GLEANINGS FROM THE PASSING SCENE … (Politically Uncorrected)

alfred_e-_neumannThis week’s selections:

The speed of light: Not a constant after all?  Now questioned and an experiment is available. (When we can’t believe the news, why believe the physicists?)

Global warming is going off script again, per NASA measurements. Global cooling happening is apparently not news. (Running hot and cold, right?)

Egypt: Archeologists announced discovery of a previously lost, 7,000 year old city. (We’ll bet the politicians were crooked then, too.)

Chicago: 9 dead, 61 shot over Thanksgiving weekend.

Significance of the E.U.’s Uber case (Article) (How to suppress economic progress with politics …)

Will California plug its leaking pensions?

California is regulating  cow farts – really!

Mrs. Clinton’s lawyer  demanded that the Republican governor of North Carolina stop his recount, though the margin  is closer than the states where the Democrats are demanding recounts.

The culture: Two Los Angeles (black) women arguing over a parking space used their SUV’s to turn the parking lot into a demolition derby, repeatedly bashing their cars against each other. (If you’re not surprised that they were black, you’re a racist, right?)

Auto loan delinquencies are scaring some folk now at six million. (Report)

How Asians  rose in America – while blacks bottomed out. ((Opinion)

Watching a virus adapt itself to new conditions in plain sight …  claimed as speciation

Rats use tools too …(Critters are smarter than we wish to admit)

Women and men see faces differently (Study) (How will feminists bury this one?)If that isn’t  enough, they hear consonants differently too.

U.S. Household debt: $12.4 Trillion, U.S. national debt: $19.9 Trillion, Total: $32.3 Trillion.  (Suggest that the average U.S. household owes some $258,400 plus interest.  And Trump will borrow more?)

Univ. of Calif. President Napolitano ordered campus police not to enforce immigration law.

China: Update (Long article)

Venezuela: Hyperinflation has arrived. (Report and chart)

  U.S. Treasury Bonds: Becoming harder to sell?  (Is financing with debt becoming riskier?)

India: The war on cash proves troublesome? (Report)

China is imposing limits on Yuan outflows for the first time in two decades. (Rich Chinese getting scared?)

Caterpillar: Cutbacks coming; (Trump’s infrastructure construction promise doesn’t impress?)

New record 95,055,000 are not in the labor force. (Report) (Hmmm … Reinventing the housewife?)

U.S. Navy’s newest ships are a costly failure? (Report) (Politics plus corruption ain’t  cheap nor useful)

U.S./German spy agencies  conspire together to avoid their own governments’ controls? (Report) (Ask Snowden)

The culture: A New York City subway seat dispute cost one man part of his ear and he and another man beatings and a pepper spraying. (Well, nobody was shot … this time.)

Sex robots are being touted to allow kinky couple threesomes without jealousy….

Moslem terrorism: World Update (Article)

Fewer than 200 recent Federal regulations have added over $100 billion in regulatory costs since 2009; the bureaucracy is now more powerful than Congress. (Article)  (And a lot less responsive, too)

The future of Capitalism – if it has one. (Article)

Will Italy follow Greece down, then out? (Article: Italy’s weekend referendum)

Antarctic 1901 expedition logbooks deny changes in Antarctic sea ice claimed by global warming advocates. (Report)

Hawaii Weather warning: “Icy and dangerous conditions” (Report) (Not joking)

A $6.1 B military spending bill easily passed in the House, rebuffing Obamafolk attempts to make cuts.  (Report) (As usual, none worried where the money will be found)

High school students made a new, $750/pill drug for $2/pill in Australia. (Report)

New York City’s current traffic nightmare is deliberate; the city wants folk to use bikes and subways. (Report)

Indonesia: Some 200,000 Moslems protested their Christian governor’s alleged blasphemy – he criticized claims that Moslems could not have a non-Moslem leader. (Report) Well, beats beating him to death as happens in other parts of Islam.)

A naked news channel in Canada provides its reports and interviews via entirely unclothed women…. (Report)

Trump’s Carrier deal was “crony capitalism” per Sarah Palin. (Good politics, lousy economics – make the taxpayers pay for keeping U.S. jobs as a high cost producer.)

A topless driver crashed into a police car while sending selfies to her boyfriend.

 

And thus it was, as we saw it …

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GLEANINGS FROM THE PASSING SCENE … (Politically Uncorrected)

alfred_e-_neumannOur selections of information:

India’s war on cash proceeds chaotically….

The REAL “Fake News” list, as seen by Ron Paul, retired and clear eyed Congressman.

Admission: The Clinton polling leads were fake.  (Report)

Los Angeles is following Chicago (and others) down the unaffordable pension financial drain. Dallas
seems to be joining the death march, another victim of the Federal Reserve’s prolonged low interest rates that have decimated pension investments. (Taxpayers have a lot to look forward to …)

Trump  will inhabit the White House; his wife and son will join him after his son’s school year ends Despite reports, he won’t spend par time in New York. (Repoet)

The culture: Police officers have been shot in Florida, Texas and Missouri. Another was shot in Michigan.

This website will explain how you are monitored on internet sites as you browse.  (Might surprise you)

Twitter bans politically right wing accounts while allowing child pornography? (Report)

Chicago: Murders still outpace those in Los Angeles and New York combined.  (Report)

The War on Cash is about to accelerate in the U.S. and elsewhere. (Report) The war on cash spreads: As India staggers, Mexico and Australia are infected and a warning is passed. (Article)

Trump’s spending plans lack any source for the funds to be spent. (Report)

U.S. stocks are surging, awash in Trump promises. (Report) (In an unimproved real economy, it can’t reflect real value increases, seems to us.  Double, double, stock market bubble …)

“What Happens Next?”  (The bond market as financial harbinger)

3000 homeless were denied a traditional free hot meal by government regulators.

Yemen  (Update on Iran/Shia vs Saudi/Sunni Yemeni civil war)

The Obamafolk continue denying Congress details of the Iran nuke deal. (Report)

The culture: “Ice cream for breakfast makes you smarter” – Japanese scientist. “Trade with China kills Americans” – economist.

Quieting the Battlefield: Newly quieted infantry weapons may pay off in improved battlefield communications. (Report)

The US Navy’s new $4 billion stealth warship broke don – again. (USS Zumwalt is the ship with guns so special that ammo costs $800,000 per shot, so it is not being bought by the Navy.) (Report)

Illinois sinks further into its debt swamp – now it’s running on its vendors’ money.

Germany’s Merkel and the E.U. are talking up censorship to “protect” free speech? (Report)

The US government wants phone makers to lock out most apps for drivers? (Report)

The culture: A bus driver looked on as black teens attacked white schoolgirls on his New York City bus. (Report)

Turkey: The European Union froze talks on EU membership over deteriorating human rights under President Erdogan’s rule while the Turkish Lira was contested between Erdogan and the Turkish central bank.

E.U. politics vs economics: Is Uber a transportation company or an internet service? Europe’s top court will decide on the direction of Europe’s economic future.

“Fake News” is becoming anything with which the political Left disagrees….

Arab arsonists are being captured setting more fires in Israel as burned our refugees multiply.

Britain: Almost unlimited government snooping is authorized by a new law.

Booze makers are sweating the arrival of legal pot…. (Competition …)

A naked man was arrested after he charged an officer on a busy Atlantic City roadway.

Chicago: 4 dead, 31 wounded in Thanksgiving shootings.

Und das ist alles …

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GLEANINGS FROM THE PASSING SCENE … (Politically Uncorrected)

alfred_e-_neumannHere’s the week that was, believe or not as you prefer:

The U.S. Navy’s new, high tech destroyer requires unaffordable ammo for its guns?   Now that the ship is built, turns out ammo costs $800,000 per shot. (Report)  (And government will save us, right?)

Trump may not become a full time resident of the White House? (He plays golf, too.)

A Boston law firm paid members bonuses equal to their political contributions. (Report) (Salaries are tax deductible; political donations aren’t … like Hillary’s expensive Wall Street speeches)

“Dark Money” – Hiding millions of dollars of political contributions. (Short article)

“Protester” has become a paid occupation? (Report) (Have gun, will travel …)

Global cooling over the last 8 months set a new record, (Satellite report)

Turkey’s crackdown on dissent was mildly criticized by Europe. Turkey’s president responded with the diplomatic finger …

A woman was arrested after tigers, a cougar, skunk and foxes were found roaming her home. Oh, and a teen daughter too. (No elephants?)

Marriage/family values continue to divide Catholics. (Report) (End of the Christian era?)

Reality attacks the European bond market. (Report) (A cloud on the financial horizon, a lot larger than a man’s hand …)

Our historic, oncoming and irresistible return to poverty. (Article)

France’s Sarkozy urged a tax on U.S. goods if Trump exits the Paris global warming deal. (Like the Smoot-Hawley tariff that worsened the Great Depression?)

A husband used a drone to catch his wife cheating on him. (Learning from the government …)

Trump’s new Chief of Staff is an ally of House Speaker Paul Ryan?? (Report) (Hmnn …)

60% of the Portland anti-Trump rioters were from out of state. (Report And most didn’t vote.)

The newly reported Permian shale oil field discovery is the largest in the U.S. (Report) (Will Saudi oil remain cheaper?)

Toy guns are being banned from Baltimore when they resemble the real thing. (Report) (Should be interesting)

The culture: A thief stole a woman’s wheelchair.

China is urging cooperation in governing the newly international internet. (Report) (The FCC is likely working on it)

Left-leaning internet giants Google and Facebook and Twitter will curb “fake news” sites i.e. those  leaning right? (Report))

India’s war on cash is about to be joined by a war on gold. (Report) (We assume using the resulting black market will be a capital offense.)

U.S. industrial production continues sluggish. (Report)  (Recovery proceeds …)

Why Trump (or anyone else) must fail. (Short article)

McDonald’s plans the start of mobile ordering in the U.S. next year. (Report) (But can they download the burger through a smartphone?)

U.S. government (NOAA) temperature reports are fraudulent again? (Report) No thermometers exist in some reported areas and satellite measurements disagree.)

Horse meat provider busted in police sting. (Can’t even choose our entrée anymore!)

Refugee camps in Greece are boiling. (Report) Somehow that’s news, but those all over the Middle East, in Turkey, Africa and Asia aren’t?)

Volkswagen will drop 30,000 workers.  (Report) (More recovery news)

Germany’s Chancellor Merkel said in an appearance with President Obama that  the internet is “a disruptive force that has to be contained.” (Report)  (What you don’t know won’t hurt us)

A DNA editing breakthrough holds promise for solutions to incurable genetic diseases.  (Report)

DuPont will eliminate its pension and medical/dental retirement coverage of active workers.(But the jobs aren’t going to China … yet)

Leftish rent-a-mobs are reportedly now organized and paid to impose the desires of folk whose political representatives have failed election. (Also descried as a “continuance of politics using other means, right?”

The smug blindness of the Republican establishment … (Article)

“Post-truth:” How moral relativism drove objective truth from public discourse. (Article) (And we could keep our doctors, right?)

Russian airliner met by Swiss jets over Switzerland. (Report)  (Switzerland sends a message to Russia.)

The United Kingdom opened private communications and transaction to functionally unlimited government snooping. (Murphy rules …)

A European Union commission wants British news to hide Muslim affiliation when reporting terrorism.

Chicago: 5 dead, 32 wounded in weekend shootings.

Apparently, everyone doing anything interesting remained clothed this week.

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Just Because It’s Trump – Doesn’t Mean It Ain’t Snake Oil …

trump-snake-oilPolitical lefties solve problems by spending taxpayers’ money, hence the term: “tax and spend Democrats.” The Left has been reinforced in this by J.M. Keynes economic refutation of Adam Smith, providing us with “Keynesian economics” as the blessing of government spending as economic stimulus. A doleful economy results from too little demand by consumers; if government replaces that missing demand for a bit, the Keynesians argue, the consumers will be restored to financial health and come back to normal spending, all will thereafter be will. Sure.

The fallacy of this nonsense was clearly stated by economist Frederic Bastiat in 1850.In short, the government can only spend what it extracts from the crippled economy, an economy troubled by having insufficient money to spend. After all, most folk with money to spend, do spend it. When they lack money, they spend less. If the government takes more from them so it can spend, or loads them with future debt, those hardly motivate the taxpayers to act as though they were suddenly rich. Keynes and his subsequent politicians like to bring up the spending that dumps money into the economy while ignoring the inconvenient reality that the money involved was first subtracted from the ailing economy by taxation or by imposing new debt. In our favorite analogy, giving a patient a blood transfusion of blood first drained from him.

So Mr. Trump’s plan to reduce taxes with current government deficit spending, and his plan to spend heavily on roads, bridges and other state infrastructure is good Lefty politics if somewhat overstated Keynesianism. However, it ignores the unpleasant reality that public and private debt are already too high to be repaid and that government deficits are already guaranteeing yet more debt to keep Social Security, Medicare, Medicaid, Obamacare and our various wars around the world alive. Adding the new spending will accelerate the deficits until simply, no one will loan the government any more money.

In response to that, the Federal Reserve is already a source of new funds to the government – funds newly minted from nowhere – and the elimination of cash is touted. Those will combine to put government in control of all the wealth but for any goods exchanged in barter. After all, if all payments are limited to electronic means subject to government access, that government is in control. Sweden and India are already moving to this. It is clearly too appealing for any government to resist.

If these were not intended, we would expect to hear Mr. Trump/Mrs. Clinton pointing to the need to curtail the deficits and presenting their lists of exactly what government expenditures to be cut.  From there, we would hear of the taxes to be dedicated to repaying the already accumulated $19 trillion of national debt. We note here that state, local and personal taxpayer debt aren’t included her, but reality will do so at the appropriate time.

Some have told us that we needed to vote for Mr. Trump to escape Mrs. Clinton. When asked  what they expected Mr. Trump to do for them under our present conditions, no answer came.  Better the demon that you don’t know than the demon that you know, apparently. It will be interesting, unfortunately in the usual Chinese sense, to watch the result, seems to us.

In India, the government’s move against cash immediately produced a run on gold accumulation; the government quickly moved against gold in private hands. Channeling the government of President Franklin Roosevelt in 1933.  It can be difficult to maintain individual freedom to act as a government becomes functionally totalitarian….

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Trump or Clinton: The U.S. Taxpayer is Holding the Bag …

trump-snake-oilGovernment bookkeeping is, like most else controlled by politicians, misleading. Presently, it says that the government’s debt (to be repaid by taxpayers) stands around $19 trillion. It also says that the U.S. economy is growing, if slowly, thanks to government (and Federal Reserve) stimulus. That is very dishonest. It is plain false. But the government is in charge, and few dare to argue these days.

Consider: If you borrow the money to buy a car or a house, you do not own the car or the house until you have repaid that debt, plus interest. In fact, if you fail to pay, your lender may take the car or the house from you to satisfy your obligation. Because it was the lender who actually paid for it, so long as the debt remains outstanding.

So, when the government borrows from taxpayers to spend money, that portion of the Gross National Product funded by debt to taxpayers is a false gain when it is included in economic growth. It will truly be included in growth only when the debt that financed it is repaid, but government bookkeeping doesn’t show it that way. That would be inconvenient for politicians. Very inconvenient today, it would convert sluggish economic growth into real economic decline. That would be too disturbing for taxpayers who are also voters. It could confirm their vague impression that they aren’t doing so well as they are supposed to believe.

In short, if you had to borrow $19 trillion in order to show GDP growth, then you should subtract $19 trillion from that growth to arrive at your true accomplishment. You can’t own your new car if the lender still owns it. So, current sluggish economic “growth,” since it includes government spending of borrowed money, is overstated, a hoax. Though carefully unpublished, the GDP net of borrowings would show not growth, but stasis at best. A detailed explanation is here.

No one, not Trump and not Clinton, can make this mountain of debt vanish. It will either be taken from the assets of future taxpayers, with interest, or it will reduce the market value of existing wealth in an equivalent of bankruptcy. We face what accountants might call “sunk costs.” They won’t go away by themselves. Given their magnitude, they will burden the children and the grandchildren of present taxpayers, who seem to have thought that they were receiving goodies at the expense of someone else.

Reality sucks, but no one has found a replacement for it.

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GLEANINGS FROM THE PASSING SCENE … (Politically Uncorrected)

alfred_e-_neumannOur news collection sits below. We noted while collecting that government security agencies and the media tend to see the Tea Party and such folk as “right wing extremists” who are security threats while active rioters destroying property and bating up people who support Trump are just “protesters”.

President Obama encouraged illegals to vote: (Video)  (Report)  (What is truth? Asked Pontius Pilate …)

 South Korea: Huge street protests over president’s relationship with cult leader who has become rich. (Report) (Koreans protest what would get an American nominated for the prsidnecy?)

The Clinton “charitable” Foundation paid for Chelsea’s wedding, according to an email from a top Clinton aide. (Wikileaks report)

Warthogs die hard: The ongoing saga of the A-10, infantry’s friend, the Air Force’s best hated aircraft.

Governor T. McAulife (D) of Virginia pardoned 60,000 felons just in time to affect the election, if they vote for Hillary. That needed a robot signature machine, as each pardon required a separate signature by the governor … (Report)

American government workers now outnumber U.S. manufacturing workers by nearly 10 million. (Why ain’t Americans livin’ highe?)

The culture (in India): A black witch/priest dismembered a 4 year old girl as a sacrifice for locating a local teen’s lost cellphone.

India joined the war on cash, using corruption as the excuse; the 500/1,000 rupee notes will be illegal. (At 66.5 rupees/dollar, only pocket change remains) Indians respond with a rush for gold. Chaos has appeared as ATMs run dry. (Warning: Elections can be dangerous for your wealth)

The culture: A California mom faces jail for selling homemade ceviche via Facebook. (Government job creation)

“The Death of Polling” (Article) (Political polling, anyway …)

Newsweek magazine was forced to recall its presidential election edition – it displayed Hillary Clinton on its cover. (Oops …)

The culture: Young black men viciously beat a white man: He voted for Trump. The Left’s “Ren-A-Mobs” react to Trump’s win with street violence. (Entitlement in action) A California high school girl was beaten for a tweet supporting Trump.

Trump to spend more than Obama? (Some bond marketinvestors seem to expect that.)

Chelsea Clinton will run for Congress? (Report) (Entitlement is heritable, right?)

The New York Times publisher vowed to rededicate the paper to honest reporting. (Hmnn … Was the vow made under the old or the new paradigmt?)

The culture: Sex robots will be mind blowing in bed, per developer. (Report) (Will they include an LGBT selector?)

Trump is the prime target of powerful interests seeking influence as he forms his new administration. (Article)  Whom he empowers will be telling …)

   Oregon joined California in pushing a post-election plan to secede from the U.s.  (Meet us on the beach at Las Vegas after the earthquake might do nicely)

A naked man dancing on a statue in the middle of a lake had just driven 134 mph through a 35 mph zone, crashing 4 cars and killing a woman. (Probably Trump’s fault, right?)

Ruminating: These are the items that caught our eye; what caught our thoughts was: Electing a politician never solves anything important….

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Trump: Will the Wizard’s Magic Save Us?

wizard-of-trumpWe, in our collective wisdom, have elected the Wizard who appeared so magically before us. But if elections can be magical, not so will be serving as President of the United States in 2017. The Wizard of Oz proved a humbug; Trump’s many opponents advertised the same for him. They also said that he couldn’t win first, the candidacy and second, the Presidency. Hmnn…

We have written of America and the world’s unsustainable finances, of America’s dissolving society, of the ongoing impoverishment of the evaporating middle class. Of the military decline resulting from the economic enervation and of how it encourages once quiescent local bullies around the world. Any power vacuum is always promptly filled from the nearest source. None of these have been held up during the juvenile magic show of election; none are susceptible to magic. How should we expect President Trump to face them, without his magic wand? And with nearly the same Congress that so clearly wished for someone else, not Trump in the White House.

We have no idea what President Trump may do; we think his electoral promises were unrealistic populism. Mexico will not erect a border wall, though the currently relatively open U.S. border will have to be plausibly addressed after so many public statements from Trump. However, that address may stop dead in an unwelcoming Congress still populated with establishment Republicans. We will have to see. A president can order tightening by the Border Patrol on his own. But reducing the supply of cheap labor leaves U.S. industry, what remains of it, stuck with high labor costs and unable to compete on world markets. That is why GM now makes more cars in China than in the U.S. And it is why there are nine million more government workers than manufacturing workers in today’s America. Mr. Trump could use some magic, were it available.

We await with interest his selections of his cabinet. Our general view of such things suggests to us that, if we readily recognize the names as they are announced, that will signify that we have been had, Mr. Trump has sold us an interest in the Brooklyn Bridge. If they aren’t the usual familiar hacks, we will have to await developments but perhaps with a smidgen of hope. Current speculation seems pessimistic to us.

We await with much more interest our new President’s first budget. Will he rein in the deficits that already burdened U.S. taxpayers with more debt than they will ever repay or will he maintain the present Social Security, Medicare, Medicaid, student loans, substandard home mortgages and military spending that are hollowing the U.S. economy? If he does the first, he will be depriving already stretched citizens of support long provided by Democrats; if the second, he will push the economy further toward ultimate collapse. Which will he choose? We’ll bet on that one….

He has two choices with our recent years of perpetual war abroad; he can bring the troops home instead of shooting foreigners into proper democratic societies, resulting in Russia, China, Iran and other bullies moving in, or he can again, continue printing and borrowing nonexistent money to proceed as have his predecessors. Up to that final existential financial crash. Hobson’s choice again. The same dilemma that has paralyzed the Federal Reserve for so long.

Adding it up, we guess that President Trump will find himself in the same insoluble cleft that awaited a President Clinton, a choice between financial collapse now or not too much later. Our new President Elect may easily find himself blamed for a new Great Depression, a new edition of Herbert Hoover from 1929. Or he may prefer to be the new edition of Franklin Roosevelt by hiding his troubles behind WWIII, as we have written earlier.

It may be helpful to inquire into the histories of some of President Trump’s cabinet folk: Is his new Defense appointee tied to the military or the defense industry? Or is he a bean counter with no particular regard for old President Eisenhower’s “military-industrial complex”? Is his Treasury appointment another of our long line of Wall Street bankers or someone wedded to a balanced budget? President Elect Trump has spoken against the billions of dollars wasted upon a fictitious global warming; will his Secretary of Energy and environmental folk reflect that? And finally, our new President has demanded the repeal of Obamacare but also promised that: “… every American family will have healthcare”. What sort of background will the new health czar bring to Washington?

We should know some of this soon. And we are confident that we have elected a humbug, as we would also feel had his opponent succeeded instead. Now it remains only to determine exactly what sort of humbug….

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