Debt Rattle September 4 2019

 

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  • #49541

    Marcel Duchamp Sonata 1911   • To Cut Or Not? Dueling Fed Views Boost Pressure On Powell (R.) • The Economic Future of a Negative Interest Rate W
    [See the full post at: Debt Rattle September 4 2019]

    #49542
    V. Arnold
    Participant

    Marcel Duchamp Sonata 1911

    So very lovely…

    #49544

    I wanted to come back to the RT piece in yesterday’s Debt Rattle that said “There is also China’s “nuclear” option of dumping US Treasuries.”

    Because I don’t think there is such an option. Michael Pettis explained this last year and again this spring. The ‘crux’ is that China can sell the T-bills, but it would have to invest the money in something else, and there is no something else available that would serve their purpose.

    China Cannot Weaponize Its U.S. Treasury Bonds

    To see why any Chinese threat to retaliate against U.S. trade intervention would actually undermine China’s own position in the trade negotiations, consider all the ways in which Beijing can reduce its purchases of U.S. government bonds:

    • Beijing could buy fewer U.S. government bonds and more other U.S. assets, so that net capital flows from China to the United States would remain unchanged.

    • Beijing could buy fewer U.S. government and other U.S. assets, but other Chinese entities could then in turn buy more U.S. assets, so that net capital flows from China to the United States would stay unchanged.

    • Beijing and other Chinese entities could buy fewer U.S. assets and replace them with an equivalently larger amount of assets from other developed countries, so that net capital flows from China to the United States would be reduced, and net capital flows from China to other developed countries would increase by the same amount.

    • Beijing and other Chinese entities could buy fewer U.S. assets and replace them with an equivalently larger amount of assets from other developing countries, so that net capital flows from China to the United States would be reduced, and net capital flows from China to other developing countries would increase by the same amount.

    • Beijing and other Chinese entities could buy fewer U.S. assets and not replace them by purchasing an equivalently larger amount of assets from other countries, so that net capital flows from China to the United States and to the world would be reduced.

    Pettis explains it all very well in the article at the link.

    #49547
    John Day
    Participant

    http://www.johndayblog.com/2019/09/political-changes.html

    ​I am re-posting a couple of Bernie Sanders stories that I sent out February 2016, when he was becoming a major threat to President Hillary.
    He’s still the Democratic candidate with the best chance of beating Trump. Everybody knows that, even the billionaires.​
    I’m including more on the proposed political framework of Murray Bookchin , “Libertarian Municipalism”.
    How to look geeky when getting arrested in Chicago in 1963, for protesting segregation. Yeah, Bernard Sanders demonstrates. (Hey, is that Bill Buckley with the cigarette and detached look of superiority?)
    http://www.chicagotribune.com/news/local/breaking/ct-bernie-sanders-1963-chicago-arrest-20160219-story.html

    Murray Bookchin was an Eco-Anarchist, really the prototypical Eco-anarchist, by the time he moved to Burlington, Vermont in 1971 to work with his commune on the nuts and bolts of how humans can live and work and eat together with responsibility to nature, so as to live sustainably and in harmony, without dominating each other or nature.1971 was probably the peak of that sort of post-scarcity (also his term) type of adaptation. You know how things were by Reagan’s second term, a lot damned different.
    Murray Bookchin (65 y/o @ the time) wrote this critique of a younger Mayor Bernard Sanders of Burlington in 1986, recalling the 1981 Sanders campaign which got him elected, and contrasting it with performance in office, which involved a lot of caving to wealthy people and their interests, and being accessible, still autocratic, though also fairly kind.
    He was not a Socialist. He had run on “Burlington Is Not For Sale”, and was mainly reduced to getting a better price for it.
    Sanders is older now, and Bookchin died 10 years ago at 85. We are all at a different phase of our lives than ever before. We’re moving into a world which is at least partly of our own making, and we have learned from experience.
    http://mosquitocloud.net/murray-bookchin-the-bernie-sanders-paradox-when-socialism-grows-old

    Here is Murray Bookchin’s Libertarian Municipalism in a nutshell, from Murray.
    Perhaps the greatest single failing of movements for social reconstruction — I refer particularly to the Left, to radical ecology groups, and to organizations that profess to speak for the oppressed — is their lack of a politics that will carry people beyond the limits established by the status quo.
    https://theanarchistlibrary.org/library/murray-bookchin-libertarian-municipalism-an-overview

    One of the stories below is real and one is humor. Which is which?​

    The Pentagon has declared war on memes as DARPA launches a new program to fight “polarizing viral content” before it spreads.
    ​ ​The Defense Advanced Research Projects Agency is seeking to create software with the capability to “automatically detect, attribute, and characterize falsified multi-modal media to defend against large-scale, automated disinformation attacks.”
    ​ ​The software will scan news stories, photos and videos to identify “polarizing viral content” and stop its spread to eliminate “malicious intent” entirely.
    ​ ​Titled Semantic Forensics, the program will run content through a myriad of algorithms to identify inconsistencies and identify a story or a meme as inauthentic or fake. The system will also pinpoint the origin of the meme, the intent behind it and predict the impact of its spread.
    ​ (​Given that the program doesn’t take into account the fact that so-called “trusted sources” in the mainstream media have been responsible for some of the biggest fake news stories in modern history, such as Trump-Russia election collusion, the software will only succeed in eliminating dissident narratives.​)​

    Pentagon Launches New Program to Fight “Viral” Internet Content

    HONOLULU, Hawaii — Congresswoman Tulsi Gabbard (D-HI) was surprised with deployment orders to Antarctica earlier today, her presidential campaign confirmed.
    ​ ​The Democratic presidential candidate has been a unique critical voice against American military imperialism, drawing national attention to the issue during the first two rounds of Democratic primary debates, much to the chagrin of foreign policy hawks on both sides of the political aisle…
    ​ ​Gabbard will be deploying to Antarctica within the week, and is expected to return next summer, shortly after the Democratic National Convention has concluded.

    Maj. Tulsi Gabbard receives surprise deployment orders to Antarctica

    #49549
    zerosum
    Participant

    What does it take to make the rulers to give up their power and control?

    https://www.zerohedge.com/news/2019-09-04/lam-unexpectedly-withdraws-hated-extradition-bill-hong-kong-stocks-soar
    Hong Kong’s Lam Unexpectedly Withdraws Hated Extradition Bill; Stocks Soar

    This change came at a very high cost. Millions of people. PERSISTENCE.
    Destruction of infrastructure. Loss of life. Destruction of individual source of income.

    Yesterday is gone.

    IT TOOK MORE THAN WORDS
    We are not alone
    https://www.theburningplatform.com/2019/09/02/demoralized-depressed-detached-defiant/
    DEMORALIZED, DEPRESSED, DETACHED & DEFIANT

    #49550
    zerosum
    Participant

    How to shut someone up in the greatest democracy on earth!!! /sac

    Congresswoman Tulsi Gabbard (D-HI) was surprised with deployment orders to Antarctica earlier today, her presidential campaign confirmed.

    “It’s unfortunate that Congresswoman Gabbard’s presidential aspirations have been thwarted by her upcoming deployment,” said Sen. Kamala Harris. “It will be difficult for her to have much of a voice in this election cycle while stationed at the South Pole.”

    #49554
    lasttwo
    Participant

    I don’t know if it is true about Gabbard it does not really matter. I know the DNC will not let her into the debates. She cannot speak to the forever wars without media coverage and cash. Disappointing and sad that our political parties are so rotten. The election is a long way off and all of these voices should have a place until the convention . But what do I know. I was a quality engineer and manager for years and there is an adage in quality that you will get the level of quality you accept. America seems to be asleep they will get the government they allow themselves to accept. The people in hong kong are brave they are not accepting . Where is our youth???

    #49555

    The Tulsi thing is the Onion, we get that, right?, or so I thought. I mean, we’re not that far gone, are we? Not sure that John got it. C’mon, do some reading.

    #49562
    zerosum
    Participant

    Opps! Got caught!

    Duffel Blog is a parody of a news organization, and all content it publishes is satirical in nature. No content should be regarded as truthful, and no reference of an individual, company, or military unit seeks to inflict malice or emotional harm. All characters, groups, and military units appearing in these works are fictitious. Any resemblance to real persons, living or dead, or actual military units and companies is purely coincidental.

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