Archive for February, 2019

Debt Insouciance.  Does Debt Really Matter In The “Debt Age”? (February 25, 2019)

Posted in Debt/Deficits, National Security, Noble Prize in Eco-nomics, Petrodollar, Population, Supernova Dollar on February 25, 2019 by e-commentary.org

. . .

K          “A billion a day, they say, in interest alone.”

J          “Folks should show more interest in this development, I’m just saying.”

. . .

J          “The National Debt is now officially over twenty two Trillion dollars ($22,000,000,000,000.00).  And we spent the electrons producing plastic and plundering the Planet.”

K          “Most of it was spent bombing countries and killing people.  I suspect that if we could sub poena God to testify and muse on the situation, we would discover that the real National Debt accurately calculated is over sixty six Trillion dollars ($66,000,000,000,000.00).”

. . .

K          “Twenty two Trillion dollars ($22,000,000,000,000.00) in Debt are on the books and an additional twenty two Trillion dollars ($22,000,000,000,000.00) are not on the books but were devoured by just two Departments (DoD and HUD).  I suspect there are probably another twenty two Trillion dollars ($22,000,000,000,000.00) off the books at other Departments.”

J          “So what do we make of the economic theories that correlate debt and domestic product if the real Debt-to-GDP ratio is not hovering at 100+% but really exceeds 300+%?”

K          “Or way above 400+%, if there is another twenty two Trillion dollars ($22,000,000,000,000.00) in ‘dark money’ that is additionally off the books.”

. . .

K          “There are at least a dozen ‘ten’ets that provide the only perspective on debt, public and private, and should be memorized by heart:

1. Debt matters.

2. Debt matters.

3. Debt matters.

4. Debt matters.

5. Debt matters.

6. Debt matters.

7. Debt matters.

8. Debt matters.

9. Debt matters.

10. Debt matters.

11. Debt matters.

Reagan was wrong.  Cheney was wrong.  Most babblers are wrong.  In the private and public sectors alike, Deficit – the rate – and Debt – the total – spending serve to accelerate, yank and suck ‘consumption’ from the future into the present.  No one polls those whose future consumption is being stolen.  However, the unborn are saddled with the debt.  This amounts to the greatest inter-generational crime in history.”

J          “That may be the only acceptable tattoo.  ‘Debt matters.’  Those who opine on the greatest threat to our national security do not understand the greatest threat to our national security but are nonetheless allowed to opine on the greatest threat to our national security.  Despite almost complete silence by those who are allowed to make public noise, the greatest threat to our national security is . . . the unsustainable national Deficit and Debt.”

K          “Unless the Federal Reserve keeps interest rates near zero, the Debt will not even be paid in part.  Low interest rates devastate the lives of millions of those at the other end of the life cycle who have been born for a long time – retirees – who reasonably anticipated a rate of return of 6 to 8 percent on their money in their final years.” 

J          “The unborn and long born are the targets and the victims in America today.”

. . .

J          “To explain the growing cacophony of Debt insouciance, explore the sub-sub-conscious.  Most comment makers across the political and economic spectrum are unable to admit that the Debt will never be repaid, so they contend instead that the Debt does not really matter.”

. . .

[On page 136 of Andrew McCabe’s book, recounting a 2017 Oval Office meeting, he observes:  “Then the president talked about Venezuela.  That’s the country we should be going to war with, he said.  They have all that oil and they’re right on our back door.”]

[See the e-commentary at “Over Over-Population:  10 Billion Little Miracles (And Counting) (And Costing) (January 26, 2015)” observing that accelerating consumption from the future to the present results in a much greater “effective world population” today that is closer to 10 billion miracles effectively punishing and pummeling the Planet even more ruthlessly than the 8 billion miracles of record.  “Deficits Do Matter (January 7, 2008)” discusses the concern with Debt and Deficits in more clinical detail.  “Forgiving American Debt? (March 3, 2008)” eleven years ago notes that the United States will never pay off the national Debt and yet all economic models and forecasts assume that the national Debt will be paid off.  “America The Bankrupt:  Economics 210 in the Land of the Freeway and the Home of the Wave (January 17, 2005)” more than fourteen years ago addresses the impending bankruptcy of the United States.  “National Financial Literacy Month: Teaching Financial Literacy In The ‘Debt Age’ (April 25, 2016)” asks whether there is any serious interest in teaching financial literacy in the “Debt Age”.  “Venturing A Few Unfounded And Unwarranted Predictions (July 13, 2015)” provides some further analysis and discussion of the ”Supernova Dollar” and other concerns.  “Third Annual Noble Prize In Eco-nomics (October 8, 2019)” discusses the missing money in the federal budget, among other concerns.]

Bumper stickers of the week:

Past, present and future walk into a bar.  It was tense.

Debt matters.

Senate Repeals Constitution.  Oh, And Happy Presidents’ Day! (February 18, 2019)

Posted in Congress, Courage, Democrats, First Amendment, Freedom / Liberty, Law, Law School, Republicans, Rule of Law on February 18, 2019 by e-commentary.org

. . .

J          “They cannot do that.  It’s treason.”

K          “Treason is not a good enough reason for them.  They did do it because they proclaimed themselves above the law and unbounded by the United States Constitution.  It’s the American political way.”

J          “They clearly violated their oath to support and defend the United States Constitution.”

K          “There is that.”

. . .

K          “In a grand irony, Senate Bill 1 purports to repeal United States Constitutional Amendment 1.”

J          “There is something surreal and unreal about it.  We need to generate public interest in moving America toward considering the adoption of the Rule of Law.  Like that is going to happen.”

. . .

K          “The Supreme Court already addressed the issue in an unanimous opinion in National Association for the Advancement of Colored People v. Claiborne Hardware Co., 458 U.S. 886 (1982), with Marshal obviously not participating and Rehnquist obviously only concurring.  The decision reaches the not surprising conclusion that the government cannot prohibit the peaceful advocacy and conduct of a politically motived boycott.  No one has even thought to question this established bedrock of Constitutional law.”

J          “Some of the senators actually have a flickering scintilla of integrity, except when it really counts and character is revealed.”

. . .

K          “Following the criminal indictment of each Senator and as a consequence, the law degrees of the lawyers among the pack also should be revoked.”

J          “Law schools do whatever advances their economic interests.  Bar associations do whatever advances their economic interests.  Some bar associations consider treason to be a reason to revoke a law license, but not all of them.  Placing graduates in the Senate is great for the law school’s financial bottom line.”

K          “Someone should tabulate a list of the law schools that spawned these critters.  Someone observed that American-trained lawyers are only concerned with whether they can get away with something, whereas European-trained lawyers are concerned with whether an action or decision comports with the law.”

. . .

K          “The judges who will be asked to review the treasonous repudiation of the Constitution are by-products of the same law schools that spawned the criminals and the criminality.”

J          “The feedback loop is bleak.  The prospects are terrifying.”

K          “Four Justices support the First Amendment and five Justices support the First Amendment when they like who the person is and what the person is saying.”

J          “Bleak and terrifying.”

. . .

K          “The vote provides much valuable . . . and free . . . insight and information.  Rubio along with Cruz, Graham, Klobuchar and Romney announced that they are unfit to be Senators and unqualified to be President.  Booker, Brown, Gillibrand, Harris, Hirono, Kaine, Sanders and Warren announced that they may be worth additional consideration for the top slot.”

. . .

K          “Yes, and Rand Paul who is the only Republican who voted to uphold the Constitution.  He is the only Republican qualified for the top slot.”

J          “Or fit for the Senate.  An entire political party less one is unconstitutional per se and all of its members less one should be impeached and indicted.”

K          “And half of the other political party is unconstitutional and those members should be impeached and indicted.”

. . .

[February 23 – No War on Venezuela Day]

[See the e-commentary at “At War With The First Amendment (February 27, 2012)”, “The Supreme Court On Drugs (June 25, 2007)” and the e-commentary under the Category “First Amendment”.]

Bumper stickers of the week:

Senate Bill 1 > United States Constitutional Amendment 1  United States Constitutional Amendment 1 > Senate Bill 1

Treason is treason.

“When someone shows you who they are, believe them the first time.”  Maya Angelou

“To know who rules over you, simply find out who you are not allowed to criticize.”  Voltaire

A few years ago, the original vote card tallying the Senate vote on the Gulf of Tonkin Resolution that passed in 1964 was displayed at a National Archives exhibit.  For all time, there are check marks under “No” next to Ernest Gruening’s name and next to Wayne Morse’s name and under “Yes” is the name of every other Senator then in office. 

77 Senators Voted To Repeal The First Amendment / Constitution:  

Alexander (R-TN)
Barrasso (R-WY)
Bennet (D-CO)
Blackburn (R-TN)
Blumenthal (D-CT)
Blunt (R-MO)
Boozman (R-AR)
Braun (R-IN)
Burr (R-NC)
Cantwell (D-WA)
Capito (R-WV)
Cardin (D-MD)
Casey (D-PA)
Cassidy (R-LA)
Collins (R-ME)
Coons (D-DE)
Cornyn (R-TX)
Cortez Masto (D-NV)
Cotton (R-AR)
Cramer (R-ND)
Crapo (R-ID)
Cruz (R-TX)
Daines (R-MT)
Duckworth (D-IL)
Enzi (R-WY)
Ernst (R-IA)
Fischer (R-NE)
Gardner (R-CO)
Graham (R-SC)
Grassley (R-IA)
Hassan (D-NH)
Hawley (R-MO)
Hoeven (R-ND)
Hyde-Smith (R-MS)
Inhofe (R-OK)
Isakson (R-GA)
Johnson (R-WI)
Jones (D-AL)
Kennedy (R-LA)
King (I-ME)
Klobuchar (D-MN)
Lankford (R-OK)
Lee (R-UT)
Manchin (D-WV)
McConnell (R-KY)
McSally (R-AZ)
Menendez (D-NJ)
Moran (R-KS)
Murkowski (R-AK)
Murray (D-WA)
Perdue (R-GA)
Peters (D-MI)
Portman (R-OH)
Risch (R-ID)
Roberts (R-KS)
Romney (R-UT)
Rosen (D-NV)
Rounds (R-SD)
Rubio (R-FL)
Sasse (R-NE)
Schumer (D-NY)
Scott (R-FL)
Scott (R-SC)
Shelby (R-AL)
Sinema (D-AZ)
Smith (D-MN)
Stabenow (D-MI)
Sullivan (R-AK)
Tester (D-MT)
Thune (R-SD)
Tillis (R-NC)
Toomey (R-PA)
Warner (D-VA)
Whitehouse (D-RI)
Wicker (R-MS)
Wyden (D-OR)
Young (R-IN)

23 Senators Voted To Uphold The First Amendment / Constitution: 

Baldwin (D-WI)
Booker (D-NJ)
Brown (D-OH)
Carper (D-DE)
Durbin (D-IL)
Feinstein (D-CA)
Gillibrand (D-NY)
Harris (D-CA)
Heinrich (D-NM)
Hirono (D-HI)
Kaine (D-VA)
Leahy (D-VT)
Markey (D-MA)
Merkley (D-OR)
Murphy (D-CT)
Paul (R-KY)
Reed (D-RI)
Sanders (I-VT)
Schatz (D-HI)
Shaheen (D-NH)
Udall (D-NM)
Van Hollen (D-MD)
Warren (D-MA)

The “Intellectual Infrastructure Investment Act” (“III”)  Oh, And Happy Valentine’s Day! (February 11, 2019)

Posted in Courts, Economics, Education, Law, Law School, Schooling, Schooling Industrial Complex on February 11, 2019 by e-commentary.org

. . .

K          “Who is doing the thinking in America?”

J          “Who is even thinking about who is doing the thinking in America?”

K          “Troubling, when you think about it.”

J          “America has the chattering class and the blabbering class and the blogging class and the twittering twit class, but not really a thinking class.”

. . .

K          “We can draw on the bipartisan enthusiasm for infrastructure.  Think about the ‘Intellectual Infrastructure Investment Act’ (‘III’) or the Triple ‘I’ as it is known in the vernacular.”

J          “Would you first establish and endow a great School of Economics or a great School of Law?  Thought must be given to establishing and endowing a great School of Foreign Policy and not long after that a great School of Journalism.”

K          “We need greatness.  We may have to settle for goodness.  We may have to settle for okayness.  We may have to settle for notcrappyness.  Some institutions need to respond to that must elusive thing in recent American experience:  Competition.  Competition with the Schooling Industrial Complex (‘SIC’).”

J          “But we really need to put the SIC out of business.”

. . .

K          “In a delightful irony, the SIC will fund the new paradigm.  A billion dollar judgment in the CTJ against Harvard Law School for damages from Pompeo’s criminal activity and a billion dollar judgment in the CTJ against Yale Law School for damages from Bolton’s criminal activity provide enough seed money to fund the undertaking.  If necessary, the judgments can be satisfied from the assets of the respective parent corporations.  Just transfer the assets digitally.”

J          “Brilliant.  Shift resources from ‘Schooling’ to ‘Education’ without any government dollars.  The project also should aspire to take the ‘A’ out of the MICAC and to substitute a real ‘A’ for clear thinking.  Let’s get going.”

. . .

[See the e-commentary at “Suing Law Schools; Suing Gun Makers.  Oh, And Happy Law Day! (April 30, 2018)”, “Close the Harvard Business School (February 23, 2009)”, “The Court Of Truth And Justice (CTJ) (August 29, 2016)”, “On The Digital Revolution (March 22, 2010)”, “‘Adjunktification’ In The S.I.C. (Schooling Industrial Complex) (March 13, 2017)”, “Schooling The Apparatchiks For the Kleptocrats (December 7, 2015)”, “On Merit and the Meritocracy (January 11, 2010)”, “Clinton, Inc., Trump, Inc., Bush, Inc., Kennedy, Inc., O’Bama, Inc. (October 24, 2016)”, “MPP / MPA:  Are They Really Masters? (November 13, 2017)” and “Johnnie Bolton:  The Triumph Of the Chickenhawks And Neo-Cons.  Join Fellow Patriots For The ‘April 14 Rally’ And The Memorial Day ‘March For America’.  Oh, And Happy April Fool’s Day. (April 2, 2018)”.]

Bumper stickers of the week:

I support the “III Act”

Think big, think long

China:  “The Silent Takeover” Overtakes Silently.  Oh, And Happy Chinese New Year! (February 4, 2019)

Posted in Book Reference, China, Climate, Collapse, Global Climate Change, Limits To Growth, Russia on February 4, 2019 by e-commentary.org

. . .

J          “Global climate change, as a product and by-product of human activity and avarice, is the greatest threat to the Planet.  China, particularly affiliated with Russia and other countries, is the greatest threat on this threatened Planet to the U.S. and thus to the West.”

K          “That does make you wonder who the bachelor will pick this week.  The lethargic but lovable American people are in many ways the greatest threat on this threatened Planet to the threatened U.S.”

J          “The Chinese and their colleagues and cohorts are snatching the mantle and the future from the West in plain sight, yet the theft is unseen and unknown by most Americans.” 

. . .  

J          “China has many if not most of the rare-earth elements on Earth under control or contract.  China has a substantial horde of gold and silver in hand not under contract.  China has growing hordes of hungry consumers who could drive the Chinese economy into prosperity or drive the Chinese economy into penury . . . or a mix of both.” 

K          “China continues to colonize Africa economically not militarily.  China is following the Western play book developed and delineated in Confessions Of An Economic Hit Man, the economic and financial equivalent and update of a Chinese creation, The Art Of War.  China is manufacturing indentured servants and vassals throughout the world.” 

J          “The ‘Hit Man’ preyed on Latin America.  China has investments in Venezuela and may not cotton to the U.S. stealing its oil and the gold.  The flash point may not be in Asia.”

. . .

J          “Chinese authorities can flip a switch and trip a chip nestled in any random grid-tied solar panel and trigger a systemic grid shutdown . . . and only by lifting a finger.  China may be able to monitor conversations in subway cars.  China has stolen intellectual property and yet now just buys the companies and acquires the technology.  China can do things we do not even know they can do.”

. . .

K          “Three decades ago, friends parked their BMW rig at the airport on their way to China and returned to share pictures of people pulling and riding rickshaws.  Now the Chinese are driving the BMWs.  There simply are not enough resources on the threatened Planet to allow Americans to continue driving BMWs.  We must turn over the keys and share the resources.  America must now take its turn at the wheel pulling and riding rickshaws.”

J          “I see it.  In short order, there will be an ad for ‘Rick’s Rickshaws.  The Best in the West’ advertised during the Stupor Bowl.”    

. . .

K          “The world knows where this is heading and how this ends.  The first worldwide vote in the history of humankind to determine the ‘Empire of the Future’ was conducted and completed in 2015 with the most lopsided outcome in the history of humankind.  China was endorsed and embraced by the whole world; U.S.A. was shunned and sidelined with a few stragglers.”

J          “It was not a plebiscite because the plebes did not vote.  It was an elitescite because only the elite voted.  And they voted clearly and loudly and in their interest.”

K          “America was in first place among the losers.”

J          “America was the runner up and is out of the running.”

. . .

J          “We are in trouble.  Big trouble.  Big.  Big.  Trouble.”

K          “We can scribe tomorrow’s history in today’s journals not as history happens but before history even happens.  In real time.  Today’s Toynbee.  Gibbon.  Spengler.  Bachelorette number 3, I say.”

J          “We do not know it and we do not get it.”

. . .

[See the article titled “The Big Hack:  How China Used a Tiny Chip to Infiltrate U.S. Companies” in “Bloomberg Businessweek” magazine by Jordan Robertson and Michael Riley dated October 4, 2018, “Clandestine Chips Are The Perfect Hack And Technology Needs To Catch Up” in “Forbes” magazine by Anna-Katrina Shedletsky dated October 4, 2018, “Senators urge Metro to guard against Chinese spying in new subway cars” in “The Washington Post” by Robert McCartney dated January 19, 2019 and the poetic challenge by Greta Thunberg to the Davos crowd and the crowded denizens of the world on January 25, 2019.]

[See the discussion between an old Chinese party official (C1) and a young comrade (C2) eight years ago transcribed in an earlier e-commentary at “The Silent Takeover (May 23, 2011)” reprinted below; a discussion by two concerned American citizens, A and B, regarding the results of the election to determine the ‘Empire of the Future’ in “AIIB:  China: 1; U.S.A.: 0? (April 6, 2015)”; and an architectonic analysis of the world situation at “The China-Russia Affair: Advancing The Petro-Yuan; Dictating The Future (March 26, 2018)” that includes many links to other commentary and previous e-commentary.]

Bumper stickers of the week:

We.  Are.  In.  Big.  Trouble. 

The year of the pig

Pigs get fat, hogs get slaughtered

The Silent Takeover (May 23, 2011)

. . .

C1      “Take over America.  Of course we are.  You say that you have a better plan, comrade.”

C2      “The primary lesson of the Twentieth Century is that it is easier to take by investment than by invasion.”

C1      “Clear thinking, little butterfly.  Invasion is costly and ineffective.  Invasion only assists the defense industry.  You can eat butter; you can’t eat a gun.  We focused our spending on efficient invasion technology.  We are letting the Americans spend on offensive technology to allow them to go bankrupt.”

C2      “They are already bankrupt.”

C1      “They are.  They are also too big to fail, but not too big to own and operate efficiently.”

C2      “Increase the purchases of t-bills and t-bonds by another fifty percent to a holding of 1.5 Trillion U.S.  They will be worthless, but they are one of the tickets to control.”

C1      “We will decide what they are worth later.”

. . .

C2      “America has an unproductive class of third-rate minds and fifth-rate characters who suck staggering amounts of money without contributing anything of value.  They are identified as CEOs, CFOs, COOs, and their like and ilk.  They run companies and run them into the ground.”

C1      “Comrade, we plan to teach them how capitalism really works.  Survival of the fittest.  They are not fit.  They will not survive.”

C2      “They do not have a working market for talent at the top of American corporations.  The market is broken . . . and fixed.  The brigands and hooligans run the companies.  The American schooling institutions feed and fuel the broken market.”

C1      “The brigands and hooligans will be fixed like the mongrel dogs they are.  They will be sent to regional re-education camps . . . to be re-educated.”

C2      “Were they ever educated?”

C1      “Very good.  You will go far.  What about the cyberfun we are having with them.”

C2      “You should taunt them with simple technology and gauge what they have to combat the efforts.”

C1      “We can send a message internally to the Seventh Fleet to ‘stand-down’ at any time that looks like it is one of their own.  We can even send a message to have the crew stand on their heads.”

C2      “We can?  What will you do with the people?  The people do not produce.”

C1      “We provide the goods and the money to buy the goods for now.  They will be allowed to consume as long as it is in our interest to allow them to consume.”

. . .

C2      “We have our own domestic problems.”

C1      “Not if we don’t acknowledge them.”

C2      “Look at the problems we don’t acknowledge.”

C1      “Who asked you?”

C2      “Our comrades are becoming . . . filthy running dog consumers.  We are creating our own mess.”

. . .

C2      “I have another plan.  What if we tried to work with them?  Why don’t we have a beer with Gary.”

. . .

Bumper stickers of the week:

Is it possible to go through the day and encounter something or anything not made out of oil and not made in China?

Gary Locke – nominated to be the Ambassador to China.  O’Bama’s most astute and foresighted appointment.