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By Tyler Durden

Following the release of former secret service officer Gary Byrne's book, Clinton campaign officials have tried to play down his accusations with ad hominum attacks at Byrne as opposed to denying any of his allegations. However, as his book gains traction, RealClearPolitics reports that during his appearance of FOX News' Hannity show, Byrne talked Hillary Clinton's temperament, her “terrified staff,” Bill Clinton carrying on affairs, drug use in the White House and more with host Sean Hannity. Byrne said Clinton was feared by her staff and was notorious for her yelling. Byrne told Hannity that she has “blown up” at him and other Secret Service agents…

“She gets angry at things that are policy issues that, you know, take time to fix, and she's got this attitude where she wants things fixed right now, immediately. She screams and yells at people,”

“There’s many examples that I site in my book where she blows up at people,” Byrne said. “Like I’ve said, she has blown up at me before, and agents, and her staff. At one time, I saw her staff so afraid to tell her about a mistake that was made. They weren’t upset about the waste of the mistake, ordering the wrong invitations, they were terrified that someone was going to have to tell Hillary Clinton that there was a mistake made.“

Byrne says Clinton's behavior during his tenure in the Secret Service proved to him that she does not have the temperament for the Oval office.

BYRNE: I feel so strongly that people need to know the real Hillary Clinton and how dangerous she is in her behavior. She is not a leader. She is not a leader.

SEAN: She does not have the temperament?

BYRNE: She doesn’t have the temperament. She didn’t have the temperament to handle the social office when she was First Lady, she does not have the temperament.

SEAN: She’s dishonest.

BYRNE: She’s dishonest, she habitually lies, anybody that can separate themselves from their politics and review her behavior over the past 15 years…

SEAN: You’re going to be accused of being political.

BYRNE: Absolutely I’m sure I will be, I have already and it’s not.

SEAN: And what’s your answer?

Byrne: It’s got nothing to do as politics.

Byrne talked wrote about then-President Bill Clinton's behavior, accusing him of carrying on multiple affairs and gave his perspective on the Monica Lewinsky affair and the scandal as it was happening. Byrne talked about several different affairs and how the Secret Service was expected to clean up after him.

HANNITY: How many women do you know, for sure, that he had affairs with in the Oval Office?

BYRNE: In the White House complex? I’d say easily three, maybe four, that I know of.

HANNITY: And you could see Monica Lewinsky from a mile away?

BYRNE: Sure. Sure.

HANNITY: You knew she wanted to be near him.

BYRNE: She was certainly manipulated some of the staff, other officers, myself to find out where he was—

HANNITY: She wasn’t manipulating if you saw through it.

BYRNE: Yeah, I agree. But I saw through it right away, …read more

Source: "People Need To Know The Real Hillary Clinton And How Dangerous She Is"

    

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for latest details. …read more

Source: World’s largest uncut diamond up for auction

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By Tyler Durden

April was not a good month for home prices – despite hopeful signs from seasonally adjusted sales data. S&P Case-Shiller 20-City index rose just 0.45% MoM (well below expectations and March’s 0.85% gain) – the weakest rise since Aug 2015. The broader Home Price Index hovered near unchanged for the 2nd month – the weakest since January 2012. Most worrisome, perhaps, is the 18.16% YoY plunge in San Francisco home sales… as perhaps the bubble is finally bursting.

20-City (Seasonally Adjusted) Index…

Broad (Seasonally-Adjusted) Home Price Index…

…read more

Source: Case-Shiller Home Prices Rise At Slowest Pace In 8 Months As San Francisco Sales Slump

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By Tyler Durden

For the first time since triggering a political earthquake that’s shaken Europe’s foundations with his now massively backfired decision to hold a EU membership referendum in 2015, a decision which won him the parliamentary election battle but lost him, and Europe, the war, UK Prime Minister David Cameron is set to face his fellow – and very angry – European Union leaders at what may be Cameron’s last summit (or supper as Bloomberg puts it) in Brussels, even as back in London, the race to succeed him is heating up.

Cameron arriving at the EU summit in the next half hour or so…..

— Laura Kuenssberg (@bbclaurak) June 28, 2016

As BBC puts it, David Cameron wanted to arrive in Brussels triumphant… instead he is coming as a disgraced failure.

“Cameron wanted to come back here today as the man who’d kept the UK in the EU, who’d settled the question that has plagued the UK for decades. And instead, he has to look round the table and say, “I’ve just taken the UK out, with all the consequences that brings”. But of course, these are European leaders, it’s not going to descend into any kind of bickering. I think they’ll all be trying to say, “How do we move forward from here?””

As Bloomberg eloquently adds, Cameron will endure an awkward dinner with his EU cohorts Tuesday after his effort to calm the U.K.’s divided public and soothe investors failed to stop the pound and the country’s biggest banks from getting clobbered. The premier has already announced he will quit after last week’s vote, leaving him little leverage at the table.

His government has signaled it prefers a gradual exit from the EU while the region’s three largest economies are keen to set a timetable to contain the economic damage. Which is contrary to his earlier claims (made when he was confident of Remain winning) that the Article 50 process would be triggered immediately after a Leave vote.

“We don’t know how long he is going to be prime minister for, when a new government could begin to negotiate terms,” said Mark Leonard, director of the European Council on Foreign Relations. “The rest of the EU feel they bent over backwards to accommodate Cameron over the last months and he launched this reckless referendum and lost it so the other EU states are in no mood to do him any favors.”

In Brussels, Cameron will be pressed to give some indication on how he expects the U.K. to trigger Article 50 of the Lisbon Treaty – the mechanism for leaving the EU – and what he thinks Britain’s relationship with the bloc will look like after the divorce, according to diplomats in Brussels.

But the outgoing prime minister has said those details would be up to his successor to hash out, a strategy which Merkel has endorsed in hopes that as the fallout over the Brexit decision settles the UK may collectively change its mind about its depature.

“He’s …read more

Source: Previewing Today’s Main Event: David Cameron Arrives In Brussels

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Baubax, which raised $9.2 million on Kickstarter for its travel jacket, has a new project: clothes that can wirelessly charge your smart devices. …read more

Source: These clothes can wirelessly charge your phone

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George Osborne has no doubt: The U.K. will “absolutely” have to cut spending and raise taxes following its vote to leave the EU. …read more

Source: Brexit means higher taxes, less spending for U.K.

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By williambanzai7

…read more

Source: GoLDMaN STRoNG…

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By Tyler Durden

In October of 2014, Chinese insurance company Anbang purchased the historic Waldorf Astoria hotel in Manhattan for $1.95 billion. This M&A activity, as we have noted many times, was part of an effort to bypass Chinese capital controls and park cash in America.

Today, courtesy of the WSJ, we learn what Anbang's plan is for the hotel. The insurance group plans to close down the 1,413 room property in the spring and renovate it so that when it reopens, the hotel will feature between 300 and 500 guest rooms upgraded to luxury standards, with the remaining units to be sold as condominiums.

Anbang hasn't shared much publicly about its plans for the Waldorf, however as the WSJ notes, Anbang Chairman Xiaohui Wu hinted at the company's vision last year when speaking before an audience at Harvard University. Xiaohui said he planned to convert hotel rooms into condos and suggested that there would be an element of exclusivity by saying “A potential buyer needs more than money to qualify for our apartments.”

The renovation costs are expected to be more than $1 billion, and being that Anbang already spent $1.95 billion on the acquisition, $3 billion in sales would be needed to break even on the venture – although admittedly, this perhaps was never really about turning a profit as much as it was to get USD in bank accounts in the US.

Anbang will have a difficult time covering that $3 billion in today's market. In 2014 Morgan Stanley hotel analyst Thomas Allen wrote that based on sales at other luxury Manhattan condo buildings, a conversion of the historic hotel could help raise $4 billion in condo sales under a best-case scenario. However, as readers of this site know full well, the best case scenario has long passed when it comes to luxury real estate in Manhattan.

The number of contracts signed for units at $4 million or more during the first 25 weeks of this year fell 22% y/y according to Olshan Realty, who said “There's just too much inventory that's overpriced. We're past the peak.“

Not only will the renovation change the historic hotel, it will also cost hundreds of employees in room-service, housekeeping and other hospitality roles their job. Anbang has reached severance agreements to the tune of $100 million or more according to the WSJ.

* * *

The move is a bold one that will test the resolve of a weakening Manhattan real estate market, but then again the company boldly bid an additional $14 billion for Starwood, the owner of the W Hotels, Sheraton and St. Regis brands, before pulling the offer after it couldn't prove it had the funds.

Here is all we have to say about this plan:

…read more

Source: New Chinese Owner Of Waldorf Astoria Will Convert It Into Condos

    

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Posted June 28th, 2016 in Uncategorized.

Beijing Is Falling… Literally

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By Tyler Durden

If you've ever been to Beijing and gotten that sinking feeling (no, not the one that those get when being disappeared), then you're not alone because the city is literally sinking. According to a new study, Beijing is sinking 11cm (4 inches) a year because the city is using too much ground water.

Some areas of Beijing are sinking by as much as four inches a year due to the over-pumping of groundwater from beneath China's capital the International Business Times reports.

As the International Business Times explains

Some areas of Beijing are sinking by as much as four inches (11 cm) each year, due to the over-pumping of groundwater from beneath China's capital, a survey has revealed. Beijing has a population of over 20 million and is the fifth most water-stressed city in the world, meaning the resulting subsidence is set to worsen.

Groundwater has sat beneath the city for thousands of years, but it is increasingly being used for domestic consumption, industrial use and agriculture. It has been estimated by state media outlet Sina that Beijing alone requires 3.5 billion litres of water each year, two-thirds of which is pumped from beneath the city. As it is removed, the soil compacts, causing subsidence above. The process is accelerated by the increasing weight bearing down as buildings continue to be constructed.

The data was compiled using GPS measurements and satellite imagery, and found that some central zones were most at risk. These included the eastern suburb of Chaoyang, where subsidence was 11 cm a year. Chaoyang is also one of the areas where development has been most marked and the report claims there may be risks to inhabitants due to the uneven nature of the subsidence.

According to the study, published by the National Natural Science Foundation of China, the sinking of land could have an impact on the country's transport infrastructure. In an email to The Guardian they wrote: “We are currently carrying out a detailed analysis of the impacts of subsidence on critical infrastructure (eg high-speed railways) in the Beijing plain. Hopefully a paper summarizing our findings will come out later this year.”

As the population grows, the pace at which the city sinks accelerates.

Sputnik has more

However, the pace at which it is sinking has accelerated as its population has increased. Beijing's population in 1935 was 5.6 million; it rose to 10.8 million by 1990.

In recent years, there has been even greater urban growth. In early 2016, the city's population reached an estimated 21.7 million, up from 19.6 million in 2010, and 13.6 million in 2000.

The distribution of the sinking depends on fault lines in the ground beneath the city, and is worse in the east, north-east and northern parts of Beijing, where bowls of sinking ground have increased in size and gradually merged.

It's not just Beijing either, according to the study 45 other cities across China are also sinking, including Shanghai.

* * *

The silver lining to this bizarre …read more

Source: Beijing Is Falling… Literally

    

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Posted June 28th, 2016 in Uncategorized.

Brexit: Russia’s Comfort Level Rises, US Loses Eurasian Plot

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By Tyler Durden

Submitted by Ambassador M.K.Bhadrakumar via Asia Times,

If there is a tide in the affairs of men, as Brutus said in William Shakespeare’s play Julius Caesar, it must be the same in the affairs of nations, too.

Less than a week ago, the North Atlantic Treaty Organization was creeping toward the borders of Russia and relentlessly provoking it, but the tide abruptly turned on Friday. Eurasian politics will never be the same again after Brexit.

Only last Wednesday, while addressing the Russian Duma in Moscow, President Vladimir Putin took Russia’s political elites into confidence that the nation was facing once again a menace on its borders similar to the Nazi invasion exactly 75 years ago.

However, two days later in Tashkent, Putin spoke calmly and in a detached tone, when asked for his reaction to Brexit. But he hinted he is insightful enough to recognize the opportunity brought up by fate. Putin said:

• Brexit will have “consequences” for both Britain and Europe as a whole and will inevitably have “global effects… both positive and negative”;
• “Time will tell whether there will be more pluses or minuses”;
• Brexit will impact market and currencies, but a “global upheaval” is unlikely;
• Apropos sanctions against Russia, if EU countries are ready for “constructive dialogue,” Moscow will be “not only ready – we seek it and we will respond positively to positive initiatives”;
• Having said that, Russia has limits since the onus on the implementation of the Minsk accord on Ukraine lies with Kiev and “without them, we can do nothing.”

Putin had most recently visited Greece, an EU country closest to Russia. Significantly, in the words of the Greek Prime Minister Alexis Tsipras, Brexit “confirms a deep political crisis, an identity crisis and a crisis in the European strategy.”

This would also be echoing the broad swathe of Russian opinion.

The Russian commentators on the whole feel elated that the Brexit vote will inexorably lead to a weakening of the EU sanctions. Indeed, they expect a significant improvement in Russia’s relations with Britain.

London is a favorite playpen of Russian oligarchs and Moscow elites. Boris Johnson, the UK’s most likely post-Brexit prime minister, has been a vocal supporter of warm relations with Russia, and the Moscow elites regard him to be an unusual politician who has no cold war mentality and even more interestingly, has no foreign policy mentality, either.

Clearly, the surmise among the Russian analysts is that Washington will be hard-pressed to impose its trans-Atlantic leadership in the same manner it used to, and the EU itself will be probably unable to reach a consensus on extending the sanctions against Russia beyond the end of the year. These are Russia’s best bets.

However, Putin’s cautious words suggest that Moscow will keep its fingers crossed as to how Washington could afford to permit Brexit to be taken to its logical conclusion and simply allow the British people to leave the EU. Quite obviously, Putin neatly sidestepped any talk of European disintegration.

On the other hand, Moscow cannot be unaware that Euroskepticism is a pervasive phenomenon in Europe. If …read more

Source: Brexit: Russia’s Comfort Level Rises, US Loses Eurasian Plot

    

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Posted June 28th, 2016 in Uncategorized.

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