Government Shutdown: Shutdown Congress (January 22, 2018)

Posted in Class, Congress, Gender, Race, Term Limits, Women's March on January 22, 2018 by e-commentary.org

. . .

K          “Shut down Congress.”

J          “Vote them out.”

. . .

K          “One word.  Term limits.”

J          “If Congress does not limit its term, we must limit their terms.”

. . .

K          “We need 20/20 vision in the upcoming 2018 elections.”

J          “Hindsight is 20/20, but only if you want to see things clearly.”

. . .

[See the e-commentary at “Marching For Science And Momma (April 24, 2017)”, “Women’s March On Washington (Woodstock With Conviction) / Coronation (January 23, 2017)” and “Debt Ceiling Dilly-Dallying?  Term Limit Amendment = Balanced Budget Amendment (December 11, 2017).”]

Bumper stickers of the week:

Throw the bums out

We need 20/20 vision in the upcoming 2018 elections

Women’s March 2018 signs courtesy of Doonesbury:

Make America Smart Again

First We Marched, Now We’re Running (For Office)

Does This Ass Make My Country Look Small?

Grab ’em By The Midterms

Super Callous, Fascist, Racist, Sexist, Braggadocious

Women Are The Wall And Trump Will Pay

Too Much Bulls*** For One Sign

They tried to bury us.  They didn’t know we were seeds.

Elect A Clown, Get A Circus

Without Hermione, Harry Would Have DIED

I know signs.  I make the best signs.  They’re terrific.  Everyone agrees.

Race And Class And Crime: Jail White People.  Oh, And Happy Martin Luther King Day (January 15, 2018)

Posted in Affirmative Action, Class, Crime/Punishment, Due Process, Equal Protection, Guns, Justice, Prison/Criminology, Race, Wall Street on January 15, 2018 by e-commentary.org

. . .

K          “Blacks are disproportionately and unfairly favored over Whites.”

J          “Browns too.  And the long-term studies clearly show that many of the Blacks and Browns who were preferred over the Whites and received a free ride at public expense were clearly unfit and unqualified at the time of matriculation.”

. . .

K          “White people are criminals.  They commit almost all of the crime . . . measured by the time-honored dollar per transgression ($/transgression) metric.  We need to lock up White people.”

J          “That is exactly my point.  The total criminal activity of White people (CAW) is calibrated in the trillions of dollars.  The total criminal activity of Black and Brown people (CABB Index) is calibrated in the hundreds of millions of dollars and perhaps may be as high as a billion dollars when everything is considered, calculated and calibrated.”

. . . 

J          “That underscores the fundamental Equal Protection rights of Whites that are being trampled and transgressed by favoring Blacks and Browns in the allocation of public accommodations at the graybar hotels of America.”

K          “And the Due Process rights of Whites.  Whites must be afforded the right to receive ‘three hots and a cot’ on the public dole.”    

. . .

K          “So what you are saying is that in 2018, no Blacks or Browns should be sent to jail and in their stead Whites should be given the highly-coveted openings in jail.”

J          “Exactly.  Unless a gun, knife or other weapon is involved, any Black or Brown charged with a property crime in 2018 should be given probation and not take a spot away from a deserving White in the graybar hotels of America.”

. . .

[See the e-commentary at “King Seale Newton X Day (January 16, 2017)”, “King Daze (January 20, 2014)” and “King (January 16, 2006).”]     

Bumper stickers of the week:

Jail White People Now

Prison:  It’s not just for Blacks and Browns

One World Currency? (January 8, 2018)

Posted in Banks and Banking System, Cryptocurrency, Currency, Cyberactivities, Dollar - World's Reserve Currency, Magazine Reference, Money, Petrodollar, Special Drawing Rights (SDR), Universal Monetary Unit, World's Reserve Currency on January 8, 2018 by e-commentary.org

. . .

K          “Thirty years ago tomorrow, The Economist magazine uploaded an article titled ‘Get Ready for the Phoenix’ with a cover proclaiming ‘Get ready for a world currency’ and featuring a rising Phoenix.”

J          “Get ready.  The Phoenix, the Bancor, the S.D.R., the Universal Monetary Unit, the Bobcoin, the Something Else is likely to replace the PetroDollar in the near future.  Stay tuned.” 

. . .

K          “On a simple level, ‘cryptocurrencies’, etc. are digital and gold, etc. is analog.  Blockchain technology underlying ‘cryptocurrencies’ is likely to be supplanted by a fast, fair, sustainable, scalable, guaranteed Byzantine fault tolerant consensus digital technology using gossip protocols and virtual votes such as Hashgraph.  And Hashgraph is likely to be supplanted by even more advanced and sophisticated technologies.” 

J          “That’s what everyone is saying.  Get ready.  Stay tuned.”

. . .

[See a related and more recent article “One world, one money” in The Economist magazine dated September 24, 1998.  First published as a five-part series punctuated with reprints of paintings by Gustave Courbet, “Bitcoin Doesn’t Exist – The Full Story” written by “Dr. D” for “The Automatic Earth” project/site provides some perspective on the phenomenon known as ‘cryptocurrencies’.  The comments to the series and the comments on the sites that reprint the series provide some robust ideas and opinions.  Much is happening quickly.]

[See the e-commentary titled “‘Bitcoin’, ‘Ethereum’ . . . ‘Blockchain Technology’  Say What? (July 3, 2017)”, “The Mandibles, FRNs, SDRs, IMF, G20, WTD! (September 5, 2016)” and “USA + FRN/PD — > IMF + SDR — > NDB + UMU? The “Universal Monetary Unit” . . . Coming To a Planet Near You (January 2, 2017)”.]

Bumper stickers of the week:

Want to improve your love life?  Change your handle to “Blockchain”

. . .

The Economist, January 9, 1988, Vol. 306, pages 9-10; Cover:  “Get ready for a world currency”; Title of the article:  “Get Ready for the Phoenix”

THIRTY years from now, Americans, Japanese, Europeans, and people in many other rich countries, and some relatively poor ones will probably be paying for their shopping with the same currency.  Prices will be quoted not in dollars, yen or D-marks but in, let’s say, the phoenix.  The phoenix will be favoured by companies and shoppers because it will be more convenient than today’s national currencies, which by then will seem a quaint cause of much disruption to economic life in the last twentieth century.

. . .

At the beginning of 1988 this appears an outlandish prediction.  Proposals for eventual monetary union proliferated five and ten years ago, but they hardly envisaged the setbacks of 1987.  The governments of the big economies tried to move an inch or two towards a more managed system of exchange rates – a logical preliminary, it might seem, to radical monetary reform.  For lack of co-operation in their underlying economic policies they bungled it horribly, and provoked the rise in interest rates that brought on the stock market crash of October.  These events have chastened exchange-rate reformers.  The market crash taught them that the pretence of policy co-operation can be worse than nothing, and that until real co-operation is feasible (i.e., until governments surrender some economic sovereignty) further attempts to peg currencies will flounder.

. . .

The new world economy

The biggest change in the world economy since the early 1970’s is that flows of money have replaced trade in goods as the force that drives exchange rates.  As a result of the relentless integration of the world’s financial markets, differences in national economic policies can disturb interest rates (or expectations of future interest rates) only slightly, yet still call forth huge transfers of financial assets from one country to another.  These transfers swamp the flow of trade revenues in their effect on the demand and supply for different currencies, and hence in their effect on exchange rates.  As telecommunications technology continues to advance, these transactions will be cheaper and faster still.  With unco-ordinated economic policies, currencies can get only more volatile.

. . .

In all these ways national economic boundaries are slowly dissolving.  As the trend continues, the appeal of a currency union across at least the main industrial countries will seem irresistible to everybody except foreign-exchange traders and governments.  In the phoenix zone, economic adjustment to shifts in relative prices would happen smoothly and automatically, rather as it does today between different regions within large economies (a brief on pages 74-75 explains how.)  The absence of all currency risk would spur trade, investment and employment.

. . .

The phoenix zone would impose tight constraints on national governments.  There would be no such thing, for instance, as a national monetary policy.  The world phoenix supply would be fixed by a new central bank, descended perhaps from the IMF.  The world inflation rate – and hence, within narrow margins, each national inflation rate – would be in its charge.  Each country could use taxes and public spending to offset temporary falls in demand, but it would have to borrow rather than print money to finance its budget deficit.  With no recourse to the inflation tax, governments and their creditors would be forced to judge their borrowing and lending plans more carefully than they do today.  This means a big loss of economic sovereignty, but the trends that make the phoenix so appealing are taking that sovereignty away in any case.  Even in a world of more-or-less floating exchange rates, individual governments have seen their policy independence checked by an unfriendly outside world.

. . .

As the next century approaches, the natural forces that are pushing the world towards economic integration will offer governments a broad choice.  They can go with the flow, or they can build barricades.  Preparing the way for the phoenix will mean fewer pretended agreements on policy and more real ones.  It will mean allowing and then actively promoting the private-sector use of an international money alongside existing national monies.  That would let people vote with their wallets for the eventual move to full currency union.  The phoenix would probably start as a cocktail of national currencies, just as the Special Drawing Right is today.  In time, though, its value against national currencies would cease to matter, because people would choose it for its convenience and the stability of its purchasing power.

. . .

The alternative – to preserve policymaking autonomy – would involve a new proliferation of truly draconian controls on trade and capital flows.  This course offers governments a splendid time.  They could manage exchange-rate movements, deploy monetary and fiscal policy without inhibition, and tackle the resulting bursts of inflation with prices and incomes polices.  It is a growth-crippling prospect.  Pencil in the phoenix for around 2018, and welcome it when it comes.

The Unrelenting Daily Assaults, Year Two.  Oh, And Happy New Year (January 1, 2018)

Posted in Kleptocracy, Noble Prize in Eco-nomics, Taxation, Trumpi, Wall Street, War on January 1, 2018 by e-commentary.org

. . .

K          “We embark on another year of unrelenting daily assaults, day in and day out, week in and week out, month in and month out.  A helve and trip hammer of travesties.”

J          “Everything that is decent, civil and moral is constantly crashed, condemned and carpet bombed.”

K          “With Trumpi now coronated the king of the Kleptocracy, the Kleptocrats are kings and in complete control of the Kleptocracy.”

. . .

J          “The Nation’s Saltwater-Crocodile-In-Chief is presiding over the Swilling of the Swamp.”

K          “Donaldo Trumpi and his thugs are dismembering, disemboweling and dismantling the body politic.”

. . .

J          “I have said before, however, that a desperately fragile system is nonetheless irrationally resilient.  Not yet.”

K          “This new year may just be the year of resolution.  There is no center; it cannot hold.  If he does not blow up the world first, Trumpi’s devastating destruction and the American Empire’s already inherent decline may pave the road to a rebuilt and downsized Republic.”

J          “A bad drunk must first hit rock bottom.  The drunk is still staggering.  This country was talking about repaving its roads as part of the redevelopment and rebirth.”

. . .

K          “I resolve to revise and complete the ‘Manual For A Constitutional And Sustainable Post-Empire America’ as my project for the new year.”

J          “We need to maintain some record to guide us during the recovery and the rebuild.  A national road map to redemption.”

. .  .

[David B. Collum, the other David who provides a review of the events of the departing year, delivers his “2017 Year in Review” titled “Markets Fiddle While Rome Burns” available at Peak Prosperity.  John W. Whitehead, the recipient of the 2017 Noble Prize in Jurisprudence, offers a trenchant analysis of our circumstances in “Apocalypse Now:  2017 Was Another Terrible, Horrible, No Good, Very Bad Year” available at The Rutherford Institute.]

[See the e-commentary titled “The Drums of War (February 20, 2012)” presented at the outset of 2012, “‘Mericanize:  Monetize, Mechanize And Militarize (December 30, 2013)” presented at the outset of 2014, “Twenty Sixteen (January 4, 2016)” presented at the outset of 2016 and “Venturing A Few Unfounded And Unwarranted Predictions (July 13, 2015)” presented during the mid-year of 2015.] 

Bumper stickers of the week:

Have an exquisite new year

Repeal and Replace Trumpi

The Tax Deform Bill:  Making The Rich Richer And The Powerful Powerfuler

Tax Deform:  What happened to the post card tax return?

The Year of the Unreal to the Year of the Surreal

2018 – The Year of the Lizard, Act 2

 

President Donaldo J. Trumpi Resigns.  Oh, And Happy Holidays (December 25, 2017)

Posted in Kleptocracy, Presidency, Trumpi on December 25, 2017 by e-commentary.org

          Citing overwhelming and incontrovertible evidence that he is a serial sexual predator and was a child rapist throughout his post-adolescent life and is not fit to serve as the nation’s CEO, President Donaldo J. Trumpi, the 45th President of the United States of America, tweeted his resignation from office today.

_________________________________________________

This article must be revised to reflect the following correction:  President Trumpi did not announce his resignation today.

[See the “Doonesbury” artwork created by Garry Trudeau in many of yesterday’s newspapers.]

Bumper stickers of the week:

Merry Christmas    

Happy Hanukkah

Peaceful Kwanzaa

Sweet Senate Alabama (December 18, 2017)

Posted in Senate, Voting on December 18, 2017 by e-commentary.org

. . .

K          “Moore is less.”

J          “And let’s hope that more of us try to keep up with the Jones.”

. . . 

K          “Doug Jones was drawing to an inside straight.  So much had to line up perfectly and fortuitously to produce a victory in ruby-red Alabama.”

J          “Turnout, it turns out, is the key.” 

K          “Although he remains one of America’s greatest political, economic and social commentators, Professor George Carlin’s contention that a citizen should not vote is fundamentally wrong.  There are times when votes are counted and when votes count.”

. . .

J          “Senator Shelby’s statement that he wrote in the name of another Republican on his general election absentee ballot may be the most moral and one of the most consequential actions in his career.”

K          “There may be some semblance of shame and decency in America.”

. . .

K          “The result will lead to the redoubling of efforts to suppress voting and to gerrymander districts.”

. . .

J          “Turnout.”

. . .

[See the “Doonesbury” artwork created by Garry Trudeau in many of yesterday’s newspapers.]

Bumper stickers of the week:

Sweet Senate Alabama 

Roll Tide

Vote

“It’s not the people who vote that count.  It’s the people who count the votes.”  Attributed to Joe Stalin

Debt Ceiling Dilly-Dallying?  Term Limit Amendment = Balanced Budget Amendment (December 11, 2017)

Posted in Balanced Budget Amendment, Term Limits, Term Limits Amendment on December 11, 2017 by e-commentary.org

. . .

K          “Sort of.  With the Term Limit Amendment, budgets may become slightly less imbalanced.  When a few individuals gain far too much seniority and power, they consume an extraordinary and inefficient amount of resources”

J          “A young senator starts in an office at the top floor of the Russell Building and works his or her way over the decades to the first floor of the Hart Building.  At that time, it is time to show him or her the door.”

. . .

K          “If you want to start on the road to a balanced budget, enact term limits.”

. . .

K          “Why pass an amendment demanding that you pass a balanced budget when it is far easier simply to pass a balanced budget.  If you want to pass a balanced budget, then pass a balanced budget.”

J          “There is a simpler and more concrete solution.  No subcommittee shall schedule a hearing on a balanced budget amendment until the budget is first balanced.”

K          “If it cannot be done and will not be done, why pass a law decreeing that it shall be done.”

. . .

[See the e-commentary titled “Term Limits (May 14, 2007),” “The “Contract with America”; The Congressional Reform Act of 2010 (March 29, 2010),” “Bringing Balance To The Balanced Budget Amendment Debate (July 18, 2011),” “Over The Cliff Or At The Foot?  (December 31, 2012)” and “The People’s Amendment:  Contract With America (April 29, 2013)”.]

Bumper sticker of the week:

Term Limit Amendment = Balanced Budget Amendment