Debt Rattle February 12 2020

 

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  • #53853

    Dorothea Lange Daughter of white tobacco sharecropper at country store. Person County, North Carolina 1939   • China Reports 97 New Deaths, 2,059
    [See the full post at: Debt Rattle February 12 2020]

    #53854

    Roger Stone lied to investigators about his ties to WikiLeaks, which never existed, and WikiLeaks’ ties to Russia, which also never existed. He then asked his buddy Credico to corroborate his ties to WikiLeaks, and when Credico said no, he threatened to kill his dog, something Credico laughed away.

    How does that add up to 9 years in jail? It doesn’t. It”s just that there’s still a huge vested interest in maintaining that Assange was linked to Russia. Which is nonsense, but Assange can’t defend himself, and Russia can’t be bothered.

    I was wondering, if I tell the police that I murdered someone, or I claim to know and have intimate knowledge of someone who murdered someone, but the alleged victim is alive and well for everyone to see, what sentence would I get?

    I see CNN heads up in arms over the perversion of justice here, but where is that perversion exactly? Is it Bill Barr or those 4 prosecutors and those they represent?

    Asking for a friend.

    (And yes, Stone’s a sleazebag, but the Podesta bros and Rahm Emanuel are walking around free, and DC is full of such people, always has been. So why him, Who Framed Roger Stone?)

    #53855
    Enginer
    Participant

    Kunstler Article – Wealth vs Karl Marx
    This constant hammering on populist issues without updating what Marx said, nor examining what brought the razor to the French Revolution is just smokescreens and mirrors.
    Our modern emphasis on kleptocracy, where the representatives of the people accept election money from the power structure to keep the rent slaves in subjection is absolutely no different than what Karl was concerned with. The foolishness of swinging wealth onto the 0.1%, the 1% or the 10%, while hanging the debt on the lower 90%, never, under “MMT” to be repaid is beyond comprehension. It is not what the Founding Fathers intended.

    It cannot continue.

    #53857
    John Day
    Participant

    Not meaning to offend anybody here, I am interested in New Hampshire results, as Lloyd Blankfein and Hillary Clinton’s Democratic ubermenschen scramble for new software to block Bernie.
    History is teetering on newly-christened COVID-19. If virus goes global, which seems likely, but not certain, then the precariat needs central support in health-care, food, utilities, everything, and right away.
    When might that dread wash over the middle-aged-middle-class?
    Right now, support for Bernie Sanders among voters is inversely proportional to age, because investment in the current system is directly proportional to age, and holders of the investment do not want to lose their holdings. https://www.vox.com/policy-and-politics/2020/2/12/21134454/new-hampshire-primary-results-sanders-young-voters
    Most who read comments here know that those retirement accounts full of IOUs are never going to be paid at more than a small fraction, but most pre-retirement folks assume the promises will be almost-good, like we have seen up until now.
    We will need public-health-for-all, and it already exists more than people know. Hospitals must admit people who need critical care, and the government reimburses them. There are still tuberculosis hospitals. Got HIV , Syphilis, Chlamydia or Gonorrhea? Walk right in…
    Right now, Trump’s border wall plays well to his position, and that effect is barely beginning. However, if global finance tanks, despite central bank printing, the contagion will be inside those walls, so to speak.
    I opined yesterday that Sander’s whole plan fits right into a financial crisis, and nobody else is presenting something that does. Public work, Medicare for All, living wage, Green New Deal, etc. This supports the 90%, and the 10% will suddenly find that they need help this year, also.
    It’s all timing and inflections as to how this history plays out going forward, but Bernie could be surfing this swell just right. Again, Ill say that his strongest running mate would be Tulsi Gabbard, who would totally have-his-back, in a way he could trust, and so could we all.

    #53858
    zerosum
    Participant

    PETRI DISH
    THE AUTHORITIES ARE NOT DOING A PROPER TEST.
    • Japan Cruise Ship Virus Cases Jump To 175 (R.)

    About 3,700 people are on board the cruise ship, which usually has a crew of 1,100 and a passenger capacity of 2,670. Health Minister Katsunobu Kato said in parliament that he wanted to expand testing to all passengers and crew on board, and that authorities could muster resources to do more than 1,000 tests a day, according to national broadcaster NHK.

    People who test positive for the virus are taken off the ship to hospital.

    About 80% of the ship passengers were aged 60 or over, with 215 in their 80s and 11 in the 90s, the Japan Times newspaper reported.

    ———
    GREAT NEWS …someone that has a friendly banker will become very rich buying low
    • China Home Sales Crash In First Week Of February ‘Worse Than SARS’ (ZH)
    ——-
    whistle-blower
    I prefer the name of TRUTH TELLER
    What happens to TRUTH TELLER
    Therefore, what makes you think that The Automatic Earth will survive the purge.

    #53859
    Doc Robinson
    Participant

    Subprime Auto Loans, Serious Delinquencies Soar. These Are the Good Times (WS)

    Car payment calculator
    What’s your credit score?
    Subprime (501-600)
    Based on your score, the average rate is 11.89% (new) or 16.14% (used).

    No sympathy for the banks, they set the interest rates high enough to make a good return, despite the defaults.

    #53860
    neoh
    Participant

    I agree John Day. Being a formerly consistent Democrat voter in flyover land (abandoned the party after Obama’s first term. TAE’s article from Rolling Stone a few days ago describes me), I would vote for anything Gabbard on the ticket. And so would many of my fellow deplorable that voted for Trump.
    But the DNC doesn’t get it so I and millions of others will vote Trump again (gag).

    #53861
    John Day
    Participant

    @ Neoh,
    I’ll vote Green again if the Democrats present a non-Tulsi ticket. Anybody but Tulsi as VP means Sanders gets Akancided.
    Bernie is OK for the stage we approach, and The Donald F…ing things up for immediate gain may paradoxically have been just what history needed.
    Tulsi Gabbard as POTUS would actually mean things had changed enough to have hope and work together for it.
    We ain’t there yet.

    #53862
    John Day
    Participant

    Here is some light entertainment as we all wait to see what happens next on so many fronts.
    http://www.johndayblog.com/2020/02/swimming-under-water.html

    Survival rates being over 95%, we can probably agree that most people who drink cow urine for COVID-19, or plaster themselves with fresh cow dung, will get over the virus, but…
    India’s Leaders Claim Drinking Cow Urine Will Cure the Coronavirus
    https://moneymaven.io/mishtalk/economics/india-s-leaders-claim-drinking-cow-urine-will-cure-the-coronavirus-6YI-eD9GQU-adQ9ZHVblQg

    The political left is adrift, without a compass or star to follow, having abandoned support for working people as a class.
    It is sick with it’s own progressively disfiguring disease.
    How Privilege and Woke Politics are Destroying the Left

    How Privilege and Woke Politics are Destroying the Left

    Little red rooster of the financial elites, former Goldman Sachs CEO tweets in favor of continuity for his pals.
    Lloyd Blankfein is (somehow) a registered Democrat, and supported Hillary Clinton enthusiastically in 2016.
    “He’ll Ruin Our Economy”: Lloyd Blankfein Warns “Russians Will Reconsider Who To Work For” If Sanders Clinches Nomination
    https://www.zerohedge.com/political/hell-ruin-our-economy-lloyd-blankfein-warns-russians-will-reconsider-who-work-if-sanders

    #53863
    anticlimactic
    Participant

    DEMOCRAT VOTING

    If they want to send the results electronically then a simple text message would be sufficient. The texts could be shown to the candidates’ representatives before sending, and copies sent to all candidates.

    At headquarters all the results would be fed into a simple spreadsheet :

    Candidate / voting area / votes / delegates.

    It just doesn’t seem that complicated!

    #53864
    zerosum
    Participant

    The virus is still not traveling by private jet.

    https://www.msn.com/en-ca/news/politics/trudeau-in-senegal-for-final-african-stop-of-un-security-council-campaigning/ar-BBZT33D?li=AAggFp5

    Trudeau in Senegal for final African stop of UN Security Council campaigning
    Trudeau completed a whirlwind visit to Kuwait earlier Tuesday where he met with the country’s head of state, Emir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah.
    His trip ends Friday at a security conference in Germany.

    #53866

    Okay, I’ll play a little. A graph from Oct 8 2019, 4 months ago. Click for larger version in new window.

    Biden and Warren lead by a wide margin. Sanders in consistent 15% middle ground, Buttigieg and Klobuchar nowhere. I san see why Biden sank, Warren to a lesser extent, but I see no other explanation for Buttboy and Klobuchar’s sudden rise than huge amounts of money or dirty work. Neither has anything to say, they have no recognition factor, they have no policy proposals. Does anyone have an explanation that is not money and/or DNC manipulation of apps and tools? And does anyone think Sanders should run for a party where this sort of thing happens (including Tulsi’s exclusion)?

    poll

    #53867
    zerosum
    Participant

    ” Does anyone have an explanation ….”
    An argument could be made for …..
    Lies!
    Gullibility!
    Ignorance!
    Apathy!
    American!
    Rif-raf!
    Poverty!
    Revenge!
    Weather!
    Flue!
    Trump!

    #53868
    sinnycool
    Participant

    So it’s looking like a tacit agreement among nations then, to add the costs of COVID-19 on human individuals to the costs of BAU.

    Looking at the rapidly growing emergence of virus and bacteria taking advantage of their golden age of host abundance means it really doesn’t matter much whether this instance was human engineered or not.

    Chump change in the BAU cost tally…

    The 6th great extinction plus insects – ever more destructive climate – wild fires – ocean acidification – food and water insecurity for billions – economic peril including inequality – global conflict – the rise of the surveillance state – nothing matters and anything goes democracy – loss of the rule of law – your entries go here – coronavirus.

    As if a virus was ever going to get in the way of Human Progress!

    #53869
    John Day
    Participant

    China let a weeks worth of viral cases and deaths out of the bag today, and so is back on track on the fudged quadratic rise in cases, still lower than the almost certainly higher exponential curve described b y Ben Hunt at Epsilon Theory. https://www.zerohedge.com/markets/china-reports-huge-jump-new-coronavirus-infections-deaths-oil-stocks-tumble-gold-soars

    #53870
    Doc Robinson
    Participant

    There are currently 60,373 confirmed cases and 1,369 deaths from the Wuhan Novel Coronavirus (2019-nCoV) outbreak as of February 13, 2020, 03:50 GMT

    If you focus on the worldwide reported “Cases with Outcome” (outcome being either Recovered/Discharged or Death), then the mortality rate is 18%.

    There are currently 60,373 confirmed cases and 1,369 deaths from the Wuhan Novel Coronavirus (2019-nCoV) outbreak as of February 13, 2020, 03:50 GMT… “Total Cases” = total cumulative count (60,373). This figure therefore includes deaths and recovered/discharged patients (cases with an outcome). By removing these from the “total cases” figure, we get “currently infected cases” (cases still awaiting for an outcome)…

    Currently Infected
    52,972
    Mild Condition
    44,753
    (84%)
    Serious or Critical
    8,219
    (16%)

    Cases with Outcome
    7,401
    Recovered/Discharged
    6,032
    (82%)
    Deaths
    1,369
    (18%)

    https://www.worldometers.info/coronavirus/coronavirus-cases/

    An alternative method, which has the advantage of not having to estimate a variable, and that is mentioned in the American Journal of Epidemiology study cited previously as a simple method that nevertheless could work reasonably well if the hazards of death and recovery at any time t measured from admission to the hospital, conditional on an event occurring at time t, are proportional, would be to use the formula:

    CFR = deaths / (deaths + recovered)

    which, with the latest data available, would be equal to:

    1,369 / (1,369 + 6,032) = 18% CFR (worldwide)

    If we now exclude cases in mainland China, using current data on deaths and recovered cases, we get:

    2 / (2 + 76) = 2.6% CFR (outside of mainland China)

    The sample size above is extremely limited, but this discrepancy in mortality rates, if confirmed as the sample grows in size, could be explained with a higher case detection rate outside of China especially with respect to Wuhan, where priority had to be initially placed on severe and critical cases, given the ongoing emergency.

    Unreported cases would have the effect of decreasing the denominator and inflating the CFR above its real value. For example, assuming 10,000 total unreported cases in Wuhan and adding them back to the formula, we would get a CFR of 7.9% (quite different from the CFR of 18% based strictly on confirmed cases).

    https://www.worldometers.info/coronavirus/coronavirus-death-rate/

    #53871
    WES
    Participant

    Any numbers being reported by China can not be believed. Same for China’s pariot, the WHO of guess who bought us lock, stock, and barrel!

    Correcting these figures requires adding a zero at the end and then multiplying by your favorite fudge factor number between 1 and 9!

    So deaths to date 1300 x 10 = 13,000 x 5 = 65,000! Seems more believe able!

    #53872
    WES
    Participant

    Democrats after confining President Trump in an illegal strait jacket from before becoming President up unitl just recently, a period of over 3 years, shouldn’t be surprised if the recently escaped President is suddenly hitting them back! Just seems to be a normal human trait!

    I wonder what Obama would have done? Likely would have hit back Chicago style!

    #53884
    sinnycool
    Participant

    The thing I love most about the updated Chinese figures is the unexplained increase in death count.

    Occam suggests they were so rushed by trying to figure out how to rework their numbers they forgot to invent a changed diagnosis-of-death criteria. Perhaps they just forgot to tell us they did a ring-around of the local crematoriums for a head count.

    Either way they have turned a shocking situation into a risible farce.

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