The Fed and the ECB fired their trillion dollar bazookas only to see them fizzle. It’ll take a lot more than that to restore confidence in their ability to contain the contagion. And I don’t think they can do it.
Join me for an epic rant about the failure of bank socialism, why the EU cannot compete with the U.S. politically and how the tragedy in Italy will hasten their exit from the European Union.
And as we contemplate those things Amazon comes out leading the way to prioritize alleviating suffering by deploying its staggering logistics infrastructure. This is the way the free market puts socialism to rest by serving people’s needs rather than sniping about their motives.
At the end of the day do you care why Amazon got you your food or medicines fast or just that they did.
Warning: This one gets NSFW toward the end.
Show Notes:
Has Anyone Told the ECB Yet It’s Bankrupt?
Amazon Suspends All Non-Essential Shipments
As the Cajun Navy Arrives, Never Forget what Created Them: FEMA’s Failure After Katrina
Previous Episodes:
Podcast Episode #24 – Whitney Webb and Web of Lies in Afghanistan
Podcast Episode #23 – Is it Super Tuesday or Stupid Shrews-day for Democrats?
Podcast Episode #22 – Coronavirus in the Age of Lies
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Tom, first of all, thanks for all the voluminous work you give to the world. I, for one, can’t tell you what a breath of fresh air your clarity and concision are. And, even though we’re fellow travelers from an economic theory point of view, you don’t let ideology cloud your immediate and intermediate outlook. You’re a real world dude!
Could it be that Trump’s floated idea of payroll taxes being dropped until December was trashed at the Senate luncheon Mnuchin attended on Monday? Here’s my bit of speculation. Mnuchin (and or others) mention a 9-month tax holiday. The old codgers around the table belch a little bile and cordon bleu, and repeat the Romney mantra, ‘skin in the game’. There is no way D.C. is going to let American payroll taxpayers off the hook for their monthly pound of flesh. It would completely destroy the ‘powers that shouldn’t be’, and, in one fell swoop, let the average, Joe-six-pack American into the psychological game that 1) they’re paying a boat load of taxes (comparatively) – for little or nothing, and 2) the real money used to ply the masses and keep the military blowing up little brown people around the world is borrowed on their and their children’s backs. (My mental image is ol’, undertaker-looking Mitch McConnell chortling at the idea while he rubs his sickly pasty white fingers together as if he were splaying out Benjamins!)
Wesley,
Thank you. And to your point of course this is what happened. They still want to run the playbook that the only way they can continue to sell debt and run deficits is if there is a guaranteed income to pay them off.
They want MMT to bail out their bad bets while looking magnanimous to the little people. That’s why Mitt’s behind it. He knows most of that money goes right back to him and his as a one-way trade.
Trump should executive order this and fire Mnuchin tomorrow, honestly. That guy is so thoroughly working for Goldman it isn’t funny.
In three months when the pensions begin blowing up, Trump will suspend tax collection and income tax.
With the market in free fall, screaming for helicopter(s) of money, there may be a tax holiday starting next week. Enter stage left the despicable Linsey Graham. If ever there were a more loathsome creature. He’s hellbent on destroying the world, internationally and domestically. (Not that I’m theoretically in favor of bailouts, mind you. This pond scum though wants it all run through him and his warmongering profiteering buddies.)