It is not the private enterprise aspect of capitalism that impedes the fair distribution of wealth, but rather the FIRE sector that infects capitalism which thwarts us. The FIRE sector lives upon the churn of securities creating capital gains windfalls while reducing jobs, wages, and competition among products and nonfinancial services.
After the 1954 tax reform that eliminated the dividends tax credit that had existed since 1913 (except for 1936-1939) then the first two LBOs occurred.
[2] Under the terms of that transaction, McLean borrowed $42 million and raised an additional $7 million through an issue of preferred stock. When the deal closed, $20 million of Waterman cash and assets were used to retire $20 million of the loan debt.[3]…”
Ron (RC) Weakley (A.K.A., Darryl For A While At EV) says:
Senator Joe Manchin (D., W.Va.) cautioned against using budget-reconciliation rules to pass the Biden administration’s infrastructure plan, in comments to NBC reporter Garrett Haake on Thursday.Manchin expressed optimism that there would be a bipartisan deal on infrastructure between President Biden and Shelley Moore Capito, the Republican senator from West Virginia. Many Democrats have pushed to pass the deal in the Senate via budget-reconciliation rules, allowing for a simple majority to support the bill in place of a filibuster-proof 60 votes.“Are you ready to go it alone with just Democrats?” Haake asked Manchin.“No. I don’t think we should. I really don’t,” Manchin responded. “Right now, basically, we need to be bipartisan.”Manchin also said “it’s a disaster waiting to happen” if Democrats attempt to pass major legislation, such as on infrastructure or voting procedures, without Republican support.The comments came a day after the Senate parliamentarian issued a new ruling by which Democrats may use the budget reconciliation process for only one more bill this year.Democrats initially considered passing the $2.3 trillion American Jobs Plan, the $1.8 trillion American Families Plan, and proposals to expand Medicaid and lower the cost of prescription drugs as separate pieces of legislation. However, because of the parliamentarian’s ruling, Democrats would have to combine the proposals into one bill in order to take advantage of the budget-reconciliation process.
President Biden is scheduled on Friday to have another discussion with Senator Shelley Moore Capito, Republican of West Virginia, about his push for $1 trillion in spending on roads, bridges, broadband and more as he tries to seize on a positive monthly jobs report.Ms. Capito is the lead negotiator for a group of Republican senators seeking a compromise with the president on the infrastructure spending package.The two sides have narrowed what started as an almost $2 trillion gap, with Mr. Biden dropping some of his demands in the hopes of securing bipartisan agreement on at least part of his economic agenda. Republicans have indicated a willingness to slightly increase total spending.Mr. Biden was tight-lipped after a speech in Delaware on Friday morning, saying only, “I’ll let you know this afternoon,” in response to a question about whether he expected Ms. Capito to deliver a Republican counteroffer. …
The wealthy have begun to move money around. Cash outs are starting in bellwether stocks such as banks JPM and WFC. A few others no doubt but when you see $200 million get sold in one afternoon it’s an interesting thread to pull. So why go to cash? Why now? Partly could be the impending tax hike expectations, or something is afoot?
Senator Shelley Moore Capito of West Virginia, the Republican leading talks with the White House, presented a $50 billion increase to the party’s latest overall $928 billion infrastructure proposal during a private conversation with Mr. Biden on Friday, Jen Psaki, the White House press secretary, said in a statement after the phone call. That increase was across multiple infrastructure programs, Ms. Psaki said.
But Mr. Biden said it did not do enough to satisfy his ambitions for a sweeping investment in the nation’s public works system that also addresses climate change and boosts the American economy. “The president expressed his gratitude for her effort and good will, but also indicated that the current offer did not meet his objectives to grow the economy, tackle the climate crisis, and create new jobs,” Ms. Psaki said.
“He indicated to Senator Capito that he would continue to engage a number of senators in both parties in the hopes of achieving a more substantial package.”
The pair are still scheduled to speak again on Monday. ,,,
Do we really have to have a social system where the highest goal is profit? https://childrenshealthdefense.org/defender/covid-vaccine-spike-protein-travels-from-injection-site-organ-damage/ If this doesn’t make you rage against your private finance drive society, I don’t have much hope for you or our species. On a positive note I can report that a Covid infected individual in Oregon today was prescribed an Ivermectin based therapy for it . . . . there is a hole in the dike of lies and deception behind the creation of the $100 billion dollar income stream for Big PharmaThe shit show brought to humanity by global private finance and sustained by folks with questionable social morals continues until it doesn’t . . . .
Happy Valentine Michael Smith :<) Cash may be less the destination than an intermediary for short position on equities, which may be covered later after the correction. This suggests that the link to rising taxes is lower corporate profits. Seems like a survivable condition, albeit a shock to many retirees. I am a retiree, but I am never shocked by the inevitable.
The pair are still scheduled to speak again on Monday. A spokeswoman for Ms. Capito said the $50 billion increase was in new funding, bringing the Republican offer to just over $300 billion in new money on top of expected maintenance of existing federal programs.Both sides have struggled to bridge differences over how to structure and finance sweeping public works projects. Mr. Biden has rejected Republican counterproposals that included far less spending and no tax increases on corporations and the wealthy.Republicans have also pushed to pay for parts of the plan using funding for the $1.9 trillion pandemic relief bill, something the White House has rejected. On Wednesday, in a meeting in the Oval Office with Ms. Capito, Mr. Biden pushed for about $1 trillion in new spending and suggested establishing a 15 percent minimum tax on corporations as opposed to increasing top-end rates.Republicans on Capitol Hill remain wary about Mr. Biden’s ambitions for new spending and his plans to pay for that spending with what they view as tax increases, and have argued that their proposal is the largest investment they have put forward. …
MONTEREY, Calif. — Leon Panetta is one of the few American government officials who can look around at the nation’s rolling cyberdisasters and justifiably say, “I told you so.”The former secretary of defense was among the first senior leaders to warn us, in the most sober of terms, that this would happen in a 2012 speech that many derided as hyperbolic. He didn’t foretell every detail, and some of his graver predictions — a cyberattack that could derail passenger trains loaded with lethal chemicals — have yet to play out. But the stark vision he described, of hackers seizing our critical switches and contaminating our water supply, is veering dangerously close to the reality we are living with now.In just the past few months, hackers — we still don’t know who — were caught messing with the chemical controls at a water treatment plant in Florida, in what appeared to be an attempt to contaminate the water supply just ahead of Super Bowl weekend in Tampa. Ransomware attacks are striking every eight minutes, crippling hospitals and American mainstays like gas, meat, television, police departments, NBA basketball and minor league baseball teams, even ferries to Martha’s Vineyard. This past week, the targets were one of the world’s largest meatpacking operators and the hospital that serves the Villages in Florida, America’s largest retirement community. The week before it was the pipeline operator that carries half the gas, jet fuel and diesel to the East Coast, in an attack that forced the pipeline to shut down, triggered panic buying and gas shortages and was just days from bringing mass transit and chemical refineries to their knees. …
LONDON (AP) — The world’s richest countries signed a landmark agreement Saturday committing them to confronting corporate tax avoidance and making sure that giant tech companies pay their fair share, Britain’s treasury chief said.Rishi Sunak, chancellor of the exchequer, said finance ministers from the Group of Seven leading industrialized nations signed the pact on the second and final day of meetings in London.“I’m delighted to announce that G-7 finance ministers today, after years of discussions, have reached a historic agreement to reform the global tax system to make it fit for the global digital age and crucially to make sure that it’s fair, so that the right companies pay the right tax in the right places,” Sunak said in a video message posted on Twitter.The G-7 ministers agreed in principle to a global minimum tax rate of 15% for multinational companies in each country they operate in.U.S. Treasury Secretary Janet Yellen, who attended the London meetings, said the agreement “provides tremendous momentum” towards reaching a global 15% rate that “would end the race-to-the-bottom in corporate taxation, and ensure fairness for the middle class and working people in the U.S. and around the world.”
Does it surprise you that millions of thousands of people have been vaccinated for the spike protein (Moderna+Pfizer+AstroZenica+J&J) with few if any unambiguous reports of toxicity ascribable to the vaccine? Why aren’t hundreds of thousands dying or hospitalized from the vaccine? Do you really believe that could be hidden from view?
Does it raise any question in your mind that your link is a non-refereed source that doesn’t conduct vaccine studies? Conspiracy theory much?
Children’s Health Defense is an anti-vaxxer conspiracy mongering outfit.
From Wikipedia: Children’s Health Defense is an American activist group mainly known for anti-vaccine activities. Much of the material put forth by the organization involves misinformation on vaccines. It was founded and is chaired by Robert F. Kennedy Jr.
Established under the name World Mercury Project in 2016, it has been campaigning against various public health programs, such as vaccination and fluoridation of drinking water.
The group has been contributing to vaccine hesitancy in the United States, encouraging citizens and legislators to support anti-vaccine regulations and legislation.
… Carbon-based life-forms are eagerly awaiting a report by intelligence officials about aerial phenomena lighting up the skies in recent years, mysterious objects witnessed and recorded by Navy pilots. …We can only speculate what aliens want from us, if they’re getting closer and closer to landing.They may want to learn why Joe Manchin and Kyrsten Sinema seem to have so much power they don’t deserve. Or maybe they’re alarmed to hear that Donald Trump is heading back to the Oval in August.I checked with one of our true living experts, David Duchovny of “The X-Files,” to see how it will play out. “I know nothing ;),” he emailed back with a wink.If the aliens are watching and haven’t exterminated us yet, perhaps they are willing to step in and lend a hand.
Harris County, home to the city of Houston, wanted to mail out applications for mail-in ballots to its approximately 2.4 million registered voters due to the COVID-19 pandemic. However, the conservative Texas Supreme Court blocked the county from doing so after it faced litigation from Paxton’s office.
“If we’d lost Harris County—Trump won by 620,000 votes in Texas. Harris County mail-in ballots that they wanted to send out were 2.5 million, those were all illegal and we were able to stop every one of them,” Paxton told former Trump adviser Steve Bannon during the latter’s War Room podcast on Friday.
“Had we not done that, we would have been in the very same situation—we would’ve been on Election Day, I was watching on election night and I knew, when I saw what was happening in these other states, that that would’ve been Texas. We would’ve been in the same boat. We would’ve been one of those battleground states that they were counting votes in Harris County for three days and Donald Trump would’ve lost the election,” the Republican official said.
HCQ was not touted as a cure for Covid. I will say “no” to the assumption made by the author. HCQ was used as an ionophore to get other meds into a cell. Didier Rauolt (France) used it for AZT. HCQ was used in association with other drugs. Some of the information found on YouTube in presentation cited zinc in conjunction with HCQ as disrupting the linkage between Covid RNA and the cellular RNA. Getting adequate amounts of zinc into the cell said to occur with the use of HCQ.
That is one theory.
The Covid meds are still going through the last of a series of clinical trials as required. The results of which are still months off. It was only because of emergency authorization was mRNA therapy brought to the forefront as a cure. The 21st Century Cures Act also played a role in this. In any case, any other therapy or proposed cure would be subject to the same.
That is a recital of my limited and very much abbreviated knowledge on the topic. Joel knows more than I do in pharma and meds.
Unlike your previous fake news link, this one doesn’t advance the lie that the vaccines are dangerous. They aren’t. There is overwhelming data on that point.
Hirshhorn advances the uncontroversial argument that we should be pursuing small molecule drugs for COVID-19 treatment as well. However, the data so far do not support the argument that either hydroxychoroquine or Ivermectin are effective against COVID-19.
Presently, the best thing we have against COVID-19 are the vaccines. Full stop.
The more we make it easy, convenient and fair for people to vote, the sooner we will start eliminating the crazies currently occupying many of the country’s elected offices and begin addressing the many critical issues facing the country. If we fail in this effort, the crazies win and democracy is lost. Political efforts must be focused on eliminating voter suppression and cannot be distracted by the myriad of other issues facing the country.
On that note, Joe Biden needs to get his act together real fast on S1, the 800 page For The People Act which is scheduled for a vote later this month. The REALITY is Democrats need 50 votes + a Filibuster Exception; OR 50 votes + 10 GOP votes to pass the 800 page S1.
They have neither!
I believe the reason they have neither is because there is a whole lot more in the 800 page bill than just eliminating voter suppression and making it easier for the public to vote. It is typical and classic Democratic overreach. Democrats must narrow the scope of this wide-reaching bill to focus on eliminating Voter Suppression & making voting easy & convenient. They need to leave the other important, yet more extraneous and controversial issues for later and get the most important part passed now (like yesterday) so they will be in effect before the 2022 midterms.
If Joe Biden and the Democratic Party leadership can’t figure out a way to get this done; the Biden Presidency will be a major failure and he will go down in history as the last POTUS of a USA democracy. The bill as written now will surely fail to get even 50 votes. A politically savvy Biden would understand that S1 cannot pass as written and would be convincing Manchin, Sinema, and other Dems on the edge (there are others) that our democracy is at stake and saying, “one way or another a modified, more focused, Voting Rights bill is going to pass or I will publicly shame you.”
The Administration should also be suggesting modified, more focused language for the bill with Democratic leadership in the House and Senate. The Administration and Democratic leadership should also be facilitating a major public education campaign about the importance of Voting Rights to all other issues and the need to focus and not get distracted with the enormous number of other critical issues. Eliminating voter suppression and addressing Voting Rights must be the number one issue for June 2021 and the vote should be taken before July 4th.
Biden should be preparing all Democratic Congressional members that a filibuster “carve out” for voting rights will probably be necessary to make this happen and that will require 50 votes. He should be reminding Members that Mitch McConnell “carved out” a major exception to the filibuster for SCOTUS appointments; and Voting Rights for all Americans is fundamentally the cornerstone of our democracy and certainly qualifies for a major exception to the filibuster. He should inform Members:
“You better damn well be on board!” Biden could also use his years of experience & knowledge of the Senate to try to find 10 solid GOP votes to support a modified bill to protect voting rights and end the widespread GOP voter suppression efforts. This would be the preferred solution and would be a deservant slap in the face to Mitch McConnell and other crazy Republican Senators and GOP members who believe the Big Lie that the election was stolen and the craziest whacko of them all in Mar-a-Lago!
“I believe that partisan voting legislation will destroy the already weakening blinds of our democracy, and for that reason, I will vote against the For The People Act,” Manchin wrote.
“The truth, I would argue, is that voting and election reform that is done in a partisan manner will all but ensure partisan divisions continue to deepen,” he added.
Meanwhile states are limiting their ability of citizens to vote. Appeasing Repubs is akin to Chamberlain attempting to appease Hitler with Czechoslovakia. They will only want more.
Manchin also said he “will not vote to weaken or eliminate the filibuster,” which a number of leading Democrats have suggested in order to pass election reform.
He said he will “seek bipartisan compromise no matter how difficult and to develop the political bonds that end divisions and help unite the country we love.”
“The House in March passed The For The People Act in a 220 to 210 vote. No House Republicans supported the measure, and one Democrat voted against the legislation.
The bill would require states to offer mail-in ballots, a minimum of 15 days of early voting and online and same-day voter registration. Additionally, it calls for the creation of independent commissions to draw congressional districts in an effort to put an end to partisan gerrymandering.
It would also provide additional resources to stave off foreign threats on elections, enable automatic voter registration, and would make Election Day a national holiday for federal workers.
The conversation surrounding election reform in Congress has increased in recent weeks, after a number of GOP-led state legislatures have passed restricting voting reform bills.”
Perhaps the John Lewis Bill is an answer; however, Manchin is incredibly naïve if he still believe Repubs will join Dems in passing a voters rights bill. Because of his obstinance he gives Repubs hope and the country will go through another 10 years of a tyranny of a minority. A very small minority . . .
“Manchin in the op-ed urged his colleagues to come together and pass election reform, while also calling for the John Lewis Voting Rights Advancement Act, a bipartisan election reform bill, to be updated and passed through regular order.”
Hey Full Stop Joel. I am offended by bullying language like that.list of therapeutic Ivermectin studiesand below is a Spanish link about Ivermectin and Mexico City that also includes references to a bunch of studiesMexico City and IvermectinOn a personal note I can say I have a picture of a prescription for Ivermectin given to a Covid victim in the state of Oregon within the last couple of days and it is helping them…
PHOENIX — When the Republican-controlled state Legislature approved a measure to limit who automatically gets mail ballots here in Arizona last month, Governor Doug Ducey signed it within hours, deflating Democrats who hoped they could leverage time, scrutiny, and corporate pressure to persuade the business-minded Republican to veto a bill they say makes voting harder.Now, Arizona Democrats are steeling for a fight against yet more GOP voting measures, like one that could expose voters with signature problems on their ballots to criminal prosecution, and another that would strip some powers from the Democratic secretary of state. And they say help from Washington can’t come soon enough.“It has felt like something of a war zone to just have to fight back as a state legislator against so many assaults on our democracy,” said state Representative Athena Salman, a Tempe Democrat. “I cannot express enough the level of urgency.”But in Washington, D.C., it was not clear whether congressional Democrats and the Biden administration had a workable plan of action to combat power grabs over local elections as they navigate entrenched Republican opposition, a narrow majority, and some dissension among their own members about how to proceed.The growing chorus from Democrats in Arizona, Texas, Georgia, and other battleground states has dialed up the pressure on the White House and congressional Democrats to shore up voting rights with federal legislation as state-level Republicans push bills that could make it harder for people of color, poor people, and young people to vote while handing their party more control over the machinery of future elections.RelatedDemocrats press for broader voting access as GOP resistsGOP pursues harsher penalties for poll workers in voting crackdownWhat happens the next time a president tries to overthrow an election?The latter set of bills would give legislatures in Republican-dominated states more power to interfere with election administration or results just five months after a Republican president riled up a mob that attacked the Capitol in an attempt to overturn the election. They have sparked fears that an anti-democratic drift in the GOP could be codified for good at the state level, leading to yet more election crises.
@psycho,I’m sorry if facts and reality offend you. You need to get over that.”I have a picture of a prescription for Ivermectin given to a Covid victim in the state of Oregon within the last couple of days and it is helping them… “LOL! The plural of anecdote is not data. Sorry.
Q: Should I take ivermectin to prevent or treat COVID-19?A: No. While there are approved uses for ivermectin in people and animals, it is not approved for the prevention or treatment of COVID-19. You should not take any medicine to treat or prevent COVID-19 unless it has been prescribed to you by your health care provider and acquired from a legitimate source.
Whether or not hydroxychloroquine, Ivermectin or vaccines work has nothing to do with Trump. It has to do with data. The current data do not support the hypothesis that either hydroxychloroquine or Ivermectin have significant efficacy against COVID-19. The current data strongly support the hypothesis that the current vaccines (Moderna, Pfizer, AstroZenica, J&J) are highly effective against COVID-19. For those of us who are interested in arguments from evidence and not arguments from authority, the data are what provide the guide to action, not the words of Trump.
Joel. Want to join me in requesting AB comes up with a “block” feature? JP, What you fail to realize is that there is not a single thing they can take out of this bill that would enable them to pass this bill. We’ve been down this road before, and if anything it is worse now.
@EMichael,I make liberal use of the block feature at Facebook. Hundreds of names on that list. It works for me in that they can’t see me and I can’t see them, making the platform more congenial to me. I’ve seen that feature on some blogs, too, and used it when it was available. I don’t care for trolls and find scrolling through a troll infestation to be annoying, but some folks like to feed them. Might be best if each of us could choose for ourselves.
Below is a link show that India has just approved the use of Ivermectin for Covid….this one is in French….sorry….its a big world and the US doesn’t run it anymoreIndia High Court approval of Ivermectin
@Psycho,What your link says is that a group of lawyers convinced the Indian government to over-rule WHO and encourage what may turn out to be medical quackery. How sad for Indian citizens to have attorneys in charge of public health. Sad.Those of us who are data-driven understand why the WHO and FDA do not endorse Ivermectin. Certainly, the fact that some lawyer’s group endorses it is no evidence for efficacy against COVID-19.
@Joel with the response about India approving the use of Ivermectin for Covid. Why would this group of attorneys work to allow use of Ivermectin? It is clear they can’t be into it for the money because Ivermectin is not under patent. Maybe they are doing it for public health purposes they believe in. I believe that mRNA vaccines are profit driven medical quackery that these attorneys have won against. I think it is sad to see health care is the West become financialized like Boeing only worse. And lastly, the fact that attorneys fought and won the right for the use of Ivermectin in India against you and your profit first folk shows its efficacy against Covid….maybe you and your friends need to lawyer up because this is likely not the end of the battle to uncover mRNA medical profit-center perfidy
You have not read much of what I wrote and write on healthcare and in particular pharma and its rising pricing much of which has no basis for increases. Indeed, if there is value added by the use of a drug for a different cure, pharma does increase the pricing overall. Insulin is made by three different companies and the price has not decreased even though the cost is low. It has been increased several times over and far above its cost.
Manchin says he will not vote for S1, the 800 page For The People Act. We knew that. This is not news. There are others that will not vote for it as written. He says the right to vote is fundamental to our democracy. He says there are many parts of the bill he agrees with and others he does not. He basically agrees that people should have a free and easy right to vote and voter suppression efforts should be eliminated.
Okay, take out the stuff he doesn’t like and put it to a Senate vote. If there aren’t 10 Republicans that support it and they filibuster it; tell Manchin there is no other choice. Carve out a Filibuster Exception for Voting Rights and pass the damn bill. If Manchin and any other Democrats do not support the fundamental right to vote free and fairly in our democracy then they must be labeled Traitors.
@ Run75441 with the response…….I visit your blog because of your reporting on SSI and a few other open minded contributors. That said, your tilting at drug pricing is not speaking to the structural problem of the financialization of health care similar to Boeing. You have written in the past that Boeing is different but I argue that it is small potatoes when compared to human health care. Profit should never enter into the equation about what is best for human health and what we have now, as seen by this Covid debacle is just the opposite…..profit above health care for all. You can see by the link to India that the dike holding back the use of Ivermectin ……because of profit has been breeched……the civilization war between public and private finance running our world is progressing…which side are you on?
Before you embarrass yourself some more, you really should find out who you are arguing with and what you are talking about. You are arguing with a teaching microbiologist, former head of department, who also was a participant of the initial Moderna trials. We have some others at AB who also dabble on the healthcare side. I think Joel has been awfully tolerant of your rants.
As for myself, I worked in the manufacturing of pharmaceuticals, salves, and healthcare supplies. My own doctors including my hematologist admit my knowledge on pharma is something to be acknowledged by the NPs who care for me from time to time. My work on pharma, the manufacture of it, and the prices has been acknowledged. Every once and a while Yves will link to my work or sometimes post it. AB and NC have a long time relationship.
I do not believe Joel or I have to justify our knowledge on pharma or anything else to you. If you pulled this type of behavior over at NC, Yves or Lambert would ask you to leave. I moderate at AB and help others here, besides write well beyond C&Ps.
@psycho,”I believe that mRNA vaccines are profit driven medical quackery that these attorneys have won against.” LOL! Which only proves that your beliefs aren’t worth a bucket of warm spit. The only quack here is you.
“A new CDC study provides strong evidence that mRNA COVID-19 vaccines are highly effective in preventing SARS-CoV-2 infections in real-world conditions among health care personnel, first responders, and other essential workers. These groups are more likely than the general population to be exposed to the virus because of their occupations.
The study looked at the effectiveness of Pfizer-BioNTech and Moderna mRNA vaccines in preventing SARS-CoV-2 infections among 3,950 study participants in six states over a 13-week period from December 14, 2020 to March 13, 2021.
Results showed that following the second dose of vaccine (the recommended number of doses), risk of infection was reduced by 90 percent two or more weeks after vaccination. Following a single dose of either vaccine, the participants’ risk of infection with SARS-CoV-2 was reduced by 80 percent two or more weeks after vaccination.”https://www.cdc.gov/media/releases/2021/p0329-COVID-19-Vaccines.html
It is not the private enterprise aspect of capitalism that impedes the fair distribution of wealth, but rather the FIRE sector that infects capitalism which thwarts us. The FIRE sector lives upon the churn of securities creating capital gains windfalls while reducing jobs, wages, and competition among products and nonfinancial services.
After the 1954 tax reform that eliminated the dividends tax credit that had existed since 1913 (except for 1936-1939) then the first two LBOs occurred.
Leveraged buyout – Wikipedia “…The first leveraged buyout may have been the purchase by McLean Industries, Inc. of Pan-Atlantic Steamship Company in January 1955 and Waterman Steamship Corporation in May 1955.
[2] Under the terms of that transaction, McLean borrowed $42 million and raised an additional $7 million through an issue of preferred stock. When the deal closed, $20 million of Waterman cash and assets were used to retire $20 million of the loan debt.[3]…”
Sometimes there are never enough carriage returns.
https://www.yahoo.com/now/manchin-cautions-against-passing-infrastructure-003517203.html
https://www.nytimes.com/2021/06/04/us/politics/biden-caputo-infrastructure.html
The wealthy have begun to move money around. Cash outs are starting in bellwether stocks such as banks JPM and WFC. A few others no doubt but when you see $200 million get sold in one afternoon it’s an interesting thread to pull. So why go to cash? Why now? Partly could be the impending tax hike expectations, or something is afoot?
https://www.nytimes.com/live/2021/06/04/us/biden-news-today/biden-caputo-infrastructure
Do we really have to have a social system where the highest goal is profit? https://childrenshealthdefense.org/defender/covid-vaccine-spike-protein-travels-from-injection-site-organ-damage/ If this doesn’t make you rage against your private finance drive society, I don’t have much hope for you or our species. On a positive note I can report that a Covid infected individual in Oregon today was prescribed an Ivermectin based therapy for it . . . . there is a hole in the dike of lies and deception behind the creation of the $100 billion dollar income stream for Big PharmaThe shit show brought to humanity by global private finance and sustained by folks with questionable social morals continues until it doesn’t . . . .
I apologize for not providing the link properly https://childrenshealthdefense.org/defender/covid-vaccine-spike-protein-travels-from-injection-site-organ-damage/
Happy Valentine Michael Smith :<) Cash may be less the destination than an intermediary for short position on equities, which may be covered later after the correction. This suggests that the link to rising taxes is lower corporate profits. Seems like a survivable condition, albeit a shock to many retirees. I am a retiree, but I am never shocked by the inevitable.
The pair are still scheduled to speak again on Monday. A spokeswoman for Ms. Capito said the $50 billion increase was in new funding, bringing the Republican offer to just over $300 billion in new money on top of expected maintenance of existing federal programs.Both sides have struggled to bridge differences over how to structure and finance sweeping public works projects. Mr. Biden has rejected Republican counterproposals that included far less spending and no tax increases on corporations and the wealthy.Republicans have also pushed to pay for parts of the plan using funding for the $1.9 trillion pandemic relief bill, something the White House has rejected. On Wednesday, in a meeting in the Oval Office with Ms. Capito, Mr. Biden pushed for about $1 trillion in new spending and suggested establishing a 15 percent minimum tax on corporations as opposed to increasing top-end rates.Republicans on Capitol Hill remain wary about Mr. Biden’s ambitions for new spending and his plans to pay for that spending with what they view as tax increases, and have argued that their proposal is the largest investment they have put forward. …
https://www.nytimes.com/2021/06/05/business/leon-panetta-cyber-attacks.html?smid=tw-share
https://www.bostonglobe.com/2021/06/05/business/g-7-nations-sign-key-pact-make-tech-giants-pay-fair-taxes/?event=event25
@psychohistorian,
Does it surprise you that millions of thousands of people have been vaccinated for the spike protein (Moderna+Pfizer+AstroZenica+J&J) with few if any unambiguous reports of toxicity ascribable to the vaccine? Why aren’t hundreds of thousands dying or hospitalized from the vaccine? Do you really believe that could be hidden from view?
Does it raise any question in your mind that your link is a non-refereed source that doesn’t conduct vaccine studies? Conspiracy theory much?
Children’s Health Defense is an anti-vaxxer conspiracy mongering outfit.
From Wikipedia: Children’s Health Defense is an American activist group mainly known for anti-vaccine activities. Much of the material put forth by the organization involves misinformation on vaccines. It was founded and is chaired by Robert F. Kennedy Jr.
Established under the name World Mercury Project in 2016, it has been campaigning against various public health programs, such as vaccination and fluoridation of drinking water.
The group has been contributing to vaccine hesitancy in the United States, encouraging citizens and legislators to support anti-vaccine regulations and legislation.
https://www.nytimes.com/2021/06/05/opinion/aliens-ufos-report.html?smid=tw-share
It never stops . . .
Texas AG Says Trump Would’ve ‘Lost’ State If It Hadn’t Blocked Mail-in Ballots Applications Being Sent Out
I agree that my last link has some weak argumentsHow about this one Covid debacle economics
psycho:
HCQ was not touted as a cure for Covid. I will say “no” to the assumption made by the author. HCQ was used as an ionophore to get other meds into a cell. Didier Rauolt (France) used it for AZT. HCQ was used in association with other drugs. Some of the information found on YouTube in presentation cited zinc in conjunction with HCQ as disrupting the linkage between Covid RNA and the cellular RNA. Getting adequate amounts of zinc into the cell said to occur with the use of HCQ.
That is one theory.
The Covid meds are still going through the last of a series of clinical trials as required. The results of which are still months off. It was only because of emergency authorization was mRNA therapy brought to the forefront as a cure. The 21st Century Cures Act also played a role in this. In any case, any other therapy or proposed cure would be subject to the same.
That is a recital of my limited and very much abbreviated knowledge on the topic. Joel knows more than I do in pharma and meds.
@Psychohistorian,
Unlike your previous fake news link, this one doesn’t advance the lie that the vaccines are dangerous. They aren’t. There is overwhelming data on that point.
Hirshhorn advances the uncontroversial argument that we should be pursuing small molecule drugs for COVID-19 treatment as well. However, the data so far do not support the argument that either hydroxychoroquine or Ivermectin are effective against COVID-19.
Presently, the best thing we have against COVID-19 are the vaccines. Full stop.
(sorry, paragraph breaks did not come through)
The more we make it easy, convenient and fair for people to vote, the sooner we will start eliminating the crazies currently occupying many of the country’s elected offices and begin addressing the many critical issues facing the country. If we fail in this effort, the crazies win and democracy is lost. Political efforts must be focused on eliminating voter suppression and cannot be distracted by the myriad of other issues facing the country.
On that note, Joe Biden needs to get his act together real fast on S1, the 800 page For The People Act which is scheduled for a vote later this month. The REALITY is Democrats need 50 votes + a Filibuster Exception; OR 50 votes + 10 GOP votes to pass the 800 page S1.
They have neither!
I believe the reason they have neither is because there is a whole lot more in the 800 page bill than just eliminating voter suppression and making it easier for the public to vote. It is typical and classic Democratic overreach. Democrats must narrow the scope of this wide-reaching bill to focus on eliminating Voter Suppression & making voting easy & convenient. They need to leave the other important, yet more extraneous and controversial issues for later and get the most important part passed now (like yesterday) so they will be in effect before the 2022 midterms.
If Joe Biden and the Democratic Party leadership can’t figure out a way to get this done; the Biden Presidency will be a major failure and he will go down in history as the last POTUS of a USA democracy. The bill as written now will surely fail to get even 50 votes. A politically savvy Biden would understand that S1 cannot pass as written and would be convincing Manchin, Sinema, and other Dems on the edge (there are others) that our democracy is at stake and saying, “one way or another a modified, more focused, Voting Rights bill is going to pass or I will publicly shame you.”
The Administration should also be suggesting modified, more focused language for the bill with Democratic leadership in the House and Senate. The Administration and Democratic leadership should also be facilitating a major public education campaign about the importance of Voting Rights to all other issues and the need to focus and not get distracted with the enormous number of other critical issues. Eliminating voter suppression and addressing Voting Rights must be the number one issue for June 2021 and the vote should be taken before July 4th.
Biden should be preparing all Democratic Congressional members that a filibuster “carve out” for voting rights will probably be necessary to make this happen and that will require 50 votes. He should be reminding Members that Mitch McConnell “carved out” a major exception to the filibuster for SCOTUS appointments; and Voting Rights for all Americans is fundamentally the cornerstone of our democracy and certainly qualifies for a major exception to the filibuster. He should inform Members:
“You better damn well be on board!” Biden could also use his years of experience & knowledge of the Senate to try to find 10 solid GOP votes to support a modified bill to protect voting rights and end the widespread GOP voter suppression efforts. This would be the preferred solution and would be a deservant slap in the face to Mitch McConnell and other crazy Republican Senators and GOP members who believe the Big Lie that the election was stolen and the craziest whacko of them all in Mar-a-Lago!
JP:
Here, here is the waste of time by Democrats.
Meanwhile states are limiting their ability of citizens to vote. Appeasing Repubs is akin to Chamberlain attempting to appease Hitler with Czechoslovakia. They will only want more.
“The House in March passed The For The People Act in a 220 to 210 vote. No House Republicans supported the measure, and one Democrat voted against the legislation.
The bill would require states to offer mail-in ballots, a minimum of 15 days of early voting and online and same-day voter registration. Additionally, it calls for the creation of independent commissions to draw congressional districts in an effort to put an end to partisan gerrymandering.
It would also provide additional resources to stave off foreign threats on elections, enable automatic voter registration, and would make Election Day a national holiday for federal workers.
The conversation surrounding election reform in Congress has increased in recent weeks, after a number of GOP-led state legislatures have passed restricting voting reform bills.”
Perhaps the John Lewis Bill is an answer; however, Manchin is incredibly naïve if he still believe Repubs will join Dems in passing a voters rights bill. Because of his obstinance he gives Repubs hope and the country will go through another 10 years of a tyranny of a minority. A very small minority . . .
“Manchin in the op-ed urged his colleagues to come together and pass election reform, while also calling for the John Lewis Voting Rights Advancement Act, a bipartisan election reform bill, to be updated and passed through regular order.”
Hey Full Stop Joel. I am offended by bullying language like that.list of therapeutic Ivermectin studiesand below is a Spanish link about Ivermectin and Mexico City that also includes references to a bunch of studiesMexico City and IvermectinOn a personal note I can say I have a picture of a prescription for Ivermectin given to a Covid victim in the state of Oregon within the last couple of days and it is helping them…
(tried to repost with double paragraph breaks and still didn’t come through)
JP
Next issue up next. Working on it.
https://www.bostonglobe.com/2021/06/05/nation/swing-state-democrats-beg-help-biden-republicans-seek-more-control-over-elections/?event=event25
@psycho,I’m sorry if facts and reality offend you. You need to get over that.”I have a picture of a prescription for Ivermectin given to a Covid victim in the state of Oregon within the last couple of days and it is helping them… “LOL! The plural of anecdote is not data. Sorry.
Q: Should I take ivermectin to prevent or treat COVID-19?A: No. While there are approved uses for ivermectin in people and animals, it is not approved for the prevention or treatment of COVID-19. You should not take any medicine to treat or prevent COVID-19 unless it has been prescribed to you by your health care provider and acquired from a legitimate source.
Here’s the link to the Q&A on Ivermectin and COVID-19. It is from the FDA and is in English, although if you prefer your facts in Spanish, you can click over to a Spanish translation.https://www.fda.gov/animal-veterinary/product-safety-information/faq-covid-19-and-ivermectin-intended-animals#:~:text=No.%20While%20there%20are,from%20a%20legitimate%20source.
@Eric,
Whether or not hydroxychloroquine, Ivermectin or vaccines work has nothing to do with Trump. It has to do with data. The current data do not support the hypothesis that either hydroxychloroquine or Ivermectin have significant efficacy against COVID-19. The current data strongly support the hypothesis that the current vaccines (Moderna, Pfizer, AstroZenica, J&J) are highly effective against COVID-19. For those of us who are interested in arguments from evidence and not arguments from authority, the data are what provide the guide to action, not the words of Trump.
Joel. Want to join me in requesting AB comes up with a “block” feature? JP, What you fail to realize is that there is not a single thing they can take out of this bill that would enable them to pass this bill. We’ve been down this road before, and if anything it is worse now.
@EMichael,I make liberal use of the block feature at Facebook. Hundreds of names on that list. It works for me in that they can’t see me and I can’t see them, making the platform more congenial to me. I’ve seen that feature on some blogs, too, and used it when it was available. I don’t care for trolls and find scrolling through a troll infestation to be annoying, but some folks like to feed them. Might be best if each of us could choose for ourselves.
Below is a link show that India has just approved the use of Ivermectin for Covid….this one is in French….sorry….its a big world and the US doesn’t run it anymoreIndia High Court approval of Ivermectin
@Psycho,What your link says is that a group of lawyers convinced the Indian government to over-rule WHO and encourage what may turn out to be medical quackery. How sad for Indian citizens to have attorneys in charge of public health. Sad.Those of us who are data-driven understand why the WHO and FDA do not endorse Ivermectin. Certainly, the fact that some lawyer’s group endorses it is no evidence for efficacy against COVID-19.
@Joel with the response about India approving the use of Ivermectin for Covid. Why would this group of attorneys work to allow use of Ivermectin? It is clear they can’t be into it for the money because Ivermectin is not under patent. Maybe they are doing it for public health purposes they believe in. I believe that mRNA vaccines are profit driven medical quackery that these attorneys have won against. I think it is sad to see health care is the West become financialized like Boeing only worse. And lastly, the fact that attorneys fought and won the right for the use of Ivermectin in India against you and your profit first folk shows its efficacy against Covid….maybe you and your friends need to lawyer up because this is likely not the end of the battle to uncover mRNA medical profit-center perfidy
psycho:
You have not read much of what I wrote and write on healthcare and in particular pharma and its rising pricing much of which has no basis for increases. Indeed, if there is value added by the use of a drug for a different cure, pharma does increase the pricing overall. Insulin is made by three different companies and the price has not decreased even though the cost is low. It has been increased several times over and far above its cost.
Manchin says he will not vote for S1, the 800 page For The People Act. We knew that. This is not news. There are others that will not vote for it as written. He says the right to vote is fundamental to our democracy. He says there are many parts of the bill he agrees with and others he does not. He basically agrees that people should have a free and easy right to vote and voter suppression efforts should be eliminated.
Okay, take out the stuff he doesn’t like and put it to a Senate vote. If there aren’t 10 Republicans that support it and they filibuster it; tell Manchin there is no other choice. Carve out a Filibuster Exception for Voting Rights and pass the damn bill. If Manchin and any other Democrats do not support the fundamental right to vote free and fairly in our democracy then they must be labeled Traitors.
END OF STORY!
J.P.
Manchin does have to be cornered and this is the only way. Otherwise he will claim he had no choice.
@ Run75441 with the response…….I visit your blog because of your reporting on SSI and a few other open minded contributors. That said, your tilting at drug pricing is not speaking to the structural problem of the financialization of health care similar to Boeing. You have written in the past that Boeing is different but I argue that it is small potatoes when compared to human health care. Profit should never enter into the equation about what is best for human health and what we have now, as seen by this Covid debacle is just the opposite…..profit above health care for all. You can see by the link to India that the dike holding back the use of Ivermectin ……because of profit has been breeched……the civilization war between public and private finance running our world is progressing…which side are you on?
psycho:
Before you embarrass yourself some more, you really should find out who you are arguing with and what you are talking about. You are arguing with a teaching microbiologist, former head of department, who also was a participant of the initial Moderna trials. We have some others at AB who also dabble on the healthcare side. I think Joel has been awfully tolerant of your rants.
As for myself, I worked in the manufacturing of pharmaceuticals, salves, and healthcare supplies. My own doctors including my hematologist admit my knowledge on pharma is something to be acknowledged by the NPs who care for me from time to time. My work on pharma, the manufacture of it, and the prices has been acknowledged. Every once and a while Yves will link to my work or sometimes post it. AB and NC have a long time relationship.
I do not believe Joel or I have to justify our knowledge on pharma or anything else to you. If you pulled this type of behavior over at NC, Yves or Lambert would ask you to leave. I moderate at AB and help others here, besides write well beyond C&Ps.
@psycho,”I believe that mRNA vaccines are profit driven medical quackery that these attorneys have won against.” LOL! Which only proves that your beliefs aren’t worth a bucket of warm spit. The only quack here is you.
“A new CDC study provides strong evidence that mRNA COVID-19 vaccines are highly effective in preventing SARS-CoV-2 infections in real-world conditions among health care personnel, first responders, and other essential workers. These groups are more likely than the general population to be exposed to the virus because of their occupations.
The study looked at the effectiveness of Pfizer-BioNTech and Moderna mRNA vaccines in preventing SARS-CoV-2 infections among 3,950 study participants in six states over a 13-week period from December 14, 2020 to March 13, 2021.
Results showed that following the second dose of vaccine (the recommended number of doses), risk of infection was reduced by 90 percent two or more weeks after vaccination. Following a single dose of either vaccine, the participants’ risk of infection with SARS-CoV-2 was reduced by 80 percent two or more weeks after vaccination.”https://www.cdc.gov/media/releases/2021/p0329-COVID-19-Vaccines.html