MARXISM NOW

Via Ben Garrison

QUOTES OF THE DAY

“In a mad world, only the mad are sane.”

Akira Kurosawa

“The fact that millions of people share the same vices does not make these vices virtues, the fact that they share so many errors does not make the errors to be truths, and the fact that millions of people share the same form of mental pathology does not make these people sane.”

Erich Fromm, The Sane Society

A Fun Wip Wondering (I hope)

I love cars. My father and I have shared the love of classic hot rods since I was 10. His whole life he had either a complete or incomplete project car. Everything from Camaros to BMW M series cars.

I wonder what other TBPers have OR wish they had as their dream car. I curious how many TBPers favor classic cars. Please post photos of your car or the car you wish you had. OR BOTH.

Below is my Christmas card for 2018. It is my father’s truck. It’s a pretty badass truck.

How The Bubbles In Stocks And Corporate Bonds Will Burst

Authored by Jesse Colombo via RealInvestmentAdvice.com,

As someone who has been warning heavily about dangerous bubbles in U.S. corporate bonds and stocks, people often ask me how and when I foresee these bubbles bursting. Here’s what I wrote a few months ago:

To put it simply, the U.S. corporate debt bubble will likely burst due to tightening monetary conditions, including rising interest rates. Loose monetary conditions are what created the corporate debt bubble in the first place, so the ending of those conditions will end the corporate debt bubble. Falling corporate bond prices and higher corporate bond yields will cause stock buybacks to come to a screeching halt, which will also pop the stock market bubble, creating a downward spiral. There are extreme consequences from central bank market-meddling and we are about to learn this lesson once again.

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The Broken Clocks’ Minute

Sometimes the reasons you’re wrong turn out to be the reasons you’re right.

Guest post by Robert Gore at Straight Line Logic

Even a broken clock is right twice a day.

Old Wall Street adage

Anyone who has consistently sounded cautionary or outright bearish notes during the last nine years of relentlessly rising equity markets has been cast aside. Wall Street is bipolar. You’re either right or wrong, and wrong doesn’t buy mansions and Maseratis. Like that broken clock, the so-called permabears have had a couple of minutes when they were right, far outweighed by those 1438 minutes when they were wrong.

Or maybe it’s all a matter of perspective, and it’s the last nine years that amounts to two minutes. In geologic time nine years isn’t even a nanosecond. Perhaps even on time periods scaled to human lifetimes and history, the last nine years will come to be seen as an evanescent flash that came and ignominiously went.

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Doug Casey on the Migrant Caravan

Via Casey Research

Justin’s note: Hundreds of migrants have showed up at the U.S.-Mexico border.

They’re part of a “caravan” that includes about 5,000 people from Central America. The rest of the caravan, as far as we know, is still in central Mexico. But make no mistake. They’ll show up at the border any day now.

And no one can agree on what to do with these people. Some say we should just let them into America. Other people, including President Trump, think we should keep the migrants out. In fact, Trump recently called the caravan an “invasion.” Not only that, he deployed thousands of U.S. troops to the border to keep these people from entering.

In short, it’s very controversial. So I called Doug Casey earlier this week to see what he thinks about this…

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Middle Class Destruction: Suicide Rates Soar Among American Workers

Via ZeroHedge

During 2000–2016, suicide rates among American workers (aged 16–64 years) jumped 34%, from 12.9 per 100,000 population to 17.3, according to a newly published report by the Centers for Disease Control and Prevention (CDC).

“Increasing suicide rates in the US are a concerning trend that represents a tragedy for families and communities and impact the American workforce,” said Dr. Debra Houry, director of the CDC National Center for Injury Prevention and Control.

“Knowing who is at greater risk for suicide can help save lives through focused prevention efforts,” Houry said.

With the American workforce declining for decades, only now it this disturbing evidence of the catastrophic damage that has already been done being released.

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California’s Worst Wildfires Must be a Wake-Up Call

Guest Post by Joe Guzzardi

For California natives like me, the wildfires are a real gut punch. As of this writing, the wildfires are the deadliest in the state’s history with 63 fatalities, and more than 600 people are unaccounted for. More than 10,000 buildings are gone, and more than 230,000 acres have burned.

In the now obliterated community of Paradise, several fleeing locals couldn’t outrun the flames and burned to death in their cars. As one survivor said, the scene was “exactly like any apocalyptic movie” she had ever seen. The fires have been devastating for 10,000 horses, house pets and wildlife. Los Angeles County Animal Care & Control said about 700 animals, including 550 horses, nine cows, and at least one tortoise, are now in the agency’s care.

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Who or What Is Really Responsible for the Huge Forest Fires in California?

Guest Post by Bruce Bialosky

Who or What Is Really Responsible for the Huge Forest Fires in California?

Once again, faced with the failure of the “press” to educate us on an issue, we decided to go out and research the truth about what appears to be the significant increase in huge forest fires.  Once we did the research, we found out major differences in facts from the random barkings in the MSM.

Let us start with this simple aspect.  Forest fires are a normal thing.  Often caused by lightning or other natural causes, they are God’s way of clearing forests.  In those natural forest clearances, the wildlife that exists in them are threatened or their habitat is destroyed.  What has changed is mankind’s intervention in the natural process.  The question is, what other factors may be causing the change in the intensity of recent forest fires?

We also came armed with a thought.  If you believe that global warming is making life more challenging for forest management, then you should support proper forest clearance. Otherwise we will be left with even more intense fires.

For this column, other than reading everything available, we went to two sources: our national Forest Service and the Union of Concerned Scientists to get different perspectives.

Speaking with Chris French, the Acting Deputy Chief of Forest Service (FS), we received a primer on what is really going on with forest fires today.

When asked what he believes is the primary cause of the intense forest fires, Mr. French’s immediate response was “Forests are overstocked.  There are more trees than 100 years ago.”  He went on to say that part of the problem was the Forest Service’s good work in the recent past stopping forest fires. This meant, however, that their focus was largely directed away from forest maintenance, which caused the elements that fuel a fire like underbrush, dead trees or more density to occur.  

The changes French would like to see would be more active forest clearance and clearance of the underbrush.   He also wants to do more controlled fires when the risks are minimized.  If you are wondering why they are not doing that now it is because of budget restraints.

What government department does not advocate for additional money in their budget?  In this case, there may truly be rationale.  Because of the good work the FS was doing, they were spending 85% of the budget on forest maintenance and 15% on fire suppression.

Over the recent years as forest fires became more intense, they spent more money on suppression and less on clearance causing a vicious cycle of less money on clearance.  At this point French stated that it was projected that 60% of their budget went toward suppression leaving fewer precious dollars for clearance.  Recent Congressional budget bills have increased the Forest Service budget providing additional funding for clearance, thus hopefully stopping as many fires from happening and less money spent on suppression.

While doing the clearance the Forest Service does, French stated they were controlled by a myriad of federal laws which limit their actions.  These laws include The Clean Air Act, Natural Forest Management Act, Endangered Species Act and National Environmental Policy Act to name a few.  The Forest Service must put information out to the public before they do their clearance work.  They are not always questioned, but quite often interest groups jump in armed with legal briefs to stop the planned work.

Currently there are groups trying to stop certain aspects of the Farm bill from being passed that would enhance the funding for forest clearance because they are against logging even though it is clear much of the land in question has three times the density that it should.

Just a thought:  If you have a concern about destroying the natural habitat and thus limit the proper clearance of the areas in question, what do you say about what happens to the improperly-cleared forest during a major fire when the habitat is destroyed and the animals’ lives are put at risk?

One other point French made was about risks being higher today.  He stated “People are living closer to where the fire dangers are, causing more damage and peril to human lives.”  We asked if this is akin to all the people living in flood plains today.  His response: “Exactly.”

This kind of fire has a catchy new name – urban interface fires.  The Forest Service defines the wildland-urban interface as the place where “homes and wildlands meet or intermingle”. As French described, it’s where “humans and their development meet or intermix with wildland fuel”.  These used to be called fire areas.  I live in one and we have to do special clearance each year to make sure that if a fire starts there will be little fuel to feed the fire.  Where I live has built up for seventy years.  This new situation describes the recent fires in California where people reached further in to these areas to homestead.

What is the government’s responsibility in these cases?  Few would restrict people’s rights to build homes on private property.  Fewer would suggest the authorities should not protect those people from danger if there is a fire, mud slide or their home is washed out in a flood. Many will question whether the government should have any financial risk to help the survivors rebuild in the areas in question. Others would say that just encourages questionable behavior.

While we can all feel sadness for those who have lost their homes in the fires, many have built homes in areas that are inherently dangerous to be “away from the hubbub.”  Their choice; their risk.  To build a home near a forest and not accept the uncertainty of fire verges on insanity.

When dealing with an environmental group today, one anticipates that a focal point will be global warming/climate change.  In fact, the article I pulled from the Union of Concerned Scientists (UCS) website is titled “Is Global Warming Fueling Increases Fire Risks?”  The column is a mix of warnings about how global warming is increasing wildfires and encouragement to do more forest clearance.  I spoke with Rachel Cleetus, lead economist and policy director with the climate and energy program for the UCS.

Ms. Cleetus painted a somewhat different picture.  She also forwarded a 64-page report she personally authored for the UCS on the matter.  She was very aware of the many factors that are involved and echoed many of the same themes that the FS had stated, including the need for a greater budget especially with the extra monies being spent on forest clearance.

Cleetus was unclear whether the organization just supported the procedures that the FS argued for or advocated for them.  She stated that they were not involved in stopping the FS from doing their work like some other interests often do.

But she did state the primary reasons for the increased risk of major fires was because of more people living in the areas and the forest management (or lack thereof) being done.

Whether you believe in global warming/climate change or not, it is quite clear that the forest service needs to get a handle on proper forest management to lessen the risks of major forest fires.  The only way they can do that right now is to throw more resources at the problem to stop the downward spiral of clearance necessary to halt/minimize the risk of major fires.

Certainly, the federal/state governments need to make clear that they will not assume any liability for financial loss if anyone lives is in a fire zone.  Citizens need to evaluate whether the joy of being in these areas is worth the exposure to their belongings and possibly their lives.

One thing we know for sure is that the wild charges made by some that this is all due to change in environmental factors is wrong.  Though the UCS is vested in the issue of climate change, they support that there are other factors as proposed by the FS.

Climate change/global warming is not the answer to everything on our planet.

Footnote: We would be remiss if we did not thank the brave people who fight these wildfires for all of us. God bless them.

Racist Note Left On Kansas Student’s Door… Was Written By Himself

Via ZeroHedge

Kansas State University students were horrified after a student posted a picture of a racist note on the door frame of his home at Jardine Apartments. The note read, “Beware n***ers live here! Knock at your own risk.”

https://www.zerohedge.com/sites/default/files/inline-images/racial%2Bnote1.jpg?itok=nY600a9U

Immediately the calls went out (metaphorically speaking) to track down any Trump-supporters, MAGA-hat-wearers, or generally right-leaning members of the student community who MUST have been guilty of this horrible act.

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THIS DAY IN HISTORY – Mass suicide at Jonestown – 1978

Via History.com

On this day in 1978, Peoples Temple founder Jim Jones leads hundreds of his followers in a mass murder-suicide at their agricultural commune in a remote part of the South American nation of Guyana. Many of Jones’ followers willingly ingested a poison-laced punch while others were forced to do so at gunpoint. The final death toll at Jonestown that day was 909; a third of those who perished were children.

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