Our thoughts

US:

I sat with a guy on, on a telephone and he’s telling me, he said, “I don’t always,” he said, “Look, I, I, I, I, I, I’m, I, I worked at the hospital.” And he said, “Then I, I got, I got myself a position where I got the virus so they quarantined me and, and they put me in the hospital, and I made it out and so I’m out [slurp]. But they don’t want me with my family. I’m on the third floor. I spent 15 minutes on the phone with them saying,’ he said, ‘I have a three-year-old and a four-year-old. They come to the door outside and they just knock on the door and say ‘Daddy, Daddy, can I see you Daddy, can I see you Daddy?’ So we spent time going through it [slurp], I used to do with my kids when they were little and I couldn’t see them and we’d play games. I said, “Knock, make up a game, knock, knock on the door and say this is, you know [slurp].” [incomprehensible] This is practical things, the guy’s scared to death. And he’s worried about his children, he’s worried about his wie [sic]. I mean, these are practical things. And the president talks about this like, “OK, it’s gonna be OK. We’re gonna open tomorrow. We’re gonna do this.”

Or maybe it’s just this or this from PW. Or maybe this from PA. BTW, Xi Jinping is looking not too good – a bit like those early Bond guys from the early 1960’s.

BTW, we have no idea what this is, but maybe we’ll get back our eyesight. Or this…

2 Responses to “Our thoughts”

  1. feeblemind Says:

    It boggles my feeble mind that the Dems would field a mentally incompetent candidate for POTUS.

    Who’d a thunk it?? What must the rest of the world think?

    Worse yet, how could voters even consider voting for someone in this condition? And yet, 10s of millions will. And he could win.

    It’s dumbfounding.

    re BTW, we have no idea what this is,

    Hey, it’s the Counterfeit News Network. What do you expect?

    re Coronavirus

    We are all just along for the ride at this point. I just hope the economy doesn’t tank as badly as I fear it will.

  2. feeblemind Says:

    The “Iron Law” Of Oligarchy – Always Pick The Policy-Makers

    “The iron law of oligarchy” is a political theory, first developed by the German sociologist Robert Michels in his 1911 book, Political Parties.

    It asserts that rule by an elite, or oligarchy, is inevitable as an “iron law” within any democratic organization as part of the “tactical and technical necessities” of an organization.

    . . . Michels argues that democratic attempts to hold leadership positions accountable are prone to fail, since with power comes the ability to reward loyalty, the ability to control information about the organization, and the ability to control what procedures the organization follows when making decisions.

    Stiegler refines the Iron Law of Oligarchy, in his Theory of Economic Regulation, also suggesting that the big guys will always win and the little guys will always lose.

    This is made crystal clear in the financial crisis of 2008 and the current economic collapse. In 2008 the perpetrators of the reckoning were provided with cheap loans that negated free market forces while rewarding excessive risk taking. This free flow of cheap money continued for the next decade. Financial markets as an efficient pricing mechanism of the productive allocation of finite resources died in 2008. What we were left with was a clear display of The Iron Law of Oligarchy.

    Millions of young Americans were inundated with loans that could not be absolved even through bankruptcy. While they took these loans of their own free will, they were entering adult life during the greatest economic failure of all time and so most were left with very few viable alternatives. The $1.8 trillion in student loans provided a huge boost to corporate earnings as about only half of borrowing goes to tuition. So about $900 billion was spent at Walmart, Target, etc., and lots of consumer goods were consumed. That consumption transferred cash to the top line of S&P 500 income statements. And while the cash from the loan was transferred to corporations, the obligation remained with America’s youth.

    In today’s crisis we see that financial markets received enough support to prop market capital within short reach of all time highs despite the economy seeing 22 million working Americans filing for unemployment. Policy makers first response to the crisis was to quickly allocate $5 trillion to a relatively few financial firms in order to prevent them from having to take losses on their speculative trades. These firms used the cash to re-inflate market prices, which created profits, from which they paid back the loan via the repo market.

    On the other hand, it took several weeks for policy makers to allocate only $350 billion to support the government forced closure of around 20 million small businesses. This relatively small funding allocation ran out after 1.5 million small businesses received assistance.

    Policy makers are yet to agree on a second bill to increase funding while many small business owners are left with $0 in the bank to feed their kids, pay their bills and wonder how they are going to recover. Imagine the stress. No seriously, pause and imagine the soul crushing stress they are living with every minute of every day. Yet policy makers are choosing to remain on break until early May. You can be certain if the banks or hedge funds were in trouble a bill would be passed immediately.

    . . . Policy makers pick winners and losers. Oligarchs pick policy makers.

    https://www.zerohedge.com/political/iron-law-oligarchy-always-pick-policy-makers

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