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Armed Militia Protestors Occupy Wildlife Refuge in Oregon - Q1, 2016

 

Burns, Oregon - Anti-government armed militia protestors have occupied the Malheur National Wildlife Refuge in Harney County, Oregon near the small town of Burns. Led by Ammon Bundy, son of rancher Cliven Bundy famous for a standoff with the federal government over unpaid grazing fees on federal land in 2014, the militias occupying the wildlife refuge are armed and considered dangerous. 

 

Militias present have cited as a catalyst of the event the treatment of two area ranchers convicted of federal land arson, who they believed were wrongly convicted, despite the men in question, Dwight and Steven Dwight Hammond, a father and son duo, has publicly stated that they do not want their assistance. The occupation of the Malheur National Wildlife Refuge began when Bundy led an armed group of militia members and protestors to the refuge following a peaceful public rally in the nearby city of Burns. The militia has also emphasized an overall view that the federal government has encroached on the rights of farmers and ranchers by controlling federal land that should be left to the states. 

 

Anti-government militias and far-right organizations are among those represented by the occupiers at the refuge. Prominent members of militant right-wing organizations like the 3 Percenters and Oath Keepers have formed a significant portion of the wider group. Online chatter in anti-government circles has seen an uptick following the start of the occupation. "It's very concerning," said Southern Poverty Law Center head Morris Dees. "We have seen a rise in far-right militancy since the 2008 election and the occupation of the Malheur National Wildlife Refuge is yet another escalation of an emerging problem."

 

State and local law enforcement have been in communication with occupiers for days following the initial occupation. Oregon Governor Kate Brown (D-OR) and other state officials have called on the occupiers to cooperate with law enforcement and bring the confrontation to a close. The White House has announced that the President has been briefed on the ongoing situation and the FBI is currently coordinating with local and state authorities. Some experts have indicated that the administration's more cautious approach may be a intentional effort to avoid a volatile situation with anti-government protestors and federal agents, with allusions to the infamous Ruby Ridge incident and Waco siege being made on mainstream news networks.

 

The citizens and local government of Burns and Harney County have expressed opposition to the actions of the occupiers. Many local leaders have cited the tactics of the occupiers as counter-productive and dangerous. Despite opposition to the methods of the occupiers, many have also acknowledged that they share similar grievances with the federal government over land rights. "I've lived in Barns all my life and I've seen the feds encroach on our ability to use the land time and time again," said Burns resident Mark Jamison. "What I don't like is these out-of-state bums coming to our community and stoking an armed confrontation. It's damn foolish and puts our community in a bad light. Many in our community have our issues with the government's policies towards federal land but we don't gotta resort to this kind of nonsense to make that point known."

[Tedder]

Moody’s Downgrades China, Cites Economic Risks Amidst Growing Debt

 

In a move signaling growing concerns over China’s financial health, Moody’s Investors Service has downgraded China’s sovereign credit rating from Aa3 to A1. This significant adjustment marks Moody's first downgrade of the Asian powerhouse since 1989. The ratings agency has also revised its outlook from negative to stable, a reflection of balanced risks despite burgeoning debt levels.

 

Marie Diron, a senior official at Moody’s, detailed the reasons behind the downgrade in an interview with CNBC’s “Street Signs.” According to Diron, a combination of declining growth forecasts and an increasing reliance on policy stimulus to prop up the economy were key factors. She highlighted that while China’s official growth targets are being adjusted downwards, they lag behind the required pace to address emerging economic vulnerabilities.

China’s Ministry of Finance swiftly countered Moody’s decision, criticizing the ratings methodology as flawed. The ministry argued that Moody's overestimates the challenges facing China's economy and underestimates Beijing’s capability to implement structural reforms and manage overcapacity.

 

The downgrade comes amidst expectations that China’s overall debt will continue to rise, with Moody’s projecting the government’s debt burden to increase toward 40 percent of GDP by 2018. The ratings agency cited concerns that despite planned reforms, rising leverage across households, non-financial corporations, and the government sector would persist, fueled by policy efforts to maintain robust economic growth.

 

This shift has already stirred reactions in financial markets, notably impacting the Australian dollar due to Australia’s significant trade relations with China. The currency experienced a minor dip following the announcement.

 

Moody’s adjustment aligns its rating with that of Fitch, bringing uniformity among leading ratings agencies regarding China’s economic outlook. This development raises questions about the potential for Standard & Poor's to follow suit. S&P has maintained China on a negative outlook since early 2016, hinting at possible downgrades ahead.

 

Economic analysts are divided on the impact of the downgrade. Some see it as a confirmation of well-known risks, unlikely to alter investor sentiments significantly. Others, like those at ANZ, suggest that the downgrade could exacerbate risks, potentially raising borrowing costs for Chinese entities and influencing global perceptions negatively.

 

The decision by Moody’s underscores the challenges China faces in balancing growth with sustainable financial practices. As the world watches, the effectiveness of China’s policy measures to mitigate these risks remains a critical focus for investors and policymakers alike.