Month: September 2018

HE’S RIGHT: Professor Who Coined Term ‘Net Neutrality’ Thinks It’s Time To Break Up Facebook.

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via slashdot.org: pgmrdlm shares a report from The Verge:Best known for coining the phrase “net neutrality” and his book The Master Switch: The Rise and Fall of Information Empires, Wu has a new book coming out in November called The Curse of Bigness: Antitrust in the New Gilded Age. In it, he argues compellingly for a return to … Read more

In Other News, Water Wet, Fire Hot, Japanese Central Branker Urges More Stimulus

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A Bank of Japan (BOJ) board member criticized the central bank’s decision in July to make its policy framework more sustainable. Goushi Kataoka argued that the BOJ should have instead ramped up stimulus to hasten the achievement of its elusive price target. Kataoka warned that escalating trade frictions could weigh on Japan’s export-reliant economy by … Read more

Wells Fargo: Seriously, Can It Go 5 Minutes Without Committing a Crime?

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via zerohedge: Another day, another scandal involving Warren Buffett’s favorite bank. According to the WSJ, the DOJ is now probing whether employees committed fraud in Wells Fargo’s wholesale banking unit as a after revelations that employees improperly altered customer information. This follows a prior WSJ report that some employees in the unit added information on customer documents, such … Read more

Unless Something That’s Never Happened Since 1871 Happens, Stocks Will Fall 56% or More

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via advisorperspectives: Quick take: At the end of August the inflation-adjusted S&P 500 index price was 121% above its long-term trend, up from 116% the previous month. About the only certainty in the stock market is that, over the long haul, over performance turns into underperformance and vice versa. Is there a pattern to this movement? Let’s … Read more

IS ANYONE SURPRISED BY THIS? Top Dem candidate who said money ‘corrupts’ politics donated $100G to Obama and asked for US ambassadorship.

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Watch the latest video at foxnews.com via Foxnews: A liberal millionaire now running for Congress in Pennsylvania — and railing against the influence of money in politics — has a history of making large donations to former President Barack Obama’s campaign and other efforts. Scott Wallace, grandson of a former vice president of Franklin Roosevelt … Read more

COLD WAR II: What Russia’s Vostok-18 Exercise with China Means. “Moscow knows what it is doing and Washington should take note.”

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via nationalinterest: Other than the vast scale of the exercise, the fact that Chinese forces have a role seems to have dominated reporting on Vostok-18. But, at least two critical analytical points seem to have been missed. First, the location of the exercise no doubt reflects the Kremlin’s desire to cool down tensions in the European … Read more

It’s Time to Get Billionaires Off of Welfare

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via commondreams.org: Year after year, decade after decade, Republicans in Washington have lectured the American people about the need for “welfare reform.” In the 1980s, Ronald Reagan railed against a fictitious “welfare queen” driving a Cadillac. Just a few years ago, Republicans turned their attention to a young surfer who used the food stamp program to purchase lobster. … Read more

120 Utilities Have Lowered Rates Thanks to Tax Cuts

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Thanks to the tax cuts passed by the Republican House and Senate and signed by President Donald Trump, at least 120 utilities across the country are lowering rates for customers, according to a report from Americans for Tax Reform. This means lower electric bills, lower gas bills, and lower water bills for Americans. The Tax … Read more

US govt blocks info release on thousands of kittens experimented & killed at Maryland lab – lawsuit

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An animal rights group has sued the US Department of Agriculture, claiming it blocked the release of information on a Maryland medical lab that experimented on and euthanized thousands of kittens in past decades. The lawsuit says the government-funded Animal Parasitic Disease Lab in Beltsville, Maryland, has euthanized thousands of healthy kittens after putting them … Read more

Governments Default On Debt More Than You Think

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Authored by Daniel Lacalle via The Mises Institute, In this era of monetary fiction, one tends to read all types of undocumented and misguided views on monetary policy. However, if there is one that really is infuriating: MMT science fiction. One of its main principles is based on a fallacy: “A country with monetary sovereignty can issue … Read more

Tesla Tumbles After Chief Accounting Officer Quits After Just One Month

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Via ZeroHedge Update: it’s just getting ugly in Freemont. TESLA’S CHIEF PEOPLE OFFICER GABY TOLEDANO TO LEAVE CO – CNBC, CITING REPORT * * * Easy come, easy go. Just hours after Elon Musk appeared on a comedy podcast, where he smoked pot, demonstrated his flamethrower and mused philosophically, Tesla’s chief accounting officer unexpectedly gave notice … Read more

Elizabeth Warren calls for 25th amendment to remove Trump!

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It’s time we invoke the Constitution to remove President Donald Trump from office, Sen. Elizabeth Warren (D-Mass.) said Thursday. In light of the anonymous op-ed by a senior Trump official published Wednesday in The New York Times, Warren told CNN that officials should consider using the provisions of the 25th Amendment, which allows the vice … Read more

August Job Creation Rebounds — “Fueled By Tax Cuts,” Notes AP, Bloomberg…. Record Low African-American Unemployment

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WINNING: August Job Creation Rebounds — “Fueled By Tax Cuts,” Notes AP, Bloomberg. Do Democrats really want to run on reversing December’s tax cut? The August job report beat expectations, as the US economy added 201,000 jobs last month and the U-3 unemployment rate held steady at 3.9%. Labor force measurements fell back, however, as the Household survey demonstrated even more … Read more

The giant food company Nestle, admits to using slaves.

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via theguardian: The company has won plaudits for its admission of forced labour in the Thai seafood industry but much of the supply chain remains hidden It’s hard to think of an issue that you would less like your company to be associated with than modern slavery. Yet last November Nestlé, the world’s largest foodmaker and … Read more