Dow has worst one-day drop of all time as new Fed chair sworn in

The Dow plunged below 25,000 today, wiping out this year’s gains and marking the second straight day of losses.

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Source Article from https://www.yahoo.com/news/dow-worst-one-day-drop-154422264.html

RNC finance chair steps down after sexual harrassment allegations

Steve Wynn

    

Steve Wynn, a US casino mogul and ally of President Donald Trump, has stepped down as the finance chairman of the Republican National Committee (RNC) following reports of sexual harassment.

On Saturday, The Wall Street Journal newspaper reported citing Wynn’s employees and other individuals, that these people had been subjected to sexual misconduct by Wynn.

“Effective today I am resigning as Finance Chairman of the RNC. The unbelievable success we have achieved must continue. The work we are doing to make America a better place is too important to be impaired by this distraction. I thank the President for the opportunity to serve and wish him continued success,” Wynn said in a statement, cited by Politico new outlet late on Saturday.

Wynn denied the claims of his sexual misconduct and called the idea that he ever assaulted a woman “preposterous.”

The ex-finance chairman of the RNC suggested that such claims were the result of his ex-wife Elaine Wynn who is seeking a revised divorce settlement.

The publication also cited Elanie Wynn’s spokesman as saying that his client had never thought to renegotiate the deal.

After the Wall Street Journal’s article emerged on Saturday, Wynn was criticized by Democrats, who had been blasted by the Republicans in autumn 2017 for receiving contributions from Harvey Weinstein, a movie mogul who is facing multiple allegations of sexual harassment.

Source Article from https://www.sott.net/article/375580-RNC-finance-chair-steps-down-after-sexual-harrassment-allegations

DNC Deputy Chair Poses With Antifa Handbook

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Democratic National Committee Deputy Chair Keith Ellison endorsed Antifa on Wednesday, tweeting a picture of himself smiling with an Antifa handbook. This is bad! Wanna know why? Read here what in that Antifa Handbook… its 100% pure anti-white hatred.

Ellison posted a picture with “Antifa: The Anti-Fascist Handbook” and asserted that the book would “strike fear in the heart” of President Donald Trump.

Antifa is a far-left group that uses violence to achieve progressive political ends, including starting riots and fires at the University of California, Berkeley. While the group claims to be anti-Fascist, they routinely shut down the speech of people they disagree with.

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DNC chair Perez: 'I heard Charles Barkley loudly and clearly'

WASHINGTON — Democratic National Committee Chairman Tom Perez addressed NBA legend Charles Barkley’s critique of his party during a Wednesday press conference call in which he discussed Doug Jones’s upset victory in Alabama’s special Senate election. Perez suggested he agreed with Barkley’s view that Democrats have taken low-income and African-American voters “for granted.”

“We have to earn back the trust of voters. I heard Charles Barkley loudly and clearly, and I accept his challenge for the Democratic Party moving forward,” Perez said.

Jones became the first Democrat to win a U.S. Senate seat in Alabama in 25 years when he defeated Republican Roy Moore on Tuesday following sexual misconduct allegations against the former judge. Jones’s victory was heavily aided by African-American voters, who turned out in even larger numbers than they did in the 2012 presidential election when Barack Obama, the first black president, was running for his second term. And the African-Americans who voted in Alabama on Tuesday overwhelmingly backed Jones, with 93 percent of black men giving him their vote and 98 percent of African-American women putting their support behind him, per exit polls.

Barkley, an African-American Alabama native who campaigned for Jones, said this should be a “wake-up call for Democrats” during an interview from Jones’s victory party, which aired on CNN Tuesday night.

“Democrats … they’ve taken the black vote and the poor vote for granted for a long time. It’s time for them to get off their ass and start making life better for black folks and people who are poor,” Barkley said. “They’ve always had our votes, and they have abused our votes. … This is a wake-up call for Democrats to do better for black people and poor white people.”

On the conference call the morning after the race, Perez did not dispute Barkley’s claim.

“I think it’s undeniable that, in the past, the Democratic Party all too frequently took voters for granted, especially in communities of color, also frequently as well in rural pockets of our nation. And we’ve suffered the electoral consequences from that,” Perez said.

Democrat Hillary Clinton’s loss to President Trump in the 2016 presidential race has widely been attributed to weakening support among working-class white voters. Clinton also saw less African-American turnout than Obama. Black voters generally back Democrats and are a key part of the party’s coalition.

Perez — who took the reins of the DNC in February and is the first Latino chair of the committee — promised to rebuild the party following Clinton’s loss. In recent months, the party has been on a winning streak in key races with the win in Alabama and victories in gubernatorial elections in New Jersey and Virginia. During the conference call on Wednesday, Perez repeatedly described Jones’s victory as evidence of a “new Democratic Party” and said “the days of taking voters for granted are in the rearview mirror.”

“The new DNC is all about organizing in every zip code, leading in every zip code, talking to people and building relationships in every ZIP code,” said Perez. “We understand that so many minority communities across this country, they deserve our attention. They’ve earned our attention, and the new Democratic National Committee is engaging just that.”

Yahoo News asked Perez what strategies the DNC used to boost Jones’s turnout and whether they expect to be able to replicate that success in other races. Perez said almost all of the nearly $1 million the DNC invested in the Alabama Senate race was spent on African-American and millennial turnout. He also said the DNC has increased its investment in state party organizations to focus on “critical communities” and built a $10 million “innovation fund” focused on black, Latino, millennial and rural voters. Specifically, Perez described the African-American vote as key to the party’s future.

“The African-American vote was the linchpin of Doug Jones’s success,” Perez said. “And once again we saw what we’ve seen across the nation: African-Americans generally and African-American women are the backbone of the Democratic Party.”

Read more from Yahoo News:

Source Article from https://www.yahoo.com/news/dnc-chair-perez-heard-charles-barkley-loudly-clearly-160100265.html

DNC Chair Encounters Unexpected Turbulence On Univision

Cozy relationships will only take you so far, as was recently proven when DNC Chairman Tom Perez got caught trying to pull a fast one on last week’s edition of Univision’s Al Punto.

Watch what happens as Perez tried to explain away the explosive allegations contained in predecessor Donna Brazile’s new book, and is stopped cold by Jorge Ramos:

TOM PEREZ, CHAIRMAN, DEMOCRATIC NATIONAL COMMITTEE: Donna Brazile and other people said we have to improve the process.

JORGE RAMOS, HOST, AL PUNTO, UNIVISION: No, no she did not say that. That is not true. She said something else. She said the Hillary Clinton campaign had taken a part in and was a cancer inside the party, and that she had made a very difficult call to Bernie Sanders to tell him that this situation was a cancer inside the party. That it what she said. 

It must be said that Univision was the earliest among the networks to cover Brazile’s charges of primary-rigging by the Clinton campaign. Univision’s doggedness in covering this story comes off as a shock, given the network’s relationship with the Clinton campaign in 2016- a sure sign of the Clinton fade from the national political conversation.

The interview reminds us that Jorge Ramos can commit acts of journalism when he feels like it. Tom Perez, now stuck with the unenviable task of cleaning up the DNC, learned the hard way that there is no such thing as a gimme “friendly” interview anymore. 

Source Article from https://www.newsbusters.org/blogs/latino/jorge-bonilla/2017/11/11/dnc-chair-encounters-unexpected-turbulence-univision

Former GM vice chair says the automotive era is ending

Bob Lutz is kind of confusing for us TreeHuggers. Having both denounced the “theory” of manmade climate change and championed the birth of the Chevy Volt plug-in hybrid, it’s perhaps understandable that we’re not quite sure what to make of him.

But one thing is certain: He’s a car guy. Which makes the article he just wrote for Automotive News all the more surprising. Here’s just a snippet:

“It saddens me to say it, but we are approaching the end of the automotive era. The auto industry is on an accelerating change curve. For hundreds of years, the horse was the prime mover of humans and for the past 120 years it has been the automobile.Now we are approaching the end of the line for the automobile because travel will be in standardized modules.”

The balance of economic power will shift from car makers to fleet operators, says Lutz, and the transition will be more or less complete within the next 20 years—meaning the end of car dealerships and auto mechanic shops as we know them too. Of course, we’ve heard folks like Tony Seba make such predictions before, and with even more aggressive timelines to boot. And Lloyd has long been arguing we need to rethink our dependence on the car. But Bob freaking Lutz is now saying that the days of personal car ownership are numbered?! That’s headline grabbing news for sure.

Whether or not the timeline is correct, it is beginning to seem like the direction of travel is set. The more interesting question, I think, is whether we can grab the opportunity to reshape our cities as things change—or whether we’ll simply superimpose a system of automated Ubers over our existing car dependent infrastructure and miss out on the chance to create something better.

From bike superhighways to pedestrianized city centers, from repurposed parking garages to reused old alleyways, cities and towns will have countless ways that they can realign themselves toward people—not cars.

So how do we make it happen?

Source Article from https://www.treehugger.com/cars/former-gm-vice-chair-says-automotive-era-ending.html

Trump Campaign Chair & Fmr State Sen. Indicted for Child Sex Trafficking and Child Porn

childchild

Moore, OK — This week, former Oklahoma Sen. Ralph Shortey was accused in a federal indictment of multiple counts of child sex trafficking and child pornography offenses. He is now facing the possibility of a minimum prison stay of 15 years.

After the federal grand jury meeting in Oklahoma City returned their four indictments this week, Shorty, 35, pleaded not guilty. He wiped away tears as officials read out his child sex trafficking and child pornography offenses.

Despite being caught in the act Super 8 motel room in Moore, Oklahoma, Shortey was released after agreeing to a series of stringent conditions including wearing an ankle monitor and having his computer monitored. He also must stay away from all children except his own.

As TFTP previously reported, the charges came after Shortey was busted in a motel room in March with an underage boy.

The investigation was launched when the teen boy’s parents called police after finding disturbing text messages between him and their son. When police began their investigation into the texts, they found Senator Ralph Shortey in a motel room with the boy.

As KOCO 5 reported at the time, police obtained a search warrant that was served during the investigation. Using the search warrant, police said they found the juvenile’s Kindle Fire tablet that contained conversations between him and Shortey pertaining to sexual activities in exchange for money. The tablet was seized as evidence.

During the raid on the hotel room, the boy admitted to selling weed to Shortey in the past and said he had known him for about a year. When police searched the Kindle found in the room, they found evidence of Shortey attempting to solicit “sexual” stuff from the underage teen.

Police also noted that they smelled marijuana and found a backpack with a bottle of lotion and condoms, according to the report.

Shortey, who has been a senator since 2010, is no stranger to media coverage, as his controversial bills have garnered him quite a bit of attention over the years. Shortey was also the state chair of President Donald Trump’s campaign during the primary elections.

“I am proud and honored to have been tapped as Chairman of the campaign for Oklahoma,” Shortey wrote on his Facebook Sept. 2015, according to The Lost Ogle. “We are very excited for the opportunity to have Mr. Trump here,” he said, announcing a rally for Trump at the Oklahoma State Fair.

Shortey resigned only weeks after the scandal began to unfold and he maintains his innocence despite the horrific child pornography found on his devices. According to News Oklahoma,

The federal grand jury accused Shortey in the first child pornography count of using his smartphone in October 2013 to email a video of a man engaging in sexually explicit conduct with a prepubescent girl.

He is accused in the second child pornographic count of using his smartphone that same month to email sexually explicit videos of young boys.

He is accused in the third child pornography count of persuading the boy he later took to the Moore hotel to send him an inappropriate picture.

He is accused in the child sex trafficking count of soliciting that boy in March to engage in a commercial sex act. The boy is identified in the indictment only as “John Doe.”

Since he was elected in 2010, the senator has led a secret double life, according to the indictment. For over seven years, through a series of fake names and fake email addresses, Shortey dealt in child pornography and began soliciting minors.

As news Oklahoma reports, federal prosecutors revealed in a court filing Wednesday that the investigation found Shortey communicated “with numerous individuals, many of whom appear to be underage boys.”

While Shortey faces a minimum of 15 years behind bars if he is convicted of one charge, if he is convicted of all the charges against him, he will be in prison for life— a charge fitting for a man who takes pleasure in watching the suffering of young children.

Source Article from http://thefreethoughtproject.com/senator-child-trafficking-indictment/

Sloane Stephens falls off her chair swatting a fly at US Open press conference (VIDEO)

Coming out of an 11-month recovery process following surgery on her foot, the number-83-ranked Stephens, who started training only in May, has had a great run in the on-going US Open tournament.

Beating Sevastova on Tuesday night, 6-3, 3-6, 7-6 (4) she has reached her second-ever Grand Slam semi-final, where she will now face Venus Williams.

It’s interesting to note that two days prior to her match with Stephens, Sevastova knocked Russia’s Maria Sharapova out of the tournament.

READ MORE: ‘I can take a lot from this week’ says Maria Sharapova after US Open exit

While battling her opponents on the court did not appear to be a problem for the 24-year-old Florida native, an unexpected attack by a flying insect at the press conference seemed to perturb her quite a bit.

“Oh my God, what is that that?” said the athlete falling from her chair.

“It’s a fly,” replied one of the reporters.

“Oh my God, looked like a dragon!” she said, still on the floor.

“That was a lot, I am so sorry,” Stephens said, while getting back on the chair.

The insect, however, came back and kept attacking the tennis player, who then grabbed one of her sneakers and started battling the bug with it.

“I don’t like bugs. That’s so disgusting. I don’t know where they came from,” said Stephens, when the insect was finally gone.

The Stephens-Williams semi-final match will be hosted at the Arthur Ashe Stadium in Flushing Meadows Corona Park in Queens, New York on Friday.

Source Article from https://www.rt.com/sport/402330-sloane-stephens-fly-press-conference/?utm_source=rss&utm_medium=rss&utm_campaign=RSS

Fed Vice Chair Stan Fischer unexpectedly resigns “for personal reasons”

In a shocking announcement, the latest rat to abandon the sinking ship – because it is far less fun to navigate the world’s biggest economy when you are raising rates than when injecting trillions – Federal Reserve Vice Chairman Stanley Fischer has announces his decision to step down effective October 13 (Friday), citing “personal reasons” in letter of resignation to President Donald Trump. His term as vice chair was set to expire on June 12, 2018.

Fischer’s resignation increases vacancies on the Fed Board from three to four, with Yellen and Brainard and Powell remaining the only members on the Board. This could accelerate Senate confirmation of Randal Quarles to be Vice Chair for Supervision, which will be considered tomorrow in the Senate Banking Committee and looks likely to approved by the full Senate prior to Fischer’s planned departure, according to Goldman.

In his letter, Fischer praises America’s economic growth during his tenure, and says that “informed by the lessons of the recent financial crisis, we have built upon earlier steps to make the financial system stronger and more resilient and better able to provide the credit so vital to the prosperity” of the US.

In one of his last public appearances, Fischer warned about complacency over market risks, and said that the price of “risky assets,” had increased in most major asset markets in recent months, including equities, which now stand in the top quintile of historical distributions.

the increase in prices of risky assets in most asset markets over the past six months points to a notable uptick in risk appetites…. Measures of earnings strength, such as the return on assets, continue to approach pre-crisis levels at most banks, although with interest rates being so low, the return on assets might be expected to have declined relative to their pre-crisis levels–and that fact is also a cause for concern.”

Complimenting Fischer, in the Fed’s statement, Janet Yellen said that “Stan’s keen insights, grounded in a lifetime of exemplary scholarship and public service, contributed invaluably to our monetary policy deliberations. He represented the Board internationally with distinction and led our efforts to foster financial stability.”

Full Fed statement below:

Stanley Fischer submits resignation as a member of the Board of Governors, effective on or around October 13, 2017

Stanley Fischer submitted his resignation Wednesday as Vice Chairman and as a member of the Board of Governors of the Federal Reserve System, effective on or around October 13, 2017. He has been a member of the Board since May 28, 2014.

“Stan’s keen insights, grounded in a lifetime of exemplary scholarship and public service, contributed invaluably to our monetary policy deliberations. He represented the Board internationally with distinction and led our efforts to foster financial stability,” said Chair Janet L. Yellen. “I’m personally grateful for his friendship and his service. We will miss his wise counsel, good humor, and dry wit.”

Dr. Fischer, 73, was appointed to the Board by President Obama for an unexpired term ending January 31, 2020. His term as Vice Chairman expires on June 12, 2018. During his time on the Board, he served as chairman of the Board’s Committee on Financial Stability as well as the Committee on Economic and Financial Monitoring and Research. He represented the Board internationally including at the Financial Stability Board, the Bank for International Settlements, the Group of 20, the Group of Seven, the International Monetary Fund, and the Organisation for Economic Co-operation and Development.

Before joining the Board, Dr. Fischer was governor of the Bank of Israel, from 2005 to 2013. He was vice chairman of Citigroup from February 2002 to April 2005. He served as first deputy managing director of the International Monetary Fund from September 1994 through August 2001. From January 1988 to August 1990, he was the chief economist of the World Bank. He was a professor of economics at the Massachusetts Institute of Technology from 1977 to 1999 and associate professor from 1973 to 1977. Prior to joining the faculty at MIT, he was an assistant professor of economics and postdoctoral fellow at the University of Chicago.

Dr. Fischer was born in Lusaka, Zambia, in October 1943. He received his B.Sc. and M.Sc. in economics from the London School of Economics. He received his Ph.D. in economics from the Massachusetts Institute of Technology in 1969.

Dr. Fischer is married with three adult children.

Via ZeroHedge


Featured Image: Statue of an eagle over the entrance to the headquarters of the Federal Reserve in Washington, D.C. (Tim Evanson/Flickr)

Source Article from https://www.intellihub.com/fed-vice-chair-stan-fischer-unexpectedly-resigns-for-personal-reasons/