Moon of Alabama Brecht quote
October 06, 2019

The MoA Week In Review - OT 2019-58

Last week's posts at Moon of Alabama:

Elite UK military unit secretly trained by leftist regime-change advocate Gilbert Achcar and other academics - Ben Norton, Grayzone

Impeachment, Brought to You by the CIA - Rob Urie, Counterpunch

Giovanni Cavalcanti @giovannicavett - 23:55 UTC · Oct 4, 2019
Joe Biden loses his cool when confronted by a reporter asking whether there was ‘conflict of interest’ regarding his son's Ukraine/China business scandal. video

The Hunter Biden story is a troubling tale of privilege - Washington Post:

Less privileged Americans can’t be faulted if they wonder why their addicted loved ones are on the streets or in the morgue while the vice president’s son is blessed with diamonds and sinecures. Multitudes locked up for years under Joe Biden’s crime bill might ask why the author’s son traveled the world scot-free. And sober working people making $50,000 a year may be skeptical of a system in which a vice president’s addicted son reportedly collected that sum every month.

America now solves problems with troops, not diplomats - The Conservation


Lost Weapons @LostWeapons - 9:53 UTC · Oct 6, 2019
multiple videos of protesters being shot by snipers

Other issues:

Former Israeli Intel Official Claims Jeffrey Epstein, Ghislaine Maxwell Worked for Israeli Intel - Whitney Webb, UNZ
Jeffrey Epstein Raked In $200 Million After Legal and Financial Crises - New York Times

Use as open thread ...

Posted by b on October 6, 2019 at 12:55 UTC | Permalink

« previous page

MadMax2 @100--

Thanks again for your reply! My wife's a medical billing coder and supervisor at our county's Health & Human Services Department and we were discussing the need for additional coders should Medicare For All become reality wherein she made the following point:

"What goes along with MFA and really must happen to make it a success is free college so more can become medical professionals, not just to satisfy the increased demand for service providers, but so they aren't saddled with the massive debt that in turn causes the need for big medical fees so those tuition debts can be repaid."

Yes, she's an astute woman; and a lucky man am I.

Posted by: karlof1 | Oct 8 2019 23:49 utc | 101

@103 karlof1
Fair play to her - sounds like a good woman alright. Yeah, I always thought higher education was meant to free the mind and it surrounds... not enslave it.

Posted by: MadMax2 | Oct 8 2019 23:55 utc | 102

ZeroHedge says the whistleblower had a professional relationship with one of the Dem primary candidates. We know he worked in the White House at some point. CIA officer attached as an adviser to Vice President Biden's office? Should be possible to identify this guy.

Posted by: lysias | Oct 9 2019 0:14 utc | 103

Karlof1 # 99

After the last crisis I was encouraged by the RSA (Royal Society of Arts -London)'s attempt to transform a number of fairly complex issues into 10 min animations to communicate complexity to a wider audience. One stood out for me - and 10 years ago highlighted the sovereign debt crisis.

(there are a few of them, one covering empathy/mirror neurons ?education? also a tick)

watching linked again now - is depressing for highlighting how little focus on the issues that created 2008 collapse have been looked at since - as we approach the next (more severe and protracted) correction.

I've zero belief in the current economic system, as I've no belief that any authority we have really seeks to address the ecological catastrophe, at risk of profit.(one for another day)

One flaw I see so far in the Bible Debt Cancellation text is the author lauds praise on Mediterranean Monarchies. I see the rise of Monarchies as the start of the problem, these were essentially marauders who needed a safe place to store loot, so we get to age of castles, and the over romanticised/mythic hero "knights" who perhaps closer to reality are basically debt enforcers/ indentured mercenaries instituting a slave camp mentality with the Guantanamo torture chamber in the castle's basement to back up a "project fear" paradigm on the new taxation class? In Spain (in its smaller fiefdoms) there were consistent run of Monarchs/ Sheikhs which produced over time a wealthy landowning aristocratic class and destitute itinerant peasant class - akin to pre-revolutionary Russia, and likewise Spain had a powerful rise in socialism which grew (with literacy) from 1880's on to the post 1929 crash which US Govt. helped to crush by financing/supporting Franco and squeeze a few more miles out of the model. (curiously the Spanish did better under the Sheikhs - who instituted some fair play principles for all citizens.

Still, agreed 'yes' aside of that debt forgiveness is a most worthy cause. The socially blunt Gordon Brown's probably greatest public achievement was to push for the clearing of $50 Bn from underdeveloped nation's debt which I think he unveiled at the UN in 2006. It was perhaps unfortunate timing for him as with a crash around the corner a few probably felt that kind of money would have come in handy closer to home. Though I believe in time he'll be well remembered on a more global scale for putting his finger on a injustice in the world which needed a longer term outlook.

Posted by: dennis | Oct 9 2019 0:33 utc | 104

@ dennis in comment #106 who broke the web page formatting....not being a regular that I recognize I wonder if your abuse of MoA was intentional

Below are the last two paragraphs from one of the Michael Hudson's links that karlof1 provided and which I found well written and appropriate to today
Since 2008, Wall Street investment banks have obtained much more wealth by capital gains (asset-price gains for
real estate, bonds and stocks) and investment fees than from interest. This has led them to press the government
for policies to inflate asset sheets more than provide credit for industry. Europe has followed suit. The upshot is that
banks both in Europe and America have gained control over government policy to become the main suppliers of the
economy’s money and receive public subsidy and favors. Their capture of the government’s financial, regulatory and
policy-making institutions has led to a policy bias favoring creditors over debtors. In terms of monetary policy, creditors
always have advocated downward commodity prices and wages. But since the 1980s they also have favored debt-leveraged
inflation of real estate, stock and bond prices to create “capital” gains via low-interest “soft money” policies.

The European Central Bank’s withdrawal of credit to Greek banks under the Syriza government is reminiscent of Jackson’s
war against banks not favorable to his own political control. And the European Central Bank’s support of the largest banks
and bondholders at the cost of domestic taxpayers has imposed monetary deflation on Eurozone countries, reminiscent of
America’s 19th-century deflation before and after the Civil War.

Posted by: psychohistorian | Oct 9 2019 1:53 utc | 105

Posted by: lysias | Oct 9 2019 0:14 utc | 105

We know he worked in the White House at some point. CIA officer attached as an adviser to Vice President Biden's office? Should be possible to identify this guy.

There is speculation that the Guccifer 2.0 hoax persona was created in Vice President Biden's office during the visit of Ukrainian Prime Minister Volodymyr Groysman on June 15, 2016

White House Meetings on Ukraine Coincide With Time of Russian Fingerprint Fabrications - Adam Carter

So, I wondered who may have visited Biden that day around that time. I thought I'd check out visits to the White House hosted by Biden, wondering whether there'd be any interesting activity anywhere near 1:38pm on June 15th 2016. It turns out that Biden was hosting visits from a number of Ukrainians around that time, on that date. To see how frequent this sort of activity occurred I checked the whole of June. - It seems such visits were not a regular occurance.

(Note: The 'Warren Flood' connection later turned out to be a false lead.)

Posted by: Petri Krohn | Oct 9 2019 2:19 utc | 106

For those who feel tempted to give the pro-empire fanbois and Sinophobes the benefit of the doubt, consider how the West's imperialist mass media would be reporting on the following if it were happening in Hong Kong:

Ecuador: Public Radio Pulled Off Air For Reporting on Anti-Gov’t Protests

Posted by: William Gruff | Oct 9 2019 10:35 utc | 107

The USA finally made its decision on how to act on 5G:

US Opts to Pump Money into Huawei’s European Rival to Hamper Tech Giant’s 5G Development – Report

This confirms the Americans don't have the technology to compete in 5G. They can't compete. So much for Trump's "made in America" dream.

Posted by: vk | Oct 9 2019 13:06 utc | 108

I came across this on Al-Masdar News:

Houthi fighter armed with just a rifle captures Saudi military vehicle

They claim that this is a Saudi vehicle. But it is an LAV-25 (the US spawn of the Swiss Mowag Piranha II) which, however, is not supposed to be in the inventory of the Saudi army. It's difficult to see any markings on this vehicle, but at 2:20 you can see a red crescent on white background. This doesn't strike me as Saudi.

So what does it all mean? Can anyone help figuring out whose forces this vehicle belonged to?

Posted by: Scotch Bingeington | Oct 9 2019 17:20 utc | 109

I discovered another older publication by Hudson from 2014 critiquing the Piketty Report:

"Thomas Piketty has done a great service in collating the data of many countries to quantify the ebb and flow of their distribution of wealth and income. For hundreds of pages and tables, his measurements confirm what most people sense without needing statistical proof. Across the globe the top 1% have increased their share of wealth and income to the steepest extreme since the Gilded Age of the late 19th and early 20th century.

"The Federal Reserve’s 2013 Survey of Consumer Finances shows that economic polarization has accelerated since the 2008 crash. The 0.1% of Americans have pulled even further ahead of the rest of the 1%, who in turn have widened their gains over the remainder of the 10%. At the bottom of the pyramid, the poorest 10% have faired even worse than the next lowest. The economy is operating like a centrifuge separating rich from poor. But neither Piketty nor the Fed makes an attempt to explain the dynamics causing this polarization. They merely measure its broad parameters." [My Emphasis]

The blog where Hudson published his critique, Real World Economics Review, is a candidate for saving to favorites and is linked to at the top of Hudson's essay. At the link you'll find a number of other essays on the same topic that might be worth exploring.

Posted by: karlof1 | Oct 9 2019 17:24 utc | 110

@ Posted by: karlof1 | Oct 9 2019 17:24 utc | 110

Agree with Hudson on Piketty. The only theory that explains scientifically Piketty's data is Marxism -- and it will remain so for eternity, since Marxism is the correct scientific theory of capitalism.


PG&E Cuts Power to 500,000 in California: Live Updates

The reason for the cuts? "A precaution against sparking wildfires".

So, it's not that wildfires disrupted the energy supplies, but that the company responsible already knows it will have its supply disrupted and is already getting its customers accostumed with the reality.

Here's the most recommended comment of the article by the time of this post:

This is an outrage.

For decades, Pacific Gas and Electric Company failed to invest in its aging infrastructure. 30% of their high transmission lines were built between 1900 and 1910 (!) and the other 60% were constructed between 1920 and 1950. According to a July 2019 Wall Street Journal article, "PG&E has known for years that hundreds of miles of high-voltage power lines could fail and spark fires, yet it repeatedly failed to perform the necessary upgrades.”

These PG&E so-called public safety shutoffs are creating incalculable hardship, especially for the elderly. Schools and businesses have had to close while literally tons of unrefrigerated food is rotting away.

While PG&E is legally liable for damage from fires caused by transmission lines, it is not liable for costs incurred by businesses and customers when power is shut off. If PG&E were required to pay for losses occurred during these power shut-offs, they most likely would not be doing them.

How can this (bankrupt) utility's actions be acceptable?

Take whatever you want from this.


With a $450 Million Expansion, MoMA Is Bigger. Is That Better?

Good to know there's plenty of money around in the US.


On Hong Kong.

Many news have been floating around these days about protesters escalating on the violence. They are clearly black blocks, possibly hired by institutions linked to the West. We know this because strategy shifted to activism on Western territory itself about the same time.

This strategy of "reverse vanguard" -- where the group that was supposed to be the vanguard goes on the rearguard, as a "sweeping" force -- is common in unconventional warfare operations, since color revolutions are extremely vulnerable to decapitation operations by the target government. This is another aspect a counter-revolution is the exact opposite of a revolution: its leadership is opportunistic, an elite in the waiting, so they can't sacrifice themselves at the front line.

If I were the HK Police, I would've already used intelligence to identify the leaders and take out the shotguns from the armory. One night and twenty or thirty black block corpses later nobody would be getting out of the streets for the next 40 years. Liberals valorize themselves as individuals above all else, so they won't go to the streets if they think they may die.

Either way, the liberal counter-revolution is already dead in HK. Western MSM has already stopped covering and giving numbers. The SCMP gives generous "hundreds" number, but photos clearly show only a few dozens max. It's now up to Beijing to decide how HK will be pacified in the long term.

Posted by: vk | Oct 9 2019 19:04 utc | 111

Below is a link to a gold investor calling BS on the Fed's Jerome Powell saying that their expansion of the Fed's Balance Sheet by 176BN over the past 3 weeks is not QE but "organic expansion"

Peter Schiff: The Fed Is Lying to Say This Is Not QE

The take away quote
Before the 2008 crash, the Fed balance sheet was around $800 billion. It took the central bank nearly 100 years to get its balance sheet to $800 billion. It just added $176 billion in just three weeks.

Posted by: psychohistorian | Oct 9 2019 19:09 utc | 112

psychohistorian @ 112

I think we're reaping the problems of not fixing our monetary system from the last crisis. And surely things have only gotten worse.


financial matters
September 14, 2015 at 12:42 pm
The bilateral repo seems to operate like a margin account. If I own a thousand shares of IBM, I can give these directly to a brokerage, ie MF Global, as collateral for cash. If they go down in value MF Global will demand some cash back in a type of margin call.

But say they have repledged, rehypothecated, these securities. They borrowed cash from an innocent money market fund looking to generate a tad of interest and gave these thousand shares of IBM as collateral. Here is where the third party comes in. JP Morgan holds both the cash and the securities. If things go bad, either with the securities they hold or with what MF Global decided to do with its new cash, they hold onto the cash, ie don’t unwind the repo. Innocent money market fund loses money and breaks the buck. Public panics and takes money out of money market funds. JP Morgan returns devalued shares to MF Global. MF Global unable to borrow any more from money market funds.

What should the Fed role be to fix this? I don’t think there should be ‘innocent’ players here. Give savers who want it a Fed fund rate. For investors who want to be active in the repo system give them appropriate interest for the counterparty risk and then let them suffer the consequences or reap the benefits.

Posted by: financial matters | Oct 9 2019 19:30 utc | 113

Equadorian citizens capture parliament as Moreno evacuates Quito!

"Thousands of Ecuadorian protesters, many Indigenous, have seized the parliament building in the capital Quito, chanting 'Get out Moreno!'

"This is why the US-backed Moreno regime fled Quito and temporarily changed the capital to the financial hub Guayaquil."

Too bad this didn't occur before Moreno evicted Assange after torturing him. Moreno IMO deserves the Mussolini treatment as his fate.

Posted by: karlof1 | Oct 9 2019 21:34 utc | 114

Trump administration expected to announce exit from 'Open Skies' treaty

This would be the latest major international treaty the administration has abandoned. In August the US formally withdrew from the Intermediate-Range Nuclear Forces Treaty with Russia, ending a landmark arms control pact that has limited the development of ground-based missiles with a range of 500 to 5,500 kilometers.

Analysts fear the developments are likely to prompt a new and dangerous arms race with Moscow and CNN has reported the US military is set to test a new non-nuclear mobile-launched cruise missile developed specifically to challenge Russia in Europe.

. . .

"Not only is there no case for withdrawal on the grounds of national security, there has been no consultation with the Congress or with our allies about this consequential decision. Any action by this administration to withdraw from critical international treaties without the approval of the Senate is deeply concerning," wrote Sen. Bob Menendez of New Jersey, Sen. Jack Reed of Rhode Island, Rep. Eliot Engel of New York and Rep. Adam Smith of Washington state.

The Russian Embassy in Washington wrote a tweet Tuesday expressing support for the treaty, saying: "We consider the #OpenSkiesTreaty to be an important instrument in ensuring European security on the same level as the 2011 Vienna document on confidence- and security-building measures."

Posted by: Jackrabbit | Oct 9 2019 23:08 utc | 115

karlof1 @ 114

Moreno IMO deserves the Mussolini treatment as his fate.

My sentiments exactly!
A large part of me wants to see the Judas of Assange decorating a lamppost.

Posted by: ziogolem | Oct 10 2019 0:06 utc | 116

Great commentary from Michael Krieger on the neolib-neocon connection:

A Road to Hell Paved with Bad Intentions (ht ZHedge):

Trump’s election has forced many establishment Democrats out of the closet as the intelligence agency, surveillance state, empire-worshipping, centralized power bootlickers they always were. Since neocons were historically more in your face shameless about their support for endless war, oligarch-coddling, and authoritarianism, establishment Democrats could pretend to represent an ethical opposition to such things. Alas, it was all an act and if the Obama administration didn’t already prove that to you, the embarrassingly clownish neoliberal “resistance” movement should.

There are endless ways for those who dislike Donald Trump to push back against him and his administration in an ethical and productive manner, but establishment Democrats always choose the most damaging and destructive route. This is no accident. The manner in which they respond to Trump is them showing you who they really are.

. . .

A couple of days ago, Ellen DeGeneres called George W. Bush a friend as she defended herself hanging out and watching a football game with the mass murderer.

More at the link.

Posted by: Jackrabbit | Oct 10 2019 0:37 utc | 117

ziogolem @116--

Thanks for your reply and agreement! Yet, we must remember that Moreno is but a remora attached to a massive shark, and that it's ultimately the shark that must be caught and filleted. Understanding how the shark functions and came into being is key to baiting it onto the hook so it can be dismembered forever. In that spirit, I've come across yet another older Hudson item, this one a 2012 interview with a Russian group about the "Federal Reserve System":

"However, the leading bankers sought to use the [1907] crisis as an opportunity to grab power for Wall Street, away from the Treasury. In this sense, the Fed was founded in large part to take monetary control away from Washington’s elected officials and appointees, and privatize the supply of money and credit.

"So its place in the U.S. financial and economic structure is to allocate credit, primarily to serve Wall Street financial interests. That explains the insistence on the financial class here and abroad in insisting on an “independent” central bank. It means that instead of serving the public interest, it serves the interests of the banking class. The hoped-for transformation of commercial banking into long-term industrial banking was not achieved."

In the year after its founding, another financial crisis occurred in 1914 about much was made of the Fed closing down Wall Street of which this is but one example. Recall that the campaign to overthrow the canon of the Classical Economists and the USA's Institutionalists, led by Veblen, began in the 1880s because of their concentration on eliminating rent and rentiers--Wall Street's Vultures. Such stories are designed to paint another picture given the ultimate goal of creating what we now call Neoliberalism--the shark that must be slain.

Posted by: karlof1 | Oct 10 2019 1:02 utc | 118

@ karlof1 with all the damn good links!!! comment/link in # 118 is a winner

It is hard to keep up and not know which ones can be skipped.....glad I read that one

I want to quote all of it here....

Let me just provide one more part from it
The second function the Fed was supposed to perform was to promote full employment. Mr. Greenspan made it clear that he believes that this is incompatible with the ideal of price stability. He pointed out before Congress that the virtue of loading down homeowners, college students and others with debt was that they were afraid to go on strike or even complain about working conditions or seek higher wages, for fear of being fired and missing a mortgage payment or credit-card payment. Going on strike or losing as job would threaten them with loss of a home, and an immediate increase in the credit-card interest rates and penalties that they had to pay. So the Fed became the leading administrator in Wall Street’s war against labor.

Under Mr. Greenspan’s tenure and that of his successor, Ben Bernanke, the Fed has overseen the greatest shift of wealth in American history since the Robber Barons.

Finally, the Fed has taken over the functions of government by threatening to close down the economy if the government does not bail out the banks at taxpayer expense, and protect the wealthy 1% against losing money.

Posted by: psychohistorian | Oct 10 2019 2:07 utc | 119

psychohistorian @119--

Thanks for your reply! Really Demonic policy, wouldn't ya say? What would happen if the public actually knew what was planned for it and how it's being done? Would they do what Ecuadorans are doing now?

Posted by: karlof1 | Oct 10 2019 3:50 utc | 120

It appears that "Pussy Biscuit" wasn't much of a fan of the ZHedge post Secretary Of Defense, Incorporated so he/she spammed the comments with the ingredient list for Twinkies.

US MIC has a sense of humor?

All the more reason to read the post (which originally appeared at Truthdig).

Posted by: Jackrabbit | Oct 10 2019 4:09 utc | 121

Below is a link to an article at The Register techie blog that, at least, all Americans should read and grok

Remember the FBI's promise it wasn’t abusing the NSA’s data on US citizens? Well, guess what…

The take away quote
The FBI routinely misused a database, gathered by the NSA with the specific purpose of searching for foreign intelligence threats, by searching it for everything from vetting to spying on relatives.

In doing so, it not only violated the law and the US constitution but knowingly lied to the faces of congressmen who were asking the intelligence services about this exact issue at government hearings, hearings that were intended to find if there needed to be additional safeguards added to the program.

That is the upshot of newly declassified rulings of the secret FISC court that decides issues of spying and surveillance within the United States.

Posted by: psychohistorian | Oct 10 2019 5:14 utc | 122

@ #111 in re "public safety power outage"...

On battery and genset eye from Anoxia (on the Sacramento River)... Cop radio seem to indicate that they're keeping busy down at the shop...opportunist petty crime, the occasional gunshot reports, there were alarms going off at or two groceries stores - but zero fuel for sale. For now things are fine, but the economic burden on the working poor, who are loosing wages, and on businesses, who are loosing money and stock (no refrigeration) will be felt soon. The cellphone network is dead for our local, anyway. Can't call out, phone don't work. We have very fine weather, really wonderful yesterday, but breezy - I shall have to clean out the gutters, just like every year...duh...The cops radio seems to indicate that the cops are guarding the open grocery store (well it was open yesterday).

One is inclined to remark that the winds in Autumn in California blow every year (always, and I have seen this for >70 years) and therefore the winds cannot be an "emergency", can they?

Absent an emergency, those Good Men are creating one. Why?

Is this Beta testing? The Gentlemen say they expect civil disorder, but a powerdown and no fuel or phone for the deplorable nutzlosenvolk would presumably quiet any "fractious unrest", eh?

We are kettled, and being tested? Well, it passes duck-test...

Posted by: Walter | Oct 10 2019 8:09 utc | 123

jackrabbit and pogoishere... here is a mundane astrologer, fairly well known - coming out today with something similar to what i was telling you about the astro for late october, if you are interested...

Posted by: james | Oct 10 2019 21:29 utc | 125

@124 vk - thanks!

If the Chinese economic and political system can engineer the avoidance of crises that afflict other economies in the world, perhaps one day in the west people will start to ask why it is that the western capitalist systems engineer these crises in?

Theft upon theft, insult upon insult. I become increasingly less hesitant to mention the word "socialism" to friends in the US, and they in turn become increasingly less resistant to hearing that word - after all, what is there in today's tattered economy to counter it with?

Posted by: Grieved | Oct 10 2019 23:01 utc | 126

Walter @123: The management of PG&E is attempting to take the public hostage in order to blackmail the politicians into shifting the costs of the management's malfeasance onto the victimized public. This is common in recent California politics, e.g. Enron, Savings & Loan Scandal, San Onofre, etc. Coming soon Diablo Canyon. PG&E needs to be eminent domained pronto, and it's a good time for it since it's bankrupt. A public distressed acquisition. Then we have to repair all the neglect of infrastructure.

Posted by: Bemildred | Oct 10 2019 23:44 utc | 127


Thanks. It'll be interesting to see what develops.

Reminder - my predictions/expectations:

REMAIN ultimately prevails in UK (mostly likely after a BREXIT extension so an election can be held);

I suspect there's some kinda secret USA-Turk deal behind Erdogan's foray into Syria that (seemingly innocently) strengthens Turkey/SDF grip on Idlib and/or northeastern Syria - something like a No-Fly Zone (NFZ) that Trump is forced to impose due to political pressure to save the Kurds;

While Trump says he wants to leave the Middle East, my sense is maximum pressure campaign on Syria and Iran still take precedence.

US political kayfabe
nothingburger impeachment bullcrap only serves to strengthen establishment Democrats: my guess for Democratic ticket: Biden - Tulsi.

Of course, we can also expect other developments from the New Cold War, Trade War, anti-Iran crew, and more.

Posted by: Jackrabbit | Oct 10 2019 23:58 utc | 128

@ jackrabbit.. thanks.. i enjoy reading your speculations.. as a conservative kind of speculator myself, i think your expectations are very realistic... lets wait and see what happens..

Posted by: james | Oct 11 2019 0:08 utc | 129

james @125

Thanks. In my experience astrological forecasting is an art that calls for a great artist. The jyotishis with the right stuff seem to
be quite rare and excellent on specifics.

Brexit: The City has already made its deal, the rest is barking mad stuff.

Turkey et al: Erdogan is the best political street fighter in the ME, but he has serious domestic econ problems. The Kurds run with Syrian assets, i.e., oil and gas, seems to have reached end game. The Russians probably stand by and watch the drama in NE Syria while the Turks put the heat on the Kurds. Meanwhile, the bridge over the Euphrates being engineered by the Russians suggests the next major SAA front will be in eastern Syria, possibly taking advantage of the stickiness of the US-Turkey trot.

US follies: The Truman Show has legs that don't quit.

Posted by: pogohere | Oct 11 2019 2:21 utc | 130

@ Bemildred at # 127 who wrote
PG&E needs to be eminent domained pronto, and it's a good time for it since it's bankrupt.
I agree that PG&E needs to be made into a public service but question the timing. If it is done now it seems to me that the investors don't take the hit that they deserve. I want the private folks to be sued into oblivion because of their financialization rip-off before the government makes it a public utility.

Posted by: psychohistorian | Oct 11 2019 3:43 utc | 131

@ Bemildred | Oct 10 2019 23:44 utc | 127

Yes, that seems obvious. However the product of the game gets voted on by the marks...and the outcome may not align with desire. eg the marks are liable to disconnect. I understand that the central power station-distribution net is obsolete and expensive, while solar is cheaper. This has been also my personal experience.

I notice plenty of neighborly cooperation mixed with slowburn anger - the Company may not get what they want.

The proffered rational that the normal autumnal winds are an "emergency" is risible - nobody buys that nonsense.

With no time for "inspections" the utility mains came on not long ago...

That further shows that it was a deliberately created "emergency" for econopolitical gaming...the old army game.

My pal from India, who knows the ways of the world, remarked to me in his darkened store - he's seen this stuff before...I offered him a 50 amp genset on loan while we ate melting ice cream.

In dark people talk...did PGE forget this in hubris' delusions?

Posted by: Walter | Oct 11 2019 5:58 utc | 132

@130 pogohere.. sorry, i got your name wrong there! i agree with you about the artistic nature of it and that indian astrologers are the best with prediction...

Posted by: james | Oct 11 2019 6:02 utc | 133

Breaking news, An Iranian oil tanker just exploded off the coast of Jeddah, Iran claims it was hit by 2 missiles, Russia says it's too early to know if it was attacked. Looks like the B team just upped the ante

Posted by: Kadath | Oct 11 2019 9:01 utc | 134

pogohere @130: "Erdogan is the best political street fighter in the ME"

Good assessment of Erdogan. He has been chosen to back certain parties off. Like it or not, he owns Turkey, at least for now, like Putin owns Russia. He is good for making threats. Hopefully it won't take too long or get too many innocent people killed. I don't think he is going to cross Putin again. Unless I see SAA attack the Turks, I think the rest is Kabuki.

psycho @131:

At this point the management has to maintain control or the new guys (the proposers of the alternate "plan") will wipe them out. :-) More money for them, right? We of course, if we eminent domain them, will do exactly the same. It is the correct result.

Walter @132:

Central power distribution is a stupid idea, it has one virtue, it centralizes the cash flow, something "contribution"-needy legislators are sensitive too, big pots of cash are so much less work to collect.

It also creates single points of failure, a brittle system and one with a big ecological footprint, lots of land needed for power lines etc. This is particularly true of burning stuff for power. With nukes centralization makes some sense because big nukes make some sense (if nukes make sense). With hydro, there are certain locations, same with geothermal. Solar is more flexible. You get your own car, why not your own power generator, to use just what you need, with no transmission waste? Lets get everybody off the grid. IMHO. And you don't need to borrow boatloads of cash to do it.

I will be surprised if they get away with it this time.

Yes, it's good to talk to people, asshole is not a racial trait, you learn a lot.

Posted by: Bemildred | Oct 11 2019 10:07 utc | 135

Below is a link to a presentation in 2010 by Michael Hudson in Australia

THE COUNTER-ENLIGHTENMENT Its Economic Program – And The Classical Alternative

The above is a fairly long read but very educational about how classical economics has been coopted by the finance folks

One of its underlying points is about how the labor value of money has been bastardized by including costs associated by the FIRE (Finance, Insurance & Real Estate) in a counties GDP

H/T to karlof1 for the link and encouragement to read the damn thing......grin

I am not very good at explaining the complexities of the damage done by having private finance instead of public finance and the overarching debt bubble that has all in the Western world below the top 10% enslaved but reading the above does a good job of explaining what I can only tilt at with my gross simplification of the public/private finance social contract meme

Posted by: psychohistorian | Oct 12 2019 0:49 utc | 136

labor value of money = labor theory of value

please and thank you

Posted by: psychohistorian | Oct 12 2019 0:51 utc | 137

Below is another Michael Hudson link about the same concept as my link above and I am posting the first few paragraphs as summary

Classical economists developed the labor theory of value to isolate economic rent, which they defined as the excess of market price and income over the socially necessary cost of production (value ultimately reducible to the cost of labor). A free market was one free of such “unearned” income – a market in which prices reflected actual necessary costs of production or, in the case of public services and basic infrastructure, would be subsidized in order to make economies more competitive. Most reformers accordingly urged – and expected – land, monopolies and banking privileges to be nationalized, or at least to have their free-lunch income taxed away.

In keeping with his materialist view of history, Marx expected banking to be subordinated to the needs of industrial capitalism. Equity investment – followed by public ownership of the means of production under socialism – seemed likely to replace the interest-extracting “usury capital” inherited from antiquity and feudal times: debts mounting up at compound interest in excess of the means to pay, culminating in crises marked by bank runs and property foreclosures.

But as matters have turned out, the rentier interests mounted a Counter-Enlightenment to undermine the reforms that promised to liberate society from special privilege.

the link

From Marx to Goldman Sachs: The Fictions of Fictitious Capital

Posted by: psychohistorian | Oct 12 2019 1:01 utc | 138

Re. Hong Kong

It is amazing and frustrating how easily we are manipulated to act against our own interests.

Posted by: jared | Oct 12 2019 2:47 utc | 139

New York Times proves Russia bombs hospitals and pulls out all the stops to get word out:

Russia Bombed Four Syrian Hospitals. We Have Proof.
12 Hours. 4 Syrian Hospitals Bombed. One Culprit: Russia.
How Times Reporters Proved Russia Bombed Syrian Hospitals

Posted by: Bemildred | Oct 13 2019 9:09 utc | 140

U.S. preparing to withdraw all remaining troops from northern Syria: Defense Secretary:


Posted by: Bemildred | Oct 13 2019 13:56 utc | 141

« previous page

The comments to this entry are closed.