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How Big Of a “Hoax” Is That “Dirty Dossier”?

How Big Of a “Hoax” Is That “Dirty Dossier”?

 In the wake of the Atlantic story by Jeffrey Goldberg about President Trump reportedly referring to the dead Americans lying in the Aisne-Marne Cemetery near Paris as “losers”  and “suckers,” along with a lot of other embarrassing things for him, Trump has called Goldberg a “slimeball” and that that this report is another “hoax” like “the dirty dossier” of Steele, along with “Russia, Russia, Russia” also being a “hoax,” of course, despite the recent bipartisan Senate Intelligence Committee report further verifying that there was even more Russian interference in the 2016 election than the Mueller Report verified (105 meetings between Trump campaign officials and various Russians, with several of those officials then lying under oath about their contacts).

Of course, Trump is on tape calling the late John McCain a “loser” because he was captured by the Viet Cong during the Vietnam War. I thought when he said that it would be the end of this then primary campaign, but it barely budged him a notch, the first sign of how he could get away with outrageous statements and actions that would do in other politicians.  But his base viewed McCain as a “RINO” traitor to their cause, so it was OK to diss him hard.  But now this new report is hitting Trump hard, especially given the widespread reporting of polls showing active military members supporting Biden over him and reports of retired Marines who has Trump signs in their yards throwing them in the garbage. The dead at Aisne-Marne did not run against Trump in a primary or contest for control of the Republican Party.  They died in a crucial battle that stopped the final German effort to conquer  Paris in the WW I.

So Russia was not a hoax, but what about that infamous Steele dossier?  Of course for those who get all their news from Fox, where Trump is also having a problem with their national security reporter supporting some of the Goldberg article, referring to the Steele dossier as “dirty” is a regular button to push to make the faithful sit up and bark their support.  It is like “Benghazi,” something pounded on so often the faithful are fully indoctrinated that there is something there. About every other night Hannity reminds the suckers that it “has been completely discredited” and “was bought and paid for by Hillary Clinton.”

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Testimony of Mark Jamison; Jones v. United States Postal Service Part II

Testimony of Retired Postmaster Mark Jamison in law suit against the USPS and DeJoy filed Wednesday, September 2, 2020, Save The Post Office

Jones vs Louis DeJoy, Postmaster General of the United States Postal Service and Donald J. Trump, as President of the United States, US District Court, Southern District, New York

Plaintiffs’ Memorandum of Law in Support of Their Motion for Preliminary Injunction, US District Court, Southern District, New York

Declaration of Mark Jamison, US District Court, Southern District, New York

Election Mail

Angry Bear added this chart to depict how people are voting by mail. There are 44 million voters in nine (4 just added) states + D.C. voting by mail only, 118 million voters in 34 states where absentee voting is allowed for all, and 46 million voters in seven states where an excuse is required for absentee voting. The chart above reflects this pattern although some states changed how they vote by mail with some going to all mail, etc.  The purpose was to depict how big the mail-in voting is.

Mark: In the 2018 election there was an audit of election mail that showed that only 96-98% of ballots were delivered on time; in some areas these percentages were worse. The current on-time percentage for the USPS is somewhere closer to 95% right now (again, much worse in some areas). If we applied that number to election mail, that would be like throwing out 5% of the ballots. I do not think that you can deliver 100% of 1st class mail to all of the various addresses that they go to nationwide; there will always be a few problems with deliveries. However, 100% on time delivery of BALLOTS should be the goal for the USPS. There are many articles related to election mail concerns and suggestions that are being published in the leadup to the 2020 election and in response to nationwide concerns about holding free and fair elections, including one that I wrote.

A simple lack of institutional attention could noticeably slow down mail. For the most part ballots originate and are processed within a local area serviced by one or possibly two plants. This takes some transportation issues out of the equation. There are some areas, e.g. Florida where a significant portion of residents have second homes and may be mailing ballots from a distant location. Otherwise the concern is processing and on-time performance within a local area.

Not all first-class mail receives a postmark since some of it does not run through the machines that the USPS uses to cancel mail. Marketing mail would not normally receive a postmark. As recently as the 2018 election, the USPS typically treated ballots and other election mail as 1st class mail, even if it was sent at marketing mail rates.23 The letter sent by Thomas Marshall to 46 states’ secretaries of state and that is referenced above indicated that the USPS would not be able to guarantee on-time delivery of ballots (at least eight days out in the case of Washington state). Marshall’s letter suggests that election mail (ballots or requests for ballots) that is entered at marketing mail rates will be handled as marketing mail, which receives the least preferential handling.

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Testimony of Mark Jamison; Jones v. United States Postal Service Part I

Testimony of Retired Postmaster Mark Jamison in law suit against the USPS and DeJoy filed Wednesday, September 2, 2020, Save The Post Office

Jones vs Louis DeJoy, Postmaster General of the United States Postal Service and Donald J. Trump, as President of the United States, US District Court, Southern District, New York

Plaintiffs’ Memorandum of Law in Support of Their Motion for Preliminary Injunction, US District Court, Southern District, New York

Declaration of Mark Jamison, US District Court, Southern District, New York

“Though passion may have strained, it must not break our bonds of affection. The mystic chords of memory, stretching from every battle-field, and patriot grave, to every living heart and hearthstone, all over this broad land, will yet swell the chorus of the Union, when again touched, as surely they will be, by the better angels of our nature.”

Introduction

Those were the stirring words of President Lincoln during his first inaugural address. The nation had come to a crossroads or perhaps it was a dead end, we could no longer go on without facing our original sin, what some euphemistically called “that peculiar institution.”  After four years of the bloodletting, we finally put aside the evils of slavery, but rather than finish the job we stopped half way.

It took a century to bring the hope of healing to the next step with the Civil Rights laws of the 1960’s. And still we hid from our responsibilities and the hopeful destiny that could have been our course. Some clung to hate and privilege, resisting and rejecting the idea that all of us were created equal and had a role to play as citizens in this experiment of self-government.

Today we have the opportunity to starkly face and solidly put to rest the sins of our past. Even now when the chance to make amends is within our grasp there are those who choose anger and dissension, hate and separation, obfuscation and obstruction over opportunity.

There is no right more sacred than the right to vote, to exercise one’s choice in free and fair elections. Through the Civil War, World Wars, the 1919 flu pandemic and all matter of natural disasters, we have made it a point to hold elections. In these troubled times, faced with another pandemic, there are those who would obstruct our ability to vote for purely partisan reasons. There are those who are too cowardly to stand before the electorate and seek an honest count.

We can and must do better. Every citizen who wants to vote should be able to vote and there should be no question or impediment that prevents that or the counting of their ballot. Every voice must be heard.

The U.S. Postal Service is a treasured institution. It has been around in one form or another since before our country was founded. The mandate of Title 39 gives the Postal Service a mission — binding the nation together. Those words are reminiscent of Mr. Lincoln’s mystic chords. The idea of binding the nation together also implies a healing and a connection. For our entire history the Postal Service has bound this nation together.

Today there are at least ten lawsuits seeking to ensure that the Postal Service does not become another casualty in our age where our most cherished norms and even basic truth itself are rejected for fear mongering, conspiracy theories, financial  advantage, and the exposition of ugly hate that tarnishes any notion of our better angels.

I had the privilege of testifying in one of those suits.

The following testimony was submitted to the U. S. District Court for the Southern District of New York in the case of Mondaire Jones, et al., v. United States Postal Service, et al, on Sept. 2, 2020. The testimony in its original legal format is here.

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Weekly Indicators for August 31 – September 4 at Seeking Alpha

 by New Deal democrat

Weekly Indicators for August 31 – September 4 at Seeking Alpha

My Weekly Indicators post is up at Seeking Alpha.

Another long leading indicator, corporate profits, are expected to improve substantially in Q3, meaning that yet another forecasting element for the economy one year from now has stopped being a negative.

Lots of conditions are in place for growth – but only when the coronavirus is brought under control.

As usual, clicking over and reading should bring you fully up to date, and it also rewards me with a penny or two for putting in the effort each week.

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Two links to ponder

The Revolutionary Post

Winifred Gallagher, author of How the Post Office Created America: A History, argues that the post office is not simply an inexpensive way to send a letter. The service was designed to unite a bunch of disparate towns and people under one flag, and in doing so, she believes the post office actually created the United States of America.

Digital Sight Management, and the Mystery of the Missing Amazon Receipts

 Amazon stopped including item details in order confirmation and shipping notification emails a few months ago. They just show the price and order date now. For all its faults, Amazon has pretty good customer service, which makes this user-hostile change baffling to understand. Sure, you can still see your orders on Amazon’s website and download a CSV, but it’s far more cumbersome than searching your email; …

What reason would be big enough for Amazon to annoy so many of their users? It’s simple: data.

Popular free email clients like Edison Mail and Cleanfox “scrape” their users’ emails and sell anonymised or pseudonymised data on to third parties. With enough users, they can detect trends and measure brand loyalty – valuable information for competitors. By stripping item details from its emails, Amazon tells us just how much this was hurting them.

 

 

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Markets and Entrepreneurs

Which came first, the chicken or the egg?

That’s easy, First, there had to be a market. Without a market, no matter how good the idea, how well capitalized the enterprise, how competent the management team, or how skilled the workforce; there can be no business.

So, where do markets come from? Markets seem to come in three forms. They may be found in plain sight, they may be hidden in a forest of commerce, or they may be foreseen and realized only by people of exceptional vision. All three forms are available in a wide range of sizes.

Existing businesses, facing things like changing taste, obsolescence, … are obliged to always be looking for ways to expand their share of an existing market or for different markets to enter, and to always be on the lookout for new markets.

Entities and individuals considering starting a business might have a plan for capturing a share of an existing market, think that they have spotted a market not being well served, or have a new product idea that they believe will create a market.

So, how does this search for markets go down? Who are the diviners? A well-capitalized start-up will do market research; have a formal market survey done by professionals. Market Research is a highly developed science. The report will probably be highly confidential, provide great detail, and get really close to getting it all right. A Mom and Pop start-up may be more of the snoop, pry, and mostly dream type of survey. We see the Well-Heeled, the Mom and Pop, and everything between.

What do we call these entities and individuals, and everything between, that start up a business? If they start up another Mom and Pop Pizza Shop; maybe Pizza Shop Opener? Or foolish? Round Table Pizza Restaurant; Franchisee. What if they start up a business that no one had ever heard of before? One that will provide lots of new jobs and save the Nation’s economy?

What’s that sound? It’s a bird! It’s a plane! It’s an Entrepreneur! The Nightly News Readers on Cable TV casually toss off the word while affecting their knowledgeable airs. High School Business Academy Teachers always speak the word with a little excitement in their voices. Entrepreneur — a french word loosely translated — describing either a contractor or someone who undertakes doing something, or both…

Webster says: one who organizes, manages, and assumes the risks of a business or enterprise.

Wiki says:

a person who has possession of a new enterprise, venture or idea and assumes significant accountability for the inherent risks and the outcome. … is a term applied to the type of personality who is willing to take upon herself or himself a new venture or enterprise and accepts full responsibility for the outcome.

And, yes, the two are not the same.

Or, … Jean Baptiste Say said, “one who undertakes an enterprise, especially a contractor, acting as intermediatory between capital and labour.” Or, … choose a level of personal, professional or financial risk to pursue opportunity.

Well that settles that.

Innovator, from Latin, not french, a term less often heard, might be easier to get a handle on.

Webster says, to innovate is to:

intransitive verb: to make changes: do something in a new way

transitive verb: to introduce as or as if new

Wiki says:

Innovators are the persons or organizations who are one of the first to introduce into reality something better than before.

An innovator innovates. Someone like an inventor, a researcher, a futurist, an idea man, … Got it!

Most Business Academy teachers don’t tell their students that SRO Hotels are full of entrepreneurs.; that being an entrepreneur is an extremely high-risk venture. That if the odds are one in a million of making a $million; don’t invest your life. In fact, don’t invest more than $1. That Jobs and Wozniak had a really big idea was much more important to Apple’s success than any willingness to risk it all. Musk has taken tremendous risks starting up Tesla, risk based on the considered conviction that electric cars were the future. Gates and Allen didn’t take the risk of starting Microsoft for the thrill of it. They did it because they, like Jobs, Wozniak, and Musk, were sure that they had glimpsed a future market. They saw the odds of success as being pretty good.

Which came first, the idea or the market?

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August jobs report: continued slow incremental progress

August jobs report: continued slow incremental progress

HEADLINES:

  • 1,371,000 million jobs gained. The gains since May total about 48% of the 22.1 million job losses in March and April. The alternate and more volatile measure in the household report was 3,756,000 jobs gained, which factors into the unemployment and underemployment rates below.
  • U3 unemployment rate fell -1.8% from 10.2% to 8.4%, compared with the January low of 3.5%.
  • U6 underemployment rate fell -2.3% from 16.5% to 14.2%, compared with the January low of 6.9%.
  • Those on temporary layoff decreased 3.1 million to 6.2 million.
  • Permanent job losers increased by 534,000 to 3.1 million.
  • June was revised downward by -10,000. July was also revised downward by -29,000 respectively, for a net loss of -39,000 jobs compared with previous reports.

Leading employment indicators of a slowdown or recession

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Initial and continuing claims: very slow “less worse” progress continues

Initial and continuing claims: very slow “less worse” progress continues

 

The continued good news in this Thursday morning’s jobless claims report is that the trend of “less worse” news is intact. But the improvement has slowed dramatically and is still at a level of about 150,000 higher than the worst weekly levels of the Great Recession.

On a non-seasonally adjusted basis, new jobless claims rose (slightly) by 7,591 from their pandemic low last week to 833,352. After seasonal adjustment (which is far less important than usual at this time), claims declined by 130,000 to 881,000, their “best” reading since the pandemic began. The 4-week moving average also declined to a new pandemic low of 991,750, its first reading under 1 million:

Continuing claims, on both an unadjusted and seasonally adjusted basis also continued to decline to new pandemic lows, by 765,644 to 13,104,366, and by 1,238,000 to 13,254,000 respectively:

 

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Should We Fear A Reappearance Of Inflation?

Should We Fear A Reappearance Of Inflation?

 In today’s Washington Post Robert J. Samuelson has raised the possibility that the Federal Reserve may be setting the US up for a reappearance of inflation.  He invoked the 1960s and 1970s when supposedly the Fed allowed inflation to get out of control out of a supposedly misguided effort to bring down unemployment by allowing successive small increases in inflation. Supposedly the newly released report on changed Fed policies may be taking us back to those bad old days, even though for now RJS admits that inflation is low, with expectations of inflation only at 1.34%.  How worried should we be?

OK, I am not going to say that a resurgence of inflation is impossible.  I can imagine it possibly resurging, with such a development perhaps being associated with a sharp decline of the US dollar, perhaps associated with a turn from its use as a reserve currency.  I do not see that happening immediately, but there is theoretical literature that suggests that such an event could happen rather suddenly at some point.  If so, then maybe it could happen.  Is the new Fed policy likely to bring this on?

I suppose one reason to be concerned is that the supposedly new policy approach has been rather opaque.  I have had trouble getting a clear picture what the changes are in the policy. The main reports have been relatively undramatic, basically an idea that at least through the next year there will be no interest rate increases.  Probably a bigger deal is that the Fed might tolerate inflation higher than the 2% targeted rate.

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