Virus thread, the political one.

[mzilliox]

HAS TO BE. It's just like Donald Trump=John Barron.

they are never in the same room at the same time... same with corvo... dun dun dun

[theflashunc]

The push now by the administration to claim federal testing was never a permanent solution and should now be led by the states is offensively stupid.

I wouldn't trust these clowns to run the swing shift at a Little Caesar's without screwing it up, much less a response to a global pandemic.

[Bob Ross]

I'm kinda surprised this article wasn't already posted in this thread
Americans Are Paying the Price for Trump’s Failures - The Atlantic

Then again, I'll concede that the immediate value of a lengthy detailed cataloging of all the ways DJT screwed this up is limited.
But history will look at comprehensive overviews like this as a potent shortcut to recognizing that we were a nation of sheep. There's no other plausible explanation for how a population can allow a single individual to achieve so much mismanagement without any oversight.


I did LOL at this sentence: "Because Trump puts so much emphasis on this point, it’s important to stress that none of this is true."

[Saab2000]

Then again, I'll concede that the immediate value of a lengthy detailed cataloging of all the ways DJT screwed this up is limited.
But history will look at comprehensive overviews like this as a potent shortcut to recognizing that we were a nation of sheep. There's no other plausible explanation for how a population can allow a single individual to achieve so much mismanagement without any oversight.

The immediate value would be having POTUS out of office at the latest at the end of his term, if not sooner. It's hard to believe I'm saying this but even the VP looks vastly better in his tone and gravitas and the actual words coming out of his office. I'm not in love with the idea of a Pence presidency but he's surely far more capable of handling this than his boss.

[Chik]

I find sympathy, for those who would undermine the NHS or oppose efforts to improve the US health care system so that nobody's lack of wealth is an impediment to seeking care, or attempt profiteering in situations such as these, difficult.

I may be biased.

I have a friend who is a recently retired NHS doctor (and, incidentally, a keen cyclist). He has seen first hand what the Tory government policies have done to the NHS. He is also a staunch Corbynist.

Yet, he found himself banging his pans earlier in the week at 8 pm for BoJo.

Because he is a good human being.

Here's my bias: I admire him.

And, it was a win for a London NHS hospital that has been caring for BoJo. I think that's worth celebrating.

The implication of wishing that his condition should have deteriorated further or that he should have croaked is distasteful to me, but again, that's my biased opinion.

You misunderstand the program, this is not a bug, this is the design feature.
Borrow from FED at X Lend at X+Y choose Y

I think the program is put on hold because the details did not quite work out the way they initially envisioned for the ppp.
The second program TALF definitely works, and it is definitely sent up to allow investors to contribute 1 dollar and lever 7x borrowing cheaply from FED to buy certain Asset-backed securities. This program was used in 2009, and provided many investors great profits. I can guarantee you there are 100s of proposals floating around the street and some already applying for funds.

The irony here is many investors think it is their right to make the profit and get mad if the Treasury profits too much. A case in point is the PROFIT SWEEP of Fannie and Freddie. The Treasury saved the companies by injecting huge amounts of preference shares to keep it afloat. Afterwards, instead of letting the companies pay-off the Prefs, the Treasury just decided to keep the position and sweep all excess profits to Treasury. This position alone has probably made all the 2008/2009 programs swing to net profit for the Government. However, Wall Street views this as illegal taking of their profits, and there are several lawsuits against the government regarding Fannie/Freddie.

I don't believe I misunderstood. I'm familiar with the design features. It could be argued that what's wrong is the system rather than the actors, but that doesn't absolve the actors in my book.

[j44ke]

I don't want anyone to die from this. Or get sick. There are no just-desserts.

[HorsCat]

The immediate value would be having POTUS out of office at the latest at the end of his term, if not sooner. It's hard to believe I'm saying this but even the VP looks vastly better in his tone and gravitas and the actual words coming out of his office. I'm not in love with the idea of a Pence presidency but he's surely far more capable of handling this than his boss.

I'm reminded of a scene from Wall Street where Gekko and Fox are on Gekko's plane and Fox has just hatched the idea of a takeover of the airline Fox's dad works for. Gekko has mixed feelings about the idea. Says something like, "Mixed emotions, sport. Sort of like Sir Larry Wildman going over a cliff. In my new Maserati."

In one sense, Pence would be a vast improvement over President Dipshit. In another, Pence could be more dangerous, because him and McConnell could do more long-term structural damage to the US political system. I guess that's less of a concern with the Democrats controlling the House. Plus, the GOP - and McConnell in particular - have already done so much damage, it's probably a moot point.

Still, great scene from Wall Street. At least IMO.

[ides1056]

The immediate value would be having POTUS out of office at the latest at the end of his term, if not sooner. It's hard to believe I'm saying this but even the VP looks vastly better in his tone and gravitas and the actual words coming out of his office. I'm not in love with the idea of a Pence presidency but he's surely far more capable of handling this than his boss.

Imagine, Mike Dense more capable than his titular boss.

[theflashunc]

How sad is the state of affairs at the top when we're hoping the number 2 in charge would be in charge, and he's the guy who's already fucked up one disease outbreak in his prior gig due to ideology and venal stupidity?

How Mike Pence Made Indiana’s HIV Outbreak Worse - POLITICO

[ides1056]

And to think that this passes for street cred in some evangelical circles.

[thollandpe]

In 2019, experts recommended a medical Manhattan Project for new vaccines, antibiotics and antiviral drugs.

In 2005, experts from the Mayo Clinic predicted that a pandemic that would overwhelm hospitals and exhaust respirator supplies, "I want to emphasize the certainty that a pandemic will occur."

In 2009, while the swine flu raged, we were warned that our nation's patchwork of a public health infrastructure needed shoring up before a more severe pandemic arrives.

But instead we starved the beast, by cutting grants to public health departments, hospital preparedness programs, and to research laboratories. For what, to buy F-35's? To subsidize the fossil fuel industry at $20 billion a year? We could have spent a quarter of that on public health, but no.

When you drown the government in the bathtub, people die, by Dana Milbank

Fuck Grover Norquist.

[vertical_doug]

Capitalists or Cronyists? | No Mercy / No Malice

His latest No Mercy, No Malice is worth a read.
Scott Galloway

[thollandpe]

Capitalists or Cronyists? | No Mercy / No Malice

His latest No Mercy, No Malice is worth a read.
Scott Galloway

A pyramid scheme. But the pyramid is upside down.

[Crashburn]

I may be kicking a hornet's nest but why have the Trump defenders fallen so silent on this thread? Is it because he's doing such a kick ass job handling this crisis that actions speak louder than words?

[htwoopup]

I understand but do not accept the why of the election nonsense in Wisconsin. Same for the bs about mail-in ballots.

And once again, I come across an example of where so many think « America is the best » where other nations seem to do it better.

Sad when it comes down even to making an effort to be a democracy...

How South Korea is holding elections during coronavirus — Quartz

[j44ke]

Over time, contributors from both sides of the aisle have been asked to temper their rhetoric. This is an ongoing process.

[caleb]

Capitalists or Cronyists? | No Mercy / No Malice

His latest No Mercy, No Malice is worth a read.
Scott Galloway

As a big picture analysis of American capitalism, and especially Fortune 500 capitalism, he's pretty spot on:

Modern-day “capitalism” in America is to flatten the risk curve for people who already have money, by borrowing from future generations with debt-fueled bailouts for companies. We have consciously decided to reduce the downside for the wealthy, thereby limiting the upside for future generations.

CNBC guest: Equity holders deserve to get wiped out.
CNBC host: Why does anybody deserve to get wiped out in a crisis like this? This is a natural disaster, why does anybody deserve to get wiped out? Wouldn’t that be immoral in and of itself?

“Immoral,” here we go. Morality for CNBC, and the current administration, is not capitalism but the worst type of socialism, cronyism. Rugged individualism and capitalism on the way up, privatizing the gains — and then socialism/cronyism on the way down as we socialize the losses with bailouts.

I do wonder, though, how well his logic translates from megacorps to small businesses.

Last week David Chang of Momofuku did an interview in the Times where he speculated that what will happen with the mass bankruptcy of the independent restaurant world isn't that a new wave of innovative new restaurants will occur. Instead, in the short to medium term, big chains and Uber Eats-backed ghost kitchens will be the only ones with the capital to move into the market that independent restaurants have vacated. And, in his view, we'll end up with food-by-algorithm for the next ten years.

If Chang's vision plays out, the failure of the restaurant industry wouldn't open up opportunity for the next generation as Galloway sees it. Instead, it would be a transfer of opportunity from independent entrepreneurs to the shareholder class; what used to be Vini's Deli owned by Vini is now Green Concoction Express owned by Uber. Once that market space is occupied by corporations, it's going to be tough for an independent entrepreneur to come back in and compete.

If Delta goes bust, there will still be airlines that are just as bad. But if Momofuku goes bust and Uber Eats takes over that space, I'm not sure the sticky buns will be as good.

[Todd Amunrud]

Prepare for the Ultimate Gaslighting* - Julio Vincent Gambuto - Medium

This article spoke to the value of our current pause and how we should take the s#*t wave of gaslighting and denial that will come. Our discussion here in the house is he speaks to those with affluence and low struggle, i.e. we’re looking clearly in the mirror.

[vertical_doug]

As a big picture analysis of American capitalism, and especially Fortune 500 capitalism, he's pretty spot on:



I do wonder, though, how well his logic translates from megacorps to small businesses.

Last week David Chang of Momofuku did an interview in the Times where he speculated that what will happen with the mass bankruptcy of the independent restaurant world isn't that a new wave of innovative new restaurants will occur. Instead, in the short to medium term, big chains and Uber Eats-backed ghost kitchens will be the only ones with the capital to move into the market that independent restaurants have vacated. And, in his view, we'll end up with food-by-algorithm for the next ten years.

If Chang's vision plays out, the failure of the restaurant industry wouldn't open up opportunity for the next generation as Galloway sees it. Instead, it would be a transfer of opportunity from independent entrepreneurs to the shareholder class; what used to be Vini's Deli owned by Vini is now Green Concoction Express owned by Uber. Once that market space is occupied by corporations, it's going to be tough for an independent entrepreneur to come back in and compete.

If Delta goes bust, there will still be airlines that are just as bad. But if Momofuku goes bust and Uber Eats takes over that space, I'm not sure the sticky buns will be as good.

You make a good point. But the reality is slightly opposite. Even though Momofuku may be getting some loans to keep a float, UBER is getting many more forms of assistance. The trend you see above is going to be accelerated by current Government actions. You will end up accelerating the Ghost Kitchens with Uber Eats not stopping it.

I am more focused on the large ZOMBIE corporations. Because Ford is a fallen angel, they are one of the biggest beneficiaries of Friday's FED action. But FORD should have died in 2009, and was saved by a bailout. It will probably die now except for the FED supporting its debt. The irony is TESLA with little debt actually would whether this storm better than FORD. I would be okay with TESLA surviving and FORD dying of natural causes. That's how capitalism is suppose to work.

[Matthew Strongin]

As a big picture analysis of American capitalism, and especially Fortune 500 capitalism, he's pretty spot on:



I do wonder, though, how well his logic translates from megacorps to small businesses.

Last week David Chang of Momofuku did an interview in the Times where he speculated that what will happen with the mass bankruptcy of the independent restaurant world isn't that a new wave of innovative new restaurants will occur. Instead, in the short to medium term, big chains and Uber Eats-backed ghost kitchens will be the only ones with the capital to move into the market that independent restaurants have vacated. And, in his view, we'll end up with food-by-algorithm for the next ten years.

If Chang's vision plays out, the failure of the restaurant industry wouldn't open up opportunity for the next generation as Galloway sees it. Instead, it would be a transfer of opportunity from independent entrepreneurs to the shareholder class; what used to be Vini's Deli owned by Vini is now Green Concoction Express owned by Uber. Once that market space is occupied by corporations, it's going to be tough for an independent entrepreneur to come back in and compete.

If Delta goes bust, there will still be airlines that are just as bad. But if Momofuku goes bust and Uber Eats takes over that space, I'm not sure the sticky buns will be as good.

Yes. There's a lot of complexity and in many cases it's the the independent businesses that will vanish in favor of megacorps. Bailouts or not. Look what's happening to retail. With nobody able to go out shopping at local establishments, or what few there are, Amazon is stepping in to fill that last bit of the market they didn't own. The end result isn't disruption that paves the way for future generations. It's the final nail in the coffin for the family owned and operated business that is, in many ways, one of the final barriers between our current world and the world of the prophetic masterpiece, Idiocracy.