Comments by "" (@jmitterii2) on "David Pakman Show"
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+Eero Haapala I'm a socialist, in the mixed market sense.
Economically, empirically it means competitive market principles in some sectors competitive market principles don't exist with complete private production due to natural monopolies such as utilities or essential services like medical, fire, police, judicial, legislature, executive entities, etc. And over time under completely private markets competitive market principles tend to become distorted because private business is at odds with competitive market principles and tends to invoke various activities that violate competitive market principles such as collusion, price wars killing smaller competitors with the capacity to make losses for the short term until their smaller competitors are either bought or out of business, as well as corning the market with unnatural monopoly power, etc.
It's about empirical economics.
Social-capital mixed markets using the concept of competitive market principles and applying social regulation and/or social collective production when competitive market principles are violated provide the best prosperity to everyone. Mixed market economies provide better standards of living in terms of more goods and ability to buy the goods, as well as better education, and advancement in technology that actually enhance standards of living a little more so than distribution of goods that social economic functions do.
So socialism works. A social mixed market system of private production mixed with collective production and/or regulation based on the competitive market principle. As well as assistance on both demand side and supply side.
It's the most reasonable and demonstrated to be the most successful economic structure to ever exist in human history. And such economic structures actually maximize democracy in legislature and avoids plutocratic oligarchies from becoming entrenched. It's the best method of society economically and government. It's the best method to realize a government and economy that allows the government to be for, by, and of the people.
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Democracy is actually the best form of government, because all other forms are authoritarian. What people mistake democracy for being bad, is that a democracy is a mirror, it will give them a reflection of themselves they may not like.
Also democracies can be tainted... constitutions can be too weak or too strong in enforcing or amending making the democracy not very representative of the people, super rich can buy candidates (stack candidates) so no matter the candidate the rich get whatever they want even if it is verily at odds with what the majority want or even harms the majority.
And apathy can kill the wisdom of the crowd effect, you only have a few establishment or radicals voting.
And if incumbents are able to draw up their own districts, they basically get to pick the voters instead of other way around... might as well call them Duke or Duchess of whatever office they hold. It's there's now for keeps.
Safe guards need to be in place to ensure actual democracy exists in the system.
Unfortunately in the US we have all 4 problems, and in order to fix our constitution is too strongly rigid in its amendment process. And it's all leading to apathy.
A democracy though will show the people who they are... currently we're apathetic, cowards, plutocrat dick/pussy sucking know nothing bozo the clowns who are more concerned about some coach or sports player or musicians pimple on their ass than ensuring we have a functioning government that works for all of us.
For the same type of people, it's much easier to blame it on democracy itself... hurts to look at our hideousness. Denial is the most immediate remedy... its easy and you don't have to do much but bitch. Until it becomes too apparent and painful to bare and we finally change our ways.
Basically, when doing nothing hurts more.
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Problem with DNA tests used for Ethnicity or ancestry is that they use their own current defined groups of who they think qualify as indigenous. My understanding none of them have very much if any US Native DNA to compare. And that is for the same of many locations. And of European through African to Middle East to Asia etc. ancestry certain areas have long been a mix, you're not likely to get an accurate representation of the past ancestry locations.
The best method and its only good as a group as individual ancestry end doing Y chromosome mapping if no males were the product of you, or X chromosome mapping when at some point a male was product of you, so trying to use X or Y chromosome mapping creates blind spots of other ancestry as those markers weren't past down from that particular generation.
Genetic information becomes diluted after just 3 generations, if you had one person who was Hispanic, and all subsequent were western European, physically the 3rd generation and especially the 4th generation will have no Hispanic physical traits, and the DNA key markers will have that 90% to higher in common with the western European DNA groups, which is typical for all Europeans, it tells you nothing of small variations.
You can only hope that you can use Y chromosome mapping and X chromosome mapping on every generation of that family, and someone may show up as set of special markers indicating there was Hispanic and Western European in the family at one point, then those offspring just reproduced with western European groups. It's very expensive. Entire families need to be DNA tested and Y and X chromosome mapping undertaken.
That's why those ancestry dna tests are a joke. Take them with a grain of salt. DNA as a whole can only carry so many generational information, there are blind spots just after the 3rd or 4th generations, then after those generations, the blind spots become exponentially bigger. The chromosome markers (which commercial DNA tests don't use because they're only for group analysis) are the only long term source to discern anything.
So you're only looking back about 3 to 4 generations, and they're not that accurate since some of these commercial genetic checkers have a piss poor indigenous definition and sample volume.
Just keep that in mind.
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We're in the middle of the biggest bubble ever. Everything bubble or mother of all bubbles... mortgage debt is beyond that of 2007 crash, stock market margin debt is double to that all time reach in 2007 before that bust, credit card is beyond that of last recession, vehicle/auto loan debt is $1.3 trillion well beyond that of 2007 at only $400 billion, corporate debt was about $4 trillion is now $9.1 trillion much of it was used to finance stock buy backs and merger acquisitions... it's insane.
The stock market was the fugazi generating lots of debt pile up and miss allocation of desperate affluent and oligarch rich trying to find a better return on a portion of their portfolio, going into various tech unicorn companies some of which made IPO and some already showing the fraudulent activity like Theranos... much more of that type of bullshit hot air to bust.... this fooled high profile people like retired General Colin L. Powell, George P. Shultz, and military general now US SOS Jim Mattis, Hillary Clinton, Betsy DeVos, etc. all having board roles in the company.... demonstration that these people aren't "smart" they're just greedy and creepy.
Get ready for the postponement of what was going to be a major depression in 2007, happening likely by 2019-2020 transition... Lots of collateralized debt obligations in business debt... yes similar to that of the housing crisis mortgage nonsense... most of these loans chopped up are destine for failure, and many payments on them are due in 2019 and especially 2020.
Currently, we have lots of this type of stuff going on already in China in their P2P lending. China undertook massive debt over the 2008 to 2015 period to keep production and jobs stable while US, Australia, Europe and rest of Asia were in recession and stopped buy as much.
This time is odd. Last time commodity prices were starting to soar higher in 2007 period... this time commodity prices are only mildly up from their recession lows and commodity bust that happened about 2011-12. Busting Brazil completely. And many commodities in the tank still and losing more ground... last time I just suspected lost of speculation out of stocks that were tanking into commodity contracts that were bubbling up and crashed in 2011-12, proceeds went back into stocks and fueled tech unicorns.
Major industrial companies like GE, 3M, caterpillar, and various car sectors have taken on massive debts and their revenues are quickly vanishing. Really the only companies with large cash piles are only the top richest 40, all others are in dire straights.
This next economic downturn is going to be something we haven't seen since the great depression... but even worse. Lot's of us will be out of a job.
All I can say is save your money as much as possible, and don't be in anything that is too risky... stocks, fuck no... wait for at least a 45% to 50% drop in stocks from their all time S&P500 highs. And even then only put a partial allocation maybe 25% or 50%... because the likely drop will be more like 80% to 90%. Just wait for the discounts. And this severity... you might not get much of a bounce. This next bust looks to be one that may finish out the current financial corporate business structure completely. Likely will cause more pressure in Italy which has massive amounts of debt liabilities orders of magnitude bigger than that of Spain and especially Greece.... the complete dissolution of the EU is very likely by 2022-2025.
Hold on to your butts. The next 10 years is going to fucking suck ass for just about everyone.
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Trump is an idiot. The polar vortex that rotates about the poles becomes weakened as it warms in the polar area causing the cold polar air masses to go further south into lower latitudes causing super cold temperatures in those areas. We've been dealing with vortex weakening increasingly over the past 10 years. It means winters in higher latitudes just beyond the polar latitudes will have severe cold temps in winter, while sever warm temps in the summer, dry regions will experience more dryness, and wet regions will experience more precipitation. Latitudes just north and south of the equator, the tropical latitudes will experience increasing temperatures every year; rainy seasons and dry seasons will be extended. All bad for crops, and already begun in latitudes of Mexico, S. Texas and California, North Africa through to Egypt, Sudan, Syria, and this movement will continue north and south latitudes of the equator. Many of these places are already experience political unrest, famine, as well as mild food shortages.
Crop disaster in the making. Nations fall apart when food becomes scarce.
Based on the data so far using a best case scenario, crop yields will have an abrupt and increasing decline in just a decade. You'll notice the problem when once year round crops like tomatoes, lettuce, cucumbers, oranges, berries etc. become seasonal at grocery stores. That's likely to occur in 2030-2040.
Then grains and seasonal crops become expensive and some not even available some years about 2050-2060.
Even developed nations may face isolated famine like conditions by 2070 to 2080, if wars aren't already contributing to food production problems making food shortages and famine even worse.
The major sea level rises that will effect every coast doesn't really start causing severe problems until about 2100 to 2120 on the best case scenario. But by that time, nations will be economic cluster fucks from reduced world wide crop yields. Hardly in any economic situation to even rebuild cities further inland, let alone try to create massive projects in a vane attempt to save the cities location.
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Our system, if all national debt was paid off you would have hyper deflation since most money in existence is based on national bonds that come into existence due to deficit spending. Even if you exclude private debts, private debts is how most money is created in the first place in fractional reserve lending system called Money multiplier, creates most money in the system, but has a catch, there's never enough money to pay off all debts, so you would have massive defaults.
US the reserve amount is only 9% of bank deposits, so 91% maybe lent out... its a factor by 9.1 times more money due to fractional reserve lending, than what underlying money actually exists.
There's never enough money at one time to pay off all the debts, often government spending provides a cushion for lack of liquidity at any given time, and even has an emergency should any one bank have issue can borrow at a discount that essentially promises profits to banks, over night, and sometimes at longer periods to keep them liquid... enough cash to service deposits waiting for loans to be repaid.
Anyway, if government paid all deficits off, money supply to pay principle and interest would become insufficient, liquidity problem would occur, and many loans would go into default. Pressuring most banks into default themselves, runs on banks would occur particularly with depositors with more than the FDIC $250K insured amount.
And if everyone tried to pay of their private loans all at once, banks wouldn't have sufficient deposits on hand to repay all those loans, FDIC insures up to $250K, but generally has a budget limit that would need to be increased or removed by congress to continue FDIC on failed banks to pay deposits.
Our system is based on financial time value of money.
More people should understand how such a system works. No matter what system you have, there is always an element of time that changes that value of money.
What makes having a low national debt handy, is if the country for whatever reason wants to spend large sums of money into the economy, giant sums of GDP increase in spending without causing price distortions, having a lower debt to GDP ratio gives that wiggle room to do so.
The more government debt to GDP, the more harmful effects are possible when the government wants to spend more money... there's also the interest on such debt... servicing greater volumes of debt means a substantial amount of a national budget is tied up in paying principle and interest on rotating bonds... less money to use for actually spending into the economy (building roads, fire, healthcare, etc.).
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We're also in bigger crisis in areas that won big after WWII. There is a 40 year malaise in the richest countries. And the developing countries like China are paper tigers with large income growth over the last 20 years, but it's comparably too small; 300 million out over poverty in China, but 1.1 billion still in poverty. That's not stable. Same with Brazil, which has already returned to a deep recession yet again. Developing nations in a state of perpetual state of "developing".
And developed nations are in a vicious race to the bottom in return to oligarchy robber baron economies that gave us various collapses through history; the most recent was the 1900's which gave us USSR Stalin/Mao/Pol Pot and fascist Spain/Italy/Germany and collapsing UK, and continuing backwater of the US.
We've instituted the same conditions of the early 1900's.
And as the other person mentioned, we now have technology that is more powerful/deadly than WWI and WWII. And we're even more "global" in production than various other times in history that makes economic hit when wars break out more painful to various nations. Too interconnected increases the risk of a wide spread economic collapse causing vicious cycle of civil war and war with other nations. The great bronze age collapse was in part due to incredibly required interconnected not enough self reliance Egypt, Minoan Crete, Mycenaean Greece, the Hittite Empire, Mittani, Assyria, and Kassite Babylonia collapsed over a course of a 100 years in period of 1200 BCE. Trade is good, but becoming to reliant on trade invokes "You can give a person a fish, they eat for a day; you can teach them to fish, and they can eat for life."
Over connected causes us to be so specialized that nations are incapable of supplying their own basic goods.
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Underlying fundamentals is a mountain of debt, this time same major 3 (mortgage debt, stock margin debt which is now about doubled, and weak diminishing real income) are now larger than before with 4 more major bubbles that didn't exist before ( $1.3 trillion in vehicle debt, was only $400 billion in 2008, corporate debt topping $8 trillion with lots of junk rated bonds, most companies are in debt to their eyeballs, the slush money some say corporations are holding only apply to the top 1% of the richest companies, Credit Loan Obligation topping $1 trillion well beyond 2008 and essentially subprime loans for businesses, commercial real-estate debt up beyond 2008 while retail literally is imploding, and of course the student loan over $1.5 trillion was only $500 billion in 2008).
We're literally at the top of an insane leveraged economy that is strung across essentially all sectors that when the eventual bust happens will be more catastrophic than combining the last several recessions together: the "great recession", smaller than the savings and loans disaster of 1989, the first tech bubble of the 90's.
And the problem doesn't seem to be just with the US, but even China with it's massive P2P lending debt along with softening demand from US, Canada, EU nations, Australia, etc. And many other nations that had run ups in commodity prices in 2006 thru 2009 crashed and are in horrible recessions to this day like Brazil.
Anyway, expect an insane crisis unlike anything before in modern history, this maybe even darker than 1929 stock market crash and eventual depression.
Essentially, our economic systems will demonstrate they're utter failure. And unfortunately, society brainwashed in wonderment of this asinine system are ill equipped to handled the collapse... we're seeing how we're handling it before it's collapse world wide by electing buffoons and rise nationalists and theocratic superstitious fools turn murderers.
Since huge amounts of leverage loans need paid more than 13% in 2019, a larger chunk is due 2020... that's the most likely period of the insolvency of the entire system... oh nations will print money and some nations won't. But at that point, the gigs up.
The conditions are set that nations that print money to again re-inflate assets like housing/buildings will only cause hyper inflation, and those that don't will suffer deflation; neither work. The system is quite literally bankrupt.
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We're overblown the idea of what China is... it's simply the dumping ground for cheap labor... it failed to provide a virtuous cycle of a middle class. And they're facing a debt binge as huge as the US and many other countries both in private and public debt. The recent P2P lending has already crashed.
Production is saturated in China along with all other countries with massive manufacturing capacity with the inauthentic advantage of low wage workers... of China's 1.4 billion population 1.1 billion are still in poverty conditions.
And this is much the same around the world in all persistently "developing" nations... Brazil, all the central American countries, most of the S. American Countries, the Middle Eastern countries and along N. Africa are basket cases even those not hit so hard by the so called Arab Spring, India still has over a billion in poverty despite having vast resources, wealth, but their fatalistic culture I think keeps people in a state of apathy there.
There is no place in the world that is stable in this race to the bottom economic structure.
US $19.39 trillion, $12.24 trillion China, and Russia is already a tiny economic power at $1.578 trillion.... doesn't matter the country we're head for major world wide depression, the eventuality of race to the bottom supply side economics.
Every nation took part in it, even the most socially mixed nations like Germany, Norway, Sweden, etc. No nation will be unaffected.
Trump is just a symptom of the collapsing nature of 40 years with the race to the bottom supply side economic strategy... the symptom that speeds up its own collapse.
Good luck.
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First off, it's absurd to call universal healthcare slavery, a right to something doesn't necessarily imply conscription. Doctors and nurses and other medical staff in universal healthcare are not forced to do the work, they were never forced to go to medical school. You wouldn't want someone forced to do anything, they'll likely botch the work... it's idiotic... that would basically calling fire, police, air traffic control, USPS, city utility, etc. all slaves... it's just absurd.
Secondly, not surprise. Libertarians are nothing but walking talking contradictions. Listening long ago to Molyneux praising the wonders of our US for profit non-universal healthcare system, how wonderful it was... then to find out he was Canadian living in Canada... I thought... FUCK YOU! You don't have to suffer our fucking idiot healthcare system... you don't even live here! Come on over! See how much you'll like potentially bankrupt should you need a critical medical procedure.
Lastly, most hospitals and clinics are private, what is socialized in the system is a universal payer (insurance like structure). Germany is the same... so is France... most universal healthcare is that method. It's a single payer system. And where there isn't enough hospitals, clinics and countries other than Canada that doesn't cover dental (which is absurd) also have some government dental clinics... but most are privately owned and operated with a single payer being the government.
Nobody is forced to work in any job. They do it for a variety of reasons, they like doing surgeries they like the work they do, and they do get compensated more so than almost any other profession.
The only country that I'm aware that has most medical establishments and workers as their government employees is the UK... and they're always rated best in all categories in overall care year after year. None of them are forced to work... and in fact, the MD's dental and medical (stupid we make a distinction even in the general sense) are all paid the same high incomes, but also registered and just licensed nurses... the ones who change bed pans and do most of the difficult labor, get paid even more so... they're system just cuts out profit motive, no need to steal from the doctors and especially subordinate medical staffs' incomes so that a collection of do nothing shareholders and owners and racketeer of injuries and sickness.
And they pay half of what we pay per capita... just about all the universal healthcare countries only by about half per capita than our nation. And they get much better results.
Libertarian arguments on economics are pure unadulterated bullshit.
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