Drudge Retort: The Other Side of the News

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Monday, August 12, 2019

Bolstered by strong support from independent and young voters, Sen. Bernie Sanders would roundly defeat President Donald Trump in a 2020 general election, according to a SurveyUSA poll, 50-42 -- in a hypothetical head-to-head contest. read more

Friday, August 09, 2019

The Japanese state-guided market system was efficient and effective, so effective that it is considered an existential threat to the neoliberal model of debt-based money and "free markets" promoted by the International Monetary Fund (IMF). That model has been highly successful in South Korea and the other "Asian Tiger" economies, including giant China. China subsidizes workers and all other business costs. China owns 80% of its banks, which make loans on favorable terms to domestic businesses, especially state-owned businesses. If the businesses cannot repay the loans, neither the banks nor the businesses are forced into bankruptcy, since that would mean losing jobs and factories. The nonperforming loans are just carried on the books or written off. Our defense industry operates the same way. read more

Suppose George Marcus, who gave $4.5 million to Pelosi's House Majority PAC, or James Simons who gave $10 million requested a meeting with Speaker Pelosi. Would the request be granted? In contrast, we know what would happen if Pelosi received a letter from seven progressive organizations "urgently" requesting a meeting to discuss her recent dismissive comments about four progressive congresswomen, Alexandria Ocasio-Cortez, Ilhan Omar, Ayanna Pressley and Rashida Tlaib, because they were ALL denied access. read more

Thursday, August 08, 2019

Police in Boston Tuesday night reportedly destroyed three wheelchairs belonging to homeless city residents in a garbage truck compactor as part of a crackdown targeting the city's transient population. "Operation Clean Sweep" began August 2 after a county corrections officer was allegedly struck during a fight involving a number of people on "Methadone Mile". read more

Wednesday, August 07, 2019

The Deep South was built on the very idea of getting "free stuff", with free labor to build all the stuff you ever dreamed of having. How about the white men who were given Indian land for free. Then in an era of development the Guv'mint built highways, price supports, dams, electricity ... The latter are a good thing. But are foreign mining claims for $5/acre also a "good thing"? read more


Under Capitalism, more often than not, the player with the deepest pocket wins consistently, whether they are competent or incompetent. Historically, the orange sloth's technique for making money is to fail to honor contracts and bully everyone he interacts with. As President of the United States he is certainly in a good position to continue those practices and he is doing exactly that with Venezuela, Iran, China and the poor Palestinians. Where only money is involved this technique can be successful for the same reason it makes no sense to spend $10,000 litigating a $5,000 problem. But where an individual's or country's dignity or sovereignty are involved litigation costs be damned. That is the position all four of these countries are in and the USA's economy is not as big as China or even the EU.

There are only three ways to create new wealth, farming, mining and manufacturing. Building the infrastructure is an expense on the one hand, but it is an expense which makes a countries economy more efficient and therefore more competitive. The USA has permitted its educational and manufacturing base to deteriorate while also facing rapidly increasing housing and energy costs. It has the highest health care costs in the world and has shipped many of its factories overseas which are not coming back.

Colonialism consists of occupying a country, exporting its raw materials and selling back high value products. This practice created enormous wealth for the British, USA and other nations. Because of its unique history, size and climate the US has been a leader in food production and remains so. But climate change has recently turned much regional agriculture on end and the full impact has yet to be felt. The Kissinger policy drives most US foreign policy through grain production, control of oil distribution and intimidation through the exercise of military power. Over the last several decades we have witnessed the limits of military power in terms of its ability to limit other people's independence. Our reckless use of that power has sunk the USA deeply in debt without achieving any of its fake public or real secret goals.

Today the USA has deliberately chosen to abandon high value added manufacturing, which has contributed rapidly to short term profits while shrinking its domestic market by lowering wages. It makes no sense to complain about currency manipulation when you no longer have high value added products to sell. The US economy has grown only insofar that floods, tornadoes and hurricanes have forced climate change driven public spending. There is no quick path out of this situation. All we can do is continue to build on what we still have. The model of free markets with private control the money supply will fail. Only by restoring public ownership of the money supply and State subsidies of critical industries can we compete with the rest of the world. Otherwise our existing cost structure will continue to prevent us from having enough cost advantages to compete with the rest of the world. But for that to happen we must stop offshoring manufacturing and there is no indication of any turn around in that policy despite all the attention the orange sloth has paid to the topic of jobs.

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