[News] Post a Political News Story

Ongoing discussion of the political news of the day. This thread is for 'smaller' stories that don't call for their own thread. If a story blows up, please start a new thread for it.

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Gremlin wrote:

It's a state seat, not a national one, but still:

Jones told the Sun-Times he is a former leader of the American Nazi Party and now heads a group called the America First Committee. “Membership in this organization is open to any white American citizen of European, non-Jewish descent,” he said.

The power of fear legitimately boggles my mind.

Stengah wrote:

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Whew, thanks. That joke was just hanging out there, waiting.

The e-trade Super Bowl ad was good, but really depressing.

The message is, “You live in a libertarian hellscape without proper pensions. Time to gamble your meager wages on the stock market before you die at your post as a Walmart greeter”.

I like the idea that 1/3rd of Americans not having a retirement fund is because of improper planning rather than systemically low pay for vast swaths of those working.

I'm pretty sure the libertarian response is that you could afford a retirement plan if it weren't for all those taxes.

Also that you could probably sell your organs and auction all your free time off in the gig economy if there weren't so many rules in the way. I mean, they would do those things if they'd ever needed to, which they haven't.

Retirement is only expensive because government programs like Medicare keep unproductive citizens alive longer than the market dictates.

The libertarian response is that the American financial system is designed to penalize saving - that's why so many people struggle with it. A permanently inflationary currency means that just saving isn't enough, and you are forced to take risks in order to get a return that exceeds inflation. Every time you hear someone say "we need to stimulate demand", translate that to "We need wage-earners to go deeper in debt and take more risks that we can continue getting rich off of them".

There are definitely taxes that make retirement more expensive, like property taxes, but the major government influence on retirement cost is the extensive distortion of the healthcare market. Medicare/Medicaid is certainly a contributor to that, but the restrictions on healthcare competition are probably a bigger issue in the long run.

Libertarianism would solve all that by just forcing people to shoot each other for resources while robber barons watch in glee from behind 30 ft tall walls.

Aetius wrote:

Medicare/Medicaid is certainly a contributor to that, but the restrictions on healthcare competition are probably a bigger issue in the long run.

Can't get a fair valuation on my kidneys.

ClockworkHouse wrote:
Aetius wrote:

Medicare/Medicaid is certainly a contributor to that, but the restrictions on healthcare competition are probably a bigger issue in the long run.

Can't get a fair valuation on my kidneys.

I’ll give you $10 for both. Take it or leave it.

Okay, for one, you won’t be able to sell your kidneys. They belong to the shareholders of whichever corporation runs your sector, just like all your other organs. You could possibly re-mortgage your kidneys for a slightly better rate if the market is looking up, but if you don’t get that paid off by the time you’re deceased you run the risk of your children inheriting your organ debt on top of their own.

Aetius wrote:

Every time you hear someone say "we need to stimulate demand", translate that to "We need wage-earners to go deeper in debt and take more risks that we can continue getting rich off of them".

Almost every time I ever hear someone talking about stimulating demand it is in the context of a discussion of giving much more money to the non-rich, and changing policy and taxation that works to continue to widen income inequality so that the middle and lower classes are struggling so much. It's not about forcing them to spend more on their current wages, it's about giving them the increased money they need to both spend more AND save more.

ruhk wrote:

Okay, for one, you won’t be able to sell your kidneys. They belong to the shareholders of whichever corporation runs your sector, just like all your other organs. You could possibly re-mortgage your kidneys for a slightly better rate if the market is looking up, but if you don’t get that paid off by the time you’re deceased you run the risk of your children inheriting your organ debt on top of their own.

Repo: The how to guide for an American Society.

Spoiler:

Nah, look it up on your own, Zydrate Anatomy

wow that's more selacious than I remember.

Yonder wrote:
Aetius wrote:

Every time you hear someone say "we need to stimulate demand", translate that to "We need wage-earners to go deeper in debt and take more risks that we can continue getting rich off of them".

Almost every time I ever hear someone talking about stimulating demand it is in the context of a discussion of giving much more money to the non-rich, and changing policy and taxation that works to continue to widen income inequality so that the middle and lower classes are struggling so much. It's not about forcing them to spend more on their current wages, it's about giving them the increased money they need to both spend more AND save more.

That's what they say, but an unrestricted economy would be better for everyone, a rising tide for all boats. Unfettered capitalism for (technically) unfettered people!

We probably do need a separate libertarianism/capitalism thread.

Meanwhile, rearranging the deck chairs wasn't enough to convince the The Fed that Wells Fargo was doing enough:

Responding to widespread consumer abuses and compliance breakdowns by Wells Fargo, Federal Reserve restricts Wells' growth until firm improves governance and controls. Concurrent with Fed action, Wells to replace three directors by April, one by year end

An ‘Iceberg’ of Unseen Crimes: Many Cyber Offenses Go Unreported

Utah’s chief law enforcement officer was deep in the fight against opioids when he realized that a lack of data on internet sales of Fentanyl was hindering investigations. So the officer, Keith D. Squires, the state’s public safety commissioner, created a team of analysts to track and chronicle online distribution patterns of the drug.

In Philadelphia, hidebound ways of confronting iPhone thefts let thrive illicit networks to distribute stolen cellphones. Detectives treated each robbery as an unrelated street crime — known as “apple picking” — rather than a vast scheme with connected channels used by thieves to sell the stolen phones.

And in Nashville, investigators had no meaningful statistics on a nasty new swindle of the digital age: The “cheating husband” email scheme. In it, anonymous extortionists mass email large numbers of men, threatening to unmask their infidelities. The extortionists have no idea if the men have done anything wrong, but enough of them are guilty, it turns out, that some pay up, sometimes with Bitcoin.

Each case demonstrates how the tools used to fight crime and measure crime trends in the United States are outdated. Even as certain kinds of crimes are declining, others are increasing — yet because so many occur online and have no geographic borders, local police departments face new challenges not only fighting them, but keeping track of them. Politicians often tout crime declines without acknowledging the rise of new cyber crimes.

Gremlin wrote:

And you thought Roy Moore was bad.
Holocaust denier poised to claim GOP nomination in Illinois race for Congress

Arthur Jones — an outspoken Holocaust denier, activist anti-Semite and white supremacist — is poised to become the Republican nominee for an Illinois congressional seat representing parts of Chicago and nearby suburbs.

It's a state seat, not a national one, but still:

It's a national seat—mine. Incumbent is a DINO.

Yonder wrote:

It's not about forcing them to spend more on their current wages, it's about giving them the increased money they need to both spend more AND save more.

Savings don't impact GDP, and thus by definition cannot be stimulative. When politicians talk about this, you can be assured that they don't intend for anyone to save anything.

Aetius wrote:
Yonder wrote:

It's not about forcing them to spend more on their current wages, it's about giving them the increased money they need to both spend more AND save more.

Savings don't impact GDP, and thus by definition cannot be stimulative. When politicians talk about this, you can be assured that they don't intend for anyone to save anything.

I think the point is the increased money is stimulative because their spending power goes up, AND some portion of it may be saved which is a blow-by benefit in addition to the stimulation. It is ridiculous to suppose someone already below a livable means would then save all of an increase they receive. The point is to raise them up to a level where some saving is possible.

wordsmythe wrote:
Gremlin wrote:

And you thought Roy Moore was bad.
Holocaust denier poised to claim GOP nomination in Illinois race for Congress

Arthur Jones — an outspoken Holocaust denier, activist anti-Semite and white supremacist — is poised to become the Republican nominee for an Illinois congressional seat representing parts of Chicago and nearby suburbs.

It's a state seat, not a national one, but still:

It's a national seat—mine. Incumbent is a DINO.

So it's a lose-lose election, which reminds me of the state of affairs in my home state of NC, but i feel like you lose more electing a literal Nazi than you do electing a third-way democrat.

Unless the gross Democrat loses the primary - and he's got a viable challenger.

wordsmythe wrote:

It's a national seat—mine. Incumbent is a DINO.

I guess I misread "Illinois congressional seat" as referring to the state legislature.

Actually, too many of our states just recapitulate the federal organization. If the states are our laboratories of democracy, why don't we make some of them parliaments or something?

Savings are also a way for people to ride out, or at least lessen, the effects of an economic downturn. In that sense, it’s certainly stimulative, and just at the time it’s needed. Widespread use of savings could push back the need to government to take on debt reinforcing the social safety net.

All of that requires that companies back off of the idea that shareholder value is the only legitimate way to judge the value of a company. We need to go back to the old ideals, where a company is valued for the quality of its goods, the treatment of its employees, and what it gives back to the community it exists in. That would be a good way to attack income inequality as well as retirement worries and the social safety net. Companies should be recognized as joint ventures between the owners, the employees and the community.

Dow closes down nearly 1,200 points after plunging more than 1,500 points in volatile trading

Monday’s big skid — which was the largest intraday trading drop in Dow history — came on the heels of Friday’s 666-point Dow decline, the sixth-highest point drop in Dow history but only around 2.5 percent from its lofty highs.

Funny, I think the stock drop, although the longest point drop in history, should be a non-story. It might become a story if it continues because it might be taken to represent some mainstream, tangible effect of our unstable political climate. The reality, though, is that it's a fairly insignificant percentage drop after a long long bull run. We're probably due a correction.

If some people take it as a wakeup call of sorts then I'll take it, but I don't think it actually means much outside of the technical stuff about the markets.

EDIT: Fixed typos

DSGamer wrote:

The reality, though, is that it's a fairly insignificant percentage drop after a long long bull run. We're probably due a correction.

This.

It's a news story for the innumerate.

Hmmmm... I wonder if there's a tweet from Trump about what should happen to Presidents who preside over a 1000+ point drop in a day?

Maybe from February 25, 2015.

If only I could imbed from my phone...

Jonman wrote:
DSGamer wrote:

The reality, though, is that it's a fairly insignificant percentage drop after a long long bull run. We're probably due a correction.

This.

It's a news story for the innumerate.

I think it is more a story because of how directly 45 took credit for the record increases and for the fate of the market in general.

Prederick wrote:

An ‘Iceberg’ of Unseen Crimes: Many Cyber Offenses Go Unreported

Utah’s chief law enforcement officer was deep in the fight against opioids when he realized that a lack of data on internet sales of Fentanyl was hindering investigations. So the officer, Keith D. Squires, the state’s public safety commissioner, created a team of analysts to track and chronicle online distribution patterns of the drug.

In Philadelphia, hidebound ways of confronting iPhone thefts let thrive illicit networks to distribute stolen cellphones. Detectives treated each robbery as an unrelated street crime — known as “apple picking” — rather than a vast scheme with connected channels used by thieves to sell the stolen phones.

And in Nashville, investigators had no meaningful statistics on a nasty new swindle of the digital age: The “cheating husband” email scheme. In it, anonymous extortionists mass email large numbers of men, threatening to unmask their infidelities. The extortionists have no idea if the men have done anything wrong, but enough of them are guilty, it turns out, that some pay up, sometimes with Bitcoin.

Each case demonstrates how the tools used to fight crime and measure crime trends in the United States are outdated. Even as certain kinds of crimes are declining, others are increasing — yet because so many occur online and have no geographic borders, local police departments face new challenges not only fighting them, but keeping track of them. Politicians often tout crime declines without acknowledging the rise of new cyber crimes.

True. Of course, the solution is a lot more snooping than American citizens seem to be comfortable with.