Category Archives: Financial

It’s been another tough week for Tesla

Bloomberg Businessweek reported Tesla factory workers were given Red Bull to stay awake to meet aggressive Model 3 production goals (and told to walk through a raw sewage spill to keep the line moving).

Also, because Tesla has delivered 200,000 cars to US buyers, customer tax credits are getting chopped in half from $7,500 per vehicle to $3,750.

(This means that customers who buy electric vehicles from Mercedes-Benz or BMW will receive the full tax credit, making those rivals more attractive.)

Not to mention, Tesla already has to contend with a $50,000 electric BMW i3 that has been leased for as little as $54/month.

At such a trivial price point, that’s pretty tough competition.

But the biggest blow for Tesla came from an ex-employee, now Securities and Exchange Commission whistleblower, Martin Tripp.

Tripp was fired by Tesla last month after allegedly hacking into the company’s computers, leaking false info to the media and stealing secrets (all of which Tripp denies).

Musk accused Tripp of “damaging sabotage” in an internal memo. He then engaged Tripp in an email spat that went public, telling him “you have what’s coming to you” and calling him “a horrible human being.”

On July 11, Tripp fired back by formally filing a tip with the SEC alleging Tesla lied to investors and used damaged batteries in its cars (which, come to think of it, do have a tendency to spontaneously combust.)

Tripp’s alleges Tesla:

  • Knowingly placed batteries with dangerous puncture holes in cars and tracked them through the end of the assembly line process
  • Overstated the number of Model 3s being produced each week by as much as 44% (Tripp went so far as to say Tesla even inflates the numbers on the production counter on the factory floor)
  • Lowered safety standards, including placing battery cells too close to each other, which risks future combustion
  • Reused parts that were deemed scrap/waste in vehicles

Image result for tesla burning battery

Clearly, Tripp’s accusations might be completely bogus. But he’s not the first to allege that Tesla has misled investors either.

After all, Tesla has been under federal investigation in a year-long government probe before… which is a pretty big deal.

And they didn’t bother letting investors know.

So if Tripp’s allegations are true, Musk would be caught red-handed lying to investors about production numbers (which has a direct impact on the stock price) and disregarding safety issues to save a buck (which can kill people).

It’s convenient this is all coming out after Musk’s pay package, worth as much as $50 BILLION, was approved by shareholders… the largest CEO pay package in the history of the world.

Despite these potentially crippling allegations, Tesla’s stock price barely moved yesterday. Clearly the market doesn’t care.

And Musk continues his PR mission, offering to help the trapped Thai soccer team and, most recently, offering to help Flint, Michigan residents with contaminated water, tweeting:

Please consider this a commitment that I will fund fixing the water in any house in Flint that has water contamination above FDA levels. No kidding.

Listen, I’m not knocking the guy for trying to do some good. And in truth, I like a lot of what Elon Musk has done.

But if my shareholders just granted me a pay package worth $50 billion, you can bet I’d be laser-focused on creating value for them…

Or, at least generating some profits.

Don’t forget, Tesla has racked up $5 billion in operating losses under Musk.

And the company is likely going to need to raise somewhere between $5-$10 billion in the next couple of years to stay afloat.

We know it won’t actually make money by ramping up its production (for which its employees are having to pull all-nighters and walk through sewage) because the company actually loses money on each car it sells.

Remember the investor letter from hedge fund Vilas Capital Management, which is short Tesla and in April said “Tesla is going to crash in the next 3-6 months.”

From Vilas’ April note:

Given that the company lost $20,000 per [vehicle] last year, due to the fact that it cost more to build, sell, service, charge and maintain these cars than they collected in revenue. . . we predict it will impossible for Tesla to make a profit on a $35,000 to $50,000 car.

So despite:

– potentially lethal allegations filed with the SEC claiming that Tesla is lying to shareholders and knowingly putting its customers in danger

– employees complaining of horrible working conditions

– burning through billions of dollars of shareholder capital

– and a CEO who won a $50 billion pay package seemingly more worried about his public image than actually making money for investors…

. . . Tesla’s stock is still not falling!

This is a pretty clear sign of investor euphoria.

As Warren Buffett says, when people get greedy, it’s time to be fearful. Not only is the action in Tesla a sign of greed, it’s also a sign of complete ignorance of reality.

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Democracy: Brexit is dead – strangled at the weekend by Prime Minister Theresa May and her cabal of Remainer cronies.

It was a brilliant coup, masterfully conducted with a sadist’s attention to detail. All the ministers in the Cabinet were hauled up to Chequers, the Prime Minister’s country residence, where their phones were confiscated, as though they were naughty children. Then the stubbornly pro-Brexit ones who were rightly disgusted by the shaming sell-out deal May had cobbled together with her virulently Remainer civil servants were given the same choice Rommel was in 1944: cyanide pill or slow career death.

Related image

The cyanide pill option would have involved resigning immediately on principle: but then being ritually humiliated by having their official car confiscated and having to walk to the train station via the mile-long drive, or catch a cab, with a £67,000 pay cut.

A letter to each minister, leaked to the press, warned them of this beforehand. Petty, but given how vain ministers are, very effective.

None of the leading Brexiteers present – not Michael Gove, not even Boris Johnson whose last chance this was to establish himself as the credible voice of the Leave resistance – chose to do the decent thing. (Though Brexit Secretary David Davis has resigned since, as has his brilliant and principled junior minister Steve Baker – one of the unsung heroes of the Leave campaign).

Really, though, the “who did what to whom and why?” elements of this story are a distraction from the only thing that matters: Brexit has been sabotaged, democracy undermined, and the people betrayed by the Remainer establishment.

In June 2016, 17.4 million people — more than had ever voted for anything in British history — voted Brexit to free themselves from the clutches of that Remainer establishment. Now the Remainer establishment has responded as only it knows how: by ignoring the democratic will and shoring up its power base by whatever means necessary.

The two articles that best sum it up are this excellent leader from the Sunday Telegraph:

The dream has been dashed. We are still technically leaving, more or less, but there will be no revolution, no new deal between elites and voters, no great reset […]

Remember that British Euroscepticism began life as a revolt against petty regulations and controls – and all of those rules governing light bulbs and vacuum cleaners and working hours, however small they might have seemed, were indicative of the EU’s bureaucratic, integrating agenda. How ridiculous then that Britain should leave the EU only to voluntarily tie itself to those same rules. Even worse, we are willingly giving up the right to push through radical free-market or pro-competition reforms by sticking to the EU’s social policies. How can we, as the world’s sixth largest economy, and a major market for the EU, be willing to hobble ourselves in such a way? We won’t be able to have our own competition policy, or energy policy, and we will remain part of a myriad of bodies and schemes. And why this obsession with access for manufactured goods, rather than for the dominant services sector? Why not trade one for the other: after all, that is what any sensible negotiator would have done.

Last Friday felt like a political coup by the establishment, and an abject surrender by the Brexiteers in Cabinet, along with their colleagues who say that they now accept Brexit.

and this from Brendan O’Neill in the Spectator.

We know two things for sure about the vote for Brexit, and both of them make the political class uncomfortable: first, that the poorer you are, the more likely it is that you voted Leave; and secondly, that most people voted Leave in order that Britain might assume greater sovereign control over her borders and her law-making. This was a fairly working-class revolt against the dilution of British sovereignty by Brussels and our own politicians who love Brussels. I’m sorry, but it was. And what does Theresa May do, cheered on by ‘Soft Brexiteers’ and some Remainers too? She proposes the continued selling-off of British sovereignty through tying us into a customs arrangement that would limit our sovereign decision-making on trade, and keeping us beholden to certain ECJ rulings, which would limit our ability to make and live by our own laws.

This is a betrayal. A grotesque betrayal. It is a haughty rejection, in euphemistic language, of the great cry made by the 17.4m, which was for the recovery of national sovereignty and democratic authority. The electorate said ‘Britain should have control of its borders and laws’, and May says, ‘Actually let’s leave some of that control with Brussels’. This isn’t Soft Brexit; it is Remain by another name. When will our political leaders realize how serious, how historically serious, it is that they are reneging on the largest democratic act in British history? May should go. Chequers this weekend should be her ending. In her place, we need a leader who recognizes the positive, democratic drive behind Brexit, and who is willing to make it a reality. If such a politician exists.

Brexit, it is now becoming clear, was our Peasants’ Revolt in more ways than one.

It was our Peasants’ Revolt in the sense that it was an uprising of ordinary people against an accountable elite.

It was also our Peasants’ Revolt in the way — after a brief pretence that the elite was listening: Richard II rode personally to meet Wat Tyler and his rebel forces at Smithfield — was ruthlessly put down with all the ringleaders executed.

Obviously, in this case the ringleaders of the Brexit rebellion haven’t had their heads chopped off. Just their balls by the looks of it.

These are sad times for Britain. Especially sad, for those of us, like the author of the Sunday Telegraph‘s leader who can remember how good it felt to be alive on the dawn the Brexit referendum result was announced…

Image result for Theresa May

Two years ago felt like one of those special moments in British history where almost anything became possible. Britain voted to leave the EU despite the threats and entreaties of the amassed forces of the global establishment, after a brutal campaign offering the electorate a binary, all or nothing choice, as made clear by both sides.

Here was a chance for change of a magnitude that Eurosceptics of a previous era could not have imagined: to reboot the nation, to introduce deep reforms to our political structures, to rediscover our legal independence, to reorient our economy and geopolitical strategy away from a decaying Europe, to find a new role for ourselves and, after a few inevitable bumpy years, to become a richer, freer country. With laser-sharp focus, a strong leader who believed in the project, and a Reagan-like figure who could describe the shining future that awaited us while gripping the complex legal details, the government could have forced the EU to accept the new reality and come to a mutually-acceptable new settlement. Brexit’s “losers” could have been compensated with huge tax cuts or help of other kinds, smoothing our way out. The opportunities felt immense and exciting.

No longer. The dream has ended. The Remainer establishment has won.

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Bill Gates EXPOSED The Pseudo-Christian Crypto-Jew

According to John Bolton‘s nephew, Greg T Dixon, a Masonic High school friend and informant deeply connected with Freemasonry, Bill Gates is hiding from the goyim public the fact he is really Jewish.

Gates, after his nose job

Gates, after his nose job

 

Dixon said Bill Gates father, Bill Gates Sr., made the decision a long time ago to hide the fact he’s Jewish because he thinks there are far too many “prominent Jews” in America and doesn’t want people to gain suspicion of this fact.

Bill Gates' Jewish Parents

Bill Gates’ Jewish Parents

So, just like that, he became a Christian. Funny thing is, Bill Gates Sr. has a history of doing this. If you check his bio on Wikipedia, it says he changed his name from Bill Gates II to simply Bill Gates Jr. “to avoid the appearance of elitism,” he openly states in the article.

Dixon said Bill Gates mother, Mary Maxwell Gates, is also Jewish and played her part in the Gates family crypto-Jew ruse as well by going to the extremes of commissioning an oil painting portrait tinted to make her look more Aryan than her original Jewish genetic heritage.

Mary Maxwell Gates

Mary Maxwell Gates

If you check Bill Gates bio on Wikipedia [controlled by Jews] it says he is claiming to be of English, German and Scottish-Irish descent, something Dixon says is a blatant lie. And by proxy, every person of English, German, Scottish or Irish descent should be deeply concerned by this elite Jew perpetrated deception.

Jew Boy Gates

Jew Boy Gates

Dixon explained how this is the exact same type of race deception previously used by crypto-Jewish Nazi’s Himmler, Hess, Mengele, Eichmann, and Gobbles, in WW II to shape the direction of the war… through controlling most of Hitler’s decisions, as well as making ones without Hitler’s knowledge or consent, like the exterminations at the labor (concentration) camps, which were solely carried out by crypto-Jews Himmler and his crypto-Jew accomplice, Eichmann.

Himmler, Hess, Mengele and Eichmann

(Left to right) Crypto-Jews: Himmler, Hess, Mengele and Eichmann

Hidden Population Takeover

Currently, the very same deception (of Jews pretending to be Germans) is being employed by admitted eugenicist Bill Gates to quell the world’s population numbers yet again, this time through use of GMO’s and vaccines, which he abundantly funds.

History has a way of repeating itself… this is the way.

And, exactly why Bill Gates would want to deceive people into believing he is White European. The decision to further camouflage Bill Gates true identity as a Jew is based on the fact that Jews are disseminating their Jewish genetics all over the place, and thus are substantially increasing their population numbers while simultaneously dissolving all non-Jewish populations from the planet in droves, particularly European Aryans.

The startling fact is Jews are hiding their true population numbers, which are closer to 30-50% of the total White population, maybe even higher, and accelerating at exponential rates, for which Jews certainty don’t want to bring to the attention of the goyim.

Their population takeover is by very definition, the “New World Order” itself. Where by designation, Jews, derived from a Neanderthal species, will rule the world without threat from the Aryan Cro-Magnon species, who remains barely clinging to the current “world order” of things.

Portraying Bill Gates as a (White) Christian helps further the elite Jews apparent need to make Christians look smarter than they really are. A stratagem used as a psychological recruitment tool Dixon said, to try and bring more Christians into Jewish controlled mega-Churches to be brainwashed. And why Bill Gates and Microsoft attempted to buy the Catholic Church. The below ‘fake news’ story is actually true… and only turned ‘fake’ after public ridicule.

The Salina Journal (Salina, Kansas) - Dec 18, 1994

The Salina Journal (Salina, Kansas) – Dec 18, 1994

Jews might also want the public to think Bill Gates is White Christian with German and Irish blood because the majority of cops in America are of German or Irish descent … and Christian. Cops who will likely feel good about themselves believing they are genetically connected to “mastermind” Bill Gates.

Likewise, it has to help Jews control a police force on the front line of the Jewish manipulated police state if they believe they are intellectually superior to all others, including Jews who manipulate them daily, yet remain completely unaware of.

Dixon said Bill Gates was preened, groomed and ultimately situated in the best position of all other elite Jews to fool the goyim into believing he is a computer mastermind, and thus, was chosen by the elite Jews to act as their “front-man” leading the computer age, and more importantly, control of its operating system software.

Operating system software everyone in the world must have in order to communicate with, which by proxy, must be in the hands of Jews.

Established Through Wealth

Bill Gates and Microsoft didn’t create “Windows,” they simply threw Jewish money at it and purchased it for 100K from two Aryans in California, who actually did create it. This slight of hand reality is evidenced in the PBS documentary entitled Triumph Of The Nerds.

Dixon said the reason Jews need to be in control of the premier operating system software in the world is so they can spy on everyone who uses their product, keeping a dossier of their activities, to be used against them later under their plans for world domination… ensuring that all legitimate potential threats are neutralized.

Microsoft’s worldwide deceitful business practices of copyright infringement and hostile takeovers, which Microsoft is internationally known, are designed to stifle a truly free and innovative open operating system software marketplace from ever fully thriving and reaching its full evolutionary potential. An evolutionary development Jews must control, but not be accused of controlling.

The fact Bill Gates is lying to disguise his Jewishness, is in turn deflecting international criticism of his crypto-Jewish business practices directly onto English, German, Scottish and Irish innocents, races he cons the worldwide goyim into believing he is part.

Microsoft has been sued many times for hostile business practices they use to maintain their software operating system spyware supremacy, for which only elite Jews could ever get away with.

Bill Gates Testilying

Bill Gates Testi-lying

Jews Own Everything of Value

All original 1978 founders of the Microsoft Corporation are Jewish Dixon said, and elite Jews are in collusion to keep it that way, simply by buying out, hostilely taking over, or simply stealing competing software from any company that shows a potential intellectual threat to Microsoft’s dominance in the software operating system marketplace. A marketplace, according to Dixon, which in reality is run and controlled solely by elite Jews who not only control Microsoft, but Apple, Linux, and now Android as well.

Microsoft Jews

Microsoft Jews

This all Jewish Microsoft team from 1978 was brought together and organized by mega-wealthy Jews to take total control of all operating system software worldwide. Dixon said allowing non-Jews to take control of the preferred system would jeopardize the Jews millennium-long run of controlling intellectual properties, and thus the minds of the masses.

Bill Gates remains crypto-Jew because his father recognized Jews are simply in control of too many mega-corporations, banks and industries in America and abroad, and is worried that if Bill Gates true identity as a Jew were ever to be revealed, it would put over the edge the fact that Jews own everything of value in America.

Nazigate

The items laid out above are the essence of why Bill Gates is posing as White Christian European. How else does a “German” Bill Gates posing as Hitler possible help German people or himself? What German would do this? What is the real crypto-Nazi message?

What has Bill Gates ever done for English, German, Scottish or Irish people? Has he ever even visited his proclaimed homelands offering any assistance? All true English, German, Scottish and Irish people should file a class-action lawsuit against Microsoft and Bill Gates for lying about his true race to the world, we should not let him get away with this JEW-NAZI race trickery.

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Hyperinflation Experts Have It All Wrong

China will have a more significant impact on the global economy by 2025 than the United States. As Wealth Research Group published a number of times in recent months, the Asians are a mere seven years away from boasting the largest economy, based on GDP, to ever exist.

A decade after that, China will be the most intimidating militaristic power ever, having a mightier army than the U.S. ever had.

These are no small changes – they represent the equivalent to a tectonic shift at the earth’s crust, which produced our deepest oceans and highest mountains.

Millions of years ago, a giant island the size of Australia, roughly, located near today’s Madagascar, started moving north, toward today’s Russia and China, at a moderate pace of a few centimeters a year, so no one grew suspicious of these baby steps taken by the enormous island.

No one was prepared, but the colossal island, now called India, collided with Asia, forming the Himalayas.

You see, small, incremental changes go undetected until it is too late. My father ate like a king for 53 years, until his arteries couldn’t take it any longer, and he suffered a heart attack.

The snowball effect in action – it works for us or against us, as we use it. When you reinvest your dividends to buy additional shares in a well-managed business for 20 years, you end up with a wealth fortress, but if you ignore the rules of compounding and watch others, less talented and less sophisticated, making a killing, you’ll stay stuck in a rut.

There are clear rules to generating wealth, and this idea was reinforced while driving the McLaren 570S on the circuit this past Sunday, as any imprecision in braking, turning, or accelerating costs valuable seconds throughout the course of an entire lap and to professionals, it could mean the difference between world fame or mediocrity.

China, like the Indian sub-continent millions of years ago, is headed toward collision, which will impact price levels around the world, but the analysts are focused solely on USD inflation.

This is a huge mistake, since the Chinese will be much more influential, going forward, on how much commodities cost and how inflationary the next decade will be. But most are either completely ignoring the real cause for the coming inflationary crisis or are utterly ignorant of it – I want you to understand it and have no delusions regarding it.

China implemented a one-child-policy, which was meant to curb their national population explosion. Back then, China was based on agriculture, mostly, so families had children to help in the rice fields, but as the transition to manufacturing increased, the need for child labor became less meaningful.

Now, though, the one-child-policy is biting them in the ass.

Their elderly population is growing rapidly, while their demographics of 20 to 65-year-olds are shrinking.

More adults, fewer workers are exactly the formula, which was present in the U.S. between 2000 and 2011, and gold raged higher for 11 consecutive years.

Fewer workers equal less manufactured goods, so prices rise.

The inflationary pressures that the U.S. will experience in the coming years, due to giant deficits and de-dollarization, which will cause foreign creditors to send dollars back to the origin (the U.S. banking system) is nothing compared with China’s upcoming ones.

Gold is now held hostage to many misconceptions, such as, that a growing global economy and higher interest rates are bad for gold prices, but the Reagan years and the Bush years both proved that this is nonsense – both gold and mining shares can perform well in boom times.

China is the key to the gold breakout, just as it is the essential component for continued success for U.S. corporations selling products around the world – global commerce is a delicate ecosystem, and the more it becomes complex, the more commodities will go through even more volatile booms and busts.

For nearly 30 years, commodities have gone nowhere – this is a time when fortunes are made by sitting tight, monitoring, and being extra-selective.

Inflationary pressures from China are the next drum to beat in the precious metals symphony.

Best Regards,

Lior Gantz
President, WealthResearchGroup.com

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Many people seem to believe that the debt imbalances that existed prior to the economic collapse and stock market crash of 2008 have been solved, but that is not the case at all. We are living in the terminal phase of the greatest debt bubble in history and a financial collapse is imminent.

Image result for economic collapse

Each passing day that mountain of debt just keeps on getting bigger and bigger… Top economists predict that within the next 12-18 months, the imminent economic collapse will hit the United States.

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“Italy Is Collapsing…And 5 Star Is Our Last Hope”: How Young Italians Fueled A Populist Uprising

Unlike in the US, where President Trump relies on older Americans for his base of support, more than half (53%) of Italians under 35 voted for one of the two anti-establishment parties that triumphed in Italy’s March election. Their enthusiastic support explains the outpouring of anger directed at technocratic Italian President Sergio Mattarella, who called for new elections as he seemingly reached for every conceivable excuse to try and stop the two parties from forming a government, before finally acquiescing.

Young Italians have grown disillusioned with the center-left – which has clung to a status quo that deliberately favors older workers – even as their counterparts in Greece and Spain have moved even further to the left, with 40% of Spaniards under 35 saying in a recent poll that they favor the far-left Podemos and its allies, while in Greece, 41% of people aged 18 to 24 voted for Syriza in the 2015 election that brought the far-left party to power, according to the Wall Street Journal, which recently published a long-winded feature about the political plight of restive Italian youth.

Italy

Giada Gramanzini, a 29-year-old Italian university graduate who has struggled to find permanent work

Young Italians, like young people in much of the Western developed nations that comprise the EU, are convinced that they will lead lives fraught with economic turbulence, and that few in their generation will manage to achieve the same standard of living that their parents enjoyed. The marriage rate in Italy has fallen by a fifth over the past decade, according to Istat. In 2016, the last year for which data are available, Italian men got married on average at age 35 and women at 32 – two years later than in 2008. Meanwhile, the birth rate in a country that’s viewed as the cradle of conserative Catholicism has fallen to an all-time low.

Chart

Of the many statistics that point to an intractable economic malaise, the youth unemployment rate is particularly troubling: Nearly 30% of Italians aged 20 to 34 aren’t working, studying or enrolled in a training program, according to Eurostat. This comes after the employment rate for Italians under 40 fell every year between 2007 and 2014, before flatlining for three years. That’s higher than any other EU member state – including Greece, which is sporting youth unemployment of 29% – the second highest – as well as Spain’s 21%.

“Italy is collapsing and yet nothing has changed in this country for at least 30 years,” said Carlo Gaetani, a self-employed engineer in Puglia. Ten years ago, when he was in his early 20s, he voted for a center-left party that he hoped would push for economic development in southern Italy. When Italy descended into a crippling recession, he felt betrayed by the traditional Italian left-wing parties. He has seen friends struggle to find jobs, and said his own business opportunities are limited to the stagnant private sector, because commissions for the public sector are usually awarded to people with connections he doesn’t have.

Mr. Gaetani, now 33, voted for 5 Star in the 2013 election, a choice he repeated in March with more conviction. “5 Star is our last hope. If they also fail, I think I’ll stop voting,” he said.

Luckily, the older generation is well-equipped to step in and provide a modicum of financial support, thanks to generous pension benefits that have accrued to older workers. Yet this has done little to assuage the anger of young Italians, as the number of Italians under 34 living in dire poverty (aka those who can’t afford even basic goods and services) has more than doubled in the aftermath of the crisis.

The pain in southern Europe reflects a feeling across much of the Western world that the younger generation will struggle to surpass their parents in wealth and security. Half of Italians who responded last year to an online survey on jobs site Monster.com said they thought they will earn less over their careers than their parents.

Young Italians, who bore the brunt of the country’s protracted, triple-dip recession, still bear the scars that will affect their career prospects, homeownership and birthrates for decades to come.

While they share many similar characteristics, the problems in Italy are fundamentally different than in the US. Perhaps the biggest issue for young people is a labor system where people with open-ended employment contracts enjoy unassailable job security and access to benefits. Meanwhile, younger employees are getting stuck with short-term contracts generally lasting from one month to one year that carry few benefits and make it impossible to plan for the future.

Short

The Italian government introduced these short-term contracts in the 1990s to help young people enter the labor force. Italy recently adopted a revamp of its labor laws, using tax breaks to coax companies into using more open-ended contracts – which allow firms to avoid the great hassle and cost involved in firing employees. But these policies generally haven’t worked, and both the Five Star Movement and the League have capitalized on the anger at existing labor policies by promising to undo the government’s reforms, while Five Star has also advocated giving the poor and unemployed a UBI of 780 euros (roughly $900) a month.

The 5 Star Movement has lured millions of young voters with promises to roll back new labor rules, give the unemployed and poor a so-called universal basic income of €780 ($905) a month, and abolish unpaid apprenticeship contracts. Its leader, Luigi Di Maio, was a 26-year-old university dropout who lived with his parents when he was elected to parliament in 2013. Today, he is a deputy prime minister.

The League attracted a sizable portion of the youth vote by advocating for many of the same anti-establishment policies that Five Star embraced – such as canceling the country’s recent labor reforms – while also calling for deportations of African migrants who have overwhelmed Italy’s borders in recent years.

Italy’s economic problems played into young voters’ sentiments about immigration during the campaign as well, one of the animating drivers of support for the League. “We can’t host all of Africa,” said Gianluca Taburchi, a 23-year old supermarket employee from Perugia who voted for the League. “We already have our own problems. We have lots of unemployment and unsecure jobs.”

Matteo Salvini, the leader of the League who became a deputy prime minister and interior minister in the new government, promised to return hundreds of thousands of migrants to their countries of origin. 5 Star, which straddles the line on many issues, spoke of stemming illegal immigration, but stopped short of calling for mass deportations.

Now that they’ve found their way into power, the future of these euroskeptic parties will depend on whether they keep their promises. Instituting labor-market, welfare and immigration reforms is only one part of the problem. Many younger Italians are deeply distrustful of both the European Union and the euro currency – while many older Italians still view both projects as integral to maintaining a sense of European Unity and lasting peace on the continent.

Conte

Italian Prime Minister Giuseppe Conte, flanked by Five Star Leader Luigi Di Maio and The League leader Matteo Salvini

Both The League and Five Star’s controversial flirtations with abolishing the euro (League leader Matteo Salvini was reportedly photographed wearing a T-shirt reading “Basta euro” – or “enough with the euro – to the chagrin of many older voters) have been popular with their base. But when directly confronted about their stance on leaving the euro, they’ve been noncommittal. The question now is: Will the Five Star and the League allow voters a chance to speak on the possibility of an “Italexit”, as the analysts on Wall Street have taken to calling an Italian departure from the European Union? Or will they stop short of threatening an orthodoxy that a growing number of Italian young people view as the root cause for their economic suffering?

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Former Central Banker: Oil Pipeline Protesters Will Be Killed. So Be It.

As Canada’s controversial Trans Mountain pipeline expansion project faces ongoing opposition, the former governor of the Bank of Canada said that protesters may die but that the government should push the project through anyway.

Speaking at an event Wednesday, David Dodge said, “We’re going to have some very unpleasant circumstances,” the Edmonton Journal reported. “There are some people that are going to die in protesting construction of this pipeline. We have to understand that.”

“Nevertheless, we have to be willing to enforce the law once it’s there,” Dodge said. “It’s going to take some fortitude to stand up.”

In an interview with the Journal, he elaborated by saying, “We have seen it other places, that equivalent of religious zeal leading to flouting of the law in a way that could lead to death.”

Dodge’s comments prompted outrage from climate activists.

Author and 350-org co-founder Bill McKibben warned, “North American governments have shown the ‘fortitude’ necessary to kill indigenous people often enough that this is no idle threat,” while Canadian author Naomi Klein called the threat a “disgrace.” She added, “If the worst happens, we now know they went into this with their eyes wide open.”

Greenpeace climate and energy campaigner Mike Hudema, meanwhile, wondered if Canadian Prime Minister Justin Trudeau would weigh in on Dodge’s remarks.

Trudeau was the target of sharp criticism from environmental advocacy groups after announcing last month that the government would purchase the pipeline and expansion system, which will roughly triple the system’s capacity. That $4.5 billion buyout, commented the B.C.-based Dogwood Initiative, makes every taxpayer “partial owner of a leaky 65-year-old pipeline—and the proponent of a still uncounted oil tanker expansion project.”

Dodge, for his part, has been described as “not inclined to hold his tongue.”

His comments about the pipeline protesters come days after he accused climate activists of making it harder to enact policies to reduce greenhouse gas emissions and said Canada should “sell our hydrocarbons, which we produce, to foreigners at the highest possible market price…including the sale of bitumen from the oil sands, while demand for oil is robust and still growing.”

By Andrea Germanos / Creative Commons / Common Dreams / Report a typo

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