I recently discussed how the lessons of Adam Smith are still being learned by major corporations like Disney on the 300th anniversary of his birth. One person not celebrating Smith’s birthday is San Francisco Supervisor Dean Preston who has blamed capitalism for the city’s homelessness problems. It appears that the invisible hand behind the rapid decline of the city is not the policies of Preston and his colleagues but the teachings of this cursed Scottish economist.
Preston explained that the problems in the city are “absolutely the result of capitalism.” Preston continues to push to defund the police and to limit law enforcement in the area.
What is striking is that Preston, a Democratic Socialist, represents District 5 including the Tenderloin District. That area was once a major tourist draw. It is now over-run by drugs and homeless persons as stores close. The city is watching the flight of businesses from various areas. Even the famed farmer’s market has been lost to the rampant crime and drug use.
Preston represents a rapid rise of Democratic Socialists in Congress and other cities, including the new mayor of Chicago who has pushed to open city-owned grocery stores and other socialist measures.
The city-owned stores are based on the model of a store in Erie, Kansas, which opened in 2021. The Wall Street Journal looked into how that store was doing and found that it has lost money almost every month. In 2022, it posted only one month in the black and has lost $132,000. However, the value for city leaders is to preserve the myth that state or city-run businesses are superior to capitalism.
It does not matter that the invisible hand is giving your store or your city the finger as citizens go elsewhere.
These policies prove Milton Friedman’s observation that “if you put the federal government in charge of the Sahara Desert, in 5 years there’d be a shortage of sand.”
Capitalism remains the greatest generator of wealth in the history of the world. Socialist and communist nations have had to turn to capitalist enterprises in nations like China because of the failure of Marxist economic theories.
That is clearly not the view of Preston, who graduated from Bowdoin College with a degree in anthropology and economics. He is also a lawyer.
Nevertheless, Preston shows how politicians responsible for the demise of our major cities will cite their own failures to double down on these policies. The loss is being felt by not just these citizens, but the nation as our great cities become urban hellscapes.
There was a time when people “left their heart in San Francisco.” Now they are just leaving.
All Hail Estovir!!
Estovir / Waters
Brilliant use of the ‘K’ word. That should keep women away! Not that ‘you’ would care. Your creepy gay videos have already told women this site ain’t cool.
U make the site way cool, drunkard. Have another sip, kunt.
Estovir Says:
Dont forget, you’re a ball sucking, booger eating pedophile and your daily dropping of your steaming turd adds no more than my puppets.
Amazing that you dont see the irony in your pathetic kunt posts about Tom, Thinkthrough, UpstateFarmer, Iowa2, Hullbobby, GuyVentner, RalphChappell,
EdwardMahl . You’re less self aware than buganon.
Good one Estovir Rex!!!
That Estovir is one profound dude!!
Estovir the King!
Long live Estovir!!
Long live Estovir!!
Long live Estovir!!
Another alias for BugAnon.
Updated 12/12/23, 4:28PM with the latest lie from Elvis Bug, the Lawn Boy
The Consumer Price Index was indeed at 7.6% when Trump left officeElvis Bug aka The Lawn Boy (it was 1.4%)
Archer gave no details about the meeting at the Naval Observatory with Marc Holtzman—-Svelaz aka Mr Peetape
Archer had no idea what was on those phone calls. He admitted it under oath—Svelaz aka Mr Peetape
Evidence isnt permissible unless its incontrovertible—-ATS
Circumstantial evidence alone is not enough to convict——Svelaz aka Mr Peetape
Republicans are the only ones calling for violence these days—-Dennis
Democrats call for violence when the cause is right—-Dennis in the same post
Gas prices spiked because Texas uses crude oil to make electricity—-Gigi
AR-15’s ruin the meat—-Dennis
The inflation rate was 8% when Trump left office—-Gigi
(it was actually 1.4%)
Biden only released the strategic oil reserve once—-Svelass Mr Peetape
Archer never said it was Joe that was called from Dubai—-ATS
The State of Florida does property tax “appraisals”—-Svelass Mr Peetape
You can’t convict without incontrovertible proof—ATS
Trump was convicted of rape—Svelass Mr. Peetape
The Jefferson County school board has a supermajority of republicans—-lawn boy EB
Trumps attorney forgot to “check a box”——Dennis
An insult or name calling is not a personal attack—-Svelass Mr. Peetape
The DC NG answers only to the President—-Gigi
Christianity teaches to treat your fellow man the same way you treat Jesus—-Svelass Mr Peetape
The ideal athlete is 6’2” and 175#—-Dennis
There is no way a fat person can shoot a 67 in golf—-Dennis
“Bright red Alabama is the “wild west”,” (when its bright blue Birmingham that accounts for 95% of the gun violence in Alabama)—-Dennis
That’s why McCarthy didn’t hold a vote. He was going to, but upon realizing he didn’t have the votes he chose not to hold one.—-Mr Peetape
McCarthy never said he didn’t have the votes.—-Mr Peetape
Free markets give each of us control of our life choices.
Our success or failure, even our preferences are in our own hands.
And the consequences of our choices fall on us individually.
ALL other systems rest on the premise that someone else can decide better for you than you can for themselves.
AND that they are entitled to do so.
There are only two differences between monarchy and socialism.
In a monarchy power over the lives of others is vested in a single person.
In socialism it is vested in a group.
A monarchy is more benign for many reasons:
No monarch has the time to micromanage all subjects lives.
People are less tolerant of authoritarian power from an individual than from a group.
In all of human existance no system has EVER come close to raising the standard of living off ALL as rapidly as free markets do.
In all of human existance no system has EVER come close to the bloodshed of socialism.
John Say,
That was a great comment.
No one has better interest in their personal outcomes than themselves.
Unfortunately, many will gladly give up that kind of personal responsibility and give it over to someone else whom they believe are their betters. Generally just because that person as some letters after their name.
I would like to claim to be so brilliant as to have come up with what I say on my own. But there is nothing in the vast majority of my posts that can not be readily found in the wisdom and writings of the most brilliant thinkers of the past and present.
You can read my arguments in Adam Smith, 250 years ago – Or Nobel Laureates Ronald Coase and Milton Friedman more recently.
Or Thomas Sowell, or Walter Williams. You can ever read them in old writing of Paul Krugman before he became a political schill.
Jeffrey Sachs followed this guidance to rebuild many ruined south american and eastern european countries – before getting the left wing nut mind virus – though like many liberals he is slowly developing immunity.
Outside of Economics you can read John Stuart Mill’s or Robert Nozick. And thousands of other amazing thinkers of the past millenia.
You can go back to Rome or Greece or the Torah, or Babylon -or even india or china millenia ago and find the roots of this.
You can find bits and peices of this in myriads of modern thought leaders. Derschowitz, Turley, Haidt Peterson. The Weinsteins – juust a few among many.
There are differences between all of these, and some focus only on a narrow domain. Many are red pilled liberals. such as Taibbi, Greenwald, Shellnberger, Weis, Turley, Derschowitz, Rubin. The Weinsteins. Tulsi Gabbard.
The purported intellectual giants of the left are in contrast vile slugs. Whether Marx or the modern DEI crown.
And they are selling adrugs that taste awful and lead to chaos, karnage and copious bloodshed
Not because I say so – but because the history of the 20th and parts fo the 19th century is the history of the bloodshed driven by those who place equity over liberty.
Add Andrew Sullivan. He wrote a searing article a few days ago on his blog, dissecting the collapse of our culture. He writes well.
The Day The Empress’ Clothes Fell Off
Did the Congressional hearings finally expose the scandal of the Ivy League?
ANDREW SULLIVAN
Yes, that was a great piece by Sullivan.
Ludwig Von Mises is also a profound thinker on markets, and the destructive role of government. His Human Action is an exceptional treatise.
I avoid Mises and Hayek references as that typically causes left wing nuts to foam at the mouth.
But they and many many others are well worth reading.
Nobel Winner Buchannon and Public Choice theory is insightful – or how the same attributes of human nature than make free markets work lead to government failure.
The scandal is finally too much, since the jews got attacked.
It was okay when the whites were the target.
Very interesting, isn’t it.
There are many many many others that can be added.
Nor are each of them right about everything. Many are right about most things, or right within their own domain.
And their numbers are growing.
Despite the rants of the left wingnuts here – Turley is still a liberal.
Thinking liberals are increasingly unable to swallow the modern left.
John, “Free markets give each of us control of our life choices.” Indeed. Your comment brought to mind a quote from Voltaire: “It is not inequality which is the real misfortune, it is dependence.”
I am pasting in a conversation with our favorite lying lefty, Elvis Bug. I want this to show as an example of how modern marxist lefties get their news and information and how they are willing to swallow it hook, line and sinker, and worse yet, repeat it as though it we true.
Gigi once posted that the inflation rate when Trump left office was 8%. I called out that lie and included it in the official Lefty Lie List, which I will update with Bug’s latest.
Elvis took it upon himself to try and prove me wrong. He stated that Gigi had just made a mistake and that, and I quote, “What Gigi was probably quoting in terms of inflation was the consumer price index, which was indeed at 7.6% when trump left office.”
Now, we can all look at that and know right away it was a lie. A 7.6% CPI with a 1.4% inflation rate, you ask??? What idiot said that, you ask?? Read on.
What he offered as his proof was a link to (i can hardly say it without laughing) factcheck.org.
I encourage everyone to go look at this link and see for yourselves what a modern marxist uses for their “research”. It’s this stupid poster board looking thing with a bunch of ridiculous and arbitrary numbers on it. It looks more like a Biden campaign ad than information. Between factcheck.org and wikipedia, who needs reality?
In this ridiculous link, it shows the total rise in CPI for the almost the entire 4 years that Trump was in office. It was indeed 7.6%. So I ask, MR Bug, here and now…were you purposely lying, or are your really that stupid?
The CPI, when Trump left office, was 1.4%. One Point Four Percent.
Biden eclipsed Trumps 4 year cumulative rise in CPI in just ONE YEAR.
Here is the insult that buggy boy led off that post with:
“When you venture away from your fever dream and approach real statistics you fall down quite hard, Scat Fetish Tommy…”
Here is the one he closed with:
“Here’s a good summary of trump stats so we don’t have to survive your interpretation of them…”
Real statistics indeed. A good summary indeed…..Shame, shame, shame.
https://www.factcheck.org/2021/10/trumps-final-numbers/
https://www.bls.gov/charts/consumer-price-index/consumer-price-index-by-category-line-chart.htm
Tom,
When I saw your list-o-lies, I noted the Gigi 8%.
I have seen that claim around on the interwebs. As you note, it is true IF you look at the fact that was the rate for the FOUR years of Trump in office. Or, what we normal people call, normal 2% growth rate or the normal target rate the Fed likes to keep things at.
Again, I will point out that inflation is cumulative. Imagine a stair case of inflation rates going back to when they first started tracking it. Every year, the inflation rate goes up. In normal times, it is, lets say two steps representing 2% inflation per year. In the case of Bidenflation, it went up some 9 very steep steps in a very short amount of time. Now, the Biden admin tries to gaslight us by saying inflation has come down. But in this case, it is still an additional 3 steps on top of those previous 9. That is the cumulative part of inflation that the Biden admin tries to ignore.
Upstate.
Not just the Biden admin. Trumps admin lied too. They all do. If that’s all it were, we’d be fine. The media, social media, wikipedia, factcheck.org, they’re all in on it. And good little sparrows like to ones here run around repeating the lies. Look at the factcheck website, with an American flag looking thing as their logo, to try to lend some kind of cred to their horsesh!t. People fall for that, they really do. Look at Bug,,,he fell for it. He says he’s smart…I’ve not seen it.
Never said I’m smart…, plus I’m regularly told on this blog that I’m an idiot.
We’ll see how long it takes for Elvis Bug to admit his lie and apologize for what he said. I’m not holding my breath.
Don’t forget, this is the guy who said the righty playbook was to cry “i dont like your information and you’re stupid”.
He chooses different terms but essentially the same MO.
Then he gives a perfect example of why I don’t like his “information” and why I think he is “stupid” LMAO I do love the ones who make my argument for me…
Thing about that, Farmer is it works both ways in the numbers game…
For instance the first year of the Biden administration inflation topped at 9%. Now it’s at 3%. Six percent drop cumulatively speaking right?
Idiot. I don’t know what else to say…..there’s no hope for this one.
Notice I said numbers game. Reading comprehension is good.
Inflation is cumulative – Real growth is also cumulative.
Nor do you have to be a match whiz to understand the long term effects.
We actually have idiots today that are trying to sell a zero growth purportedly sustainable world.
Humans have had nearly 300,000 years of abysmal growth – 1% in a century or even a millenia.
That is the 99.99% of human existance that has been h311
Zero growth means NOTHING changes. It means no improvements in medical care, in workplace saftey in ANYTHING.
If you improve ANYTHING – you get growth.
Further without growth – your children will do no batter than you – and probably worse.
Regardless, open Excel or libreCalc, or whatever and build a simple table. Put a different growth rate in each column.
Put zero % growth in one, 1% in the next, 2% in the next and so on.
Put an amount accross the top row – US GDP, Media standard of living, wages, the price of a refridgerator, Anything.
Then take each cell in each column and set it to the cell above times the growth rate – 1.01 for 1% growth.
It should be obvious very quickly that 1% growth is much better than none, and that 3% is much better than 2.
The effects of higher growth are exponential. Growth in the US in the 19th century averaged about 7% – and we also had mild deflation.
China averaged 7% growth for 30 years recently – raising standards of living from 100$/person/yr to $11,000
Trump’s growth was BELOW the 20th century average. But it was 50% higher than Bush’s and double Obama’s
Biden has fo F’d up the country it is hard to tell what the growth rate actually is – but real wages have DECLINED by about 10%,
which means NEGATIVE growth for large numbers of people.
Aha, this one hit home didn’t it, Tommy?
Sorry, I trust factcheck.org infinitely more than I trust you. Laudable though how far you guys will go to twist statistics…, if this were a republican administration you’d be popping a rod and masturbating hard in public over them (maybe you do that anyway regardless of political circumstance?)
I think the farmer pointed out that inflation is constant and that’s correct. For those of us who’ve been on the planet long enough and remember the inflation Spike in the 70’s you’ll realize this was made clear: prices never really come down to where they were. They establish new set points and it then comes down to wages keeping pace…
This round of inflation was caused by trump absolutely blowing the national response to covid and then the corporate realm doing its utmost to make everything back in a hurry in response. That’s even after the trump administration doing good in developing a vaccine but then going to war with itself over politicizing the pandemic and then ruining their rollout of that vaccine.
Like I mentioned before, I trade grain contracts. Trump’s tariff taxes nearly crushed that market in the States and the Chinese started buying exclusively from Russia, Ukraine and Brazil. The minute trump lost the election, grain prices in Chicago started shooting through the roof at the prospect of regaining market share in the States. (That’s even with Biden not fully removing the tariffs.) Those prices have been dropping since the summer of ’22. No longer does the government have to do secret aid bailouts to farmers that the trump administration did to the tune of 20 billion…
So clearly there are many factors influencing inflation, the primary one being corporate greed. The last thing a once or possibly future trump administration would ever do would be to try to stymie corporate greed. At best, he’d try to shake them down. See, some of us on this blog have actually had business experience with trump. He’s a con man and a thief, full stop.
But hey, trump couldn’t even get a security clearance again should the electoral college and the Russians smile on him again. So you magats are probably just going to have to turn your 2+2 = 22 logic toward trying to tell us the sun comes up in the west while trying to tear down clear economic stats we all can read.
Again, I trust factcheck.org (they’re not blowhards with an agenda like some people we know right?)…, and I lol at your attempts to rewrite factual reality.
And as grade school silly as your attempts to heckle my career life have been, let me just point out I’ve been trading the grains for 30 years. Started out pre digital in the ‘war on the floor’ days and have seen the changes over time…, enough to learn what drives markets behind the scenes….
Not that this will stop you because I know, as should everyone here, that insults are what you have to rely on in discussions because you almost always pop off such that you have to bail by attacking personality while ignoring principle. ..
Have fun with that. It literally convinces no one other than those who agree with you to start out.
“It literally convinces no one other than those who agree with you to start out.”
Yep cant convince you that the CPI in January 2021 was 1.4%, even though I shoved your ignorant nose right in it. I think that says something about you, not me.
You need the link again?
https://www.bls.gov/charts/consumer-price-index/consumer-price-index-by-category-line-chart.htm
Tell us again what I am twisting?
You’re twisting reality. And you clearly can’t read charts…
First off, line charts don’t assimilate ALL info, they leave out highs and lows and only plot data at a predetermined time…, when examing markets there are serious weaknesses in that method of plotting. But that’s just an aside, doesn’t affect this conversation much…
What does affect this conversation is your inability to determine long term trends vs. Short term trends…
For instance, this chart you’ve cited establishes a long term uptrend beginning in October 2015 and reaching its top in June 2022. Since it broke support in August 2022 CPI has been coming down. Drastically…
Now…, it’s reached support in June 2023, blipped up, and now is heading back down. We shall see whether it further breaks support and heads for the July 2009 lows. Prospects of that are good because there is serious momentum heading down since the summer of ’22. Might range in 2009 to may 2020 zone for awhile, but generally speaking, the type of momentum down we’re seeing since summer ’22 wins…, momentum down is always quicker and stronger than momentum up short of catastrophic fundamental news…, you know, something like a pandemic lol
Okay have to stop typing now…, since my ip address is blocked on my laptop here I can only post from my phone.
Learn to read charts, cap. It’ll stop you making such foolish posts.
Blah blah blah. Do you really think anyone else here is susceptible to your mumbo jumbo.
What was the actual CPI when trump left office?
Never said it wasn’t 1.4%. Not once. Problem with this ‘discussion is we’re talking about two different things…
Not only have i traded for thirty years, in my explanation of the chart you posted I basically taught you how to trade yourself. That is if you could get out of your own way emotionally and I highly doubt your ability to do that.
See, what I’m talking about are trends, not individual data points. The way to really boggle data is to base big decisions on single data points…, kind of like trump tried to do with covid. Or even tried to avoid data all together…, remember trump not wanting to let people off that cruise ship in ’20 because ‘my covid numbers would go up’?? LOL
I already explained in relation to the grain markets why inflation took off when Biden won.., the prospect of trump not being in office sparked bullish market behavior at the prospect of someone actually coming in and dealing with covid vaccination roll out. This translated in corporate world to ‘peddle to the metal baby, let’s make it all back now’. Remember, the fallout from covid under trump led to an economic crash even worse than ’08 under bush.
And I’m literally laughing my ass off at you leaning so heavily on your data point.., I posted data from the same source in regard to inflation coming down now a few days back that both you and farmer jumped all over as being b.s.
You’re a clown. Just like a kid putting his hands over his ears and chanting nananananananananana. You’re funny though in a laugh like hell AT you sort of way.
“Never said it wasn’t 1.4%.”
Lol no. You said it was 7.6%. Because u infinitely trust factcheck.org
“Problem with this ‘discussion is we’re talking about two different things…”
No. The problem is you tried to changed the subject, which was strictly the CPI when Trump left office. Nanananana was your tune. Mine was you’re a liar and you believed a lie.
We cant talk about the rest of it because pride and stupidity trump integrity in your world.
Trump leads Biden by a huge margin in polling on the economy. Ok, so you’re in the 30% that think Bidens economy is better. The same 30% who still think there’s a pee tape. Adam schiffs team. Good for you bro!
So we now know that trump rooked you out of lawn mowing fees and screwed up your grain trade. Checks out.
At last count, you’ve quintupled down on stupid. Only Svelaz has eclipsed that mark.
Not only have i traded for thirty years,”
Previously you said you traded grain. The only grain you traded was in liquid form [-OH]
Stfu troll.
Meyer
Is it just me, or am a talking to a psychopath here? Bug is literally trying to explain to me the entire economy, when all i said was that the CPI in Jan 2021 was 1.4, not the 7.6 that he ignorantly claimed.
Or was he so embarrassed by his inability to realize he’d been had by factcheck.org, that he needed to go off on this ridiculous side show tirade?
My favorite part is where he claims that I am the one twisting reality. Its like talking to an alzheimers patient. Its hard for me to pity him, but it really is sad and pathetic.
From the first time I encountered Bug (under a different name), he had trouble with numbers. I spent a lot of time showing him why and where he went wrong. He couldn’t deal with it because he was that bad at math and most things. He is whacked out and doesn’t realize it.
Above, he all but admitted that the only grain he traded in was -OH. He barely knows who he is, much less anything that is happening around him.
It seems that you guys have all gone thru the pains that i’m currently suffering. Dealing with what apparently are mentally deranged characters who are true products of the internet. Where i came from, looking stupid was among the worst conditions one could suffer. Here its like they revel in it. You cant shame them, they just keep coming like the zombie apocalypse.
Forgive my ignorance, i tried a search. What is -OH grain? I thought you were alluding that buggy abuses the fermented “grains” that i prefer to imbibe in now and again. But it apparently really bothered him when u said that, way more than looking stupid bothers him.
Tom, these fools reveal a lot more of their inner psychological pathologies than they realize. Even though on the blog they are unknown and unseen, their words cast shadows that make parts of them visible. You were right in interpreting the -OH not previously stated by Bug, and that was confirmed in his response (Written below: “But I finally have to chime in with the fact I’ve been sober for forty years.”) His problem is you can’t always unwind the clock.
I would be nicer to him if he tried to act decently on the blog, but he can’t help himself. He’s angry and wants to take it out on everyone else. He is less concerned about discussion than he is about feeling empowered by disrupting others.
This discussion may provide him with a bit of introspection and help him manage his demons.
Looking back, i see it now. This whole time I’ve been “sparring” with a drunk. Sh!t, how did i miss it? That explains everything. Jesus, there is nothing worse than a high functioning alcoholic.
Okay, there is literally no use in speaking to the idiot twins Allan and Scat Fetish Tommy, but I finally have to chime in with the fact I’ve been sober for forty years. Never would’ve made it to 25 if I didn’t get sober. I got sober myself and have helped many get sober also as the path to lasting sobriety very much involves that aspect…
Now I’ll just leave these two to be massively confused as to what I post, and how much I post. Needless to say these two attribute content to me I’ve never posted.
So yeah, party on f%^k twizzlers.
Hey look Meyer, the little pussy who isn’t man enough to admit he was wrong claims he is sober. So every bit of that useless tirade yesterday, in a weak sauce attempt to deflect from the simple fact that he was wrong, was au natural. Wrong, precisely as i said he was. Foolish to use factcheck.org, just like I said he was. And a jacka$$ for calling me out for stating the truth, just like i said he was.
Who else he is or what else he’s posted is just another deflection for his otherwise inexplicable display of ignorance and depravity yesterday.
He had a perfect out for all that stupidity. Instead, he says he did it all while sober. Yikes.
Tom, he may have Wernicke-Korsakoff syndrome. Who knows for sure, but that is a possibility. That, in addition to an angry temperament, might be his cause. He needs to reflect on who he is and what he can do to control himself.
Bug, you are your own worst enemy, and that is something you have a bit of control over.
Yea, line charts can make 1.4 look like 7.6 lmao
I’d love to have a conversation with someone about the trends, the causes, the variables. But not with you. Because you cant admit your were wrong. I’ve not said a goddam thing thats debatable.
I said the CPI for jan, 2021 was 1.4%. You said it was 7.6. The rest of your crap which i didnt read is just that. Crap.
Click on the line idiot, thats how you see it for each month lmao.
Frankly, i dont believe you traded jack, other than your integrity for your pride. You stand here flat footed accusing me of twisting statistics. I say this with all sincerity, your are a piece of sh!t.
I gave the number from the bols website. You go off on some sideshow for what??? You sir, are a liar and a coward.
When I dissected the trends on the chart I clicked on multiple points and related one to one another, scat man. You’re too dense to even realize it.
And you don’t want to discuss things with me now? Well thank f$%king God, troll. My patience for unmitigated idiocy on this site has maxed out.
I didnt ask for this discussion “troll”. What even is that? Is it supposed to be an insult? Its like calling me a squash plant. Or a volkswagen. Retard. Now thats an insult. To most. But not in your case. Its an insult to retards.
Why do you keep acting like we were EVER discussing the economy? It makes you look really small.
Man up bro and just own your ignorant, gullible statement
“the consumer price index, which was indeed at 7.6% when trump left office.”
That is idiocy. You seem to have quite the tolerance for it.
Yeah you asked for this discussion. I stupidly agreed to participate. All good, it’s done. I posted data from fact check and you said you don’t like facts. I should’ve stopped right there.
I won’t miss talking to you at all, troll.
Thats right, run off you little psycopath. Piss ant that cant even admit when he’s wrong. And says being called a pussy is an insult. Not in your case bro. You sound just like Gigi.
You posted horse manure. I pointed it out. You should have stopped right there.
I wont miss u, but i would miss your easily provable lies. So dont go too far, squash plant.
I LOVE how up in your head I am.
Got it. You don’t like facts. I don’t owe you an apology at all. Sit and simmer you f$%kwit. Better yet, commiserate with the complete moron Allan about me.
Can’t even convey how hilarious that is.
There ya go buggy boy!! Thats the old spirit!! You’re “up in my head”. Thats the old standby we’re used to. Its right up there with “troll”. I love it. I thought you’d suddenly gone soft!!
Oh yea and there’s the other one, “sit and simmer”. Good boy!!! I hand you your ass, you wont admit it, and i’m simmering. Lmao
You didnt post a fact, dipsh!t. You posted a falsehood. And like a pussy, you arent man enough to admit it.
And as grade school silly as your “aha this hit home” comments are, and your longwinded attempt to deflect from the subject, it doesn’t change the fact that CPI in Jan 2021 was 1.4%, not 7.6%. Do you even know how CPI and inflation rate are related? I didn’t think so. If you did, you’d know its not possible to have what you claimed.
I don’t twist stats, I don’t bend facts. I give my opinion when warranted, but I don’t claim something to be fact unless I know it to be. You linked to veritable garbage. Seriously, I am being as sincere as I can. That link was/is garbage as relates to this conversation. And this is typical of you, Svelaz, Gigi. Its why the lefty lie list exists.
My opinion is, you’ve never traded jack sh!t, except your integrity for your pride. You will stand right here flat footed and say that I twisted the goddam statistic. LOL, how did I do that? Its the Bureau of Labor Statistics. Not a “fever dream”.
The CPI in Jan 2024 was 1.4%, not 7.6%
Thanks for the compliment about the home run. Still waiting for the apology though.
“Sorry, I trust factcheck.org infinitely more than I trust you.”
And there is your problem. That you infinitely trust anything.
You don’t have to trust me. Go look at the LINK I POSTED, numbnuts.
And then go back and look at yours. It says, and I quote “NOTE: ALL FIGURES REPRESENT MOST RECENT DATA AS OF 10/7/2021, SINCE 1/20/2017…” That was the Total increase in Consumer prices over 3-3/4 years. Not the CPI as they called it.
The CPI in January 2021 was 1.4%. I gave you the link. Use it.
You’re the one attempting to rewrite reality.
Go to the labor website and tell us what the real CPI was when Trump left office. You do know that’s their number, right??
Or, triple down on stupid right here for everyone to see.
There is not a fact check organization that is trustworthy.
Trust is not bestowed by naming convention. It is earned by a history of accuracy.
There is no good reason for factcheck organizations to exist – if Media truly did their job and delivered honest unvarnished truth.
But quasi independent factcheckers exist only because media failed to be trustworthy. Most fact check organizations are part of or strongly tied to the very unreliable media that created the need for fact checking.
But it is worse still – by Virtue of identifying as a fact check such an organization automatically imposes on itself a much higher standard that the media as a whole or even the rest of us. If you call yourself a bank – you are expected to be 10,000 times more careful with money than the rest of us. If you call yourself a fact checker – you can not be wrong – ever, and if you are you must honestly correct yourself.
The first problem is that it is self evident from most of their own fact checks that they are NOT checking actual facts. just shilling politics.
An organization that calls itself a fact checker, and then is influenced by politics is by defintion NOT credible.
And YES they have an agenda – and they wear it on their sleeves.
Today you should get information from primary sources – unlike in the past these are readily accessible to all of us.
In leau of that from sources with a LONG reputation for trustworthyness. That rules out the MSM and Fact check organizations.
Future Hazy For Project Veritas
The chief executive of the rightwing muckraker Project Veritas resigned on Monday, saying the non-profit had become “an unsalvageable mess” and alleging “past illegality” and “past financial improprieties” at the group founded by the political provocateur James O’Keefe.
“I am stepping down from all roles with Project Veritas and Project Veritas Action – effective immediately,” Hannah Giles said
O’Keefe left the group in February, having been put on paid leave by its board.
The board said he had “spent an excessive amount of donor funds in the last three years on personal luxuries” and filed a civil complaint.
An internal memo, compiled by staff members and widely reported said: “James has become a power-drunk tyrant, and he is exactly who he pontificates on who we should be exposing.”
https://www.theguardian.com/us-news/2023/dec/12/project-veritas-hannah-giles-resigns-alleged-past-illegality
None of that is true. The board complained about O’Keefe’s spending on his wedding, but he was never married. They complained about transportation costs and private cars, and spending on transportation costs a lot with a person who is traveling with many persons to a site. They didn’t like the use of private vehicles. Would they want the sting personnel to travel by bus? The board went rogue with some crazy board members who were born with silver spoons. This could have been retribution by Pfizer since it happened in close proximity to O’Keefe’s release of his videos on Pfizer. Some of the wealthy board members might have had ties with Pfizer.
He provided a video of what happened, which corresponded with the facts. The board was shown to be foolish. The board killed a great organization that exposed criminality on video.
SM – it actually would not matter if it was true.
OKeefe WAS Project Veritas. It succeeded, it was able to bring in massive funding – because of him.
Whatever he spent – he delivered what those contributing to PV wanted.
Since OKeefe’s departure – PV is failing. They have accomplished nothing,
and donations have tanked.
Conversely While OKeefe’s new organization – with many former PV staff is not yet as big as PV was,
it is doing fine and growing and producing the same real investigative journalism that 60minutes USED to deliver and that PV under OKeefe was famous for.
The PV board made a choice – it was a bad one, and now they have to deal with the consequences.
As to OKeefe’s “spending” – while the claims are dubious and have been well debunked – even if True SO WHAT ?
I do not as an example care that Hunter Biden spent a fortune on Drugs and hookers.
I care that he did not pay his taxes.
I do not care that an assortment of foreign powers paid him a fortune.
I care that what they paid for was the vice presidents excercise of public power for their benefit.
It is not my job to second guess OKeefe’s spending. It is not the governments – so long as any taxes due were paid, and so long as PV was not wielding government power.
It is/was PV’s board’s job. They made a choice, and that choice has proven to be a bad one.
That is how free markets work.
Maybe in a year or So OKeefe can step in as a white knight and buy PV at fire sale prices after they have destroyed their value.
Though the impact is not near so dramatic – the same has happened with Fox firing of Tucker Carlson.
Carlson is doing fine off on his own. The reports I have read are that he is making more money on his own that he was at Fox.
And he has vowed that no one will ever have the power to decide what he can or can not say in the future.
And we are learning that what was rumored at the time is proving to be True. Carlson was “fired” because of complaints by advertisers – specifically “big pharma” – as well as a collection of Rinos – such as Paul Ryan and Mitch McConnell that are either on the Fox board or otherwise have influence at Fox.
Fox has made a number of unwise choices over the past year plus. Unlike PV they will likely survive.
They remain by a significant margin the largest media outlet of their kind.
But they have still declined from being bigger than all the rest put together, to merely larger than any one of their competitors.
Regardless, I have no problems with free markets working things out.
Media matters has successfully driven some advertisers from some companies.
It is credibly alleged that they did so by fraudulent representations. They are being sued and that will be decided in court.
If they did engage in Fraud – they will be destroyed. If not they will prevail. I strongly suspect the former.
Advertisers have used their clout and left various outlets – but not always to their benefit.
As an example though still dominant – Foxes ratings have dropped dramatically – as a result their value to the very advertisers that leveraged their power is diminished. Fox is making less money. Advertisers are getting less bang for their buck because they put politics infront of business.
We have had lots of examples in the past year+ that the real power is that of the consumer – not the business, not the advertisers.
Left wing nuts are celebrating the demise of PV – as if they have succeeded in silencing a voice.
PV is likely done for. OKeefe is not. And like Carlson – he has learned to control his own future.
Fox was almost as large as the rest of media combined because more people wanted what it was providing than all the rest of the media.
Taking out Carlson does not change the fact that Fox viewers do not want what the rest of the MSM is shilling.
If some are leaving Fox – they are not going to MSNBC.
The same is true of Trump voters. Those on the left are under the delusion that take out Trump and the people that vote for him will magically be unhypnotized and become loyal followers of Rachel Maddow.
Trump did not create his followers – THEY created him.
“If you strike me down, I shall become more powerful than you can possibly imagine.”
Obi-wan Kenobe
So many on the left think there is some huge conflict within the GOP between various candidates.
To a small extent there is. The conflict is over WHO will be the MAGA president of 2025.
If Trump had a fatal heart attack tomorow Trump voters would coalesce arround one or another of the large number of MAGA candidates in the GOP. It might take time for one to establish themselves as the front runner, but with no doubt One would, and Trump voters would vote for that candidate.
Vivek is campaigning on a platform of “I am Trump only younger” – and doing well. DeSantis is not quite as overt. But is fundimentally running the same campaign.
John, I know O’Keefe and have seen him many times. I’ve been to his old office in Mamaroneck and met many of his staff, along with those who manage the technical stuff. He is focused, moral, and polite. The office was very effectively run and economically efficient. I know of no other person who raised money for PV. It went from 0 to three to four million to a $20 million organization, which I think caused its failure.
The big bucks come with large egos and sometimes deficient critical thinking skills. Silver spoon egos ended up on the board (likely boosting PV’s cash), pushing him out in a power battle. Pfizer may have been involved. He should have paid more attention to the legal work when creating a board to oversee PV or at least as much attention to detail as he did with his investigative reporting.
I was on the phone multiple times with people who attempted to put out the fire. They did not listen. Like you, I told them he was Project Veritas, and it would die without him. I asked them to put him back in charge and fire the dissenters.
His new organization will grow, and it might expand investigative journalism with a lot of eyes in all sorts of places. I’ve watched him grow from the start, and it was a pity Project Veritas ended the way it is ending.
O’Keefe is a skilled workaholic who cannot be stopped.
You are noting that PV did extremely well under OKeefe and has failed without him – and then you are trying to blame OKeefe ?
The issue of OKeefe’s spending was addressed before. Though the claims are bogus – he was “fired” as a result.
Subsequently PV’s finances have collapsed – because no one is giving them money.
You can sl;ander and malign OKeefe all you want – but he is now off on his own – with many former PV staff, and he is succeeding.
While PV without him is failing.
Better question is why are yall falling for this moron’s crap thats not worth discussing.
“why are yall falling for this moron’s crap thats not worth discussing.”
Because in this case a man’s reputation is at stake something the MSM has tried to defame for years. Brandrunner probably was writing the same crap under a different name long ago.
You are right, Brandrunner is a moron and a liar, but let us remember to help guide people to the truth when their reputations are at stake. James O’Keefe is an upstanding guy who is moral, honest, and very effective.
Estovir, Mr Green Slime:
We used to have discussions all day every day. But now the only discussions are between your puppets. Where they all praise each other with comments like: “Great point, Upstate Farmer”, or, “Tom, I agree”, or “Thinkthrough, that’s great!”.
🇸🇩🍆🕺🏽
These type of posts are attempts by Estovir to forget his altar boy days. Sorry, you were abused; it’s never too late to seek help.
“it’s never too late to seek help.”
I’d say you are living proof of the fallacy of that statement, little kunt.
Dont forget “brandrunner, you’re a ball sucking, booger eating pedophile and your daily dropping of your steaming turd adds no more than estovir’s “puppets””
Amazing that you dont see the irony in your pathetic kunt posts about Tyrannosaurus Estovir. You’re less self aware than buganon.
It’s only been 15 years so far, but once the high-speed rail project starts laying track and finishes spending the estimated $128 billion (and climbing), there will be an even faster way to escape San Francisco.
@OLLY,
Huh?
The high speed rail from SFO is to LA.
Then there’s the LA to Vegas segment.
If you want to escape SFO quickly go either to the airport, or take the GG Bridge north then out of the state.
-G
G, you left out the preparation for leaving the state.
First, go to the expensive stores and steal $949 worth of things several times. After fencing those items for cash, get a first-class airline ticket to Florida or Texas. Make sure you bank enough money so you can fly back and forth to LA/SF for more cash to fund your lifestyle.
Well that’s deep. The point you and Preston completely whiff on is the state already has a $68 billion budget shortfall. Instead of abandoning their failed policies, they pursue the ridiculous like the HRP, guaranteeing more declines in state revenue. Oh, and of course capitalism is to blame, and some ism.
It’s not that we haven’t had idiots it’s that idiots are allowed and promoted to be so bold and do so much harm.
And then slink away to never spend one day in jail.
Hurting people with your stupid should hurt.
Communists behind bars there’s a bumper sticker.
Kill a commie for Mommie
Adam Smith understood that people don’t fully grasp the importance of freedom, free enterprise, and the “pursuit” of happiness.”
Adam Smith incorporated the term capitalist into the science of finance.
Capitalism was used as a pejorative by the politically and economically incompetent and incoherent charlatan Karl Marx.
Karl Marx was nothing more than the diametric opposite, for opposition’s sake.
Karl Marx was a jealous, wretched sinner who absurdly coveted the success and superiority of others.
Karl Marx secretly desired the sharing of misery rather than the providence of success.
Charity is good.
Charity cannot be taxed for or conducted by the government under the Constitution of the United States.
Communism enslaves and nullifies freedom and the Constitution.
Communism is bad.
Communism is the cancer that must be excised with extreme prejudice in order to save the American patient.
A competitive free market and free enterprise are the answers, the whole answer, and nothing but the answer, so help you, God.
Updated 12/12/23, at 2:07PM, at the insistence of EB, aka lawn boy
Archer gave no details about the meeting at the Naval Observatory with Marc Holtzman—-Svelaz aka Mr Peetape
Archer had no idea what was on those phone calls. He admitted it under oath—Svelaz aka Mr Peetape
Evidence isnt permissible unless its incontrovertible—-ATS
Circumstantial evidence alone is not enough to convict——Svelaz aka Mr Peetape
Republicans are the only ones calling for violence these days—-Dennis
Democrats call for violence when the cause is right—-Dennis in the same post
Gas prices spiked because Texas uses crude oil to make electricity—-Gigi
AR-15’s ruin the meat—-Dennis
The inflation rate was 8% when Trump left office—-Gigi
*Gigi meant the Consumer Price Index, not her sphincter—-lawn boy EB
Biden only released the strategic oil reserve once—-Svelass Mr Peetape
Archer never said it was Joe that was called from Dubai—-ATS
The State of Florida does property tax “appraisals”—-Svelass Mr Peetape
You can’t convict without incontrovertible proof—ATS
Trump was convicted of rape—Svelass Mr. Peetape
The Jefferson County school board has a supermajority of republicans—-lawn boy EB
Trumps attorney forgot to “check a box”——Dennis
An insult or name calling is not a personal attack—-Svelass Mr. Peetape
The DC NG answers only to the President—-Gigi
Christianity teaches to treat your fellow man the same way you treat Jesus—-Svelass Mr Peetape
The ideal athlete is 6’2” and 175#—-Dennis
There is no way a fat person can shoot a 67 in golf—-Dennis
“Bright red Alabama is the “wild west”,” (when its bright blue Birmingham that accounts for 95% of the gun violence in Alabama)—-Dennis
That’s why McCarthy didn’t hold a vote. He was going to, but upon realizing he didn’t have the votes he chose not to hold one.—-Mr Peetape
McCarthy never said he didn’t have the votes.—-Mr Peetape
Reply
Speaker Johnson in USA Today, OpEd:
House speaker: Evidence against Biden can’t be ignored.
Here are the accusations against the president:
From 2014 to 2019, Biden family members and their affiliate companies received more than $15 million from foreign companies and foreign nationals in Ukraine, Russia, Kazakhstan, Romania and China. Biden business associates received an additional $9 million.
There are at least 22 examples of Joe Biden speaking with or meeting with Hunter Biden’s foreign business associates.
President Biden and the White House have lied multiple times about his involvement in his family’s business schemes.
Last week, investigators released information showing payments to Joe Biden from Hunter Biden’s business account, which was funded by payments from China.
Investigators also released an interim report detailing the special treatment Hunter Biden received from Joe Biden’s Justice Department.
A credible FBI source relayed information about an alleged bribe Joe Biden accepted during his time as vice president.
These accusations refute the president’s repeated claims that he had no knowledge of his son’s foreign business dealings and that his son had “not made money” from China.
https://www.usatoday.com/story/opinion/2023/12/12/biden-impeachment-inquiry-vote-house-republicans-speaker-mike-johnson/71877294007/
“It’s the [vote], stupid!”
– James Carville
__________________
Is the communist do-nothing Supreme Court going to strike down impeachment for insufficient charges?
The communist Supreme Court can’t even strike down the illicit, unconstitutional American communist welfare state.
Did the OJ Simpson jury vote on the evidence?
Did the FBI “stop him?”
Did Mueller prove “Russia, Russia, Russia?”
Was the wholly ineligible, non-“natural born citizen” Obama ensconced in the U.S. presidency?
Congressmen report to their constituents, the voters.
That is all.
If the following is true then Joe Biden I would deeply allege, has committed Federal Tax Fraud. In the tax returns (copies Federal forms 1040) JB posted on his 2020 Political Web site. He reported no extra ordinary income in the 2015 and 2016 returns but did report over $10 Million in income in the 2017, and 2018 returns.
Remember this, under the Federal Tax Code (IRS) Statute of limitations does not run (Close) on any tax year. Those years remain open for any assessments’ determined. I would allege that the monies transferred to JB stating for rent or loan repayment to JB would be money laundering and taxable.
“From 2014 to 2019, Biden family members and their affiliate companies received more than $15 million from foreign companies and foreign nationals in Ukraine, Russia, Kazakhstan, Romania and China. Biden business associates received an additional $9 million.” ” A credible FBI source relayed information about an alleged bribe Joe Biden accepted during his time as vice president”. JB was VP in 2014, 15, 16, so he took money and did not report it? Also, The US Constitution forbids any emoluments to most Federal elected officials.
When the Soviet Union fell, many of us hoped that Communists around the world would abandon their Marxist mindset. But that did not happen. The adherence to socialist ideology has increased. We failed to realize that ideas are not popular because they may or may not be true. On the contrary, ideas are “believed” because of they tell us about ourselves. The person espousing Communist ideas makes several implicit statements about themselves: I understand the underlying laws of history, whereas the rest of humanity is blind, stupid, and prejudiced; given sufficient power, I can fix all the “problems” of society, and anyone opposing me is an enemy of the human race; any disasters resulting from my actions are the fault of
my obstructive opposition. In other words, Communism is the perfect philosophy for ruthless, power -hungry intellectuals.
“The urge to save humanity is almost always a false front for the urge to rule” H.L. Menken
How did America get into this situation where costs of everything have risen causing a greater disparity between the proletariat and the aristocracy? Just looking at the US debt since GW Bush and today the debt has increased from $5.674 in 2000 to $30.824 in 2022 (both are Trillions of dollars), rounding this out during the 22 years equals $1.143 trillion yearly. Now looking at the population in 2000 it was 282.4 million and in 2022 it was 338.3 million an increase of 55.9 million, and rounding again there was an increase of 2.54 million a year. These numbers may not seem relevant but looking at the individual portion of the debt it increased from $20 thousand to $91 thousand per. When government juices the economy with $25 trillion over 22 year it adds a disproportionate share looking for a place to land (invest). The United States and its representatives starting in 2000 went Bad S…Crazy hoping to sway the proletariat for their vote. Today we find trillions of dollars looking for a home that will make a return, many of those dollars are lazy, wanting only to pick the low hanging fruit which drives prices higher. Rather than invest in new innovation or expansion of existing industries we see almost daily investment in acquisitions of existing entities with hopes that the investment will increase market share and return on capital. Taking the problem of San Francisco and capitalism it’s not the lack of recourses (Investment capital), it’s the use of the capital, the ever-increasing pump of money supply from government, and the controls of government where its advantageous to place capital. America is not a free capitalistic country today, but a controlled socialist monarch, where the plebes must be assuaged with gifts from above. Debt was the bane of Rome and I’m fearful that America will soon meet the same fate.
Well said
George W,
Well said and I agree.
Although I would say the debt problem really started when Nixon took the US off the gold standard and then government, Wall St. and the Fed highjinks really started us down the debt path. Especially the Fed.
Another part many are not tracking on is de-dollarization and the demise of the petrodollar. It is going slowly but it is happening. What is it going to look like when more countries ditch the dollar as reserve currency or trade oil in other currencies than the dollar and all those dollars start flowing back to the US?
Upstate
Number below from Federal Reserve: St. Louis Fed, there are some rounding numbers from my first post.
1971- debt was 397.3 billion, 1980= 930.2 billion, 1984 = 1.663 trillion, 1990 = 3.365 t, 1992 = 4.177 t, 2000 = 5.67 t, 2004 = 7.6 t, 2008 = 10.7 t, 2012 = 16.4 t, 2016 = 20 t, 2019 = 23.2 t, 2020 = 27.7 t, 2021 = 29.6 t, 2022 = 31.4 t, 2023 = 33.2 t.
I do agree that the petro standard is worrisome, but I look at the stability of any other currency including the Euro and today I’m not concerned. BUT and this is a big BUT the course the US has been on since these astronomical increases since President Obama puts our currency stability in jeopardy. We cannot sustain this for very much longer. Our current GDP as of 11-29-2023 per the US Department of Commerce (BEA) is $27.64 trillion. Looking at China the only other country that could possibly counter the US petro dollar exchange does not concern me, their current debt to gdp ratio is +/- 87.4%, compared to us of +/- 113.8%. The stability of China’s government and Yuan has not reached the stability of the US Dollar and we’re seeing other countries convert their valuations to the US Dollar during this inflationary spiral the world is in, Argentina is example. One major concern is the haphazard way that the US uses Swift and the leverage to seize assets from other foreign actor’s citizen, Russian oligarchs’ is one of the resent examples, this is more dangerous than the petro dollar exchange. Sorry for rambling on.
George W,
Well said and spot on, no rambling apologizes necessary.
As you aptly mentioned about the haphazard way that the US uses Swift and the leverage to seize assets from other foreign actor’s citizens, I think that is another reason why we are seeing the pivot from a US/West lead uni-polar world to a multi-polar world. Other people and countries are fed up with the US using the dollar and the banking system to beat them into US lead interest compliance. Usually at their own detriment.
As I have said in the past, invest in chickens, PMs, ammo, and your own personal health.
While I agree that the US govenrment has made of mess of things for a long long time.
The core of the US economy is and remains sufficiently free market that it STILL outperforms the rest of the world.
The FED is having very serious problems reigning in inflation – BECAUSE as you discuss dollars are flowing INTO the US economy.
They are doing so because the US is still the safest investment in the world, and delivers the best return at low risk than anywhere else in the world.
While it is fiction – Atlas shrugged should be required reading. It takes a massive amount of government failure to take down a strong free market.
That is both our salvation and our bane. Because of the massive amount of failure it takes – it is hard for some to see the real damage done by socialist idiots. Afterall what is the difference between the almost 3% growth under Trump and the 1.5% growth under Obama ?
It was still growth.
Regardless, though I am with you on the harms done by the left. We are a very long way from the world leaving the US are the world currency.
One of the huge problems is there is litterally nothing else at all that can replace it. For all the problems with the Dollar – every other currency is either far worse or too small to be meaningful.
The greatest threat to the dollar is from crypto – and though I think that will prove true in the long run – that is the VERY long run.
Government – esp. the US are fighting crypto tooth and nail. The threat crypto poses to govenrments is enormous.
A large currency out of control of governments would FORCE fiscal restraint on ALL governments.
But that is not happening anytime soon – and probably never if the US govenrment has anything to do with it.
I will note – we WILL get some form of cyrpto fairly soon – the fight is over whether government will retain control.
We will get Crypto currency because it is significantly more efficient and would free up trillions of dollars of credit to be used elsewhere.
Regardless, despite rumblings the world is not leaving the dollar. There is nowhere to go.
Upstate and John Say
Crypto in its current state is not stable enough to foster trust. Valuations are not discernible. Until there is something that is understandable to the average individual or merchant it will languish as just another widget. How would a trader in Bangkok trade merchandise to an individual in Lima, not knowing if they are getting a fair value for their services or goods. It could work within a closed area of exchange but to place into international trade becomes very problematic. Now if one was to say let’s place the value of Gold/Silver or something that is recognized worldwide then maybe there’s are chance to have a truer value to a crypto item. Another standing problem for all exchanges other than a nation’s currency is who processes the exchange. This became readily apparent with FTX just as one example. Another problem is the abundance of crypto’s available. The washing machines are working overtime to filter out losers and winners in the race towards trust. Lastly, Crypto could be a solution to monetary wars like Soros waged against the British, but the inherent problem returns to a nations governance not being able to establish budgets when there’s no basis of valuation or the ability to raise funds. Crypto is ideal for any peer-to-peer exchanges, avoiding scrutiny of authority, and an acceptable valuation between the parties.
I do not agree with your assessment of Crypto.
1). The value of ANYTHING is what a willing buyer and a willing sellor agree to PERIOD.
Dollars, Houses, Bitcoins, dollars. It does not matter.
While Smith toyed with a labor theory of value, ultimately he got it right.
“All money is a matter of belief”- Adam Smith.
I do not have a problem with those who prefer gold to fiat money – but there is little or no intrinsic value to gold or anything else.
The strength of gold is that it functions as a short on fiat currencies.
Cryto is fundimentally the same.
Crytpo has been relatively well adopted in regimes where government issued currencies are abysmal – which is LOTS of places.
Absolutely people value stability in money. But stability is a function of the trust people place in that currency.
Bitcoin has fluctuated in value more than dollars – but less than most of the rest of the currencies in the world.
The fundimental weakness to crypto is the resistance that it faces from Government – nothing else.
There is an excellent book – that ends up being about money, and as I recall atleast briefly deals with Crypto
“The Mystery of Capital: Why Capitalism Triumphs in the West and Fails Everywhere Else”
I would note that there is very little difference between crypto and a debit card or apple/googlepay.
The overwhelming majority of “money” today is just bits in a computer somewhere.
Crypto currencies are far far far more reliable than all our existring forms of essentially digital currency.
Electronic transaction fraud in the US is atleast $32B/yr from Russia alone. Barring quatum computing crypto eliminates ALL of that.
Contra public percetion cryto is NOT anonymous in the way that cash and gold are. If you posess crypto – you can prove it, if you bought something with crytpo you can prove it.
One of the many reasons that crypto is increasingly popular in countries without the western systems of proof of ownership of capital assets is because cryto provides that. If you buy a home or a car with crypto, you do not need a deed or a title – you can prove your purchase. Conitue that long enough and you can prove the entire history of purchase of the asset. And you can do so in a way that is verifyiable by myriads of third parties, and can not be forged.
Again read the DeSoto book I refered to – while I do not think he addresses crytpo in it. He makes perfectly clear that the failure of capitalism outside the west is a failure to be able to prove the ownership of the assets that are the foundation of capital.
The cost to borrow is dramatically lower when the debt is secured by an asset that you can prove you won.
The problem with FTX was simple Fraud – something as old as humans. It had nothing to do with Crypto.
There are some legal questions regarding FTX, but the fundimental issue was that Freid and co were using “other peoples moeny” – likely without permission to make dubious investments,. and when those failed – everyone got burned.
It would not have mattered wither that “other peoples money” was in bitcoin, gold, dollars of shekles.
As to international trade – that already occurs in myriads of currencies – including bitcoin and dollars. Crypto is still a small but growing part of international trade.
Regardless, there is ZERO doubt that Crypto will ultimately dominate all finances.
The only question is whether that is some government issued crypto dollar or one of the many crypto currencies that are divorced from government control.
Again I ask you to think about how Credit/debit card transactions occur today.
The differences between those and crypto transactions are that crypto is FASTER – a trasaction is actually fully complete in minutes down to seconds. While debt card transactions actually take many hours to fully complete, and credit card transactions take 30 days.
That time is important – because SOMEONE must provide “credit” to cover the time it takes to close the transaction.
There is about 2T in credit tied up in the US everyday covering debit/credit transactions. The reduced time to actually clear menas that would be a few billion in credit to cover the same transactions.
Next Cyrpto is far more secure. The records of the transaction are all part of the digital ledger that is smeared and replicated all over the world. That ledger is not forgeable. Again something that is not true of existing electronic transactions. There is no portion of the electornic financial system that comes within several orders of magnitude of Crypto. Not Credit cards, debit cards, not the Federal Reserve, not the NY stock exchange.
One of the things that most of us miss regarding Crypto is that it is NOT just some digital form of money.
It is an entire financial infrastructure.
You talk about international exchange. You can buy a dollar denominated asset in the US, and within minutes have that payment from a bank in India or the Philipines and have the transaction complete with absolutely security and relibaillity.
Ebay made hundred s of billions – not by providing a web auction site, But by providing the means for two people who do not know each other and do not trust each other to complete a transaction with near absolute certainty that the transaction would complete.
That the sellor would get paid and the buyer would get the goods. Crypto delivers almost all of that – at lower cost and far higher security.
As I have said repeatedly – there is ZERO doubt that the future is crytpo.
The only open question is who provides the actual crypto currency.
Ultimately – despite the enormous power of the US and of the global financial systems, I think they missed the window to stop independent crytpo from ultimately dominating.
It is highly unlikely that government or the financial system can come up with their own crypto that has ALL the attributes of eaxisting crypto currencies, while retaining the control that governments and the financial systems want.
The core design of existing crypto is relatively simple and at the same time brilliant. I do not think it is possible for governmets/banks to remove the features they do not like without destroying the security of the entire system.
I would separately note that most of the features that governments/banks do not like – not only do most people like, but ultimately they have great value to government/banks.
As an exampel – Credit card companies are litley to fight crypto tooth and nail.
They make money off of extending that $2T in credit that is out there in the US every day.
At the same time – while that credit reflects a valueable service – in comparison to what came before, it is still inferior to cryto which operates faster more secure and requires less total credit by many orders of magnitude.
If you invent a better mousetrap – you are entitled to profit, until someone invents a better one than yours.
Ultimately credit and debit card companies will either adopt Crypto or be destroyed by it.
Just as companies that made spinning wheels eventually were replaced by companies that made industrial looms.
It is not crypto evangelists that will matter – it is businesses – even those in finance that realize they can save alot of money.
George you are an intelligent person and I am not looking to attack you or insult you.
But much of what you have written regarding crypto is rooted in missunderstanding and the false perceptions that those whose oxe is being gored are selling.
The actual nature of many is something that it has taken us atleast 7 millenia to understand – probably more.
First it is a misrepresnetaion to call crypto a currency – it is an entire financial infrastructure, and it is the robustness and security of that infrastructure that is the source of the value of crypto.
Again – “All money is a matter of beleif” There is no intrinsic money value to gold or silver. They do have an independent market value as a raw material for jewelry and electornics – but that value is a tiny fraction of their value as currency.
In the Wealth of nations Smith disposes of the argument that Gold has some intrinsic value.
In 1500 Spain was the world SOLE super power, and England was an inconsequential island kingdom.
Spain spent the next 400 years gathering all the gold in the world.
England spent the same period of time creating real value and engaging in trade.
By the 1800’s Spain was inconsequential and England the Sole global superpower.
If Gold had actual intrinsic value – Spain would not have wained. Smith observed a significant portion of spains demise and understood that gold is not fundimentally different from any other form of money.
The value of fiat currencies – the Value of the US dollar is the understanding of those holding dollars that if necescary the US govenrment will one way or another confiscate the wealth of us citizens to deliver the value that a dollar promisess.
One of the many values of crypto is the promise that governments CAN’T confiscate your wealth to repay their debts.
John Say
I took no affront. Discussion and individual’s opinion are what is needed in our society. I will endeavor to read your suggestion. We do differ on the impact of Crypto which is quite alright. I do read most of your posts and agree most of the time with your options.
Good column on the denial of Adam Smith invisible hand. However, you degrade the post by quoting Milton Friedman. He was a midget in both thought and stature.
Friedman is one of the top 4 economists of the past 100 years. Your denigration of him makes you the mental midget.
The world works very close to exactly as Friedman has claimed. While we still have idiots in government and academia flogging garbage economics – because it pays far better to tell those with power what they want to hear than what actually works, as a matter of intellectual debate – Coase, Friedmen, Hayek, and myriads of other classical liberal nobel prize winners long ago won the debate.
I would note you can not piss on Friedman without urinating on Smith or 2+ centuries of classical liberal economics that actually works,
That has raised standards of living across the world more rapidly by many orders of magnitude than any other system before or since.
Who was the clearest and most persuasive defender of a free economy.
Off-topic:
https://phys.org/news/2023-12-extremely-rare-female-male-bird.html
And in humans?
Best info of the day.
Eb
For humans:
https://en.m.wikipedia.org/wiki/Intersex
I’m sorry, what is a discussion of hermaphrodites to do with anything?
And, literally laughing at a link to wikipedia. Is this a parody?
I don’t find it surprising that EB thinks a discussion of ambiguous sex organs is “best info of the day”. What shall we talk about next? The mating habits of the Antioquia Brushfinch?
Waters, not *hermaphrodites* any more. The terminology has evolved.
…and I did warn you that this was off-topic. Happens all the time here @ Turley’s Bar…
Still hermaphrodites. The definition STILL exists. The “evolvement” of terminology is part of the problem. And whether you believe that or not, the fact that it is no accident is undeniable.
Sorry, Waters, you are beyond best-use-by-date:
https://en.m.wikipedia.org/wiki/Hermaphrodite
No human can be a hermaphrodite any more…
wikipedia LMAO
Is this your go to for all of your knowledge?
Shame, shame, shame.
Here is a freebie. You’ll have to pay for the next schooling. From the CURRENT Websters Unabridged International Dictionary
hermaphrodite
1 of 2
noun
her·maph·ro·dite (ˌ)hər-ˈma-frə-ˌdīt
pluralhermaphrodites
1
: an animal or plant having both male and female reproductive organs, structures, or tissue : an organism exhibiting hermaphroditism
2
: something that is a combination of diverse elements
Last I looked, humans were animals, though not all animals are human.
You’re welcome.
But hey, if Wikipedia says we gotta say “intersex” then by golly gee whiz, we GOTTA. And buy into the rest of the trans garbage as well. Or else be accused of whats the wikipedia term…transphobia!!!
Because of course, phobia has a new meaning as well…
Waters, read the article in Wikipedia to note the references which include a textbook of biology. I fear Websters UID is as out-of-date as you are.
Reality is not EVER out of date.
If a Wikipedia text on biology tells you to pull out your eyeballs are you going to do so ?
Futanari – japansese for dual form – male and female – hemaphrodite.
https://en.wikipedia.org/wiki/Futanari
I fear Wikipedia is as confused and self contradictory as you are.
Why do you insist on these idiotic and meaningless debates ?
Please explain to me why it is critical to you which collection of letters of the alphabet are used to construct a symbol to represent a reality that is not changed regardless of which symbol or letters you use ?
What is refered to is unchanged. Nor is the extreme rarity of that occurance in reality.
Nor is the obvious fact that MUST be true otherwise the human species would have died off long ago.
I find it really odd that left wing nuts such as yourself are flipping out over global warming that you can do nothing about and will have limited and probably beneficial impact on the planet, while ignoring the fact that we are at the beggings of population decline in much of the planet. That the likely consequences of this are a very real disaster.
That the principles that allegedly underpin your ideology are at odds with the gender and sexual values of that ideolgoy.
This conflict poses no probklems for you ?
But fights over what word to use to describe what everyone in the discussion understands as a rare reality.
John Say, that was even more stupid and misinformed than you were before — you’re going downhill.
1) Wikipedia *cited* a text of biology. Shows you didn’t bother to read before spouting off.
2) Futanari is imaginary, an amplification of certain forms of real intersex people.
“John Say, that was even more stupid and misinformed than you were before — you’re going downhill.”
Where is the guy who tried to say that Benson is not a buganon sock puppet?
just use Futanari and break his little brain
https://en.wikipedia.org/wiki/Futanari
Futanari (ふたなり, seldom: 二形, 双形, literally: dual form; 二成, 双成, literally: “[to be of] two kinds”) is the Japanese word for hermaphroditism, which is also used in a broader sense for androgyny.
LMAO this statement reminds me of “no human can be illegal”.
Cute, but irrelevant.
1984 was a warning not a how to manual.
Words are symbols used to represent things – in this case and typically FACTs in communication.
Regardless, you can play games to your hearts content with the symbols. You can not alter the underlying reality by gaming the symbols.
I would note that your argument is even absurd according to your own ideology.
If a human can be gay. trans. pansexual, asexual, or any of the identieis of the left without limit – then they can be hermaphrodite.
Your desire to pay word games does not change reality.
DBB – you do not control the language of others.
Think that you can is Neanderthal.
0.05%at most. Probably less rare than your bird, still far more than rare enough to avoid disrupting the survival of the species.
what you libs do with your free time is unbelievable
queer bird watchers – the thrill of a lifetime
“Time to go hunting darling, the table is empty !”
‘ dearest bessie, i’ve seen a gender queer bird through my lens, my life is complete !’
“Darling, we are starving.”
‘ although i wouldn’t dare capture that winged creature fighting for it’s rights to it’s place in the bird culture, i can’t stop thinking what i might find with a closer look. that orange nazi who wants his dictatorship back will have my new friend dead if the fascists pull it off ! ‘
“That’s it, I want a divorce.”
‘ bessie, you were always just me beard, my new love is my gender queer bird i have sighted. your timing is exquisite !”
Interesting – what is it that you think is the point ? There are relatively rare human genetic anomalies with similar results.
I do not know whether to trust this article – because there is a diffference between half male half female and having a single trait in the same individual that is both male and female. There is no one that thinks that we can not have masculine women or feminine men.
Those are not different sexes, and they are not different genders. But they ARE different. In point of fact sexual variety in humans is proof of the fallacy of the lefts gender nonsense – because inarguably there is no limit to the number of genders as the left defines gender – because there is no limit to human variation.
Regardless accepting that the article is correct and that this bird is truly half male half female – SO ?
It is an incredibly rare annomoly – and the same does occur RARELY in humans.
in point of fact such variations – as well as the extremes of “gender” must be rare – otherwise the species does not survive.
Neither humans nor birds are worms or plants that can reproduce asexually or from cuttings.
And NO I am not claiming all plants are asexual or anything more than what I have actually said – humans unlike SOME other species reproduce exclusively through the sexual union of the genes of a male and a female.
Regardless for most of human existance, The average couple had to produce 6 or more offspring to maintain much less grow populations.
A luxury of much higher standards of living is that rate needs only be 2.1 in developed countries today.
Regardless, the survival of the species is instinctual and in humans requires that more than 95% of humans must be heterosexual (or have much higher birth rates for those that are).
Anyway – anomalies are fascinating – BECAUSE they are very rare.
Biden-favored EV bus maker Proterra goes bust and leaves a trail of broken and irreparable buses
https://justthenews.com/politics-policy/energy/bankrupt-biden-favored-proterra-leaves-trail-broken-buses-cant-be-repaired
Updated 12/12/23
Archer gave no details about the meeting at the Naval Observatory with Marc Holtzman—-Svelaz aka Mr Peetape
Archer had no idea what was on those phone calls. He admitted it under oath—Svelaz aka Mr Peetape
Evidence isnt permissible unless its incontrovertible—-ATS
Circumstantial evidence alone is not enough to convict——Svelaz aka Mr Peetape
Republicans are the only ones calling for violence these days—-Dennis
Democrats call for violence when the cause is right—-Dennis in the same post
Gas prices spiked because Texas uses crude oil to make electricity—-Gigi
AR-15’s ruin the meat—-Dennis
The inflation rate was 8% when Trump left office—-Gigi
Biden only released the strategic oil reserve once—-Svelass Mr Peetape
Archer never said it was Joe that was called from Dubai—-ATS
The State of Florida does property tax “appraisals”—-Svelass Mr Peetape
You can’t convict without incontrovertible proof—ATS
Trump was convicted of rape—Svelass Mr. Peetape
The Jefferson County school board has a supermajority of republicans—-booger boy
Trumps attorney forgot to “check a box”——Dennis
An insult or name calling is not a personal attack—-Svelass Mr. Peetape
The DC NG answers only to the President—-Gigi
Christianity teaches to treat your fellow man the same way you treat Jesus—-Svelass Mr Peetape
The ideal athlete is 6’2” and 175#—-Dennis
There is no way a fat person can shoot a 67 in golf—-Dennis
“Bright red Alabama is the “wild west”,” (when its bright blue Birmingham that accounts for 95% of the gun violence in Alabama)—-Dennis
That’s why McCarthy didn’t hold a vote. He was going to, but upon realizing he didn’t have the votes he chose not to hold one.—-Mr Peetape
McCarthy never said he didn’t have the votes.—-Mr Peetape
It’s not that I have lost my Passion for the Democratic Parties values that pertain to: Equality, Social Consciousness, Environmental Well-being.
It’s that I have stopped being the One person in America that has to always Bail-It-Out. I’m not even ‘fed-up’ with it anymore, I’m just DONE with it ALL.
The Last Straw was a while back (~2000). Just forget about it.
I’m burning:
My Voter Registration Card,
My Library Card
My AARP Card,
My Car Insurance Card (uninsured motorist my ass!)
My American Flag,
My Fruit-of-the-Loom and going Commando!
S.F., L.A., N.Y, Chicago, Miami,… All of IT, can just falloff into the Oceans.
In 1968 I was in Vietnam. Had they been draft eligible, would they have been burning their bras?
It would be OK with me if every had to sign up for the draft.
@Anon,
Would they burn their bras?
Depends. If they were government issue? No. That would be a criminal act.
And if they were drafted, they would be serving in roles mostly stateside or in regions not near the conflict like Europe.
Just saying.
Dear Prof Turley,
Like the Terminator, the ‘invisible hand’ does not feel pain or pity or grant dispensation by the ‘finger’ in anger. The ‘invisible hand’, as envisioned by Adam Smith, is simply a colorful description of how ‘supply and demand’ operate in a ‘free market’ place (aka ‘market mechanics’) .. . ideally through enlightened self interest and the benefit of all.
The ‘free market’ itself, however, is contingent upon regulation: to ensure free and fair ‘competition’, ‘ease of entry’ (into the marketplace), etc., etc.. In fact, if Joe Biden e.g., and the U.S. as a whole, aspires to a truly ‘free market economy’, it is the gov.’s job to see that it – the free market – is free and fair.
Obviously, if anyone attempts to ‘corner’ the market place, the market for ‘green energy’ or global oil commodities e.g., the symmetry would be spoiled.
Very superstitious
Writing’s on the wall
Very superstitious
Ladder’s ’bout to fall
13-month-old baby
Broke the looking glass
Seven years of bad luck
The good things in your past
When you believe in things
That you don’t understand
Then you suffer
Superstition ain’t the way, yeah ~ Stevie Wonder, Superstition
I’m disappointed that one of today’s new blog posts isn’t dealing with SCOTUS being willing to receive briefs on the Trump immunity claim.
” Prosecutors previously conceded that Trump before trial can appeal the immunity issue as well as his argument that the prosecution violates his constitutional protection against double jeopardy, citing his acquittal in his Senate impeachment trial following Jan. 6. “