My greatest dismay of the week was watching the Democrats beclown themselves repeatedly (and in self damaging ways) in the hearing with Shellenberger and Taibi and make Jim Jordan (JIM JORDAN!!?) seem like a reasonable human being. I don’t know how we can make Congress work better or hearings actually be about substance, but my God they have lost the thread. The message from nearly all politicians seems to be that ethics and principles matter when we can point out that the other side is bad because of their violations, but if we are wielding power to get what we want since “we” are “good” we can do whatever we want. It’s the theory exposed in “It's Our Turn to Eat: The Story of a Kenyan Whistle-Blower” by Michela Wrong. Principles being a useful bludgeon to achieve power and then jettisoned once power is achieved.
We have in the past had many principled politicians, though never enough, but it really appears that we are in a deep deficit of them. The whole lot of them in that hearing whether they saw the truth as something that they could weaponize or something inconvenient that had to be delegitimized made me feel very depressed and angered about where our country is as far as political leadership (not that I wasn’t already there).
As the Fifth already observed with former Representative Meijer, there’s not much space made in politics for people of principle (I mean you’re a sucker to live that way seems to be the common wisdom). I disagree with Meijer on a lot of things, but I’d trade the whole lot of who was running that hearing and their cohorts for a Congress full of Meijers.
The incentives are all wrong. I feel like we are fighting human nature and the nature of the position. People who make decisions (congress for example) are powerful. Therefor, people who seek that position are going to be disproportionately power-seeking people. And attention seeking people. Once they have it, the fear of losing it is their ultimate driver. They will find whatever internal justification makes them feel better about compromising their stated principles to keep it. The position of Congressperson and the process by which you get and keep the job, are tailor made to attract the wrong people. So how could we ever hope to end up with better representatives? It’s like we advertised a job opening for standing on piles of shit, and we are wondering why all the candidates are flies.
And yet ironically every year Congress seems to want to give up more of its power to an imperial presidency and refuse to pass anything resembling a legislation.
Thats a really good point. They seem to want power only as a tool to boost status and wealth. They’ll pass on power that carries actual responsibility or god forbid, accountability.
$42B was pulled in 18 hours (old fashion, "It's a Wonderful Life" bank run) which caused FDIC to step in on Friday morning.
By Monday the SIVB will be bought by a GSIB (money center bank - think JPM/C/BAC).
Fed shopping around this weekend for a more politically palatable solution. There isn't one. It is the way markets are supposed to work. Not a dime of taxpayer money at risk.
Biden is barely sentient, but there are enough people around him at TSY & Fed who understand what happens to the Democrats donor list if this doesn't happen. Nevermind, that if it doesn't happen this weekend it will happen in 3 weeks because bank runs will occur at every regional bank.
Common & preferred Shareholders SIVB will be wiped out. Bondholders will get 30-50 cents on the dollar and depositors will be made whole. How the system is supposed to work.
The only thing the average person should take away from this is pay attention to FDIC insurance limits at regional banks.
And when the dust settles, everyone will complain about "socializing losses" when, in fact, the losses will be borne by the junior-most members of the capital structure. The government will not spend a dime except on the salaries of the FDIC officials working through the weekend.
I’m curious to see how this plays out politically. I haven’t had the desire to look at the hot takes yet. I figure it’ll get loud soon enough -- or not!
Yeah. What the fuck, right? Who what when where n why. How did the Dems get to this place? How did Dems become anti-free speech? This used to be conservative Christian territory. Yikes. Really shows you how far the left has gone towards holding ideological hands with the far-right. Totalitarianism is totalitarianism: it doesn’t discriminate based on race, party, affiliation, history, etc.
I think a lot of people who vote Dem today probably were or come from ultra-conservative Christian territory. I’m finding more and more that when they renounced their religion or whatever they got rid of some of the superficial stuff, but the core puritan programing remains completely intact.
Just to be clear I think this is a human thing, not just a “Dem” one. The idea that having the “right” values justifies, and sometimes even requires, awful behavior is a comforting lie we tell ourselves as Preparation H for an itchy conscience.
Hey, have you guys seen Daisy Jones and the Six yet? Riley Keogh, Elvis's granddaughter, really channels Lisa Marie. It's like a soap opera about Fleetwood Mac. I really like it!
I have never seen that Dick Gregory clip before. Wow, who knew that when the black folks' savior would come he'd be just as much Andrew Weil as Eldridge Ckeaver.
I kept thinking it was Sunday today. Sadly, I have to work on Second Sunday. I really wanted to shirt-cock this one.
Oh, have y’all been reading about Mr. Tom Jefferson of the Cochrane Library? Jefferson is the author of the article “ Do physical measures such as hand-washing or wearing masks stop or slow down the spread of respiratory viruses?”
He is not the author of the recent follow up statement by the Cochrane Library, that was from the editor.
Jefferson is a testy fucker, and I love him. He’d prolly be a great guest, but he rarely does interviews. Yet, I found one , I’ll post it below.
The review does not explicitly state that masks don’t work. But, in the interview, he throws cold water on mandates in lieu of evidence supporting the efficacy of masks.
Just when you get fed up with the loony Republicans, you hear this from loony Democrats. What a bunch of utter morons. Of course the voters in their districts think these fools are just great. That is the problem, is it not?
Totally unrelated, but I finally finished Clarkfarm. Now, more than ever, I believe that Cheerful Charlie is the hero of the operation (we already knew he was the brains). Apparently JC is going to raise piglets for S3! (which Amazon absolutely will be picking up again; they were clearly kicking the can down the road in January).
It’s an almost caricature case study of cancel culture. The screeching was so overwrought about the obviously satirical MM column, which I did think was distasteful & poorly advised, but come on. This was 100% performance art. No one shrieking about Clarkson was actually changing their consumption preferences; they’d hated Clarkson for years. But even casual (male) wokies like my husband (who mostly only watches Farm to placate me) have watched JC for twenty years, and they’ve seen worse. Cancellation is all about the audience, and the vulnerability of the target. If you’re conspiratorially-minded, this whole thing could read as a template “cancel culture doesn’t exist.”
The really interesting case study is YouTube/Instagram Binging with Babish, who exhibits perfect crisis discipline over three or four increasingly histrionic Harry Potter related activist tantrums. Do not apologize, do not even acknowledge. I’m incredibly impressed, hope he doesn’t crack. I think he’s made it through the salt marshes, so why cave now.
My greatest dismay of the week was watching the Democrats beclown themselves repeatedly (and in self damaging ways) in the hearing with Shellenberger and Taibi and make Jim Jordan (JIM JORDAN!!?) seem like a reasonable human being. I don’t know how we can make Congress work better or hearings actually be about substance, but my God they have lost the thread. The message from nearly all politicians seems to be that ethics and principles matter when we can point out that the other side is bad because of their violations, but if we are wielding power to get what we want since “we” are “good” we can do whatever we want. It’s the theory exposed in “It's Our Turn to Eat: The Story of a Kenyan Whistle-Blower” by Michela Wrong. Principles being a useful bludgeon to achieve power and then jettisoned once power is achieved.
We have in the past had many principled politicians, though never enough, but it really appears that we are in a deep deficit of them. The whole lot of them in that hearing whether they saw the truth as something that they could weaponize or something inconvenient that had to be delegitimized made me feel very depressed and angered about where our country is as far as political leadership (not that I wasn’t already there).
As the Fifth already observed with former Representative Meijer, there’s not much space made in politics for people of principle (I mean you’re a sucker to live that way seems to be the common wisdom). I disagree with Meijer on a lot of things, but I’d trade the whole lot of who was running that hearing and their cohorts for a Congress full of Meijers.
I share your feelings of depression and anger
The incentives are all wrong. I feel like we are fighting human nature and the nature of the position. People who make decisions (congress for example) are powerful. Therefor, people who seek that position are going to be disproportionately power-seeking people. And attention seeking people. Once they have it, the fear of losing it is their ultimate driver. They will find whatever internal justification makes them feel better about compromising their stated principles to keep it. The position of Congressperson and the process by which you get and keep the job, are tailor made to attract the wrong people. So how could we ever hope to end up with better representatives? It’s like we advertised a job opening for standing on piles of shit, and we are wondering why all the candidates are flies.
And yet ironically every year Congress seems to want to give up more of its power to an imperial presidency and refuse to pass anything resembling a legislation.
Thats a really good point. They seem to want power only as a tool to boost status and wealth. They’ll pass on power that carries actual responsibility or god forbid, accountability.
You nailed it Re incentives my friend 👍
Amen 🙏
Yep 👍
Is this the 1st workin' for the weekend that exclusively elevates a handful of "podcast bro's"?
FTC fall 2023 merch should include limited edition tee & hoodie:
“It’s not because you’re a woman, it’s because I’m a fucking asshole”
Needs a silhouette of Moynihan in one of his arms-folded serious poses.
Or the silhouette of Moynihan semi-shrugging, as he is checking out all the IDF chicks, when you guys were in Israel.
They would both work with the "slogan".
Would totally buy that for my husband
According to Wikipedia, Ben Dreyfuss was the model for Sid the Sloth in Ice Age.
This seems so bizarre that I'm suspecting it's a hoax, but on the other hand it's fucking Ben Dreyfuss we're talking about...
Newly paid subscriber, looking forward to the Second Sunday stream tomorrow. Glad I finally made the plunge, this community seems great.
Is there a link to the stream? I can't seem to find anything.
The link will come in a post at 12:59 tomorrow. Or 1:05. Just keep refreshing.
I’m re-downloading twitch just in case 🙈
Appreciate the information. I'm assuming the time is EST?
Nope. It's EDT. Don't forget to set your clocks forward!
Yeah it’s amazing here: welcome 🙏
Woof. I’m listening to the All-In Podcast guys talk about Silicon Valley Bank and I might be having anxiety https://open.spotify.com/episode/6i7aG5OQ34KW7yVqVk99k5
Don't be to anxious.
$42B was pulled in 18 hours (old fashion, "It's a Wonderful Life" bank run) which caused FDIC to step in on Friday morning.
By Monday the SIVB will be bought by a GSIB (money center bank - think JPM/C/BAC).
Fed shopping around this weekend for a more politically palatable solution. There isn't one. It is the way markets are supposed to work. Not a dime of taxpayer money at risk.
Biden is barely sentient, but there are enough people around him at TSY & Fed who understand what happens to the Democrats donor list if this doesn't happen. Nevermind, that if it doesn't happen this weekend it will happen in 3 weeks because bank runs will occur at every regional bank.
Common & preferred Shareholders SIVB will be wiped out. Bondholders will get 30-50 cents on the dollar and depositors will be made whole. How the system is supposed to work.
The only thing the average person should take away from this is pay attention to FDIC insurance limits at regional banks.
And when the dust settles, everyone will complain about "socializing losses" when, in fact, the losses will be borne by the junior-most members of the capital structure. The government will not spend a dime except on the salaries of the FDIC officials working through the weekend.
I’m curious to see how this plays out politically. I haven’t had the desire to look at the hot takes yet. I figure it’ll get loud soon enough -- or not!
Yeah. What the fuck, right? Who what when where n why. How did the Dems get to this place? How did Dems become anti-free speech? This used to be conservative Christian territory. Yikes. Really shows you how far the left has gone towards holding ideological hands with the far-right. Totalitarianism is totalitarianism: it doesn’t discriminate based on race, party, affiliation, history, etc.
Sad sad sad.
Relevant to our moment: https://blacksnakeofvanity.substack.com/p/why-youre-not-an-expert-and-im-not
I think a lot of people who vote Dem today probably were or come from ultra-conservative Christian territory. I’m finding more and more that when they renounced their religion or whatever they got rid of some of the superficial stuff, but the core puritan programing remains completely intact.
Interesting point
Just to be clear I think this is a human thing, not just a “Dem” one. The idea that having the “right” values justifies, and sometimes even requires, awful behavior is a comforting lie we tell ourselves as Preparation H for an itchy conscience.
Been reading Mencken lately. Helpful.
Agree. Both sides.
Preach it brotha 🤘
Maybe it was the manganese that made Matt threaten me with bodily harm—over an email, written by an imposter. What a shame.
🤷🏻♂️ 🪨 💊 🏭
God damn America!
Hey, have you guys seen Daisy Jones and the Six yet? Riley Keogh, Elvis's granddaughter, really channels Lisa Marie. It's like a soap opera about Fleetwood Mac. I really like it!
I'm watching & enjoying it as well! I didn't know RK was his granddaughter! Wow.
Cool that she doesn't lead with her lineage!
I think Kmele abolishing himself from premium content might be taking the whole ‘race abolition’ thing a little too far. 😀
🤣
I have never seen that Dick Gregory clip before. Wow, who knew that when the black folks' savior would come he'd be just as much Andrew Weil as Eldridge Ckeaver.
I kept thinking it was Sunday today. Sadly, I have to work on Second Sunday. I really wanted to shirt-cock this one.
Oh, have y’all been reading about Mr. Tom Jefferson of the Cochrane Library? Jefferson is the author of the article “ Do physical measures such as hand-washing or wearing masks stop or slow down the spread of respiratory viruses?”
He is not the author of the recent follow up statement by the Cochrane Library, that was from the editor.
Jefferson is a testy fucker, and I love him. He’d prolly be a great guest, but he rarely does interviews. Yet, I found one , I’ll post it below.
The review does not explicitly state that masks don’t work. But, in the interview, he throws cold water on mandates in lieu of evidence supporting the efficacy of masks.
Here is the interview:
https://maryannedemasi.substack.com/p/exclusive-lead-author-of-new-cochrane
Here is a link to the article:
https://www.cochrane.org/CD006207/ARI_do-physical-measures-such-hand-washing-or-wearing-masks-stop-or-slow-down-spread-respiratory-viruses
🤘🤘
Just when you get fed up with the loony Republicans, you hear this from loony Democrats. What a bunch of utter morons. Of course the voters in their districts think these fools are just great. That is the problem, is it not?
I think Dick Gregory was on to something. The only two times in my life I ever started a fight was after drinking a couple 40's of Colt 45.
I keep hearing Eddie Murphy as Momma Klump chanting "Manganese! Manganese!"
Totally unrelated, but I finally finished Clarkfarm. Now, more than ever, I believe that Cheerful Charlie is the hero of the operation (we already knew he was the brains). Apparently JC is going to raise piglets for S3! (which Amazon absolutely will be picking up again; they were clearly kicking the can down the road in January).
It’s an almost caricature case study of cancel culture. The screeching was so overwrought about the obviously satirical MM column, which I did think was distasteful & poorly advised, but come on. This was 100% performance art. No one shrieking about Clarkson was actually changing their consumption preferences; they’d hated Clarkson for years. But even casual (male) wokies like my husband (who mostly only watches Farm to placate me) have watched JC for twenty years, and they’ve seen worse. Cancellation is all about the audience, and the vulnerability of the target. If you’re conspiratorially-minded, this whole thing could read as a template “cancel culture doesn’t exist.”
The really interesting case study is YouTube/Instagram Binging with Babish, who exhibits perfect crisis discipline over three or four increasingly histrionic Harry Potter related activist tantrums. Do not apologize, do not even acknowledge. I’m incredibly impressed, hope he doesn’t crack. I think he’s made it through the salt marshes, so why cave now.