Debt Rattle March 21 2020
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March 21, 2020 at 11:04 am #55682Raúl Ilargi MeijerKeymaster
Dorothea Lange Ex-slave with long memory, Alabama 1937 • Coronavirus – Getting Angry (John Bronte) • China Is Avoiding Blame by Trolling the Wo
[See the full post at: Debt Rattle March 21 2020]March 21, 2020 at 11:35 am #55683V. ArnoldParticipantWelcome to Thailand Steve Keen; love your work.
Excellent choice to come here; and great timing…and a great, inexpensive, health-care system…
Let me know if I can help in any way. I’m a 20 years self exile..and still loving it…March 21, 2020 at 11:40 am #55684boilingfrogParticipantLarry Kellner, Chair of the Board at Boeing (and president of a PE group). Nice! Expecting lots of changes – not!
“Kellner currently serves as President of Emerald Creek Group, LLC – a California-based private equity firm primarily focused on real estate and chairman of The Boeing Company.”
March 21, 2020 at 2:09 pm #55685boscohorowitzParticipantCall me confused, but I’m a tad surprised, and maybe worried, that today’s USA West Coast google news feed doesn’t have mention of the malarial drug/antibiotic therapy results. Call me crazy, but I’d thought the news would ricochet around the world as good news.
Seeing how Trump’s approval ratings have soared when any reasonable evaluation of his performance would want him out yesterday and someone comeptent, maybe the ghost of Bubbles the Chimp, in his place.
I’m a fine rational critical thinker. I can hold my own with the best of them for the most part. I am also a deeply emoptional person well in touch with a perhaps hyperactive creativity driven by intense sensitivity.
It gives me a blind spot between the two zones, and today seems to be in that blind spot. I rather dislike reflexive paranoia (‘the media is suppressing the news!) but it’s either that or the media is too stupid to recognize good news even when it has reported it. (does a general search, and sees that bubble passed through journalism’s perforated bowels several hours ago in major brand name news rags)
The coffee kicks in, and my brain says: ‘Sensationalism sells, you old goat. Major lockdowns and people holding toilet paper cargo cult deliverance seances are more interesting than the seemingly solid news that a simple old drug that one presumes is easily manufactured on broad scale in short order, can cut in half the recovery time and cure all but the very worst cases.
I don’t know if I shared this video before. I include it here primed to play during a comedy interlude that relates to the times well. Plus my son is one of the skaters, and the video is the best skatew vid I’ve seen: elegant, street-evocative, and some excellent “skate flow”:
Alex Cooper Makes Great Videos
SInce our robots are increasingly deranged or rebellious, the vid probably won’t open where it’s supposed to (“the majestic crane”), which is at 3:27.
March 21, 2020 at 2:10 pm #55686Doc RobinsonParticipantThat Worldometer chart (above) shows that the UK and US both have 59 cases per million population. However, the number of deaths as a percentage of total cases is quite different for these two countries: 1.3% for the US, and 4.4% for the UK.
In other words, the death rate in the UK, as a percentage of total cases, is more than 3 times the death rate in the US. Perhaps this could be explained If the US was testing more and identifying more (mild) cases, but this chart (from Ilargi, above) shows that the UK is testing a lot more of its population that the US.
March 21, 2020 at 2:15 pm #55687₿oogalooParticipantVery disappointing to see the Americans try to cast blame on the Chinese. Yes, the Chinese tried to downplay this in the beginning as they scrambled to try to get it under control. But when that failed, their scientists sequenced the virus and made that information available to the whole world so that other countries could immediately develop their own tests and start preparing for the virus. And they also published many papers on a rushed basis even without peer review — that’s how we found out about chloraquine. And even though their recent statistics are quite dubious, the early statistics still showed an exponential curve and a very contagious virus. And we all saw the videos of the hospitals going up in a week, which should have set off alarms. In sum, the US had plenty of information early enough to respond, but instead chose to ignore and downplay the threat. The US elite chose to prioritize not spooking the stock market, rather than to prepare of a potential pandemic. Even though behind closed doors they knew the magnitude of the threat. The US has nobody to blame but itself for f***ing up its response.
March 21, 2020 at 2:16 pm #55688boscohorowitzParticipant“But when it was Fauci’s turn to comment, the National Institute of Allergy and Infectious Diseases director said that while he shared the president’s positive outlook, the drug still needs to be tested specifically for coronavirus efficacy — echoing FDA chief Stephen Hahn’s comments the day before.
“What we don’t know … is whether it’s safe. I like to prove things first,” Fauci said.”
from this article.
Safe? SAFE?!? It’s old as the hills, been used since Christ first got laid, scored extremely well in its first trial, and they want to wait until it’s safe? SOmeone drop a pallet of toilet paper on this miscreant licker of dog dicks.
But then, look at the guy:
There’s gonna be blood.
March 21, 2020 at 2:18 pm #55689boscohorowitzParticipantMost of the people here disparaged the Chinese for being part of China, which is seen too much as part of the Communist party rather than a 3K-plus arc of historical continental/ethnic identity.
They make us look like special ed kindergarten.
March 21, 2020 at 2:36 pm #55690zerosumParticipantbullshit
I’ve been lied to all my life and did not know it.
I’ve been manipulated all my life and didn’t know it.
10%, 3%, 0.01%
At my age I’m close to 100%
My doctor tells me that there exist medication to make the passage into the after life pain free.• Coronavirus – Getting Angry (John Bronte)
• China Is Avoiding Blame by Trolling the World (Atlantic)
• From ‘Chinese virus’ to ‘Trumpandemic’ (RT)• Cuomo Orders New York Lockdown, Shuts Down Non-Essential Businesses (NYP)
• Cuba’s Interferon Alpha 2B, Successful in Treating COVID-19 (TeleSur)
• Pentagon Sends 2,600 Europe-based Personnel Into Quarantine (RT)
The maids will cough and make everyone sick.
I guess war on the virus is not really a proper war.
Bring the troops home to keep the population under control.• Boeing Suspends Dividend, Halts Buybacks, Stops Paying CEO And Chairman (Y!)
Of course that’s just the way our society is structured.
There’s no proof of wrong doing – ask any senator profiteering• National Guard Chief Denies Rumors Of Martial Law Response To Virus (Solomon)
Again, We at TAE know … Bullshit
March 21, 2020 at 2:38 pm #55691Dr. DParticipantIf you missed it yesterday, 8.1 Million cell phone accounts are missing in China.
“Beijing has helped the US buy time in its efforts to combat the coronavirus by providing “timely information”
Timely and also entirely false, while paying the WHO to make sure it stayed false, and the maximum number of flights to the U.S. could occur. With help like this… But what am I saying? It’s always governments “helping! Helping so much!” But there’s an answer: more government help!
“China has been accused of suppressing information in the early stages”
Well, let’s see, they keep pushing back patient zero to October, and locked up all the early-warners in jail. Is this really just an loose “accusation” from the pandemic creator-in-chief? Me no think that will fly.
“We hope that the United States will respect objective facts,”
We are. That’s why we know you’ve been lying for 16 critical weeks, putting the world in fatal danger. We’re not mad at it happening, although we probably should be: we’re mad at you putting everyone else in danger for petty politics.
“shirk its responsibility to China,”
We have a responsibility to China? When did this start? Where was their responsibility when their mercantilism caused 20% unemployment and 30,000 opioid deaths a year?
“Trump argues that the phrase “Chinese virus” is “not racist at all,”
Meanwhile, in looking-glass world of Yale, a reporter genuinely and honestly took actual time to ask Trump – in the middle of a self-declared “war” – whether he believed calling it “Chinese food” was racist. Only when he says it of course! Because the rest of us use the term…well, I’m at a loss to even IMAGINE a term we could use instead for “Food as it comes from China”. And if a measles come from Germany, we call them the what measles? And if the virus comes from the Hantan River in Korea we call it the Hantawhat virus? And if the flu is from Hong Kong, we call it the what flu? And if it’s from Wuhan, China, we call it the — well, I wouldn’t know, since the NYT and Wikipedia have erased those search terms from their web sites. No joke.
…Because that’s the bestest, most important thing to do right now, virtue signal about what we should call Kung Pow Chicken. Definitely DEFINITELY don’t go down and volunteer at the hospital or food bank or anything.
If only stupidity were a fatal illness, the whole press corps would be in intensive care. Unfortunately, it’s also communicable. But by all means, please waste all our valuable time with your ignorant, infantile questions and problems while the adults are dying.
“And if everything we do saves just one life,”
This is the liberal ethos, where we kill the 99 to save one. Apparently they’re just that bad at math. I would like to save one, but I won’t kill five to do it. I’m not a Utilitarian, but I’m no dumb either. Anyway, it’s already too late. We’re going to kill not 99, but many multiples of one because of the economic reset. But that was coming anyway. In the meantime, let’s see how many thousands he can kill trying to save that one.
“ New Best Friends:”
Since they’re all aligned on dictatorial power merging corporation and state, I’ll take a pass on this one. It works well at first, not so later on. Call me in 5 years if you think this was a good plan, when there’s no opposition to President Pence.
“ Trump’s Approval Rating Soars During Handling Of Coronavirus“
This is alright, they’re probably just catching up to the reality that he’s just an average douchbag and not Hitler. Too bad the world had to end for reality to club them raw and senseless into that awareness. However, we don’t need any one-party systems. Thanks to them, the DNC leadership breathless for a barely-conscious Biden, we’re getting one. The Liberal boards are like, “I’ll never vote for Biden (or any NeoLib), and I’m so disgusted I might vote for Trump just to screw them.” Ouch. So…a one-party system is the answer? We were barely above zero on the uniparty system we had, don’t make it worse.
His response is boring, barely average, and he’s still lying daily with the CDC and WHO. I understand that, but it’s still a fail. I just sound like I’m pro because – four years in a row – I have to challenge the psychotic unhinged conspiracy theories that try to re-write events that happened only days, hours ago, Im a sucker for the #Truth like that. Tim Pool just did a video on this, blast from the past, like Jan 30th, when the whole media piled on his having ANY response, and parroting like they were guzzling Chinese…but this is a family show. It’s enough to point out that the media was wrong, put millions in danger, didn’t care then, and are lying about it now. Statistically least trusted of any source on earth for COVID? The media. Our supposed informers. And yet they’re salty about it! We trust random cartoons on Faceboom more than you and the experts because those random cartoons were more accurate that you. How bad do you suck? How dumb/clueless/complicit do you have to be? P.S. learn to compose sentences and call sources on the phone.
“[Biden] listed a litany of false and misleading statements”
Sadly this is true. AND his response WAS cut-and-paste Trump’s response. Mostly because it’s obvious and there aren’t a lot of choices here. SMDH. What are they thinking except – and the Whooooooooole Left points out – they’d rather have Trump than any Progressive. 1,000x But why not? Apparently Trump is now to the Left of Clinton/Biden on stimulus, bailouts, foreclosures, and since he’s a Clinton Business Democrat, always has been. Remember when Obama sent those checks and said we wouldn’t foreclose and we’d take equity stake in any bailout? Me neither, that’s why Clinton lost.
“health is not a commercial asset but a basic right,”
No it is not. Because you cannot compel doctors to work as slaves. Is it a social good? Yes. But not a right, because rights by definition cannot trample other rights. Next this will call for Medicare for All, after 10 governments in a row botched their responses and are right now getting thousands killed. The answer is to give MORE power to the ones who crashed the bus! While that bus is still smoking and slipping downhill!
“Larry Brilliant says he doesn’t have a crystal ball.”
This sounds smart but also isn’t. He proposes a fantasy event which cooperatively has exactly the size and scale of his own imagination. It therefore follows his rules and is a definition “pandemic.” However, is he instead proposing we can stop nature (and man, but I repeat myself) from ever creating another large disease? And we’ll all die of being eaten by Tribbles instead in a Star Trek future? Religion of Progressivism, thinking we are larger, smarter, bigger than nature. We’re not. We are part of nature and our blue planet, and animals that are subject to it. We will die. In singles, and also in numbers.
“rumors of impending martial law are blatantly false”
Uh, what do you call lockdowns in Baltimore, San Fran, and New York? Not technically martial law, but if you’re arrested when you do anything without permission, and the Army is enforcing it with Humvees and no court system, call it a spade. Luckily we’re feeling cooperative right now, and why not?
“CoronaBonds To Hold The Payments System Together”
Get a grip. No one’s going to pay their bills for a year: the system is not going to BE held together. It’s going to be reset, as required, with a forced jubilee and a new monetary structure, as forever planned. As Cheeto was desperately trying to set up for three years against all opposition to life and health. So anyway, take all this and throw it out the window. I’m not going to pay my bills and you aren’t either. The first attempts to restart the system will probably fail. It’s all going to change, and it ain’t My Corona. It’s you. You did this, you set this, you pulled hard for lifetimes, crushed generations, jailed people and insured this for 40 if not 100 years. Congratulations, “Tomorrow Finally Comes.”
And he may go to Thailand, but I might try Nebraska. His weather’s better but it doesn’t pay to be a “Stranger in a Strange Land.” Your money is nothing now, or soon.
March 21, 2020 at 2:48 pm #55692Raúl Ilargi MeijerKeymasterbosco, save your breath. It must indeed be tested for its actual effect on coronavirus. says not Fauci but the law. Good thing is it’s already proven not to be harmful to people. That will save 3/4+ of testing time, but it says nothing about coronavirus efficacy.
Which even Trump would like to know before ordering $10 billion worth of it and/or effectively nationalizing a large pharma company or two. He can do that, but he can’t afford to get it wrong too many times.
From what I understand, (hydroxy-)chloroquine is pretty much useless when you’re not infected, i.e. until you are in, let’s say, phase 1 of infection. Its -potential- benefit is that it it can bar the virus from moving into your lungs. Let’s call that phase 2/3.
Side effects are relatively benign on average, but not zero. Some people will suffer sustained blurry vision, for one thing. Testing shouldn’t take more than a few weeks, though unless big pharma gets too mad about there being not enough profit in it.
Meanwhile, let’s look at the Cuban molecule.
March 21, 2020 at 3:04 pm #55693boscohorowitzParticipantCost of living, in the standard $$ sense, is high right now. Many of those missing cellphones are probably just people who aren’t paying for services. Other sources cites closer to 20 million inactive former users.
“bosco, save your breath. It must indeed be tested for its actual effect on coronavirus. says not Fauci but the law. Good thing is it’s already proven not to be harmful to people. That will save 3/4+ of testing time, but it says nothing about coronavirus efficacy.”
I understand. But as a PR message to the people, spoken by a guy who looks like a smug owl, the guy’s a disaster, as witness my diatribe. You’re not telling me anything I don’t know about drug testing, Raul. Please, save your breath.
March 21, 2020 at 3:06 pm #55694boscohorowitzParticipantAs for ordering up a financially “large” (is ten billion a lot of money anymore?) order beforehand: why not? What have we got to lose throwing more funny money at it?
Time is still of the essence.
March 21, 2020 at 3:51 pm #55695boilingfrogParticipantSo, the Federal Reserve was able to come up with (for sake of discussion) $4.5T after 2008 crisis… and now they’re discussing another $1.5T in “stimulus”…
Why the arbitrary numbers? “Escape velocity” is clearly not a topic…Bosco, your writing sometimes has a clarity that closes in on brilliance…love your self-description above…
And now we wait…
March 21, 2020 at 4:15 pm #55696zerosumParticipantLALALAND ECON 101
$2 Trillion IS ONLY THE START.
I’m sure that history has lessons to teach on what to do and what not to do to keep the system functioning.
https://www.zerohedge.com/markets/10-gdp-us-coronavirus-stimulus-package-total-2-trillion
“10% Of GDP”: US Coronavirus Stimulus Package To Total $2 Trillion
by Tyler Durden
Sat, 03/21/2020 – 11:49
Larry Kudlow said that the latest and greatest financial package being assembled to offset the crippling economic impact from the coronavirus pandemic which according to Goldman will wipe out 24% of GDP in Q2 would total more than $2 trillion.He declined to say whether the package would include more direct government spending, or appropriations, than thought. “We’ll see,” he said.March 21, 2020 at 4:32 pm #55697anticlimacticParticipantBoeing Bailout
I think the government should give cash for equity. If Boeing is worth 75 billion [plus 25 billion debt] then a 60 billion investment should give the government about 80% ownership.
A similar approach should be taken with other bailouts.
The equity can be sold off after recovery, which should be at a profit. If the US taxpayers are taking the risk they should reap any rewards.
If this is unacceptable to any company they can go to the market for finance.
March 21, 2020 at 5:14 pm #55698anticlimacticParticipantVIRUS
It is interesting that there are five strains of the virus, including the relatively weak one in South Korea.
I wonder if infection with this mild strain gives immunity against the virulent strains in a kind of chickenpox/smallpox kind of way.
March 21, 2020 at 5:46 pm #55699boilingfrogParticipantDoc Robinson,
We’re clearly in the early innings, but that US-UK disparity is enormous, especially given the testing… any thoughts you’d care to share, or (wisely) “wait and see”?
All I can guess is the different strains that John Day (and others) have spoken of here from day one is at play.
Anticlimactic – agree. No more of this “we have to pay to keep the talent!” garbage talk. We see that in higher ed where profs talk of their “value in the free market” when negotiating salaries. Funny, they all seem happy to take the tenure.
In my mind, I’m trying to come up with a middle-of-the-road approach on the extremes of “barely regulated” business and “corporations are the enemy”. I’m struggling.
All I can come up with is that there must be “sunshine” as an antiseptic, and a constant holding people accountable. Yes, I know systems all start out with the best of intentions, only to be chipped-down over time. It’s an inherent weakness in man, hence man’s systems.
March 21, 2020 at 5:47 pm #55700my parents said knowParticipantEconomies crashing;
The populace thrashing-
The powerful increase their powers.
A sinister mission:
Controlled demolition
Of the Past’s and the Future’s twin towers.March 21, 2020 at 6:17 pm #55701Doc RobinsonParticipantboilingfrog, I dunno, as you said it’s still the early innings.
Just now checked the latest Worldometer numbers, the deaths in the US (as a percentage of total cases) is still around 1.3%, while in the UK it’s increased to 5.7%. And this is the death rate “before the NHS becomes overwhelmed and is unable to cope” (quoted from the article below).
Coronavirus: Deaths rising faster in UK than Italy
The death toll in Italy from Covid-19 has now exceeded total deaths in China – the source of the outbreak. Could the UK be on the same path?…Meanwhile the number of deaths in the UK continue to rise. It has now been two weeks since the first confirmed death from coronavirus in the UK – and since then the number who have died has been rising at a faster rate than in Italy.
It highlights the urgency needed to arrest the spread of the disease before the NHS becomes overwhelmed and is unable to cope.
https://www.telegraph.co.uk/news/2020/03/19/coronavirus-deaths-rising-faster-uk-italy/
March 21, 2020 at 6:21 pm #55702my parents said knowParticipantBack from my constitutional to catch the sun, and I want to edit the ditty above: dump the first apostrophe ess.
…”Of the Past and the Future’s twin towers.”
Better.March 21, 2020 at 6:36 pm #55703upstateNYerParticipantI’m relatively new to reading TAE and never commented. I figure most TAE readers are able to comment more intelligently than me so why embarrass myself. However, I live in upstate NY (in a village about 8 miles from Syracuse) and we’ve turned into the epicenter of the pandemic in the US so maybe I can add something of value now. Or maybe not. Time will tell.
First, a BIG thanks to Raul because following this blog got me to prepare for the virus ahead of the rush. I also think Raul’s aggregate links are the best around. TAE is my first stop every morning. Know that we appreciate you even if we don’t comment. (I’ve donated to TAE anonymously a few times, when financially able, and encourage everyone to).
Coronavirus cases in NY exploded. Raul’s not wrong. We’re likely the next Italy. So, yes, people are worried (not that I understand the toilet paper thing at all). But who could blame them? Anyone care to volunteer to be the person suffocating to death in the hospital hallway when healthcare breaks down? People might be worried, but where I live I’m not seeing them be rude, pushy or inconsiderate (not sure what it’s like within the City of Syracuse). Most people leave more space between themselves, some wear gloves, very few masks, everyone is subdued. Waiting for that other shoe to drop I guess.
Everything but essential businesses (defined by the state) are closed as of tomorrow (Sunday) night. All non-essential staff who work at an essential business must work from home. Some “essential” employers are trying to help by providing daycare for those who continue to work (schools closed). A lot is being done to support the poor (not PC, sorry). Lunches handed out to school age children, more meals delivered to seniors, food banks geared up, the local community foundation is making special grants, etc. There were MANY people suddenly out of a job who applied for unemployment. The crush crashed the system multiple times over at least two days.
Healthcare is the big concern. Syracuse has several large hospitals and is a regional medical hub for something like 9 counties. It took way too long to ramp up testing considering we have an Infectious Disease Center here and the idiots’ entire JOB is to prepare for epidemics. The first positive cases in my county were community spread (lovely!!), but we only just started drive-thru testing a day or so ago. People are coming from over 50 miles away to get tested at that ONE site. Can you think of any downsides to this?
Too much of the US population is overweight. Many have health issues and take meds that mess with the body’s system. If those aren’t risk factors, I don’t know what is. Could be we make Italy look like they did a bang-up job when this is all over.
Hello from NY!
March 21, 2020 at 6:43 pm #55704zerosumParticipantIs anybody watching what the covid virus is doing in India and Malaysia.
They don’t have the infrastructures that are available in the USA.
Will they tell lies about the covid-19?
https://www.freemalaysiatoday.com/category/nation/2020/03/21/sarawak-records-2-new-deaths-from-covid-19/
Sarawak records 2 new deaths from Covid-19
FMT Reporters -March 21, 2020 4:59 PMMarch 21, 2020 at 7:16 pm #55707Doc RobinsonParticipantMentions obesity as being the most frequent co-morbidity, and the use of chloroquine and hydroxychloroquine as treatment.
Handling Critical CoVid-19 Patients: a Guide from Italian Anesthesiologists
Italian-American doctors translate advice from anesthesiologists who’ve been saving lives for several weeks in ItalyItalian anesthesiologists have been handling critical coronavirus patients in Italy for several weeks. They shared their experience in a video-conference whose salient points were captured in a summary. We translated that summary, hoping that professionals around the world will find this information valuable as they face similar challenges in the days to come.
GiViTI COVID19 MEETING 10 March 2020 –
ICU PATIENTS
Patient CharacteristicsThe average age of patients is about 70 years old.
The most frequent co-morbidity is OBESITY.
…
Pharmacologic TherapyLopinavir/ritonavir (KALETRA) 200/50 mg po BID.
Chloroquine 500 mg po BID or hydroxychloroquine 200 mg po BID.
Prophylactic antibiotics (variable according to local practice: piperacillin/tazobactam, ceftriaxone, TMP/SMX, antifungals (the use of azithromycin has been abandoned).
Acetylcysteine 300 mg po TID (secretions not abundant, but dense when present).
Steroids? Only in cases with fibrosis (do not use prematurely).
Tocilizumab? IL-6 receptor inhibitor. Rationale is vast inflammation BUT use must be evaluated in setting of lymphopenia. At the moment NO indication for routine use and NO precocious use.March 21, 2020 at 7:50 pm #55708zerosumParticipantThe average age of patients is about 70 years old.
The most frequent co-morbidity is OBESITY.WOW!!!!
March 21, 2020 at 9:14 pm #55709Dr D RichParticipantApropos of just about everything going on today and in no particular order:
–do you often wonder what happened to all those patients turned away from major medical centers in Seattle and other cities when the demand for beds exceeded open beds during the flu seasons of 2010, 2015 and 2017? Did US Public Health measure the consequence and complications for the patients turned away?
–someone should ask Tony Fauci his opinion of Montagnier’s Nobel for HIV research and not Bob Gallo vis a vis Fauci’s and Gallo’s efforts to secure fame 35 years ago during another worldwide virus hysteria.
–A long time ago, I was given a copy of Hervey Cleckley’s “The Mask of Sanity” by my med school academic advisor, a nationally renowned expert in mental health. The book was not given to help better understand my future patients. Rather, the gift took the form of a warning as to the presence of sociopaths, psychopaths and antisocial personality disordered individuals among medical professionals notwithstanding the expression of such behaviors in the business, political and law communities. Letting businessmen, attorneys and physician MBAs lead hospitals brought us to this point where both non-profit and for-profit hospitals are equally unprepared to address the current crisis according to most news accounts.
—and western Pennsylvania has not been immune to the phenomenon. Beware Public Health initiatives, I suppose, because the remedies fall woefully short of justice and timely in no sense of the word. https://www.post-gazette.com/local/city/2011/08/30/Late-Pitt-dean-Cutler-denounced-for-infecting-Guatemalans-with-syphilis-in-research-experiment/stories/201108300164
—optometrists are not MDs or junior ophthalmologists
March 21, 2020 at 9:40 pm #55710zerosumParticipantHere it come …. the rescue
https://www.zerohedge.com/economics/debt-brake-finally-breaks-austere-germany-issue-eu356bn-new-debt-amounting-10-gdp
The Debt Brake Finally Breaks: “Austere” Germany To Issue €356BN In New Debt, Amounting To 10% Of GDP
In effect, what Germany is doing is unleashing a massive quasi nationalization of every industry, with the hope of preserving businesses and avoiding a firesale of insolvent assets,
“We will not allow a bargain sale of German economic and industrial interests,” economic affairs minister Peter Altmaier said on Friday. “There should be no taboos. Temporary state aid for a limited period, up to and including shareholdings and takeovers, must be possible.”
the MMTers got what they wanted.March 21, 2020 at 10:43 pm #55711Dr D RichParticipantThere it is……coronavirus my ass. What an excuse,
Money for rich and unrestrained power for the megalomaniacs. Christ, even the alcoholics submitted too easily.March 21, 2020 at 11:08 pm #55712zerosumParticipant@ Dr D Rich
TAE commentators gathers interesting points of info.
Lets wait to see who will be the winners.
I don’t see what will be the prize for winning.March 22, 2020 at 12:06 am #55713Dr D RichParticipant@ zerosum.
Winning? I sense we are common souls.
There’s just consolidation of power by the wicked and incompetent.
There’s only deeper poverty for the impoverished.
No matter the outcome and as always is the pattern, these pathological narcissists will claim the prize.
And we’re back to China bashing which was a not infrequent theme on TAE over the past two months.March 22, 2020 at 12:27 am #55714boscohorowitzParticipantbtw, the malaria/antibiotic Rx has not been presented as a preventative or vaccine but as a therapy for the infected. It looks like it can radically reduce the mortality rate/severe symptomatic time. It can stop people from dying and reduce the time in which they’re icky scary sick. That is all.
The downside is that people may relax their quarantine rigor, which would not be good. Mr. SMug Owl had a chance to reassure people that Aunt Bessie might not have to die after all while also stressing that quarantine is still necessary, *especially* since we don’t have a zillion doses on hand and, yes, some testing is wise since we’ll be especially using it for children and frail elders, for whom side effects usually matter more.
Either way, I wouldn’t let the bastard lick my dog’s dick much less mine.
March 22, 2020 at 12:39 am #55715boscohorowitzParticipantOf course the government will seek sweeping authorities. In fact, they have to. Doing so is what kept China from turning into a major graveyard. Unenlightened sociopaths naturally seek power, and unenlightened average citizens seek instructions and rules to follow (partly so they know where the fence is when they want to sneak out and bend/break some rules). A lady named Typhoid Mary comes to mind.
Even the most benign legal structures like, say, the Constitution, are steadily subverted into oppressive methods for greedy sociopathic boner-brains to get thier kicks off of. This is the story of history back to Genesis. The nice thing about absolutely draconian laws like indefinite detention is that you KNOW people are going to break them. KInda reminds me of this song:
If people aren’t told what to do after a lifetime of being told to do by parents, schools, TV/media, they won’t know what to do. Worse, they won’t know what rules to break and who to say, ‘You’re not the boss of me!’ as they wrestle over toilet paper.
There’s no other way. Never mind the socio’s power grab, that’s fundamental context for any human society of any size larger than tribal. Sadly, I don’t think our government has the smarts/guts to do even a poor imitation of, say, today’s communist party.
March 22, 2020 at 12:45 am #55716boscohorowitzParticipant“I also think Raul’s aggregate links are the best around.”
Agreed. HIs patience must be powerful to wade through this stuff daily. He asked a question a few days ago wondering if folks were tired of virus reportage. I say: no, but it might be good to start a few extrapolative trails exploring how the virus is affecting: supply lines, the usual economic concerns, stuff like that. Seems a natural next step while still focusing on the virus, a subject which hasn’t fatigued me yet because, despite haviong lived among the smelly yahoos all my life, I’m fond of homo sapiens and wish to know how to help them mitigate the mess they’re in, if only as an affectation to soothe my migrainatory conscience reeling from humanity’s effects on itself and Terran life after 500 years of fossil-fueled Enlightenment Era “progress”.
March 22, 2020 at 12:52 am #55717boscohorowitzParticipant“Too much of the US population is overweight. Many have health issues and take meds that mess with the body’s system.:
Damn. That’s my wife to a T. Damn. On the other hand, I’d rather bury her than her me. I can take it. Don’t think she could. I have had her and I l;earning strict anti-contagion protocol for several days now primarily for the previously mentioned salve to our conscience: don’t get other people sick.
Now I’m glad for other reasons, like protecting her. I’m an invalid and can stay home, plus I’m a hermit. She goes to work everyday. Small office with no customer traffic and offices with closable doors and a decent enough social distancing policy in place.
Damn.
Love is amazing. Evolved from critters ruthlessly eating critters via group affinity survival pressure. It looks lovely in a lover’s eyes, and pretty good even in a casual stranger’s smile. Love…
March 22, 2020 at 1:02 am #55718boscohorowitzParticipant“Bosco, your writing sometimes has a clarity that closes in on brilliance…love your self-description above…”
You obviously have bad taste. 😉
Who remembers this?
March 22, 2020 at 1:04 am #55719boscohorowitzParticipantmy parents said know: writing poetry that rhymes in good vernacular meter without making it cheesy is difficult. Bravo.
March 22, 2020 at 1:35 am #55720zerosumParticipantHOW TO MAKE MMT WORK
Its my opinion, from reading history. Not Rome. Egypt.
Quote your own examples that you figured out where it worked.
It did work for some ancient economic/socials structures.Price control
March 22, 2020 at 1:54 am #55721boilingfrogParticipantUpstateNYer – great input, thank you. I’m isolated in the New River Valley of the South Central Appalachians. Your take is much appreciated.
Highlight of my day (to go CHS and be positive for a moment): damned chickens showed me their secret escape route as I stood and watched! That border has been walled up!
Bosco, regarding your pentameters and such, I read this recently: “Truth is like poetry, and most people f****g hate poetry”.
March 22, 2020 at 2:03 am #55722V. ArnoldParticipantAs I said weeks ago; this thing is just getting started; if people are freaking out now, then what will they do later…
Fear and terror will rule the moment; possibly emerging as I type.
The abject failure of the U.S. from the beginning; will ensure a decimated society as well as economic catastrophe; typically this can lead to war. War seems to be the way out for the mental midgets (WWII), who lack imagination. In the place of imagination, those charlatans parading as leaders, will show themselves as the despots they truely are…
If nothing else, the Usians’ used to have an indomitable spirit when faced with challenges; that spirit is nowhere to be found today, IMO…
Be informed and act accordingly; best to all…
VMarch 22, 2020 at 2:59 am #55723my parents said knowParticipantBoscohorowitz: I blush. Thank-you.
Boiling frog: Yup. -
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