFundMe page and have raised over $8,700 so far.

"Whatever it takes is what we’re trying to do," Julia Guk said. "We’ve been so overwhelmed with gratitude for everyone who has contributed."

After a harrowing journey, her cousins and aunts arrived in Italy, where they are waiing for Canada’s immigration office to approve their application. Other relatives recently arrived in Poland.

In both cases, husbands and fathers stayed behind to fight.

The Guks also have family who refuse to leave Kyiv.

"Every morning we check to make sure they’re alive," Guk said.

She describes them as people who have never left Ukraine, are optimistic Ukraine will win the war, and have difficulty imagining they'll leave Ukraine for the first time now.

"We’re fortunate they still have internet connection because that is what we use to connect with them."

At times, hours go by without contact causing anxiety to escalate.

The war has pushed over 3.5 million people from Ukraine into neighbouring countries. The overwhelming majority have been women and children.

At the borders, the United Nations has seen an increase in the number of children crossing alone.

"So children who’ve lost their families along the route or are who making this journey alone," said Rema Jamois, Canada’s representative for the United Nations High Commissioner for Refugees.

Vulnerable to exploitation and trafficking, the UN is registering them and working to find their families.

Rema Jamois is in Nova Scotia this week to look at a pilot project out of Pictou County. It has been successful in matching employers with qualified refugees.

RefugePoint, a non-profit serving at-risk refugees, and the Pictou County Regional Entreprise Network successfully matched skilled refugees in Kenya with Glen Haven Manor, a long-term care facility in New Glasgow.

The United Nations High Commissioner for Refugees (UNHCR) says it believes it could address shortages in the local health care sector, and lead to similar efforts across the country.

"We’re here to talk to some organizations and the minister and see where and how we can support the expansion of that," Jamois said. "We’re also here to recognize the incredible work of the City of Halifax, which has also done a great deal in terms of creating a very positive and welcoming environment for refugees."

Preparing for family arrivals

As the Guks prepare for the potential arrival of their family, they say they know much is needed besides financial support.

"Many people in Ukraine don’t speak English," Guk said.

"How will we make sure they’re able to access those supports around language?"

Two of her cousins are school-aged, leaving behind their fathers. Another cousin is in her 20s, newly married, and had to leave without her husband.

"People have been so kind offering furniture and clothing," Guk said.

When Alina Guk asks her family what's needed, they say to tell people, "NATO needs to close the sky" -- a move NATO refuses to do for fear the situation could escalate.

"Something has to be done and changed because obviously it’s not enough," Alina Guk said, noting people in the country are without power, water, and food -- especially in Mariupol, a city under siege.

Julia Guk wants Maritimers to think about how Canada and Nova Scotia can support Ukrainians arriving.

"Around things like daycare, language, increasing capacity through some of the programs that are already available," she said.

She says she believes schools and parents should be preparing children for the possibility of having new classmates who can’t speak English and will need assistance.

from CTV News - Atlantic https://ift.tt/YgH53ZP

#new brunswick #prince edward island #nova scotia #news #politics #canada #CTVAtlantic

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sexydeathparty · 2 years

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Putin 'Setting The Scene' For Use Of Chemical Weapons In Ukraine, Say Western Officials

Vladimir Putin could be “setting the scene” for the use of chemical or biological weapons in Ukraine, according to Western officials.

Officials said on Wednesday they were “very concerned about the risk of escalation” as the humanitarian situation worsened and the Russians “tighten the noose” around Kyiv.

“We have good reasons to be concerned about possible use of non-conventional weapons,” one official said. “It’s a serious concern for us.

“We see a bit of setting the scene for that in the false flag claims that are coming out.”

The official said Western worries were based on what had happened during the war in Syria, which saw the use of chemical weapons.

It came as Ukrainian president Volodymyr Zelenskyy accused Russia of hitting a maternity hospital in Mariupol in the south east of his country.

“Direct strike of Russian troops at the maternity hospital. People, children are under the wreckage,” he said. “Atrocity!

“How much longer will the world be an accomplice ignoring terror? Close the sky right now! Stop the killings! You have power but you seem to be losing humanity.”

Nato has so far ruled out imposing a no-fly zone over Ukraine as Zelenskyy has requested, amid warnings it would lead to a direct war between the West and Russia.

Earlier, defence secretary Ben Wallace announced the UK was sending more weapons to Ukraine to help its effort against the Russia’s invasion.

He told MPs that the UK has delivered 3,615 anti-tank weapons and will shortly be supplying a “small consignment” of Javelin anti-tank missiles.

“In response to a Ukrainian request, the Government has taken the decision to explore the donation of Starstreak high-velocity manned portable anti-air missiles,” Wallace added.

“We believe that this system will remain within the definition of defensive weapons but will allow the Ukrainian force to better defend their skies.”

Travelling at more than three times the speed of sound, according to the British Army, Starstreak can be shoulder-mounted or attached to a vehicle.

It was deployed during the London Olympics in 2012, positioned on rooftops near the Olympic stadium.

Related...

UK Considers Sending Anti-Air Missiles To Ukraine Warning: 'We Will Not Back Down'

from HuffPost UK - Athena2 - All Entries (Public) https://ift.tt/CUPG6RH via IFTTT

#IFTTT #HuffPost UK - Athena2 - All Entries (Public)

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warninggraphiccontent · 4 years

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10 July 2020

In-cite-ment

Busy week, so I'll spare you much rambling today. Except a brief rant about having one of our charts tweeted (great!) by a prominent journalist (#impact!) who... went to the trouble of cropping out any attribution (#*@%$!). Something similar has happened to the excellent Our World in Data project in recent weeks, from a Nobel laureate (who seems to have taken the criticism on board) and a leading satirical TV show (who haven't).

Journalists, economists and comedians would be among the loudest to complain if someone did the same to their work. It's easy to cite (it's the internet age - you could even *link*). Certainly easier than making the chart yourself. Good charts are hard to come by and hard work.

Elsewhere:

A couple of government developments that were easy to miss - the future of the Surveillance Camera and Biometrics Commissioners, and a consultation? inquiry? something looking at strengthening communities which has a bit about data at the end.

Congratulations to the winners of this year's Orwell Prizes for political writing!

This is just wonderful.

And I'm not throwing away my shot to include some #dataviz about one of the greatest cultural achievements of the last decade, so its arrival on a certain streaming service is excuse enough. What comes next? Take a look at the And finally.

Have a good weekend

Gavin

Today's links:

Graphic content

Viral content

Britain’s emotional journey through COVID: Impact on wellbeing (Behavioural Insights Team)

Australia places Melbourne under 6-week coronavirus lockdown* (FT)

How the coronavirus pandemic changed mobility habits, by state (Axios)

Tracking the coronavirus across Europe* (The Economist)

Face-off over face-masks: Europe’s latest north-south split* (The Economist)

Six months, six countries, six families — and one unrelenting, unforgiving epidemic* (Washington Post)

What is missing from the online debate around COVID-19 digital tools? (IPR, University of Bath)

“.. we find a positive correlation between levels of [credit-card] activity three weeks ago and the spread of COVID-19 since then.” (J. P. Morgan, via Carl Quintanilla, via Marcus)

The economy

The Recessionals: why coronavirus is another cruel setback for millennials (FT)

Covid-19 Is Bankrupting American Companies at a Relentless Pace* (Bloomberg)

Money really can buy happiness and recessions can take it away* (The Economist)

Easing does it: Economic policy beyond the lockdown (Resolution Foundation)

Charting the Global Economy: Job Worries and Cash Hoarding* (Bloomberg)

Corona shock: July* (Tortoise)

‘It’s a matter of fairness’: squeezing more tax from multinationals* (FT)

Sunak will not be able to play Santa Claus forever* (FT)

UK’s growth rate could be revised after large revisions to official data* (FT)

Banks Are Ditching London Offices and Not Just Because of Covid-19* (Bloomberg)

#BlackLivesMatter

Confederate Statues Were Never Really About Preserving History (FiveThirtyEight)

Black Lives Matter May Be the Largest Movement in U.S. History* (New York Times)

How Much Does Your School Contribute to Segregation? (Urban Institute)

Academics are mapping the legacy of slavery in Britain’s cities (CityMetric)

New census reveals extent of lack of ethnic minority representatives in local councils (The Conversation)

Why Statistics Don’t Capture The Full Extent Of The Systemic Bias In Policing (FiveThirtyEight)

UK government

Permanent secretaries (me for IfG)

Ministerial directions (IfG, being updated shortly - more here)

Infrastructure and Projects Authority annual report 2020 (Infrastructure and Projects Authority - more here)

Departmental spending (House of Commons Scrutiny Unit)

Iron the prize

Ready to take your data skills to the next level? Iron Viz is back for 2020 with our biggest prizes yet (Tableau)

The Design & Thinking Process of my Winning Iron Viz “The Global Journey of Refugees” (Hesham Eissa)

The Process Behind Building a Winning Iron Viz Feeder Dashboard (Lindsey Poulter)

Everything else

How is flooding affecting your community? (The Pudding)

EU settled status applicants exceed official tally* (FT)

Integrity Watch EU – Parliament meetings (Transparency International)

Boohoo comes out fighting after market tears it to shreds* (FT)

Martin Wolf: ‘Democracy will fail if we don’t think as citizens’ (FT)

EU COALITION EXPLORER (ECFR)

UK CIVIL SOCIETY ALMANAC 2020 (NCVO)

WHAT CAN THE UK CIVIL SOCIETY ALMANAC TELL US ABOUT CHARITIES’ CHALLENGES NOW AND IN THE FUTURE? (NCVO)

There was a vote in Russia last week, on making Putin president for life (Arseny Khakhalin)

2020 attention tracker: The Trump policy trap (Axios)

We've seen new records in atmospheric CO2 concentration almost every May, and of course May 2020 is no different (Gregor Aisch)

Meta data

Viral content: testing times

Coronavirus: The inside story of how UK's 'chaotic' testing regime 'broke all the rules' (Sky News)

How government blindfolded frontline public health experts fighting Covid’s next phase (Manchester Evening News)

Central control: why has the government withheld testing data from councils? (The Bureau of Investigative Journalism)

Councils need detailed data to contain Covid-19. Why have they been sidelined? (The Guardian)

Coronavirus: Ireland's Covid Tracker app is out - where's England's? (BBC News)

No date yet for functioning Covid-19 app, DHSC test and trace chief says (Civil Service World)

Viral content: everything else

COVID-19 Report: No green lights, no red lines (Ada Lovelace Institute)

How the coronavirus pandemic is changing social media (Reuters Institute)

Open letter: Reducing barriers to data access for research in the public interest—lessons from covid-19 (BMJ)

COVID-19 and the Digital Divides (Oxford Internet Institute)

DISINFORMATION’S SOCIETAL IMPACT: BRITAIN, COVID, AND BEYOND (Defence Strategic Communications, the official journal of the NATO Strategic Communications Centre of Excellence)

Coronavirus deaths: Taking stock of what we’ve seen so far – and what might happen next (ONS)

Parliamentary votes during COVID-19 (mySociety)

Four lessons the COVID-19 crisis can teach us about data-driven storytelling (World Economic Forum)

AI etc

A Bretton Woods for AI: Ensuring Benefits for Everyone (Rockefeller Foundation)

What can go wrong when governments let algorithms make decisions* (Apolitical)

AI ETHICS: A STRATEGIC COMMUNICATIONS CHALLENGE (Defence Strategic Communications, the official journal of the NATO Strategic Communications Centre of Excellence)

Black Lives Matter shows governments need to rethink their approach to AI and data ethics* (Apolitical)

AI ecosystem in Canada (McGill University)

An online propaganda campaign used AI-generated headshots to create fake journalists (The Verge)

Big tech

The Loss Of Public Goods To Big Tech (Noema)

Apple under pressure to act after TikTok pulls out of Hong Kong (The Guardian)

Civil society news

Finding, building, and retaining data expertise in social accountability organizations (Transparency and Accountability Initiative)

Catherine Stihler to leave Open Knowledge Foundation to lead Creative Commons (Open Knowledge Foundation)

The data unit is one of the teams being lost as part of the BBC England cuts (via Paul Bradshaw)

Government

NaPTAN - the most popular dataset you’ve never heard of (DfT Digital)

ADR UK-sponsored event explores the value of admin data, from Covid-19 responses to a better justice system (ADR UK)

Data Bites 12 (IfG)

GDS 'under duress' - is there a row going on down near Whitechapel? (Computer Weekly)

How secure is government and should we have a right to know? (Public Technology)

Everything else

A new approach to decisions about data (Understanding Patient Data)

Finally! A way to analyse NHS data from 17 million people (UnHerd)

Closing the Data Divide: The Need for Open Data (Microsoft Open Data Campaign)

Is now the time to build a national planning register? (Unboxed)

Goodbye to the Wild Wild Web* (New York Times)

What women can do for data and what data can do for women (Computer Weekly)

Call for Evidence: Technologies for spreading and detecting misinformation (The Royal Society)

Moving online – how ONS is digitising its labour market surveys (ONS)

Opportunities

New job opportunities with GOV.UK at the Government Digital Service (GDS)

JOB: Senior Data Journalist (ONS)

JOB: Senior Data Visualisation Producer (ONS)

JOBS: Senior analysts (Government Data Quality Hub - civil servants only)

JOB: Senior campaigner (Digital Action)

JOB: Program Officer, Thematic Policy Areas (Open Government Partnership)

JOB: Data Analyst & Storyteller (The Data City)

JOB: Communications and Administration Assistant (360Giving)

JOB: Senior Partnerships Manager (ODI)

JOB: GIS Lead Software Developer (Defra)

EVENT: Shaping a post-pandemic future: The role of data and technology in institutional reform (Centre for Progressive Policy)

CONSULTATION: Legislative framework for the governance of common European data spaces (European Commission)

And finally...

Satisfied?

An Interactive Visualization of Every Line in Hamilton (The Pudding)

How does ‘Hamilton,’ the non stop, hip-hop Broadway sensation tap rap's master rhymes to blur musical lines? (Wall Street Journal)

‘Hamilton’ Would Last 4 To 6 Hours If It Were Sung At The Pace Of Other Broadway Shows (FiveThirtyEight)

Food glorious food

If anyone has a recipe site that is Purple, please let me know... (Mark Bradbourne)

What a melon chart this is (via Jon Schwabish)

Sport and leisure

Do Empty Stadiums Affect Outcomes? The Data Says Yes* (New York Times)

Who Did What in Every Agatha Christie Murder Novel* (Bloomberg)

Everything else

Why time feels so weird in 2020 (Reuters)

Venn diagrams* (Tortoise)

Peers need to be reminded to unmute more often than MPs (Giuseppe)

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jessicakehoe · 5 years

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Iceland Is Way More Than the Blue Hot Springs You See All Over Instagram

I’m standing on a ledge at the end of Víðgelmir cave, a nearly 1,600-metre-long lava tube just under two hours by car from Reykjavík in West Iceland’s Hallmundarhraun lava field. Above ground it’s summer, a time when the sun hardly sets in this part of the world, but down here it feels like winter and it’s pitch-black.

The tour guide leading our excursion instructs us to turn off our headlamps, the only source of light. “Now let your eyes adjust,” he says. “You’ve probably never experienced complete darkness before, and your brain may start doing some weird things.” While my pupils acclimate to the blackness (I’m starting to see faint lightlike formations), he tells us about Iceland’s Huldufólk (“Hidden People”)—a ghost story of sorts.

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Almost as soon as you enter The Cave it becomes completely dark and the temperature drops to about 1 degree Celsius. The lights that have been installed inside the lava tube illuminate incredible rock formations and gorgeous colours. @bustraveliceland #cave #iceland #tour ( 📷 @bicnick )

A post shared by Reykjavik Grapevine (@rvkgrapevine) on Aug 3, 2016 at 6:36am PDT

In this tiny country inhabited by fewer than 350,000, the stories about the Huldufólk are more than just folk tales and could date as far back as the Viking period, when scholars first found mention of the word alfar (“elf”). These elusive beings are believed to be abnormally beautiful, ranging in height from several centimetres to a few metres, and reside in an invisible dimension in the cracks of rocks, caves and mountainsides—and among Icelanders, this belief is widely held. According to a 2017 poll carried out by local magazine The Reykjavík Grapevine, 67 per cent of respondents said they believe in elves, while a 1998 survey found 54 per cent of the population to be believers. Back in 1982, some 150 activists marched on NATO’s Keflavík base in search of elves thought to be endangered by the military operations.

According to a 2017 poll carried out by local magazine The Reykjavík Grapevine, 67 per cent of respondents said they believe in elves, while a 1998 survey found 54 per cent of the population to be believers.

According to folklore, the Huldufólk are neither good nor evil and keep mortals in line, exercising their power to reward good behaviour and punish malice while encouraging the preservation of Iceland’s many natural wonders. Passed on through generations, these tales impart a kind of moral code to life here and figure as prominently in the naming of landmarks and geographical features as the Western world’s saints and statesmen.

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After the rain comes the rainbow 🌈🇮🇸 . . . #tbt #iceland #dream #travel #adventure #me #wanderlust #sea #sun #sky #skyporn #clouds #blue #nature #beautiful #landscape #travelling #travelgram #travelphotography #life #amazing #beauty #landscapephotography #love #instatravel #instagood #photooftheday #igers #happy #weather

A post shared by Matteo Bargetto (@matteobargetto) on Nov 20, 2018 at 3:32am PST

The Snæfellsnes Peninsula, at the western tip of the country—known for its gold- and pink-sand beaches—honours half-troll half-man Bárður Snæfellsás, who is said to live in the Snæfellsnesjökull glacier and serve as the area’s protector. You wouldn’t want to incur his wrath by building, say, a condo project atop this nature reserve.

Iceland is located on a hot spot on the Mid-Atlantic Ridge. The surface of the earth beneath this Nordic nation is unusually thin, which is the catalyst behind its geothermal activity and the geothermal energy that has been helping power it since the 1930s. It’s this energy that allows the country to remain largely self-sufficient, and it has a burgeoning agriculture industry. Iceland is actually home to Europe’s largest banana plantation, which puts that geothermal energy to use heating greenhouses. Plans to share the wealth of clean energy are already in the works, in the form of a power interconnector between Iceland and the United Kingdom. At 1,000 kilometres, it will be the longest the world has ever seen.

There’s a sense of exhilaration that comes with being in a place on the verge of combustion.

There’s a sense of exhilaration that comes with being in a place on the verge of combustion, with countless hot springs bubbling up everywhere and a somewhat apocalyptic landscape of lava fields and scorched earth. The midnight sun casts this already otherworldly place in a surreal light from late May until July: A walk home from dinner under pale blue skies at 11:30 in the evening becomes anything but ordinary, while spotting white-beaked dolphins dancing out of the water on a nighttime whale watching excursion is almost too magical to be believed.

Even underground, there’s a whole world to discover, with networks of lava caves carved violently through the earth, the scar of volcanic fury. As I climb up out of Víðgelmir into the sprawling lava field, the warm air envelops me and thaws out my extremities; I might as well be on another planet. On the drive back to Reykjavík, our tour bus makes a final stop, at Barnafoss waterfall. Travel is all about escape—from work, from monotony, from reality—and natural wonders are the ultimate antidote to anxiety. No, your negative thought processes won’t reverse as you peer at a peaceful waterfall, but watching milky glacier water rushing over lava rocks just might melt your worries away.

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Barnafoss Falls Hraunfossar, Iceland #PeterinIceland

A post shared by Peter in Transit (@peterintransit) on Sep 24, 2018 at 1:44pm PDT

iframe.instagram-media { position: static !important; }

And while you’re there, here are a few items actually worth checking off your tourist checklist.

Eat

Icelandic cuisine is more than just fermented shark and whale meat—actually, those fishing practices are largely kept alive by tourists seeking exotic culinary experiences. At Grillið, located on the top floor of the Radisson Blu Saga Hotel, the food is elegant and straightforward, showcasing Iceland’s most beautiful ingredients, like lumpfish roe, arctic angelica and some of the world’s highest quality lamb. I will be dreaming of their potato bread with cep butter and roasted garlic velouté for the rest of my days. The panoramic view of Reykjavik didn’t hurt either.

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Wow, wow, wow! #thebluelagoon is amazing. Definitely one for the #bucketlist 😍. #iceland #bluelagooniceland #worldtraveler

A post shared by Shirley-Ann (@underanenglishsky) on Nov 9, 2018 at 6:28am PST

Experience

The Blue Lagoon (that silica mud mask is better than the most expensive exfoliating treatment from Sephora to Ulta), Hallgrimskirkja (which more closely resembles a spaceship than a church) and whale-watching are all worth checking out. Elding Adventure at Sea offers late-night tours during midnight sun season, a must if you happen to be visiting in summertime. Make sure you go out on at least one excursion beyond the limits of Reykjavik. Whether you head east, west, north or south, you’re bound to find a wealth of waterfalls, glaciers, volcanic craters and natural swimming spots.

Getting There

WOW Air is the airline that made this magical place accessible to non-executive first class budgets, offering cheap fares from major cities around the world—including Montreal and Toronto. From the airport, grab a shuttle with Flybus into the city center and they will take you right to your hotel, hostel or Airbnb.

The post Iceland Is Way More Than the Blue Hot Springs You See All Over Instagram appeared first on FASHION Magazine.

Iceland Is Way More Than the Blue Hot Springs You See All Over Instagram published first on https://borboletabags.tumblr.com/

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the-truth-just-sounds-bette-blog · 7 years

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How many are aware that ‪China‬ is currently making a major power move against America in attempt to dethrone the petrodollar as the current dominate global currency particularly in the petroleum market? China has recently made the decision to begin pricing oil in their own currency the 'yuan' - this petroyuan will be backed by gold and has the potential to change the dynamics of the whole world’s economy. The petrodollar on the other hand is backed by paper, non repayable debt, death and destruction. Is this de-dollarization just a long time coming or a carefully crafted plan brought on by a much larger shadow agenda to strategically shift all countries towards a one world currency? The pendulum of great civilizations has always moved back and forth through their rise and fall. The real question is, how much more can our national debt rise before we actually fall? One of the main reasons the USD is still standing today is because America maintains an agreement with the Saudis (+ OPEC) to only sell oil in USD. Back in 1973, Kissinger flew to Saudi Arabia and struck the most critical/criminal deal in the history of humanity. He convinced the Saudi Monarch King to only trade their oil for US dollars, in return for US support to their Dynasty. Saudi Arabia agreed and then convinced the other OPEC countries to also only trade their oil in US dollars - since oil is the most important commodity that every country has to buy this forced all the nations to first buy US paper for their real labor and other precious commodities.. soon enough the entire world was quickly converted into the slave of US paper currency. The USA, on the other hand, gets their oil and other real world stuff absolutely free of cost which is the greatest oppression in the history of humanity. But times are changing and countries (+ their people) all over the world are waking up to the nightmare that is The Empire of Debt.. by now most of the world has figured out that their continual use of the petrodollar is not only financing perpetual military expansion by the US but also concurrently paying for their own eventual demise. Under 8 years of Obama the national debt doubled with nothing to show for it. We are over $20 trillion in debt as a country. Everyone knows this sum can never be paid off, it is simply not feasible. Do people think this number can continue to rise forever? We literally take out more loans by the day just to cover our interest owed. Forbes magazine recently published an article titled 'Federal Debt Is Reaching $20 Trillion & That's Not A Bad Thing' - the article begins with an analogy comparing the staggering national debt to how much money Mark Zuckerberg allegedly borrowed to get Facebook off the ground. Could people actually believe that this comparison is relative in any way whatsoever in the real world?! Since China is the world’s top oil importer, Beijing now only sees it as logical that its own currency should price the global economy’s most important commodity. But beyond that, moving away from the American dollar is a strategic priority for many other key countries such as Russia, Iran, Venezuela, North Korea. Now they will be able to bypass American sanctions by cutting out the American petrodollar completely in order to buy oil. The USD could lose its global dominance completely in the near future especially if China is successful in compelling oil giant Saudi Arabia to also use the petroyuan. Remember, China is the world’s biggest oil importer on the planet and money talks. Will money backed my gold speak louder than money backed by paper? If so, that feat could mean the end of the US petrodollar as the worlds reserve currency of choice - we must realize that such a shift has the ability to totally change the global trade market. The transition from a petrodollar to petroyuan is beneficial to every nation except the U.S. While the sky may not be falling just yet, the power of the US dollar is officially on life support. Would the U.S. attack North Korea as a stern warning to China or would it bring China into the conflict in an attempt to save the U.S. dollar? Saddam Hussein wanted to trade in Euro’s instead of the US dollar for Iraq’s oil exports and Libya’s Gadaffi wanted the Gold Dinar to dethrone the U.S. dollar in the continent of Africa. The decisions made by those leaders of Iraq and Libya (to eliminate the American dollar from oil trade) had severe consequences that ultimately led to their destruction by US and NATO. The American dream died the day Nixon's team enacted a plan in 1971 to end the dollars convertibility to gold. We, as a country now; print money out of thin air, invade countless countries worldwide and routinely commit atrocities without any regard whatsoever for international law. As a direct result, the whole world has become fed up with Americas ever growing greed for power and disregard for human life via invasion/occupation. Whether you agree or not, a currency war has begun and we should all be paying very close attention in the coming months and years ahead to see just how far Washington will go to maintain the supremacy of the U.S. dollar. So as China now prepares to launch the petroyuan on a global scale, is the U.S. willing to launch a war against North Korea? Even though I should clearly 'know better' by now, I can honestly say that I never cease to be amazed that the mainstream media is barely reporting a single whisper re: world powers' plans to move to petroyuan and potentially change the global balance of power completely. This, my friends, is called mass distraction. Wake up, stay smart and keep your eyes wide open. ❤️✌🏼

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melindarowens · 7 years

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S&P Futures At Record High After “Shocking” UK Election Result

“Triple Threat Thursday” is now a distant memory, with both the ECB and Comey testimony “non-events” for the market, although the UK general election was a shocker in which contrary to expectations, Theresa May lost her majority in Parliament, sending sterling tumbling overnight and prompting even more confusion about the UK’s political fate and the future of Brexit. That however did not spook risk assets, and on Friday morning, European stocks gained with Asian stocks little changed, while S&P500 futures were set for new all time highs. Just like after Brexit, it was U.K. stocks that rallied the most among developed markets as the pound fell.

With the majority of seats counted, May’s Conservatives had no way to win an outright majority in parliament. That raised fears the political turmoil could delay and confound talks on leaving the European Union, which are due to start in less than two weeks, and the pound shed over 2 percent against the dollar.

Sterling dropped as low as $ 1.2636 in early London trading, before clawing back some ground. Yields on 10-year gilts fell 3 basis points to 1.00 percent. However, the damage contained, with S&P futures edging up 0.2 percent to 2,434, and just shy of record highs.

“The uncertainty is bad news for sterling,” said Bank of America, Merrill Lynch European equity & cross-asset strategist James Barty. “I think for the global market it doesn’t matter. Unlike Brexit, which at the time had a spillover into other markets, this is a very UK-specific thing.”

Most impacted by the UK result was the pound, which plunged the most in eight months as the election intended to strengthen Prime Minister Theresa May’s hand in negotiations with the European Union instead cast doubt over her future. The currency’s retreat gave British stocks a boost, but the election’s impact beyond the U.K. was muted.

The euro extended losses to three days, and the Stoxx Europe 600 Index swung. Fears of a supply glut continue to weigh on oil, but it managed to reverse an earlier decline.

“For now, the results of U.K. elections do not appear to be threatening the global growth story,” Mark Haefele, global chief investment officer at UBS Group AG, said in a note to clients. But for Britain,“political uncertainty is likely to more than offset any benefit from a marginally weaker pound,” he said.

The FTSE 100 Index jumped 0.8 percent. The Stoxx Europe 600 Index swung before trading little changed. Futures on the S&P 500 rose 0.1 percent. The underlying gauge advanced less than one point on Thursday, for a second day of gains.

In other overnight news, there was muted reaction to China inflation report as producer prices missed expectations, and eased further; PBOC reverse repos close to maturities; overnight Hibor falls for sixth day; Shanghai Composite closed modestly higher.

Overnight, Wall Street had also seemingly judged that the testimony of former FBI director James Comey was not life-threatening for the administration of President Donald Trump. Comey accused Trump of firing him to try to undermine the investigation into possible collusion by his campaign team with Russia’s alleged efforts to influence the 2016 election.

“I think the market is taking less of an alarmist review of this situation because there is no smoking gun here,” said Jefferies & Co money market economist Thomas Simons. “So it’s not particularly impactful for thinking about … Trump’s economic agenda to go through.”

In commodity markets, spot gold was 0.3% lower at $ 1,274.20 an ounce. Oil prices remained subdued, wit Brent having settled at its lowest since Nov. 29, the eve of an OPEC production cut deal.

Bulletin Headline Summary from RanSquawk

UK PM May’s Conservative Party failed to win a majority in the UK general election although are still the largest party in government

The Northern Irish DUP are expected to support the Conservatives in a “confidence and supply” arrangement, not a formal coalition

Theresa May is now scheduled to head to Buckingham Palace to request to form a government

Market Snapshot

S&P 500 futures up 0.2% to 2,434.25

STOXX Europe 600 down 0.1% to 388.76

MXAP down 0.03% to 155.14

MXAPJ unchanged at 505.75

Nikkei up 0.5% to 20,013.26

Topix up 0.08% to 1,591.66

Hang Seng Index down 0.1% to 26,030.29

Shanghai Composite up 0.3% to 3,158.40

Sensex down 0.06% to 31,193.17

Australia S&P/ASX 200 up 0.02% to 5,677.80

Kospi up 0.8% to 2,381.69

German 10Y yield unchanged at 0.257%

Euro down 0.3% to 1.1178 per US$

Brent Futures down 0.4% to $ 47.69/bbl

Italian 10Y yield fell 12.1 bps to 1.884%

Spanish 10Y yield fell 2.8 bps to 1.448%

Brent Futures down 0.3% to $ 47.70/bbl

Gold spot down 0.3% to $ 1,274.34

U.S. Dollar Index up 0.5% to 97.43

Top Overnight News

May’s Future in Doubt After Brexit Election Gamble Backfires

Hard Brexit in Doubt as U.K. Voters Reject May’s Strategy

Deutsche Bank Says Can’t Share Information on Trump Relationship

Comey, Trump Accuse Each Other of Lying in Wake of Hearing

China’s Power Capital Said to Pursue Bid for Welltower Portfolio

Engie, Orix Said to Mull Bids in $ 4b Equis Renewable Sale

Bank Stocks May Move as House Passes Dodd-Frank Rollback Bill

Saudis Have a Lot to Lose in Qatar Fight, Even If They Win

Calatlantic Group Secondary Offering Prices at $ 34.25 Apiece

Endo Reviewing FDA Request to Pull Opana ER From Market

HNI Cuts Outlook Because of Slow Office Furniture Sales

Asian equities have been somewhat unreactive to this hurdle for PM May and the uncertainty now surrounding the UK political front, with Asian bourses as well as US equity futures relatively mixed. Nikkei 225 (+0.7%) has been the outperformer thus far following the softness in the JPY, which had been looking to test yesterday’s high around 110.40. Shanghai Comp (+0.2%). and Hang Seng (-0.1 %) struggled to find any firm direction, while the marginal gains in the ASX 200 (+0.2%) were led by the rise in miners. Finally, 10yr JGB traded marginally higher as yields trickled lower throughout the session, with JGB’s also supported by the BoJ’s rinban operation.

Chinese CPI (May) Y/Y 1.5% vs. Exp. 1.5% (Prey. 1.2%).

Chinese PPI (May) Y/Y 5.5% vs. Exp. 5.6% (Prey. 6.4%)

Top Asian News

China’s Factory Inflation Eases as Raw Material Prices Decline

Philippines Suspends Resorts World Manila’s Casino Permit: BTVPh

Great Wall Motor Gains as Strong Pre-Orders Seen for New Model

Li Ka-Shing’s Firms Slump as Falling Pound Hurts Profit Outlook

Hong Kong Stocks Retreat From 2015 High Amid Overheating Signs

Dalian Iron Ore Caps Third Weekly Drop on Steel Market Outlook

SoftBank Boosts Japan Stocks, Beating Impact of ‘Super Thursday’

Little Impact Seen From U.K. Vote, ECB Meet, Comey: Asian NDFs

In European trading, the weaker GBP has benefitted UK equities with the FTSE 100 opening higher by over 1% before paring some of the gains amid the political uncertainty over what comes next. Utility companies led the way higher with SSE and Centrica both near the top of the FTSE, while large multinationals were helped by the depreciation in the GBP. Unsurprisingly, banking names such as Lloyds and RBS, declined while homebuilders also fell as the increased uncertainty could ultimately slow house purchases. Defensive sectors drove gains in other European equity markets with health care stocks performing well across the region. Gilts opened lower but recovered as UK equity markets reversed some of the gains. The UK data had little impact on UK asset classes despite industrial output rising less than expected in April, after declining for the previous three months.

Top European News

Young Seek Revenge on Old as Divided Britain Upends its Politics

Airbus Warns U.K. Government: Retain Labor Mobility to Save Jobs

U.K. Heads for Hung Parliament as May’s Election Gamble Fails

U.K. Industrial Output, Manufacturing Rise Less Than Forecast

DUP Said to Consider Arrangement to Ensure May Has Support: Sky

M&G Bond Manager Says Election Could Lead to Second Brexit Vote

In currencies, the initial reaction was seen in the GBP after the exit poll released on Thursday evening, which showed the Conservatives would fall short of a majority. GBP/USD then dropped to its lowest level in 7 weeks as reports emerged that Theresa May would not resign, although some profit taking saw GBP/USD bounce a little off its lowest levels. Other FX markets have been relatively unreactive with JPY weakness observed amid USD/JPY demand at the Tokyo fix. Today sees large options (2.1 bIn) expire at today’s 1000am NY cut. The pound weakened 1.7 percent to $ 1.2732 at 10:58 a.m. in London. The yen retreated 0.3 percent to 110.35 per dollar. The euro slipped 0.3 percent to $ 1.1181. The Bloomberg Dollar Spot Index added 0.4 percent, gaining for a third day.

In commodities, WTI and Brent crude futures both stabilised after the large declines seen in the early part of the week and since the OPEC meeting in early June. The market has largely shrugged off the geopolitical tensions in the Middle-East with Qatar and other Gulf countries. West Texas oil gained 0.5 percent to $ 45.89 a barrel, after two days of losses. Crude has slumped this week as an unexpected increase in U.S. crude stockpiles cast doubt on OPEC’s ability to rebalance world crude markets. Gold fell 0.3 percent to $ 1,274.18 an ounce, declining a third day.

Looking at the day ahead, while the fallout from the UK election will no doubt be front and centre, there is also a little bit of data to get through. This morning in Europe we get more hard data points with more industrial production prints due in France and the UK along with trade data out of Germany and also the UK. In the US we are due to receive the wholesale trade report. The EU/NATO Conference is also due today. It’s worth also noting that this Sunday France begins the two-step process to elect a new National Assembly with polls due to close on Sunday evening. The second round is on June 18th.

US Event Calendar

10am: Wholesale Inventories MoM, est. -0.3%, prior -0.3%

10am: Wholesale Trade Sales MoM, est. 0.2%, prior 0.0%

* * *

DB’s Jim Reid concludes the overnight wrap

You’ll wake up to shock and chaos this morning here in the UK. In numbers terms this election result is a bigger surprise than Brexit or Trump if not quite on the same scale in terms of wider global market implications.

I say wake up as if you’re like me you haven’t been to bed yet so forgive my rambling. With 516 out of 650 seats declared at 4.25am the BBC/ITV forecasts are that the ruling Conservative party will fall a handful of seats short of an overall majority. They may be able to form a working majority with the help of the Northern Irish Unionist Parties (who may win around 10 seats) but if so this would still be a very weak government and PM Theresa May might be vulnerable given she staked her reputation on holding this very early election when her party had a 10-20% lead in the polls. Another election is possible at any time really. How this leaves the Brexit negotiations is a complete mystery. The range of eventual outcomes are now much wider on this front. Hard line Brexit Tories will hold more power in a weak Tory administration of some form but the possibility of fresh elections relatively soon and an alternative more soft line approach is also a possibility. Given we’re on a tight Brexit timetable this is not great news for the UK. The Europeans must be watching with some amusement. Overall it’s going to be constitutional chaos in the UK for the foreseeable future. Ironically the Conservative Party look set to win around 44% of the vote and increase their share – an impressive number in the context of recent decades. However as we discussed yesterday the return to a two party state hasn’t allowed them to run away with things.

In markets Sterling immediately tumbled -1.96% as soon as the exit poll hit the screens, touching a low of $ 1.2709. It’s recovered a little but is still down -1.62% versus yesterday’s close. The moves have mostly been contained in the currency. FTSE 100 futures are -0.20% while S&P 500 futures are actually up slightly. Safe havens like Gold (-0.60%) and the Yen (-0.26%) are weaker and Treasuries are flat. Bourses in Asia are generally flat to up +0.90% too.

Whatever the overall results of this election some of the stats about potential age demographics of the voters is very interesting. Sky did a poll on election day and found amongst 18-34 year olds Labour were on 63% and Conservatives 27%. With 35-54 year olds both were on 43% and over 55 year olds Labour on 23% and Conservatives on 59%. Labour made a huge push for the young who don’t normally vote in high numbers and the Conservative Party actually proposed policies that worked against their natural older vote perhaps thinking their early lead in the polls gave them an opportunity to try to balance the books more. So were the young more motivated than normal and were the elderly less motivated? It’s fascinating as this shows the dilemma a lot of politicians have around the world. We generally have a wealth divide where the older generation (who normally vote) have a high proportion of it relative to the young who are generally in debt and/or in many countries unemployed. It feels this divide is at the higher end of the historical range.

Are the young starting to rebel more and are looking for hope? Can you politically afford to attack the wealthier older voter to help redistribution? One of the big themes of our long-term study last year was that we thought we were at the end of a 35 year super cycle of policy, politics and with it interest rates and asset prices. Our argument was that the Trump and Brexit vote marked the turning point when the disenfranchised were starting to actually win elections/ referendums. If policy wasn’t increasingly calibrated to these ‘forgotten’ people then the incumbents would get voted out. What we felt was that this would mean more fiscal spending, bigger deficits and less reliance on monetary policy at least until fixed income markets rebelled and then you’d probably get central banks forced to monetise that debt. This was our slow roadmap for the future and nights like last night may be another inching towards that. As Mr Trump has discovered it’s not easy to increase spending though but I think the trend will be up in the years to come.

There’s no doubt that this will dominate the rest of Friday for markets but investors have also got the ECB to mull over following an overall fairly dovish outcome from yesterday’s policy meeting. The most significant part of the statement and as largely expected was the removal of the “or lower” rates guidance and also upgrading economic growth forecasts by 0.1pp. Mario Draghi also said that risks to the growth outlook are now “broadly balanced” which represented an upgrade to neutral. However, the inflation tone was distinctly dovish. Draghi described the outlook for core inflation for the rest of the year as “low and flat” which as our European economists aptly put is “insufficient”. Core inflation forecasts for 2018 and 2019 were revised lower by 0.1pp to 1.4% and 1.7%. Our colleagues note that these numbers are still consistent with a gradual exit but the ECB can afford to take it slowly. Our team highlight another two important points from the meeting. The first is that there was not a single hint of the ECB preparing the ground for tapering or a phasing out of QE and the second is that the Council is cautious about wage inflation. As a result, our economists have now pushed back their timing of exit. They had expected a taper pre-announcement decision in September and one-off depo hike in December. However they now expect a six-month extension of QE to be announced in December at a slower pace of €40bn. QE will likely continue in H2 2018 at a slower pace still and a oneoff depo rate hike cannot be excluded in mid-2018 if further concessions need to be made to the hawks. In summary the start of the policy rate tightening cycle is more likely to be mid-2019 than end 2018. You can find more in our economists’ report here.

Markets reacted swiftly to the ECB with the Euro edging lower initially before consolidating into the close to finish -0.38%, although it is down another -0.27% this morning and below $ 1.120. Benchmark Bund (-1.3bps) and OAT (-4.8bps) yields were both lower although it was the periphery which stood out with yields down 5bps to 13bps although as you’ll see shortly for reasons as much linked to Italian politics. 10y Treasury yields were actually a little higher (+1.6bps to 2.189%) while the S&P 500, despite getting a decent boost from Banks, limped to a +0.03% close. The James Comey testimony ended up being mostly a nonevent with both sides trading blows and accusing each other of lying, but as we had seen on Wednesday there was no silver bullet to really get markets excited about. It’s worth noting that late last night the House Republicans passed a bill to dismantle parts of the Dodd-Frank Act following a 233-to-186 majority. The Bill passes to the Senate now however it’s not expected to have much chance of passing in its current form.

Staying with markets, as noted above the standout mover in European bond markets yesterday was BTPs. 10y yields fell 12.8bps to 2.154% and the most since March 2016. This followed lawmakers in the ruling Democratic Party saying that the push to reform the country’s electoral law was “dead” which in turn lowered the probability of a snap election as early as this autumn. This followed the far right anti-establishment 5SM rejecting the proposal in a parliament debate yesterday. The FT suggested that the PD and 5SM could still go back to the drawing board in the coming days however so it might not be the last we hear of it. Led by Banks, the FTSE MIB also rallied to the tune of +1.46% yesterday which was in the context of the Stoxx 600 (-0.01%) closing more or less flat.

Back to Asia this morning where inflation reports have also been released in China. Headline CPI for May has nudged up three-tenths to +1.5% yoy, matching market expectations, however PPI slipped a little more than expected to +5.5% yoy (vs. +5.6% expected) from +6.4% in April. That makes it three straight monthly declines in the annual PPI reading although as a reminder that does follow 14 straight months of acceleration.

With regards to the remaining data yesterday, in the US the sole release was the latest weekly initial jobless claims print which came in at 245k and which has left the four-week moving average at a still low 242k. In Europe the main focus was on the final Q1 GDP revision for the Euro area which was revised up onetenth to +0.6% qoq after expectations were for no change. That also saw the annual rate notched up two-tenths to +1.9% yoy and the highest since Q4 2015. Away from that Germany reported a better than expected +0.8% mom uplift in industrial production in April (vs. +0.5% expected). That has lifted annual growth to +2.9% yoy from +2.2%.

source http://capitalisthq.com/sp-futures-at-record-high-after-shocking-uk-election-result/ from CapitalistHQ http://capitalisthq.blogspot.com/2017/06/s-futures-at-record-high-after-shocking.html

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everettwilkinson · 7 years