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United Airlines warns of major consequences of Boeing 737 Max blowout

United Airlines has just revealed that Boeing’s safety issues will continue to have a domino effect on its operations.

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United Airlines  (UAL) has just warned investors that Boeing’s continued safety issue with its 737 Max 9 aircraft fleet has cost the airline millions of dollars in profits and has forced it to significantly shrink its aircraft delivery forecast for 2024, which could spell trouble for travelers during a historic airline travel season.

“The grounding of the Boeing MAX 9 fleet negatively impacted our earnings by more than $200 million and without it, we would have had a profitable quarter,” said United CEO Scott Kirby during a call that discussed the company’s first-quarter earnings.

Related: Major airlines may be unable to meet record-high travel demand this year

On Jan. 5 an Alaska Airlines flight was forced to make an emergency landing after a door plug blew off of the Boeing 737 Max 9 aircraft mid-flight. Video of the incident, which was filmed by passengers on the plane went viral and led to an investigation by the Federal Aviation Administration which looked into Boeing’s safety and quality control practices and halted the production of its 737 Max expansion.

United Airlines reported a net loss of $124 million during the first quarter of 2024 compared to the $194 million net loss it faced during the same time period in 2023.

United Airlines Chief Financial Officer Mike Leskinen warned during the earnings call that Boeing’s continued jet delivery delays, which is the result of its safety issues, has created “an impractical bow wave of aircraft deliveries” for United to address, and its aircraft delivery forecast for this year will be cut as a result.

“In 2024, we now expect to take delivery of 61 narrowbody aircraft and five widebody aircraft,” said Leskinen during the call. “This compares to our contractual deliveries of 183 narrowbody aircraft at year-end and the 101 aircraft we were planning for at the start of the year. Due to these fleet changes, we now expect full year 2024 total capital expenditures to be approximately $6.5 billion, down from $9 billion at the start of the year.”

A United Airlines jet at an airport. 

Shutterstock

United Airlines is also facing a safety probe of its own from the FAA after the airline has faced multiple incidents involving safety issues such as a wheel falling off of its Boeing 777 aircraft as it was heading to Osaka, Japan on March 7. Also, on March 15, a United Airlines flight, which was a Boeing 737-800 aircraft, was revealed to be missing an external panel after it landed in Medford, Oregon.

During the earnings call, United Airlines President Brett Hart claimed that the FAA probe will cause the airline to experience even more aircraft delivery delays.

“These reviews are being taken very seriously and we will see this as an opportunity to further strengthen our commitment to safety,” said Hart during the call. “As we work through this safety review with the FAA, certain certifications will be delayed. As a result of this, we expect a small number of aircraft scheduled for delivery in the second quarter to be delayed. We expect this to have a minimal impact to our 2024 capacity plans.”

United Airlines’ aircraft issues come amid a year that is expected to have record-high airline travel. According to a December report from the International Air Transport Association, a record 4.7 billion people are expected to travel in 2024, which the association claims is “an historic high that exceeds the pre-pandemic level of 4.5 billion recorded in 2019.”

Related: Veteran fund manager picks favorite stocks for 2024

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Desperation Behind European Politicians’ Latest Russiagate Hoax

Desperation Behind European Politicians’ Latest Russiagate Hoax

Authored by Peter Sourek, Cecile Jilkova, and Michael Shellenberg via Public…

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Desperation Behind European Politicians' Latest Russiagate Hoax

Authored by Peter Sourek, Cecile Jilkova, and Michael Shellenberg via Public Substack,

The success of right-wing German political party AfD led European politicians to abuse their powers, perhaps illegally...

European Commission Vice President Věra Jourová (left) Prime Minister of the Czech Republic, Petr Fiala (center); President of the European Commission, Ursula von der Leyen (right)

European politicians claimed late last month that Russia bribed European politicians to spread disinformation and interfere in the upcoming June elections. “Russian influence scandal rocks EU,” screamed a March 30 Politico headline.

Russia “is using dodgy outlets pretending to be media [and] using money to buy covert influence,” claimed European Commission Vice President Věra Jourová.

The BBC agreed: “Russian network that 'paid European politicians' busted, authorities claim.

Heads of state hyped the alleged scandal.

“We uncovered a pro-Russian network,” claimed Petr Fiala, the Prime Minister of the Czech Republic, “that was developing an operation to spread Russian influence and undermine security across Europe.”

Poland's intelligence agency said it had conducted searches in the Warsaw and Tychy regions and seized €48,500 (£41,500) and $36,000 (£28,500).

However, following an investigation by Public, the head of the Czech Intelligence Agency (BIS), Michal Koudelka on Monday admitted that his agency has no information about any bribery scheme.

"I cannot confirm anything,” he said.

It’s true that Russia's media influence in Europe intensified considerably during the Covid-19 pandemic. At that time, a number of marginalized voices found space on the German broadcasts of the Kremlin's propaganda television, Russia Today, which the president of the European Commission, Ursula von der Leyen, promptly shut down in 2022.  

But von der Leyen has conceded that there is no proof of a Russian bribery network. 

“They have carried [Putin’s] propaganda into our societies,” she said. “Whether they have taken bribes for it or not.”

Public asked von der Leyen what evidence she has for her allegations. What was the misconduct or illegal activity if there were no bribes?

...

After two weeks of hysteria, the German media are now backing away from the claim that right-wing nationalist politicians with the Alternative for Democracy (AfD) party in Germany took money from the Russians.

The mainstream German media are now claiming, like von der Leyen, that it doesn't matter if the politicians took any Russian money since they do what the Russians want.

...

All of this raises questions about the motivations behind Europe’s latest Russiagate disinformation campaign.

Why are European leaders so desperate to smear their political enemies as Russian puppets that they were willing to potentially break the law by weaponizing intelligence agencies and interfering in elections?

...

The European Russiagate hoax is but a two-week window of cheap spy tales per country. Desperate incumbents try to make the most of this one-in-campaign opportunity.

The Belgian Prime Minister is right (tongue in cheek): We must be vigilant! It is important that truly independent media do not let politicians abuse their power and run this bleak hoax any higher.

Public subscribers can read the full details of this shocking story here...

Tyler Durden Thu, 04/18/2024 - 03:30

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Food Is Now An Investment – Here’s Why Inflation Isn’t Going Away Anytime Soon

Food Is Now An Investment – Here’s Why Inflation Isn’t Going Away Anytime Soon

Authored by Brandon Smith via Alt-Market.us,

One of the…

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Food Is Now An Investment – Here's Why Inflation Isn't Going Away Anytime Soon

Authored by Brandon Smith via Alt-Market.us,

One of the more difficult aspects of working in economic analysis is the problem of rampant disinformation that you have to dig through in order to get to the truth of any particular issue.  In this regard, economics is very similar to politics.  The propaganda is endless and debunking it sometimes feels like moving a mountain with a teaspoon.

Establishment media sources lie incessantly about our financial conditions, and when they are finally cornered and forced to admit how bad things are, they then lie about the causes.  That said, I find that these lies are usually designed to do one of two things:  Over-complicate the problem so that people give up thinking about it, or, distract from the problem so that people blame a scapegoat.

As for inflation, here is the bottom line:

Central Banks And The Fiat Flood

Rising prices are caused by two main drivers.  The first is money creation, or too many dollars chasing too few goods.  Central banks around the world have been FLOODING the system with fiat currency ever since the debt crisis of 2008 and the Federal Reserve within the US is the worst violator by far.  We are talking about tens of trillions (or more) in money creation, all supposedly as a means to stall or prevent a deflationary crash.

By the time the pandemic lockdowns were initiated and the Fed dropped $8 trillion+ onto the economy through stimulus measures like covid checks and PPP loans, the total US money supply was already at destructive levels.  The covid stimulus was simply the straw that broke the camel’s back.  So, if you want to know who is directly to blame for your daily expenses rising 30% or more in the span of three years, the first set of criminals are the central bankers.

Governments and certain corporate partners are also to blame, but the central banks are the root mechanism for all inflationary movements.  It’s my belief (according to the evidence) that central banks have deliberately triggered a stagflationary crisis with the intent to forcefully replace cash based economies with a new digital and cashless global economy.  However, that’s a discussion for another article…

Shortages And Core Resources

The other primary cause of rising prices is shortages or disruptions in key resources including oil and energy.  Keep in mind that the war in Ukraine has led to the west being cut off from large portions of the resource rich Russian market.  And, the war in Gaza has led to groups in the Middle East like the Houthis denying a multitude of cargo ships and oil tankers from traversing the Red Sea.

By themselves, each one of these events seems like a small threat to the global supply chain, but when they pile up together the effects become detrimental.  For now, the biggest factor is rising energy prices because this is the key resource that allows all agriculture and manufacturing to function.  Every time oil prices rise you’re going to see prices in everything else rise.

This is the exact reason why the Biden Administration continued to dump the US Strategic Oil Reserves on the market for the past couple years.  This was their way of manipulating oil prices down in order to mitigate or hide the greater effects of inflation.  Now that they’re being pressured to refill those reserves and start buying (at a much higher price) global oil prices and US prices in particular are spiking again.

Media Disinformation And Crushing Food Costs

Food costs have risen by 30% or more depending on the product since the beginning of 2020, and even though CPI reports several months ago showed a “slowdown” in overall inflation, this does not mean prices are going to go down anytime soon.  In fact, they will only keep rising with each passing year.

CPI is a tool for measuring the AVERAGE price increases of over 80,000 products and services across a wide spectrum.  Many of these items are not necessities and so they dilute the actual inflation we are seeing in everyday expenditures.  If we were to look at an average of daily necessities like housing, energy, food, etc. then CPI would read far higher.

When the media touts a lower CPI print as a sign that the economy is improving, what they usually don’t mention is that the stat only represents how much higher prices are going to go.  A lower CPI does not mean costs on the shelf are going to go down.  Inflation is cumulative.

Meaning, that 30%+ increase in food that Americans have been dealing with – That’s not going away, it’s just not climbing as fast as it was.  And, as we’ve seen in the past couple months, inflation has the ability to return just as quickly to add even more gasoline to the fire.

Not long ago I was reading through an article from CBS that claimed they could explain why there’s been no respite in food prices lately.  In reality the entire piece was disinformation, blaming every possible scapegoat while ignoring the real causes.

Their main explanation is “Greedflation,” or the claim that companies are overcharging on food items.  In other words, blame businesses, don’t blame the Federal Reserve and don’t blame the government.  They’re “innocent” in all of this.

So far there’s no concrete evidence to support the Greedflation theory.  Every business has unique expenses, unique overhead, unique industrial costs, unique quality control and unique resource costs.  One cookie company’s bottom line will be different from another cookie company’s bottom line.  That said, there are universal costs that directly correlate to higher prices regardless of the company, and that includes energy, labor, and core commodities.

For those that track the markets it’s obvious that commodities are climbing.  The Industrial Commodity Index is far higher today than it was in 2020, along with oil and gas prices.  Every base resource that companies use to make products is increasing in value and thus it costs them more to manufacture.  Agriculture in particular is heavily affected by oil prices as well as prices in fertilizer and farming equipment, not to mention higher costs in labor.

From 2020 to 2023 the total costs paid by farmers to raise crops and care for livestock increased by more than $100 billion, or 28%, to an all-time high of $460 billion in 2023.  Funny how that number tracks very close to the 30% increase in overall food prices since 2020. 

The establishment media wants you to believe that high food prices are going to go away soon, and in order to trick you they need to convince you that the cause is something that can be “controlled” or “regulated”.

There is no indication that agricultural costs are going to stop increasing in the near future, so, that means each year food is going to cost you more than the year before. 

It might even cost you MUCH more than the year before.

In conclusion, this is why people need to start looking at food as an investment similar to the way they might look at their 401K or any retirement plan.  If you want to mitigate costs in the future in terms of food you will need to purchase foods with a long shelf life now.  If you think that inflation is a passing phase and that things will go back to the way they were before 2020 then you probably won’t take this concern seriously.  But, consider this:

Well before 2020 I was warning regularly about an impending stagflation crisis.  The food storage I bought in 2020 now costs at least 30%-50% more to buy in 2024.  Meanwhile, some of the top mainstream economists in the country were denying such a thing would ever happen.  When it did happen, they claimed it was “transitory.”  This was also proven false.  Now they claim food will drop after companies are forced through regulation to cut prices.

Whether government intervenes or the market continues to react to poor fiscal policies, it is quickly becoming a necessity to invest in food security as soon as possible.  Government enforced price controls have never actually proven effective in stopping inflation.  Once you remove all profit incentives many businesses will close up shop.  This causes the supply of goods to go down and prices then spike anyway due to shortages.

Do you want to bet your future on establishment economists being right for once, or, do you want to just store some food today in the knowledge that prices are only going exponentially higher?

*  *  *

One survival food company, Prepper All-Naturals, has proactively dropped prices to allow Americans to stock up ahead of projected hikes in beef prices. Their 25-year shelf life steaks currently come at a 25% discount with promo code “invest25”.

Tyler Durden Thu, 04/18/2024 - 00:00

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Arboviruses, mosquitoes and potential hosts tracked in real time in São Paulo city

The technology used to sequence SARS-CoV-2 at record speed early in the COVID-19 pandemic has been successfully tested as a technique to monitor arboviruses…

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The technology used to sequence SARS-CoV-2 at record speed early in the COVID-19 pandemic has been successfully tested as a technique to monitor arboviruses and diseases transmitted mainly by mosquitoes. 

Credit: Lilian de Oliveira Guimarães/Instituto Pasteur

The technology used to sequence SARS-CoV-2 at record speed early in the COVID-19 pandemic has been successfully tested as a technique to monitor arboviruses and diseases transmitted mainly by mosquitoes. 

In an article published in the journal Microbiology Society, researchers affiliated with Pasteur Institute in São Paulo, Brazil, and the University of São Paulo (USP), in collaboration with colleagues at the University of Birmingham in the United Kingdom, describe the use of the technology to sequence viral RNA and DNA from blood-engorged mosquitoes collected in São Paulo city with the aim of finding out how arboviruses circulate as a basis for predicting future outbreaks of dengue, zika, chikungunya and yellow fever, among other diseases. 

“The study proved the concept that it’s possible to use metagenomics [sequencing the genetic material of all organisms in an environment at the same time without isolating them] to analyze samples from invertebrates. Previously, it was used to analyze samples from vertebrates [such as humans and other primates]. Our protocol can reveal viral diversity and identify mosquito species while also analyzing their feeding habits, and has the potential to extend our understanding of insect genetic diversity and the dynamics of arbovirus transmission,” said Karin Kirchgatter, a researcher at Pasteur Institute (São Paulo) who coordinated the study jointly with Nicholas J. Loman, Professor of Microbial Genomics and Bioinformatics at the University of Birmingham.

The protocol was developed by researchers affiliated with the Brazil-UK Center for Arbovirus Discovery, Diagnosis, Genomics and Epidemiology (CADDE), which is supported by FAPESP. Arbovirus tracking was made possible by adaptation of a rapid metagenomics technique developed during the PhD research of Ingra Morales Claro, who was supported by a scholarship from FAPESP

Another key member of the research team was Ester Sabino, a professor at USP. Sabino led the first sequencing of SARS-CoV-2 in Brazil (in March 2020) and genomic analysis of the first cases of infection by the gamma variant in Manaus, the capital of Amazonas state, about a year later (read more at: agencia.fapesp.br/35414). 

“The success of the tracking test was important. It showed that the technology can also be used to investigate arboviruses rapidly and efficiently. The test wasn’t surveillance but the technique will be an important part of it. We also added information of various kinds, such as epidemiological data, as a basis for predicting new outbreaks of disease,” Sabino said.

How it works

Nanopore sequencing allows for real-time analysis of long DNA or RNA fragments. It works on the principle of minute changes in electric current when the nucleotides of a single-stranded DNA molecule are pulled through a nanopore, a tiny hole (on the order of 1 nanometer in internal diameter) that is made up of certain transmembrane cellular proteins. The amount of change in current is characteristic for each nucleotide. The change in the current is directly read, and the sequence is determined by detecting changes in the current specific to the base in question. The results can be compared to genetic sequencing databases to determine the details of interest, such as the species from which the sample was taken. 

“The technique is still expensive. No genetic sequencing technology can be considered low-cost to date. With time and expanding use, the cost will come down,” said Jeremy Mirza, a researcher at the University of Birmingham and first author of the article. He is also affiliated with CADDE.

Real-time metagenomics can be used to detect emerging viruses and unknown pathogens in samples taken from patients, without requiring reagents developed specifically for certain microorganisms, as do conventional tests.

The protocol described in the article identifies vectors, viruses and hosts by means of a portable device that can be used in future to look for pathogens in remote areas. For the first time, it has now been used to identify not just the virus and mosquito species in a sample, but also the contents of the mosquito’s blood meal.

“We tested the technology on samples collected at the São Paulo zoo, a biodiversity hotspot and hence an interesting area for this type of study. The diversity of vectors and blood meal sources is huge. Large numbers of people are continuously on the move there, it’s a stopover for many migratory birds, and it’s also a controlled location with a known number of animals and species. The mosquitoes can be tracked as they move through the zoo on the basis of the blood on which they feed,” Kirchgatter explained.

The samples analyzed in the study came from engorged mosquitoes collected at the zoo in 2015 and had already been analyzed using traditional techniques. “This enabled us to compare the results and the time taken in each stage of the process,” said Lilian de Oliveira Guimarães, second author of the article and a researcher at Pasteur Institute. At the time, she had a postdoctoral scholarship from FAPESP. 

“In 2015, we analyzed each mosquito individually, identifying the species by classical taxonomy, sequencing specific regions of each specimen and comparing the sequences manually. This took weeks. With the new methodology, molecular identification is feasible in real time. It identifies and correlate species and feeding preferences, as well as the viruses present in the insect.” 

According to the authors, the positive results of the arbovirus tracking test open the door to further research and discoveries. Combining information about mosquito genetic diversity and the transmission dynamics of mosquito-borne viruses presents an opportunity to link novel arboviruses to the mosquito vectors of these pathogens. 

“Further, it can be used to identify animals that may be infected by these viruses and point to risks of spillover into human populations,” the researchers note. “The portability of the technology permits discovery of novel arboviruses in remote environments, and the method can form the basis of an early warning detection system by identifying arboviruses before they spread into human populations, providing a system for preempting future arboviral epidemics”.

About São Paulo Research Foundation (FAPESP)

The São Paulo Research Foundation (FAPESP) is a public institution with the mission of supporting scientific research in all fields of knowledge by awarding scholarships, fellowships and grants to investigators linked with higher education and research institutions in the State of São Paulo, Brazil. FAPESP is aware that the very best research can only be done by working with the best researchers internationally. Therefore, it has established partnerships with funding agencies, higher education, private companies, and research organizations in other countries known for the quality of their research and has been encouraging scientists funded by its grants to further develop their international collaboration. You can learn more about FAPESP at www.fapesp.br/en and visit FAPESP news agency at www.agencia.fapesp.br/en to keep updated with the latest scientific breakthroughs FAPESP helps achieve through its many programs, awards and research centers. You may also subscribe to FAPESP news agency at http://agencia.fapesp.br/subscribe.


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