Bin Laden Lives!

Closing Thought–15Oct20

It seems that QAnon has started a conspiracy that bin Laden is not dead and it was his body double that was killed…..and the president has decided to help spread the manure (as usual)……

The alleged killer of the terrorists has this to say….

A former Navy SEAL famous for his involvement in the operation that killed Osama bin Laden is calling out President Trump for amplifying conspiracy theories that the death was fake.

Robert O’Neill, who has publicly said he killed bin Laden in the 2011 raid ordered by former President Obama, pushed back on Trump in a series of tweets for promoting the conspiracy theory that it was a bin Laden’s body double who was killed and not the terrorist leader.

“Very brave men said goodby to their kids to go kill Osama bin Laden. We were given the order by President Obama. It was not a body double,” O’Neill wrote on Twitter on Tuesday. 

https://thehill.com/policy/defense/521030-navy-seal-who-says-he-killed-bin-laden-pushes-back-after-trump-amplifies

Liars just cannot cease helping other liars spread their bovine fecal matter…..and Trump is the biggest liar of them all.

All presidents stretch the truth when they need to….but this just flat out lies and does not care that he is caught in that lie…..besides his adoring brood will lick up lies like ice cream.

How sad is that?

“Totalitarianism in power invariably replaces all first-rate talents, regardless of their sympathies, with those crackpots and fools whose lack of intelligence and creativity is still the best guarantee of their loyalty.”  Hannah Arendt

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The Clayton Anti-Trust Act 1914

Speaking of economic news……

Hold your breath it is time for the Old Professor’s history lesson…..first Mata Hari was executed in Paris on this date in 1917….and in 1966 the Black Panther Party is established……and in 1969 over 2 million people protested for the end of the Vietnam War…..

On this day. 15 October, in 1914 the US Congress passes the Clayton Anti-Trust Act…..

On this date, the 63rd Congress (1913-1915) passed the Clayton Antitrust Act (P.L. 63–212) in a bid to curb the power of trusts and monopolies and maintain market competition. By the turn of the 20th century, large corporations had cornered whole segments of America’s economy using predatory pricing, exclusive dealings, and anti-competitive mergers to drive local businesses to ruin. In Congress, Members decried the evils of monopolies, including Representative Robert Crosser of Ohio who warned that a “failure to check the growth of monopolies…will result in industrial slavery.” Representative Alben W. Barkley of Kentucky dubbed the trusts “offensive organizations.” Most agreed that government regulation of the trusts was too lenient and rallied around the Clayton Antitrust Bill when Representative Henry Clayton of Alabama introduced it in 1914. Representative John J. Casey of Pennsylvania remarked, “I realize and appreciate the importance of this bill, because I believe it is one of the most important that has or will come before this House for consideration.” The Act supplemented and strengthened the Sherman Act of 1890, an existing antitrust bill that had failed to effectively regulate the massive corporations. The newly created Federal Trade Commission enforced the Clayton Antitrust Act and prevented unfair methods of competition. Aside from banning the practices of price discrimination and anti-competitive mergers, the new law also declared strikes, boycotts, and labor unions legal under federal law. The bill passed the House with an overwhelming majority on June 5, 1914. President Woodrow Wilson signed it into law on October 15, 1914. 

This was suppose to cease the idea and exploitation of being a wage slave…….and how has that worked out?

This law has very little teeth anymore…..we have monopolies everywhere in our business societies….the US has a long history of trying to make the society more equitable……https://www.thoughtco.com/the-clayton-antitrust-act-4136271

How has all this legislation done at help this society become a more equitable society?

I do not see it….how about you?

(Watch this blog for more thoughts on monopolies….posts coming soon)

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2020 Presidential Debate #2

For those that are waiting on the edge of their chairs or those that have not heard the news yet…..THERE WILL BE NO SECOND DEBATE!

It seems that the bully of the airways are afraid to debate virtually.

First came the decision to make the second debate virtual between President Trump and former VP Joe Biden. Now, an update: There’s won’t be a debate at all. Per CNN, the Commission on Presidential Debates has nixed the debate scheduled for Oct. 15 after Trump said he wouldn’t do the virtual format, with some worried he may still be contagious with COVID-19. Now, all eyes are on the debate that had been scheduled after that at Belmont University in Nashville, Tenn., on Oct. 22. The Wall Street Journal reports that Trump’s campaign had called for moving the dates for both debates back a week, but Biden’s camp refused that option. “It is now apparent there will be no debate on October 15,” the commission said in a statement. “Both candidates have agreed to participate in the October 22 debate.” That debate will be moderated by NBC anchor Kristen Welker.

On Oct. 15, Biden will instead participate in a town hall hosted by ABC News, NPR reports. Trump is hoping to hold a rally or a town hall on NBC, though plans for neither have been finalized. There’d been a bit of hubbub involving C-SPAN’s Steve Scully, the moderator set for the second debate, after a now-deleted tweet apparently sent by Scully to former White House communications chief Anthony Scaramucci emerged, in which Scully asked: “Should I respond to Trump?” Trump accused Scully of being a “Never Trumper,” per Politico. Scully, for his part, alleges he didn’t write that tweet, Fox News reports. Meanwhile, in South Carolina, another canceled debate: one set for Friday between GOP Sen. Lindsey Graham and his rival, Democrat Jaime Harrison, after Harrison said he wouldn’t attend if Graham didn’t take a COVID-19 test; Graham refused, the Hill reports. Instead, the two were interviewed in separate 30-minute segments on a local station.

What A Titty Baby!

How can any American support this coward?  (That is rhetorical)

Instead of a debate the two candidates had battling townhalls…..not everyone is pleased at this turn….

NBC News’ decision to host President Trump’s town hall Thursday night—which will air on the network at the same time ABC News is airing Joe Biden’s competing event—is not going over well in some circles. The Los Angeles Times reports #BoycottNBC is trending on Twitter, and even former NBC star Katie Couric weighed in: “Having dueling town halls is bad for democracy—voters should be able to watch both and I don’t think many will. This will be good for Trump because people like to watch his unpredictability. This is a bad decision.” Fox News rounds up more criticism, with one political analyst calling NBC’s decision “indefensible.”

President Trump refused the virtual format that was offered for the debate originally scheduled for Thursday, so the whole thing was scrapped, and Biden decided to do his town hall instead. Trump’s decision came next, and Couric is not the only former NBC person accusing the network of capitulating to the POTUS. “I am dismayed—more like disgusted—by NBC’s decision to air Trump’s ‘I won’t play by the rules so let me make my own rules’ town hall opposite Biden’s,'” a former executive VP posted on Facebook; a former producer also said it’s a bad idea. And a reporter tweeted, “I’ve heard from over a dozen NBC, MSNBC, and CNBC sources (talent and staff) and the frustration with and anger toward their employer for scheduling a town hall against Biden is palpable.” The network has not weighed in on the criticism.

What a waste!

Debate #3 will be (as of this printing) on 22 October….and I will be watching….so you do not have to…..

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How About Some Economic News?

Trump tells us that since the markets are making CEOs wealthy the rest of us are doing super good…..let me say here…there is more to an economy than what the markets do or don’t do…..but hey you believe the crap you want then don’t coming crying when it all goes to sh*t.

Markets are up….unemployment is high…..foreclosures on the rise…..food expensive…….medical expensive…..but according to Trump all is well….even good.

First let’s look at Q2 (Second Quarter)……

The US economy plunged at a record rate in the spring but is poised to swing to a record increase in the quarter that just ended. The Commerce Department reported Wednesday in its final estimate for the April-June quarter that the gross domestic product, the economy’s total output of goods and services, fell at a rate of 31.4%. (This estimate, the third, is down from the initial estimates of 33% and 31.7%.) The report shows a decline that is almost four times larger than the previous record-holder, a fall of 10% in the first quarter of 1958 when Dwight Eisenhower was president. The Washington Examiner reports the biggest GDP drop during the Great Recession was 8.4%. The Q1 decline was 5%.

The AP reports economists believe the economy will expand at an annual rate of 30% in the current quarter as businesses have re-opened and millions of people have gone back to work. That would shatter the old record for a quarterly GDP increase, a 16.7% surge in the first quarter of 1950 when Harry Truman was president. The government will not release its just-ended July-September GDP report until Oct. 29, just five days before the presidential election. Many are forecasting that growth will slow significantly in the final three months of this year to a rate of around 4% and could actually topple back into a recession if Congress fails to pass another stimulus measure or if a rising number of coronavirus cases sharply curtails economic activity.

I hate to be the bearer of bad news…..but inflation is already here….at least for the stuff you buy as a normal person…..

If it feels like the price of everything you buy has been soaring, that’s because it has—even as central bankers everywhere worry about the danger of deflation.
The gap between everyday experience and the yearly inflation rate of 1.3% in August is massive. The price of the stuff we’re buying is rising much faster, while the stuff we’re no longer buying has been falling, but still counts for the figures.
Economists will be relieved that the laws of supply and demand are still working, at a time when so much in the discipline is in doubt. But for investors it hangs a veil over the outlook for perhaps the single most important issue for the markets: whether we’re headed for a future of inflation, deflation or a continuation of the past decade’s lackluster price rises.
 
Have you noticed that banks can do whatever they want and never have to pay for their stealing and perjury?
 
Take JP Morgan got caught manipulating the stock and what was the penalty….a slap on the wrist and a fine…..
Following hard on the heels of revelations that major global banks have been involved in a network of criminal money laundering, JPMorgan Chase has been fined $920 million for manipulating markets on two of its trading desks.

The charges involved the practice of spoofing—quickly placing and then withdrawing buy and sell orders to give other traders and their algorithms the false impression that there is a surge of activity.

The spoofing activity covered trades in gold, silver and other metals futures markets as well as markets for Treasury bonds and cash. It covered thousands of trades and involved numerous traders and staff at JPMorgan in New York, London and Singapore.

The Commodity Futures Trading Commission (CFTC), which conducted the investigation, said traders knowingly placed orders on trading platforms they did not intend to fulfil in the hope this would trick others and enable the JPMorgan traders to obtain a better price.

https://www.wsws.org/en/articles/2020/10/01/jpmo-o01.html

Now think back to 208….Morgan was part of the problem that cause the recession and the economic crash….and they are still doing illegal stuff and getting away with it.

And you think it is a fair and equatable system…..NOT!

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Should US Troops Remain In The Middle East?

My first reaction to that question is…Hell NO!  Their families have suffered many years and it is time for them to be reunited with their soldiers.

Bring our troops home…..and the reasons are clear.

  1. The Middle East is a small, poor, weak region beset by an array of problems that mostly do not affect Americans—and that U.S. forces cannot fix. The best thing the United States can do is leave.
  2. The immense cost and evident fruitlessness of U.S. wars in the Middle East are widely lamented in American politics, but not enough to extricate U.S. troops. And even beyond the wars, U.S. policy in the region is an expensive and unnecessary disaster.
  3. The cost of maintaining forces to protect the Middle East from itself is extraordinary, even in peacetime. Conservatively, attempting to control the Middle East costs Americans on the order of $65–70 billion dollars each year, apart from the trillions spent on wars there. The number should be closer to zero.
  4. Nothing about the Middle East warrants the U.S. investment there over the past 30 years. The few important interests there—preventing major terrorist attacks, stopping the emergence of a market-making oil hegemon, curbing nuclear proliferation, and ensuring no regional actor destroys Israel—do not require American troops.
  5. The roughly 60,000 U.S. troops in the region should leave. American efforts to manage the Middle East make nothing about oil, Israel, or terrorism better. The United States would be better off withdrawing all forward-deployed troops from the region, while maintaining access agreements for naval ports with the consent of host countries.
  6. Withdrawing ground forces from the Middle East will make it harder for the United States to start or join any wars there. Shrinking the U.S. armed forces to reflect the lack of threat from the Middle East will free up resources for any number of higher priorities at home or abroad.

Six excellent reasons for pulling US troops out of the Middle East…..[

Why are we still there?

Is it to protect Israel?  If so I say fuck them let them do their own security.

Is it to protect oil?  Again I say screw it…we do not need their oil any longer.

Is it to keep the M-IC in defense contracts and their profits rolling in?  I think I have hit on the the true reason we are still there.  The industry spends billions on Congress they want their money to be well spent….if not they move on to the next corrupt politician that will do their bidding.

Why are we still in the Middle East?

(Insert your thoughts here)

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