dagon comments

Posted in: Australian economy storms ahead as COVID recovery turns V-shaped See in context

The government announced a wage subsidy scheme to keep people in jobs while banks deferred payments on home loans and cut borrowing rates to help boost credit growth.

See Japan and the US? This is how you do it, not with GoTo subsidies and corporate welfare for crony firms like Dentsu. Otherwise you get a K-shaped recovery, which Japan and the US are proudly displaying.

8 ( +8 / -0 )

Posted in: Robert Kennedy confronts communist hecklers at Waseda University in 1962 See in context

Ironic that the policies RFK was promoting, if you look into them, would put him in the far left of the American political spectrum, a communist for lack of a better term, from both Republicans and centrist Democrats nowadays.

2 ( +2 / -0 )

Posted in: Pandemic widens divide between winners and losers in apparel business See in context

Workman is great gear for this pandemic landscape.

0 ( +0 / -0 )

Posted in: Japan job availability up, unemployment down in January See in context

Japan's job availability increased and the unemployment rate fell in January, government data showed Tuesday, indicating the immediate impact of the country's second pandemic-related state of emergency was limited.

This is like Trump trumpeting his "lowest unemployment numbers" pre -pandemic.

You have a large cohort leaving the workforce and a torrent of gig, contract, seasonal workers signing up .

As in the US the numbers have become a tool for politco-economic propaganda.

"We can't deny that the impact of the pandemic was felt but concerns that the state of emergency would worsen (the jobless rate) did not materialize," an official of the internal affairs ministry said.

Right....

7 ( +9 / -2 )

Posted in: Mexico says U.S. needs at least 600,000 more migrant workers See in context

It's hot, strenuous, buggy, dirty work. And even if they can handle the physical demands they generally can't come close to the level of productivity that is expected. That migratory workforce is surprisingly skilled at what they do.

If they are so extraordinarily skilled then they should be paid according to their ability?The free market meritocracy and all that. Or a native workforce should be trained up to a level where they can be remunerated commensurate with the effort demanded from such a job so the dangers of migration are mitigated?

But then the margins for the landlords wouldn't work out to be so attractive would they...

0 ( +0 / -0 )

Posted in: Asian shares rise on hopes for U.S. stimulus package See in context

Asian shares rose Monday on hopes for President Joe Biden's stimulus package and bargain-hunting after sell offs last week.

There were people on this site stating the approval of stimulus packages had no effect on the stock market.

The market is hungry for all that QE and subsidies with a few crumbs thrown to the public.

1 ( +1 / -0 )

Posted in: Mizuho restores ATMs, online services after glitch See in context

"For customers whose cash cards, bank books, etc, have been taken, we will notify you and return the items at a later date."

At a later date.. if you need money in the mean time you are out of luck.

Great metaphor for how they play with your money in the fractional reserve banking scheme and when there is a banking crisis the banks lack the assets to cover it and need bailouts from the public treasury.

6 ( +7 / -1 )

Posted in: Go To Travel campaign to remain suspended after March 7 See in context

But one of the officials said, "It is still necessary to analyze the infection situation in each region. The Go To campaign cannot be restarted immediately on March 8."

Japan Inc. realized it was looking needy and coming on a bit too hard, so it is going to back up and pretend like they are cooling it down for a moment.

0 ( +3 / -3 )

Posted in: Women making inroads on Wall Street, but still a long way to go See in context

It is the mark of a progressive society that we have more female financiers on Wall Street making outrageous sums and producing nothing, more transgender drone pilots bombing Third World countries, and more politicians of color beholden to the same corporate lobbyists.

Or that is waht the corporatocracy wants you to think.

3 ( +5 / -2 )

Posted in: Republicans test history in vote against pandemic relief See in context

.You are alleging relationships where none exist. If anything you have it backwards. Stocks for a given company or an industry as a whole rise because they are seen as being better bets for the future and the ability to automate and improve labor efficiency is a big attraction for investors.

With a successfully passed stimulus package the markets have risen. As the overwhelming amount of the stimulus package are subsidies for business and corporate welfare, in the US and Japan. The direct stimulus to the public is tiny in comparison. This is obviously separate from the profitability and efficiency of the company (ex. GameStop and Tesla).

This stock price inflation and subsidization is giving many businesses the wherewithal to automate.

3 ( +4 / -1 )

Posted in: Republicans test history in vote against pandemic relief See in context

Automation is independent of the pandemic and is an ongoing process. Few of tThe jobs lost to the pandemic are jobs that are amenable to automation.

Automation , because of the twin influences of a rising stock market and government subsidies inflating corporate capital and pandemic pressures on labor liabilities, is accelerating .

Yes the infrastructure has existed since the 90s but these twin influences have made the equation profitable for business now.

The liabilities of customer facing services and rising costs of associated health care and pension benefits make it especially attractive to business.

And the monetary policies are exacerbating this.

2 ( +3 / -1 )

Posted in: Republicans test history in vote against pandemic relief See in context

national income is the sum of consumption, investment, government spending and net exports.

Andrew Yang has commented that the pandemic has exponentially accelerated the pace of automation.

By QE, monetary easing, increasing financialization and corporate bailouts while leaving the public with stagnant wages and little direct stimulus the consumer economy is withering with bankruptcies of small businesses and a vast pool money for the .001%.

5 ( +5 / -0 )

Posted in: Republicans test history in vote against pandemic relief See in context

The level of bankruptcy and foreclosure that the US experienced was tiny fraction of the carnage the US would have suffered had there been no TARP or banking bailout. I'm an economist. This sort of thing is where I live. The US was supremely lucky that time. It could have been so much worse if people had listened the the ones maligning the bank bailout. Ugly as it was there was no other good choice. None.

False equivalency and an often used rationale at the time. Bailing out homeowners who would pay off their loans to banks never occurred to the economists cited?

But of course the banks would be too big to fail and the amount leveraged by financialization could not be paid back so better to let millions suffer, which is what actually happened outside of apocalyptic hypotheticals.

Finland managed without a banker bailout.

And none of the bankers, AIG insurance, accounting companies who used the economy as a casino ever went to prison.

4 ( +4 / -0 )

Posted in: Republicans test history in vote against pandemic relief See in context

As it was, deflation was arrested mostly, but kept re-appearing over the course of the next three years and are the reason for the injections of "Qualitative Easing" by the Fed. Ideally Congress would have used massive fiscal stimulus to arrest deflation but Congress would not do so on the scale necessary. That forced the Fed to use QE in its place.

QE is a guaranteed basic income for banks.

You would be better of reading from economists like Thomas Piketty.

It is part of the zero -interest loan, helicopter money financial arsenal of corporate welfare.

3 ( +3 / -0 )

Posted in: Republicans test history in vote against pandemic relief See in context

2009-Republicans oppose a stimulus because it would be politically advantageous to appear to oppose a Wall street bailout while secure in the knowledge it would pass anyway with the Democratic majority and the Democrats would bear the brunt of righteous public anger for bailing out the banks and leaving the public to suffer.

2020- Republicans gleefully passed Trump's bailout with massive corporate welafre and tried to take credit for a small one time direct stimulus.

2021- Republicans want to go back to an image of fiscal conservatism after running up the deficit with Trump tax cuts and do not want the democrats to take credit for more generous direct stimulus to the public so they are in opposition.

6 ( +8 / -2 )

Posted in: Japan's android pets ease virus isolation See in context

The GPT-3 natural language model was developed by AI but now licenses are being sold by Microsoft after an acquisition.

These toys seem to have their interfaces developed in house and have the functionality of the old Furbies.

Integration of GPT-3 into these hardware would be a paradigm shift.

0 ( +1 / -1 )

Posted in: SoftBank reaches deal with WeWork See in context

WeWork was a dazzling unicorn valued at $47 billion, and SoftBank's founder Masayoshi Son had openly hailed Neumann's vision.

But things began to unravel as the firm lost cash and cancelled its share offering, with the ex-CEO pushed out -- albeit with a generous package.

Looking at Neumann and Trump for example, the message society is sending is that white collar crime pays. WeWork had nothing to do with tech and was an old fashioned real estate swindle that paid out big.

3 ( +5 / -2 )

Posted in: Republicans test history in vote against pandemic relief See in context

With the nation's financial system on the brink of collapse, all but three Republicans voted against the massive stimulus package designed to protect millions of Americans from financial ruin.

It was early 2009, just weeks after Joe Biden was sworn in as vice president, and the vote marked the beginning of a new era of partisan gridlock in Congress. And for beleaguered Republicans coming off a disastrous election, it was their first step back to political power.

This was actually a misstep, intentional or not, by the Democrats and was borne out in the subsequent midterm election.

The Obama administrations' going forward with the banker bailout, began under Bush, and condemning millions of ordinary Americans to foreclosure and bankruptcy was the opening that allowed for the rise of faux populist Trump. The Republican party of fatcats and fundamentalists could pivot toward populism and say the Democrats were the real elitists and supporters of Wall Street.

5 ( +5 / -0 )

Posted in: Lady Gaga's dogs recovered safely; no word on $500,000 reward See in context

French bulldogs are being targeted for dog-napping in violent assaults across the US. The breed goes for quite a bit. I hope if this kind of money is flying around some of it goes towards shelter dogs.

10 ( +11 / -1 )

Posted in: Trump allies show fealty to former president with golden statue See in context

of course, and the job creators passed it on down to the middle class into their employees and this is why the unemployment was so long and this is why small businesses were doing so well and raking in big bucks, everyone was happy, so I do think Joe creators should get and make a lot of money, they also tend to have happier employees as well.

Never disappointing with the Trumpian word salad, praising the tired myths of trickle down economics and job creators. When companies getting massive tax breaks stop having full time workers still needing side work or public assistance maybe you can point to some of those happy employees, but that did not happen under Trump.

6 ( +7 / -1 )

Posted in: Tokyo high schools ask students to certify hair color not altered: NHK See in context

Petty rule-crazed bureaucrats with too much time on their hands.

Why not try updating your internet infrastructure from no wi-fi and Windows XP and investing into evolving into digital means of education that will be safer for students and teachers. The pandemic gives you the perfect rationale and instead you waste your time on this.

17 ( +17 / -0 )

Posted in: U.S. implicates Saudi crown prince in journalist Khashoggi's killing See in context

In the race between the exhaustion of Saudi Arabia's oil supplies and slip into geopolitical irrelevancy, and its' efforts to use its' wealth to gain relevancy in other sectors, I hope peak oil wins.

5 ( +6 / -1 )

Posted in: G-20 promises no let-up in stimulus, sees tax deal by summer See in context

The Italian presidency of the G-20 group of the world's top economies said the gathering of finance chiefs had pledged to work more closely to accelerate a still fragile and uneven recovery.

Nice euphemism but the "recovery" is "uneven" because of helicoptering money into financials while the public is left , again, with the scarce trickle down.

1 ( +1 / -0 )

Posted in: Trump allies show fealty to former president with golden statue See in context

You know, there is a book that these Trump supporters often cite, and I seem to recall some stories about their prophets warning against the worship of false idols, and a golden calf....Probably means nothing, like the rest of their twisted ideology.

13 ( +15 / -2 )

Posted in: Texas blackout: How can electricity grids weather climate shocks? See in context

Another option is working with other states to share energy, in the event of power failures. Texas stands out as not having any such arrangements due to its independent power grid.

The most hilarious thing about the blackouts is seeing Republican officials in Texas' oil dominant economy trying to spin this as the fault of a yet to be enacted Green New Deal, wind turbines, environmentalism, AOC or Democratic governors.

9 ( +10 / -1 )

Posted in: JAL to slash hiring of new graduates by 90% in 2022 See in context

Japan Airlines Co said Thursday it will slash its hiring of new graduates in fiscal 2022 by 90 percent from the number that joined JAL group companies last spring, as the coronavirus pandemic is expected to continue putting pressure on travel demand.

JAL, exhibit #1 that bailouts neither trickle down to the public nor save jobs. Will not stop them from using the same rationales when the time comes for the next big bailout.

4 ( +5 / -1 )

Posted in: Go To Travel campaign may partially resume after state of emergency lifted See in context

Akaba said the government needs to carefully analyze the infection situation of each region before restarting the campaign, which was halted across the country on Dec 28.

Come on Akaba; the primary concern for the restart of GoTo subsidies is not the infection situation but the situation of the bank accounts of JTB, big hotel chains or other companies with close ties to Japan Inc./Gov.

28 ( +31 / -3 )

Posted in: Editor of occult fanzine Mu makes a pitch for 'conspiracy literacy' See in context

Many conspiracy theories have little to support them.

Yet some turn out to have been true: the Tuskegee Experiments, MKULTRA and stealth aircraft for example.

0 ( +0 / -0 )

Posted in: New Zealand's virus success unleashes runaway housing prices See in context

New Zealand is attractive in many respects and like San Francisco the technorati are moving in a driving up prices.

-1 ( +0 / -1 )

Posted in: Apple supplier Foxconn teams up with Fisker to make electric vehicles See in context

Maybe Foxconn will not have to deploy their anti-suicide nets around their gated factories in this case.

0 ( +0 / -0 )

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