Open Thread – Weekend 11 March 2023


The Carrousel – Autumn Morning, Camille Pissarro, 1899


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Crossie
Crossie
March 13, 2023 9:07 am

He has described himself as “a Christian, a conservative and a Republican, in that order”, and as “a born-again, evangelical Catholic”.

Every one of these pieces of info is a lie. Pence is not a conservative or a Catholic, there is no such thing as an evangelical Catholic, just Catholic. He is just a cafeteria Christian. And he is definitely not a Republican, he was a Democrat until 1983. Probably changed affiliation to get elected in a Republican state.

Crossie
Crossie
March 13, 2023 9:12 am

The irony of ironies for Pence is that if he supported his president and their voters when it counted he would now be the natural successor for presidency. Treachery tends to ruin the best plans.

Rabz
March 13, 2023 9:20 am

In a reversal of what Janet Yellen said just hours ago, WaPo reports that federal authorities are “seriously considering safeguarding all uninsured deposits at Silicon Valley Bank”

The turnabout was so quick I didn’t get to post an “until they do” (bail out SVB) comment on the inevitable bailout.

calli
calli
March 13, 2023 9:21 am

Penceius? 😀

Whatever the truth of the matter, the US has zero moral authority over any nation, starting November 5 2020. Anything they demand of other countries they should first do themselves.

rosie
rosie
March 13, 2023 9:22 am

While in college, Pence left the Catholic Church and became an evangelical, born-again Christian, to the disappointment of his mother.

He’s full of it.
Incidentally, Morrison claimed to be doing some lay preaching at his church, can you imagine sitting through that?

Rabz
March 13, 2023 9:23 am

Latest version of “too big to fail”:

“Too many gullible idiots will lose their ill-gotten gains.”

calli
calli
March 13, 2023 9:29 am

There’s nothing wrong with being “born again”, happened to me in April 1970. It’s how you then proceed that counts. Many twists and turns and failures and triumphs – the usual thing.

Using it as a justification for “trust me, I’m a Christian” is a bit hot though. Seems it happens a lot in politics.

Robert Sewell
March 13, 2023 9:30 am

ZK2A:
https://www.hmdb.org/m.asp?m=91079
The Zulu memorial. Multiple piccies.

Miltonf
Miltonf
March 13, 2023 9:35 am

Whatever the truth of the matter, the US has zero moral authority over any nation, starting November 5 2020. Anything they demand of other countries they should first do themselves.

That’s exactly right, a formerly great country, maybe the greatest ever, is being eaten alive by grifters and marxist wreckers.

flyingduk
flyingduk
March 13, 2023 9:35 am

In a reversal of what Janet Yellen said just hours ago, WaPo reports that federal authorities are “seriously considering safeguarding all uninsured deposits at Silicon Valley Bank”

The problem being that *there*is*no*money* to do it with. FDIC ‘Insurance’ in the US and here has nothing like the reserves required to pay out on even a small bank failure. Like everything the government does nowadays, its done with printed money. ‘Bailing out’ SVB will simply be funded back to the man in the street via inflation and, to misquote Henry Ford ‘not one person in a hundred will know they are doing it’.

Miltonf
Miltonf
March 13, 2023 9:36 am

Trash like Yellen just never seems to go away.

Crossie
Crossie
March 13, 2023 9:36 am

calli says:
March 13, 2023 at 9:29 am
There’s nothing wrong with being “born again”, happened to me in April 1970.

Confirmation?

Makka
Makka
March 13, 2023 9:36 am

Another Regional closed down;

Nick Timiraos
@NickTimiraos
NEW:

*Signature Bank has been closed

*All depositors of Silicon Valley Bank and Signature Bank will be fully protected

*Shareholders and certain unsecured debtholders will not be protected

*New Fed 13(3) facility announced with $25 billion from ESF to backstop bank deposits

https://twitter.com/NickTimiraos/status/1635044036041121792

But…….

YELLEN: PEOPLE SHOULD FEEL CONFIDENT THE BANKING SYSTEM IS SAFE AND SOUND

Yet…

SP500 Futs; + 0.7%

Makka
Makka
March 13, 2023 9:46 am

Depositor Bailout confirmed. Guessing but I’d say around 90% Dem voters that include heavy hitting contributors, as well as part of the Dem army of censorship drones across social media and elsewhere, climate scam activists and generators of leftist bullshit.

https://www.federalreserve.gov/newsevents/pressreleases/monetary20230312a.htm

Sancho Panzer
Sancho Panzer
March 13, 2023 9:47 am

“In a reversal of what Janet Yellen said just hours ago, WaPo reports that federal authorities are “seriously considering safeguarding all uninsured deposits at Silicon Valley Bank” 

I guess it’s splitting hairs, but they could reimburse depositors without “bailing out” the bank.

Makka
Makka
March 13, 2023 9:49 am

I guess it’s splitting hairs, but they could reimburse depositors without “bailing out” the bank.

They just did.

calli
calli
March 13, 2023 9:53 am

Confirmation was the final bit, Crossie. The surrender, if you like, was done earlier in the year. C.S. Lewis describes the process in a way that I can relate to:

“Imagine yourself as a living house. God comes in to rebuild that house. At first, perhaps, you can understand what He is doing. He is getting the drains right and stopping the leaks in the roof and so on; you knew that those jobs needed doing and so you are not surprised. But presently He starts knocking the house about in a way that hurts abominably and does not seem to make any sense. What on earth is He up to? The explanation is that He is building quite a different house from the one you thought of – throwing out a new wing here, putting on an extra floor there, running up towers, making courtyards. You thought you were being made into a decent little cottage: but He is building a palace. He intends to come and live in it Himself.”

Still quite a few of those walls to knock down. But at least the water supply is fixed. And the drains are getting there.

OldOzzie
OldOzzie
March 13, 2023 9:53 am

Fed Rolls Out Emergency Measures to Prevent Banking Crisis After SVB Collapse

Depositors will have access to all of their money starting Monday, regulators say

U.S. regulators took control of a second bank Sunday and raced to roll out emergency measures to stem potential spillovers from Friday’s swift collapse of Silicon Valley Bank, backstopping both firms’ uninsured depositors and making more funding available to the banking system.

Regulators announced Signature Bank, one of the main banks for cryptocurrency companies, was closed Sunday. The New York bank’s depositors will be made whole, officials said.

Officials took the extraordinary step of designating SVB and Signature Bank as a systemic risk to the financial system, which gives regulators flexibility to backstop uninsured deposits. The Federal Reserve and the Treasury Department also used emergency lending authorities to establish a new facility to backstop bank deposits.

Regulators announced the moves in a joint statement from Treasury Secretary Janet Yellen, Fed Chair Jerome Powell and Federal Deposit Insurance Corp. Chair Martin Gruenberg. The group said that depositors at SVB and Signature would have access to all of their money on Monday.

In a statement Sunday night, the Fed said it “is closely monitoring conditions across the financial system and is prepared to use its full range of tools to support households and businesses, and will take additional steps as appropriate.”

Updates to follow as news develops.

thefrollickingmole
thefrollickingmole
March 13, 2023 9:55 am

The bank shitting itself is classic aliens vs predator stuff.
It doesn’t matter who wins, we lose.

Makka
Makka
March 13, 2023 9:57 am

So instead of doing her fkg job of providing robust oversight to the US banking system (along with the Fed) , Yellen thought it best to join the crew getting photo ops and finding new and innovative ways to burn taxpayer money in corrupt Ukraine. The Fed has also shown (again!) what a totally inept and corrupted bunch they are not ensuring the Billions at SVB were at least insured and now doing the WH bidding by bailing out their Demorat depositors with money voodooed into existence..

The US is crumbling bit by bit before our eyes.

OldOzzie
OldOzzie
March 13, 2023 9:58 am

The AFR View

SVB collapse offers a salutary monetary policy lesson

Monetary policy can only ignore fundamentals – or indulge crank theories – for so long before ultimately having to pay a price for restoring normalcy to the price of money.

Something was always destined to blow up in financial markets as part of the painful adjustment to the end of the ultra-cheap money era. At this stage, Silicon Valley Bank’s $US175 billion collapse does not appear to have exposed global financial crisis-style systemic problems in the American banking system.

Rather, the biggest bank failure since 2008 seems to be a cautionary tale about extreme monetary policy amid the return of high inflation, higher interest rates and the correction that has triggered across the global technology sector.

The GFC meltdown, which broke former US Federal Reserve chair Alan Greenspan’s complete faith that free and open markets would always function, was spawned by cheap money, excessive financial leverage and social engineering from Depression-era government lending bodies that extended mortgages to borrowers who could never repay.

Exotic and opaque financial products concealed and concentrated risk instead of spreading it. When an uptick in US interest rates burst the American housing bubble, panicked capital markets, which were unable to tell what was on the other side of the transaction, seized up. That led to the Fed’s TARP – Troubled Asset Relief Program – bailout of “too big to fail” Wall Street banks that ultimately paved the way for the rise of Donald Trump.

This time it is different. Established in 1983, SVB was the go-to bank for founders and entrepreneurs in the world’s pre-eminent technology precinct. It was awash with cash deposits from start-ups funded by investors searching for yield amid ultra-cheap money. It put much of these deposits into supposedly safe US Treasury bonds. But when the Fed jacked up official interest rates to fight the post-pandemic inflation outbreak, SVB found that the value of those bonds fell just as their yields rose.

Amid the rout of technology shares on the sharemarket, tech firms suddenly sought to draw on their deposits. That forced SVB to sell its bonds at a loss. Unable to raise capital to cover these losses, and facing an old-fashioned funding crisis and bank run, it shut its doors on Friday.

Potential contagion

The question facing US policymakers is whether other banks have unrealised bond losses on the books that might trigger further runs on smaller banks. Bill Clinton-era Treasury secretary Larry Summers says that amid the difficult challenge of bringing down inflation, now is not the time to harp on moral hazard but for regulators to stem any potential contagion.

To shore up confidence, the Federal Deposit Insurance Corporation, which has taken charge of liquidating SVB’s assets, is reportedly set to announce that uninsured depositors will be guaranteed US50¢ on the dollar.

The cash squeeze haircut on technology firms and start-ups is the downside of the extreme monetary policies that distorted capital allocation in the first place. The lesson to learn is that monetary policy can only ignore fundamentals – or indulge crank monetary theories – for so long before ultimately having to pay a price for restoring normalcy to the price of money.

It’s also a reminder that Australia benefits from having well-regulated, well-capitalised, strong and profitable banks.

calli
calli
March 13, 2023 9:59 am

The depositors were always going to be “fortified”.

It’s the Dem Way.

flyingduk
flyingduk
March 13, 2023 10:26 am

Yet… SP500 Futs; + 0.7%

Of course – any banking issues will be met with more printed money, which is always good for non monetary assets like stocks, property – and gold and BTC. There might be an initial stampede of the herd, but this will be ‘transitory’ once the money taps get opened again.

flyingduk
flyingduk
March 13, 2023 10:32 am

The Fed is planning to ease the terms of banks’ access to its discount window, giving firms a way to turn assets that have lost value into cash without the kind of losses that toppled SVB’s Silicon Valley Bank.

I could use that sort of facility for a number of my assets – my 2020 Trump betting slips with Centrebet for a start….

Reminds me of what my dad said all those years ago when the SA State Bank collapsed …. I could sure use one of those ‘non performing loans’.

OldOzzie
OldOzzie
March 13, 2023 10:34 am

dover

blog seems to have a problem on Chrome – this is from Firefox

https://newcatallaxy.blog/2023/03/11/open-thread-weekend-11-march-2023/comment-page-4/#comments

A timeout occurred Error code 524
Visit cloudflare.com for more information.
2023-03-12 23:22:36 UTC

Sancho Panzer
Sancho Panzer
March 13, 2023 10:35 am

From the AFR article.

It put much of these deposits into supposedly safe US Treasury bonds. But when the Fed jacked up official interest rates to fight the post-pandemic inflation outbreak, SVB found that the value of those bonds fell just as their yields rose.

.1 Any amatuer investor who doesn’t know that the price of bonds and other fixed interest securities varies as subsequent like securities become available needs to put the cue in the rack. Much less a bank.
.2 Technically the yield doesn’t rise for existing holders. It does for new buyers who are looking at fresh issue 4-5% bonds who will buy your 2% bonds at something below face value of $100 to earn a comparative yield.

Leon L
Leon L
March 13, 2023 10:36 am

From Sundance at The Treehouse – The parliamentary motive behind the Jan 6 Fedsurrection.

There are two possibilities: Millions of people, against all the odds, hitting all-time records even past Obama and Clinton, voted for a naval gazing ambulatory pathological racist moron. And chose Joe Malarkey as their leader. Or this was a coup, a conspiracy, and a treasonous manipulation regime change because President Trump could not be controlled by the deep state and globalists who OWN AND OPERATE WASHINGTON DC.

BOTH POSSIBILITIES ARE TERRIFYING.

The only way for THE PEOPLE to gain power in this country is to force the transfer of it. If truth isn’t the fuel and vehicle, we will just be replacing deck chairs and hitting the next series of expected ice bergs.

Just a conspiracy theory of course.
The 40000+ hours of security tapes no one can see because it is a threat to “democracy”.
Just like all those over classified documents.

Pence & McConnell colluding with Pelosi in a coup.
Democracy died long ago and not just in the USA.
It is magical thinking that we will just return to normal from here.

Delta A
Delta A
March 13, 2023 10:36 am

bespokesays:
March 13, 2023 at 8:27 am
Tucker Carlson: The truth needs to come out

An excellent interview. Thanks for posting, bespoke.

Dr Faustus
Dr Faustus
March 13, 2023 10:45 am

In Masters of the Universe news:

The Federal Reserve’s stress test assesses whether banks are sufficiently capitalized to absorb losses during stressful conditions while meeting obligations to creditors and counterparties and continuing to be able to lend to households and businesses.1 The Federal Reserve Board uses the stress test to set the stress capital buffer (SCB) requirement, which integrates the stress test with the non-stress capital requirements into one forward-looking and risk-sensitive framework.2

The Federal Reserve conducts the stress test annually, using a minimum of two different scenarios to test a bank’s capital adequacy during times of stress, and publicly discloses bank-level results. Banks must also conduct and publicly disclose the results of their company-run stress tests based on their risk profiles, as defined by the Board’s stress testing rules.3

Capital stress tests, which played a role in bolstering confidence in the capital positions of U.S. banks during the 2007-09 financial crisis, have become a critical supervisory tool.

Supervisory Tools.
[clap … clap … clap]

Delta A
Delta A
March 13, 2023 10:52 am

bespokesays:
March 13, 2023 at 8:27 am
Tucker Carlson: The truth needs to come out

An excellent interview. Thanks for posting, bespoke. 🙂

flyingduk
flyingduk
March 13, 2023 10:52 am

Interesting take on the ‘Insurance’ of bank deposits by the FDIC:

” Given the lack of assets to back up the guarantee, the $250k number is a made up number anyway – so make up a bigger number and insure all deposits”

Its about as much of an ‘insurance’ scheme as the NDIS – no premiums paid, no penalty for failure, just printed $ to produce the cheques, and no doubt a big bureaucracy to skim it along the way.

Makka
Makka
March 13, 2023 10:54 am

This is how it’s done. Just keep moving the goal posts so the House of Cards stays upright. Mark to Make Believe;

Neil Irwin
@Neil_Irwin
Notable that the new Bank Term Funding Facility allows banks to pledge collateral at par. Meaning holdings of long-dated Treasuries or MBS with mark-to-market losses can unlock liquidity based on original value.

https://federalreserve.gov/newsevents/pressreleases/files/monetary20230312a1.pdf

Zulu Kilo Two Alpha
Zulu Kilo Two Alpha
March 13, 2023 10:54 am

News
Opinion
Andrew Bolt

Andrew Bolt: Voice to Parliament is expensive and unnecessary

With all his engagements at the cricket and Mardi Gras, how could the PM know we’re already paying $160m a year for something claiming to be just like the Voice?
Andrew Bolt
3 min read
March 12, 2023 – 8:25PM
290 comments
Poor Anthony Albanese. How was he to know he already has a Voice to Parliament, telling his ministers what to do for Aborigines?

With all his engagements at the Australian Open, the cricket and the Gay and Lesbian Mardi Gras, how could he know he’s already paying $160 million a year to 1200 people in 39 offices around the country to do exactly that?

How embarrassing, because Albanese keeps insisting we need his Voice in the constitution so “Aboriginal and Torres Strait Islander people have a say in the policies and decisions that affect their lives”.

Yet the National Indigenous Australians Agency is doing that very thing, claims its head, Aboriginal woman Jody Broun: “We lead and influence change across government to ensure Aboriginal and Torres Strait Islander peoples have a say in the decisions that affect them.”

That’s its job, under the government order establishing the NIAA: “to build and maintain effective partnerships with Aboriginal and Torres Strait Islander people … and enable policies, programs and services to be tailored to the unique needs of communities”.

Makka
Makka
March 13, 2023 11:00 am

It’s times like this that it’s worth remembering that the Fed is a private institution, with the big systemic banks – mainly in NY – as it’s shareholders.

So of course self preservation AND self interest will prevail, as always. The taxpayer never will get a look in. That’s the system, like it or lump it.

Roger
Roger
March 13, 2023 11:06 am

The US is crumbling bit by bit before our eyes.

It started around ’68.

The Reagan/Clinton era was a buck against the long term trend.

Dr Faustus
Dr Faustus
March 13, 2023 11:10 am

That’s its job, under the government order establishing the NIAA: “to build and maintain effective partnerships with Aboriginal and Torres Strait Islander people … and enable policies, programs and services to be tailored to the unique needs of communities”.

And so it will continue after The Voice is formed. Under the much-loved Calma Langton model:

There has been some concern expressed that a National Voice might lead to overlap and differing views on matters being presented on a given topic. The view of the majority of members of the co-design groups is that the National Voice would be well placed to amplify and support the views of existing bodies.

Enlargement.
Nothing is being replaced.
Nobody’s plate will be snatched away.

MatrixTransform
March 13, 2023 11:11 am

woke depositors, their political vanguard

for a long time now the ‘elite’ have been busy eroding particularly, the middle-class worldwide
and VC vehicles are one way their hidden skulduggery remains veiled.

a vast connected universe that marries big bucks, regulatory capture, and their coddled kiddie’s start-ups

IMO, people naively believe that some poxxy startup building software, farming maggots, making pilot-less drones or capturing energy from gas flares, is going prosper and profit purely on it’s own merits.

the start-up ecosystem isn’t just money in +R and D = profit
more like: ( money in +R and D )^ regulatory capture = [stuff] everybody

of course they’re getting bailed out … they’re bailing themselves out

as Carlin said, “it’s a big club and you aren’t in it”

now … eat yr bugs

Makka
Makka
March 13, 2023 11:11 am

There might be an initial stampede of the herd, but this will be ‘transitory’ once the money taps get opened again.

[Fixed]

It’s probably too early yet, BUT we may have turned the corner on BTC and PM’s. The Fed’s plan was always to keep raising until something breaks. I think this weekend’s US bank system events qualify. Additionally , the Fed’s continued raising in the face of this blow up will not go down well with debt burdened punters as they see the bail outs happening again. Votes.

Also, the USD may have just put in a very important top. AUD bottom. Again, early days. But if so, we are going to see much higher PM’s, AUD and many commodities if the USD does in fact make a major decline from here.

Makka
Makka
March 13, 2023 11:13 am

Quote fail.. last 2 paras are my thoughts.

H B Bear
H B Bear
March 13, 2023 11:13 am

It’s also a reminder that Australia benefits from having well-regulated, well-capitalised, strong and profitable banks.

Australian banks are closer to building societies. The banking sector went pretty close to the wind in the 1990s but are unlikely to be the problem this time around. I suspect it may be contained to households.

Delta A
Delta A
March 13, 2023 11:14 am

A timeout occurred Error code 524
Visit cloudflare.com for more information.
2023-03-12 23:22:36 UTC

I had the same when I tried to post my 10:36 comment.

P
P
March 13, 2023 11:14 am

Looking backwards leads us forwards
By Dr Kevin Donnelly -March 12, 2023

Instead of acknowledging, for all its sins and faults, that western nations like Australia over time have evolved into beacons of prosperity and peace in an increasingly hostile world, cultural-left activists, especially those committed to post-colonial theory, denigrate and vilify our institutions and way of life.

At the tertiary level, a survey by the Institute of Public Affairs evaluating 791 courses across 35 Australian universities found, not surprisingly, that students’ educations are dominated by neo-Marxist inspired critical race theory and identity politics.

Whereas school history once traced the evolution of civilisation from Mesopotamia and Egypt to the Greeks and Romans and then to what is now Europe and the United Kingdom, students are now presented with a smorgasbord of woke topics seen through indigenous, environmental and Asian perspectives. Christianity is rarely, if ever, mentioned.

While indigenous activists promoting the voice argue Aboriginal and Torres Strait Islander history and elders must be acknowledged and celebrated, they fail to show the same respect and appreciation for Australia’s British heritage and the debt owed to the European civilisation.

Activists also ignore the reality there is much about indigenous history and culture that is violent, patriarchal and oppressive.

MatrixTransform
March 13, 2023 11:15 am

dover,
spamineater moderated my comment … I only used one f-word

Boambee John
Boambee John
March 13, 2023 11:15 am

OldOzziesays:
March 13, 2023 at 10:34 am
dover

blog seems to have a problem on Chrome – this is from Firefox

https://newcatallaxy.blog/2023/03/11/open-thread-weekend-11-march-2023/comment-page-4/#comments

A timeout occurred Error code 524
Visit cloudflare.com for more information.
2023-03-12 23:22:36 UTC

Similar problem on Edge.

Delta A
Delta A
March 13, 2023 11:16 am

Consequently, I ended up double posting. Sorry about that.

Tom
Tom
March 13, 2023 11:18 am

AFR (h/t OldOzzie):

Monetary policy can only ignore fundamentals – or indulge crank theories – for so long before ultimately having to pay a price for restoring normalcy to the price of money.

Climate change is the most devastating crank theory in the history of humanity.

Teaching our children the world is ending by mischaracterising normal climate cycles as climate armageddon is not only sociopathic abuse of children who believe they’re well educated (when they are, in fact, poorly educated), but an unprecedented unethical misuse of mass media propaganda techniques with the complete cooperation of 100% of journalists and news organisations who have abandoned their role as the public’s eyes and ears.

Around 2015, the US insurance industry calculated that climate change was costing the world $US2 trillion p.a — more than Australia’s GDP. I’m guessing it’s at least twice that by now — all for a crank theory followed as a religious movement by 100% of Western governments.

And people wonder why trust in their political leaders has never been lower.

Boambee John
Boambee John
March 13, 2023 11:19 am

There are two possibilities: Millions of people, against all the odds, hitting all-time records even past Obama and Clinton, voted for a naval gazing ambulatory pathological racist moron. And chose Joe Malarkey as their leader.

Only rusted on leftard morons like m0nty=fa actually believe that Creepy Joe got more votes than Obummer or Shrillary. The DemonRat machine knows the truth, but can never admit it.

Old Lefty
Old Lefty
March 13, 2023 11:20 am

Yet another ABC piece of advocacy masquerading as a reooron a controversial issue – euthanasia – that is just an uncritical puff piece for the so-called progressive view.

https://www.abc.net.au/news/2023-03-13/voluntary-assisted-dying-in-tasmania-phil-laing-last-day/102087180

Chris
Chris
March 13, 2023 11:21 am

I’m still chuckling at the mental image of sTan bursting into tears after being called a mean word.

I try hard to watch zero ABC, so when I eat in a mess with them playing it is jarring how Their ABC looks like a mean girls’ circle of overpaid white women with a selection of token diversities to enhance their status.

Roger
Roger
March 13, 2023 11:21 am

There has been some concern expressed that a National Voice might lead to overlap and differing views on matters being presented on a given topic.

Different views…can’t have that.

That’s why it’s The Voice, singular.

Any indigenous person or group who/which dissents from orthodoxy view will be silenced.

Cassie of Sydney
March 13, 2023 11:21 am

“And he is definitely not a Republican, he was a Democrat until 1983.”

To be fair, that’s the least of Pence’s faults. As recently as the early 2000s, Donald Trump was also a Democrat, and a donor to the Democrat party. The Democrat party of the the early 1980s and even of the early 2000s bears no similarity to the Democrat party of 2023.

Sancho Panzer
Sancho Panzer
March 13, 2023 11:24 am

MatrixTransformsays:

March 13, 2023 at 11:15 am

dover,
spamineater moderated my comment … I only used one f-word

Probably the grammar filter.

Makka
Makka
March 13, 2023 11:24 am

Activists also ignore the reality there is much about indigenous history and culture that is violent, patriarchal and oppressive.

The noble savage is a myth. Violence and brutality was the norm. They were just beyond neanderthals when the British civilization arrived. Nothing to celebrate about indigenous society.

Roger
Roger
March 13, 2023 11:25 am

As recently as the early 2000s, Donald Trump was also a Democrat, and a donor to the Democrat party.

Reagan was a Democrat until 1962.

Many who voted for him as POTUS were ‘Reagan Democrats.’

Knuckle Dragger
Knuckle Dragger
March 13, 2023 11:25 am

To be fair, Armstrong Economics predicted the failure of SVB.

Oh wait.

MatrixTransform
March 13, 2023 11:25 am

from the glossary at Founding Questions – Lighting Up the Endarkenment

Kangaroo Gulag, The: Australia

Boambee John
Boambee John
March 13, 2023 11:26 am

Dr F

And so it will continue after The Voice is formed. Under the much-loved Calma Langton model:

There has been some concern expressed that a National Voice might lead to overlap and differing views on matters being presented on a given topic. The view of the majority of members of the co-design groups is that the National Voice would be well placed to amplify and support the views of existing bodies.

Enlargement.
Nothing is being replaced.
Nobody’s plate will be snatched away.

The iron rice bowls must continue to be filled, each and every day.

How else can struggling activists and academics manage to get by?

Knuckle Dragger
Knuckle Dragger
March 13, 2023 11:30 am

Apropos of editing books – as I understand it, work is currently underway to revise the entire series of Les Norton books written by the late, great Robert G. Barrett:

Les Norton is the protagonist in a series of fiction books written by Australian author Robert G. Barrett. A likeable and laconic Aussie battler, Norton first appears in You Wouldn’t Be Dead For Quids (1984) and is described as stockily built and red-haired who doesn’t mind a fight, a punt or a root

This will result in quite the savings of paper, unless the new ‘improved’ Les starts porking trans women, and begins a series of meaningful dialogues with unruly punters in pubs instead of engaging in amateur dentistry with them.

Boambee John
Boambee John
March 13, 2023 11:31 am

Tom

Teaching our children the world is ending by mischaracterising normal climate cycles as climate armageddon is not only sociopathic abuse of children who believe they’re well educated (when they are, in fact, poorly educated), but an unprecedented unethical misuse of mass media propaganda techniques with the complete cooperation of 100% of journalists and news organisations who have abandoned their role as the public’s eyes and ears.

I read recently, but can’t remember where (it might have been on UnHerd) that the techniques of psychological warfare have now been turned against their own populations by many western governments. One of the weapons used is the compliant media.

Farmer Gez
Farmer Gez
March 13, 2023 11:33 am

Did a bit of fence repair this morning and a couple of local lads where out in the utes with their stag hounds and foxies.
They were on their way to a neighbours place where there’s active fox dens, so I said I’d go and pin drop a spot where there’s always a den.
I found the spot and it’s Fox City!
Mounds of dirt dug out that would fill a good sized box trailer twice over. The boys are going to be in for some good fun.

lotocoti
lotocoti
March 13, 2023 11:33 am

It started around ’68.

The 1964 election.

Makka
Makka
March 13, 2023 11:40 am

the techniques of psychological warfare have now been turned against their own populations by many western governments.

The Century of Self

The Century of the Self – BBC Documentary (2002

https://www.youtube.com/watch?v=jymMjNc0igI&ab_channel=GnosisDocumentaries

Happiness Machines.

The Engineering of Consent

Dot
Dot
March 13, 2023 11:43 am

https://www.morningstar.com/news/marketwatch/20230311320/10-banks-that-may-face-trouble-in-the-wake-of-the-svb-financial-group-debacle

OH NO

10 banks that may face trouble in the wake of the SVB Financial Group debacle

Anyway…

Makka
Makka
March 13, 2023 11:44 am

The Century of Self is over 3 hours long. But, it covers a lot of important ground in understanding what we are in today.

Well worth the time for those who haven’t yet seen it. Adam Curtis at his best.

Big_Nambas
Big_Nambas
March 13, 2023 11:45 am

They were just beyond neanderthals when the British civilization arrived. Nothing to celebrate about indigenous society.

But, but Professor Bruce Pasco says………………………………………………..

Boambee John
Boambee John
March 13, 2023 11:50 am

They were just beyond neanderthals when the British civilization arrived. Nothing to celebrate about indigenous society.

A culture that did not change, even in beneficial ways, for tens of thousands of years, is somehow regarded as worthy of celebration. How many of the activists and academics “celebrating” this culture are willing to adopt it as theirs?

Knuckle Dragger
Knuckle Dragger
March 13, 2023 11:55 am

Climate change clickbait from the Courier-Mail:

More storms brewing after brutal lightning assault on South East

A ‘brutal lightning assault’.

It’s good, but could have gone a bit further. I would have gone for ‘insane lightning rampage’.

JC
JC
March 13, 2023 11:55 am

Does anyone know if Martie Armstrong predicted Signature Bank of NY also hitting the skids, and if he also predicted the weekend bailout of depositors money? I think he did, back in 1981.

Robert Sewell
March 13, 2023 11:57 am

Makka:

It’s probably too early yet, BUT we may have turned the corner on BTC and PM’s. The Fed’s plan was always to keep raising until something breaks. I think this weekend’s US bank system events qualify. Additionally , the Fed’s continued raising in the face of this blow up will not go down well with debt burdened punters as they see the bail outs happening again. Votes.
Also, the USD may have just put in a very important top. AUD bottom. Again, early days. But if so, we are going to see much higher PM’s, AUD and many commodities if the USD does in fact make a major decline from here.

Can you enlarge on this for us non economists, please?
I’m trying to work out what to spend some devaluing cash on – ammo, food, or gold. ATM gold is ahead on points.

Crossie
Crossie
March 13, 2023 11:57 am

Cassie of Sydney says:
March 13, 2023 at 11:21 am
“And he is definitely not a Republican, he was a Democrat until 1983.”

To be fair, that’s the least of Pence’s faults. As recently as the early 2000s, Donald Trump was also a Democrat, and a donor to the Democrat party. The Democrat party of the the early 1980s and even of the early 2000s bears no similarity to the Democrat party of 2023.

Fair comment Cassie, though neither Trump no Reagan played fast and loose with their voters or colluded with the Dems against them. Pence did that. From what I understand his office staff were instrumental in getting rid of General Flynn because he was advocating strategies that were against the Obama admin practices, particularly regarding defence and national security. Pence is a bad man though sadly that did not become known until it was too late.

Bruce of Newcastle
Bruce of Newcastle
March 13, 2023 11:58 am

Happiness Machines.

Lefties are notoriously miserable. So if the idea is to turn people lefty to make them happier it isn’t working.

David Brooks: Liberals are sadder than conservatives (11 Mar)

First, a catastrophizing mentality. For many, America’s problems came to seem endemic: The American dream is a sham, climate change is unstoppable, systemic racism is eternal. Making catastrophic pronouncements became a way to display that you recognized the brutalities of American life.

He’s a notorious NYT opinionista, so he’s hunting around like a blind man trying to work out what the reason is. And it’s obvious from that paragraph: the difference between conservatives and liberals is that conservatives don’t believe any of this codswallop. Brooks does, hence he’s clueless about the real reason.

rickw
rickw
March 13, 2023 11:58 am

More storms brewing after brutal lightning assault on South East

BOM: “Today was like a scene out of Sharknado…..”

Chris
Chris
March 13, 2023 12:01 pm

I read recently, but can’t remember where (it might have been on UnHerd) that the techniques of psychological warfare have now been turned against their own populations by many western governments. One of the weapons used is the compliant media.

Among our weapons we number:
A compliant media
Shadowbanning by online companies acting as agents of GO/NGO/any pube with an axe to grind.
Indefinite detention without trial or a show trial skipping straight to penalty phase.
An almost fanatical devotion to the Pope, er i mean the narrative that is shared by my peers and therefore myself.

Sancho Panzer
Sancho Panzer
March 13, 2023 12:03 pm

JCsays:

March 13, 2023 at 11:55 am

Does anyone know if Martie Armstrong predicted Signature Bank of NY also hitting the skids, and if he also predicted the weekend bailout of depositors money? I think he did, back in 1981.

No.
I am pretty sure that was his predictions about the eruptions of Mt Pinatubo and Mt St Helens.

Dot
Dot
March 13, 2023 12:05 pm

Gold in a rising interest rate environment?

There is a risk hedge, but:

Gold has been trending up since 2006 (perhaps even 1999) – I blame the great moderation.

It had two later rallies with QE and COVID accommodation.

Each time saw lowering rates and increased quantity of money.

There’s only a couple of peaks where you would have lost since 1973 over the long run – in cent years, there are three peaks we haven’t gone past again…

(and 1779/80 would have seen a very long time to recoup losses – roughly 2007).

duncanm
duncanm
March 13, 2023 12:05 pm

A culture that did not change, even in beneficial ways, for tens of thousands of years, is somehow regarded as worthy of celebration.

it certainly was stuck in the mud… even with regular contact with more organised societies like the Makassars.

Would be an interesting study – presumably the inter-tribal isolation halted a lot of communication and sharing of new ideas. A measure of that would be the relative progress of Northern mainlanders, Southerners, and the Tasmanians.

rickw
rickw
March 13, 2023 12:07 pm

The noble savage is a myth. Violence and brutality was the norm. They were just beyond neanderthals when the British civilization arrived. Nothing to celebrate about indigenous society.

A short flight north of Australia and you can see a pretty intact remnant of that.

Plenty of PNG women think that if their husband doesn’t give them a decent flogging every now and then he doesn’t care about them.

Crossie
Crossie
March 13, 2023 12:07 pm

A culture that did not change, even in beneficial ways, for tens of thousands of years, is somehow regarded as worthy of celebration. How many of the activists and academics “celebrating” this culture are willing to adopt it as theirs?

BJ, the activists and academics see themselves as idealistic anthropologists. They don’t want to live the traditional way or have it inflicted on their children but they don’t mind playing anthropological games with other people. The remote communities are encouraged but when they don’t comply with their expectations they are ignored, out of sight out of mind. In effect the would-be anthropologists are nothing more than zoo keepers who are not allowing the remote communities to join the rest of Australian society as that would ruin their theses.

Dot
Dot
March 13, 2023 12:08 pm

I’m noticing a lot of ads trying to improve public image lately.

THIS BLOG, BROUGHT TO YOU BY PFIZER.

They seem like nice people.

H B Bear
H B Bear
March 13, 2023 12:11 pm

Would be an interesting study …

Not if you wanted someone to talk to at morning tea.

Makka
Makka
March 13, 2023 12:11 pm

Can you enlarge on this for us non economists, please?

I’m no economist, thank you very much!

Gold generally trends inverse to USD . And silver. IMO (not advice) the USD might have put in an important top. Have to see more yet, however. Why, because the chances of Powell raising beyond market expectations and crashing the US Regional Bank system, which is under severe stress as this weekend’s events have shown, have reduced dramatically.

Markets expect US interest rates will rise within expectations so the upside potential in USD’s just evaporated. It’s all priced in. That smells like a top but not confirmed. That’s why I think PM’s (& AUD) are once again looking sound at these levels. BTC too, up ~10% today.

Boambee John
Boambee John
March 13, 2023 12:13 pm

Crossie

In effect the would-be anthropologists are nothing more than zoo keepers who are not allowing the remote communities to join the rest of Australian society as that would ruin their theses.

“anthropologists” is a strange way to spell “sociopaths”.

H B Bear
H B Bear
March 13, 2023 12:13 pm

I’ve been working on my public image for over 50 years. It’s a work in progress. There are good days and not so good days.

Crossie
Crossie
March 13, 2023 12:14 pm

He’s a notorious NYT opinionista, so he’s hunting around like a blind man trying to work out what the reason is. And it’s obvious from that paragraph: the difference between conservatives and liberals is that conservatives don’t believe any of this codswallop. Brooks does, hence he’s clueless about the real reason.

Bruce, as you say conservatives don’t believe in the environmental apocalypse therefore they will view the future positively which will definitely lead to a happier existence. Clever people like David Brooks can see the result and the causes yet still not able to connect the dots. Mystifying.

Chris
Chris
March 13, 2023 12:14 pm

There are two possibilities: Millions of people, against all the odds, hitting all-time records even past Obama and Clinton, voted for a naval gazing ambulatory pathological racist moron. And chose Joe Malarkey as their leader.

OR: After four years of Democrat/Media Shrieking Complex going nuts at the idea of Trump, the ‘anyone but Trump’ feeling motivated higher turnout and much bigger ground game than even throwing palm branches in front of Obama, resulting in an unbeatable ‘margin of fraud’.

rickw
rickw
March 13, 2023 12:15 pm
H B Bear
H B Bear
March 13, 2023 12:19 pm

Makka – certainly a test of courage to hold the course. The real question is SVB the start of more to come? The US has a much longer history with bank failures than elsewhere such as the UK or Aust where they are relatively rare but not unknown.

Roger
Roger
March 13, 2023 12:21 pm

Would be an interesting study – presumably the inter-tribal isolation halted a lot of communication and sharing of new ideas.

I don’t know where anthropology is on this now (I shudder to think!), but I would imagine that the totemic worldview of the aborigines, which was multi faceted in that it governed individual, social and ‘religious’ life (explanation of origins etc.), was extremely resistant to change. Thus when the system collapsed through contact with white settlement, the people became a demoralised people caught between two worlds, in neither of which could they function properly. The kindest, most humane policy under such circumstances was assimilation into the mainstream culture.

Crossie
Crossie
March 13, 2023 12:23 pm

Who is doing better by indigenous Australians? The people who want them to preserve their traditional lifestyle or those who want them to join the wider society while keeping the more useful traditions?

In the light of the way the remote communities and semi-remote communities in urban areas are financed and provided with food, housing and technical resources they cannot live a traditional lifestyle.

Similar problems are faced by all migrants. In the beginning they cling to their old traditions but over time they adopt the majority culture and keep only the best of their original culture. Encouraging indigenous Australians to remain in their remote communities only encourages the worst aspects of their traditions and even exaggerates them. The world is too small a place and everyone has moved on.

Makka
Makka
March 13, 2023 12:25 pm

The real question is SVB the start of more to come?

Undoubtedly. But the Fed just signaled they will bail out depositors by creating money as only they can do. Behind the curtain, the Fed will be working frantically getting at risk banks into shape of some sort, mainly to keep them out of the headlines.

Let’s see if discussion of the 2% inflation target starts to get legs, raising it to around 3% . Taking the pressure of IR hikes will be a really big deal from now on. No matter what Powell blathers about.

rickw
rickw
March 13, 2023 12:28 pm

There are good days and not so good days.

Pants related?

Makka
Makka
March 13, 2023 12:29 pm

Wound down in just 1 year? Optimistic, I’d say.

B?RTON
@Barton_options
The new Bank Term Funding Program is likely to expand Fed’s balance sheet by $100-200Bn in short order. This is effectively a one-shot QE program that will be wound down in one year.

This sudden injection of liquidity is likely to be very positive for stonks in the short term.

Dot
Dot
March 13, 2023 12:33 pm

I’d subscribe to a Makka’s Investment Newsletter over Martin A Armstrong’s fraudulent nonsense.

Dot
Dot
March 13, 2023 12:34 pm

Meriwether, Dimon, Saccocia…

All massive losers who are definitely bigger losers than you are, but much, much more financially successful than you are.

Makka
Makka
March 13, 2023 12:37 pm

Lefties are notoriously miserable. So if the idea is to turn people lefty to make them happier it isn’t working.

You should know by now Bruce that right/left is irrelevant. There are only parasitic organisation fighting for our vote to obtain the keys to the Treasury. It’s called Democracy these days. Centuries back it was Kings, Barons and other nobles squabbling over land , serfs and the assets they coveted.

Century of Self explains how the parasites in power go about their business of duping citizens into believing them . That’s where you see the extremely valuable role of the MSM playing it’s part.

Makka
Makka
March 13, 2023 12:37 pm

Lefties are notoriously miserable. So if the idea is to turn people lefty to make them happier it isn’t working.

You should know by now Bruce that right/left is irrelevant. There are only parasitic organisation fighting for our vote to obtain the keys to the Treasury. It’s called Democracy these days. Centuries back it was Kings, Barons and other nobles squabbling over land , serfs and the assets they coveted.

Century of Self explains how the parasites in power go about their business of duping citizens into believing them . That’s where you see the extremely valuable role of the MSM playing it’s part.

Makka
Makka
March 13, 2023 12:40 pm

Dunno hoe that posted twice, sorry.

Not advice dotty- my opinions only.

Farmer Gez
Farmer Gez
March 13, 2023 12:41 pm

BoM forecast for SEQ in music.

Why it’s greased lightnin’

Sancho Panzer
Sancho Panzer
March 13, 2023 12:42 pm

Catallaxy going Bing-Bong! … you have no access.
My ISP having a power outage and going off the air.
Thank God I still have 6PR to keep me informed.

Sancho Panzer
Sancho Panzer
March 13, 2023 12:44 pm

Dotsays:

March 13, 2023 at 12:33 pm

I’d subscribe to a Makka’s Investment Newsletter over Martin A Armstrong’s fraudulent nonsense.

With all due respeck to Makka, that is very, very faint praise.

Dot
Dot
March 13, 2023 12:46 pm

Makka’s takes on this stuff is usually pretty good, once again faint praise, but better than some “professional” economics editors.

The Century of Self may be a great work, but consider that the legal profession has been the aristocracy in the West since Henry VIII died and Richard I, Baron Rich of Lees became Chancellor of England.

Lysander
Lysander
March 13, 2023 12:49 pm

NATO preparing for urban warfare in operation Orion:

https://twitter.com/DravenNoctis/status/1635023189754486785?s=20

Running drills in the streets of Paris..

Christine
Christine
March 13, 2023 12:50 pm

“assimilation into the mainstream culture”
One group, the aboriginal footballers, don’t tend to go back to their communities to find an aboriginal girlfriend. Imagine the community joy if this happened. Most seem to favour blonded, white girlfriends/wives. So the ‘proud’ declaration doesn’t mean a great deal.

Lysander
Lysander
March 13, 2023 12:51 pm

I also see the Australian Army’s latest recruitment ad doesn’t have soldiers running through fields of jumping out of helicopters etc…

https://twitter.com/BernieSpofforth/status/1634933488532221952?s=20

It has them controlling a domestic population…

Makka
Makka
March 13, 2023 12:54 pm

The Century of Self may be a great work, but consider that the legal profession has been the aristocracy in the West since Henry VIII died and Richard I, Baron Rich of Lees became Chancellor of England.

They wanted to find a method/system of peacefully transferring power, inheritance, money and assets that reduced involve the violence , death and war inflicted on their families. The object of self interest however was always paramount.

duncanm
duncanm
March 13, 2023 12:57 pm

Lysandersays:
March 13, 2023 at 12:51 pm
I also see the Australian Army’s latest recruitment ad doesn’t have soldiers running through fields of jumping out of helicopters etc…

you’ll be glad to hear they think most threats are internal.

Knuckle Dragger
Knuckle Dragger
March 13, 2023 1:03 pm

Warning! Warning!

If you put a child’s bunk bed under a ceiling fan, and a kid starts jumping while on the top bunk – well, absolutely nobody could have foreseen the result (NewsCorpse):

Queensland mum Jess Pierce wants to warn other parents about the unassuming perils of ceiling fans, after her daughter’s cheek was sliced open.

More accurately, this could have been represented as:

‘Queensland attention-seeker and beauty pageant tiger mom wants public recognition after child is injured doing child things.’

A confident kid, when she wasn’t playing with her brothers, she was dressing up and having a ball. In fact, she’d enjoyed taking part in pageants since she was four, dancing on stage and giving speeches in beautiful gowns. She’d even been invited to take part in a contest in Las Vegas, representing Australia, in 2019.

‘I dragged my child to every beauty pageant I could find since she could walk, as I intend to live vicariously through my child by publicly vilifying my child’s competition, and particularly their own mothers. My intent was to defray the hideous costs involved through prizemoney, and by live-streaming my daughter’s day to day existence on Instagram.’

My niece had been injured by a fan years earlier, so I’d spoken to my kids often about the dangers of getting close to a moving one. This meant I was confident Savana would be safe.

But 10 minutes later, the eldest girl came running. ‘Savana is hurt from the fan,’ she said, panicked.

‘My daughter rightly ignores me because everything that comes out of my greedy gob is a criticism of her eating habits.’

Rushing in, I found her lying on the top bunk, blood gushing from her face. The spinning blades were still whirring madly.

‘I found my income stream lying on the top bunk, the gnashing blades of death whirring madly as though they were frustrated at being unable to finish the job.’

The laceration was more than 8cm long and 2cm deep. Soaked in so much blood, it was impossible to tell if her eye had been injured. She could be blind, I feared.

‘Miss Junior Blind Australia doesn’t have the prizemoney on offer, I feared.’

Now, five months on, Savana is still recovering. She’s permanently lost lower eyelashes on her left eye and will need surgery down the road to stop her eyelid drooping.

‘I intend to sue everyone I can identify for this, including the makers of the bunk bed, the fans and the plastic surgeons.’

Already practising for a pageant in July, she’s hoping to defend her title as Petite Miss Australia Regency International. No matter the outcome though, she’s always a winner to me.

‘She will be dumped in favour of a second or third-pick sibling, who will no doubt disappoint and impoverish me as I pursue my goal of matriarchal pageant fame.’

This entire saga is an unintentional advertisement for parental licensing.

Dr Faustus
Dr Faustus
March 13, 2023 1:05 pm

I’ve been working on my public image for over 50 years. It’s a work in progress. There are good days and not so good days.

Perhaps wear pants?
And stop being obnoxious about Queensland.

Try it, at least.

rickw
rickw
March 13, 2023 1:08 pm

It has them controlling a domestic population…

Completely reliant on the population playing nice. If they keep this shit up long enough, that will change, then they’re all f’cking dead, out numbered and outgunned.

Barking Toad
Barking Toad
March 13, 2023 1:09 pm

the late, great Robert G. Barrett:

Loved his yarns Knuckle.

Especially when Mr Wobbly got involved.

rickw
rickw
March 13, 2023 1:14 pm

Queensland mum Jess Pierce wants to warn other parents about the unassuming perils of ceiling fans, after her daughter’s cheek was sliced open.

Who’s stuck a hand in a ceiling fan while pulling on a T shirt?

At least the modern wooden blades are a bit safer then the old school metal ones, almost capable of slicing a duster in half!

(Remember that? 40’C day, school fans flat out, loft the duster into the blades right near the tip!!)

Mother Lode
Mother Lode
March 13, 2023 1:19 pm

There has been some concern expressed that a National Voice might lead to overlap and differing views on matters being presented on a given topic.

I believe the solution, in the case two incompatible recommendations/demands are made, will be to fund both.

Politicians wouldn’t want to have anyone lose out because those who do might call them racist.

And its only $billions of other people’s money.

bons
bons
March 13, 2023 1:22 pm

For flying cats.
A speaker at an event I attended yesterday discussed her mother who was a professional aviator who had campaigned tirelessly on behalf of General Aviation to combat Civil Aviation Authority overreach in the General Aviation sector.
In a refrain familiar to many Cats she often complained that Civil Aviation was populated by out of touch ex-RAAF flying instructors.
Her anti-CA passion derived from 1946 when she and three men set up a local aeroclub. At the time the Coutier Mail; laughingly referred to as a newspaper; was running a series of promotions in support of Queensland aviation startups.
They arranged to visit the new club but surprised everyone by turning up with a Civil Aviation bureaucrat who immediately shut down their airstrip.
Neither media nor bureaucracy have ever changed.

rickw
rickw
March 13, 2023 1:24 pm

For urban fighting use iron sights and aim for center mass, don’t try and be a sniper this isn’t a video game, find the biggest target and hit it.

The way I’m teaching the kids to shoot is quite different to how I was taught to shoot. It’s no target plinking exercise.

It’s “shoot fast”, gun from low ready, front hand well forward, “go”! The Daisy BB gun, with iron sights and mini coke can @ 10m is proving to be great for this!

Mother Lode
Mother Lode
March 13, 2023 1:25 pm

I’m still chuckling at the mental image of sTan bursting into tears after being called a mean word.

I feel sorry for the mean word.

Cassie of Sydney
March 13, 2023 1:28 pm

“From what I understand his office staff were instrumental in getting rid of General Flynn because he was advocating strategies that were against the Obama admin practices, particularly regarding defence and national security. Pence is a bad man though sadly that did not become known until it was too late.”

I didn’t know about his staff being instrumental is getting rid of Flynn.

I wouldn’t call Pence a “bad man”, however I would call him a very weak, spineless, and supine man.

shatterzzz
March 13, 2023 1:36 pm

Oh dear ..Donnell Wallam, the netballer, who cost Netball Oz the Gina Rinehardt sponsorship has been dropped from the Oz squad .. she just ain’t good enuf! ….. soooooo sad!

Salvatore, Understaffed & Overworked Martyr to Govt Covid Stupidity

From BoN @ 7.10am:

Agnes Callamard, secretary-general of Amnesty International, issued a statement in response to the profits castigating the company for profiting from global demand for its product:

“It is shocking for a company to make a profit of more than $161 billion in a single year through the sale of fossil fuel –- the single largest driver of the climate crisis.”

As are others, I’m struggling to find the ‘Prisoner of Conscience‘ angle to that statement.

GreyRanga
GreyRanga
March 13, 2023 1:51 pm

Knuckles your succinct description of ‘living through her daughter’ mother’s anguish is something to behold. It was so nice nice to read without the woke bleeding heart reactionary slant.

shatterzzz
March 13, 2023 1:53 pm

There are still worthwhile jobs out there ..!
staff at Channel 10 get 70, yes! seventy, sick days per year ..!

GreyRanga
GreyRanga
March 13, 2023 1:58 pm

Who’ stuck a hand in the ceiling fan while pulling on a tee shirt? I’d put my hand up but it got lopped off.

Sancho Panzer
Sancho Panzer
March 13, 2023 2:03 pm

bons at 1:22.
It’s a balancing act.
We expect fairly tight regulation of RPT flights, as long as the regulation focuses on safety and, to a lesser extent, customer amenity.
What about commercial charters?
Well, the families of those who died in the Wally-World helo collision may have a view on that.
Yes, yes, I know. Hallward will be here shortly to tell me how thick and voluminous their manuals were and how they were regulated to death. Truth is they weren’t. The initial report hints at non compliance with their own procedures. Regulation is a combination of having the rules and compliance with/enforcement of the rules.
What about Citizen Pilots wet-hiring aircraft? Should they be covered by some sort of regulation?
There is even a level of public interest in regulating private owner-operators to a degree.
The question is, like all regulation, where the balance lies between public safety and expensive and futile bureaucracy.

JC
JC
March 13, 2023 2:05 pm

We’re highest anti-depressant users in the world? Wow!

https://twitter.com/stillgray/status/1634617593356259332/photo/1

Kneel
Kneel
March 13, 2023 2:07 pm

“It is shocking for a company to make a profit of more than $161 billion in a single year through the sale of fossil fuel –- the single largest driver of the climate crisis.”

Oh my goodness yes! They should reduce the price, not many will argue.
Just a small, teeny, tiny problem with that – it might, err, fuel demand for more fossil fuels.
Don’t worry though – I’m sure governments around the world would be only too happy to increase taxes on said fuels. To save the planet, you understand.
And when they run out of oil, they can always sell… errr… ummm… Sand? Camels? Sunshine?

Delta A
Delta A
March 13, 2023 2:07 pm

Crossiesays:
March 13, 2023 at 12:23 pm
Who is doing better by indigenous Australians? The people who want them to preserve their traditional lifestyle or those who want them to join the wider society while keeping the more useful traditions?

Tony Abbott had the right idea IMO, but of course he was howled down by Lefty virtue signallers. This from The Guardian in March, 2015:

Tony Abbott has shrugged off the decision to close 150 Western Australian remote Indigenous communities, saying the taxpayer should not have to fund people’s “lifestyle choices”.

“What we can’t do is endlessly subsidise lifestyle choices if those lifestyle choices are not conducive to the kind of full participation in Australian society that everyone should have,” Abbott said … on Tuesday.

Eight years later the remote communities are still being funded and the violence continues.

JC
JC
March 13, 2023 2:11 pm

Technically, third highest.

OldOzzie
OldOzzie
March 13, 2023 2:12 pm

rickw says:
March 13, 2023 at 12:07 pm

The noble savage is a myth. Violence and brutality was the norm. They were just beyond neanderthals when the British civilization arrived. Nothing to celebrate about indigenous society.

and

Boambee John says:
March 13, 2023 at 12:13 pm

Crossie

In effect the would-be anthropologists are nothing more than zoo keepers who are not allowing the remote communities to join the rest of Australian society as that would ruin their theses.

“anthropologists” is a strange way to spell “sociopaths”.

This is Thousands of Years of Aboriginal Progress in Australia & this is nearly 100 years after They were just beyond neanderthals when the British civilization arrived.

comment image

Would be interesting to see the Anthropologists & their children living in such advanced housing!

Dressing as the well dressed woman –comment image

or with great furniture comment image?v=1444636989

from

comment image%3Fv%3D1444636958

OldOzzie
OldOzzie
March 13, 2023 2:16 pm

or with great furniture comment image?v=1444636958

Sancho Panzer
Sancho Panzer
March 13, 2023 2:17 pm

JCsays:

March 13, 2023 at 2:05 pm

We’re highest anti-depressant users in the world? Wow!

Not me.
My future’s so bright, I gotta wear shades.*
My doctor is thinking of prescribing depressants for me.
….
* I could also be naive, delusional and blissfully ignorant.

rosie
rosie
March 13, 2023 2:19 pm

In Pence’s case born again means become a heretic.
His mother was perfectly entitled to be disappointed.
If he wasn’t active in his faith he could have gone to confession and made a fresh start with going to mass, not abandoning the Church for a happy clappy.

Sancho Panzer
Sancho Panzer
March 13, 2023 2:24 pm

A true Demonrat bail-out would have been slanted to the “have nots” or the “have less” classes.
Everyone gets up to $250,000 in full.
From $250k to $1 meg – 50 cents in the dollar.
From $1 meg to $5 meg – 25 cents in the dollar.
Above $5 meg – zippo.
That is, everyone at $5 meg or above gets $1.65 m.
Hardly destitute.

Makka
Makka
March 13, 2023 2:27 pm

We’re highest anti-depressant users in the world? Wow!

Some years ago while working a decent size WA mine site I was flabbergasted to to be told by the boss that he estimated around 30% of the people on site were on prescribed anti- depressants. Declared for urine testing.

OldOzzie
OldOzzie
March 13, 2023 2:27 pm

ANNNNNND . . . IT’S A BAILOUT

The pixels from my previous post had hardly hit the ether before news broke that the Federal government is going to bail out all Silicon Valley Bank depositors in total, which means Harry and Meghan (apparently large depositors) and all the Silicon Valley start-up companies who had their money in SVB will get it all back. So the billionaire venture capitalists on Sand Hill Road won’t have to re-capitalize their next moon shots themselves. How nice for them. Now get set for the whiplash of Elizabeth Warren and Donald Trump saying more or less the same thing—and they’ll both be right up to a point.

Some observations and questions:

• What is the legal basis for the Federal Reserve, FDIC, and the Treasury to bust the $250,000 lid on deposit insurance? I guess that statutory ceiling was merely optional? A mere suggestion of Congress? Sounds like another “major questions doctrine” test for the Supreme Court—if someone has standing. Could be like the student loan case.

• The statement says:

“No losses associated with the resolution of Silicon Valley Bank will be borne by the taxpayer. . . Any losses to the Deposit Insurance Fund to support uninsured depositors will be recovered by a special assessment on banks, as required by law.”

This is a pure fiction, akin to the “employer’s half” of your Social Security tax, which any decent labor economist will tell you also comes wholly out of your paycheck. The Deposit Insurance Fund is simply an indirect tax on all bank customers.

When the savings and loan crisis engulfed the industry in the late 1980s, Congress had to capitalize the Resolution Trust Corporation at the cost to taxpayers of something like $200 billion—real money at the time—because the government “insurance” fund wasn’t adequate to meet the losses even within the statutory account size limit. If the SVB failure sets up a similar crisis because too many banks have also mismanaged their interest rate risk, we’ll see a sequel, paid for by you and me. (The FDIC shut down Signature Bank in New York Sunday. Hmmm.) Did people really think we could have a decade of near-zero interest rates and not have some banking problems?

• This raises the final question (for now): It is said that our political class is always reacting to the last crisis. How likely is it that Yellen, Biden, et. al., are spooked by a rerun of 2008, and want to get ahead of a systemic collapse of the banking system? Despite all the reassuring “news” of the last decade that our major banks have all passed the periodic “stress test” of the Federal Reserve, fractional reserve banking does remain essentially a confidence game, even with heightened capital requirements. It’s going to be an interesting day on Wall Street tomorrow. (If there’s a crash, I’ll likely be buying. But I always run into burning buildings. . .)

Or maybe there is more to the story. I’ll bet bankers and regulators in Washington haven’t slept much this weekend. What do they know for certain that they aren’t telling us?

A clue, perhaps, from the fed statement:

Finally, the Federal Reserve Board on Sunday announced it will make available additional funding to eligible depository institutions to help assure banks have the ability to meet the needs of all their depositors.

That’s pretty close to what Alan Greenspan said the day after the great crash of October 19, 1987.

Sancho Panzer
Sancho Panzer
March 13, 2023 2:30 pm

Makkasays:

March 13, 2023 at 2:27 pm

We’re highest anti-depressant users in the world? Wow!

Some years ago while working a decent size WA mine site I was flabbergasted to to be told by the boss that he estimated around 30% …

I’d be sprinkling them on my Weeties too if I had to work in WA.

Shy Ted
Shy Ted
March 13, 2023 2:30 pm

Calling Tan Grant “honky” would be closer to the truth.

OldOzzie
OldOzzie
March 13, 2023 2:31 pm

OUTRAGEOUS: Silicon Valley Bank Provided Massive Amounts of Capital to Chinese Tech Ventures – Now Biden FDIC and Federal Reverse Are Bailing It Out – Clearly Biden Is Working for China

The Silicon Valley Bank has served as a huge bridge to China and Chinese tech engineers. Is this why the corrupt Biden Gang is bailing it out?

Just this morning the US House reported that they have the goods on the Bidens’ corrupt and criminal actions with China. The Bidens are in bed with the corrupt China regime and the House has the evidence. The Bidens were receiving money from the CCP.

Related to this is the failing Bank, the Silicon Valley Bank which provides massive amounts of funding to the China venture capital sector. The South China Morning Post noted the bridge between the bank and China.

The collapse of Silicon Valley Bank (SVB) has created a sense of panic within China’s tech start-up and venture capital (VC) sector, as the lender served as a bridge between US capital and Chinese tech entrepreneurs.

As of Sunday afternoon, topics related to the collapse of the bank, including “SVB bankruptcy has spread to multiple countries” and “SVB bankruptcy affects Chinese entrepreneurs”, were trending on Chinese microblogging site Weibo, with posts receiving hundreds of millions of views.

“Is the 2008 Financial Crisis happening again?” said a Weibo user with the handle MaxC.

China is the second largest venture capital market and SVB was right in the middle of it according to Tech Crunch.

China, the world’s second-largest venture capital market. Across social media platforms, investors and startups are rushing to share news articles on the fiasco and thoughts on how to prevent such a catastrophic moment. For some companies, however, the impact is tangible.

When China was still new to venture capital in the late 1990s, SVB was among the first financial institutions to start serving the country’s startups, while traditional, risk-averse banks avoided them.

Over time, the bank has become a popular option for China-based startups fundraising in USD as well as some China-focused USD venture capital firms.

Late today it was reported that the Biden regime is going to have its FDIC and Federal Reserve make good on all deposits in the bank – a significant portion of which are China-owned accounts.

Roger
Roger
March 13, 2023 2:31 pm

In Pence’s case born again means become a heretic.

Erm…not a Catholic, but I think Rome may require more than a couple of lines in a wiki bio before declaring someone a heretic.

Zulu Kilo Two Alpha
Zulu Kilo Two Alpha
March 13, 2023 2:32 pm

Tony Abbott has shrugged off the decision to close 150 Western Australian remote Indigenous communities, saying the taxpayer should not have to fund people’s “lifestyle choices”.

The fair skinned, blonde haired, blue eyed “Warriors of the Aboriginal Resistance” closed down the CBD of Melbourne, in protest at that statement.

Sancho Panzer
Sancho Panzer
March 13, 2023 2:35 pm

It’s going to be an interesting day on Wall Street tomorrow. (If there’s a crash, I’ll likely be buying. But I always run into burning buildings. . .)

DJIA futures are slightly in the green at the moment.
No sign of impending Armageddon.

OldOzzie
OldOzzie
March 13, 2023 2:37 pm

OldOzzie says:
March 13, 2023 at 2:27 pm
ANNNNNND . . . IT’S A BAILOUT

From the Comments

– I can’t decide if the SVB is too big to fail or if the bank’s depositor’s are simply too important to the Democrat Party to suffer the loss?

– The latter – too many donors being impoverished would be bad for democrats

– Noted from another site: East Palestine took 3 weeks to get attention from the govt. SVB got weekend overtime from Biden’s administration..

– They have to otherwise the entire community banking system would collapse this week. The only banks left would basically be the big four banks as recognized as to big to fail. We are at the beginning of a meltdown from the rapid interest rate hikes and the inverted yield curve killing banks. The banks have over 650 billion in unrecognized losses on their books in mortgages and bonds according to Fed testimony the other week.

– Of course they will make the big Dem donors aka bank customers whole. Biden & Co have that magic money tree, don’tcha know!

Makka
Makka
March 13, 2023 2:38 pm

DJIA futures are slightly in the green at the moment

S&P solidly up. Fed bail out is hardly bearish.

Sancho Panzer
Sancho Panzer
March 13, 2023 2:38 pm

Of course, Silicon Valley Bank is largely owned by associates of the R@thschilds.
Under innocent sounding pseudonyms.

Sancho Panzer
Sancho Panzer
March 13, 2023 2:41 pm

Or maybe SVB is just owned by other people and I have a vivid imagination.

OldOzzie
OldOzzie
March 13, 2023 2:44 pm

Could Fauci Be Charged With Negligent Homicide For COVID Crimes?

By Ben Bartee – March 09, 2023

Josef Mengele — the Nazi “Angel of Death” — was hounded to the ends of the Earth by the US and other Western governments in the aftermath of WWII for his sadistic medical experimentation on Jews in his custody during the war.

That’s how America used to treat psychopathic war criminals.

Now, America pays them the highest salary in the whole government, fellates them on television, and lavishes them with $100K per speech in retirement.

We are speaking, of course, of the one and only COVID Warlord Anthony Fauci.

The man was actively engaged in the engineering of a deadly bat coronavirus to make it even deadlier — a process called gain-of-function — in the Wuhan Institute of Virology immediately prior to the pandemic. He used a “nonprofit” called EcoHealth Alliance to pull it off, as detailed via The Intercept.

Don’t take my word for it, or The Intercept’s; take the NIH’s, which quietly admitted that EcoHealth Alliance had, in fact, received federal funds to conduct the research in violation of the Terms and Conditions of the grant.

Drastic Research reports that Fauci’s confidant at EcoHealth, Peter Daszak, even courted the government research entity DARPA to conduct the very research in question at the Wuhan Institute of Virology.

All roads lead back to Fauci and a small band of co-conspirators.

The official COVID death toll, if one were so inclined to trust the corporate media and government, stands at 1.13 million.

Those numbers are very likely inflated, so it would be entertaining to put Fauci in a position to downplay the death toll after years of exaggerating it for political expediency.

But, at the very least, conservatively, COVID — the virus Fauci needlessly unleashed on the world — killed hundreds of thousands of Americans.

Killing people without justification is illegal in the United States, as it is in most civilized nations. It’s even illegal when it’s unintentional and arises due to negligence.

Criminal defense attorney Steven Rodriquez explains:

To summarize the legal logic:

. Fauci funded illicit gain-of-function research at a sketchy Chinese lab working on bat coronaviruses
. A novel bat coronavirus escaped from said lab in 2019
. 1.13 million Americans died from infections of said virus
. This is open-and-shut for a competent prosecutor and a jury willing to examine the evidence.

First-degree murder charges for Fauci should also be on the table, but that’s a much harder legal bar to clear, as it requires proof of intention and planning. We have the planning element, as described above, but establishing intention to kill is more difficult.

At the very least, in the meantime while his prosecution is prepared, Fauci could and should be brought up on perjury charges since he lied under oath before Congress when he denied that he funded gain-of-function research in the Wuhan Institute of Virology.

Pogria
Pogria
March 13, 2023 2:45 pm

KD,
that was a great translation you wrote regarding the ceiling fan strike. Many up ticks.
By the way, did you lose a boot on your way back home the other week?

Steve trickler
Steve trickler
March 13, 2023 2:46 pm

The senile demented prick in the WH could probably not wipe his bum properly. Anyone thinking he is in control of anything, is deluded.

Great series so far.

**********

Peter Santenello:

Far from Phoenix in the south of Arizona is beautiful Cochise County. Here the mountains tie together two countries and the most lawless border area in the United States. Here’s the place of high-speed chases and 13-year-olds making up to $3000 per migrant as they drive them up to Phoenix. A place of cat and mouse where the cartels are in control. Join me as we venture to another part of the US border to get a better understanding of what’s currently happening at the ground level with the local Sheriff.

https://www.youtube.com/watch?v=YdJN1dgBJcY

rosie
rosie
March 13, 2023 2:47 pm

I wasn’t suggesting pence be burnt at the stake.

Sancho Panzer
Sancho Panzer
March 13, 2023 2:48 pm

I wonder what would have happened if SVB had been a mid-west regional bank dealing with farmers and miners, with MAGA board members.

Vicki
Vicki
March 13, 2023 2:49 pm

Cats interested in those angry enough to devote a part of their lives to getting data out in public about the terrible injuries suffered by many as a result of Covid vaccination might like to watch an interview of Craig Kelly with my friend Dr.Phillip Altman. Phil is retired now – but for a greater part of his career operated a company which did RCTs (Randomised Controlled Trials) for approval of new drugs for the TGA. He is outraged at the abandonment of normal approval protocol for the national vaccination drive.

https://twitter.com/CKellyUAP/status/1634149502046162945?s=20&utm_source=substack&utm_medium=email

He is currently standing as an Independent for the NSW seat of Manly. We have done our best to dissuade him from entering the political fray, but he believes it will give him a wider audience in attempting to get the Covid inoculations immediately discontinued. He is a great guy and really doesn’t know the extent of the filth he will encounter in the grubby political arena.

If the above link does not work, you can view his sub stack:

https://phillipaltman.substack.com

Sancho Panzer
Sancho Panzer
March 13, 2023 2:49 pm

Good afternoon Tickler.
Have you toughened up and got off the pain-killer meds yet?

Roger
Roger
March 13, 2023 2:57 pm

I wasn’t suggesting pence be burnt at the stake.

Precisely because the stakes (ahem) were so high in the past, Rome developed a sophisticated approach to defining heresy, determining who was culpable for it and punishing it. As I understand that, simply leaving the Roman church for another church body is not, in and of itself, heresy.

Makka
Makka
March 13, 2023 3:00 pm

Is there anyone who doubts they won’t?

Jeffrey Gundlach
@TruthGundlach
Dick Bove did an interview on CNBC Asia today. He pointed out that the “net worth” of the US Federal Reserve is -1.1 Trillion dollars due to essentially the same funding/investing mismatch that took down SVB. So the only way for the Fed to backstop the system is to print money.

Johnny Rotten
March 13, 2023 3:05 pm

The Unfolding Banking Crisis

COMMENT #1: Marty; Thank you so much for your warning at the WEC that we would now face a banking crisis with rising rates into 2024. You are always so far ahead of the pack. Live forever – please!

KQ

REPLY #1: Thank you, but that would sentence me to perpetual taxation indefinitely. No thanks.

COMMENT #2: Hello. I read your FREE blog because I am poor.
Would you please stop posting PRIVATE stuff and post stuff that us peons can read?

Thank you kindly.

Ms. Terri

REPLY #2: My concern is since we forecast this last year, they will only blame me. That blog is only $15 a month, but it is blocked by Google so it is more free speech if you get my drift. I simple MUST be guarded in what I say publicly because they simply always view me as having too much influence.

I will offer this recommendation (publicly) for my ear is turning red from all the phone calls. As for the Biden Administration, if they DO NOT heed my warning, our forecast will be devastating. The Biden Administration MUST stand behind ALL deposits – not the $250,000 FDIC limit. If they do not, small businesses will pull excess cash from banks, switch to 30-day T-Bills at a brokerage house, and say screw the FDIC and the Biden Administration’s anti-rich (small business which employs 70% of the workforce).

The compromise here is that we need a shotgun wedding where a larger bank takes over SVB at the raw price of the deposits. The shareholder loses, but ALL depositors are covered. Any value of the shares should be attributed to tangible assets only, not goodwill. You will penalize your “hated rich” and even the small businesses will be saved. If not, you will wipe out numerous businesses that cannot even pay employees. That will set off a contagion as you try to uphold your hatred of the “rich” while you pour money into the most corrupt government in the world at the real expense of taxpayers.

Of course, SVB can simply declare they “identify” as a Ukrainian Bank and then everything would be covered right down to the pensions of the CEO.”

https://www.armstrongeconomics.com/world-news/banking-crisis/the-unfolding-bank-crisis/?utm_source=Newsletter&utm_medium=Email&utm_campaign=RSS

Johnny Rotten
March 13, 2023 3:07 pm

Time for a bad joke………………….lol

A dyslexic satanist sold his soul to santa….

Johnny Rotten
March 13, 2023 3:09 pm

The world is getting to be such a dangerous place, a man is lucky to get out of it alive.

– W. C. Fields

Roger
Roger
March 13, 2023 3:09 pm

Signature Bank (NY) shut down by the regulator this morning, Silvergate Capital (CA) in liquidation as of last Friday.

OldOzzie
OldOzzie
March 13, 2023 3:15 pm

What’s a woman, after all? Transgender movement getting madder by the minute

International Women’s Day, replete with ceremonies and demonstrations, has come and gone.

In the United States, demonstrators could have celebrated the unprecedented freedom, prosperity and achievements attained by the fair sex here.

Instead, they mostly whined that because of the Dobbs ruling, it’s getting less convenient to kill unborn babies. They also made shrill demands for all things LGBTQ and especially the transgender movement — the folks working to obliterate womanhood itself.

More meaningful demonstrations were held in non-Western countries such as Pakistan, where women have few civil rights and where “honor killings” of girls happen. Those protests took courage.

Here in the United States, much of the feminist movement has taken a bizarre turn toward outright gender denial — with support at the highest levels.

First lady Jill Biden and Secretary of State Antony Blinken gave out “International Women of Courage” awards, one of which went to Alba Rueda, an LGBTQ activist from Argentina who is a biological man.

The reaction was swift. “Nothing screams ‘International Women of Courage Award’ like a dude,” wrote RedState writer Buzz Patterson.

“It’s International Women’s Day — a good time to remember that Democrats can’t even tell you what a woman is,” Arkansas Republican Gov. Sarah Huckabee Sanders said.

The Babylon Bee satirized it by running a fake story about President Biden bestowing the “Black American of Courage” award to White actor Robert Downey Jr. for playing a Black man in the 2008 movie “Tropic Thunder.”

“‘If you’re not as black as Robert Downey, Jr., then you ain’t black,’ said the president while standing next to Mr. Jr., who had insisted the award go to someone else while glancing nervously at all of the black people in the room,” the Bee wrote.

All jokes aside, it’s becoming harder to satirize the madness. This is an administration that gave accused luggage thief and nonbinary, dress-wearing activist Sam Brinton a high-powered job in federal nuclear waste management.

The Biden administration also elevated Rachel (nee Richard) Levine, a lad/lass with flowing golden tresses, to four-star admiral in the Public Health Service and assistant secretary of health and human services.

Most disturbingly, they have encouraged schools to steer young children into homosexuality and transgenderism and ordered the Pentagon to promote sexual dysfunction regardless of what it does to our military’s morale, readiness and cohesion.

Communist China, which is gearing up for war with the United States in the near future, can’t help but take heart from America’s ruling elites’ perverse priorities. Xi Jinping may be thinking, “We’d better do something soon before they recover their sanity.”

In late February, Minnesota state Judge Patrick C. Diamond ruled that a man who identifies as a woman can compete in women’s powerlifting. Never mind that men, on average, have at least 20% more upper body strength.

Judge Diamond, who was appointed to the bench by Democratic Gov. Mark Dayton in 2012, oxymoronically ordered USA Powerlifting to “cease and desist from all unfair discriminatory practices,” such as requiring men to compete with men and women to compete with women.

Gender madness is rife in the entertainment world, where the Academy of Motion Picture Arts and Sciences is being pressured to abolish best actor and best actress Oscars and just honor “performers.”

This is the “nonbinary” road that the Grammys and the MTV Movie & TV Awards have already taken.

From the Comments

– I firmly believe that Resident Joe Bidet is actively and knowingly trying to break every single facet of what makes America great.

Johnny Rotten
March 13, 2023 3:15 pm

The Banking Crisis is Global – Not Confined to the USA

“The Biden Administration is responding to the panic phone calls that their Marxist philosophy will bring down the entire financial system. My ear is red as can be. I have had enough of the phone calls today to last the balance of the month. Trying just to do the right thing! Three banks have effectively gone down in the week of March 6th, which our computer was targeting. There have been Silicon Valley Bank, Signature Bank, and Silvergate Bank.

The Regulators perhaps saw the handwriting on the wall. This NO BAILOUT claiming that no taxpayer money will be used for a bailout of their hated rich, how about just using the taxpayer’s money you are throwing down the train in Ukraine? Depositors in Signature and SVB they are now saying would be made whole. If they do not cover ALL deposits, the monumental banking failure will be catastrophic.

Our forecast for a Banking Crisis is by NO MEANS confined to the United States. It will be far worse in Europe. We can see our computer not only targeted 2023 for a key turning point with a Directional Change but a Panic Cycle next year in bank stocks, but interest rates will be rising higher as also the risk of banks and governments escalated especially when they insist on waging war against Russia.

The yield curve is critical and we must understand that this insane war against Russia, even economically, will be a major financial disaster not much different from Vietnam which brought down Bretton Woods and forced Nixon to close the gold window on August 15th, 1971. It was that unrestrained spending directed by the Neocons. Then too, it was all about Russia they assumed was behind Vietnam.

Once more, the reckless spending on war promoted by the Neocons is undermining the entire economy. They have lost every war they have promoted – Vietnam, Afghanistan, Iraq, proposed Syria, Libya regime change, and now Ukraine. These people are never held accountable for all the devastation and the lives lost.

War is the primary driver of inflation and the central banks will not even address it for they do not want to “criticize” the Neocons. They might wake up with their dog’s head in the bed as in the Godfather. The central banks will NOT be able to contain this inflation or ever reach their 2% target regardless if the economy turns down just as what happened during Vietnam.

This is a warning to all small banks. Understand the REAL trend or you will NOT survive. Major capital is fleeing the long-term and rising into the short-term because they see rates are rising and any long-term bond investment during a period of war is going to be a major losing trade. Do not get trapped by the yield curve and understand that this trend is in play into 2025.

This Banking Crisis has been caused by Governments who artificially kept interest rates too low since 2008 and in the process, this banking crisis is unfolding because too many banks are UNSOPHISTICATED in forecasting and have been listening to the talking heads on TV and the desperate hope that inflation will decline while ignoring Ukraine entirely. Get that wrong – and you will NOT survive.”

https://www.armstrongeconomics.com/world-news/banking-crisis/the-banking-crisis-is-global-not-confined-to-the-usa/?utm_source=Newsletter&utm_medium=Email&utm_campaign=RSS

Steve trickler
Steve trickler
March 13, 2023 3:25 pm

Sancho Panzersays:
March 13, 2023 at 2:49 pm
Good afternoon Tickler.
Have you toughened up and got off the pain-killer meds yet?

Still listening to the MSM, d*ckhead?

Give us a Sky News update.

Salvatore, Understaffed & Overworked Martyr to Govt Covid Stupidity

Some years ago while working a decent size WA mine site I was flabbergasted to to be told by the boss that he estimated around 30% of the people on site were on prescribed anti- depressants. Declared for urine testing.

Some of these may not be remotely depressed or in mental blues, but simply may (may) have a prescription for valium or similar, to aid sleep coz of ‘disrupted sleep patterns caused by FIFO’.

OldOzzie
OldOzzie
March 13, 2023 3:27 pm

It’s the Amish 13% again – as Obama might have said – “You can take the Boy out of the Jungle, but you can’t take the Jungle out of the Boy”

Massive fight among 200 students, parents at Louisiana high school ends in 10 arrests

The fight allegedly started with a small group of students but escalated into a larger clash involving parents and students fighting police as well.

One witness told WBRZ the brawl erupted when a girl who wasn’t a student at the school and her mom showed up to fight another girl — and that it escalated from there.

Students were allegedly locked inside the gym during the fight. One responding police officer sustained injuries including a broken hip and head lacerations.

The school enrolls students who have been previously suspended or expelled from other schools in the district.

From the Comments

– This high school should change their name to the school of future criminals. Black Rage at its finest. Dems and the NAACP should be looking into addressing Black Rage. Not the Officers trying to stop it.

– The police should have politely asked them to stop, continuously. Then step aside to allow the school to clean up the scene once the parents and students fully resolved their issues with each other.

– Then the city and the police department would have been sued – dereliction of duty. Damned if you do and damned if you don’t.

– Yes, the police should have taken a looong coffee break before responding to this black violence.

– So the school is for previously expelled or suspended students from other districts?

So its a jail? Basically or pre jail. Surround the “school” let them fight it out, arrest the winners.

– Absolutely hilarious that the NAACP is reviewing the police response. Perhaps a review of the parents and students would be more appropriate. How about a statement condemning their behavior? Looks like the NAACP is, in fact, condoning and excusing violent behavior in their community. That would …

OldOzzie
OldOzzie
March 13, 2023 3:29 pm

Once more, the reckless spending on war promoted by the Neocons is undermining the entire economy. They have lost every war they have promoted – Vietnam, Afghanistan, Iraq, proposed Syria, Libya regime change, and now Ukraine. These people are never held accountable for all the devastation and the lives lost.

Perfect Summary!

rickw
rickw
March 13, 2023 3:29 pm

The question is, like all regulation, where the balance lies between public safety and expensive and futile bureaucracy.

There was an aircraft being designed and built in Gippsland. They had some goon from CASA assigned to the project to ride them like a broken bicycle each and every day.

Q: What’s the first thing that happens with a successful Australian aircraft design or Aircraft manufacturer?

A: Move to the USA.

Johnny Rotten
March 13, 2023 3:33 pm

One Million Years BC is now on GEM, Ch 92. You can see some stone age people called Head Case a Suitable Case for Treatment, and. Montypox Virus. or, you can be like me and just lust after Raquel Welch………………………

H B Bear
H B Bear
March 13, 2023 3:36 pm

Perhaps wear pants?
And stop being obnoxious about Queensland.

To be fair, I also include Mainland Tasmania, Sydney and Victoriastan. I try not to discriminate. Queenslanders seem particularly sensitive though.

Sancho Panzer
Sancho Panzer
March 13, 2023 3:36 pm

Steve tricklersays:

March 13, 2023 at 3:25 pm

Sancho Panzersays:
March 13, 2023 at 2:49 pm
Good afternoon Tickler.
Have you toughened up and got off the pain-killer meds yet?

Still listening to the MSM, d*ckhead?

Give us a Sky News update.

I’m listening to Jo McManus on 6PR at the moment.
I will give you a Sky News update shortly.
Rest up, brave soldier.

Dr Faustus
Dr Faustus
March 13, 2023 3:41 pm

The Academy Award judges obviously read the Cat and pick up on the popular sentiment amongst the movers and shakers who Really Count.

Jamie Lee Curtis Wins Best Supporting Actress at the Oscars 2023

H B Bear
H B Bear
March 13, 2023 3:44 pm

I’d be sprinkling them [antidepressants] on my Weeties too if I had to work in WA.

Except payday.

Steve trickler
Steve trickler
March 13, 2023 3:48 pm

Sancho Panzersays:
March 13, 2023 at 3:36 pm
Steve tricklersays:

March 13, 2023 at 3:25 pm

Sancho Panzersays:
March 13, 2023 at 2:49 pm
Good afternoon Tickler.
Have you toughened up and got off the pain-killer meds yet?

Still listening to the MSM, d*ckhead?

Give us a Sky News update.

I’m listening to Jo McManus on 6PR at the moment.
I will give you a Sky News update shortly.
Rest up, brave soldier.

That commentator thinks the Huffington Post is legit….and I think you are full of sh*t to even tune in. You are pulling your pud.

Fun and games.

Sancho Panzer
Sancho Panzer
March 13, 2023 3:50 pm

Must be tumbleweeds over at The Lollipop Blog today to have refugees turning up.

Chris
Chris
March 13, 2023 3:56 pm

FFS. My sister just messaged to ask how to buy gold.

Salvatore, Understaffed & Overworked Martyr to Govt Covid Stupidity

There was an aircraft being designed and built in Gippsland. They had some goon from CASA assigned to the project to ride them like a broken bicycle each and every day.

Many small/medium businesses in Australia know exactly how they felt.

This really is a nation of Dobbers, and a nation of Inspectors.

This is not intended to detract from the tribulations of Gippsland aviation.

Steve trickler
Steve trickler
March 13, 2023 3:59 pm

Sancho Panzersays:
March 13, 2023 at 3:50 pm
Must be tumbleweeds over at The Lollipop Blog today to have refugees turning up.

The amount of sh*t you post can clog up a sewer.

Knuckle Dragger
Knuckle Dragger
March 13, 2023 4:02 pm

Straya putting up the shutters.

Weak pricks.

Sancho Panzer
Sancho Panzer
March 13, 2023 4:06 pm

Easy, Tickler.
Don’t pop your sutures.

Sancho Panzer
Sancho Panzer
March 13, 2023 4:07 pm

The amount of sh*t you post can clog up a sewer.

So, so hurtful.

Mother Lode
Mother Lode
March 13, 2023 4:13 pm

We’re highest anti-depressant users in the world? Wow!

An attestation to the quality of the anti-depressants, surely.

Steve trickler
Steve trickler
March 13, 2023 4:19 pm

Sancho Panzersays:
March 13, 2023 at 4:06 pm
Easy, Tickler.
Don’t pop your sutures.

They used staples.

Johnny Rotten
March 13, 2023 4:20 pm

C-Level Executives Sold Shares Weeks Before SVB Failed

“A bank failure of this proportion has not been seen since 2008 when Washington Mutual failed. The majority of deposits in Silicon Valley Bank (SVB) are uninsured, meaning the FDIC’s $250,000 protection does not apply. Uninsured depositors will be provided receivership certificates and should receive an advanced dividend this week. The FDIC must sell off the remaining assets of SVC to determine how much it can provide to those uninsured depositors. The FDIC is encouraging borrowers to continue paying their existing loans. The bank was said to host $209 billion in assets and $175.4 billion in deposits as of December 2022. Washington Mutual held around $307 billion in assets when it went down.

Tons of people and businesses will be completely screwed over. Who could have seen it coming? Silicon Valley Bank CEO, CFO, and CMO sold off millions in stock over the past two weeks. President and CEO Greg Becker sold 12,451 shares on February 27 for $3.6 million at $287.42 per share. Later that day, he purchased options for the same amount of shares at $105.18 a piece. He did the same thing in December 2021, as this is not an uncommon albeit unethical practice. Banks commonly trade against their own clients. Becker sold about $3.57 million worth of SVB stock over the past two weeks and is now making TV appearances saying he did not see this coming.

There were signs of trouble, but the talking heads said otherwise. Forbes even listed SVB Financial Group as #20 on its list of America’s Best Banks in an article published on February 14, 2023. Talking/screaming head Jim Cramer came out last month to say that SVB Financial would become one of the top performers on the S&P. This is why you cannot listen to information based on biased opinions. I hesitate to call this negligence technical analysis.

Companies are now at a complete loss, many cannot make payroll, and this situation will only worsen once the uninsured depositors realize their IOUs are worthless.”

https://www.armstrongeconomics.com/world-news/corruption/c-level-executives-sold-shares-weeks-before-svb-failed/?utm_source=Newsletter&utm_medium=Email&utm_campaign=RSS

Boambee John
Boambee John
March 13, 2023 4:27 pm

Sancho Panzersays:
March 13, 2023 at 2:48 pm
I wonder what would have happened if SVB had been a mid-west regional bank dealing with farmers and miners, with MAGA board members.

I doubt that working out the answer would overly tax your intellect.

GreyRanga
GreyRanga
March 13, 2023 4:28 pm

I have had antidepressants for nerve damage in my neck. One made me fatter and the other one made me depressed. When I went to the pain specialist she tried the ‘you’re depressed schtick’. No thanks don’t bother. Got some microdose of something to take the edge off, but didn’t really work all that well.

DrBeauGan
DrBeauGan
March 13, 2023 4:33 pm

I have had antidepressants for nerve damage in my neck. One made me fatter and the other one made me depressed.

A short walk every morning works much better.

Mother Lode
Mother Lode
March 13, 2023 4:34 pm

Apparently Elizabeth Farrelly is running as a Teal in the upcoming NSW election.

I am going to enjoy not voting for her.

Just another nonce who found it congenial to slip into the elite leftists kiddies pool where they all swim around each other patting each other on the back and hand each other awards, as well as bloated jobs in our third-rate academia or the APS with all the panels and committees and quangos in its gift.

All funded to repletion like the blind worms that gorge in the dark of a hosts intestines.

Honestly for all the fuss and largesse showered upon them have our academics, writers, and intellectuals produced anything memorable? Anything that has made a mark away from our shores in places it is not funded or maintained at public expense? They would certainly tell us if they did.

Sancho Panzer
Sancho Panzer
March 13, 2023 4:43 pm

BJ at 4:27.
There was a little bit of rhetorical in the question.

OldOzzie
OldOzzie
March 13, 2023 4:45 pm
Cassie of Sydney
March 13, 2023 4:49 pm

“Sancho Panzersays:
March 13, 2023 at 3:50 pm
Must be tumbleweeds over at The Lollipop Blog today to have refugees turning up.”

I still have a look at Adam’s blog occasionally. I looked this morning and the place is hurtling down the rabbit hole of R*thschild conspiracies. Such rabbit holes are never healthy.

Bruce in WA
March 13, 2023 4:50 pm

Some years ago while working a decent size WA mine site I was flabbergasted to to be told by the boss that he estimated around 30% of the people on site were on prescribed anti- depressants. Declared for urine testing.

And a fair number of those would be firearms owners who will in all probability fail the proposed psychiatric testing that is about to become a prerequisite for obtaining or maintaining a WA firearms licence.

Robert Sewell
March 13, 2023 4:53 pm

Old Ozzie:

At the very least, in the meantime while his prosecution is prepared, Fauci could and should be brought up on perjury charges since he lied under oath before Congress when he denied that he funded gain-of-function research in the Wuhan Institute of Virology.

He’ll walk.
Why?
Because he’s a crook and the system is now protecting him while refusing to protect the public.
The system is broken.
It has no standing.

Chris
Chris
March 13, 2023 4:55 pm

I am thinking how I can arrange the maximum ‘bad luck’ for WA Labor members.

Chris
Chris
March 13, 2023 4:56 pm

The problem is that the wrong lizards might get in.

Chris
Chris
March 13, 2023 4:58 pm

Seriously there is no way I would respond honestly to a shrink now.

H B Bear
H B Bear
March 13, 2023 5:04 pm

If they start psychological testing in WA I better start looking for new digs.

Chris
Chris
March 13, 2023 5:04 pm

Fine thank you!
No really, everything is fine! I only went bald over that little dose of chemo, but I am looking forward to a nice picnic with the family on Sunday. The forecast is beautiful, and by substituting weevils for prosciutto we will be able to afford a lovely spread.
Absolutely fine!

Boambee John
Boambee John
March 13, 2023 5:08 pm

Sancho Panzersays:
March 13, 2023 at 4:43 pm
BJ at 4:27.
There was a little bit of rhetorical in the question.

I realise that. There was a lot of rhetorical in my comment.

Chris
Chris
March 13, 2023 5:11 pm

And a fair number of those would be firearms owners who will in all probability fail the proposed psychiatric testing that is about to become a prerequisite for obtaining or maintaining a WA firearms licence.

Similarly my possession of waterpipe, roofing lead, a 4×2 and tools make me a gun manufacturer, as soon as any plod take a dislike to my taste in ex-wives.

Sancho Panzer
Sancho Panzer
March 13, 2023 5:12 pm

I still have a look at Adam’s blog occasionally. I looked this morning and the place is hurtling down the rabbit hole of R*thschild conspiracies. Such rabbit holes are never healthy.

Mmmyes.
Barely disguised anti-Semitism.
I used to wonder why Bird’s rants about “International Bankers” were “accidentally missed” so often in the early days.
Maybe the mystery is solved.

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