Supreme Court Justice Neil Gorsuch was confirmed to the high court on Friday after Senate Republicans controversially used the "nuclear option" to get his confirmation through Congress.
The "nuclear option" allowed Gorsuch to be confirmed with a simple majority vote instead of the 60 votes typically...
CNN’s Anderson Cooper was once a relatively respected newsman, but those days are long gone. In an interview with political commentator Jeffrey Lord on Friday, Cooper set an all new low for his network, throwing out all pretense of professionalism, as many of his peers in “journalism” are doing in the Era of Trump. Here’s […]
In the wake of the San Bernardino mass shooting by Islamic terrorists last week, President Obama called for more punitive measures on Americans who want to buy guns instead of addressing specific measures against Muslims adhering to a radical ideology. In a speech from the White House Sunday night, the President declared access to guns a matter of ?national security.?
During the March 29th Chinese Corona-virus press conference, a 3rd string CNN reporter started to badger him with a fake quote. President Trump took the opportunity to admonish him in front of his colleges.
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The nationalist government in Hungary passed a law Monday granting sweeping emergency powers that Prime Minister Viktor Orban says are necessary to fight the coronavirus pandemic. Those powers include sidelining parliament and giving Orban the power to rule by decree indefinitely. The law would punish those who spread false information about the pandemic with up to five years in prison. “Changing our lives is now unavoidable,” Orban told lawmakers last week. “Everyone has to leave their comfort zone. This law gives the government the power and means to defend Hungary.” During Monday’s vote, he said: “When this emergency ends, we will give back all powers, without exception.” But critics insist that Orban is using the pandemic to grab power.
I should certainly hope so. By the time the pandemic is over, George Soros’s agglomeration of Satanic Society organs should be no more. Now the God-Emperor should do likewise, declare martial law, and take the opportunity given to drain the damn Swamp dry.
Earlier today, I banned the commenter “map” for his ignorant attempt to “correct” those who actually understand how money is created. And on that note, if, at this point, you are going to try to argue with me on core economic concepts, you simply will not be permitted to comment here. The fact that I have correctly predicted two out of the last two serious economic crises – and done so in a timely manner – is sufficient justification for not putting up with idiots opining in ignorance on the basis of their outdated college textbooks. I am perfectly familiar with their beliefs about everything from comparative advantage to the money supply to the woefully inaccurate belief that banks keep 10 percent of their deposits in reserve. In any event, back in 2014, the Bank of England helpfully explained how modern money is actually created in an article entitled Money Creation in the Modern Economy (pdf). If you don’t understand that money is debt, read the whole thing. And if you still don’t understand that after reading the article, read it again.
One common misconception is that banks act simply as intermediaries, lending out the deposits that savers place with them. In this view deposits are typically ‘created’ by the saving decisions of households, and banks then ‘lend out’ those existing deposits to borrowers, for example to companies looking to finance investment or individuals wanting to purchase houses…. Another common misconception is that the central bank determines the quantity of loans and deposits in the economy by controlling the quantity of central bank money — the so-called ‘money multiplier’ approach…. Lending creates deposits — broad money determination at the aggregate level As explained in ‘Money in the modern economy: an introduction’, broad money is a measure of the total amount of money held by households and companies in the economy. Broad money is made up of bank deposits — which are essentially IOUs from commercial banks to households and companies — and currency — mostly IOUs from the central bank. Of the two types of broad money, bank deposits make up the vast majority — 97% of the amount currently in circulation. And in the modern economy, those bank deposits are mostly created by commercial banks themselves. Commercial banks create money, in the form of bank deposits, by making new loans. When a bank makes a loan, for example to someone taking out a mortgage to buy a house, it does not typically do so by giving them thousands of pounds worth of banknotes. Instead, it credits their bank account with a bank deposit of the size of the mortgage. At that moment, new money is created. For this reason, some economists have referred to bank deposits as ‘fountain pen money’, created at the stroke of bankers’ pens when they approve loans. Just as taking out a new loan creates money, the repayment of bank loans destroys money. For example, suppose a consumer has spent money in the supermarket throughout the month by using a credit card. Each purchase made using the credit card will have increased the outstanding loans on the consumer’s balance sheet and the deposits on the supermarket’s balance sheet. If the consumer were then to pay their credit car bill in full at the end of the month, its bank would reduce the amount of deposits in the consumer’s account by the value of the credit card bill, thus destroying all of the newly created money. Banks making loans and consumers repaying them are the most significant ways in which bank deposits are created and destroyed in the modern economy.
Now, perhaps you will understand why I am a deflationista. And so are you, if you believe that any of the current outstanding debt will be written off or otherwise go unpaid, even if you don’t realize that you are. Debt forgiveness and bankruptcy-related debt write-offs are the literal destruction of money, and since deflation is a reduction in the money supply, any reduction in the amount of debt must necessarily be deflationary.
• Been watching/listening to a lot of positive media content lately and it’s been a great reminder that our thoughts create our reality. • • If you want to feel hope for the future, then listen to people speaking about their enduring hope for the future. If you want to feel shitty and hopeless, listen to doomy-gloomy nihilists talking about the end of civilization. • • Whether or not things …
In this thread, we share examples of times our perspectives changed for the better. For example, I was reading this book and there were a few white pills. One of them was that it’s a good thing that Mexicans don’t assimilate as much. Even though it’s annoying to have to “press 1 for english” as the typical civnat will whine about, it’s good because it represents how little intermixing …
Anyone else watching “Goblin Slayer?” Good shit, man. I haven’t read the manga, though. Only just now googled for cool images. Is it worth it? I’m on episode 9 of season 1 in the anime. Seems like it’s ripping off “Attack On Titan” a bit, especially with the soundtrack and genocidal rage (based on fucked childhood) of the protagonist. But most anime/manga is derivative, I’m just glad it’s …
Today I watched a video by the rapper 6ix9ine. Of course there are thousands of rappers out there making horrible songs and videos…but our hope is that only handful of black kids listen to that shit. But this 6ix9ine fellow had over 190 million views on Youtube (with just one video). Who knows how many views were just white people gawking, but I have a feeling that the majority of …
I never really watched the show as a kid. Thought it was kinda’ gay. And a watered down rip off of “Married with Children.” But due to all the hubbub I torrented the first episode of the reboot. (Season 10, Episode 1). Pretty good stuff. Definitely not conservative, but compared to usual Hollywood insanity, it was a breath of fresh air. One grandkid is gay or nonbinary or whatever …
I invested a bit in crypto way back when the Chinese banned it and it dropped to $3k. Gonna’ HODL despite the fear mongering. Wanted to buy a house but shits too expensive. This guy did it for only £4,000 though. Living off the grid seems pretty reasonable. Although I believe we are at the end of an empire and some sort of collapse is inevitable, I’m not a batshit …
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… fill the vacuum, where it can. I’m not celebrating China, but also I’m not joining this dialogue with the desperate Americanist talking points that you hear from conservative media. I’d sound foolish. That’s all I’m saying.