Hi there, !
Today Mon 12/12/2022 Sun 12/11/2022 Sat 12/10/2022 Fri 12/09/2022 Thu 12/08/2022 Wed 12/07/2022 Tue 12/06/2022 Archives
Rantburg
534692 articles and 1864796 comments are archived on Rantburg.

Today: 69 articles and 222 comments as of 5:51.
Post a news link    Post your own article   
Area: WoT Operations    WoT Background    Non-WoT    Local News    Politix   
A Russian couple were detained by Mexican law enforcement in Tijuana, Baja California with $587,550 in cash with them
Today's Headlines
Headline Comments [Views]
Page 4: Opinion
3 16:31 swksvolFF [11] 
2 16:56 Anomalous Sources [3] 
2 14:10 Skidmark [13] 
0 [3] 
11 17:43 Besoeker [9] 
11 15:40 NoMoreBS [10] 
3 14:14 Abu Uluque [3] 
2 13:01 746 [2] 
1 11:35 Dron66046 [6] 
1 01:11 i forgot it [2] 
0 [5] 
3 12:46 Procopius2k [1] 
3 14:17 NoMoreBS [2] 
8 20:30 trailing wife [6] 
Page 1: WoT Operations
1 11:48 Mercutio [9]
6 17:09 M. Murcek [8]
0 []
6 23:09 trailing wife [6]
0 [9]
6 19:02 Skidmark [12]
9 15:21 ruprecht [22]
0 [2]
0 [3]
15 20:04 trailing wife [7]
0 [16]
0 [14]
Page 2: WoT Background
0 [2]
0 [3]
1 03:32 Elmoting Flerelet5519 [7]
0 [5]
0 [1]
1 09:39 Slavising Unineting5672 [1]
0 [5]
0 [7]
0 [5]
0 [4]
4 15:16 irish rage boy [6]
Page 3: Non-WoT
0 [9]
10 18:24 Papa Cooky [8]
0 [5]
4 20:38 Frank G [3]
0 [7]
8 20:36 Super Hose [13]
5 20:35 magpie [7]
5 14:18 Bobby [9]
0 []
1 13:07 mossomo [4]
3 20:19 Super Hose [3]
0 [4]
9 20:50 Super Hose [3]
2 20:52 Super Hose [4]
2 09:19 M. Murcek [14]
3 20:55 Super Hose [2]
13 23:31 swksvolFF [8]
Page 5: Russia-Former Soviet Union
0 []
1 13:58 Skidmark [1]
12 13:40 Skidmark [3]
0 [2]
0 [10]
0 [12]
0 [5]
0 [9]
Page 6: Politix
2 17:40 ed in texas [5]
4 12:47 Procopius2k [2]
0 [3]
13 12:33 Abu Uluque [2]
2 09:08 Skidmark []
1 12:02 Super Hose [9]
26 21:17 Silentbrick [2]
-Great Cultural Revolution
Why The U.S. Got Brittney Griner Freed Instead Of A U.S. Marine
Posted by: Skidmark || 12/09/2022 11:01 || Comments || Link || [3 views] Top|| File under:

#1  ...They gotta explain this?

Mike
Posted by: MikeKozlowski || 12/09/2022 14:41 Comments || Top||



Fallen idols: 7 darlings of the liberal press who fell from grace
Key bits about each — read the rest at the link
. [JustTheNews] Michael Avennati is the latest progressive icon to be idolized by the media before underwhelming supporters or facing legal troubles.

Anti-Trump lawyer Michael Avenatti's 14-year prison sentence caps a stunning years-long fall from grace right before the public's eyes. He's hardly alone.

In recent years, the mainstream media has spent significant time doting on and promoting several high-profile Democrats and anti-Trump figures who went on to disgrace themselves, often finding themselves in serious legal trouble, or losing their luster in other ways.

These figures were heralded as "rising stars," great statesmen, potential future presidents, and groundbreaking visionaries only to lose influence and often be accused of misconduct, if not charged with or convicted of outright crimes.

Here are seven examples of such prematurely anointed onetime media darlings:

1. Michael Avenatti

Avenatti rose to fame while representing Stormy Daniels, a porn star with whom former President Donald Trump allegedly had a liaison. An uninhibited critic of Trump, he predicted the 45th president wouldn't "serve out his term" due to the alleged dirt he was trying to publicize.

2. Sam Bankman-Fried

Sam Bankman-Fried, the now-bankrupt founder and former chief executive of cryptocurrency giant FTX, has received fawning media coverage over the past two years.

3. Stacey Abrams

After Stacey Abrams lost the 2018 Georgia governor's race and refused to concede, saying it was not "a free and fair election," she became a star not just among fellow Democrats but also among the establishment media.

4. Andrew Cuomo

As the COVID-19 pandemic raged and lockdowns were in full force in 2020, then-New York Gov. Andrew Cuomo became the star of the Democratic Party.

The governor's candid daily press briefings and forceful action to shut down New York earned him national acclaim. President Biden even called him the "gold standard" for governors.

5. The Lincoln Project

In late 2019, several prominent Never Trumpers — including cable news pundits Steve Schmidt and Rick Wilson and lawyer George Conway, among others — founded the Lincoln Project, a political action committee dedicated to vilifying Trump.

Following President Biden's inauguration last January, however, Lincoln Project cofounder John Weaver was accused of sexual harassment by over 20 young men, including minors. The Lincoln Project, meanwhile, was accused of protecting him, with reports claiming the other principals were made aware of the allegations weeks after the group was founded. They countered that they knew nothing about the alleged predatory behavior.

Weaver said he believed the messages were "consensual mutual conversations" and came out publicly as gay.

The group also came under scrutiny for raising tens of millions of dollars and channeling much of that money to consulting firms owned by two of the group's cofounders and funneling some to its advisory board members.

6. Harvey Weinstein

Disgraced Hollywood mogul Harvey Weinstein is currently serving a 23-year prison sentence after being convicted of a criminal sex act and third-degree rape during a 2020 trial in New York. (His attorneys have appealed the conviction.) He's also awaiting jury deliberations in a second sexual assault trial that could result in 60 years to life in prison, plus an additional five years, if he's convicted. Weinstein has pleaded not guilty to the charges.

7. Jeff Zucker

Jeff Zucker resigned as the president of CNN earlier this year after acknowledging that he had failed to disclose a romantic relationship with another senior executive at the network. Critics accused Zucker of transforming CNN from "a liberal news outlet to a blatant tool for leftist politics."
Posted by: Skidmark || 12/09/2022 10:47 || Comments || Link || [13 views] Top|| File under:

#1  Why we should value scavengers
Posted by: Skidmark || 12/09/2022 10:49 Comments || Top||

#2 
Posted by: Skidmark || 12/09/2022 14:10 Comments || Top||


Now SHARK WEEK is racist! Woke Washington Post claims annual Discovery Channel predator-fest features too many white male experts onscreen

Too many Great Whites!
Posted by: Skidmark || 12/09/2022 09:24 || Comments || Link || [3 views] Top|| File under:


Post Truth Culture - We ignore the truth at our peril. ...a young frontier nation, and it has taken 250 years for generations of Americans to forget the harsh realities of taming a frontier ...
Key paragraphs:
[AmericanThinker] Has our society transitioned to a period of “post-truth”? And, if so, what does it mean, where is it taking us, is it permanent, and can we fight it?

The online Cambridge dictionary defines “post-truth” to mean “relating to a situation in which people are more likely to accept an argument based on their emotions and beliefs, rather than one based on facts.” Given this definition, I personally believe much of the United States has transitioned to a “post-truth” society, and many of us will become casualties of this new paradigm before harsh reality steers our nation back to an “objective truth”-based decision-making.

How many times have you heard someone use the phrase “my truth is…”? This phrase is at the core of a “post-truth” society as it replaces a singular “objective truth” with many truths based on individual emotions. The danger from this type of thinking can be illustrated by imagining yourself wrongly accused of murder, and finding yourself tried by a jury filled with people who believe in “my truth” instead of “objective truth.” In this world, the prosecutor needs to make jurors feel as if they are bad people as opposed to being forced to introduce evidence that will persuade a rational jury that you’re guilty.

How can we fight our society’s transition to “post-truth” and eventual collapse? As much as those of us who believe in “objective truth” think we can reason with the “my truthers” using dialog and rational debate, I have come to believe this strategy is a waste of time. Most “my truthers” cannot be reasoned with and simply must be defeated. This fight will push most of us “objective truthers” completely out of our comfort zones.

We must run for political office and put in place “objective truth” policies that protect individual rights. We must eliminate government stimulus and welfare so “my truthers” are required to face the harsh realities of making a living. Work to cut off any government funding that shields the “my truthers” world from the realities of the marketplace. We must confront “my truthers” in our online public squares, not in an attempt to turn them to “objective truth,” but to save those spectators who may be falling into the “my truth” trap. We must become doctors, lawyers, judges, college professors, etc., and sit on professional boards, so they are not weaponized by “my truthers.” We, as “objective truthers,” must get out of our comfort zone and realize avoiding confrontation with these people is not an option. Our way of life depends on it
Posted by: NoMoreBS || 12/09/2022 00:00 || Comments || Link || [2 views] Top|| File under: Mob Rule

#1  Ruralization is the key to it...
Posted by: 746 || 12/09/2022 0:16 Comments || Top||

#2  NO! No, nonononono.
Don't move to the country!
Posted by: Skidmark || 12/09/2022 14:07 Comments || Top||

#3  Amen Skid!
Posted by: NoMoreBS || 12/09/2022 14:17 Comments || Top||


-Land of the Free
IRS Agents looking for Holiday gifts valued at $600. or more
[Babylon Bee] MUNCIE, IN — IRS agents kicked off a new holiday tradition this week as they began nationwide canvassing of taxpayers' homes, sliding down their chimneys in search of undeclared gifts worth $600 or more.

Terrence Poole, Special Agent in Charge of Joy-Quashing, explained the agency's actions, saying, "We understand that people get caught up in the spirit of the season and all that. But we want to be a constant reminder that celebrating the birth of the Savior of the universe is not more important than giving an account to the government for every single thing you have."

The Jackson family of Muncie were initially surprised to find the black-suited agents pouring out of their chimney and ripping open their presents, but became cooperative after father Ben Jackson was given an explanation and a brief sleeper hold. "Yeah, I guess it's our patriotic duty or something," said Mr. Jackson after regaining consciousness.

Agents will be searching homes during the entire holiday season. Agent Poole continued, "We'll usually be entering through the chimney. For homes that don't have a chimney, we'll either be sending a magic elf through the keyhole or else using an armored personnel carrier equipped with a battering ram to breach a convenient wall. Yeah, one of those. Probably the second one."

Asked if the agents had faced any difficulties with their searches so far, Agent Poole said, "It was a little embarrassing one time when we ended up in Sam Bankman-Fried's house. We just apologized and backed out slowly. I'm sure he's got nothing important to declare."
Posted by: Besoeker || 12/09/2022 13:36 || Comments || Link || [11 views] Top|| File under:

#1 
Posted by: Skidmark || 12/09/2022 13:51 Comments || Top||

#2  ...its all about power.
Posted by: Procopius2k || 12/09/2022 16:14 Comments || Top||

#3  $Billions floating around FTX/Ukraine and Domestic Pension Funds, but get my kid a decent bicycle....
Posted by: swksvolFF || 12/09/2022 16:31 Comments || Top||


Country Singer John Rich Is Starting a Bank
[PJMedia] With the leprosy of wokeism, coupled with the venereal disease known as ESG, many normal Americans may have good reason not to trust their banks anymore. They do not know how their money may be invested on the bank’s end and are concerned that at some point, access to their cash or credit cards could be frozen for what the powers that be deem bad behavior. And it isn’t as if there is not a precedent for such a thing. You may recall that in true dictatorial fashion, the Trudeau regime in Canada froze the assets of those participating in the trucker’s strike. And as Just the News reports, PayPal recently tried to dock users $2,500 for spreading unapproved messages. Sorry, I meant disinformation.

Trudeau is a monster and I don’t use PayPal. But, it does give one pause to reflect on how much of our lives are in the hands of people who may tolerate us at best and absolutely loathe us at worst. And if you don’t quite trust your bank anymore, there is a solution. And it is coming from one of the most unlikely of sources.

Country music singer John Rich of Big and Rich fame is starting a bank. It is called Old Glory Bank, and you can get started at the website. Larry Elder and Dr. Ben Carson
... a neurosurgeon who was under the delusion that being brilliant qualifies him to be president....
have also joined Rich in the effort.

Rich told John Solomon, "People are getting their credit cards turned off if they go to the wrong protest or if they make the wrong social media posts. They’ve weaponized our bank accounts basically, at this point. There’s a whole group of real patriotic Americans who just believe in freedom of speech, and they wanted to create a new platform for regular Americans to be able to do their business." Elder said "We offer full online banking services. So those of you who were threatened with having your accounts shut down or you’re with banks that have threatened to have others shut down and you don’t like the values of your bank, there’s a home for you at Old Glory Bank."

The really great thing about what Rich, Elder, and Carson are doing is that it is quintessentially American. They looked at the state of affairs and said, "To hell with this, we’re starting our own bank." It reminds me of a situation in the town I lived in during my radio days. The owner of the local newspaper died. The paper was bought and then subsequently staffed by some of the most odious left-wing reptiles that had ever slithered out of the primordial ooze of a student union. One of the residents decided that he was sick and tired of his town, his neighbors, and the oilfield being trashed by this group of post-pubescent gremlins and started his own paper. It gave the other paper a run for its money, so much so that the narcissistic gargoyles were asked to seek employment elsewhere. I’m guessing they started blogs.
Posted by: trailing wife || 12/09/2022 00:00 || Comments || Link || [2 views] Top|| File under:

#1  I ditched Bank America when they acted against J6 folks. Being in a financial relationship with my enemies seemed ill-advised. Seems like Western Europe could have benefited from that notion.
Posted by: Super Hose || 12/09/2022 12:57 Comments || Top||

#2  local banks, state banks, not national banks...seems like a no brainer
Posted by: 746 || 12/09/2022 13:01 Comments || Top||


Caucasus/Russia/Central Asia
Syrians, Afghans, North Koreans, and Iranians may enlist in Russian military, Tsyganok Says
Adding North Koreans and more to the mix. Interesting times, to be sure.
A view from Ukraine.
[EuromaidanPress] Russia is making it easier for foreign volunteers, such as citizens of Syria, Afghanistan, North Korea
...hereditary Communist monarchy distinguished by its truculence and periodic acts of violence. Distinguishing features include Songun (Army First) policy, which involves feeding the army before anyone but the Dear Leadership, and Juche, which is Kim Jong Il's personal interpretation of Marxism-Leninism, which he told everybody was brilliant. In 1950 the industrialized North invaded agrarian South Korea. Twenty-one countries of the United Nations eventually contributed to the UN force opposing the invasion, with the United States providing around 90% of the military personnel. Seventy years later the economic results are in and it doesn't look good for Juche...
, and Iran, to join the Russian military. However,
a clean conscience makes a soft pillow...
Kyrgyz and Uzbek-origin immigrants colonists may face criminal charges back home. This indicates experienced challenges in soldier recruitment and Moscow’s state of desperation in finding more bodies.

In an effort to replenish the dwindling ranks of the Russian army fighting in Ukraine, Moscow is making it easier for persons with dual citizenship to be drafted and serve. Additionally, it is also making it more straightforward for those with citizenship in other countries. They can volunteer for service in the Russian military.

As a result, Anatoly Tsyganok, a retired colonel and the head of the Moscow-based Center for Military Forecasting, says that “residents of Syria, Afghanistan, North Korea or Iran” could soon serve in the Russian military.

He claims that in March, some in the defense ministry estimated that "more than 16,000" foreign volunteers in the Middle East alone wanted to join the Russian military.

However,
facts are stubborn; statistics are more pliable...
far greater numbers are anticipated to join the Russian military due to three additional changes to Russian law.

First, Moscow can now draft residents of the Russian Federation with dual Russian-non-Russian citizenship.
Second, it promises to expedite the citizenship process for CIS who serve in the Russian military.
And third, it is removing many restrictions on foreign volunteers, which is reportedly unpopular with many commanders. They fear that an influx of such persons into the Russian ranks will result in a decline in unit cohesion. It can even open conflicts, as has already occurred.


Another constraint to this program is that some countries, including Kyrgyzstan and Uzbekistan, from which many immigrants colonists in Russia originate, have already warned their nationals that they will face criminal penalties. The penalties will be imposed if they participate in foreign government’s, in particular Russian military operation.

But the most critical aspect of this report is that it demonstrates just how difficult it is for the Russian authorities to raise forces through traditional means. For instance, it is challenging to draft and maintain the spirit of volunteerism among Russians. Additionally, Moscow is extremely eager now to do whatever it takes to find more bodies.
Posted by: trailing wife || 12/09/2022 00:46 || Comments || Link || [3 views] Top|| File under:


#2  Didn't Russia think of itself as a New Rome once upon a time? This sounds a bit like the old Rome here...
Posted by: James || 12/09/2022 11:25 Comments || Top||

#3  ^ After Ottoman Turk moslems conquered Constantinople the Russians figured they were in line to take over leadership of the Orthodox Church. It was then the Russian leaders started calling themselves Tsar or Czar which is derived from the Roman Caesar.
Posted by: Abu Uluque || 12/09/2022 14:14 Comments || Top||


Why Protests Have Hit Russia, China, and Iran (And Why They Will Be Hard to Stop)
[YouTube] If there was a single unifying element in world politics for 2022, it was protests. They are currently major news stories in China and Iran, they have been floating in the background of Russia since its invasion of Ukraine, and they have occurred sporadically in other countries throughout the world. This video explains why autocratic governments especially fear protests and what that means for the key countries in question.
Posted by: DarthVader || 12/09/2022 00:00 || Comments || Link || [1 views] Top|| File under:

#1  Just do what we do here, welfare and drug availability.
Posted by: Dale || 12/09/2022 9:57 Comments || Top||

#2  As the cold winter progresses and the bozo patrol shuts down food production, you will see more all over Europe. The EU is a totalitarian regime dressed in a business suit. Trudeau’s Canada is not out of the woods with regard to protests.
Posted by: Super Hose || 12/09/2022 12:32 Comments || Top||

#3  The rulers of Russia, China, and Iran are not likely to be constrained in using what ever is necessary to retain power. Coming to a neighborhood near you.
Posted by: Procopius2k || 12/09/2022 12:46 Comments || Top||


Cyber
How Google's Ad Business Funds Disinformation Around the World
[ProPublica] The largest-ever analysis of Google’s ad practices on non-English-language websites reveals how the tech giant makes disinformation profitable.

Google is funneling revenue to some of the web’s most prolific purveyors of false information in Europe, Latin America and Africa, a ProPublica investigation has found.

The company has publicly committed to fighting disinformation around the world, but a ProPublica analysis, the first ever conducted at this scale, documented how Google’s sprawling automated digital ad operation placed ads from major brands on global websites that spread false claims on such topics as vaccines, COVID-19, climate change and elections.
Continued on Page 49
Posted by: Skidmark || 12/09/2022 00:00 || Comments || Link || [2 views] Top|| File under:

#1  The claims by the Epoch Times about global warming are undoubtedly more correct than those of the anti-CO2 lobby, which assert that the world is endangered by its emissions.
It is in more danger from the follies being spawned by these clowns.
Their predictions in the past (no snow in Britain after 2010 or was it earlier) have always been ludicrously wrong where they could be tested.
Posted by: i forgot it || 12/09/2022 1:11 Comments || Top||


Websites are sharing data about consumers with Elon Musk's Twitter
[Adalytics] INTRODUCTION
When Elon Musk bought Twitter, he also bought a treasure trove of internet traffic data from websites like Reddit, NYTimes.com, Amazon.com, studentaid.gov (Department of Education’s Free Application for Federal Student Aid), and the website of Democratic Congressional Campaign Committee (dccc.org).

Government agencies, hospitals, over half of all US members of Congress, media publishers, and brands may not be aware that they are sharing terabytes of their visitors’ and audiences' data with Twitter.

The vast majority of these entities have not enabled Twitter's Restricted Data Usage (RDU) feature to set legal guardrails around what Twitter can do with that web traffic data.

On October 27th, 2022, Elon Musk completed an acquisition of Twitter. Some US Senators expressed national security concerns over how the deal was financed with capital from foreign investors, such as a holding company partly owned by Saudi Arabia’s sovereign wealth fund.

On November 1st, 2022, the Washington Post reported that:

“Experts on the foreign review process said of particular interest will probably be whether any of Musk’s foreign investors would have special privileges to access personal data about Twitter’s users. According to people familiar with Musk’s purchase of Twitter, those who invested $250 million or more have access to information beyond what a lower-level investor would receive. The Saudi and Qatari funds and Binance have invested above that level. But what that additional access includes is not known.” (emphasis added)

In the past, Twitter has suffered numerous data breaches, foreign espionage infiltration, been fined repeatedly by the FTC for consumer privacy violations, and has recently lost significant portions of its cybersecurity and regulatory personnel.

Over the next few weeks, several major brands and media agencies stated they would stop advertising on Twitter. On November 28th, Elon Musk tweeted that “Apple has mostly stopped advertising on Twitter”, a claim which was contested by ad analytics firm Pathmatics, whose data showed that Apple had continued to spend heavily on Twitter ads.

The New York Times reported on Dec. 2nd that "automakers are among the most concerned advertisers, with General Motors raising questions about whether Twitter’s data would be shared with Mr. Musk’s car company, Tesla, three people said." “It’s important for us to ensure our advertising strategies and data can be safely managed by a platform owned by a competitor,” a G.M. spokesman said in a statement.

Motivated by these and other events, Adalytics chose to use a different methodology to assess which brands and entities may still consider advertising on Twitter despite their public proclamations. This analysis focuses on both privacy implications and potential cybersecurity risk.

Adalytics analyzed web crawler data from hundreds of thousands of websites to determine which websites are still hosting Twitter’s advertising pixel. At least 70,772 websites were observed using Twitter’s advertising Pixel on their pages. Many brands that made public statements about suspending digital ads on Twitter - such as General Motors, Mondelez, Pfizer, and Volkswagen - continue to host the Twitter Pixel on their websites, which enables Twitter to collect information about visitors to these brands’ webpages. It appears that the vast majority of advertisers that use the Twitter pixel are not using the pixel’s “Restricted Data Use” privacy feature. Surprisingly, Apple (Twitter's biggest advertiser by spend) and Elon Musk’s own companies - SpaceX and Tesla - do not appear to host the Twitter Pixel on their websites. This is despite SpaceX recently ordering one of the larger advertising packages available on Twitter around November 14th, 2022.

Furthermore, many highly sensitive websites, such as goarmy.com, FBI.gov, and the website of the US Department of Homeland Security (dhs.gov), are hosting 3rd party Javascript code from Twitter on their websites without configuring content security policies or subresource integrity (SRI) hashes. This lack of security precautions could result in supply chain and code injection attacks on government properties if Twitter was ever compromised. British Airways and Ticketmaster both lost tens of thousands of consumers’ personal data after being breached through Javascript exploits, according to research by cybersecurity firm RiskIQ and BBC (respectively).

Courtesy of Skidmark: the Daily Mail’s take.
Posted by: Skidmark || 12/09/2022 00:00 || Comments || Link || [5 views] Top|| File under:


Economy
Major Economic Contraction Coming In 2023 – Followed By Even More Inflation
[Alt-Market.us] The signs are already present and obvious, but the overall economic picture probably won’t be acknowledged in the mainstream until the situation becomes much worse (as if it’s not bad enough). It’s a problem that arises at the onset of every historic financial crisis — Mainstream economists and commentators lie to the public about the chances of recovery, constantly giving false reassurances and lulling people back to sleep. Even now with price inflation pummeling the average consumer they tell us that there is nothing to worry about. The Federal Reserve’s "soft landing" is on the way.

I remember in 2007 right before the epic derivatives collapse when media pundits were applauding the US housing market and predicting even greater highs in sales and in valuations. I had only been writing economic analysis for about a year, but I remember thinking that the overt display of optimism felt like compensation for something. It seemed as if they were trying to pull the wool over the eyes of the public in the hopes that if people just believed hard enough that all was well then the fantasy could be manifested into reality. Unfortunately, that’s not how economics works.

Supply and demand, debt and deficit, money velocity and inflation; these things cannot be ignored. If the system is out of balance, collapse will set its ugly foot down somewhere and there’s nothing anyone including central banks can do about it. In fact, there are times when they deliberately ENGINEER collapse.

This is the situation we are currently in today as 2022 comes to a close. The Fed is in the midst of a rather aggressive rate hike program in a "fight" against the stagflationary crisis that they created through years of fiat stimulus measures. The problem is that the higher interest rates are not bringing prices down, nor are they really slowing stock market speculation. Easy money has been too entrenched for far too long, which means a hard landing is the most likely scenario.

In the early 2000s the Fed had been engaged in artificially low interest rates which inflated the housing and derivatives bubble. In 2004, they shifted into a tightening process. Rates in 2004 were at 1% and by 2006 they rose to over 5%. This is when cracks began to appear in the credit structure, with 4.5% — 5.5% being the magic cutoff point before debt became too expensive for the system to continue the charade. By 2007/2008 the nation witnessed an exponential implosion of credit, setting off the biggest money printing bonanza in US history in order to save the banking sector, at least for a time.

Since nothing was actually fixed by the Fed back then, I will continue to use the 5% funds rate as a marker for when we will see another major contraction. The difference this time is that the central bank does not have the option to flood the economy with more fiat, at least not without immediately triggering a larger stagflationary spiral. I am also operating on the premise that the Fed WANTS a crash at this time.
Posted by: Besoeker || 12/09/2022 01:53 || Comments || Link || [9 views] Top|| File under:

#1 
Looking more and more like 1914 to 1940''s History being repeated.

Coming out of a War & a Pandemic, the stock market is BULLY,
We have the Roaring "New Generation" 20's,
Inflation starts,
Banks fold (E-coins),
Stock Market crashes,
Depression sets in.

So who will the DC Swamp go to war with to recover this time?
Question: Can we win it, with what little we still can produce in the USA?
Posted by: NN2N1 || 12/09/2022 8:07 Comments || Top||

#2  WW II was not about "recovering" from the Depression. That was a nice knock-on effect of it, though.
Posted by: M. Murcek || 12/09/2022 8:12 Comments || Top||

#3  You can't be in an environment eyeball deep in printed money, and not be corrupt.
Posted by: badanov || 12/09/2022 8:13 Comments || Top||

#4  Our economic academics, Fed, and Treasury geniuses chose to ignore history.
Posted by: Procopius2k || 12/09/2022 8:46 Comments || Top||

#5  Ref #4: "Ignoring history"

Certainly the case regarding endless conflict in Afrika and the Hindu Kush
Posted by: Besoeker || 12/09/2022 9:01 Comments || Top||

#6 
Posted by: Skidmark || 12/09/2022 13:44 Comments || Top||

#7  ^ On a roll today...
Posted by: Frank G || 12/09/2022 14:25 Comments || Top||

#8  My Health Insurance going up 20%.

Yea!
Posted by: swksvolFF || 12/09/2022 16:46 Comments || Top||

#9  Just bought a couple tires. My hair almost fell out.
Posted by: M. Murcek || 12/09/2022 16:53 Comments || Top||

#10  Just got a haircut; can’t afford tires till payday…..
Posted by: USN, Ret. || 12/09/2022 17:16 Comments || Top||

#11  We buy cheaper cuts of meat when we're dog sitting. Sam never complains.
Posted by: Besoeker || 12/09/2022 17:43 Comments || Top||


Layoffs: Companies copy others 'in almost mindless imitation,' professor says
[FoxBusinessNews] The number of companies implementing layoffs is growing with most citing challenging economic conditions and recession fears as the driver.

Even with high borrowing rates and persistent inflation, Stanford Graduate School of Business professor Jeffrey Pfeffer noted that companies tend to copy each other "in almost mindless imitation."

"It is a process called social influence—people, including managers look to what others are doing (and saying) in a process of social contagion," Pfeffer said, adding that this can even occur with layoffs.

Dr. Yalda Safai, a psychiatrist based out of New York City, told FOX Business that panic, hysteria and anxiety are contagious.

With recession fears growing, "a lot of the companies, out of panic, started to lay off people," Safai said.
Posted by: Skidmark || 12/09/2022 00:00 || Comments || Link || [6 views] Top|| File under:

#1  The man who accuses business people of mindlessly following the leader seems to ignore the possibility that they show the same reaction to the data they see because of its nature, and not because of their stupidity.
They are aware that in a depression they will all be in danger. something he seems to believe is incorrect. Is he really wiser than them all at predicting the future?
Posted by: i forgot it || 12/09/2022 1:22 Comments || Top||

#2  Gee, most companies file their 'end of year' financial and prospectus reports at the same time. Something to do with legalities imposed upon them by governments at various local, state, and national levels.

With recession fears growing, "a lot of the companies, out of panic, started to lay off people,"

...or maybe it also has something to do with working the numbers on those reports and statements.
Posted by: Procopius2k || 12/09/2022 7:05 Comments || Top||

#3  They're all "influencers" - mindless imitators.
Posted by: Bobby || 12/09/2022 8:22 Comments || Top||

#4  With recession pandemic fears growing, "a lot of the companies governments, out of panic, started to lay off people declare businesses 'nonessential' and impose mask and lockdown orders," Safai said.

Just like C++ - reusable template code!
Posted by: Raj || 12/09/2022 9:13 Comments || Top||

#5  High incomes = increased overhead. Currently at this time degree or highly qualified now targets. When you have built yourself up you don't accept positions of lower incomes. This is hitting hard now. Merry Christmas.
Posted by: Dale || 12/09/2022 10:02 Comments || Top||

#6  Companies were stockpiling raw materials and people during the artificial demand spike caused by the governmental Covid stimulus pulled pork potluck. All of the current corrupt spending is being bazooka shot at Ukraine or handed over to “green” initiatives that are the equivalent of lighting the cash afire with respect to economic stimulus. All companies are shrinking inventories to normal levels. Why would there not also be a reduction of the inventory of labor? Can anyone make the case that Musk has whacked a single valuable employee?
During the Covid period where employers were competing against free money to stay home and play video games. Companies were happy to hire employees that could not qualify for unemployment checks because they had no previous record of holding down a job. In an economic downturn there is not a strong reason to hold onto unreliable team members that are being paid at inflated rates. Smaller companies have no need to do layoffs, they can just enforce their attendance policies.
Posted by: Super Hose || 12/09/2022 12:26 Comments || Top||

#7  Economies go through down-cycles from time to time and middle-management bloat is trimmed to proper levels. A number of companies that fly to close to the margin lines die. This is made far worse with inflation caused by insane spending on nearly everything.

Professors at Stanford Graduate School of Business should know all of that, but perhaps blinded by the necessity to protect politicians they favor they just can't.
Posted by: ruprecht || 12/09/2022 15:25 Comments || Top||

#8  Can anyone make the case that Musk has whacked a single valuable employee?

Leftwing Twitter fans do actually make that argument; I was told the entire accounting department quit rather than work for him, and therefore bills and payroll were not being paid. But the question is what it will look like six months from out, not what it looks like two weeks into the changeover.
Posted by: trailing wife || 12/09/2022 20:30 Comments || Top||


Government Corruption
President Biden giving nearly $36 billion to aid Teamsters' pension fund, with 25,000 participants in Illinois
It’s nice to be connected.
[Chicago Tribune] President Joe Biden on Thursday is announcing the infusion of nearly $36 billion to shore up a financially troubled union pension plan, preventing severe cuts to the retirement incomes of more than 350,000 Teamsters workers and retirees across the United States.

The money for the Central States Pension Fund is the largest amount of federal aid provided for a pension plan, the Biden administration said, and comes from the American Rescue Plan, a $1.9 trillion coronavirus relief package that he signed into law in 2021.

Many union retirement plans have been under financial pressure because of underfunding and other issues. Without the federal assistance, Teamsters members could have seen their benefits reduced by an average of 60% starting within a couple of years.
Posted by: Besoeker || 12/09/2022 01:41 || Comments || Link || [10 views] Top|| File under:

#1  Forget the Constitution and Congressional funding authorizations, this is COVID plandemic money. Political constituents must be paid !

(sarc off)
Posted by: Besoeker || 12/09/2022 1:45 Comments || Top||

#2  The death benefits need a boost.
Posted by: Jimmy Hoffa || 12/09/2022 3:46 Comments || Top||

#3  100%. And we still have a Fauci Flu emergency and any dough that goes with it. Joe said so (after saying the pandemic was over on 60 Minutes).
Posted by: DooDahMan || 12/09/2022 7:15 Comments || Top||

#4  Considering where the Teamster pension money went in the first place, this is a bail-out to organized crime.
Posted by: M. Murcek || 12/09/2022 7:16 Comments || Top||

#5  Without even reading the article or any details, you just knew Illinois was in the thick of this.
Posted by: DooDahMan || 12/09/2022 7:17 Comments || Top||


#7  So, when the fuck is this degenerate gonna cut me a cheque?
Posted by: Chris || 12/09/2022 10:57 Comments || Top||

#8  The money for the Central States Pension Fund is the largest amount of federal aid provided for a pension plan, the Biden administration said, and comes from the American Rescue Plan, a $1.9 trillion coronavirus relief package that he signed into law in 2021.

I mean, we all knew it would just be a huge slush fund, right? Just another way for Democrats to buy votes with money from the rubes taxpayers.
Posted by: Abu Uluque || 12/09/2022 12:30 Comments || Top||

#9  The checks will be cut until we are all holding Monopoly money. The pop-metal icon pieces will be worth more than our cash.
Posted by: Super Hose || 12/09/2022 12:35 Comments || Top||

#10  But no food for babies. Still.

Baby formula shortage will continue to wreak havoc on families in new year: ‘I’m beyond struggling’
Posted by: Skidmark || 12/09/2022 13:16 Comments || Top||

#11  Teamsters, didn't they man the ballot curing operations in Las Vegas and elsewhere? My figures suggest the Puppet Show is giving the pension funds over $100,000 PER MEMBER as a bailout! Coincidence?
Posted by: NoMoreBS || 12/09/2022 15:40 Comments || Top||


India-Pakistan
A saffron silence: Is it time for Pakistan to absorb Azad Jammu and Kashmir into the country constitutionally?
[Dawn] No one in New Delhi should mistake the seriousness of the COAS warning. It goes from one Caesar to another.
Painful Shakespearian similes skipped.
Recent changes at the top in the Pakistain Army resonate with similar Shakespearean undertones. Out of the list of the contenders for the post of COAS, the top two according to seniority were promoted CJCSC and COAS. Two other names, after a lifetime of professional service, volunteered to ’retire’, even though they had only a few months left to serve their country. Could they have been eased out? We will know only after history has lost its sting.

PM Modi has lost the goodwill initially earned by his predecessor Vajpayee.

Continued on Page 49
Posted by: trailing wife || 12/09/2022 00:00 || Comments || Link || [6 views] Top|| File under: Govt of Pakistan

#1  The rest is silence.
Posted by: Dron66046 || 12/09/2022 11:35 Comments || Top||



Who's in the News
46[untagged]
4Hezbollah
3Mob Rule
2Migrants/Illegal Immigrants
2Tin Hat Dictators, Presidents for Life, & Kleptocrats
1Govt of Pakistan
1Hamas
1Human Trafficking
1Islamic State
1Pak Taliban (TTP)
1Sublime Porte
1Taliban/IEA
1[untagged]
1al-Shabaab (AQ)
1Commies
1Govt of Iran
1Govt of Iran Proxies

Bookmark
E-Mail Me

The Classics
The O Club
Rantburg Store
The Bloids
The Never-ending Story
Thugburg
Gulf War I
The Way We Were
Bio

Merry-Go-Blog











On Sale now!


A multi-volume chronology and reference guide set detailing three years of the Mexican Drug War between 2010 and 2012.

Rantburg.com and borderlandbeat.com correspondent and author Chris Covert presents his first non-fiction work detailing the drug and gang related violence in Mexico.

Chris gives us Mexican press dispatches of drug and gang war violence over three years, presented in a multi volume set intended to chronicle the death, violence and mayhem which has dominated Mexico for six years.
Click here for more information

Meet the Mods
In no particular order...
Steve White
Seafarious
tu3031
badanov
sherry
ryuge
GolfBravoUSMC
Bright Pebbles
trailing wife
Gloria
Fred
Besoeker
Glenmore
Frank G
3dc
Skidmark

Two weeks of WOT
Fri 2022-12-09
  A Russian couple were detained by Mexican law enforcement in Tijuana, Baja California with $587,550 in cash with them
Thu 2022-12-08
  Five electricity substations in Oregon and Washington are attacked just days after two in North Carolina were shot up causing widespread power outages
Wed 2022-12-07
  Iraqi security arrests 11 ISIS terrorists in different governorates
Tue 2022-12-06
  ISIS Families Flee al-Hole In Syria's Hasakah
Mon 2022-12-05
  Suicide bombers in women's veils - ISIS claims Pak embassy attack
Sun 2022-12-04
  California man accused of throwing Molotov cocktail at police
Sat 2022-12-03
  Thread: THE TWITTER FILES
Fri 2022-12-02
  Army kills 40 terrorists in Somalia
Thu 2022-12-01
  3 teens among 15 Iranians facing death penalty over killing of paramilitary officer
Wed 2022-11-30
  BREAKING: Islamic State says leader killed ‘in combat with enemies of God’
Tue 2022-11-29
  Asayish arrests a group of 10 ISIS militants in Syria’s Deir ez Zor
Mon 2022-11-28
  500,000 posts
Sun 2022-11-27
  Senior Al-Shabaab leader dies of wounds in Somalia
Sat 2022-11-26
  Al Shabab claims to have killed 43 soldiers and wounded 51 more in a dawn attack on an army base in Qayib area near Bahdo town
Fri 2022-11-25
  Iran's IRGC Transferring Tanks to the Kurdish city of Oshnavieh in IRAN


Rantburg was assembled from recycled algorithms in the United States of America. No trees were destroyed in the production of this weblog. We did hurt some, though. Sorry.
18.117.118.239
Help keep the Burg running! Paypal:
WoT Operations (12)    WoT Background (11)    Non-WoT (17)    Local News (8)    Politix (7)