and I can't shake off the feeling that the incident with the neck slashing of S. Korea's opposition leader is a copycat move from the Shinzo Abe one.

Soooo…
Freedom Caucus leader Matt Gaetz just went on air and said “I feel like most conservatives support “limit save grow” (the >22% across the board slash and burn economy destroying cuts) and they don’t feel like we should negotiate with our hostage.”
There you have it…those controlling this manufactured economic crisis know this is terroristic hostage taking for ransom, they think of it in those terms themselves.
Remember, the American economy is their hostage, and they plan to cut out its kidney and send it through the mail on Wednesday.

Fiscally responsible? Are they saving money? Are they putting America ahead of themselves? Are their stated plans even possible? Is this in any way a rational, reasonable, or sane way to govern? Would MAGgots refrain from murder if circumstances were reversed and Dems were holding Trump’s economy hostage?
The answer to all is a resounding “no”.

HEEEEEEEEEEEEY---------
When am i gonna see that extra $4k dollars a year from the 2017 tax bill trump signed---a lot of people forgot about that, but just now we're hitting the stride where we have to start paying for the tax cuts he gave himself and anyone else making $500k+ a year

I'm supposed to get an extra $4k back in my taxes from that, that's why I have to pay more in taxes now that they're sun-setting.
https://web.archive.org/web/20200306224327/https://www.washingtonpost.com/news/wonk/wp/2017/10/11/trump-says-corporate-tax-cuts-will-mean-4000-extra-i
n-your-pocket-economists-arent-so-sure/

Remember? Where's my $4k trumppy? where's my extra $4k EVERY YEAR!?!?
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Oh but it saved jobs or something right? Is there an emoji for jacking-off an eggplant?

https://www.pbs.org/newshour/economy/making-sense/did-trumps-tax-cuts-boost-hiring-most-companies-say-no
https://www.theguardian.com/business/2020/mar/10/at-and-t-layoffs-jobs-slashed-trump-tax-cuts
https://publicintegrity.org/inequality-poverty-opportunity/taxes/trumps-tax-cuts/tax-law-offshore-jobs/

@bobknight33

Why can't the victim/PD/city sue the officers individually? "You do the crime, you do the time." Make the punishment just and personally reponsible & I bet these "bad apples" blue gangs occurences would be slashed by a half. Guess these "police union" criminal organizations holds too much power.

Qualified Immunity is such BS, such blanket protection/corruption shouldn't exist in the first place.

yep I did, Joe was alert and presented himself well.

His message was vote for me because I'm not Trump. Not exactly what people need.

it took 8 years for Biden/Obama to bring America back. Too slow. Trump came in cut taxes and slashed regulations and America took off.
Just look at the DOW Up some 12000 points. That growth, That Jobs Thats better wages in the making.


You can have the little girl sniffer. Americans will pick Trump.

Trump will whoop Ass Nov 3rd.

From all reports they had set up an illegal roadblock and he didn't stop for them to do whatever it was they wanted to do. Once he passed the first part of the roadblock, they attempted to block him and had knives out to slash his tires.

They were also putting out rebar caltrops to puncture tires and had other weapons.

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Surprised there hasnt been retaliation slashing of the popo's car tires where ever that happened... Turnabout's fair play.

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Newt,

This is in response to your comment on my statement about Biden needing to lose in '20.

I recently wrote this as a reply to one of my readers (I write under a number of different names in other places).:

Dear <name>,

>I took some time to absorb what you wrote. It's a lot to juggle. The Atlantic has an article in the July-August issue on the worst and best case scenario in CLO defaults. I'll read more.

I read the article you mentioned, and while it's certainly good, it also misses a very important point that explains the mess we're in: the collapse of Lehman and Bear-Stearns, while catastrophic in their own ways, were not the nightmare that caused the Fed to freak out in 2008 -- AIG was. Had AIG gone under and the counterparty default contracts triggered, we'd be on the barter system right now. We came within hours of not having an economy in the western world. The $700b ($.7t) the Fed coughed up to stop this from happening calmed the panic, but did nothing to resolve the underlying issues. These issues continued to compound during the 2011-2020 stock run-up and now we're at the point where the Fed is throwing trillions of dollars at every piece of bad debt they can find just to keep the whole thing from imploding into an economic black hole. It is important to note that in September '19, the credit markets started freezing because of the debt that was already on the books then, -before- CV-19 started rolling, and it took $3t just to get them unlocked again. Absolutely nothing has gotten better since then, and I would argue things have gotten dangerously worse.

In an odd coincidence, the NYT ran an article today about the looming bankruptcy crisis. They're calling for 30-60 days before things start imploding, but I'll stick to my estimate of ~90 days. There's some talk about extending the $600 benefits (we'll see) and chatter about another stimulus check, but that's kicking the can as well as telegraphing how bad things really are. When the Republicans are getting behind free money, you know we're in some uncharted territory. For all intents and purposes, Modern Monetary Theory (MMT) -- the reason the Fed is backstopping debt and printing money like crazy -- is the hill the US economy will live or die on. Should the US dollar come unpegged as the world's de facto currency or should inflation begin (and there's already worrying signs this is happening), that's game over.

Please don't take anything I say as the Word of God; please do your own research and come to your own conclusions. Everything I've said is an opinion based on my education, experience and way of thinking. Your mileage may vary.

Here is the article I mentioned: https://www.nytimes.com/2020/06/18/business/corporate-bankruptcy-coronavirus.html -- might be paywalled, but clear your cookies for the NYT and you should be able to read it.


>Frankly, it's the physical danger in my area of the States that concerns me. There are the guns and bullying. During some BLM demonstrations in the Midwest, locals were standing around with semi-automatics. I drive a Prius for the fuel efficiency. Pick up trucks enjoy tailgating, trying to intimidate me. This behavior isn't going to change with a change of President but will get worse is we don't change. This ideological push to takeover the country instead of ruling by compromise started around the same time we came to the US in 1981, Reagan's first year. I was so shocked when I heard talk radio for the first time; this wasn't the country I had left in the 1970s.


And now we come to the giant pile of sweaty dynamite that's just waiting for the right shock to set it off. I could give you a prolonged lecture about how this all started in 1978 with California's Proposition 13, or how David Stockman's tragically prescient warnings were blatantly ignored, but Haynes Johnson does a far better job at this than I ever could in his 1991 book "Sleepwalking Through History", as does Kevin Phillips in 2006's "American Theocracy". Honestly, at this point, the prelude is academic. The reality of the situation is that a large swath of adult Americans are appalling ill-educated, innumerate and devoid of even the most basic critical-thinking skills. These people are now locked out of the Information Economy. They lack the most basic skills required to compete in the 21st century job market and thus will watch their standard of living sink into the abyss. These people are not blind to this fact because they're living with the reality of their situation every single day. They're totally without hope, cut off from all avenues of control over their own lives and they feel utterly abandoned by the very people who're supposed to be helping them. The reason you're seeing bullying and behavior like that is because these same people are totally removed from any avenues of recourse and the only people they can take their anger out on are people like you and me. Their anger is being stoked on a daily basis. FOX News and the GOP are experts at this and have a host of boogeymen to keep the anger from being pointed their way: ANTIFA, BLM (black Americans have always made a perfect target), "coastal elites" and, of course, Liberals.

Trump's election was a warning, not an outlier. Trump was the primal scream of these people and Liberals and the Democrats as a whole chose not to listen because they found the sound so abhorrent. The rage will only get worse and the number of people enveloped by this rage will only grow as economic conditions worsen. At this point, it no longer matters who wins in '20. Winning the election will be like winning the deed to the World Trade Center one second after the first jet hit. The damage has already been done and no steps are being taken to repair it; if anything, people are actively making it worse either through ideological blindness, deliberate malfeasance or outright stupidity. It took almost 50 years to get to this point and the endemic issues will not be undone in a single generation, much less a single election. Until the people who voted for Trump feel a sense of real hope, a sense of control over their lives and a genuine expectation of recourse for their grievances, they will keep right on voting for Trump, or people like him.

My unfortunate suspicion is that this country will rip itself to shreds long before those reforms are enacted.

Side note: the fundamental difference between the United States and Europe is that European history has forced the nations of Europe to live with the consequences of their actions. Not so the United States. Europe has suffered for her sins. Not so the United States. The two bloodiest wars in human history were fought on European soil. Not so the United States. The United States has never faced true suffering, nor has it ever had to live with the ramifications of its own actions. Both these facts are about to change and a nation whose character is built on a mythology of individual action and violence is going to have to face reality. The people of this nation are not prepared for this and they will not like it.

Second side note: many people are erroneously comparing the current situation to the Wiemar Republic. This is a lack of historical understanding. A more apt comparison would be to Spain in late 1935.


>As for re-opening, we could have gotten some control if the "leader" had simply donned a mask and used realistic thinking. People could go back to work more safely, wash hands, stay a certain distance. But his hubris led the way, so now we'll have a roller coaster for months and years that will affect the economy even more. France is a good comparison because they were unprepared also, having slashed the public healthcare budget for the last twenty years. But when they laid down the rules, troops patrolled the streets to be sure they were followed. So far, they've flattened the curve (for now), and used different economic incentives, such as paying part of employees' salaries to keep them employed.

At this point, the pace of re-opening is a difference between very bad and much worse. Had $3t been used to pay the yearly salary of every American, we could have saved lives and the economy, but we didn't. The history of 2020 will be littered with "what-ifs". However, the first thing you learn when studying history is that what-ifs are useless because things are what they are and you can't change that. It's already obvious we're going into a second wave. If previous pandemics are any indication of what's to come, this second wave will be many times worse than the first. The wait for a vaccine is indeterminate, but if we're going for herd immunity, ~70% of Americans will need to catch the virus. To date, ~1.5% have. If the US population is ~330 million, ~230 million will need to catch the virus. Call the mortality rate 2%, that means ~4.6 million Americans will die. That's a lot of dead Americans and grieving families.

Take care,

(my actual name)

Police... trying to recover from yet another nightmare situation of their own creation, see fit to run people over, pepper spray the peaceful marchers, slash tires and windows, pull people from their cars as they're driving home, shoot at journalists and others not involved in any violence or destruction while laughing about it.

I'm sure that'll restore the trust of the public in law enforcement.

You know, because he downplayed this so much along with Fox news, americans are dying.

Blah blah blah china, blockade, yeah he did that while he was calling the virus a democrat hoax. because he did that and kept slashing funding for various gov programs designed to protect us from this --- AMERICANS ARE DYING - more than would have died otherwise.

Cant get much more anti-american than killing a bunch of americans. but I always thought you were a traitor.

State government funding other more needy projects constantly neglecting teachers.


Trump slashing policies which create 200K/ jobs month giving these people choice. MEGA 2020

I don't know, but I've seen it before in other demonstrations or illustrations so they must have had good gloves . I figure that the blade was probably only kept sharp at the tip.

from wiki on the ineffectiveness of cutting slashes against full plate:
"To overcome this problem, swords began to be used primarily for thrusting. The weapon was used in the half-sword, with one or both hands on the blade. This increased the accuracy and strength of thrusts and provided more leverage for Ringen am Schwert or "wrestling at/with the sword". This technique combines the use of the sword with wrestling, providing opportunities to trip, disarm, break, or throw an opponent and place them in a less offensively and defensively capable position. During half-swording, the entirety of the sword works as a weapon, including the pommel and crossguard. One example how a sword can be used this way is to thrust the tip of the crossguard at the opponent's head right after parrying a stroke. Another technique would be the Mordstreich (lit. "murder stroke"), where the weapon is held by the blade (hilt, pommel and crossguard serving as an improvised hammer head) and swung, taking advantage of the balance being close to the hilt to increase the concussive effect."

15:05-15:30: you tell Mr and Mrs Front-Porch that your loonie of 1871 cannot be compared to your loonie of 2013 (year of this interview). You went off the gold standard in '33, you abandoned the peg in '70, and your currency has been free-floating ever since. Yes, the ratio of debt to GDP has some importance, but so does the nature of your currency. Just look at Greece and Japan, where the former uses a foreign currency and the latter uses its own, sovereign, free-floating currency.

Pay back the national debt -- have you thought that through?

First, the Bank of Canada is the monopolist currency issuer for the loonie, so explain to me in detail just how the issuer of the currency is supposed to borrow the currency from someone else? If you're the issuer of the currency, you spend it into existence, and use taxation as a means to create demand for your currency, and to free resources for the government to acquire, because you can only ever buy what is for sale.

Second, every government bond is someone else's asset. An interest-bearing asset. A very safe asset, in the case of Canada, the US, the UK, Japan, etc. "Paying back the debt" means putting a bullet into just about every pension fund in the world that doesn't rely exlusively on private equity or other sorts of volatile toilet paper.

There's a distributional issue with these bonds (they are concentrated in the hands of the non-working class, aka the rich), no doubt about it. But most of the other issues are strictly political, not economical.

What if the interest rate rises 1%? The central bank can lower the interest rate to whatever it damn well pleases, because nobody can ever outbid the currency issuer in its own currency. Remember, the central banks were the banks of the treasuries. The whole notion of an independent central bank was introduced to stop these pesky leftists from spending resources on plebs. That's why central banks were often removed from democratic control and handed over to conservative bankers. If the Treasury wants an interest rate of 2% on its bonds, it tells its central bank to buy any excess that haven't been auctioned off at this rate. End of story.

What if the market stops buying government bonds? Then the central bank buys the whole lot. However, government bonds are safe assets, and regulations demand a certain percentage of safe assets in certain portfolios, so there is always demand for the bonds. Just look at the German Bundesanleihen. You get negative real rates on 10 year bonds, and they are still in very high demand. It's a safe asset in a world of shitty private equity vaporware.

But, but.... inflation! Right, the hyperinflation of 2006 is still right around the corner. Just like Japan hasn't been stuck near deflation for two decades, and all the QE by the BoE and the ECB has thrown both the UK and the Eurozone into double-digit inflation territory. Not! None of these economies are running near maximum capacity/full employment, and very little actual spending (the scary, scary "fiscal policy") has been done.

But I'm going off track here, so.... yeah, you can pay back your public debt. Just be very aware of what exactly that entails.

As for the poster-child Latvia: >10% of the population left the country.

Here's a different poster-child instead, with the hindsight of another 4 years of austerity in Europe after this interview: Portugal. The Portuguese government told Master of Coin Schäube to take a hike, and they are now in better shape than the countries who just keep on slashing.

On a different note: Marx was wrong about the proletariat. Treating them like shit doesn't make them rebellious, it makes them lethargic. Otherwise goons like Mario Rajoy would have had their comeuppance by now.

PS: Blyth's book on Austerity is an absolute must-read for anyone interested in its history or its current effects in particularly the Eurozone.