Tuesday, April 16, 2024

"Being Poor Ain't Cheap"

"Being Poor Ain't Cheap"
by Joshua Wilkey

"Poor people are cash cows. It makes no sense, really. One would think that poor people, by virtue of being poor, would not be profitable customers. However, for many large corporations that target the poor and working poor, there's big money to be made on the backs of those who have no money.
At Dollar General Store locations, customers can get cash back on their purchases. This is not novel. In fact, most all retailers these days offer this option. Soccer moms get cash back so they can have lunch money for their children. Restaurant patrons can get money back to leave a cash tip for their servers. I sometimes get cash back at the grocery store so I can buy Girl Scouts cookies on the way out. It's a simple process. Click "yes" when the little screen asks for cash back, tap the $20 icon, and the cashier hands you some bucks along with your receipt. We've all done it. For those who are poor and those of us who are not but who have limited retail options, however, there's often a sinister catch.

I noticed this a few years ago, first at Dollar Tree, then at Dollar General. There's a little asterisk after the standard "would you like cash back?" prompt. The footnote indicates that "a transaction fee may apply." The transaction fee is usually $1 no matter the amount of cash back. If one opts to get $10 cash back, one is charged a dollar. That's a ten percent fee, for a service that costs the retailer nothing. It's just another way for retailers like Dollar General to make a profit off of their customers, many of whom are very often living below the poverty line.

If an organic grocer or movie theater were charging a fee of this sort, I would likely be annoyed by it, but I wouldn't be so annoyed that I would write about it. However, the poorest members of our communities do not shop at Whole Foods, and they do not often get a chance to go see the latest blockbuster at the theater. They can afford neither. In fact, they likely do not have either organic grocers or first-run theaters in their neighborhoods. Instead, they have Dollar General. Dollar General's stores grow like kudzo in rural America. Even if there isn't a real grocery store in most tiny communities, there's probably a DG.

These ridiculous transaction fees are but one example of how corporations make billions of dollars by taking advantage of socioeconomically disadvantaged customers with few options. There are many other examples, though, and politicians continue to allow it at the expense of their poorest and most marginalized constituents.
Payday lending is one of the most sinister ways that large corporations exploit poor people. For those who are not familiar, payday lending goes something like this: People who are running short on money but who have a verified record of regular income (whether it be Social Security, SSI, payroll, etc.) are able to go to payday lenders and receive a cash loan to be repaid on payday. Often, borrowers are unable to repay their full loan balances and simply “roll over” their loan until a future payday, accruing all sorts of fees and additional interest. The annualized interest rate on these loans is often in the triple digits. Yes, that’s right. Sometimes the annual interest rate is over one hundred percent.

In defense of this practice, many payday lenders and their high-dollar lobbyists argue that they are simply offering a service to poor borrowers that said borrowers cannot obtain anywhere else. This is partially true. The poorest members of society have no access to traditional forms of credit. Some even lack access to checking accounts because of low credit scores or a history of financial missteps.

I know some people who make occasional use of payday lending because they genuinely have emergencies arise that they could not address without a short-term infusion of cash. I also know people, including members of my own family, who have been riding the high-interest payday loan merry-go-round for years, and who have paid thousands more back than they have borrowed yet still owe more. In debating the role of payday lending in our communities, it is essential that we take a nuanced approach. Some form of short-term credit is necessary for those mired in poverty. However, it is flat-out immoral that we regulate payday lending so loosely in many places that people end up feeling crushed under the weight of small high-interest loans that they have no hope of ever repaying. Taking out a $1,000 payday loan should not mean a person becomes tied to tens of thousands of dollars in debt.
Another egregious example of corporations exploiting the poor is rent-to-own retailing. Companies like Aaron’s and Rent-a-Center purport to offer a valuable service for the poor. Because those at the bottom of the socioeconomic spectrum are seldom able to save for big-ticket items like appliances or furniture, these retailers offer a pay-by-the-month scheme that often requires no credit check and no money down. The result is that customers pay as much as three times the retail price of the item, assuming they are able to make payments until the item is paid for. When they are not able to maintain the payments, the retailers simply show up to repossess the items.

Like payday lenders, rent-to-own retailers argue that they provide a valuable service to poor consumers. However, many observers, myself included, conclude that some rent-to-own practices are ethically questionable and tend to target vulnerable consumers who need immediate access to essentials like appliances and bedding. In many states, companies are not required to disclose the final price of the items. Instead, they simply tell customers the amount of the monthly or weekly payments. Because companies call the arrangement "rent-to-own," in many places they are not required to disclose the amount of "interest" customers will pay because it technically isn't interest. When consumers can no longer afford the payments and have to return the item, they often get no credit for payments they have made even if they have paid substantially more than the item is worth. Many customers never realize that they are paying as much as three times the retail price for their items. Those who do realize it likely have no choice apart from going without a bed or refrigerator.

In some instances, state attorneys general have successfully sued major rent-to-own retailers for violating usury and consumer protection laws. However, because these retailers are covered generally by state laws rather than by federal laws, there exists a hit-and-miss patchwork of regulations. Some consumers enjoy greater protections than others. The only determining factor is their location. Those states with more corporation-friendly attorneys general are unlikely to see any activity that might force retailers to behave more ethically toward their customers, because such enforcements will result in a drop in profitability for the retailers. Many major corporations spend good money to be sure that politicians protect their interests rather than the interests of consumers. Rent-to-own retailers and payday lenders are no exception. The poor, of course, can’t afford lobbyists or political contributions.

There are some who will argue that the free market, not the federal government, is the best solution to corporations that exploit the poor. However, those at the bottom of the socioeconomic spectrum, especially the rural poor, do not live in anything resembling a free market. Also, it is important that we label the behavior of rent-to-own companies and payday lenders as what it is: exploitation.

In the hills of Appalachia, poverty is often the rule rather than the exception. One of the most poverty-stricken ZIP codes in the United States is Manchester, Kentucky. Manchester is located in Clay County, which has a population of just over 20,000 people. According to the most recent US Census data available, the per-capita income average between 2011 and 2015 was just $13,802 (less than half the national average) and 46% of the population lives below the poverty line. In Manchester, Rent-a-Center is often the go-to option for poor people looking to buy appliances or furniture. The county has a Walmart, but the nearest discount appliance and furniture dealers are miles away, too far for many to drive. There are some locally-owned options, but few in Clay County are able to pay cash for major purchases given the high rate of poverty and the low rate of employment.

In addition to the rent-to-own retailers, Clay County also has no less than five payday lenders, but only two traditional banks. Conveniently, the primary shopping center in Manchester currently houses a Dollar General, a Rent-a-Center, and two payday lending branches, all within feet of one another.

In places like Manchester, rent-to-own and payday lending outfits thrive. They do so often to the detriment of the poor folks who frequent their businesses. Those promoting the so-called free market approach might argue that customers are not forced to do business with these types of companies. However, given their dire financial circumstances and lack of available options, poor people in Manchester have little choice. They are excluded from participating in the wider world of commerce, often because of forces beyond their own control.

Manchester is not a rare exception. Particularly in central Appalachia, rent-to-own retailers are often the only option for poor people, and payday lenders outnumber banks by large measure. In addition to being food deserts, many poverty-stricken communities are retail deserts. In the most isolated rural areas in Appalachia, Dollar General is one of the only available retail options. Within ten miles of our house in rural Jackson County, NC, there are four Dollar General stores, and our community isn't even particularly isolated. Dollar General is the closest store to our home, and my wife and I tend to shop there by default because it is either that or a ten minute drive to the closest grocery store, or worse, a twenty minute drive into town. While we have the resources to go to town any time we want, many of our neighbors do not. The folks in the trailer park down the road often walk to Dollar General because they have few other options. This does not seem much like a free market driven by competition. Therefore, "free market" solutions simply do not work here.

Dollar General is, I believe, fully aware of the demographics of their shoppers. They know that there are often few ATMs near their locations, and their customers often lack access to traditional banking anyway and end up paying fees of three or four dollars to access their money at ATMs. Especially for people who depend on Social Security or SSI for their income, access to money is an important issue. Dollar General and similar retailers, it seems, understand this. Their solution is not to offer a resource for their customers but to profit from their customers’ limited access to funds. It's cheaper than an ATM, but it's a fee more affluent shoppers never have to think about. While there is nothing illegal about this, it is certainly morally questionable.

That’s the thing about the so-called free market. It makes no accounting for moral right or wrong. That, free market proponents allege, is up to the consumers. Poor consumers, however, still need to eat. They still need ovens and beds. Consumer choice and self-advocacy is often, like so many forms of social or political action, a full-stomach endeavor. When one is hungry, one’s ability to be an activist is diminished. When poor people have no choice but to do business with the greedy companies who reap a hefty profit from their customers' lack of options, those drawing the short straw simply do what they must to survive. Surviving is what poor people do best, and it makes for a miserable life. I know, because I have been there.

When poor people have little option but to do business with discount retailers who charge cash-back fees, rent-to-own retailers who charge inflated prices, and payday lenders who mire their customers neck-deep in impossible-to-pay-back high-interest loans, they are even less likely to ever escape poverty. The stark reality is that poor people often pay substantially more for essentials – bedding, appliances, housing – than would those of us with means. If my wife and I needed a new washer, we'd shop around for the best deal and go buy it. In fact, we might even buy it from Amazon Prime and get free two-day shipping. When my mother, who lived her entire life in poverty, needed a new washer, she was forced to buy one from a rent-to-own outfit that charged her an outrageous delivery fee and hassled her every time she was even a few hours late on a payment. She probably ended up paying $2,000 for a $450 washer. The poor do not have access to Amazon Prime like the rest of us because they can't afford a hundred bucks a year to subscribe. They do not get free delivery and obscenely low prices. They get fleeced.

The limited options available to those in poverty are rarely considered by the political ideologues who are so prone to victim-blaming. These retailers, who are all too often protected by state and federal lawmakers from both parties, package their predatory tactics as opportunities. What they are really selling are tickets on yet another segment of the poverty train. The politicians who protect them should be deprived of options and see just how much more expensive it is to survive. They should be ashamed for protecting those who profit from poverty, and those of us who know about it and have the resources to fight back should be ashamed for letting it happen to our neighbors."

"How It Really Is"

 
And closing 1,000 of them...

"Wars, And Rumors of War: The Middle East"

Full screen recommended.
Hindustan Times, 4/16/24
"Tehran's Most Dangerous Threat To Israel;
'Smallest Action Against Iran Will Result In...'
"The Iranian President held talks with Qatar's Emir amid a boiling conflict with Israel. Ebrahim Raisi and Sheikh Tamim Bin Hamad Al Thani had a long conversation over the phone. During the dialogue, Ebrahim Raisi warned that the slightest action against Iran’s interests would be met with an “extensive and painful response.” Raisi stated that Iran will respond to any aggression of any size and form. Doha has extended its full support to Iran after the mega-strikes on Israel."
Comments here:
o
Full screen recommended.
Vantage with Palki Sharma, 4/16/24
"How Will Iran Respond to an Israeli Attack?"
"Israeli military officers have said that they will hit back at Iran for Saturday's drone and missile attack, but have not mentioned when or how the response will unfold. This claim has put the focus on Iran's options if Israel does carry out a direct attack on Iranian soil. In public, Iranian officials have threatened a "quick and severe" response if Israel decides to escalate tensions. What does Iran's security apparatus look like? Which armed group or wing could lead Iran's response? What are Iran's options if Israel decides to hit back? And what role will Iran's supreme leader play in taking this decision? Palki Sharma tells you."
Comments here:
o
Full screen recommended.
Scott Ritter, 4/16/24
"Israel To Respond to Iran’s 1st-ever Direct 
Attack Within Next 48 Hours, US Join?"
Comments here:
o
Full screen recommended.
Redacted, 4/16/24
"High Alert! WW3 Emergency As World Waits;
 Ukraine Furious At U.S."
"The world is watching as the Middle East descends into chaos. Ukraine is furious at the U.S. over aid to Israel. House Speaker Mike Johnson was just asked to resign over FISA, Ukraine, and more. Canadian hate science is coming to the U.S." 
Comments here:

"We All Know..."

“We all know that something is eternal. And it ain’t houses and it ain’t names, and it ain’t earth, and it ain’t even the stars… everybody knows in their bones that something is eternal, and that something has to do with human beings. All the greatest people ever lived have been telling us that for five thousand years and yet you’d be surprised how people are always losing hold of it. There’s something way down deep that’s eternal about every human being.”
- Thornton Wilder
“I believe that imagination is stronger than knowledge.
That myth is more potent than history.
I believe that dreams are more powerful than facts.
That hope always triumphs over experience.
That laughter is the only cure for grief.
And I believe that love is stronger than death.”
- Robert Fulghum
“For Those Who Have Died”
“Eleh Ezkerah” (“These We Remember”)

“Tis a fearful thing
To love
What death can touch.
To love, to hope, to dream,
And oh, to lose.
A thing for fools, this,
Love,
But a holy thing,
To love what death can touch.
For your life has lived in me;
Your laugh once lifted me;
Your word was a gift to me.
To remember this brings painful joy.
Tis a human thing, love,
A holy thing,
To love
What death can touch.”
- Chaim Stern
Graphic: “Into The Silent Land”,
by Henry Pegram, 1905
“We are travelers on a cosmic journey, stardust, swirling and dancing in the eddies and whirlpools of Infinity. Life is Eternal. We have stopped for a moment to encounter each other, to meet, to love, to share. This is a precious moment. It is a little parenthesis in Eternity.”
- Paulo Coelho
“Don't cry because it's over, smile because it happened.”
- Dr. Seuss
And we shall meet again…
Full screen recommended.
Moody Blues, “The Day We Meet Again”

Dan, I Allegedly, "Is Tesla Going Out of Business? Massive Layoffs"

Full screen recommended.
Dan, I Allegedly, AM 4/16/24
"Is Tesla Going Out of Business? Massive Layoffs"
"We got notification that Elon Musk is laying off 10% of the staff at Tesla.
 Is this the beginning of the end for the EV car business?"
Comments here:

Adventures With Danno, These Prices On Groceries Are Getting Unaffordable!"

Full screen recommended.
Adventures With Danno, AM 4/16/24
"My Frustrating Trip To Meijer! 
These Prices On Groceries Are Getting Unaffordable!"
"In today's vlog, we are at Meijer and are having a frustrating 
experience as even sale prices are starting to become unaffordable!"
Comments here:

Monday, April 15, 2024

Canadian Prepper, "Emergency Alert! Embassies Closed, Flights Stopped; 'New Weapon'"

Full screen recommended.
Canadian Prepper, 4/15/24
"Emergency Alert! Embassies Closed, 
Flights Stopped; 'New Weapon'"
Comments here:

"Iran Strike On Israel a Massive Success"

Full screen recommended.
Richard Medhurst, 4/15/24
"Iran Strike On Israel a Massive Success"
Comments here:

"Scott Ritter: As An American I'm Scared Over What's About To Happen"

Full screen recommended.
Redacted News, 4/15/24
"Scott Ritter: As An American I'm 
Scared Over What's About To Happen"
Comments here:

Jeremiah Babe, "The Economy Is Horrific, Millions Now Feel Financial Strain"

Jeremiah Babe, 4/15/24
"The Economy Is Horrific, Millions Now Feel Financial Strain
People Losing Their Homes Is Not Funny"
Comments here:

Musical Interlude: Liquid Mind, "Velvet Morning"

Full screen recommended.
Liquid Mind, "Velvet Morning"
Liquid Mind ® is the name used by Los Angeles composer and producer
Chuck Wild of the best-selling Liquid Mind relaxation music albums.

"A Look to the Heavens"

"To some, it looks like a giant chicken running across the sky. To others, it looks like a gaseous nebula where star formation takes place. Cataloged as IC 2944, the Running Chicken Nebula spans about 100 light years and lies about 6,000 light years away toward the constellation of the Centaur (Centaurus).
The featured image, shown in scientifically assigned colors, was captured recently in a 12-hour exposure. The star cluster Collinder 249 is visible embedded in the nebula's glowing gas. Although difficult to discern here, several dark molecular clouds with distinct shapes can be found inside the nebula."

Carl Sagan, “Humility”

Full screen recommended.
Carl Sagan, “Humility”

"Doug Casey on the End of Western Civilization"

"Doug Casey on the End of Western Civilization"
by International Man

"International Man: The decline of Western Civilization is on a lot of people’s minds. Let’s talk about this trend.

Doug Casey: Western Civilization has its origins in ancient Greece. It’s unique among the world’s civilizations in putting the individual - as opposed to the collective - in a central position. It enshrined logic and rational thought - as opposed to mysticism and superstition - as the way to deal with the world. It’s because of this that we have science, technology, great literature and art, capitalism, personal freedom, the concept of progress, and much, much more. In fact, almost everything worth having in the material world is due to Western Civilization.

Ayn Rand once said "East minus West equals zero." I think she went a bit too far, as a rhetorical device, but she was essentially right. When you look at what the world’s other civilizations have brought to the party, at least over the last 2,500 years, it’s trivial. I lived in the Orient for years. There are many things I love about it - martial arts, yoga, and the cuisine among them. But all the progress they’ve made is due to adopting the fruits of the West.

International Man: There are so many things degrading Western Civilization. Where do we begin?

Doug Casey: It’s been said, correctly, that a civilization always collapses from within. World War 1, in 1914, signaled the start of the long collapse of Western Civilization. Of course, termites were already eating away at the foundations, with the writings of people like Jean-Jacques Rousseau and Karl Marx. It’s been on an accelerating downward path ever since, even though technology and science have been improving at a quantum pace. They are, however, like delayed action flywheels, operating on stored energy and accumulated capital. Without capital, intellectual freedom, and entrepreneurialism, science and technology will slow down. I’m optimistic we’ll make it to Kurzweil’s Singularity, but there are no guarantees.

Things also changed with the creation of the Federal Reserve in 1913. Before that, the US used gold coinage for money. "The dollar" was just a name for 1/20th of an ounce of gold. That is what the dollar was. Paper dollars were just receipts for gold on deposit in the Treasury. The income tax, enacted the same year, threw more sand in the gears of civilization. The world was much freer before the events of 1913 and 1914, which acted to put the State at the center of everything.

The Fed and the income tax are both disastrous and unnecessary things, enemies of the common man in every way. Unfortunately, people have come to believe they’re fixtures in the cosmic firmament. They’re the main reasons - there are many other reasons, though, unfortunately - why the average American’s standard of living has been dropping since the early 1970s. In fact, were it not for these things, and the immense amount of capital destroyed during the numerous wars of the last 100 years, I expect we’d have already colonized the moon and Mars. Among many other things.

But I want to re-emphasize that the science, the technology, and all the wonderful toys we have are not the essence of Western Civilization. They’re consequences of individualism, capitalism, rational thought, and personal freedom. It’s critical not to confuse cause and effect.

International Man: You mentioned that the average American’s standard of living has dropped since the early 1970s. This is directly related to the US government abandoning the dollar’s last link to gold in 1971. Since then, the Federal Reserve has been able to debase the US dollar without limit. I think the dollar’s transformation into a purely fiat currency has eroded the rule of law and morality in the US. It’s similar to what happened in the Roman Empire after it started debasing its currency. What do you think, Doug?

Doug Casey: All the world’s governments and central banks share a common philosophy, which drives these policies. They believe that you create economic activity by stimulating demand, and you stimulate demand by printing money. And, of course, it’s true, in a way. Roughly the same way a counterfeiter can stimulate a local economy.

Unfortunately, they ignore that, and completely ignore that the way a person or a society becomes wealthy is by producing more than they consume and saving the difference. That difference, savings, is how you create capital. Without capital you’re reduced to subsistence, scratching at the earth with a stick. These people think that by inflating - which is to say destroying - the currency, they can create prosperity. But what they’re really doing, is destroying capital: When you destroy the value of the currency, that discourages people from saving it. And when people don’t save, they can’t build capital, and the vicious cycle goes on.

This is destructive for civilization itself, in both the long term and the short term. The more paper money, the more credit, they create, the more society focuses on finance, as opposed to production. It’s why there are many times more people studying finance than science. The focus is increasingly on speculation, not production. Financial engineering, not mechanical, electrical, or chemical engineering. And lots of laws and regulations to keep the unstable structure from collapsing.

What keeps a truly civil society together isn’t laws, regulations, and police. It’s peer pressure, social opprobrium, moral approbation, and your reputation. These are the four elements that keep things together. Western Civilization is built on voluntarism. But, as the State grows, that’s being replaced by coercion in every aspect of society. There are regulations on the most obscure areas of life. As Harvey Silverglate pointed out in his book, the average American commits three felonies a day. Whether he’s caught and prosecuted is a subject of luck and the arbitrary will of some functionary. That’s antithetical to the core values of Western Civilization.

International Man: Speaking of ancient civilizations like Rome, interest rates are just coming off the the lowest levels they’ve been in 5,000 years of recorded history. Trillions of dollars’ worth of government bonds trade at negative yields. Of course, this couldn’t happen in a free market. It’s only possible because of central bank manipulation. How will artificially low interest rates affect the collapse of Western Civilization?

Doug Casey: It’s really, really serious. I previously thought it was metaphysically impossible to have negative interest rates but, in the Bizarro World central banks have created, it’s happened.

Negative interest rates discourage saving. Once again, saving is what builds capital. Without capital you wind up as an empty shell - Rome in 450 A.D., or Detroit today - lots of wonderful but empty buildings and no economic activity. Worse, it forces people to desperately put their money in all manner of idiotic speculations in an effort to stay ahead of inflation. They wind up chasing the bubbles the funny money creates.

Let me re-emphasize something: in order for science and technology to advance you need capital. Where does capital come from? It comes from people producing more than they consume and saving the difference. Debt, on the other hand, means you’re living above your means. You’re either consuming the capital others have saved, or you’re mortgaging your future.

Zero and negative interest rate policies, and the creation of money out of nowhere, are actually destructive of civilization itself. It makes the average guy feel that he’s not in control of his own destiny. He starts believing that the State, or luck, or Allah will provide for him. That attitude is typical of people from backward parts of the world - not Western Civilization.

International Man: What does it say about the economy and society that people work so hard to interpret what officials from the Federal Reserve and other central banks say?

Doug Casey: It’s a shameful waste of time. They remind me of primitives seeking the counsel of witch doctors. One hundred years ago, the richest people in the country - the Rockefellers, the Carnegies, and such - made their money creating industries that actually made stuff. Now, the richest people in the country just shuffle money around. They get rich because they’re close to the government and the hydrant of currency materialized by the Federal Reserve. I’d say it’s a sign that society in the US has become quite degraded.

The world revolves much less around actual production, but around guessing the direction of financial markets. Negative interest rates are creating bubbles, and will eventually result in an economic collapse.

International Man: Negative interest rates are essentially a tax on savings. A lot of people would rather pull their money out of the bank and stuff it under a mattress than suffer that sting. The economic central planners know this. It’s why they’re using negative interest rates to ramp up the War on Cash - the push to eliminate paper currency and create a cashless society.

The banking system is very fragile. Banks don’t hold much paper cash. It’s mostly digital bytes on a computer. If people start withdrawing paper money en masse, it won’t take much to bring the whole system down. Their solution is to make accessing cash harder, and in some cases, illegal. That’s why the economic witch doctors at Harvard are pounding the table to get rid of the $100 bill. Take France, for example. It’s now illegal to make cash transactions over €1,000 without documenting them properly.

Negative interest rates have turbocharged the War on Cash. If the central planners win this war, it would be the final deathblow to financial privacy. How does this all relate to the collapse of Western Civilization?

Doug Casey: I believe the next step in their idiotic plan is to abolish cash. Decades ago they got rid of gold coinage, which used to circulate day to day in people’s pockets. Then they got rid of silver coinage. Now, they’re planning to get rid of cash altogether. So you won’t even have euros or dollars or pounds in your wallet anymore, or if you do, it will only be very small denominations. Everything else is going to have to be done through electronic payment processing.

This is a huge disaster for the average person: absolutely everything that you buy or sell, other than perhaps a candy bar or a hamburger, is going to have to go through the banking system. Thus, the government will be able to monitor every transaction and payment. Financial privacy, even what’s left of it today, will literally cease to exist.

Privacy is one of the big differences between a civilized society and a primitive society. In a primitive society, in your little dirt hut village, anybody can look through your window or pull back the flap on your tent. You have no privacy. Everybody can hear everything; see anything. This was one of the marvelous things about Western Civilization - privacy was valued, and respected. But that concept, like so many others, is on its way out…

International Man: You’ve mentioned before that language and words provide important clues to the collapse of Western Civilization. How so?

Doug Casey: Many of the words you hear, especially on television and other media, are confused, conflated, or completely misused. Many recent changes in the way words are used are corrupting the language. As George Orwell liked to point out, to control language is to control thought. The corruption of language is adding to the corruption of civilization itself. This is not a trivial factor in the degradation of Western Civilization.

Words - their exact meanings, and how they’re used are critically important. If you don’t mean what you say and say what you mean, then it’s impossible to communicate accurately. Forget about transmitting philosophical concepts.

Take for example shareholders and stakeholders. We all know that a shareholder actually owns a share in a company, but have you noticed that over the last generation shareholders have become less important than stakeholders? Even though stakeholders are just hangers-on, employees, or people who are looking to get in on a shakedown. But everybody slavishly acknowledges, "Yes, we’ve got to look out for the stakeholders." Where did that concept come from? It’s a recent creation, but Boobus americanus seems to think it was carved in stone at the country’s founding.

We’re told to protect them, as if they were a valuable and endangered species. I say, "A pox upon stakeholders." If they want a vote in what a company does, then they ought to become shareholders. Stakeholders are a class of being created out of nothing by Cultural Marxists for the purpose of shaking down shareholders."

Editor’s Note: This is going to be the most turbulent decade in US history…The 2020s ​will be more ​dangerous than the 1930s, the 1940s, and even the 1860s. That's because severe crises are brewing on multiple fronts and converging. The whole system will have a complete reset, and soon. It could be the BIGGEST thing since the founding of the USA."

"The Future..."

 

Scott Ritter, "The Missiles of April"

Judge Napolitano - Judging Freedom, 4/15/24
"Scott Ritter: The Missiles of April"
Comments here:

"Iran’s retaliatory attack on Israel will go down in history as one of the greatest victories of this century. I’ve been writing about Iran for more than two decades. In 2005, I made a trip to Iran to ascertain the “ground truth” about that nation, a truth which I then incorporated into a book, Target Iran, laying out the US-Israeli collaboration to craft a justification for a military attack on Iran designed to bring down its theocratic government. I followed this book up with another, Dealbreaker, in 2018, which brought this US-Israeli effort up to date.

Back in November 2006, in an address to Columbia University’s School of International Relations, I underscored that the United States would never abandon my “good friend” Israel until, of course, we did. What could precipitate such an action, I asked? I noted that Israel was a nation drunk of hubris and power, and unless the United States could find a way to remove the keys from the ignition of the bus Israel was navigating toward the abyss, we would not join Israel in its lemming-like suicidal journey.

The next year, in 2007, during an address to the American Jewish Committee, I pointed out that my criticism of Israel (which many in the audience took strong umbrage against) came from a place of concern for Israel’s future. I underscored the reality that I had spent the better part of a decade trying to protect Israel from Iraqi missiles, both during my service in Desert Storm, where I played a role in the counter-SCUD missile campaign, and as a United Nations weapons inspector, where I worked with Israeli intelligence to make sure Iraq’s SCUD missiles were eliminated.

“The last thing I want to see,” I told the crowd, “is a scenario where Iranian missiles were impacting on the soil of Israel. But unless Israel changes course, this is the inevitable outcome of a policy driven more by arrogance than common sense.”

On the night of 13-14 April 2024, my concerns were played out live before an international audience - Iranian missiles rained down on Israel, and there was nothing Israel could do to stop them. As had been the case a little more than 33 years prior, when Iraqi SCUD missiles overcame US and Israeli Patriot missile defenses to strike Israel dozens of times over the course of a month and a half, Iranian missiles, integrated into a plan of attack which was designed to overwhelm Israeli missile defense systems, struck designated targets inside Israel with impunity.

Despite having employed an extensive integrated anti-missile defense system comprised of the so-called “Iron Dome” system, US-made Patriot missile batteries, and the Arrow and David’s Sling missile interceptors, along with US, British, and Israeli aircraft, and US and French shipborne anti-missile defenses, well over a dozen Iranian missiles struck heavily-protected Israeli airfields and air defense installations.

The Iranian missile attack on Israel did not come out of the blue, so to speak, but rather was retaliation for an April 1 Israeli attack on the Iranian consulate building, in Damascus, Syria, that killed several senior Iranian military commanders. While Israel has carried out attacks against Iranian personnel inside Syria in the past, the April 1 strike differed by not only killing very senior Iranian personnel, but by striking what was legally speaking sovereign Iranian territory - the Iranian consulate.

From an Iranian perspective, the attack on the consulate was a redline which, if not retaliated against, would erase any notion of deterrence, opening the door for even more brazen Israeli military action, up to and including direct attacks on Iran. Weighing against retaliation, however, were a complex web of interwoven policy objectives which would probably be mooted by the kind of large-scale conflict between Israel and Iran that could be precipitated by any meaningful Iranian retaliatory strike on Israel.

First and foremost, Iran has been engaged in a strategic policy premised on a pivot away from Europe and the United States, and toward Russia, China, and the Eurasian landmass. This shift has been driven by Iran’s frustration over the US-driven policy of economic sanctions, and the inability and/or unwillingness on the part of the collective West to find a path forward that would see these sanctions lifted. The failure of the Iranian nuclear deal (the Joint Comprehensive Plan of Action, or JCPOA) to produce the kind of economic opportunities that had been promised at its signing has been a major driver behind this Iranian eastward pivot. In its stead, Iran has joined both the Shanghai Cooperation Organization (SCO) and the BRICS forum and has directed its diplomatic energies into seeing Iran thoroughly and productively integrated into both groups. A general war with Israel would play havoc on these efforts.

Secondly, but no less important in the overall geopolitical equation for Iran, is the ongoing conflict in Gaza. This is a game-changing event, where Israel is facing strategic defeat at the hands of Hamas and its regional allies, including the Iranian-led axis of resistance. For the first time ever, the issue of Palestinian statehood has been taken up by a global audience. This cause is further facilitated by the fact that the Israeli government of Benjamin Netanyahu, formed from a political coalition which is vehemently opposed to any notion of Palestinian statehood, finds itself in danger of collapse as a direct result of the consequences accrued from the Hamas attack of October 7, 2023, and the subsequent failure of Israel to defeat Hamas militarily or politically. Israel is likewise hampered by the actions of Hezbollah, which has held Israel in check along its northern border with Lebanon, and non-state actors such as the pro-Iranian Iraqi militias and the Houthi of Yemen which have attacked Israel directly and, in the case of the Houthi, indirectly, shutting down critical sea lines of communication which have the result of strangling the Israeli economy.

But it is Israel that has done the most damage to itself, carrying out a genocidal policy of retribution against the civilian population of Gaza. The Israeli actions in Gaza are the living manifestation of the very hubris and power-driven policies I warned about back in 2006-2007. Then, I said that the US would not be willing to be a passenger in a policy bus driven by Israel that would take us off the cliff of an unwinnable war with Iran.

Through its criminal behavior toward the Palestinian civilians in Gaza, Israel has lost the support of much of the world, putting the United States in a position where it will see its already-tarnished reputation irreparably damaged, at a time when the world is transitioning from a period of American-dominated singularity to a BRICS-driven multipolarity, and the US needs to retain as much clout in the so-called “global south” as possible.

The US has tried - unsuccessfully - to take the keys out of the ignition of Netanyahu’s suicide bus ride. Faced with extreme reticence on the part of the Israeli government when it comes to altering its policy on Hamas and Gaza, the administration of President Joe Biden has begun to distance itself from the policies of Netanyahu and has put Israel on notice that there would be consequences for its refusal to alter its actions in Gaza to take US concerns into account.

Any Iranian retaliation against Israel would need to navigate these extremely complicated policy waters, enabling Iran to impose a viable deterrence posture designed to prevent future Israeli attacks while making sure that neither its policy objectives regarding a geopolitical pivot to the east, nor the elevation of the cause of Palestinian statehood on the global stage, were sidetracked.

The Iranian attack on Israel appears to have successfully maneuvered through these rocky policy shoals. It did so first and foremost by keeping the United States out of the fight. Yes, the United States participated in the defense of Israel, helping shoot down scores of Iranian drones and missiles. This engagement was to the benefit of Iran, since it only reinforced the fact that there was no combination of missile defense capability that could, in the end, prevent Iranian missiles from hitting their designated targets.

The targets Iran struck - two air bases in the Negev desert from which aircraft used in the April 1 attack on the Iranian consulate had been launched, along with several Israeli air defense sites - were directly related to the points Iran was trying to make in establishing the scope and scale of its deterrence policy. First, that the Iranian actions were justified under Article 51 of the UN Charter - Iran retaliated against those targets in Israel directly related to the Israeli attack on Iran, and second, that Israeli air defense sites were vulnerable to Iranian attack. The combined impact of these two factors is that all of Israel was vulnerable to being struck by Iran at any time, and that there was nothing Israel or its allies could do to stop such an attack.

This message resonated not only in the halls of power in Tel Aviv, but also in Washington, DC, where US policy makers were confronted with the uncomfortable truth that if the US were to act in concert with Israel to either participate in or facilitate an Israeli retaliation, then US military facilities throughout the Middle East would be subjected to Iranian attacks that the US would be powerless to stop.

This is why the Iranians placed so much emphasis on keeping the US out of the conflict, and why the Biden administration was so anxious to make sure that both Iran and Israel understood that the US would not participate in any Israeli retaliatory strike against Iran.

The “Missiles of April” represent a sea-change moment in Middle Eastern geopolitics - the establishment of Iranian deterrence that impacts both Israel and the United States. While emotions in Tel Aviv, especially among the more radical conservatives of the Israeli government, run high, and the threat of an Israeli retaliation against Iran cannot be completely discounted, the fact is the underlying policy objective of Israeli Prime Minister Benjamin Netanyahu over the course of the past 30-plus years, namely to drag the US into a war with Iran, has been put into checkmate by Iran.

Moreover, Iran has been able to accomplish this without either disrupting its strategic pivot to the east or undermining the cause of Palestinian statehood. “Operation True Promise,” as Iran named its retaliatory attack on Israel, will go down in history as one of the most important military victories in the history of modern Iran, keeping in mind that war is but an extension of politics by other means. The fact that Iran has established a credible deterrence posture without disrupting major policy goals and objectives is the very definition of victory."

The Daily "Near You?"

Streator, Illinois, USA. Thanks for stopping by!

"Be Ready For The Collapse! Massive Price Increases Coming!"

Adventures With Danno, 4/15/24
"Be Ready For The Collapse! 
Massive Price Increases Coming!"
Comments here:

“One Last Smile For My Old Friend”

Full screen recommended.
“One Last Smile For My Old Friend”
by Iain Burns

“This is the magical moment a dying chimpanzee recognizes her old friend and gives him an emotional farewell. Mama, the 59-year-old former matriarch at Royal Burgers Zoo in the Netherlands, was curled up in a ball and refusing food until the arrival of Professor Jan van Hooff, who she had known since 1972. At first she did not realize that her old friend had come to see her and remained on the floor as he stroked her. But her bond with Professor van Hooff – who co-founded her chimp colony at the Arnhem zoo – was deep enough to shake her from her gloom. The terminally ill chimp, who was fast approaching the end of her life, can be seen reacting with pure joy when she realizes who has come to see her. Mama screeched with delight and beamed with a smile while greeting the professor. Screeching with pleasure and smiling in delight, Mama can be seen stretching out her hand and stroking Professor van Hooff’s head in greeting. The video was filmed in April 2016. Mama died just a week after giving her old friend a heartfelt farewell.”

"Even With Good People..."

"Cause even with good people, even with people that
you can kinda trust, if the truth is inconvenient,
and if the truth doesn't, like, fit, they don't believe it."
- Marie Adler

"How It Really Is"

 

"After The 'Big Show' What Is About To Happen Next Is Going To Make History!"

Gregory Mannarino, 4/15/24
"After The 'Big Show' What Is About To 
Happen Next Is Going To Make History!"
Comments here:

"Iran's Attack on Israel: A Demonstration of Power Without Delivering a Full Punch"

Full screen recommended.
Larry C. Johnson, 4/15/24
"Iran's Attack on Israel: 
A Demonstration of Power Without Delivering a Full Punch"
"Larry C. Johnson is a veteran of the CIA and the State Department’s Office of Counter Terrorism. He is the founder and managing partner of BERG Associates, which was established in 1998. Larry provided training to the US Military’s Special Operations community for 24 years. He has been vilified by the right and the left, which means he must be doing something right."
Comments here:
o
Full screen recommended.
OpenmindedThinker Show, 4/15/24
"Israel Suppressed These Footages of Damage 
Caused by Iran's Strike on Golan Heights"
Comments here:

"Economic Market Snapshot 4/15/24"

"Economic Market Snapshot 4/15/24"
Down the rabbit hole of psychopathic greed and insanity...
Only the consequences are real - to you!
"It's a Big Club, and you ain't in it. 
You and I are not in the Big Club."
- George Carlin
o
Market Data Center, Live Updates:
Comprehensive, essential truth.
Financial Stress Index

"The OFR Financial Stress Index (OFR FSI) is a daily market-based snapshot of stress in global financial markets. It is constructed from 33 financial market variables, such as yield spreads, valuation measures, and interest rates. The OFR FSI is positive when stress levels are above average, and negative when stress levels are below average. The OFR FSI incorporates five categories of indicators: creditequity valuationfunding, safe assets and volatility. The FSI shows stress contributions by three regions: United Statesother advanced economies, and emerging markets."
Job cuts and much more.
Commentary, highly recommended:
"The more I see of the monied classes,
the better I understand the guillotine."
- George Bernard Shaw
Oh yeah... beyond words. Any I know anyway...
And now... The End Game...
o