Monday, August 05, 2024

Inside a Palestinian refugee camp in Lebanon where Hamas is gaining popularity amid war

Aug 5, 2024 
PBS/NPR
By —Simona Foltyn
By — Hadi Raghda

Audio


The killing of a top Hamas leader shook a Middle East already ten months into a brutal war. It has also galvanized Palestinian populations beyond Gaza and the West Bank, especially in Lebanon, long home to both political and armed groups and hundreds of thousands of Palestinian refugees. Special correspondent Simona Foltyn gained rare access to Hamas operations there and reports.
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Notice: Transcripts are machine and human generated and lightly edited for accuracy. They may contain errors.

Amna Nawaz:

The killing of a top Hamas leader last week shook a Middle East already scarred by a war that the militant group launched last October 7. The past 10 bloody months have also galvanized Palestinian populations beyond Gaza and the West Bank, especially in Lebanon. Factions of Hamas have also made it home.

And special correspondent Simona Foltyn recently gained rare access to its operations there for this report.


Simona Foltyn:

A show of defiance in the Lebanese city of Sour after Israel's killing in Tehran of Hamas chief Ismail Haniyeh.


Rafat Morra, Hamas Official (through interpreter):

The resistance remains strong and will continue. This resistance will continue until the removal of this Israeli occupation and the complete defeat of the occupation from the entire Palestinian national territory.


Simona Foltyn:

Rallies in support of Hamas have been taking place throughout Southern Lebanon since the assassination of Ismail Haniyeh. The message is that his demise will not weaken Hamas, nor will it lessen its struggle for Palestinian liberation, a liberation these men and women have awaited for decades.

They are refugees, descendants of Palestinians expelled in 1948, when Israel was created. Rayyan is 22 years old. She never set foot on Palestinian land, but is no less attached to the cause.


Rayyan Hafiyan, Palestinian Refugee (through interpreter):

Since our childhood, Haniyeh has influenced us a lot. All our leaders, not just Haniyeh, have taught us that we should hold on to the resistance, no matter what the enemy does.


Simona Foltyn:

Hamas' October 7 attack on Southern Israel was denounced as terrorism by the United States and other Western nations. But, here, it sparked a different sentiment, something Palestinians hadn't felt in decades, hope.


Rayyan Hafiyan (through interpreter):

From when I was little, we have had the hope of returning and living in our homeland. And, God willing, this day will come.


Simona Foltyn:

I want to know if this is a broader trend among the Palestinian diaspora in Lebanon and travel to Saida, home to the largest Palestinian refugee camp. Past the checkpoint of the Lebanese army, it feels as if we've crossed into another country.

The camp is called Ain al-Helweh. Around 120,000 people live here in perpetual exile, crammed into less than half-a-square-mile, a pressure cooker with poor services, few jobs, and no prospects.

Now that frustration has found an outlet. I'm meeting a Hamas fighter who requested anonymity because he spoke outside the chain of command.

Do you think that, since October 7, there is greater support for armed resistance?


Hamas fighter (through interpreter):

Yes. Of course there was support before, but not as much as we are seeing now. There was a general mobilization a month after the events of October 7. Pretty much all the youth in this camp signed up to join Hamas.


Simona Foltyn:

Rising support for the resistance is visible in plain sight. The camp is run by Fatah, which was co-founded by Yasser Arafat and has led the Palestinian Authority since its creation.

But Hamas has been gaining ground here, chipping away at Fatah's status as the guardian of the Palestinian cause, its green colors gradually usurping Fatah's yellow. The green flag of Hamas and other symbols like these posters of its military spokesperson Abu Obaida, have spread throughout the camp since October 7, signaling growing support for armed resistance, even in areas that were not traditionally dominated by Hamas.

Fatah has been losing legitimacy for years now amid accusations of rampant corruption and its failure to achieve Palestinian statehood in the wake of the 1993 Oslo Accords, as part of which it renounced violence in return for recognition and the nominal authority to govern.

But some within Fatah never laid down arms, like Munir Maqdah, the most senior Fatah military official in the camp.


Munir Maqdah, Fatah Military Commander (through interpreter):

We participate in daily military action inside the West Bank in the face of Israeli occupation.


Simona Foltyn:

Maqdah is a leader in the Al-Aqsa Martyrs Brigades, a branch of Fatah founded during the second Palestinian uprising of the early 2000s. He points to Israel's continued occupation and settlement of Palestinian land in the West Bank as evidence that the Oslo Accords have failed.


Munir Maqdah (through interpreter):

Negotiations have been tried for 30 years and will not give the Palestinian people anything. The Palestinian people have no choice but to take their rights by force and blood. Today, it's blood for blood until we get rid of this occupation in the land of Palestine.


Simona Foltyn:

Words that are finding fertile ground among disenfranchised Palestinian youth. But mobilization inside the camp is a delicate matter. It risks drawing Israeli airstrikes and alienating the Lebanese government, which sees it as a violation of its sovereignty.

To get a glimpse into the secretive recruitment process, I visit a mosque in a neighborhood that is a Hamas stronghold. Hassan Shanaa, a local Hamas official, tells me that hundreds of young men have approached him since October ready to take up arms against Israel, what they call the Zionist entity.


Hassan Shanaa, Hamas Official (through interpreter):

There is a large number of young people who want to join the movement to fight, not to enter the movement and go through the recruitment process. No, they wanted us to give them weapons and go to Palestine through Southern Lebanon, so they can fight the Zionist entity.


Simona Foltyn:

The selection process can span years, with new recruits vetted at multiple stages. Religious instruction is at the very core of joining Hamas, which, unlike the more secular Fatah, is an Islamist movement.


Hassan Shanaa (through interpreter):

First of all, he has to be committed and pray and take lessons with us. If his foundations and goals are where they should be, he will go out to the second stage and maybe take a special lesson.


Simona Foltyn:

The next stage is military training, which is where it gets more complicated. Hamas doesn't enjoy Fatah's status as the security provider in the camps, and isn't officially allowed to maintain an armed presence inside Lebanon.

But I met one new joiner who took part in covert training exercises, which take place in coordination with Hamas ally Lebanese paramilitary group Hezbollah.


Hamas recruit (through interpreter):

They teach us about weapons, how to take them apart and put them together, about bombs, these kinds of things.


Simona Foltyn:

And this training is inside the camp or outside?


Hamas recruit (through interpreter):

No, we go out and come back. I went out two, three times and came back.


Simona Foltyn:

Have a lot of your friends joined Hamas?


Hamas recruit (through interpreter):

There are many, a lot. All were encouraged after October 7.


Simona Foltyn:

Hamas is trying to capitalize on the youth's newfound zeal to obtain with force what hasn't been achieved with words. For Hassan Shanaa, the death and destruction in Gaza are a price worth paying.


Hassan Shanaa (through interpreter):

The Zionist entity and the American administration were betting that adults here would die and children would forget. We say to the whole world, despite the tragedy, the massacres, the killing and the destruction, there's no alternative homeland to Palestine except Palestine.


Simona Foltyn:

Haniyeh's assassination has for now dashed hopes for a cease-fire. Many here see armed struggle as the only way forward.

For the "PBS News Hour," I'm Simona Foltyn in Ain al-Helweh, Lebanon.
Killing of Hamas leader intended to prolong Gaza conflict, Abbas tells RIA news agency

 Palestinian President Mahmoud Abbas attends the World Economic 
Forum (WEF) in Riyadh, Saudi Arabia, April 28, 2024.
 REUTERS/Hamad I Mohammed/File Photo

Updated
Aug 06, 2024


The killing of Hamas leader Ismail Haniyeh was intended to prolong the conflict in Gaza and will complicate talks on resolving the crisis, Palestinian President Mahmoud Abbas told Russia's RIA state news agency in remarks published on Tuesday.

"There is no doubt that the purpose of Mr. Haniyeh's assassination is to prolong the war and expand its scope," RIA cited Abbas as saying.

"It will have a negative impact on the ongoing negotiations to end the aggression and withdraw Israeli troops from Gaza."

Haniyeh was assassinated in the Iranian capital Tehran last week, an attack that drew threats of revenge on Israel and fuelled concern that the conflict in Gaza was turning into a wider Middle East war.

"We consider this a cowardly act and a dangerous development in Israeli politics," Abbas said in remarks published in Russian by the RIA agency.

"The Israeli occupation authorities are required to abandon their ambitions and stop their aggressive actions against our people and our cause, to comply with international law and implement the Arab Peace Initiative, as well as an immediate and lasting ceasefire and withdrawal from the Gaza Strip." REUTERS
PREEMPTIVE IS NOT DEFENSIVE

IDF presents preemptive strike plan on Iran, Hezbollah to senior leaders - report

Senior IDF officers have suggested to Gallant and Netanyahu not to wait for an attack from Hezbollah but to initiate another preemptive Israeli strike.


By MAARIV
AUGUST 6, 2024 
JERUSALEM POST
An Israeli firefighter works to put out a fire in Kiryat Shmona, amid cross-border hostilities between Hezbollah and Israeli forces, in northern Israel July 29, 2024.(photo credit: REUTERS/AMMAR AWAD)

Amid escalating tensions, senior IDF officers have proposed to the Defense Minister and the Prime Minister to preempt Hezbollah and strike Lebanon. "The chances of escalation on the northern front are increasing. It would be prudent to lead the initiative," according to a Channel 13 report.

In light of the tense anticipation of Iran and Hezbollah's response following the assassination of Ismail Haniyeh in Tehran, and Fuad Shukr in Lebanon, senior IDF officers have suggested to Defense Minister Yoav Gallant and Prime Minister Benjamin Netanyahu not to wait for an attack from Hezbollah but to initiate another preemptive Israeli strike, as reported on Channel 13 on Monday evening.

According to the publication, senior IDF officials recently proposed to the political echelon to launch another attack against Hezbollah in Lebanon before a response from the Shia terror group arrives. According to these senior officials, "We must undermine the enemy's perception that we are waiting for their move." They also added, "The chances of escalation on the northern front are increasing regardless. It would be wise to be the ones leading this initiative."

Possible plans for pre-emptive strike presented to top brass

The report states that the proposal was presented yesterday in several discussions with senior political officials. Although the proposal was considered and evaluated, it has not yet been accepted by the political echelon. The Prime Minister's Office has not commented, and the IDF spokesperson stated that they do not comment on classified discussions.

Last week, the IDF assassinated Nasrallah's right-hand man, Fuad Shukr, in Beirut in response to the disaster in Majdal Shams, where 12 children were killed by a direct hit from a Hezbollah rocket on a soccer field.
Members of Hezbollah carry the coffin of Fuad Shukr, a senior Hezbollah commander who was killed by an Israeli strike on Tuesday, during his funeral in Beirut's southern suburbs, Lebanon August 1, 2024. 
(credit: REUTERS/Alkis Konstantinidis TPX IMAGES OF THE DAY)

Hezbollah confirmed Shukr's death about a day after the attack. The following day, Hezbollah Secretary-General Hassan Nasrallah gave a speech. In his speech, Nasrallah stated that the war "has entered a new and open phase" on all fronts, including Gaza, southern Lebanon, Yemen, Iraq, and Iran.

He added, "Hezbollah's red line continues to rise with each assassination it encounters," and claimed, "We are in a new phase of confrontation. The Israelis rejoiced - now they will cry."
Israeli rights group describes local prisons as 'network of torture camps'

B'Tselem publishes report exposing conditions and ill treatment that Palestinian detainees are subject to


Ahmed Asmar |06.08.2024 -




ANKARA

An Israeli rights group on Monday described the country’s prisons as a "network of torture camps," confirming a systematic policy of torture and degrading treatment of Palestinian detainees in Israeli jails.

B'Tselem said it gathered testimonies from 55 Palestinian detainees in Israeli prisons for its report, confirming the ill treatment they received during their detention.

"The testimonies clearly indicate a systematic, institutional policy focused on the continual abuse and torture of all Palestinian prisoners held by Israel," it said.

"Over the years, Israel has incarcerated hundreds of thousands of Palestinians in its prisons, which have always served, above all, as a tool for oppressing and controlling the Palestinian population," B'Tselem said.

The rights group counted several forms of acts by Israeli prison wardens including "arbitrary violence, sexual assault, humiliation and degradation, deliberate starvation, sleep deprivation...and the denial of adequate medical treatment."

"These descriptions appear time and again in the testimonies (of Palestinians) in horrifying detail and with chilling similarities," it added.

It stressed that the testimonies it gathered from Palestinian detainees in various prison facilities make "no room to doubt an organized, declared policy of the Israeli prison authorities."

One Palestinian detainee told B'Tselem that “two guards came and took me to a cell the size of 1.5 square meters with no toilet. I was in that cell for more than three months...The light was on 24\7.”

While some prisoners were locked in their cells throughout the entire day, "others were allowed out for an hour once every few days in order to shower. Some never saw daylight during their time in prison," B'Tselem added.

Confirming the severity of Israel’s inhumane treatment of Palestinian detainees, it noted that this can be seen "in the number of Palestinian prisoners who have died in Israeli custody -- no less than 60."

The report concluded by urging the international community "to do everything in their power to put an immediate end to the cruelties meted out on Palestinians by Israel's prison system."

Sounds Like There Were More Harlan Crow Flights

This is your TPM evening briefing.

TPM Illustration/Getty Images/Wikipedia

By Nicole Lafond
August 5, 2024 

As part of his committee’s investigation into the friendly relationship between conservative megadonor Harlan Crow and Supreme Court Justice Clarence Thomas, Senate Finance Committee Chair Ron Wyden (D-OR) revealed in a letter on Monday yet another unreported instance of luxury travel that, it appears, Crow gifted Thomas.

Writing to Crow’s attorney, Wyden said that his panel’s review of Customs and Border Protection records showed that Thomas and his wife Ginni Thomas — a conservative activist whose own work has raised questions about the Supreme Court justice’s impartiality, specifically on cases related to Jan. 6 — took a round trip flight on Crow’s private jet between Hawaii and New Zealand in 2010.

The travel was never disclosed on any financial disclosure forms, “even though Justice Thomas has amended disclosures to reflect other international travel on Mr. Crow’s private jet,” Wyden wrote in the letter, in which he requested that Crow’s attorneys actually comply with his requests for additional information about the financial relationship between the two men.

“I am deeply concerned that Mr. Crow may have been showering a public official with extravagant gifts, then writing off those gifts to lower his tax bill,” Wyden wrote.

While Thomas has not yet publicly commented on the new details Wyden surfaced in the letter, it is, of course, just one of many revelations made public either by congressional investigators or journalists over the last dozen-some months as Thomas’ penchant for accepting and not disclosing gifts from the right-wing donor propels calls for Supreme Court ethics reform. Wyden’s investigation is just one of many attempts in recent weeks and months from Democrats to push for more oversight of those sitting on the high court.

Rep. Alexandria Ocasio Cortez (D-NY) last month introduced articles of impeachment against Justices Thomas and Samuel Alito for not disclosing travel paid for by benefactors and for not recusing themselves from cases related to Donald Trump’s efforts to overturn the election, despite clear and present conflicts of interest. Just last week, President Biden also proposed term limits for Supreme Court justices, as well as other reforms.

In his letter, Wyden asked Crow’s attorneys to comply with his requests so that the panel could “better understand the means and scale of Mr. Crow’s undisclosed largess to Justice Thomas” as it works to write legislation to prevent such behavior moving forward.

Read the letter here.



Supreme Court justice didn't disclose travel, says senator

Christal Hayes
BBC News, Los Angeles
Reuters


Supreme Court Justice Clarence Thomas has been accused by a top Democratic senator of failing to disclose two flights on a private jet owned by a billionaire Republican donor.

Ron Wyden, chairman of the Senate Finance Committee, said that Justice Thomas did not declare a roundtrip from Hawaii to New Zealand with his wife on Harlan Crow's private jet in 2010.

He used a letter to Mr Crow's lawyer to accuse the property mogul of "showering a public official with extravagant gifts then writing off those gifts to lower his tax".

A spokesman for Mr Crow told US media Mr Wyden's inquiries had "no legal basis and are only intended to harass a private citizen", and that Mr Crow had "always followed applicable tax law".

"It’s concerning that Senator Wyden is abusing his committee’s powers as part of a politically motivated campaign against the Supreme Court," said a spokesman for Mr Crow, Michael Zona.

Justice Thomas has not commented publicly on the letter. The Supreme Court did not immediately respond to an inquiry from the BBC.

Justice Thomas has previously said that he believed he did not need to report trips with close friends who do not have business before the Supreme Court.

It is the latest criticism against the conservative judge, whose previous travel on private jets and yachts have previously come under scrutiny.

Under a new disclosure system, the judge in June amended his annual statement to include two trips with Mr Crow in 2019 - one to Bali and another to California.

However, Mr Wyden alleged in his letter that the judge had used private jets paid for by Mr Crow at least 17 times in the last eight years.

The Oregon senator also cited a new trip that he said had not been reported publicly.

Mr Wyden cited US Customs and Border Protection records of a trip from Hawaii to New Zealand in 2010 by the judge and his wife, Virginia, on Mr Crow's private jet.

The White House said Mr Wyden's letter strengthened President Joe Biden's case for sweeping reforms to the court, which is currently dominated by conservatives.

Mr Biden last week proposed establishing term limits for justices, which are currently lifetime appointments, and an enforceable code of conduct.

Such changes would be difficult to pass in Congress.

The White House said on Monday that "the most powerful court in the United States shouldn't be subject to the lowest ethical standards, and conflicts of interest on the Supreme Court cannot go unchecked".

The heightened focus on court ethics has drawn scrutiny to other Supreme Court members.

It emerged last year that Justice Sonia Sotomayor, a liberal, did not recuse herself from three cases involving Penguin Random House, which had paid her more than $3m (£2.4m).

Banksy confirms new goat mural in London

The new artwork appeared in Kew Green in south-west London

ByEmma Wilkes
5th August 2024
Banksy goat mural. Credit: Carl Court/Getty


Banksy has confirmed that he is behind a new goat mural in south-west London.Read More: IDLES at Glastonbury 2024: Banksy-assisted protest blows away even sky-high expectations

The piece in the elusive artist’s signature stencilled style appeared on a wall in Kew Green, Richmond, depicting a goat perched on a ledge from which rocks are falling.

A real life CCTV camera was pointed at the goat but it has since been moved to its original position.

Banksy claimed ownership of the work by posting a photo on his Instagram.




It is believed to be the first artwork he has created since he launched a new art piece in the form of an immigrant boat during IDLES‘ performance at Glastonbury 2024. The dummy-filled boat was launched into the crowd on the Other Stage during their pro-immigration track ‘Danny Nedelko’.

The boat was a visual reference to the current migrant crisis, which has become the focal point of then-Prime Minister Rishi Sunak’s immigration policy. The stunt was criticised by then-Home Secretary James Cleverly, who called it “vile”.

He told Sky News: “There are a bunch of people there joking and celebrating about criminal actions which costs lives, people die. People die in the Mediterranean, they die in the Channel. This is not funny.”

In response, Banksy said: “The Homeland Security called my Glastonbury boat ‘vile and unacceptable’ which seemed a bit over the top. The real boat I fund, the MV Louise Michael rescued 17 unaccompanied children from the central med on Monday night. As punishment, the Italian authorities have detained it – which seems vile and unacceptable to me.”

The goat mural is the second mural of Banksy’s that has appeared in London this year. In March, an artwork painted behind a cut-back mature tree to look like foliage, with a stencil of a person holding a pressure hose, appeared on a wall in Finsbury Park.

Markets Crash As USD/JPY Carry Trade Unwinds
By James Elliot
Updated: Aug 05, 2024 at 20:15
FX InsightsUSD to JPY


Risk markets crashed lower at Monday’s open.

A perfect storm of diverging policies and yields in Japan and the US have blown up the carry trade.

Yields have collapsed in the US as markets expect aggressive Fed cuts to save the economy.

Markets crashed lower on Monday, continuing on from last week’s bearish moves. The most notable moves happened in the Nikkei, which was briefly down –15%, and the Nasdaq which was down –5%. Bitcoin was also down –13% and USDJPY continued to drop with another –3% move.

This is mostly the result of the unwinding of the USDJPY carry trade which has run into a perfect storm of negative drivers. Not only did the BoJ hike rates last week and strengthen the yen, the USD and US yields are falling rapidly as markets price in slowing growth and an aggressive Fed cutting cycle. This was put in sharp focus by Friday’s extremely weak jobs data. 120 bps of rate cuts are priced in by the year end when a week ago it was only around 75bps. A double-sized 50bps cut is now expected in September.

The diverging path of yields is blowing up an overcrowded carry trade which investors are scrambling to pare.


USDJPY Moves Sending Shockwaves Through the Markets

While the USD is crashing against the yen, it is reasonably steady against other currencies on Monday and is higher against the pound by 0.3%. On the other hand, it is lower by around the same amount against the euro, which is seen as a relative safe haven under the current conditions. EURGBP is higher by 0.7% and briefly traded to 0.859.

It is unclear how long the situation will last, but if the Nikkei has another session like Monday’s, surely the BoJ will step in with some measures to stabilize its markets. What exactly it or the Fed is willing to do exactly is unclear, though; any move would likely unwind the actions they took just last week when both the BoJ and Fed had meetings. Making a U-turn so quickly would be humbling. The first approach would be some supportive comments. As ING note,

“Presumably the Fed will have to offer some soothing words. Look out for a CNBC appearance today from Chicago Fed President Austan Goolsbee at 1430CET.”


US Yields Take a Dive

Yields have collapsed in the US and markets now expect an aggressive easing cycle from the Fed. All of this was triggered by two events last week which suggest the US economy could be in trouble. Firstly, the Fed made a key shift in focus and changed its statement from saying the committee "remains highly attentive to inflation risks" to say they are "attentive to the risks to both sides of its dual mandate." In other words, the labour market is a real concern.

Secondly, economic data took a real turn for the worst. Thursday's Unemployment Claims of 249K and weak ISM Manufacturing PMI were more red flags but it was Friday's Jobs Report which provided the nail in the coffin. The readings were weak across the board. Perhaps most troubling was the unemployment rate which has risen from a cycle low of 3.4% to 4.3%. The odds of a -50bps move in September have risen markedly.

“...the market is no longer looking for an orderly adjustment in Fed policy towards some kind of neutral rate - say near 3.25%. No, the fear of a recession is now bringing in the idea of stimulative monetary policy. This has seen the USD 1 month OIS rate priced two years forward priced sub 3.0%,” continued ING.

This may well be an overreaction, but for now the consequences are being felt across most global markets and the move could have further to run.


Stocks plummet worldwide as worries mount that U.S. economy has hit the brakes


Trader Gregory Rowe works on the floor of the New York Stock Exchange, Monday, Aug. 5, 2024.(AP Photo/Richard Drew) 

By Dave Boyer - The Washington Times - Monday, August 5, 2024

A swift global panic struck financial markets Monday, triggering stock sell-offs around the world amid fears that the U.S. economy is slowing into recession territory in the presidential election year.

Wall Street posted its second straight day of sharp losses after seven months of relatively steady growth. The technology-heavy Nasdaq composite fell 3.4%, the S&P 500 was down by 2.9% and the Dow Jones Industrial Average fell 1.9%.

Earlier Monday, Japan’s Nikkei 225 plunged 12.4% for its worst day since the 1987 crash. South Korea’s benchmark Kospi lost 8%. The losses cascaded through Europe, with London’s FTSE 100 down 2% on its worst day of trading since January.

Tech stocks in the U.S. sustained some of the heaviest losses as investors worried that spending on artificial intelligence might not bring results soon. Nvidia Inc. lost more than 6%, Apple was down 4.4% as Berkshire Hathaway cut its stake in the iPhone maker, and Microsoft fell 3.4%.

Investors worldwide reacted to the Labor Department’s report of weaker-than-expected hiring in July. They were concerned that the Federal Reserve had kept interest rates too high for too long to bring down inflation, which soared to a 40-year high under the Biden-Harris administration. The jobless rate in July rose to 4.3%, the highest since October 2021.

Economic anxieties highlighted by the massive sell-off rapidly regained prominence in the presidential campaign.

President Biden, returning to the White House from a weekend at his home in Delaware, didn’t respond to reporters’ shouted questions about the stock market. Vice President Kamala Harris, who quickly captured the Democratic Party nomination after Mr. Biden dropped out of the race, was huddled in meetings with advisers as she prepared to announce her selection of a running mate.

Her Republican opponent, former President Donald Trump, blamed Ms. Harris and the president for the market chaos, signaling the renewed importance of the economy and high prices as campaign themes.

“Of course there is a massive market downturn,” Mr. Trump said on social media. “Voters have a choice — Trump prosperity, or the Kamala crash & great depression of 2024.”

Sen. Tom Cotton, Arkansas Republican, posted on X: “If you think the economy is bad today, putting a San Francisco socialist in charge would make it much worse.”

Ms. Harris has been trying to calibrate her economic message as she takes over the Democratic campaign. “Bidenomics” has not sat well with voters who, despite a good employment picture for the past few years, have faced punishing price increases that canceled out wage gains.

Sen. J.D. Vance of Ohio, the Republican vice presidential nominee, will hold a campaign event in Philadelphia on Tuesday hours before Ms. Harris introduces her running mate to Democratic voters in the city. The Trump campaign gave a preview of Mr. Vance’s visit by saying, “The stock market is crashing because of weak and failed Kamala Harris’ policies. … In weak, failed, and dangerously liberal Kamala Harris’ America, families are struggling to afford the basics and stay safe.”

The Trump campaign said Pennsylvania families have had to pay an average of $958 more per month because of higher prices.

On Wall Street, some traders began wondering whether the damage was so severe that the Fed would have to cut interest rates in an emergency meeting before its next scheduled decision on Sept. 18. The central bank took no action on rates at its meeting last month.

“The Fed could ride in on a white horse to save the day with a big rate cut, but the case for an inter-meeting cut seems flimsy,” said Brian Jacobsen, chief economist at Annex Wealth Management. “Those are usually reserved for emergencies like COVID, and an unemployment rate of 4.3% doesn’t really seem like an emergency.”

Some of Wall Street’s recent declines may also be air coming out of a stock market that has ballooned to dozens of all-time highs this year, in part on a frenzy around AI technology and hopes for coming cuts to interest rates. Critics have been saying for a while that the stock market looked expensive after prices rose faster than corporate profits.

“Markets tend to move higher like they’re climbing stairs, and they go down like they’re falling out of a window,” said J.J. Kinahan, CEO of IG North America. He attributed much of the recent volatility to euphoria about AI subsidies and “a market that was ahead of itself.”

Professional investors pointed to the Bank of Japan’s move last week to raise its primary interest rate from nearly zero. Such a move helps boost the value of the Japanese yen, but it could also force traders to scramble out of deals for which they borrowed money at virtually no cost in Japan and invested it elsewhere around the world.

In some positive economic news Monday, a report said growth for U.S. service businesses was slightly stronger than expected. According to the Institute for Supply Management, growth was led by businesses in the arts, entertainment and recreation industries, along with accommodations and food services. Treasury yields also pared their drops after the better-than-expected data.

Others pointed to second-quarter annualized growth of 2.8% in the U.S., which was much stronger than expected.

For most of the year, investors worldwide drove stock markets higher, convinced that central banks were successfully, if haltingly, getting inflation under control. They were buoyed by a healthy U.S. economy and the promise of artificial intelligence.

By June, Nvidia, the leader in AI chipmaking, had joined Apple and Microsoft as $3 trillion companies. In mid-July, the S&P 500, Nasdaq composite and Japan’s Nikkei 225 had risen to all-time highs. Investors thought the high interest rates implemented by the Federal Reserve were taming inflation without causing a sharp slowdown in the U.S. economy, the world’s largest.

That confidence has taken a hit the past few days. Investors are listening to warnings that Nvidia and other Big Tech stocks have become too expensive and that massive spending on AI might not turn into profits for a while.

As the markets plummeted Monday, several online brokerage firms, including Charles Schwab, Fidelity and Vanguard, appeared to be down for thousands of users.

User reports appeared to peak around and just before 10 a.m. EDT, data from outage tracker Downdectector showed. Some frustrated customers online said that they were unable to log in or access their account balances.

“Due to a technical issue, some clients may have difficulty logging in to Schwab platforms,” Charles Schwab wrote on social media platform X. “Please accept our apologies as our teams work to resolve the issue as quickly as possible.”

By midday, Schwab confirmed that the issue had been resolved.

A Fidelity spokesperson told The Associated Press via email that the company was aware that some customers were experiencing “intermittent issues” earlier in the day but said that had been resolved.

Vanguard did not immediately return a request for comment.

At Charles Schwab’s peak, users reported nearly 15,000 outages around 9:50 a.m. EDT, per Downdetector. Fidelity and Vanguard had 3,800 and 2,900, respectively, closer to 10 a.m. EDT. User reports appeared to fall notably for all three platforms about an hour later.

• Stephen Dinan contributed to this article, which is based in part on wire service reports.


• Dave Boyer can be reached at dboyer@washingtontimes.com.







Google illegally maintains monopoly over internet search, judge rules

5 August 2024

Google logo
Google-Cookies. Picture: PA

Google will almost certainly appeal against the decision in a process that may land in the Supreme Court.

A judge has ruled that Google’s search engine has been illegally exploiting its dominance to quash competition and stifle innovation in a decision that could shake up the internet and hobble one of the world’s best-known companies.

The decision issued by US District Judge Amit Mehta comes nearly a year after the start of a trial pitting the Justice Department against Google in the country’s biggest antitrust showdown in a quarter of a century.

After reviewing reams of evidence that included testimony from senior executives at Google, Microsoft and Apple during last year’s 10-week trial, Judge Mehta issued his decision three months after the two sides presented their closing arguments in early May.

“After having carefully considered and weighed the witness testimony and evidence, the court reaches the following conclusion: Google is a monopolist, and it has acted as one to maintain its monopoly,” Judge Mehta wrote in his 277-page ruling.

8.5bn
Estimated worldwide number of queries processed per day by Google's search engine

He said Google’s dominance in the search market is evidence of its monopoly.

Google “enjoys an 89.2% share of the market for general search services, which increases to 94.9% on mobile devices”, the ruling said.

It represents a major setback for Google and its parent, Alphabet, which had argued that its popularity stemmed from consumers’ overwhelming desire to use a search engine so good at what it does that it has become synonymous with looking things up online.

Google’s search engine processes an estimated 8.5 billion queries per day worldwide, nearly doubling its daily volume from 12 years ago, according to a recent study from the investment firm BOND.

Google will almost certainly appeal against the decision in a process that may land in the Supreme Court.

For now, the decision vindicates antitrust regulators at the Justice Department, which filed its lawsuit nearly four years ago while Donald Trump was still president, and has been escalating it efforts to rein in Big Tech’s power during President Joe Biden’s administration.

“This victory against Google is an historic win for the American people,” said attorney general Merrick Garland.

“No company, no matter how large or influential, is above the law. The Justice Department will continue to vigorously enforce our antitrust laws.”

Satya Nadella
Microsoft chief executive Satya Nadella was one of the Justice Department’s star witnesses (Microsoft/PA)

The case depicted Google as a technological bully that has methodically thwarted competition to protect a search engine that has become the centrepiece of a digital advertising machine that generated nearly 240 billion dollars (£188 billion) in revenue last year.

Justice Department lawyers argued that Google’s monopoly enabled it to charge advertisers artificially high prices while enjoying the luxury of having more time and money to invest in improving the quality of its search engine — a lax approach that affected consumers.

Google ridiculed the allegations, noting that consumers have historically changed search engines when they become disillusioned with the results they are getting.

For instance, Yahoo — now a minor player on the internet — was the most popular search engine during the 1990s before Google came along.

Judge Mehta’s conclusion that Google has been running an illegal monopoly sets up another legal phase to determine what sort of changes or penalties should be imposed to reverse the damage and restore a more competitive landscape.

The potential outcome could result in a wide-ranging order requiring Google to dismantle some of the pillars of its internet empire or prevent it from shelling out more than 20 billion dollars (£15 billion) annually to ensure its search engine automatically answers queries on the iPhone and other internet-connected devices.

After the next phase, the judge could conclude only modest changes are required to level the playing field.

If there is a significant shake-up, it could be a coup for Microsoft, whose own power was undermined during the late 1990s when the Justice Department targeted the software maker in an antitrust lawsuit accusing it of abusing the dominance of its Windows operating system on personal computers to lock out competition.

That case mirrored the one brought against Google in several ways and the result could also echo similarly. Just as Microsoft’s bruising antitrust battle created distractions and obstacles that opened up more opportunities for Google after its 1998 inception, the decision against Google could be a boon for Microsoft, which already has a market value of more than three trillion dollars (£2.3 trillion).

After having carefully considered and weighed the witness testimony and evidence, the court reaches the following conclusion: Google is a monopolist, and it has acted as one to maintain its monopoly

Judge Amit Mehta

At one time, Alphabet was worth more than Microsoft, but now trails its rival with a market value of about two trillion dollars (£1.5 trillion).

Besides boosting Microsoft’s Bing search engine, the outcome could damage Google at a critical point that is tilting technology in the age of artificial intelligence.

Microsoft and Google are among the early leaders in AI in a battle that could be affected by Judge Mehta’s decision.

Microsoft chief executive Satya Nadella was one of the Justice Department’s star witnesses during the testimony that covered his frustration with Google deals with the likes of Apple that made it nearly impossible for the Bing search engine to make any headway, even as Microsoft poured in more than 100 billion dollars in improvements since 2009.

“You get up in the morning, you brush your teeth and you search on Google,” Mr Nadella said at one point in his evidence. “Everybody talks about the open web, but there is really the Google web.”

He also expressed fear that it might take an antitrust crackdown to ensure the situation does not get worse as AI becomes a bigger force in search.

“Despite my enthusiasm that there is a new angle with AI, I worry a lot that this vicious cycle that I’m trapped in could get even more vicious,” he told the court.

Google still faces other legal threats in the US and abroad. In September, a federal trial is scheduled to begin in Virginia over the Justice Department’s allegations that Google’s advertising technology constitutes an illegal monopoly.

By Press Association


Google maintains illegal monopoly over search: US judge

AAP
Aug 06, 2024


"Google is a monopolist, and it has acted as one to maintain its monopoly," a US judge has ruled, say the search engine illegally exploits its dominance. Photo: AAP

A United States judge has ruled Google’s ubiquitous search engine has been illegally exploiting its dominance to squash competition and stifle innovation in a seismic decision that could shake up the internet and hobble one of the world’s best-known companies.

The highly anticipated decision issued by US District Judge Amit Mehta comes nearly a year after the start of a trial pitting the US Justice Department against Google in the country’s biggest antitrust showdown in a quarter century.


After reviewing reams of evidence that included testimony from top executives at Google, Microsoft and Apple during last year’s 10-week trial, Mehta issued his potentially market-shifting decision three months after the two sides presented their closing arguments in early May.

“After having carefully considered and weighed the witness testimony and evidence, the court reaches the following conclusion: Google is a monopolist, and it has acted as one to maintain its monopoly,” Mehta wrote in his 277-page ruling.

He said Google’s dominance in the search market is evidence of its monopoly.

Google “enjoys an 89.2 per cent share of the market for general search services, which increases to 94.9 per cent on mobile devices,” the ruling said.

It represents a major setback for Google and its parent Alphabet Inc, which had steadfastly argued that its popularity stemmed from consumers’ overwhelming desire to use a search engine so good at what it does that it has become synonymous with looking things up online.

Google’s search engine currently processes an estimated 8.5 billion queries per day worldwide, nearly doubling its daily volume from 12 years ago, according to a recent study released by the investment firm BOND.

Kent Walker, Google’s president of global affairs, said the company intends to appeal Mehta’s findings.

“This decision recognises that Google offers the best search engine but concludes that we shouldn’t be allowed to make it easily available,” Walker said.

For now, the decision vindicates antitrust regulators at the US Justice Department, which filed its lawsuit nearly four years ago under then-president Donald Trump and has been escalating its efforts to rein in Big Tech’s power during President Joe Biden’s administration.

“This victory against Google is an historic win for the American people,” Attorney General Merrick Garland said.

“No company – no matter how large or influential – is above the law. The Justice Department will continue to vigorously enforce our antitrust laws.”

The case depicted Google as a technological bully that methodically has thwarted competition to protect a search engine that has become the centrepiece of a digital advertising machine that generated nearly $US240 billion ($370 billion) in revenue last year.

US Justice Department lawyers argued that Google’s monopoly enabled it to charge advertisers artificially high prices while also enjoying the luxury of not having to invest more time and money into improving the quality of its search engine – a lax approach that hurt consumers.

As expected, Mehta’s ruling focused on the billions of dollars Google spends every year to install its search engine as the default option on new mobile phones and tech gadgets.

In 2021 alone, Google spent more than $US26 billion to lock in those default agreements, Mehta said in his ruling.

Google ridiculed those allegations, noting that consumers have historically changed search engines when they become disillusioned with the results they were getting.

For instance, Yahoo was the most popular search engine during the 1990s before Google came along.

Mehta said the evidence at trial showed the importance of the default settings.

He noted that Microsoft’s Bing search engine has 80 per cent share of the search market on the Microsoft Edge browser.

The judge said that shows other search engines can be successful if Google is not locked in as the predetermined default option.

Still, Mehta credited the quality of Google’s product as an important part of its dominance, as well, saying flatly that “Google is widely recognised as the best (general search engine) available in the United States”.

Mehta’s conclusion that Google has been running an illegal monopoly sets up another legal phase to determine what sorts of changes or penalties should be imposed to reverse the damage done and restore a more competitive landscape.

The potential outcome could result in a wide-ranging order requiring Google to dismantle some of the pillars of its internet empire or prevent it from shelling out billions annually to ensure its search engine automatically answers queries on the iPhone and other internet-connected devices.

After the next phase, the judge could conclude only modest changes are required to level the playing field.

Trump warns "very bad" Google may be "shut down"


Griffin Eckstein
Sat, August 3, 2024 


Donald Trump unleashed a tirade against Google during a Friday interview with Fox Business host Maria Bartiromo, accusing the platform of refusing to apologize for blocking some results related to his attempted assassination.

In the segment, in which Trump attempted to outline the dangers of AI before Bartiromo redirected him to the subject of big tech companies, Trump went after the search engine.

Noting that Facebook representatives called him to apologize for flagging some posts featuring photos of his assassination attempt with fact checks, Trump said, “Google, nobody called from Google,” before unloading on the tech company.

In the rant, slammed by the Harris campaign as “unintelligible,” Trump seemingly, though not clearly, accused the search engine of biased search result ranking, a complaint he espoused nearly six years ago.

Trump’s less-than-succinct description, possibly referring to Google’s practice of algorithmic search result ranking, which conservatives have blasted as unfair in recent days, was followed with a harsh warning message to the tech giant.

“​​Google has been very bad. They’ve been very irresponsible. And I have a feeling that Google’s going to be close to shut down, because I don’t think Congress is going to take it,” the former president told Bartiromo. “I really don’t think so. Google has to be careful.”

Toward the end of the Fox segment, he also mulled stripping Google of its Section 230 protections and praised Elon Musk and X,  as Musk throws cash behind a PAC supporting his re-election bid.

Trump’s tenuous relationship with Silicon Valley has improved in many ways since his first term, strengthening ties with tech billionaire Peter Thiel, who groomed Trump’s VP pick JD Vance for office, and seeing bans on his accounts imposed after January 6th lifted. But Google continues to face attacks from the far-right, including accusations of suppressing Trump.



Time may not be real, but an illusion created by quantum physics, study suggests

Story by Riya Teotia • 

Time may not be real, but an illusion created by quantum physics, study suggests© Provided by WION

One of the most fundamental elements of the universe, time may not be real but an illusion created by quantum physics, suggests a new study.

The groundbreaking study shows time emerging from quantum entanglement- a weird connection between two very distinct particles.

Time has always been a tricky subject to define in Physics due to its inconsistent behaviour between the best universe theories available. Time has always led to a dead-end, preventing researchers from explaining all of the physics in the universe, what is called a “theory of everything.”

But the new study, published on May 10 in the journal Physical Review A, brings hope in solving this deadlock.

"There exists a way to introduce time which is consistent with both classical laws and quantum laws and is a manifestation of entanglement," first author Alessandro Coppo, a physicist at the National Research Council of Italy, told Live Science.
The problem of time

There are two theories on time- one in quantum mechanics and one illustrated by Einstein’s theory of general relativity.

In quantum mechanics, time is a fixed phenomenon with a unidirectional flow from the past to the present. It remains external from the ever-changing quantum systems it measures and can be seen only by observing changes to outside entities, such as the hands of a clock

But to Einstein's theory of general relativity- time is interwoven with space and can be warped and dilated at high speeds or in the presence of gravity.

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This leaves our two best theories of reality at a fundamental impasse. Without its resolution, a coherent theory of everything remains out of reach.

"It seems there is a serious inconsistency in quantum theory," Coppo said. "This is what we call the problem of time."
Probable solution

To resolve this problem, the researchers turned to a theory called the Page and Wootters mechanism. First proposed in 1983, the theory suggests that time emerges for one object through its quantum entanglement with another acting as a clock. For an unentangled system, on the other hand, time does not exist, and the system perceives the universe as frozen and unchanging.

By applying this theory to two entangled but noninteracting theoretical quantum states — one a vibrating harmonic oscillator and the other a set of tiny magnets acting as a clock — the physicists found that their system could be perfectly described by the Schrödinger equation.

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They repeated their calculations twice, assuming first that the magnet clock and then the harmonic oscillator were macroscopic (larger) objects. Their equations simplified, suggesting that time's flow is a consequence of entanglement even for objects on large scales.

"We strongly believe that the correct and logical direction is to start from quantum physics and understand how to reach classical physics, not the other way around," Coppo said.

(With inputs from agencies)