Home » Open thread 3/11/23

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Open thread 3/11/23 — 34 Comments

  1. Lovely. I would hope that the birds are protected. Mother Nature is beautiful, at times.

    I am wondering about the repercussions of the SVB failure. I heard on FOX Business yesterday that it is an isolated failure. Hope so, but I have no trust in experts anymore. Business that had millions in the bank stand a good chance of getting money back, but how long will it take and what will happen to those companies in the mean time.

  2. I’ve been looking at the SVB thing a little. Many layoffs have been happening in the tech world. I was wondering if it was a bit like how the oil industry’s booms and busts sometime hit communities in Texas impacting everything including real estate.

    But, the detail I’ve heard suggests that it was mainly the abysmal management’s fault. Sounds like depositors with more than $250K are going to take a loss.

  3. What has been claimed before…
    …and what should have been assumed/expected by any thinking person…
    ESPECIALLY because of the response of the Democratic Party and the Special Commission on Jan. 6.
    (“Special”, all right…)

    “Jan. 6 Videos Show Antifa Disguising Selves as Trump Supporters, Trumpers Stopping Vandals”—
    https://pjmedia.com/news-and-politics/catherinesalgado/2023/03/11/jan-6-videos-show-antifa-disguising-selves-as-trump-supporters-trumpers-stopping-vandals-n1677413

    Discuss amongst yerselves…

  4. re SVB…they had a big influx of deposits, and invested much of it in mortgage-backed securities at low interest rates; I believe most of the maturities were around 10 years. When interest rates rose, the prices for which those securities could be sold fell significantly. But depositors wanting their money forces the bank to sell some of these securities at a loss, rather than hold them to maturity.

    Fractional-reserve banking is inherently vulnerable to this kind of thing. And, while I’ve seen people asserting that this is all caused by ‘fiat money’ and the establishment of the Federal Reserve, in actuality, fractional reserve banking goes back to medieval goldsmiths, as do its hazards. The goldsmiths provided a service of holding gold in storage for customers; they realized that customers were unlikely to all demand their gold back at the same time, so they started lending some it out….

  5. Evidently, 44% of their assets were in the form of securities, v. the 26% that is the mean for commercial banks in this country right now. There’s been some suggestion that that their loan portfolio was abnormally concentrated in the tech sector and they’ve been taking losses from defaults of late.

  6. Being called the ‘bank of start-ups’ should have been an obvious danger signal.

  7. Kermitt Gosnell says:

    Governor JB Pritzker
    @GovPritzker
    ·
    22h
    I’m proud to proclaim today as Abortion Provider Appreciation Day in Illinois.

    To the clinic staff and volunteers who help those in need and treat their patients with dignity and compassion: thank you for the critical and lifesaving work you do. #CelebrateAbortionProviders

  8. About the kidnappings and murders that happened to the 4 Americans, in Mexico:

    To begin with, I don’t agree with the actions of the Mexican drug-gang’s doing these kidnappings + murders, or any other crimes that these gangs do, however-
    according to this article from BBCnews, this gang, + other gangs in Mexico, see themselves as 1) an unofficial police force + disaster relief force and 2) they claim they are possibly the only source of protection + justice- for [the needy people in Mexico], and for [the needy people in hard-to-reach places in mexico].

    To be sure- these gangs do a great number of vicious crimes, like: murders, extortion, violent extortion, selling drugs, + acting like “cops, judges, + executioners” against criminals, + suspected criminals + others…that these gangs don’t like.

    However- these gangs tell themselves, + the Mexican public, that these gangs are- similar to Robin Hood + his good-guy men…that these gang members are the [non-criminal, local, do-gooder vigilantes] that help the poor + the needy…and these gangs act like unofficial…local police…in remote places in Mexico + in remote mountain towns in Mexico, that the police can’t get to.

    This article suggests that there are areas in Mexico, + remote towns in Mexico, that the local police, + the Mexican…national police- can’t help, or won’t help- so then the local gangs then step in + act like local, unofficial police or heroes, “to stop the crimes, and to help the needy”, in these remote, or under-served, towns.

    …And then we get to the event of the 4 Americans in Mexico.

    The drug gang that kidnapped these US people, + then killed two of them, claim that- [the gang attacked these 4 US people, [because the Americans were strangers in that town?], + these US people were “mistakenly” seen as- members of a Haitian drug-gang, that the Mexican gang thought these Americans were doing crimes…or planning to do crimes, in this Mexican town or area.

    [Allegedly] when the gang discovered that these people were not from a Haitian gang, they [ let these 4 people go, although 2 of the people were now dead].

    So, it is possible that this tragedy happened, says this article, because a drug gang in Mexico had a habit of-

    pretending that they were “the unofficial local police”, and that these gang members did these kidnappings + two killings, as an attempt to, “help out the local people, because no one else would help them, or be their local cops”.

    I don’t believe the explanation of this kidnapping + murder case, from this gang- but apparently, a lot of gangs in Mexico like to play the role of: [we’re a criminal gang, and we do crimes, but our “helping” the local people…and the poor people, makes up for all of the things that we do].

    I think there are a lot of places in the world, including in Mexico, where it is unsafe for people to do trips to, like these people were taking a trip to a safe place- like Cleveland, Ohio.

    Here is the article:

    https://www.bbc.com/news/world-latin-america-64921765

  9. Think of the cartels like the warlords in post world war one china gulf hired fmr spec ops as security who decided to cut out the middle men these zetas then hired the most ruthless guatemalan operator kaibiles

  10. huxley says, “Aieee! There are gendered verb forms in French.

    Not many, thank Descartes.”

    Just for you: 1) a short video pour te faire rigoler without any gendered verb forms:
    https://www.youtube.com/watch?v=ARqx0IvDyfM&ab_channel=FredLeLouarneBerry-35KG%21

    and 2) more seriously, an article on Descartes’ career as a mercenary soldier during the Thirty Years’ War. National armies as we know them now did not exist before the late seventeenth century, the oldest being the English Army established by Charles II in 1660. During the Thirty Years’ War, men hired themselves out to whichever ruler paid best, and Descartes switched sides more than once. In addition to pay, the war provided Descartes with training in military engineering, which in turn influenced his philosophy. It’s an interesting perspective on the man: https://www.military-history.org/feature/thinkers-at-war-descartes.htm

  11. Merde! What are their English equivalents? I’m trying to surmise the purpose of such a thing.

    Rufus T. Firefly:

    I know of only one case (so far) — when using the participle with être (the verb “to be”):
    _________________________________

    Je suis né. – I was born (I = masculine).
    Je suis née. – I was born (I = feminine).

    Il est né. – He was born.
    Elle est née. – She was born.

    Ils sont nés. – They (masc.) were born.
    Elles sont nées. – They (fem.) were born.

    _________________________________

    However! There is an exception to this rule with the verb “avoir” (to have, which becomes “a” in third person singular present tense) where one uses the gendered participle IF the object comes before the verb.
    _________________________________

    Jean a aimé Mireille. (Jean has loved Mirelle.)
    Jean l’a aimée. (Jean has loved her.)

    _________________________________

    Of course, the beauty of French is that they usually clip the final letter or syllable, so these gendered cases are pronounced identically.

    I’m told one must get used to these things. There seem to be a lot of these things, especially when it comes to gender.

  12. PA+Cat:

    I got about a third of the jokes in the French cat video. Another third I might have gotten if I were given more time, and a third after that I doubt I could have gotten at all, unless allowed to use Google Translate.

    Interesting stuff about Descartes. Jesuit-trained, so who knows. I wouldn’t be surprised if the Jesuits were behind the Davos crowd.

  13. Why should federal employees have to pay taxes, anyway?
    “Federal workers owe $1.5B in back taxes after GOP remedies die under Democrat legislative control”—
    https://justthenews.com/government/congress/federal-workers-owe-15b-back-taxes-after-congress-failed-pass-bills-tackle

    This might be a tremendous opportunity for “Biden” to do “what is right”, i.e., cancel back taxes owed by federal employees in a manner similar to canceling debt owed by students.
    Or at least those for those federal employees who pledge obeisance to the Democratic Party….

  14. huxley:

    “Into the face of the young man who sat on the terrace of the Hotel Magnifique at Cannes there had crept a look of furtive shame, the shifty hangdog look which announces that an Englishman is about to speak French.” P.G. Wodehouse,

    But then you are an American, and no longer a young man.

  15. Open thread Sunday, Ukraine war information warfare session. A Ukrainian’s perspective from Irpin and Bucha. Bucha, was the site of Russian “misbehavior.” Most was discovered after the Russians feinted away from Kyiv, IIRC.

    Warning, this contains images from Bucha of executed civilian dead not obscured, but has warnings before the images are shown. This is not the usual from this web site, her vlog is typically personal commentary on this “awful war with Russia.” Some web sites strongly pitch non-YouTube, subscriber or Patreon alternatives, with graphic content, too gory (?) or violent for YouTube, probably “war porn.”

    IRPIN and BUCHA – One Year After. RUSSIAN CRIMES: War in Ukraine – Anna from Ukraine

    https://www.youtube.com/watch?v=Z5PSxQWHfuY

  16. It looks like: Biden is about to approve, A MAJOR OIL DRILLING PROJECT IN ALASKA.

    But…but (!) President Joe Booshwa, since you became president, you’ve had it as your main religion for two years, that: oil, + gasoline, + fossil fuels, + home-heating fuels, and the like, are YUCKY, YUCKY bad, BAD things(!), and they should never be used by anyone!

    The use and refining- of gas and oil, + other fossil fuels, have just been made, totally OK-OK, in Biden’s view, if this drilling project is approved by the government.

    Whether the US people use [gas + fossil fuels], it totally fine by him, now!

    He says + does whatever he wants- about oil + gas, just to get the public on his side.

    In my town, and its neighboring towns- countless people…and their families…have had to move out of their homes, and into smaller homes, or into other States, because Biden’s gasoline + fossil fuels polices…(which have made gas + fossil fuels prices go through the roof for them), has made them NEED to make the very-hard choice of- “do I keep buying gas + fuel for my car + home, or do I buy enough food to KEEP my family from STARVING?”

    This situation is unbearable.

    Biden’s [oil, gasoline, + other fossil fuels policy] is a travesty, where he is allowed to say to the US, at any time:
    [I can let people have gas + oil, or not…at any time that I want to. Who CARES if my policies as the president- make the prices of: gasoline, house heating fuels, houses, your basic foods, + everything else, get un-affordable to the average, American people? Did the bad economy make you lose your house?…Or make you move away from your family? Too, too bad.]

    This is just horrid.

    President Biden, in my view- the use of gasoline and other fuels are things that are needed by everyday- lower class and middle class Americans…and all Americans, and these fuels are not just things for you to toy with.

    Biden’s actions, on gasoline + [other fossil fuels], are unbelievably destructive to the US economy.

    These actions, which are the unneeded playing with the nation’s fuels industries, are totally unnecessary.

    Here’s the article on Biden’s proposed, oil drilling project, in Alaska:

    https://www.koat.com/article/biden-administration-to-approve-major-alaska-oil-drilling-project-willow/43277490

  17. I tried to change, “Booshwa”, to “Biden”, in my comment- but I guess I didn’t edit my comment in time.
    Oh well.

  18. MIguel:

    Roosia wants Meaning in History. Mustn’t respond to Vlad’s Special Military Operations, escalatory, wouldn’t be prudent, see “Roosia wants,” in case you don’t understand. Because if you give Russia what it wants she is never satisfied. That is the lesson of history.

  19. TR, ‘Booshwa’ could still work fine. Is it some sort of insult in Bengali or something?

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