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Massachusetts Taxpayers Sue Over Anti-Semitic, Pro-Islam School Lessons

A group of Massachusetts-based taxpayers are suing the school committee in the city of Newton, a wealthy, liberal enclave, over what they claim is the leadership’s ongoing promotion of anti-Semitic school materials and the promotion of Islamic religious beliefs, according to an announcement from the organization handling the lawsuit. Education Without Indoctrination, a local community group driving the lawsuit, “claims multiple violations of the Massachusetts Open Meeting Law stemming from the school committee’s handling of a burgeoning scandal over anti-Semitic lessons and the promotion of Islamic religious beliefs as objective facts in the public school district’s history classes,” according to a press release from the group. The lawsuit stems from a controversy of Newton Public Schools use of what the group claims are “unvetted educational materials” produced by the Saudi Arabian oil company ARAMCO and the Qatari government, which has long been cited for its funding of terrorism. “In teaching world history, Newton Public Schools (NPS) use unvetted educational materials funded by the Saudi oil company ARAMCO and the government of Qatar. As a result, Newton public school students are propagandized with materials that slander Israel and the Jewish people, and that falsify history to promote the Islamic religion in public schools,” the press release states. “Just this past May, Newton North High School invited an anti-Semitic group to screen Palestinian propaganda films to its students,” it continues. “For...

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Global Stocks Slump, US Stocks Jump Despite Economic Data Dump

After a week like that, this seemed appropriate… Before we get started, let’s note that all is not well in the world (despite the constant happy-talk on ‘Murican media)… Global stocks are down 14% from their all-time-high in January…   31-month lows for SHCOMP as Chinese stocks had another ugly week… (3rd biggest weekly drop since Jan 2016)   “The Chinese stock market does not reflect the speed of the Chinese economy” is what the mainstream media constantly wants to reassure. There’s just one thing… Asia mega-tech (TATS – Tencent, Alibaba, Taiwan Semi, Samsung) crashed this week…   European stocks were all lower too…   But of course, US equities ended higher… again… The Dow and S&P are no up 6 weeks in a row – because noting else matters. NOTE Nasdaq ended the week lower… US macro data is the most disappointing in 11 months, but stocks love it… US stocks were on their own…   And it was all defensives…   Tesla was clubbed like a baby seal as Elon Musk’s NYT confessional failed to create the “feel sorry for me” narrative he hyped for… (worst day since March and worst week for Tesla stocks since Feb 2016 – after the best week since May 2013) TSLA Bonds are leading…   FANG Stocks were all ugly too…   But AAPL is soaring to new record highs –...

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After Death Threats, Manafort Judge Gets Federal Protection; Jury To Resume Deliberations Monday

The judge in Paul Manafort’s Virginia trial for bank and tax fraud revealed in open court on Friday that he has received death threats, and is now traveling with the protection of the US Marshals Service.  “I have the marshal’s protection,” Ellis said. “I don’t even go to the hotel alone. I won’t even reveal the name of the hotel.” “I had no idea this case excited this emotion in the public,” he added. Manafort also refused to release the names of the jurors at the request of a coalition of news organizations, citing safety reasons. The Washington Post, New York Times, AP, CNN, NBC, Politico and Buzzfeed all requested the names of jurors deliberating in the Manafort case.  “I don’t feel it’s right if I release their names,” said Ellis.  BREAKING: #Manaforttrial judge won’t release names of jurors citing safety reasons. Says he is under 24/7 US Marshals protection after threats and said “I had no idea this case excited this emotion in the public.” — Paula Reid (@PaulaReidCBS) August 17, 2018 Meanwhile, the jurors told Ellis in a Friday afternoon note that they are unlikely to reach a verdict before the weekend, and would like to leave at 5 p.m. so one of the jurors can attend an event. Ellis said he would reconvene court at 10 minutes to 5 p.m. to discuss when they would like...

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Buy Gold, Sell Small Caps – PIMCO Warns Late-Cycle Risks Are Rising

Authored by Mihir Worah via PIMCO, EXECUTIVE SUMMARY At this stage in the cycle, investors should consider inflation risk, market dispersion, recession risk and other key factors we discuss in our midyear update. We identify five opportunities for the near term as well as provide updated asset allocation views and positioning. Investment opportunities, from an asset allocation view, include shorter-maturity bonds, gold, and large cap equities. There are ample signs of change in the wind for investors. The Federal Reserve is raising short-term interest rates, and U.S. inflation is at target for the first time since 2012. The global trade order that has existed for decades is being disrupted. Several economic indicators are running hot (see Figure 1) even as the current U.S. expansion has begun its tenth year. Volatility is higher as some investors price a dire outcome while others are more sanguine, creating relative value opportunities. In this midyear update to our outlook, detailed in our paper “Singles and Doubles,” we discuss some medium- to longer-term themes relating to late-cycle investing as well as some shorter-term opportunities arising from current market dynamics. Four key themes INFLATION We see significant risk of an uptick in inflation, as detailed in our paper, “Inflation Awakening.” We believe investors should understand the inflation sensitivity, or “inflation beta,” of their portfolios. Traditional stocks and bonds tend to respond negatively to inflation surprises...

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NY Times Story Tries to Tie Kavanaugh to Judge Who Didn’t Even Know Who He Was

The New York Times on Thursday ran an article about the latest Democratic line of attack on Supreme Court nominee Brett Kavanaugh without bothering to contact the man at the center of the story. The Times reviewed emails that Kavanaugh sent as a White House lawyer in the George W. Bush administration during the confirmation process for Charles Pickering Sr., and outlined Democrats’ contention that Kavanaugh may have misled Congress when he said he did not “primarily” handle Pickering’s confirmation for an appeals court seat. National Review senior writer David French, an accomplished attorney, contacted Pickering, however, and found out the Times never reached out to him for the article. What the article did provide was Democrats’ point of view that Kavanaugh did not testify truthfully to the Senate in 2006 when he said Pickering was “not one of the judicial nominees that I was primarily handling.” Senate Minority Leader Chuck Schumer (D., N.Y.) accused Kavanaugh of leading “critical aspects” of that confirmation fight, but Pickering told French he did not even know who Kavanaugh was at the time. “While I worked with attorneys in the White House Counsel’s office, I cannot recall a single interaction with Brett Kavanaugh about my judicial nomination. I do not even remember knowing his name at the time,” Pickering told French. “His 2006 testimony is accurate.” The email record shows Kavanaugh did not have...

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