Debt Rattle June 12 2020
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Gustave Dore Dante looks upon the negligent rulers 1868 • Here’s What Caused The Worst Stock Market Sell-Off Since March (F.) • Trump Admin. Wo
[See the full post at: Debt Rattle June 12 2020]Trillions of dollars at work for the 10% of people who own stocks
The Dow Jones Industrial Average fell 6.9%, nearly 1,900 points, in its worst single-day drop since the coronavirus sell-off in March. The S&P 500, which fell 5.9%,
Both the S&P 500 and Dow are still up more than 40% from their coronavirus low point on March 23.
huge gap between the economic reality and the market reality,
“Here’s What Caused the Worst Stock Market Sell-Off Since March (F.)”
Nothing. Because there are no markets. However, each day there is a one-way increases the pressure and the danger. Despite idiot commentators and politicians, Shorts are the system stabilizer. Without them, when markets fall, no one covers, no one buys. Enormous air pockets. So strangely the sellers force the buy. But this is by design as they’re about to scuttle and re-start the system.
Howso? Free money for unemployment, no taxes due, top control of industry, Fed owned by Treasury who owns stocks of all Business, and just now, a new initiative for national homelessness. Feds (that is, Indiana) solving California’s dismal 3rd world problems again. But anyway, why? Pure coincidence, I’m sure. You know, because they’ve been writing papers about how to do this since 1970.
“The Real Economic Catastrophe Hasn’t Hit Yet.”
No, but as there are no markets they will pull the plug and swap whenever they feel like it. Clearly.
“UK Economy Suffers Record Slump With GDP Plunging By 20.4% (Sky)”
Great proof that GDP isn’t everything. People are still in houses, eating food and drinking water, watching last year’s TV sets and driving last year’s cars. How happy or unhappy are they? Don’t worry about the spot GDP, the system is large and has a lot of stock and inertia.
Oh and if the virus is everywhere, Yay!!! It’s over. We’re done. You weren’t going to stop it, so where did you think we were going? But it’s not everywhere, is it? It still needs to stop some elections.
“US Virus Hotspots Reopen Despite Second Wave Specter (R.)”
They did manage to achieve the Political Nirvana: The worst of all worlds. We killed everyone via the economy AND we didn’t stop the virus at all. As predicted. We could have had only one, but we didn’t get to choose: the only way to have only one of two disasters was to keep the economy open, Utopians excepted, still nattering on about math and overcoming all human nature that has never happened in human history.
“Retired Generals Who Denounced Trump Could Be Recalled, Prosecuted (JTN)”
Or present Generals. Strangely this is true, and with good reason, although no one makes a big deal about it. You cannot incite to mutiny. Clearly that’s bad.
“Twitter Deletes Over 170,000 Accounts Tied To Chinese Propaganda (Hill)”
Should read “Twitter openly glorifies violence, with Jack Dorsey at the lead. Twitter is the world leader in (false) Propaganda.” But it doesn’t. “All cops should be killed” page is wide open and approved, as were Al-Q and ISIS back in the day. “Hey let’s discuss this” says black conservative is banned. Told. You. So. Stop supporting them and playing on your enemy’s turf. Enemy as in “The Enemy of Free Speech and all Human Rights.”
“Among many things, Russiagate pushed Democratic Party further to the right;”
And may get him re-elected. Thanks Democrats! Your failure to go after his REAL faults and crimes instead has been the greatest gift one could give. Grab your check on the way out.
“Obama Retread Sees Moscow’s Hand in Protests (Giraldi)”
Hey, weren’t those the guys that started the open-air slave market in Libya? And now work for the media without being discredited in the least, either they or NBC? They should be so proud. We should DEFINITELY believe them on all things concerning Black oppression and human rights. The only thing better would be is they opened TWO slave markets! Wait: they did, the one in Ukraine is running briskly, and I wouldn’t look at any other place they were “Helping” like Sudan, the Mexican border, NYC garments, Apple and Nike… They just love slavery, I guess. Since Andrew Jackson, nothing changes.
“Flynn Case: 85 Lies, Contradictions, Oddities, and Unusual Occurrences (ET)”
I do not find that suspicious at all. Nor when the Judge also becomes the prosecution who walked out for lack of evidence. Nor that the people the Judge hired to be his self-directed prosecution are witnesses and participants in the crime. Ms. Yates. Nope! American justice at work!
…Since it’s okay to wiretap, harass and arrest opposition candidates now, can we wiretap Biden and everyone he’s talked to? 85 times? That’s democracy now, right? Funny ’cause it seems like Republicans are the only ones against it and they have the most to gain.
“whose career in jazz was destroyed by McCarthyism during the 1950s witch hunts.”
Like everyone who is standing up against the National Socialists, on-line book-burning, and the neoMcCathyism of being “Racist” and “Far Right” today. History always comes around. Ask yourself: if you’re against investigations, books, speech, self-defense, due process, if you’re against law, for riots, for violent street safety groups roaming the streets in black, if your first question in any joke, movie, or conversation is “what is their race?” and not merit, if you are for violent wars of expansion against Russia, Syria, Libya, if you think it’s good and right to punch anyone you don’t like without any investigation or process, to shout down, harass, get fired, anyone who disagrees with you, firing bullets and fireworks at their children, if you have ever read the history of the 1930’s, perhaps you may ask yourself, “Are we the baddies here?”
Nah. Just keep up your arson, violence, slandering, race-fascinated, color-judging, book-burning, people-destroying ways. ‘Cause that’s peace and tolerance! That’s true love and diversity!
Love of the ego above all. Peace only when we have the justice of every. single. person. being only like me and doing exactly what I say before I say it. When tomorrow I change: they must change instantly, or die if they’re lucky. Probably I’ll just make something up, falsely slander, McCarthy, and kill them anyway. Yay me! Go me! Burnin’ books and killin’ folks, there is no greater love.
“I am genuinely appalled at Powell in Q&A saying The Fed is wilfully ignoring the financial bubbles they are creating. I thought after the 2001 NASDAQ and 2008 housing debacle they would have learnt that when these bubbles burst it makes the recession much worse. Utter morons”
I used to think like albert edwards….. but it all makes sense if you understand this is about power and nothing out. If the market has price discovery and debt is wiped out, those who rule us lose power. We can’t have that, better to make life worse for the masses until they force our hand
The DNC seems determined to get Trump re-elected. The saddest thing about having two incoherent candidates at the top of the tickets is that I think they understand each other.
The dead horse that is Russia-gate was too tough to swallow- even for those who are going to have to eat it, so they must keep beating it until it is tender, I guess.
NYC Blues
The words create fear. The fear creates stress.
The stress leads to symptoms. The symptoms progress.So he took to his bed, where his ailing increased.
He went to the doctor, and now he’s deceased.Name a country where voting/elections made positive changes in the lives of common people?
Name a country where the common person is happy with the result of the voting.
Why are there always elites unsatisfied with the results of the elections?My garden is too small to feed me for a year.
Glenn Greenwald: The Abrupt, Radical Reversal in How Public Health Experts Now Speak About the Coronavirus and Mass Gatherings:
“Remember the coronavirus? That was the pandemic which we were told by public health experts since February was so grave — the worst public health threat since the 1918 Spanish Flu — that we could not go outside for any reason, even if it meant a collapse in the global economy, tens or hundreds of millions of people suffering from unemployment, the permanent shuttering of small businesses, sustained mental health damage, and the separation of people from their loved ones and communities, including barring them from visiting dying spouses and parents and children in the hospital or even attending an outdoor burial.
So dogmatic was the dictate that we all stay at home that any attempt to question or even balance it — by, for instance, arguing that the harms of the virus had to be weighed against the suffering from an economic shutdown and a global depression — was deemed immoral. Those who questioned state-mandated lockdown and stay-at-home orders, let alone left their homes to actually protest against them, were condemned as sociopaths who were willing to sacrifice the lives of old people for economic prosperity or the trivial, troglodyte desire to go to Applebees. Oftentimes those protesting lockdowns were vilified as white nationalists or at least driven by white racialist sentiments (sometimes they were that, but often they were not)..”
Interesting how Greenwald and so many commenters can see this, but some sites can’t..
-Bill7
That kinda talk will get you erased from commenting at NakedCaptialism. I wonder if they got extra money not to break narrative from a mysterious source. I generally only went to the site for the comments, and honestly i find Yves Smith overall attitude and demeanor to be elites and smug. She knows everything, dontcha know.
@ Mr. House: Yes, I sure know what you mean. That place has become merely an echo chamber of the Official Narrative..
Zerosum:
Lol! You can’t expect your garden to feed you if you have 6 little bunnies sitting at the dinner table too!
Donating to BLM = Joe Biden!
I just discovered this little gem.
If you donate on the Black Lives Matter website, you are taken to an “ActBlue” website which then takes the donation and then turns around and quietly gives it to Joe Biden! Of course they don’t tell you that! Instead you are left with the impression you have donated to BLM! Sneaky, eh!
That explains the Dem’s Nancy and Chuck wearing slavery cloths and taking the knee to support BLM! Donations to BLM is a huge money maker for the Dems!
That also explains why the Dems have been quite content to let police stand down and watch the BLM rioters burn inner cities down.
Yeah, they really care about poor black people, targeting their neighborhoods to be destroyed by their riots, so they are even worst off than before! That must be part of their long term plan, to keep blacks down on the burnt out plantation!
That also explains Joe’s statement that if you don’t support him, “you ain’t black”!
Color me cynical!
Zerosum:
I see BC had no Covid-19 deaths today but sadly had 170 overdose deaths in May.
I doubt Ontario is any better.
We have multiple deaths in both columns.
One rarely sees anything in the media about Ontario, just other provinces.
WES
Yep!
The new finally got around to letting us know what people are dying off.
They quietly slipped in the fact that the death are not all happening in the homeless community.Next week, the temp should be up and the rain should stop.
Know:
Your comment about beating the Dem’s RussiaRussia horse to death, reminded me of my stay in Siberia in 1983!
I can still hear, from the third floor, our Russian cook, on the first floor, repeatedly beating the grass fed beef, we were to eat, with a square metal dimple hammer, to tenderize it!
Bill7:
The Dems supported the lockdown and extending the lockdown, because it would hurt the economy and President Trump.
Suddenly switching their support to BLM rioters, is because they are getting huge donations at their BLM website which they then funnel to Joe Biden!
For the Dems, It is all about the money now!
Interesting for sure WES, but I think you’re missing an integral part of the story. The Dems don’t need the BLM money, they have all the money they need, what they don’t have is a viable candidate. What they really want is control over the money, it’s about power. And BLM is not an organization, it has no bank account, so it was very easy to take over and impose conditions on what does get paid to actual protesters. But yeah, they’ll do a 180 from lockdown to open protest whenever they think they can get to Trump. Just like the MSM does. I can’t imagine that not backfiring.
Raul:
Talking about a Dem 180, it is OK to have Antifa and BLM protests and riots!
But not OK for President Trump to hold campaign rallies due to Covid-19!
And yes, it is all about power!
Glenn Greenwald seems to be an extremely nice human being. His journalism aligns with my values, especially his emphasis on our collective cruelty to the hon-human animal kingdom.
But he’s a fucking journalist. Ick. (Relax, Raul. I don’t think of you as a journalist even though you generally write about current events and write generally better prose expressing more accurate data and wiser opinions than most journalists including Greenwald.) Journalists are major suckers, wittingly or unwittingly, for the false dichotomies that comprise the bulk of journalism and associated analysis. For example: whether or not the previous lockdowns were justified by covid-19 or not does not necessarily relate to the media bloc’s decision to switch gears and primarily sell Black Lives Matter protest reports/analysis rather than its previous obsession with covid covid covid.
Likewise, the fact that some of the recent media releases by medical associations have about-faced primarily demonstrates their ability to about-face, not the validity (or lack thereof) of their previous positions, which were hardly in lockstep from day one. Conflicting opinions and advice about covid, from the WHO to the White House down to your local doctor’s office, have been rife from the start.
This quote from Greenwald’s article — “So dogmatic was the dictate that we all stay at home that any attempt to question or even balance it — by, for instance, arguing that the harms of the virus had to be weighed against the suffering from an economic shutdown and a global depression — was deemed immoral” — is fluff. Dogma-as-propaganda wants some consistency, and some universal application, to justify the name ‘dogma’. We had no such over-arching dogma, again, from day one. For example: the messages that masks won’t help/masks are de rigeur have shared roughly equal prominence since, again, day one. For example: Some areas were quite insistent on lockdown. Others were lackadaisical bordering on ignorance and apathy (‘we don’t know/we don’t care’).
But Greenwald is a journalist, and journalism as practiced for quite some time is primarily a blame game interspersed with praise for the hero of the week. A carrot’n’stick game based on the specious notion that watering down the truth to suit a squeamish audience’s preference will somehow raise that audience’s taste for less adulterated truth. It’s the same logic as voting for the lesser evil. Pandering and propaganda are major Venn overlaps.
Of course, a globally corrupt kleptocracy will manipulate any event to its perceived advantage. It’s what kleptocracies do. That doesn’t mean it manufactured the event or understands it or even cares about it. Conspiracy theories are based on a desire to assign blame as much as they are based on a desire to know the truth. When the truth fails to provide a sufficiently clear target to blame, which is usually the case because a) it’s a complicated society we live in with more smoke’n’mirrors and hidden passages than a carnival funhouse, and b) the truth generally blames we the people for being complacent conditioned chumps more than our complacently conditioned chumpitude wishes to acknowledge, we generally opt for the theory of our most comforting choice: blame anyone but ourselves.
The people remarking “journalistically” on the virus who mean a shit to me are folks like John Day, who especially uses his platform of relative medical expertise to provide useful methods for not getting seriously ill from the virus, or Raul, who uses his years of deep news analysis, knowledge of certain fields, and willingness to wade through gobs of data, to provide us with reasonably coherent patterns from which to seek understanding.
John speaks to the individual, primarily, giving them info to protect themselves first, and then offering analysis on large patterns like global pandemic, economic collapse, and evil cabals.
Raul speaks primarily to the group, not letting himself be swayed by mere political aspects (viruses don’t vote, after all) while he helps us understand these large patterns through centuries-old proven methodologies and models. Especially, in this case, good old preventative quarantine.
Protests against police run amok, especially along USA’s classic white-on-top vs. black-on-bottom racially bigoted template, have been going on for some time before covid. Things like nationally televised murders by a constabulary empowered and trusted to serve and protect, not oppress and murder, will of course break through fragile things like a piebald quarantine unequally applied or understood (a quarantine in practice that has been about as good at containing contagions as using nylon stockings to carry water), and resurrect the ongoing civil discontent fomenting civil disobedience regarding the modern USA police state. The society was collapsing before covid. No lousy pandemic’s gonna stop that momentum. Just cuz a buncha folks are sick with something awful won’t fix the busted municipal water system that gave them cholera in the first place.
The media will naturally turn its gaze from covid onto this “new” protest thing if only because covid was no longer selling enough ads. For example: TAE, both Raul and readers, has been squirming to find something more interesting and understandably relevant, than the past 3-4 months of all covid all day. The patten has been obvious for weeks.
Whatever our kleptocratically controlled media decides to do with this public/market-driven change in attention spans/topics is whatever it decides, and is not necessarily driving but, more likely (if history is any guide), riding the narrative gestalt for whatever psychopathically callous reasons that motivate kleptocratically controlled media.
Meanwhile, there really is a global pandemic of a weirdly atypical flu, the numbers keep rising overall, and the fact of the sickness itself will eventually (barring a miracle) intrude itself foremost on all the entities currently intruding themselves onto it mostly to try and get a free ride.
It is a deep sin for me to wish the following, but the truth is that I can’t wait to hear about someone busting someone, who is braying about global conspiracy virus et al yadi yada, in the chops. Not that it is or isn’t part of this or that global conspiracy but because there comes a time when we either deal with the thing effectively or it deals with us.
(And that, folks, was EXACTLY 1K words, not by design but happenstance, and I declare that a miracle, or maybe even the product of a global conspiracy.)
We are a bunch of elites ivory tower blogger stalkers saying much but I doubt that we are able to influence the wheel of the social/economic system.
That’s okay with me.
Maybe, our writings will survive and be debated by future archeologists.
Just like us, I’m sure, that during their time on earth, the greek philosophers had very little impact on the common man and the slaves.
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