Show newer

@cldtech

Medical professionals almost universally agree that masks are effective in slowing the spread of the coronavirus, though I suspect no amount of science or medical expertise will persuade you.

mayoclinic.org/diseases-condit

@cldtech

Consequently, authorities in Britain required citizens to create blackouts during these bombings. Virtually all man-made light was extinguished when ordered -- even within private homes.

No one complained, because everyone understood the threat and the stakes.

@cldtech

If you'll permit, I'll share an analogy you may consider relevant.

During the War, German pilots would often fly bombing campaigns targeting British cities under cover of darkness. They were assisted in identifying targets by the lights of the cities below.

argentum boosted

“She emerged as an apparition from clouds of tear gas as federal agents fired pepper balls at angry protesters in the early Saturday darkness.”

politics, bailouts, competition 

@indirection

In free market economics, any interference into "perfect competition" is considered a distortion. This must necessarily affect prices and other attributes normally decided by the market alone.

Depending on its implementation, stimulus can effectively reward the wrong businesses at the expense of the right ones and consumers. It can, itself, be a huge drag on the economy.

politics, bailouts, competition 

@indirection

Yes, a healthy market punishes the uncompetitive and rewards the competitive.

Bailouts, emergency loans, and other forms of stimulus change that calculus, benefiting uncompetitive businesses by resuscitating their corpse.

This market distortion hurts consumers (higher prices) and competitive businesses that do not also seek the same subsidies.

It may only be delaying the inevitable, but it still carries an economic cost in the interim.

politics, bailouts, competition 

The only logical recourse for these businesses in this scenario, as distasteful as it is, is to seek the same advantages given to their rivals.

This is obviously not ideal, but this is what these businesses will effectively be forced to do every time. We shouldn't be surprised by it.

And from a pure free market perspective, it's hard to argue they don't have just as much of a right to it as their rivals do. Especially at the current scale of stimulus measures.

Show thread

politics, bailouts, competition 

Now, those uncompetitive rivals who were over-leveraged or financially unprepared for even a minor loss of revenue were being given loans under very favorable terms.

From the perspective of a healthy, successful business, this is an unfair subsidy that not only hurts their competitiveness, it distorts the entire market in favor of the uncompetitive rivals. In other words, it's also hurting consumers.

Show thread

politics, bailouts, competition 

It's a bit romantic, but in a healthy market (and not all are), competition is thriving and businesses fight to survive. Make a wrong move and your competition eats your lunch.

If you're smart, invest (in talented people, ideas) wisely, work hard -- and get lucky -- you're rewarded at the expense of your rivals. You eat their lunch.

This is how it's supposed to work!

But, bailouts change that.

Show thread

politics, bailouts, competition 

"Some government contractors took out loans from the Paycheck Protection Program even as they were paid for government work during the pandemic"
wsj.com/articles/some-companie

The same thing happened during the housing crisis bailouts of 2009: perfectly healthy businesses, who had plenty of cash on-hand and were operating profitably, took bailout loans.

The same public anger erupted then. But then, as now, they missed something important.

argentum boosted

Kiam via kato furzas, memoru, mi kaŭzis tion. Mi estas ĉie.

@MikeG1@resistance.social you would think. But, the world has gone mad and previously outrageous and disqualifying things now barely make the news.

He did the same thing in 2016, btw:
nyti.ms/2envdu2

argentum boosted

stress, therapy, living in a collapsing empire 

I’ve been privileged to have some really good therapists in the past but I literally cannot trust any new ones because they’re obligated to report me if I’m at risk of hurting myself or others and some of them might think “willingly attending a protest against police violence” counts as such, much less me expressing my desperate desire to take a pair of bolt cutters to the cages and gates of every ICE facility

@terminal @taruki Kanye is crazy, and we've had quite enough of that since 2016, thank you.

America wants off this ride.

@terminal @taruki what about when he said "Planned Parenthoods have been placed inside cities by white supremacists to do the Devil’s work"?

And then there's this gem: "It's so many of our children that are being vaccinated and paralyzed. . . . So when they say the way we’re going to fix Covid is with a vaccine, I’m extremely cautious. That’s the mark of the beast. They want to put chips inside of us, they want to do all kinds of things, to make it where we can’t cross the gates of heaven."

@taruki @terminal Barely scratching the surface of the crazy shit he's said

@terminal @taruki "I really do think that he'd be a great fit for president..."

I'm sorry, what?

Kanye "400 years is slavery was a choice" is fucking insane. He's absolutely not qualified to run a McDonald's, nevermind the country.

argentum boosted

Peeps, I have the footage! [Trump interview outtake clip] 

📹

Show older
Mastodon

This is a brand new server run by the main developers of the project as a spin-off of mastodon.social 🐘 It is not focused on any particular niche interest - everyone is welcome as long as you follow our code of conduct!