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Sunday, May 12, 2024

Manifesto tying Columbia’s pro-terror protests to communism found on campus

 A hate-fueled revolutionary manifesto that links Columbia University’s pro-terror protests to heralded “anti-colonial” movements is circulating at the school, bolstering claims of outside agitators there.

The six-page “National Liberation Struggles’’ proclamation was found left behind in a lab class at the embattled Ivy League institution, according to a Jewish student who received a copy of the missive.

A “National Liberation Struggles” manifesto has been circulated among students at Columbia University.Obtained by the NY Post

“This manifesto associating Jews with all the world’s ills would be an amusing parody if it weren’t fueling the deadly aim of destroying the Jewish state and returning Jews everywhere to a dispossessed, defenseless people available for abuse and scapegoating as the mood arises,” said Rory Lancman, senior counsel at the Brandeis Center For Human Rights Under Law, a Columbia Law School grad and a former New York City councilman.

The document strengthens claims by New York City Mayor Eric Adams and others that outside “agitators” have influenced and even infiltrated groups of pro-terror protesters at the Upper Manhattan school and other college campuses.

An anti-Israel mob launched an illegal takeover of an academic building at Columbia earlier this month, forcing cops in riot gear to storm the site to roust and arrest them.

“The students of Columbia are organizing their power to demand the university divest from all companies profiting off the Israel occupation of Palestine, to end all academic affiliations with Israel, and to end Columbia’s complicity with the Zionist project,” the manifesto starts out.

The document links the school’s anti-Israel protests to other “anti-colonial” movements from around the world.Matthew McDermott
Protesters at Columbia occupied the school’s Hamilton Hall on April 29, 2024.Photo by Alex Kent/Getty Images

The missive emphasizes the goal to expand students’ minds “beyond the university” and join “the larger struggle for the liberation of all the oppressed people everywhere.

“How is the student movement engaged in the larger anti-imperialist and internationalist movement in the U.S. and the world” the document says.

The communist manifesto only inflames antisemitism, Lancman said.

Anti-Israel protesters hanging a banner from Hamilton Hall.J.C. Rice

“The anti-Israel protests at Columbia and elsewhere are part of the global antisemitism movement, not merely ideologically but logistically and operationally,” he told The Post.

The US and Israel and “The West” are painted as oppressors in the manifesto, while rights-restrictive Cuba and Vietnam are revolutionary models to emulate.

Hard-line, freedom-denying China and North Korea get a pass.

Mayor Adams and other have claimed that outside agitators have influence the protests at Columbia and other colleges in the city.James Keivom

Liberation struggles also are touted for blacks in the US and the downtrodden in Latin America and the Caribbean, Africa and Asia.

Russia’s invasion of Ukraine and the oppressed Ukranians’ quest for freedom doesn’t make the “liberation” cut in the pamphlet.

“The people of Palestine, the students on this campus, and oppressed people everywhere teaches us that we can fight for another way of life, to struggle for a new world to be born,” the document says.

The US even gets blamed for the COVID-19 outbreak.

“The neglect of the COVID-19 pandemic, the death of George Floyd and rising anti-Black violence, and the unconditional support for Israel’s genocide in Gaza shows us that, at every turn, at every crisis, the U.S. and other western countries will alway put their interests first,’’ the document says.

There’s an odd reference to North Korea, considered the harshest communist regime in the world.

“We can see that the workers and students in the U.S. have more in common with the people of Palestine, Sudan, Korea and India than with the elite of Washington, New York, London and Tel Aviv,” the document says.

The manifesto applauds the spread of communism in Vietnam and Cuba — backed at the time by China and the former Soviet Union — while excoriating the US.

New York State Republican Party Chairman Ed Cox said the manifesto is proof that the communists and the anti-American hard left are organizing and exploiting the anti-Israel campus protests.

The manifesto’s stated goal is for students to join join “the larger struggle for the liberation of all the oppressed people everywhere.”James Keivom
“These are the Marxist-Leninists who are the agitators stoking the fires at Columbia and other campuses. I’m not surprised. They’ve done this throughout history,” Cox said.

“They can have an impact on gullible students,” he said. “They are not American. They are anti-American.”

A Columbia University rep declined comment.

https://nypost.com/2024/05/12/us-news/revolutionary-manifesto-tying-columbia-pro-terror-protests-to-communism-is-found-on-campus/

'How to hedge against stagflation'

 Barclays says stock investors are traversing through shifting macroeconomic narratives and offered ideas on hedging against stagflation risks, as the “unlikely combo” of waning demand and sticky inflation is the worst setup for equities.  

In the U.S. market, Barclays suggests buying protective puts for the materials sector and single-stock puts within the materials, staples and industrials sectors, led by Kimberly-Clark (KMB), aluminum can manufacturer Ball Corp. (BALL), and Proctor & Gamble (PG). 

The macro narratives sway between a good “Goldilocks” economy, overheated conditions, and “ugly” stagflationary winds. While the latter scenario seems the least likely, it is the most harmful for stocks, Stefano Pascale, equity derivatives strategist, said in a research note this week. 

“In a stagflationary environment, the primary headwind would come from margin pressure driven by negative operating leverage,” Pascale said. 

Barclays recommends going long Materials Select Sector SPDR Fund (NYSEARCA:XLB) puts partly funded by SPDR S&P 500 ETF Trust (SPY) puts. 

“Materials (XLB) is particularly exposed to waning pricing power with sales running ~20% above pre-pandemic trends,” Pascale said. “Given XLB vol is historically depressed vs SPY, we favor selling SPY Jun24 500 puts (ref. 516.57, 22-delta) and buying XLB Jun24 90 puts (ref. 90.07, 45-delta) for 1.5%.” 

At the single-stock level, (KMB), (BALL), and (PG) topped Barclays' long-put screen of “high-flying names with cheap vol” that stand to lose the most in a stagflationary environment. 

ETFs centered on the materials sector: 

  • Vanguard Materials Index Fund ETF Shares (VAW)
  • Vanguard Materials Index Fund ETF Shares (RSPM)
  • iShares U.S. Basic Materials ETF (IYM)
  • Fidelity MSCI Materials Index ETF(FMAT)
  • First Trust Materials AlphaDEX Fund ETF (FXZ)

Biden’s Re-Election Chances Damped by Inflation Fears: FT Poll

 

  • FT’s survey shows 80% of voters are challenged by high prices
  • Voters aren’t giving president credit for economy, jobs market

US President Joe Biden’s prospects for re-election in November are being depressed by persistent voter concerns over inflation, according to a new poll for the Financial Times.

High prices are one of the biggest financial challenges for 80% of voters, according to the latest FT-Michigan Ross poll released Sunday. Voters are growing less supportive, with 58% disapproving of his handling of the economy compared with 55% the prior month.

https://www.bloomberg.com/news/articles/2024-05-12/biden-s-re-election-chances-damped-by-inflation-fears-poll-says

CFTC Aims To Ban Derivatives Based On Elections, Athletic Competitions And Awards Contests

 Previously enjoyed betting on the outcome of an event, like a Presidential election? The CFTC wants to make sure that doesn't happen again.

According to the Wall Street Journal, the regulator is now targeting "derivatives contracts based on political elections, athletic competitions and awards contests" to try and draw more prominent lines between investing and gambling. 

The Commodity Futures Trading Commission proposed a regulation to oversee event contracts, a rapidly growing market where investors bet on event outcomes, the report said. 

The proposed regulation won’t affect sports betting through traditional sportsbooks regulated by state commissions or popular online platforms like DraftKings. Nor will it impact offshore platforms like Betfair, which currently allows U.S. election bets.

The proposal, approved 3-2 along party lines, will undergo public review before a final vote in the coming months. Democratic commissioners emphasized the potential threat to election integrity posed by political event contracts, particularly with a Biden-Trump rematch looming.

Christy Goldsmith Romero, a Democratic commissioner, said: “Never before has the sanctity of elections been so critical or so under threat. The CFTC should not allow products in our markets with an unacceptable risk of unchecked abuse and manipulation that could threaten the sanctity of elections, thereby threatening democracy and national security.”

Yet the proposal was called “grossly overbroad” by Summer Mersinger, a Republican commissioner, the report noted. 

One company that offers "yes" or "no" betting questions has been Kalshi. Event contracts, though small compared to stocks or futures, have grown rapidly since Kalshi launched in 2021. Recent Kalshi contracts included wagers on whether "Oppenheimer" would win Best Picture and if Columbia University's president would be ousted. 

CFTC Chair Rostin Behnam, a Democrat supporting the proposal, noted that more event contracts were listed in 2021 than in the previous 15 years combined. 

The CFTC has previously blocked U.S. trading platforms from launching political betting markets. Last year, it prevented Kalshi from offering contracts based on which party controls Congress, prompting Kalshi to sue the agency in November over the rejection.

“We look forward to continuing to engage with our regulators and Congress, as we have always done, to ensure that our customers can participate in legitimate trading with legitimate use cases on a legitimate, regulated exchange and not on offshore and illegal markets where there is no customer protection or market integrity,”  Mansour told WSJ. 

CFTC regulations established after the 2010 Dodd-Frank Act prohibit event contracts involving terrorism, assassination, war, gaming, or illegal activities, but the lack of a clear definition of “gaming” led to disputes over whether it applies to sports and political contracts, prompting Friday's proposal to explicitly ban wagers on elections, sports, or awards contests.

https://www.zerohedge.com/markets/cftc-aims-ban-derivatives-based-elections-athletic-competitions-and-awards-contests

Before global scrutiny, Indian spice maker MDH faced many US rejections

 Popular Indian spice brand MDH, under scrutiny for alleged contamination in some products, has since 2021 seen an average 14.5% of its U.S. shipments rejected due to the presence of bacteria, a Reuters analysis of U.S. regulatory data found.

Hong Kong suspended sales last month of three spice blends made by MDH and one by another Indian company, Everest, for apparently containing high levels of a cancer-causing pesticide. Ethylene oxide is unfit for human consumption and a cancer risk with long exposure.

The companies have said their products are safe and MDH added it does not use ethylene oxide at any stage of storing, processing, or packing of spices. Authorities in the United States, Australia and India are looking into the matter. Both brands are popular in India and are exported around the world.

India is the world's biggest spice producer and is also the largest consumer and exporter of spices. Zion Market Research estimates India's domestic market was worth $10.44 billion in 2022, and the Spices Board said India exported products worth $4 billion during 2022-23.

Before the latest scrutiny, products from MDH, a family-run Indian company more than 100 years old, were rejected for sale in the United States due to the presence of salmonella, a bacteria that can lead to gastrointestinal illness.

Around 20%, or 13 of MDH's 65 shipments to the United States were rejected after it failed checks for salmonella between October 2023 - when the current fiscal year started - and May 3, according to the latest available data compiled by Reuters from the U.S. Food and Drug Administration (FDA).

The FDA did not state what quantity was contained in each shipment but the 13 shipments rejected included mixed spices and seasonings, as well as fenugreek, according to the data.

In fiscal 2022-23, about 15% of 119 MDH shipments were rejected mostly for salmonella contamination, while the rejections stood at 8.19% during 2021-22, the data showed.


Seattle Could Shutter 20 Elementary Schools Due To Budget Constraints

 When happens when your city pisses away all of your tax revenue on trying to feed, shelter and coddle activists and homeless people? You wind up having to make budget cuts. And, in Seattle, those cuts could be coming in the form of closing up to 20 elementary schools. 

The district’s budget deficit has reached more than $100 million, according to new reporting from MYNorthwest

And Superintendent Brent Jones' proposal for 'Well-Resourced Schools' might lead to the shutdown of over a quarter of the district's 73 elementary schools, the report says. 

According to the Seattle Public Schools, 29 of these schools have fewer than 300 students each, and are considered under-enrolled. The district warns that keeping these schools open may necessitate cuts or the elimination of preschool programs, a reduction in core staff, larger class sizes, and fewer curriculum offerings.

The plan has been met with considerable opposition from both parents and teachers, who expressed their concerns at Wednesday's meeting.

Ben Gitenstein, a parent of a student in the SPS district commented: “It’s not 20 schools, it’s 20 communities. All the kids who thought they knew who their next year’s teacher would be. All the local mom-and-pop stores that sell ice cream to the kids after school, they’re all going to be seriously impacted."

He continued: “Closing neighborhood schools is really bad for neighborhoods and it’s really bad for all of us because, at the end of the day, the real problem here is enrollment."

Superintendent Brent Jones commented: “We’re trying to make sure we’re focused on the students’ experience and not just a building.”

The report concluded stating that, at the meeting, Jones reflected on his own experiences as a student within SPS, noting that he attended four different elementary schools. He described each transition as a positive experience.

School closures, under his plan, would not take place until the 2025-2026 school year at the earliest. He is scheduled to present an initial recommendation at a school board meeting on June 10.

Good luck with that.

https://www.zerohedge.com/markets/seattle-could-shutter-20-elementary-schools-due-budget-constraints