By the way, be extra safe in California. I heard, from my son, who lives in San Jose, that the covid numbers were going to the moon in LA.
Wish you would read “A Promised Land” for Barack’s full explanation of this - which is covered extensively in his memoir - in fact, it never really goes away - and to be real - it never has - we are still living with the fallout - and it may well happen again.
Have you watched the movie “The Big Short”, which is all about the meltdown in visual form, and told very well. You will get a sense of the why - and the complexity. There is also a book with the same title, also excellent, but really the movie is a must see. It may be available for free on youtube or 123 movies.
@UncleFester This would apply to your reply too Unc.
Heh - I had a small family corporation once upon a time (wellsite geology), and I was a stockbroker for eleven months just after the crash of '87.
Really - start with that movie “The Big Short”, and then either Obama’s “A Promised Land”, or some other book on the financial meltdown - it is complex stuff, and really, it involves everyone, not just the bankers and hedge funds and the financial system as a whole.
We all buy houses, at least the middle class - we all have credit cards and debt - and that’s the root of the problem - the borrowing of money - and in the case of the housing market - the expectation that if you buy a house - like magic you have your nest egg for the future - as it just keeps growing and growing in value. Same for stocks and bonds.
They are all money rackets - and we have all bought in - then we blame someone else.
Yes - and over 4000 deaths per day the last two days overall in the US.
Here in Canada - Ontario just can’t get a hold of things - and it is right out of control. Japan is locking down Tokyo I understand.
The economic fallout from this pandemic is still to come, bad as things are now I believe.
This idea that you can just keep printing money - think about that. Or maybe, don’t - we have enough on our plates just now.
If Trump resigns or is impeached this Monday - I think that will be a positive sign - a start - and just a start.
This really is ‘The Long Emergency’ we are all in - and it’s here to stay for the foreseeable future.
PS: I see a Boeing 737 has just gone down in Indonesia (not a 737-Max).
I am also a pilot - and I think today I am going to get myself a flying magazine, a Canadian one actually, and just read about the skies - to relieve the stress of the moment and live in the past for a short while. (haven’t flown for decades).
Years ago, when I was 19, a friend of mine had a Piper Colt that I used to fly. It was a lot of fun, but I never went farther than that into flying. Now it is all about sailboats and my beloved garden. And that brings up a good point. I suspect that you are correct about the economy, but here in the Catskills, the growing season is long enough to produce just about anything, so I have been self isolating and sending my time on organic produce. I had a great summer last year, and l plan to do the same this year. We, due to my wife’s trying out all sorts of exotic dishes, ate like royalty all summer, and I delivered a lot of the extra to the local food co-op. It was such a thrill to know that I was helping to feed so many people. Anyhow, by working with nature, instead of fighting it, one can become quite liberated from “the economy.” I only wish that more people could see it this way.
Your reply had nothing to do with my comment.
I said that there WERE other courses of action that a people like us could think of.
I made no comment about what I thought the better choice was. I simply pointed out that there were other options.
You can have a opinion on which was the better choice. Reading a book may change your opinion on which was the better choice. But it is still a fact that there were other options to choose from.
I guess I have more reading to do, as I know that the Americans with Truman bombed the hell out of No Korea. Bombing dams to drown people too. That was awful. But then reading of what happened tp Dresden in WW 2 was horrific too. And they made china and porcine , not war—suffocating a city full of Germans. : (
I have read that Israel attacked the USS liberty because the people on the ship were listening to what Israel had planned and was coimng.
The UK gave up Hong Kong so I am not sure if the UK is still undermining that area too. Sadly it seems that quite a few nations, including our own do the same awful things as others do, but choose to ignore that America does the same. : (
There really are no rules for the winners, who write the history. German soldiers machine-gunned Allied prisoners and were tried for war crimes; Americans did the same to many German POWs without even a reprimand e.g. The Biscari massacre in Italy. The opposition is always painted as the devil, usually as a motivation to encourage killing without remorse. Throughout history in war all nation-states will do whatever it takes to win. Right now China thinks they have a real shot at world domination and I don’t don’t think they will stop until they have made a run at it.
True enough – at least from WWII 'til 2008, but then the Bankster’s were allowed to market EXCESSIVE hope, and sell EXCESSIVE crooked deals to gullible D’Uhmuricuns. And then the instigators of these crooked deals were not only let off the hook, they were given MY tax dollars – along with the tax dollars of many, many others – AND scum like Steve Mnuchin were allowed to take ownership of many, many homes instead of those tax dollars somehow being siphoned through a system to assist those taken advantage of to retain their homes (or at least SOME of their investments). As to Haspel and Prince and Yoo and all of the other implementors of the torture programs still running around free – that just sucks. I will NEVER forgive O’Bummer and P’Loser, and neither should you.
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The financial PTB seem to expect an annual growth of 3% to 4% to maintain a “healthy” economy, so there is either a 3 to 4 percent annual increase in production or a 3 to 4 percent increase in “efficiency” (decrease in wages?) or some balance of the two needed to keep the princes and lords and dukes of the new feudal ruling class happy. But a three percent annual increase in productivity implies a three percent annual increase in both resource consumption and its resultant pollution, so in just 24 years everything doubles, on a planet that’s already stressed to the max just keeping its present population of greedy, nasty humans alive. Let’s face it — between the devil of Trumpism and the deep blue sea of the Death of Mother Earth, we’re screwed!
I think Thomas Jefferson, after spending time in France, picked up a few things. They are with their faults but they do have a good sense of liberty, probably extraordinary for the time. And, Benjamin Franklin had some good Ideas. Certainly, wish I knew more about him. I heard a great deal about the Great Depression from family. My friend and I (she a first generation European immigrant} would always compare how frugal things could be done. Interesting because they lived near rezervations when they first came here. The ole timers I know loved FDR.
Sorry for the late reply, Yes, I agree with your son it is pretty bad in the state, and especially LA. It is hard to believe it has been a year already. Stay safe as well.
Well the depression, here in New York, sure was bad. It formed my father’s personality, for the rest of his life, and he had some very sad stories to tell us as well.
They are disinvesting on a global scale. That means commercial entities get a right of establishment which people cant touch. Only if there were no commercial entities selling health insurance would a single payer system be allowed, unless we underwent a divorce of sorts from the system we signed the deal committing us to, first. Otherwise we will kill the system we’ve got dumping millions of old people into the commercial market. The health insurance system is the commercial property of corporations now. Poor corporations for poor people in poor countries and rich corporations for Americans, the richest people in the world. All of the kinds of things that save money are by and large only allowed to the very poorest of countries and only for a limited time. Because we are so rich, we canjt be allowed any breaks. Our own country’s core policy wont allow it. How would it look, if while people were dying all around the world we gave our own people special breaks? Let our people break the WTO rules to save a few bucks? No, they wont allow it. Biden would not allow it, he would veto it he already said.
One thing Biden can and quite possibly will do is offshore the poor peoples care. That way the poor and those with pre-existing conditions. (medical underwriting is allowed now, I am fairly sure) can still afford it, no subsidies needed. An operation that might cost $300000 here might only cost $30000 in India.
Look at it this way, we are married to the Mob, meaning the health insurance and drug industries. They write our laws now. They certainly wrote the ACA.
Since the US is married to the for profit everything, Biden could not propose to a system who is not his wife. Since the US is already married.
We should have not have signed away our right to regulate healthcare insurance 26 years ago! (When we joined the WTO)
They have not been truthful with us! Deal with it.
China doesn’t claim to be a democracy, though.
They even admitted they had massacred the pro-democracy demonstrators in 1989 recently, at the “Shangri La Dialogue” regional security meeting in Singapore.
The Chinese defence minister tied that to the huge influx of FDI that occurred in the 90s and 2000s.
The capital from rich people all around the world just poured in.
With trade in services agreements they can offshore prisons, healthcare, police, (if they start they will have to continue) old age care, Banking, insurance, electronic transactions, payday lending, its all about creating permanent debt…
Energy, that’s a whole frontier of debt creation they have barely scraped yet, but its coming!
“everything you cannot drop on your foot”, basically, services are almost everything.
Outsourcing more and more will make skilled wages all a lot cheaper globally. Once it starts it locks in since its a treaty. Prisons will become the new factories.
And No more moral hazard for politicians. All of the issues like healthcare are already decided but the chance perhaps existed of a upset, until the last few years, now they can move forward with the total globalization of what once were the middle class jobs, they will become precarious labor.
Blame it on coronavirus! LOL. (Sarcasm!)
That’s what this election is really all about. Making huge corporations more profitable.
Globalizing everything. We rejected Trump and his anti-globalization agenda. Now the global services trade can prune away the dead wood, so to speak. Eliminate the red tape that preventing the most efficient use of the world’s skilled workers.
This speaks to what you said. This is the real cause of the 2008 mess.
Search in there on Glass Steagall Its near the end. Note the date.
I would certainly support that choice (is she your rep? I was looking for people here who could write her on #forcethe vote earlier). Is there any downside in presidential succession when the speaker is not a citizen? Or is that person just passed over?
Part of me wonders if someone who has been in the house longer is more appropriate. If so, my vote would go to Barbara Lee. Too bad we don’t get to vote.
They, too, are enablers, complicit and culpable themselves, and must also be held accountable for decades of, literally, criminal actions. “Quietly passed/enacted sellouts to corporate/foreign/self-interests.”
Considering rapidly rising sea levels, hurricanes, etc., how long until Mar-a-Lago is literally “under water?”
Both the GOP and Corporate/Establishment Dems are criminal organizations.