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Paul Krugman opinionizes in the NYT:

Robber Baron Recessions
Paul Krugman

… In recent years many economists, including people like Larry Summers and yours truly, have come to the conclusion that growing monopoly power is a big problem for the U.S. economy — and not just because it raises profits at the expense of wages. Verizon-type stories, in which lack of competition reduces the incentive to invest, may contribute to persistent economic weakness.

The argument begins with a seeming paradox about overall corporate behavior. You see, profits are at near-record highs, thanks to a substantial decline in the percentage of G.D.P. going to workers. You might think that these high profits imply high rates of return to investment. But corporations themselves clearly don’t see it that way: their investment in plant, equipment, and technology (as opposed to mergers and acquisitions) hasn’t taken off, even though they can raise money, whether by issuing bonds or by selling stocks, more cheaply than ever before.

How can this paradox be resolved? Well, suppose that those high corporate profits don’t represent returns on investment, but instead mainly reflect growing monopoly power.

Of course, as I pointed out a couple of years ago in Taki’s Magazine, the most flagrant example of the decline in anti-monopoly wariness is the lack of criticism in America of the New York Times for taking the Danegeld from intermittent Richest Man in the World, Mexican telecom monopolist Carlos Slim.

I don’t see much evidence on Google of NYT columnist Paul Krugman criticizing Slim, the most absurd example of monopoly power debilitating a national economy.

From Time Magazine in 2009:

The 2009 TIME 100
In our annual TIME 100 issue, we do the impossible: name the people who most affect our world

BUILDERS & TITANS
Carlos Slim
By Arthur Sulzberger Jr.

Apr. 30, 2009

I recently had the great pleasure of meeting Carlos Slim. He had decided to invest in the New York Times Co. and thought it would be a good idea to get to know me and my senior colleagues. It was obvious from the moment we met that he was a true Times loyalist. We had an enjoyable conversation about what was happening in this country and everywhere else in the world. Carlos, a very shrewd businessman with an appreciation for great brands, showed a deep understanding of the role that news, information and education play in our interconnected global society.

What also became apparent is that for Carlos, insight and understanding are catalysts for action and accomplishment. This speaks to why Carlos has funded extensive public-health education programs and why he’s helped thousands of students throughout Latin America get their own laptops and learn more about digital technology.

Carlos, 69, believes that as people know more, they have a far better opportunity to change and improve their lives. As he spoke at our meeting, he conveyed the quiet but fierce confidence that has enabled him to have a profound and lasting effect on millions of individuals in Mexico and neighboring countries. … And I am delighted that he brings those attributes to the New York Times Co., to Mexico and to the world.

Sulzberger is chairman of the New York Times Co. and publisher of the New York Times

Sure, the Slim Dynasty is an offshoot of 1930s Fascism, but he’s not white (he isn’t, right?). So that mean’s he’s Good.

After all, Slim’s hero is Genghis Khan.

Money Changes Everything.

A very 1979 song.

 
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  1. Pat Casey says:

    Yeah that ancient gray whore and her King love each other. gross. F them. Crooked Slim’s a sinister cat no doubt. Speaking of which, the she-one next to Lauer said with a straight face Trump is “testdriving” Hillary’s new moniker when she laid the gauntlet with no perkiness across the table to Sanders. He would not call Hillary crooked Hilary Clinton, because the whole system is crooked. Which was a nice spin of his I’d say.

    Anyways, we are seeing such a perfect storm fating Trump to command its eye. Sanders groundtroops are going to keep protesting Hilary. She’s going to get street protested by her own party worse than Trump. And there are ears are open among them, the ones of them that are white, methinks. And the issue, as ever, is money.

    So long as Trump is self-funding Sanders’ streeties are going to swing to him. His present tiff with Prebus is him saying forget your money, you bumbling odd-name mumbling bastard.

    Trump just needs to keep reminding us that heroin immigrates.

  2. Genghis Khan is my hero, too. I suppose it’s easy to admire him from the safe distance of a few centuries.

  3. Money Talks but it doesn’t always tell the truth.

    • Agree: dc.sunsets
    • Replies: @dc.sunsets
    @Prof. Woland

    On second thought, money does always tell the truth.

    The lies begin when discussion arises of where the money went (or where it came from.)

    Following the money reveals truth. The problem is that the Narrative always falls for the slight-of-hand in Three Card Monte.

  4. OT. More evidence to prove your thesis of Genius T. Coates being traumatized as a bookish nerd growing up in the crack wars. Dungeons and Dragons, eh?

    “Some of the best days of my life were spent poring over the back issues of The Uncanny X-Men and The Amazing Spider-Man. As a child of the crack-riddled West Baltimore of the 1980s, I found the tales of comic books to be an escape, another reality where, very often, the weak and mocked could transform their fallibility into fantastic power. That is the premise behind the wimpy Steve Rogers mutating into Captain America, behind the nerdy Bruce Banner needing only to grow angry to make his enemies take flight, behind the bespectacled Peter Parker being transfigured by a banal spider bite into something more.

    But comic books provided something beyond escapism. Indeed, aside from hip-hop and Dungeons & Dragons, comics were my earliest influences.”

    http://www.theatlantic.com/magazine/archive/2016/04/the-return-of-the-black-panther/471516/

    • Replies: @Pericles
    @Bill Brasky

    "Yo, I hit him wimma +1 bill guisarme."

  5. This is my lobbying theme from a different angle Steve. You said that business moves to a “winner takes all” state. There is absolutely nothing inevitable about this though.

    All business laws and practices in the US are geared to drive small and medium businesses to the wall. An example in my industry is that Experian wont accept credit reporting unless you are an enormous lender. A friend of mine has over a thousand car loans and Experian wont even talk to him. The response of the average American is “who cares” to things like this.

    This matters because car dealers wont sell loans to anyone who doesn’t report to Experian. So this guy has over $10,000,000.00 invested and has to lie to these dealers that their customers will be reported. If you tell people this story they are so disconnected from business reality they have the [email protected] to accuse my friend of a moral failure for not being honest in this situation.

    Everything in the US is like this. You can’t have a white culture where business means a cupcake store or running a yoga studio and have any expectation that white people wont end up slaves in the US. The real cultural suicide is giving up on self directed income.

    • Agree: Travis
    • Replies: @Taco
    @Mike1

    I don't understand. Is your friend a loan collection agency?

    , @27 year old
    @Mike1

    Why should anyone care about that? As an average-American who will not see even close to $10,000,000 throughout my life combined (let alone having $10mm to invest), you better believe I say "who cares". Cry me a river for that poor guy...

    Replies: @Mike1

    , @anon
    @Mike1

    Yes, the corporate oligarchy say they're on the side of capitalism but it's not true - the real capitalism - innovation and churn - happens at the smaller scale and the bad guys are strangling that.

    , @Bill
    @Mike1

    " The real cultural suicide is giving up on self directed income."

    The real cultural suicide is muh freedom, muh rule of law, and muh bourgeois morality. I'll bet your friend thinks the people he lends money to have an obligation to tell him the truth. I'll bet your friend thinks the people he lends money to have an obligation to pay it back. I'll bet your friend is bent out of shape about the government regulations he has to obey. There's just this special exception to all that rule of law and bourgeois morality stuff when it contradicts his interests. Here's hoping your usurer friend gets nailed for fraud.

  6. Hulagu Khan is my hero. He wasted Baghdad, The Assassin cult up in their Syrian mountain fortress and various other Muslim cities. Muhammad was bush league compared to Hulagu. But Genghis passed on the most genes, 10% of today’s Mongolians so I read. Harum Scarum.
    Wasting The Assassins:
    http://www.famousdaily.com/history/hulagu-khan-captures-hashshashin-stronghold.html

  7. In the political climate shaped by Reagan, Friedman, Hayek, Jack Kemp, Thatcher, and their various epigones and explicators, it has not been kosher to criticize monopolies for at least 4 decades. Let’s not forget that fact in the middle of today’s oddly orthogonal political mood. In the context of American politics, calling out monopolies in a mainstream public forum would have gotten you called a leftist, despite the fact that the likes of Stockman and PCR were always about making capitalism work the way it was supposed to.

    Indeed, watching these memes go mainstream in the death throes of Kempian conservatism has been one of the main joys for this old school flat cap wearing shop steward. Seems to be happening all at once, doesn’t it.

    respect as always to Sailer for being ahead of the curve.

    • Replies: @Charles Erwin Wilson
    @anonymous-antiskynetist


    Reagan, Friedman, Hayek, Jack Kemp, Thatcher, and their various epigones and explicators, it has not been kosher to criticize monopolies for at least 4 decades.
     
    Of course not, at least not in the alternate parallel universe you occupy. Because the monopolies of government never take my money for illegitimate purposes nor coerce me to violate my conscience.

    Replies: @Winthorp

  8. Another factor distorting corporate profits has been stock buybacks to increase their earnings per share..with the Fed still printing money, firms can borrow at low rates using the funds to buy back shares…with less shares on the market, earnings per share increase without any real increase in earnings.

    Since the fed pretended to end QE in 2014 they have maintained their balance sheet by purchasing $200 Billion treasuries , this year they are projected to buy $15 Billion per month to maintain their balance sheet at 4.5 Trillion dollars which continues to distort the financial markets, making it less costly for firms to borrow.

  9. The extent of Salim’s whiteness is irrelevant. We do not live under white supremacy. We live under green supremacy. The opposition to Trump, a man almost as obscenely wealthy as Salim, comes from the threat he poses to the extreme wealth of globalist plutocrats like Salim. The ideological stuff is just icing on the cake.

  10. Better yet, it’s money that matters in the [Latin] USA. Randy Newman with some licks from Money for Nothing Mark Knoffler. I wonder if Randy still loves LA, with his Pixar money he can probably afford to stay insulated.

    • Replies: @duncsbaby
    @Malcolm X-Lax

    Money for Nothing was released in 1985. I love L.A. came out in 1983. Mark Knopfler remains blameless.

  11. This whole “corporations are sucking U.S. workers dry to increase profits to enrich investors” meme has a glaring hole in it: Investment returns on U.S. stocks over the past 15 years have been very unimpressive. From April 2001 to March 2016, the U.S. total stock market index returned 6.18% annually with inflation running at 2.01%, so a real return of 4.17% annual.

    If you only look at the S&P, it’s worse: a real return of 3.54% annually. Historically, that number is ~7%.

    Any way that you look at it, investment returns have been pretty paltry for the past 15 years. (Returns are somewhat better if you go back 20 years which includes the tech boom; however, the returns are still a bit below their historic average.)

    What’s more, valuations on U.S. stocks point to very paltry returns going forward (see Research Affiliates, AQR, and others which all point in the same direction), so there’s little chance that investors will be enriched in over the next 10 to 15 years.

    I’m not saying that corporations aren’t screwing people over in multiple ways, but those increased profits are not enriching investors, at least not current investors. (People investing in U.S. stocks from 1982 to 1999 were amazingly enriched due to U.S. stocks starting at cheap valuations and ending at insane valuations, but that wasn’t some Soros plot, just good luck.)

    • Replies: @Travis
    @Citizen of a Silly Country

    the bubble we had in 2000 was unprecedented. The fed manipulated the markets, keeping interest rates artificially low to help reduce the impact of the stock market collapse, which was one of the causes of the housing bubble..which is another bubble we are still recovering from. the 1982-1999 stock returns includes the bubble years, thus the inflated returns.

    Replies: @Citizen of a Silly Country, @Name Withheld

    , @Forbes
    @Citizen of a Silly Country

    Inconvenient facts will always be ignored. Sound bites work better, as Krugman illustrates--give the knuckle draggers something to chew is all that is necessary.

    , @Wilkey
    @Citizen of a Silly Country

    "What’s more, valuations on U.S. stocks point to very paltry returns going forward"

    Paltry compared to what? Compared to the return on a savings account of ca. 0.1%? Compared to the real estate collapse? In an era of low inflation, low interest rates, and low wage growth, those returns look pretty damn good.

    Replies: @Citizen of a Silly Country

  12. Not since Walter Duranty has a more loathsome Ayn Rand character come to life as Paul Krugman.

    It should be mentioned at every opportunity that he is the snivelling Ellsworth Toohey of our time. Though, not for Krugman’s benefit, as a Toohey stoodge, he knows and relishes his lot in life.

  13. You are doing God’s work Steve, reading the NYT for us so we don’t have to sully our eyes.

  14. @Prof. Woland
    Money Talks but it doesn't always tell the truth.

    Replies: @dc.sunsets

    On second thought, money does always tell the truth.

    The lies begin when discussion arises of where the money went (or where it came from.)

    Following the money reveals truth. The problem is that the Narrative always falls for the slight-of-hand in Three Card Monte.

  15. As my wife says “It’s all about money.”

  16. The left is hesitant to take on monopolies is the fact that so many large businesses have been successfully converged. Break those up and you’d have a lot more businesses that could grow-and resist convergence.

    It also might start leaking out how incestual such monopolies are. Finding out the same people are on the Board at, say, Google and major banks and major media companies…well, it’s best not to excite conspiracy theories in the rabble.

  17. Increasing monopoly power tends to lead to similar problems that communist central planning economies have.

  18. After all, Slim’s hero is Genghis Khan.

    And Genghis just might have the all-time body count record (both in relative and absolute terms):

    Colin McEvedy, Atlas of World Population History (1978):
    China Proper: In the text, he states that the population declined by 35 million as the Mongols reduced the country to subjugation during the 13th Century. In the Chart, the population drops from 115M to 85M between 1200 and 1300 CE. (p.172)
    Iran: Charted population declined from 5.0M to 3.5M
    Afghanistan: from 2.50M to 1.75M
    Russia-in-Europe: 7.5M to 7M
    This indicates a total population decline of some 37.75 million.

    • Replies: @Jefferson
    @syonredux

    "And Genghis just might have the all-time body count record (both in relative and absolute terms):"

    So Gengis Khan has murdered more people than Adolf Hitler?

    Replies: @syonredux

    , @Charles Erwin Wilson
    @syonredux


    And Genghis just might have the all-time body count record (both in relative and absolute terms):
     
    I guess you must have missed Communism's body count. GK may have the relative total, but the absolute total is Communism's, and Atheism's claim to fame.

    Replies: @Jefferson, @syonredux, @unpc downunder

  19. Verizon’s market share is around 32%.

    • Replies: @Forbes
    @C. Van Carter

    What is the defined market for the cited 32%?

    A telephone company? A wireless service provider? Internet services? Cable TV/entertainment services? Curious minds...

  20. Priss Factor [AKA "Dominique Francon Society"] says: • Website

    Constitution might as well be printed by the Fed.

    It’s the Rule of Dough.

  21. Priss Factor [AKA "Dominique Francon Society"] says: • Website

    Ethnomonopoly is a big problem as to why we have such stilted narratives.

  22. For an economist, Krugman is bereft of financial accounting matters…

    You see, profits are at near-record highs, thanks to a substantial decline in the percentage of G.D.P. going to workers.

    He suggests a cause-effect relationship between labor costs and profits, while deducing this bit of obviousness…

    they can raise money, whether by issuing bonds or by selling stocks, more cheaply than ever before.

    Profits generally measure the return on capital inputs–so if the cost of capital is low, ceteris paribas, profitability can be high. Labor costs, as a variable input, i.e. low unit costs, can mean high operating margins, though not necessarily high profitability, as the return on, and the return of, capital must be serviced from operating income. Labor gets paid ahead of capital from the stream of operating revenues.

    Perhaps there is something (more complicated) going on in labor markets (supply & demand for labor, mobility, flexibility) that is the cause of Krugman’s dilemma of “percentage of GDP going to workers.”

    I suppose Krugman should be given a break, microeconomics is not his specialty.

  23. Insanely off-topic,

    The PC crowd in the US has been up in arms over the casting of Scarlett Johansson in Ghost in the Shell. People in Japan, though, seem to be OK with the idea:

    “The gap between Japan and abroad is interesting. Japan: A white person is okay, right? Abroad: We won’t forgive white-washing, cast an Asian person.”

    http://kotaku.com/the-japanese-internet-reacts-to-scarlet-johansson-in-gh-1771544034

    Of course, the Japanese have a long history of “Japanizing” Western plays, books, and films: Ran (King Lear), Throne of Blood (Macbeth), Yurusarezaru mono (Unforgiven ), Saidoweizu (Sideways), High and Low (King’s Ransom: An 87th Precinct Mystery ), etc. So why should they complain when Japanese media is Westernized?

    • Replies: @Truth
    @syonredux


    “I hate Scarlett Johansson because she appeared in that movie that made fun of Japan. She’s ugly, but she might have a face that white people like.”
     

    Replies: @syonredux

    , @AndrewR
    @syonredux

    SJWs gonna SJW. Who cares?

    Replies: @syonredux

    , @Yojimbo/Zatoichi
    @syonredux

    As some of the titles are Kurosawa, finish the sentence. A remake of Maxim Gorky's The Lower Depths (which was done in 1936 in France); Dostoevsky's The Idiot; and of course, YOJIMBO, (largely based on Dashiell Hammett's Prohibition era book Red Harvest). His earlier period, the 1947 film One Wonderful Sunday is a remake of a D.W. Griffith silent. Kurosawa in particular made no secret of his fascination for Western literature and films and early Japanese critics initially accused him of being "too Western". Ran was co-produced by the French government; Francis Ford Coppola helped co-produce Kagemusha; and Dersu Uzala.

    From Wikipedia:

    "In an interview conducted for the 1999 RUSCICO DVD issue of the film, co-star Yuri Solomin stated that Kurosawa had long known of Arsenyev's book and had planned to make a film version very early in his career in the late 1930s, but had dropped the project after realising that it had to be made in the region where the events had actually taken place.

    In 1971, Kurosawa attempted suicide during a bad period in his career, questioning his creative ability after the commercial failure of Dodes'ka-den the year before and the subsequent denial of funds for his productions by Japanese studios.[4] In 1972, Dodes'ka-den producer Yoichi Matsue and his assistant Teruyo Nogami were approached by the Soviet studio Mosfilm for an adaptation of the Russian memoir Dersu Uzala to be directed by Kurosawa. On January 1, 1973 Matsue signed the deal on the condition that Kurosawa receive full creative control over the film. Mosfilm wanted Kurosawa's frequent collaborator Toshiro Mifune to play Dersu, but Matsue convinced them otherwise as Mifune would not be attached to such a long production. Eventually Tuva actor Maxim Munzuk was cast.[5]"

    That's better, and now the sentence is more or less completed.

    , @NOTA
    @syonredux

    Japan is the living example of why cultural appropriation is a force for good in the world. Modern science, corporate organization, parliamentary democracy--all "appropriated" by the Japanese, to the massive benefit of all mankind.

    Replies: @anon

  24. @C. Van Carter
    Verizon's market share is around 32%.

    Replies: @Forbes

    What is the defined market for the cited 32%?

    A telephone company? A wireless service provider? Internet services? Cable TV/entertainment services? Curious minds…

  25. Krugmanian policies haven’t had predicted effects. This is a paradox, because Krugmanian policies are always the correct ones. The only possible explanation, then, is an x-factor. Luckily for us, this x-factor can easily be remedied by electing Krugman approved politicians.

  26. Since it’s commonly accepted that “the West” is on an uncontrolled descent into terrain, here’s some ripe old German metaphysical mumbo-jumbo about m-m-money in such conditions ;

    “.. only one power that can confront money is left. Money is overthrown and abolished by blood.”

    Sounds nasty. Don’t want to stick around for that.

  27. @syonredux
    Insanely off-topic,

    The PC crowd in the US has been up in arms over the casting of Scarlett Johansson in Ghost in the Shell. People in Japan, though, seem to be OK with the idea:

    “The gap between Japan and abroad is interesting. Japan: A white person is okay, right? Abroad: We won’t forgive white-washing, cast an Asian person.”
     
    http://kotaku.com/the-japanese-internet-reacts-to-scarlet-johansson-in-gh-1771544034

    Of course, the Japanese have a long history of "Japanizing" Western plays, books, and films: Ran (King Lear), Throne of Blood (Macbeth), Yurusarezaru mono (Unforgiven ), Saidoweizu (Sideways), High and Low (King's Ransom: An 87th Precinct Mystery ), etc. So why should they complain when Japanese media is Westernized?

    Replies: @Truth, @AndrewR, @Yojimbo/Zatoichi, @NOTA

    “I hate Scarlett Johansson because she appeared in that movie that made fun of Japan. She’s ugly, but she might have a face that white people like.”

    • Replies: @syonredux
    @Truth


    “I hate Scarlett Johansson because she appeared in that movie that made fun of Japan. She’s ugly, but she might have a face that white people like.”
     
    Seems that some people in Japan would have preferred Taylor Swift:

    “Taylor Swift would’ve been better.”
     

    Replies: @njguy73

  28. @syonredux
    Insanely off-topic,

    The PC crowd in the US has been up in arms over the casting of Scarlett Johansson in Ghost in the Shell. People in Japan, though, seem to be OK with the idea:

    “The gap between Japan and abroad is interesting. Japan: A white person is okay, right? Abroad: We won’t forgive white-washing, cast an Asian person.”
     
    http://kotaku.com/the-japanese-internet-reacts-to-scarlet-johansson-in-gh-1771544034

    Of course, the Japanese have a long history of "Japanizing" Western plays, books, and films: Ran (King Lear), Throne of Blood (Macbeth), Yurusarezaru mono (Unforgiven ), Saidoweizu (Sideways), High and Low (King's Ransom: An 87th Precinct Mystery ), etc. So why should they complain when Japanese media is Westernized?

    Replies: @Truth, @AndrewR, @Yojimbo/Zatoichi, @NOTA

    SJWs gonna SJW. Who cares?

    • Replies: @syonredux
    @AndrewR


    SJWs gonna SJW. Who cares?
     
    Hang around an English Dept some time. I've had to listen to endless harangues on the racist evil of casting Scarlett Johansson in Ghost in the Shell. One colleague of mine just kept dilating on Scarlett Johansson's blue eyes, how they functioned as the "visual sign" of White Supremacy in Lucy, and now those sinister orbs will feature in Ghost....

    Replies: @Jefferson, @Expletive Deleted

  29. @Truth
    @syonredux


    “I hate Scarlett Johansson because she appeared in that movie that made fun of Japan. She’s ugly, but she might have a face that white people like.”
     

    Replies: @syonredux

    “I hate Scarlett Johansson because she appeared in that movie that made fun of Japan. She’s ugly, but she might have a face that white people like.”

    Seems that some people in Japan would have preferred Taylor Swift:

    “Taylor Swift would’ve been better.”

    • Replies: @njguy73
    @syonredux

    How about Keira Knightley? She's got range...

  30. @AndrewR
    @syonredux

    SJWs gonna SJW. Who cares?

    Replies: @syonredux

    SJWs gonna SJW. Who cares?

    Hang around an English Dept some time. I’ve had to listen to endless harangues on the racist evil of casting Scarlett Johansson in Ghost in the Shell. One colleague of mine just kept dilating on Scarlett Johansson’s blue eyes, how they functioned as the “visual sign” of White Supremacy in Lucy, and now those sinister orbs will feature in Ghost….

    • Replies: @Jefferson
    @syonredux

    "Hang around an English Dept some time. I’ve had to listen to endless harangues on the racist evil of casting Scarlett Johansson in Ghost in the Shell. One colleague of mine just kept dilating on Scarlett Johansson’s blue eyes, how they functioned as the “visual sign” of White Supremacy in Lucy, and now those sinister orbs will feature in Ghost…."

    Most of the Asian Social Justice Warriors in The U.S complaining about Scarlett Johansson are not even Japanese, they are Chinese, Filipino, Vietnamese, and Korean.

    Replies: @PiltdownMan

    , @Expletive Deleted
    @syonredux


    blue eyes, how they functioned as the “visual sign” of White Supremacy
     
    Just like Gollum's
  31. “Profit margins are probably the most mean-reverting series in finance, and if profit margins do not mean-revert, then something has gone badly wrong with capitalism. If high profits do not attract competition, there is something wrong with the system and it is not functioning properly.” – Jeremy Grantham, Barron’s

  32. @Citizen of a Silly Country
    This whole "corporations are sucking U.S. workers dry to increase profits to enrich investors" meme has a glaring hole in it: Investment returns on U.S. stocks over the past 15 years have been very unimpressive. From April 2001 to March 2016, the U.S. total stock market index returned 6.18% annually with inflation running at 2.01%, so a real return of 4.17% annual.

    If you only look at the S&P, it's worse: a real return of 3.54% annually. Historically, that number is ~7%.

    Any way that you look at it, investment returns have been pretty paltry for the past 15 years. (Returns are somewhat better if you go back 20 years which includes the tech boom; however, the returns are still a bit below their historic average.)

    What's more, valuations on U.S. stocks point to very paltry returns going forward (see Research Affiliates, AQR, and others which all point in the same direction), so there's little chance that investors will be enriched in over the next 10 to 15 years.

    I'm not saying that corporations aren't screwing people over in multiple ways, but those increased profits are not enriching investors, at least not current investors. (People investing in U.S. stocks from 1982 to 1999 were amazingly enriched due to U.S. stocks starting at cheap valuations and ending at insane valuations, but that wasn't some Soros plot, just good luck.)

    Replies: @Travis, @Forbes, @Wilkey

    the bubble we had in 2000 was unprecedented. The fed manipulated the markets, keeping interest rates artificially low to help reduce the impact of the stock market collapse, which was one of the causes of the housing bubble..which is another bubble we are still recovering from. the 1982-1999 stock returns includes the bubble years, thus the inflated returns.

    • Replies: @Citizen of a Silly Country
    @Travis

    I agree, but my point is that I keep hearing about corporations doing everything under the sun to hammer workers to boost profits. And, indeed, corporate profits relative to GDP are extraordinarily high. But those profits are not enriching investors.

    A good part of the explanation is the crazy returns of the S&P from 82 to 99. That was ridiculous, and we're still working that off. Maybe I'm looking at it backward. If it wasn't for corporations boosting their profits recently, U.S. investors would have had far worse returns from 2000 to 2015. Corporations may not be enriching investors by screwing over workers, but they are giving investors some returns.

    Replies: @Travis

    , @Name Withheld
    @Travis

    "the bubble we had in 2000 was unprecedented."

    Agree with this analysis.

  33. I’d look into a career change

  34. “Ever Since The World Began”:

  35. Wow, I thought that was original to Cyndi Lauper.

  36. @syonredux

    After all, Slim’s hero is Genghis Khan.
     
    And Genghis just might have the all-time body count record (both in relative and absolute terms):

    Colin McEvedy, Atlas of World Population History (1978):
    China Proper: In the text, he states that the population declined by 35 million as the Mongols reduced the country to subjugation during the 13th Century. In the Chart, the population drops from 115M to 85M between 1200 and 1300 CE. (p.172)
    Iran: Charted population declined from 5.0M to 3.5M
    Afghanistan: from 2.50M to 1.75M
    Russia-in-Europe: 7.5M to 7M
    This indicates a total population decline of some 37.75 million.
     

    Replies: @Jefferson, @Charles Erwin Wilson

    “And Genghis just might have the all-time body count record (both in relative and absolute terms):”

    So Gengis Khan has murdered more people than Adolf Hitler?

    • Replies: @syonredux
    @Jefferson


    “And Genghis just might have the all-time body count record (both in relative and absolute terms):”

    So Gengis Khan has murdered more people than Adolf Hitler?
     
    Yeah. Hitler's atrocity total (civilians and POWs) is 11-12 million. And even adding on "normal" military deaths still won't get him into the 40 million range.

    Genghis Khan's real rival is Mao, who was responsible for approx 40 million deaths:

    Early purges+ "Land Reform": Approx 3 million

    Great Leap Forward Famine: 30 million plus

    Cultural Revolution: 400,000-3 million

    Deaths in the Chinese GULAG: Very uncertain. But, seeing as how Stalin racked-up around 1.6 million deaths, a minimum of 2 million deaths seems like a very conservative estimate.

    Replies: @22pp22, @Steve Sailer

  37. @syonredux
    @AndrewR


    SJWs gonna SJW. Who cares?
     
    Hang around an English Dept some time. I've had to listen to endless harangues on the racist evil of casting Scarlett Johansson in Ghost in the Shell. One colleague of mine just kept dilating on Scarlett Johansson's blue eyes, how they functioned as the "visual sign" of White Supremacy in Lucy, and now those sinister orbs will feature in Ghost....

    Replies: @Jefferson, @Expletive Deleted

    “Hang around an English Dept some time. I’ve had to listen to endless harangues on the racist evil of casting Scarlett Johansson in Ghost in the Shell. One colleague of mine just kept dilating on Scarlett Johansson’s blue eyes, how they functioned as the “visual sign” of White Supremacy in Lucy, and now those sinister orbs will feature in Ghost….”

    Most of the Asian Social Justice Warriors in The U.S complaining about Scarlett Johansson are not even Japanese, they are Chinese, Filipino, Vietnamese, and Korean.

    • Replies: @PiltdownMan
    @Jefferson


    Most of the Asian Social Justice Warriors in The U.S complaining about Scarlett Johansson are not even Japanese, they are Chinese, Filipino, Vietnamese, and Korean.
     


    Not this Chinese guy. Though he's in Hong Kong, not the US.

    https://www.youtube.com/watch?v=FL_tZxRqIys
  38. The Left Has Been More Concerned With Cultural Issues Since The Fall Of The USSR….thus they focused their agenda on gay rights and enforcing speech codes, or promoting hoaxes .

    the left has found big corporations are allies in the culture battles , helping them promote anti-racism, feminism and environmentalism . They can extort big firms to promote diversity, thus ignore the destruction of small firms and the growing power of big business. Thus the left benefits from this trend of the oligarchs growing in power.

  39. Completely off topic, but the sex imbalance in China could be another issue that results in a serious speed bump on the road to the end of history.

    http://edition.cnn.com/2016/04/17/asia/vietnamese-girls-child-brides-china/index.html

  40. @Citizen of a Silly Country
    This whole "corporations are sucking U.S. workers dry to increase profits to enrich investors" meme has a glaring hole in it: Investment returns on U.S. stocks over the past 15 years have been very unimpressive. From April 2001 to March 2016, the U.S. total stock market index returned 6.18% annually with inflation running at 2.01%, so a real return of 4.17% annual.

    If you only look at the S&P, it's worse: a real return of 3.54% annually. Historically, that number is ~7%.

    Any way that you look at it, investment returns have been pretty paltry for the past 15 years. (Returns are somewhat better if you go back 20 years which includes the tech boom; however, the returns are still a bit below their historic average.)

    What's more, valuations on U.S. stocks point to very paltry returns going forward (see Research Affiliates, AQR, and others which all point in the same direction), so there's little chance that investors will be enriched in over the next 10 to 15 years.

    I'm not saying that corporations aren't screwing people over in multiple ways, but those increased profits are not enriching investors, at least not current investors. (People investing in U.S. stocks from 1982 to 1999 were amazingly enriched due to U.S. stocks starting at cheap valuations and ending at insane valuations, but that wasn't some Soros plot, just good luck.)

    Replies: @Travis, @Forbes, @Wilkey

    Inconvenient facts will always be ignored. Sound bites work better, as Krugman illustrates–give the knuckle draggers something to chew is all that is necessary.

  41. @syonredux
    Insanely off-topic,

    The PC crowd in the US has been up in arms over the casting of Scarlett Johansson in Ghost in the Shell. People in Japan, though, seem to be OK with the idea:

    “The gap between Japan and abroad is interesting. Japan: A white person is okay, right? Abroad: We won’t forgive white-washing, cast an Asian person.”
     
    http://kotaku.com/the-japanese-internet-reacts-to-scarlet-johansson-in-gh-1771544034

    Of course, the Japanese have a long history of "Japanizing" Western plays, books, and films: Ran (King Lear), Throne of Blood (Macbeth), Yurusarezaru mono (Unforgiven ), Saidoweizu (Sideways), High and Low (King's Ransom: An 87th Precinct Mystery ), etc. So why should they complain when Japanese media is Westernized?

    Replies: @Truth, @AndrewR, @Yojimbo/Zatoichi, @NOTA

    As some of the titles are Kurosawa, finish the sentence. A remake of Maxim Gorky’s The Lower Depths (which was done in 1936 in France); Dostoevsky’s The Idiot; and of course, YOJIMBO, (largely based on Dashiell Hammett’s Prohibition era book Red Harvest). His earlier period, the 1947 film One Wonderful Sunday is a remake of a D.W. Griffith silent. Kurosawa in particular made no secret of his fascination for Western literature and films and early Japanese critics initially accused him of being “too Western”. Ran was co-produced by the French government; Francis Ford Coppola helped co-produce Kagemusha; and Dersu Uzala.

    From Wikipedia:

    “In an interview conducted for the 1999 RUSCICO DVD issue of the film, co-star Yuri Solomin stated that Kurosawa had long known of Arsenyev’s book and had planned to make a film version very early in his career in the late 1930s, but had dropped the project after realising that it had to be made in the region where the events had actually taken place.

    In 1971, Kurosawa attempted suicide during a bad period in his career, questioning his creative ability after the commercial failure of Dodes’ka-den the year before and the subsequent denial of funds for his productions by Japanese studios.[4] In 1972, Dodes’ka-den producer Yoichi Matsue and his assistant Teruyo Nogami were approached by the Soviet studio Mosfilm for an adaptation of the Russian memoir Dersu Uzala to be directed by Kurosawa. On January 1, 1973 Matsue signed the deal on the condition that Kurosawa receive full creative control over the film. Mosfilm wanted Kurosawa’s frequent collaborator Toshiro Mifune to play Dersu, but Matsue convinced them otherwise as Mifune would not be attached to such a long production. Eventually Tuva actor Maxim Munzuk was cast.[5]”

    That’s better, and now the sentence is more or less completed.

  42. @syonredux
    @Truth


    “I hate Scarlett Johansson because she appeared in that movie that made fun of Japan. She’s ugly, but she might have a face that white people like.”
     
    Seems that some people in Japan would have preferred Taylor Swift:

    “Taylor Swift would’ve been better.”
     

    Replies: @njguy73

    How about Keira Knightley? She’s got range…

  43. @Mike1
    This is my lobbying theme from a different angle Steve. You said that business moves to a "winner takes all" state. There is absolutely nothing inevitable about this though.

    All business laws and practices in the US are geared to drive small and medium businesses to the wall. An example in my industry is that Experian wont accept credit reporting unless you are an enormous lender. A friend of mine has over a thousand car loans and Experian wont even talk to him. The response of the average American is "who cares" to things like this.

    This matters because car dealers wont sell loans to anyone who doesn't report to Experian. So this guy has over $10,000,000.00 invested and has to lie to these dealers that their customers will be reported. If you tell people this story they are so disconnected from business reality they have the [email protected] to accuse my friend of a moral failure for not being honest in this situation.

    Everything in the US is like this. You can't have a white culture where business means a cupcake store or running a yoga studio and have any expectation that white people wont end up slaves in the US. The real cultural suicide is giving up on self directed income.

    Replies: @Taco, @27 year old, @anon, @Bill

    I don’t understand. Is your friend a loan collection agency?

  44. @anonymous-antiskynetist
    In the political climate shaped by Reagan, Friedman, Hayek, Jack Kemp, Thatcher, and their various epigones and explicators, it has not been kosher to criticize monopolies for at least 4 decades. Let's not forget that fact in the middle of today's oddly orthogonal political mood. In the context of American politics, calling out monopolies in a mainstream public forum would have gotten you called a leftist, despite the fact that the likes of Stockman and PCR were always about making capitalism work the way it was supposed to.

    Indeed, watching these memes go mainstream in the death throes of Kempian conservatism has been one of the main joys for this old school flat cap wearing shop steward. Seems to be happening all at once, doesn't it.

    respect as always to Sailer for being ahead of the curve.

    Replies: @Charles Erwin Wilson

    Reagan, Friedman, Hayek, Jack Kemp, Thatcher, and their various epigones and explicators, it has not been kosher to criticize monopolies for at least 4 decades.

    Of course not, at least not in the alternate parallel universe you occupy. Because the monopolies of government never take my money for illegitimate purposes nor coerce me to violate my conscience.

    • Replies: @Winthorp
    @Charles Erwin Wilson

    Private monopolies rely on government to shape regulations that raise barriers to market entry and to enforce IPR long past the point at which it incentivizes innovation, thus extracting rents from us all. Conversely, there are a few areas prone to market failure in which it makes sense to nationalize, to publicly provide public goods. Straight up government vs. not-government is an infantile fantasy.

    Replies: @anon

  45. @syonredux

    After all, Slim’s hero is Genghis Khan.
     
    And Genghis just might have the all-time body count record (both in relative and absolute terms):

    Colin McEvedy, Atlas of World Population History (1978):
    China Proper: In the text, he states that the population declined by 35 million as the Mongols reduced the country to subjugation during the 13th Century. In the Chart, the population drops from 115M to 85M between 1200 and 1300 CE. (p.172)
    Iran: Charted population declined from 5.0M to 3.5M
    Afghanistan: from 2.50M to 1.75M
    Russia-in-Europe: 7.5M to 7M
    This indicates a total population decline of some 37.75 million.
     

    Replies: @Jefferson, @Charles Erwin Wilson

    And Genghis just might have the all-time body count record (both in relative and absolute terms):

    I guess you must have missed Communism’s body count. GK may have the relative total, but the absolute total is Communism’s, and Atheism’s claim to fame.

    • Replies: @Jefferson
    @Charles Erwin Wilson

    "I guess you must have missed Communism’s body count. GK may have the relative total, but the absolute total is Communism’s, and Atheism’s claim to fame."

    Notice that no one on the Left ever compares Donald Trump to Mao Zedong, it's always Adolf Hitler. That is because the Left loves communism and any comparisons between The Donald and Mao would be seen as complimenting Trump in their eyes.

    , @syonredux
    @Charles Erwin Wilson


    I guess you must have missed Communism’s body count. GK may have the relative total, but the absolute total is Communism’s, and Atheism’s claim to fame.
     
    Well, I did say " just might." Mao's roughly 40 million death-toll definitely puts him in the running.
    , @unpc downunder
    @Charles Erwin Wilson

    Religious fundamentalists and communists have killed a lot more people than non-communist atheists. And don't confuse scientific atheists with utopian socialists and spiritual progressives who have a chip on their shoulder about organised religion.

    Replies: @David M., @Bill

  46. Love the song.

    At times I’ve had occasion to share my own fortune cookie wisdom with people:

    Money is like air. It’s easy to forget about until you don’t have any.

  47. +1 on The Brains. I loved Cyndi Lauper’s live version as a kid and did not realize it was a cover until I heard this at Delilah’s as an adult.

    Kinda sounds like early talking heads, modern lovers plus the Hooters.

    • Replies: @black sea
    @Hodag

    I'd also like to thank Steve for linking to The Brains on this one, rather than Cyndi. I saw this band live many times back in the 80s, when they played the clubs in Atlanta. They did pretty well, but they deserved a wider audience.

    Perhaps off topic, perhaps on, "Don't Give Yourself Away":

    https://www.youtube.com/watch?v=a1fytsTqzz0

    Replies: @Dirk Dagger

  48. GK may have the relative total: When you say “GK” are you talking about one of my favorite authors, Genghis Khan Chesterton?

  49. Off topic, but interesting. A Turk who holds the post of Minister of Housing in Sweden, advocates killing Armenians.

    http://www.thelocal.se/20160416/swedish-minister-photographed-with-turkish-fascists

    • Replies: @Anonymous Nephew
    @22pp22

    I don't think s/he did the advocating, it was another speaker on the same platform. He also met with members of the Grey Wolves (one of whose members shot Pope JP II IIRC).


    "You might think that these high profits imply high rates of return to investment. But corporations themselves clearly don’t see it that way: their investment in plant, equipment, and technology (as opposed to mergers and acquisitions) hasn’t taken off"

    The locus classicus for that in the UK is the rise of the "hand car wash". 20 years back the only people in Britain who paid others to hand-wash their car were owners of high-end vehicles or "concourse-finish" car enthusiasts - everyone else took them to an automated drive-through wash.

    Now auto car washes (which probably cost a fair amount - maybe six figures, certainly high five) are getting rarer and rarer - instead 4 blokes from the Balkans with buckets and sponges do it. De-automation thanks to cheap labour.


    (Where's "Money's Too Tight To Mention", one of the few songs IIRC to contain the word "pension"?)

    https://www.youtube.com/watch?v=DrUB0g8Vjgg

    , @Pericles
    @22pp22


    A Turk who holds the post of Minister of Housing in Sweden, advocates killing Armenians.

     

    Only the last of several similar PR missteps by Mehmet Kaplan, a Green by the way. He has now stepped down, voluntarily or not.

    But fear not for diversity. We still have the social-democrat "civil minster" (however that translates), Ardalan Shekarabi, a british-born of iranian parentage, otherwise mainly known for presiding over unusual amounts of corruption in the social-democrat youth movement.

    Gaze at your future, Sweden.

    Replies: @Steve Sailer, @Expletive Deleted

  50. @Travis
    @Citizen of a Silly Country

    the bubble we had in 2000 was unprecedented. The fed manipulated the markets, keeping interest rates artificially low to help reduce the impact of the stock market collapse, which was one of the causes of the housing bubble..which is another bubble we are still recovering from. the 1982-1999 stock returns includes the bubble years, thus the inflated returns.

    Replies: @Citizen of a Silly Country, @Name Withheld

    I agree, but my point is that I keep hearing about corporations doing everything under the sun to hammer workers to boost profits. And, indeed, corporate profits relative to GDP are extraordinarily high. But those profits are not enriching investors.

    A good part of the explanation is the crazy returns of the S&P from 82 to 99. That was ridiculous, and we’re still working that off. Maybe I’m looking at it backward. If it wasn’t for corporations boosting their profits recently, U.S. investors would have had far worse returns from 2000 to 2015. Corporations may not be enriching investors by screwing over workers, but they are giving investors some returns.

    • Replies: @Travis
    @Citizen of a Silly Country

    a big reason for the record profits is overseas earnings. But these profits cannot easily be brought back to America, because of our high corporate tax rate. The US taxes corporate profits higher than any other nation, thus firms keep foreign their earnings offshore instead of bringing the money back to America.

    Apple has over $200 billion in cash offshore, but they would owe $60 billion in taxes if they bring the funds back to America or try to distribute it to shareholders via dividends. Carl Icahn believes AAPL would double if it was allowed to repatriate its foreign earnings at a 10% tax rate.

    46% of the S&P earnings were from overseas operations, this has distorted the profit margins, thus the S&P earnings as a ratio to our GDP, are not actually at record highs if we exclude foreign earnings. and the cost to bring this money back is too high, so shareholders don't get much of it.

    Replies: @tris, @A Sparkling Drop of Retsyn, @anon, @Citizen of a Silly Country

  51. @Citizen of a Silly Country
    This whole "corporations are sucking U.S. workers dry to increase profits to enrich investors" meme has a glaring hole in it: Investment returns on U.S. stocks over the past 15 years have been very unimpressive. From April 2001 to March 2016, the U.S. total stock market index returned 6.18% annually with inflation running at 2.01%, so a real return of 4.17% annual.

    If you only look at the S&P, it's worse: a real return of 3.54% annually. Historically, that number is ~7%.

    Any way that you look at it, investment returns have been pretty paltry for the past 15 years. (Returns are somewhat better if you go back 20 years which includes the tech boom; however, the returns are still a bit below their historic average.)

    What's more, valuations on U.S. stocks point to very paltry returns going forward (see Research Affiliates, AQR, and others which all point in the same direction), so there's little chance that investors will be enriched in over the next 10 to 15 years.

    I'm not saying that corporations aren't screwing people over in multiple ways, but those increased profits are not enriching investors, at least not current investors. (People investing in U.S. stocks from 1982 to 1999 were amazingly enriched due to U.S. stocks starting at cheap valuations and ending at insane valuations, but that wasn't some Soros plot, just good luck.)

    Replies: @Travis, @Forbes, @Wilkey

    “What’s more, valuations on U.S. stocks point to very paltry returns going forward”

    Paltry compared to what? Compared to the return on a savings account of ca. 0.1%? Compared to the real estate collapse? In an era of low inflation, low interest rates, and low wage growth, those returns look pretty damn good.

    • Replies: @Citizen of a Silly Country
    @Wilkey

    Good point. I meant paltry compared to historical returns.

    Also, U.S. stock market returns likely - likely - will be fairly paltry compared to international - and especially, emerging markets - stocks according to current valuations. (Of course, nothing is every guaranteed; otherwise, you wouldn't get paid to play the game.)

  52. @Travis
    @Citizen of a Silly Country

    the bubble we had in 2000 was unprecedented. The fed manipulated the markets, keeping interest rates artificially low to help reduce the impact of the stock market collapse, which was one of the causes of the housing bubble..which is another bubble we are still recovering from. the 1982-1999 stock returns includes the bubble years, thus the inflated returns.

    Replies: @Citizen of a Silly Country, @Name Withheld

    “the bubble we had in 2000 was unprecedented.”

    Agree with this analysis.

  53. @Mike1
    This is my lobbying theme from a different angle Steve. You said that business moves to a "winner takes all" state. There is absolutely nothing inevitable about this though.

    All business laws and practices in the US are geared to drive small and medium businesses to the wall. An example in my industry is that Experian wont accept credit reporting unless you are an enormous lender. A friend of mine has over a thousand car loans and Experian wont even talk to him. The response of the average American is "who cares" to things like this.

    This matters because car dealers wont sell loans to anyone who doesn't report to Experian. So this guy has over $10,000,000.00 invested and has to lie to these dealers that their customers will be reported. If you tell people this story they are so disconnected from business reality they have the [email protected] to accuse my friend of a moral failure for not being honest in this situation.

    Everything in the US is like this. You can't have a white culture where business means a cupcake store or running a yoga studio and have any expectation that white people wont end up slaves in the US. The real cultural suicide is giving up on self directed income.

    Replies: @Taco, @27 year old, @anon, @Bill

    Why should anyone care about that? As an average-American who will not see even close to $10,000,000 throughout my life combined (let alone having $10mm to invest), you better believe I say “who cares”. Cry me a river for that poor guy…

    • Replies: @Mike1
    @27 year old

    Which is why I am starting to lose any interest in your welfare. You want a world where only mammoth corporations control every aspect of your life? Great, you've got it. Your apathy is typical of the US at large.
    I think the globalists might be right. If people are literally too stupid to understand that a varied business climate is hugely beneficial to workers why not grind them into the ground?

  54. @Citizen of a Silly Country
    @Travis

    I agree, but my point is that I keep hearing about corporations doing everything under the sun to hammer workers to boost profits. And, indeed, corporate profits relative to GDP are extraordinarily high. But those profits are not enriching investors.

    A good part of the explanation is the crazy returns of the S&P from 82 to 99. That was ridiculous, and we're still working that off. Maybe I'm looking at it backward. If it wasn't for corporations boosting their profits recently, U.S. investors would have had far worse returns from 2000 to 2015. Corporations may not be enriching investors by screwing over workers, but they are giving investors some returns.

    Replies: @Travis

    a big reason for the record profits is overseas earnings. But these profits cannot easily be brought back to America, because of our high corporate tax rate. The US taxes corporate profits higher than any other nation, thus firms keep foreign their earnings offshore instead of bringing the money back to America.

    Apple has over $200 billion in cash offshore, but they would owe $60 billion in taxes if they bring the funds back to America or try to distribute it to shareholders via dividends. Carl Icahn believes AAPL would double if it was allowed to repatriate its foreign earnings at a 10% tax rate.

    46% of the S&P earnings were from overseas operations, this has distorted the profit margins, thus the S&P earnings as a ratio to our GDP, are not actually at record highs if we exclude foreign earnings. and the cost to bring this money back is too high, so shareholders don’t get much of it.

    • Replies: @tris
    @Travis


    Carl Icahn believes AAPL would double if it was allowed to repatriate its foreign earnings at a 10% tax rate.
     
    It is morally reprehensible and unjustifiable that individuals are taxed higher than corporations.

    Replies: @Yngvar

    , @A Sparkling Drop of Retsyn
    @Travis

    Interesting that Apple can shield foreign sourced income from US taxation but a US citizen is taxed on worldwide income, even if they have never worked in the US.

    Replies: @Travis

    , @anon
    @Travis


    46% of the S&P earnings were from overseas operations, this has distorted the profit margins, thus the S&P earnings as a ratio to our GDP, are not actually at record highs if we exclude foreign earnings
     
    This is the hidden truth about the "free trade" agreements. They had/have nothing to do with free trade. Their sole purpose was to allow off-shore production at eastern wages while selling back to the US at western prices.

    It's all a massive scam but people don't see it because the media is owned by the people profiting from the scam and they *all* lie (except the ones who don't understand and just repeat why they're told).

    It could never last because the people working in the off-shored factories aren't paid enough to buy what they make and western demand relied on ever increasing debt (as all the demand based on the well paid factory jobs and the service jobs they supported was gone).

    (so to those "investors" who supported off-shoring in the past because they thought it would make them more money and didn't care about the millions losing their jobs - ha ha ha)


    Carl Icahn believes AAPL would double if it was allowed to repatriate its foreign earnings at a 10% tax rate.
     
    Alternatively have an economic policy directed in the national interest and not the interests of a pack of greedy sociopaths.

    #

    Economics 101: do the opposite of what the banking mafia say and things will generally work out fine.

    Replies: @Bill

    , @Citizen of a Silly Country
    @Travis

    That's not correct. It seems like it would be, but it's not. Foreign earnings are boosting profits, but even without them corporate profits to GDP is historically near its peak - though admittedly not in unseen territory.

    John Hussman did a good job of looking at foreign earnings impact here:

    http://www.hussmanfunds.com/wmc/wmc140303.htm

    Also, this article does a good job breaking things down:

    https://greenbackd.com/2013/05/01/profiting-from-foreign-profits-are-corporate-profit-margins-abnormally-elevated-or-sustainable/

  55. Donald Trump always plays Tiny Dancer by Elton John at his rallies. What do Baby Boomers who post here think of The Donald’s taste in music?

    • Replies: @Harry Baldwin
    @Jefferson

    I though Tiny Dancer was Rahm Emanuel's theme song. At least, it's one of his nicknames among the Chicago PD.

    , @Former Darfur
    @Jefferson

    I'm not for Donald because of his taste in music. I'm for Donald because he's the only one who isn't a whore or a communist.

    Probably the ability to govern effectively negatively correlates with taste in music.

    , @flyingtiger
    @Jefferson

    We Chicagoans are Confused. Tiny dancer is the theme song of our mayor.

  56. @Charles Erwin Wilson
    @syonredux


    And Genghis just might have the all-time body count record (both in relative and absolute terms):
     
    I guess you must have missed Communism's body count. GK may have the relative total, but the absolute total is Communism's, and Atheism's claim to fame.

    Replies: @Jefferson, @syonredux, @unpc downunder

    “I guess you must have missed Communism’s body count. GK may have the relative total, but the absolute total is Communism’s, and Atheism’s claim to fame.”

    Notice that no one on the Left ever compares Donald Trump to Mao Zedong, it’s always Adolf Hitler. That is because the Left loves communism and any comparisons between The Donald and Mao would be seen as complimenting Trump in their eyes.

  57. @Charles Erwin Wilson
    @syonredux


    And Genghis just might have the all-time body count record (both in relative and absolute terms):
     
    I guess you must have missed Communism's body count. GK may have the relative total, but the absolute total is Communism's, and Atheism's claim to fame.

    Replies: @Jefferson, @syonredux, @unpc downunder

    I guess you must have missed Communism’s body count. GK may have the relative total, but the absolute total is Communism’s, and Atheism’s claim to fame.

    Well, I did say ” just might.” Mao’s roughly 40 million death-toll definitely puts him in the running.

  58. @Charles Erwin Wilson
    @anonymous-antiskynetist


    Reagan, Friedman, Hayek, Jack Kemp, Thatcher, and their various epigones and explicators, it has not been kosher to criticize monopolies for at least 4 decades.
     
    Of course not, at least not in the alternate parallel universe you occupy. Because the monopolies of government never take my money for illegitimate purposes nor coerce me to violate my conscience.

    Replies: @Winthorp

    Private monopolies rely on government to shape regulations that raise barriers to market entry and to enforce IPR long past the point at which it incentivizes innovation, thus extracting rents from us all. Conversely, there are a few areas prone to market failure in which it makes sense to nationalize, to publicly provide public goods. Straight up government vs. not-government is an infantile fantasy.

    • Replies: @anon
    @Winthorp


    Straight up government vs. not-government is an infantile fantasy.
     
    It's a banking mafia deflection from the truth.

    If you followed the trail back to where it started you'd find a Soros type deal where someone from Wall St. was funding a few guys in an office.
  59. @Jefferson
    @syonredux

    "And Genghis just might have the all-time body count record (both in relative and absolute terms):"

    So Gengis Khan has murdered more people than Adolf Hitler?

    Replies: @syonredux

    “And Genghis just might have the all-time body count record (both in relative and absolute terms):”

    So Gengis Khan has murdered more people than Adolf Hitler?

    Yeah. Hitler’s atrocity total (civilians and POWs) is 11-12 million. And even adding on “normal” military deaths still won’t get him into the 40 million range.

    Genghis Khan’s real rival is Mao, who was responsible for approx 40 million deaths:

    Early purges+ “Land Reform”: Approx 3 million

    Great Leap Forward Famine: 30 million plus

    Cultural Revolution: 400,000-3 million

    Deaths in the Chinese GULAG: Very uncertain. But, seeing as how Stalin racked-up around 1.6 million deaths, a minimum of 2 million deaths seems like a very conservative estimate.

    • Replies: @22pp22
    @syonredux

    Genghis Khan depopulated huge areas of territory and slaughtered the entire population of Beijing which was then crammed with refugees. I think it's quite possible he killed more than forty million. I once read an estimate that he killed 1/6 of the world's population. I don't know how that estimate was calculated.

    A quick internet search found an estimate of 1/10 of the planet's human population. http://www.zmescience.com/ecology/genghis-khan-environment-26052014/

    , @Steve Sailer
    @syonredux

    But the Great Leap Forward famine was less intentionally intended to kill 30 million than an incredibly knuckleheaded it-seemed-like-a-good-idea-at-the-time-thing. In Chinese history, it's not uncommon for bad government, or just the breakdown of good government, to lead to immense famines. China traditionally is kind of like Ireland in the 1840s, which was closer to the Malthusian ceiling than Europeans have normally been, due to later marriage in most of Europe than in China.

    Replies: @tris, @syonredux

  60. @Hodag
    +1 on The Brains. I loved Cyndi Lauper's live version as a kid and did not realize it was a cover until I heard this at Delilah's as an adult.

    Kinda sounds like early talking heads, modern lovers plus the Hooters.

    Replies: @black sea

    I’d also like to thank Steve for linking to The Brains on this one, rather than Cyndi. I saw this band live many times back in the 80s, when they played the clubs in Atlanta. They did pretty well, but they deserved a wider audience.

    Perhaps off topic, perhaps on, “Don’t Give Yourself Away”:

    • Replies: @Dirk Dagger
    @black sea

    ¿Te estás burlando de mí? Sounds like Paul Stanley being backed up by a bad Stranglers tribute band.

  61. Scarlett schmarlett, let’s just pray Ghost in the Shell isn’t as turgid and windy as the original.

    ***

    Mongols killed 7% of the world’s population, and the creep who bought the NYT worships the Mongols’ greatest butcher. The worst part is that nobody in the media makes a peep, but if somebody “daubs” a swastika on a Jewish headstone the world will hear about it, even though the Nazis are a distant fourth behind the Mongols, the commies, and the Aztecs.

    Who? Whom?

    “And Genghis just might have the all-time body count record (both in relative and absolute terms):”

    So Gengis Khan has murdered more people than Adolf Hitler?

    Context matters. The Mongols killed roughly 7% of the world’s population using primitive implements like arrows and swords. Hitler didn’t even come close to 7% with a first-rate industrial economy at his command.

    • Replies: @Steve Sailer
    @Svigor

    But it wasn't for a lack of trying.

    Replies: @syonredux

    , @Hapalong Cassidy
    @Svigor

    Another oriental mass killer who doesn't get anywhere near the same print as Genghis Khan was Zhang Xianzhong, who ruled over Szechuan during the collapse of the Ming dynasty. He supposedly reduced the population of Szechuan from 3.1 million to around 20K, in an actual campaign of mass executions rather than disease and famine attributable to his rule. An inscription attributed to him reads:

    Heaven brings forth innumerable things to nurture man.
    Man has nothing good with which to recompense Heaven.
    Kill. Kill. Kill. Kill. Kill. Kill. Kill.

    Of course, there is debate that a lot of his story may have just been Qing propaganda. But you can't deny that nobody holds a candle to the oriental despots when it comes to carrying out mass slaughter.

    Replies: @Hodag

    , @Expletive Deleted
    @Svigor

    And further to that, it's considered thoroughly bad form to overtly worship Herr Schickelgruber in Europe, particularly in Germanic areas, and can lead to detention.
    Whereas the Chicoms positively encourage the few Mongol hillbillies left in their cult of the bloodthirsty maniac and his Borjigin clan. It is reported that not a few of these shitkickers look forward to the day he returns King Arthur-style, and leads Mongolia to world domination. I hope all those Mil Mi-24 jockeys and TOS-1 Buratino/1a Solntsepyok drivers are keeping an ear to the ground for hoofbeats, and the whistle of arrows.
    http://www.chinatouradvisors.com/members/3274/Activities%20held%20to%20celebrate%20Chinggis%20Khaan%27s%20birthday.jpg

  62. @Svigor
    Scarlett schmarlett, let's just pray Ghost in the Shell isn't as turgid and windy as the original.

    ***

    Mongols killed 7% of the world's population, and the creep who bought the NYT worships the Mongols' greatest butcher. The worst part is that nobody in the media makes a peep, but if somebody "daubs" a swastika on a Jewish headstone the world will hear about it, even though the Nazis are a distant fourth behind the Mongols, the commies, and the Aztecs.

    Who? Whom?

    “And Genghis just might have the all-time body count record (both in relative and absolute terms):”

    So Gengis Khan has murdered more people than Adolf Hitler?
     
    Context matters. The Mongols killed roughly 7% of the world's population using primitive implements like arrows and swords. Hitler didn't even come close to 7% with a first-rate industrial economy at his command.

    Replies: @Steve Sailer, @Hapalong Cassidy, @Expletive Deleted

    But it wasn’t for a lack of trying.

    • Replies: @syonredux
    @Steve Sailer


    But it wasn’t for a lack of trying.
     
    Yeah, Hitler, in our timeline, has 11-12M "atrocity" deaths (civilians+POWs) to his credit. Had he managed to implement The Hunger Plan and Generalplan Ost, his death-toll would have been in the neighborhood of 80M......

    Replies: @Jefferson

  63. @Jefferson
    Donald Trump always plays Tiny Dancer by Elton John at his rallies. What do Baby Boomers who post here think of The Donald's taste in music?
    https://youtu.be/hoskDZRLOCs

    Replies: @Harry Baldwin, @Former Darfur, @flyingtiger

    I though Tiny Dancer was Rahm Emanuel’s theme song. At least, it’s one of his nicknames among the Chicago PD.

  64. @Jefferson
    @syonredux

    "Hang around an English Dept some time. I’ve had to listen to endless harangues on the racist evil of casting Scarlett Johansson in Ghost in the Shell. One colleague of mine just kept dilating on Scarlett Johansson’s blue eyes, how they functioned as the “visual sign” of White Supremacy in Lucy, and now those sinister orbs will feature in Ghost…."

    Most of the Asian Social Justice Warriors in The U.S complaining about Scarlett Johansson are not even Japanese, they are Chinese, Filipino, Vietnamese, and Korean.

    Replies: @PiltdownMan

    Most of the Asian Social Justice Warriors in The U.S complaining about Scarlett Johansson are not even Japanese, they are Chinese, Filipino, Vietnamese, and Korean.

    Not this Chinese guy. Though he’s in Hong Kong, not the US.

  65. OT- Sadly, a young Cameroonian child had to die to construct a perfect allegory to Samantha Power’s career.

    http://www.nytimes.com/2016/04/19/world/africa/vehicle-in-convoy-of-samantha-power-kills-boy-in-cameroon.html

  66. Krugman is merely trying to revive the consensus that lived in American policy circles for nearly eight decades of the 20th century, from Teddy Roosevelt onward.

    I can recall that until the mid-1980s, a healthy anti-monopolistic awareness existed in America—in the corridors of government, in companies and in dialogue about public policy.

    Working in a bank in the 1980s in M&A, a frequent concern among senior executive deal review committee was always “will this fly with the Feds?” There was always a strong sense among bankers and business executives that the Feds were watching, omnipresent, and would hit hard at any elimination of competition that led to higher prices for consumers and thus, lower economic efficiency as a whole.

    Anti-trust regulation and policing was well funded in the Federal budget through both Republican and Democratic administrations. Politicians on both sides of the aisle saw the fostering of multiple players in markets as being an unalloyed good. The newspapers frequently ran news stories about issues of monopoly—the break-up of AT&T and the deregulation of air travel and IATA’s stranglehold on pricing took up front-page column inches for several years.

    This healthy sensibility and universal awareness withered away in the time of Ronald Reagan and Bill Clinton.

    The notion of a “free” market became subtly inverted. It went from the ideal of a market where multiple players freely competed, to one where the market was free of regulation, and thus, free to coalesce into lucrative monopolies, inefficient though these are from the viewpoint of aggregate economic activity.

    To a large extent, this happened as an unintended side effect of removing excessive governmental regulation in other areas. But to a lesser extent, it was intentional and motivated by strong pro-shareholder lobbies.

    • Replies: @tris
    @PiltdownMan


    But to a lesser extent, it was intentional and motivated by strong pro-shareholder lobbies.
     
    mmm, Robert Rubin and co. were very active in their conspiracy to deregulate banking so that their friends on Wall Street could make a killing off the sheeple. Nothing "to a lesser extent" about that:

    http://www.theguardian.com/world/2014/apr/19/wall-street-deregulation-clinton-advisers-obama

    Replies: @SFG

    , @Hodag
    @PiltdownMan

    A friend is in charge of compliance with a huge exchange, a small part of it goes by N__E. He states the Feds have absolutely no idea what is really going on and their oversight is laughable.

  67. Dirk Dagger [AKA "Chico Caldera"] says:
    @black sea
    @Hodag

    I'd also like to thank Steve for linking to The Brains on this one, rather than Cyndi. I saw this band live many times back in the 80s, when they played the clubs in Atlanta. They did pretty well, but they deserved a wider audience.

    Perhaps off topic, perhaps on, "Don't Give Yourself Away":

    https://www.youtube.com/watch?v=a1fytsTqzz0

    Replies: @Dirk Dagger

    ¿Te estás burlando de mí? Sounds like Paul Stanley being backed up by a bad Stranglers tribute band.

  68. @syonredux
    @Jefferson


    “And Genghis just might have the all-time body count record (both in relative and absolute terms):”

    So Gengis Khan has murdered more people than Adolf Hitler?
     
    Yeah. Hitler's atrocity total (civilians and POWs) is 11-12 million. And even adding on "normal" military deaths still won't get him into the 40 million range.

    Genghis Khan's real rival is Mao, who was responsible for approx 40 million deaths:

    Early purges+ "Land Reform": Approx 3 million

    Great Leap Forward Famine: 30 million plus

    Cultural Revolution: 400,000-3 million

    Deaths in the Chinese GULAG: Very uncertain. But, seeing as how Stalin racked-up around 1.6 million deaths, a minimum of 2 million deaths seems like a very conservative estimate.

    Replies: @22pp22, @Steve Sailer

    Genghis Khan depopulated huge areas of territory and slaughtered the entire population of Beijing which was then crammed with refugees. I think it’s quite possible he killed more than forty million. I once read an estimate that he killed 1/6 of the world’s population. I don’t know how that estimate was calculated.

    A quick internet search found an estimate of 1/10 of the planet’s human population. http://www.zmescience.com/ecology/genghis-khan-environment-26052014/

  69. If we’re posting songs about money, gotta post the greatest of them all. The most honest of them all, certainly.

    • Replies: @Steve Sailer
    @Cattle Guard

    https://www.youtube.com/watch?v=E-P2qL3qkzk

    The Flying Lizards, 1979

    Replies: @PiltdownMan

  70. @syonredux
    @Jefferson


    “And Genghis just might have the all-time body count record (both in relative and absolute terms):”

    So Gengis Khan has murdered more people than Adolf Hitler?
     
    Yeah. Hitler's atrocity total (civilians and POWs) is 11-12 million. And even adding on "normal" military deaths still won't get him into the 40 million range.

    Genghis Khan's real rival is Mao, who was responsible for approx 40 million deaths:

    Early purges+ "Land Reform": Approx 3 million

    Great Leap Forward Famine: 30 million plus

    Cultural Revolution: 400,000-3 million

    Deaths in the Chinese GULAG: Very uncertain. But, seeing as how Stalin racked-up around 1.6 million deaths, a minimum of 2 million deaths seems like a very conservative estimate.

    Replies: @22pp22, @Steve Sailer

    But the Great Leap Forward famine was less intentionally intended to kill 30 million than an incredibly knuckleheaded it-seemed-like-a-good-idea-at-the-time-thing. In Chinese history, it’s not uncommon for bad government, or just the breakdown of good government, to lead to immense famines. China traditionally is kind of like Ireland in the 1840s, which was closer to the Malthusian ceiling than Europeans have normally been, due to later marriage in most of Europe than in China.

    • Replies: @tris
    @Steve Sailer

    My impression was that the Great Leap Forward was a ploy which Mao used to catch his internal opposition on the wrong foot, and mobilise the youth against them. As long as it served its political purpose he couldn't care less about the fallout. Maybe he lost control somewhere along the way, but I doubt that in such an authoritarian society it was not possible to correct the outcome as desired.

    , @syonredux
    @Steve Sailer


    But the Great Leap Forward famine was less intentionally intended to kill 30 million than an incredibly knuckleheaded it-seemed-like-a-good-idea-at-the-time-thing.
     
    Yeah, it's certainly true that Mao didn't intend for the Great Leap Forward to cause a famine that killed 30M+. But his policies did lead to 30M deaths. So, he clearly bears some kind of responsibility for what happened.

    And, even if you leave out the Great Leap Forward Famine, Mao still has around 10M deaths to his credit:

    Approx 3M in Early Purges and Land Reform in the late '40s-'early '50s.

    400,000-3M in the Cultural Revolution (1966-76, with the worst of the madness occurring in '66-'68)

    Deaths in the Laogai: Lots of uncertainty about this one. I've seen estimates ranging from 15M (Harry Wu), to 20M ( Jean-Louis Margolin), to 27M ( Jung Chang and Jon Halliday ).Given that 1.6M died in the GULAG from 1929-1953, I think that it's safe to say that 2M is a very conservative estimate

    Tibet: Estimates go from a low of 300,000 to a high of around 1M.
  71. @Cattle Guard
    If we're posting songs about money, gotta post the greatest of them all. The most honest of them all, certainly.

    https://www.youtube.com/watch?v=0bf1jocbm2M

    Replies: @Steve Sailer

    The Flying Lizards, 1979

    • Replies: @PiltdownMan
    @Steve Sailer

    I see your Flying Lizards and raise you Pet Shop Boys. The anthem of the economy and the zeitgeist of the Reagan years and since.

    www.youtube.com.sg/watch?v=JuHIRrt5lCI

  72. @22pp22
    Off topic, but interesting. A Turk who holds the post of Minister of Housing in Sweden, advocates killing Armenians.

    http://www.thelocal.se/20160416/swedish-minister-photographed-with-turkish-fascists

    Replies: @Anonymous Nephew, @Pericles

    I don’t think s/he did the advocating, it was another speaker on the same platform. He also met with members of the Grey Wolves (one of whose members shot Pope JP II IIRC).

    “You might think that these high profits imply high rates of return to investment. But corporations themselves clearly don’t see it that way: their investment in plant, equipment, and technology (as opposed to mergers and acquisitions) hasn’t taken off”

    The locus classicus for that in the UK is the rise of the “hand car wash”. 20 years back the only people in Britain who paid others to hand-wash their car were owners of high-end vehicles or “concourse-finish” car enthusiasts – everyone else took them to an automated drive-through wash.

    Now auto car washes (which probably cost a fair amount – maybe six figures, certainly high five) are getting rarer and rarer – instead 4 blokes from the Balkans with buckets and sponges do it. De-automation thanks to cheap labour.

    (Where’s “Money’s Too Tight To Mention”, one of the few songs IIRC to contain the word “pension”?)

  73. @Charles Erwin Wilson
    @syonredux


    And Genghis just might have the all-time body count record (both in relative and absolute terms):
     
    I guess you must have missed Communism's body count. GK may have the relative total, but the absolute total is Communism's, and Atheism's claim to fame.

    Replies: @Jefferson, @syonredux, @unpc downunder

    Religious fundamentalists and communists have killed a lot more people than non-communist atheists. And don’t confuse scientific atheists with utopian socialists and spiritual progressives who have a chip on their shoulder about organised religion.

    • Replies: @David M.
    @unpc downunder

    So what you are saying is that it was the "bad atheists" who killed a lot of people, not the "good atheists", i.e., the "scientific atheists".

    Okay, maybe so, but that works both ways. Therefore I contend that it was the "bad religious" who killed a lot of people, not the "good religious".

    And in the short run they've had, the bad atheists have managed to do vastly more damage, per capita, than the bad religious ever did.

    Now that the non-communist good atheists are in charge, we can see how well they do. So far their fortes seem to be engendering potentially catastrophic ethnic displacement and conflict, implementing democracy through blunt trauma, and wiping out undesirables through abortion.

    , @Bill
    @unpc downunder


    non-communist atheists
     
    You mean, like, Hitler?
  74. @Jefferson
    Donald Trump always plays Tiny Dancer by Elton John at his rallies. What do Baby Boomers who post here think of The Donald's taste in music?
    https://youtu.be/hoskDZRLOCs

    Replies: @Harry Baldwin, @Former Darfur, @flyingtiger

    I’m not for Donald because of his taste in music. I’m for Donald because he’s the only one who isn’t a whore or a communist.

    Probably the ability to govern effectively negatively correlates with taste in music.

  75. @Malcolm X-Lax
    Better yet, it's money that matters in the [Latin] USA. Randy Newman with some licks from Money for Nothing Mark Knoffler. I wonder if Randy still loves LA, with his Pixar money he can probably afford to stay insulated.

    https://www.youtube.com/watch?v=n1gVL5QO9Hk

    Replies: @duncsbaby

    Money for Nothing was released in 1985. I love L.A. came out in 1983. Mark Knopfler remains blameless.

  76. @Travis
    @Citizen of a Silly Country

    a big reason for the record profits is overseas earnings. But these profits cannot easily be brought back to America, because of our high corporate tax rate. The US taxes corporate profits higher than any other nation, thus firms keep foreign their earnings offshore instead of bringing the money back to America.

    Apple has over $200 billion in cash offshore, but they would owe $60 billion in taxes if they bring the funds back to America or try to distribute it to shareholders via dividends. Carl Icahn believes AAPL would double if it was allowed to repatriate its foreign earnings at a 10% tax rate.

    46% of the S&P earnings were from overseas operations, this has distorted the profit margins, thus the S&P earnings as a ratio to our GDP, are not actually at record highs if we exclude foreign earnings. and the cost to bring this money back is too high, so shareholders don't get much of it.

    Replies: @tris, @A Sparkling Drop of Retsyn, @anon, @Citizen of a Silly Country

    Carl Icahn believes AAPL would double if it was allowed to repatriate its foreign earnings at a 10% tax rate.

    It is morally reprehensible and unjustifiable that individuals are taxed higher than corporations.

    • Replies: @Yngvar
    @tris

    No corporation have, in the span of human existence on this planet, paid any taxes.

    All costs of doing business are paid for by either the owners (less dividends), the workers (lower pay) or the customers (higher prices) and taxes are a cost.
    Tax the individuals ending up with the company's cash, but leave the firm alone. Avoiding or complying with tax regulation is not productive work, it's a waste.

  77. @PiltdownMan
    Krugman is merely trying to revive the consensus that lived in American policy circles for nearly eight decades of the 20th century, from Teddy Roosevelt onward.

    I can recall that until the mid-1980s, a healthy anti-monopolistic awareness existed in America—in the corridors of government, in companies and in dialogue about public policy.

    Working in a bank in the 1980s in M&A, a frequent concern among senior executive deal review committee was always "will this fly with the Feds?" There was always a strong sense among bankers and business executives that the Feds were watching, omnipresent, and would hit hard at any elimination of competition that led to higher prices for consumers and thus, lower economic efficiency as a whole.

    Anti-trust regulation and policing was well funded in the Federal budget through both Republican and Democratic administrations. Politicians on both sides of the aisle saw the fostering of multiple players in markets as being an unalloyed good. The newspapers frequently ran news stories about issues of monopoly—the break-up of AT&T and the deregulation of air travel and IATA's stranglehold on pricing took up front-page column inches for several years.

    This healthy sensibility and universal awareness withered away in the time of Ronald Reagan and Bill Clinton.

    The notion of a "free" market became subtly inverted. It went from the ideal of a market where multiple players freely competed, to one where the market was free of regulation, and thus, free to coalesce into lucrative monopolies, inefficient though these are from the viewpoint of aggregate economic activity.

    To a large extent, this happened as an unintended side effect of removing excessive governmental regulation in other areas. But to a lesser extent, it was intentional and motivated by strong pro-shareholder lobbies.

    Replies: @tris, @Hodag

    But to a lesser extent, it was intentional and motivated by strong pro-shareholder lobbies.

    mmm, Robert Rubin and co. were very active in their conspiracy to deregulate banking so that their friends on Wall Street could make a killing off the sheeple. Nothing “to a lesser extent” about that:

    http://www.theguardian.com/world/2014/apr/19/wall-street-deregulation-clinton-advisers-obama

    • Replies: @SFG
    @tris

    Yeah, this is why Bernie Sanders is so popular--the millennials all owe huge amounts of money to the banks, and lots of other people realize deregulation isn't any good for the rest of the population. Libertarianism's had its day. Hey, I was one back in the mid to late 90s. Their stuff's still good to read--they'll skewer both the left and right.

  78. @Steve Sailer
    @syonredux

    But the Great Leap Forward famine was less intentionally intended to kill 30 million than an incredibly knuckleheaded it-seemed-like-a-good-idea-at-the-time-thing. In Chinese history, it's not uncommon for bad government, or just the breakdown of good government, to lead to immense famines. China traditionally is kind of like Ireland in the 1840s, which was closer to the Malthusian ceiling than Europeans have normally been, due to later marriage in most of Europe than in China.

    Replies: @tris, @syonredux

    My impression was that the Great Leap Forward was a ploy which Mao used to catch his internal opposition on the wrong foot, and mobilise the youth against them. As long as it served its political purpose he couldn’t care less about the fallout. Maybe he lost control somewhere along the way, but I doubt that in such an authoritarian society it was not possible to correct the outcome as desired.

  79. @tris
    @PiltdownMan


    But to a lesser extent, it was intentional and motivated by strong pro-shareholder lobbies.
     
    mmm, Robert Rubin and co. were very active in their conspiracy to deregulate banking so that their friends on Wall Street could make a killing off the sheeple. Nothing "to a lesser extent" about that:

    http://www.theguardian.com/world/2014/apr/19/wall-street-deregulation-clinton-advisers-obama

    Replies: @SFG

    Yeah, this is why Bernie Sanders is so popular–the millennials all owe huge amounts of money to the banks, and lots of other people realize deregulation isn’t any good for the rest of the population. Libertarianism’s had its day. Hey, I was one back in the mid to late 90s. Their stuff’s still good to read–they’ll skewer both the left and right.

  80. @Svigor
    Scarlett schmarlett, let's just pray Ghost in the Shell isn't as turgid and windy as the original.

    ***

    Mongols killed 7% of the world's population, and the creep who bought the NYT worships the Mongols' greatest butcher. The worst part is that nobody in the media makes a peep, but if somebody "daubs" a swastika on a Jewish headstone the world will hear about it, even though the Nazis are a distant fourth behind the Mongols, the commies, and the Aztecs.

    Who? Whom?

    “And Genghis just might have the all-time body count record (both in relative and absolute terms):”

    So Gengis Khan has murdered more people than Adolf Hitler?
     
    Context matters. The Mongols killed roughly 7% of the world's population using primitive implements like arrows and swords. Hitler didn't even come close to 7% with a first-rate industrial economy at his command.

    Replies: @Steve Sailer, @Hapalong Cassidy, @Expletive Deleted

    Another oriental mass killer who doesn’t get anywhere near the same print as Genghis Khan was Zhang Xianzhong, who ruled over Szechuan during the collapse of the Ming dynasty. He supposedly reduced the population of Szechuan from 3.1 million to around 20K, in an actual campaign of mass executions rather than disease and famine attributable to his rule. An inscription attributed to him reads:

    Heaven brings forth innumerable things to nurture man.
    Man has nothing good with which to recompense Heaven.
    Kill. Kill. Kill. Kill. Kill. Kill. Kill.

    Of course, there is debate that a lot of his story may have just been Qing propaganda. But you can’t deny that nobody holds a candle to the oriental despots when it comes to carrying out mass slaughter.

    • Replies: @Hodag
    @Hapalong Cassidy

    Timur the Lame or Tamerlane really does not get enough credit nowadays as an Oriental despotic mass murderer of note.

    He United the steppe peoples, then conquored modern day Iran and Iraq, defeated the Egyptian Mamlukes, defeated the Turks at Ankara and took their Sultan as a pet, sacked Baghdad, left pyrimids of skulls, invaded India, sacke Dheli, more pyramids of skulls and even tried to revive the Yuan Dynasty (Mongol) in China. He easily took down the Knights Hospitalier.

    Marlowe, iirc who was a contemporary of Shakespeare wrote a play about him. Poe wrote a poem.

    Yet the self proclaimed Sword of Islam gets little play nowadays. 5% of the world's population is not chicken feed. Vulture feed, maybe.

    Replies: @Brutusale

  81. @unpc downunder
    @Charles Erwin Wilson

    Religious fundamentalists and communists have killed a lot more people than non-communist atheists. And don't confuse scientific atheists with utopian socialists and spiritual progressives who have a chip on their shoulder about organised religion.

    Replies: @David M., @Bill

    So what you are saying is that it was the “bad atheists” who killed a lot of people, not the “good atheists”, i.e., the “scientific atheists”.

    Okay, maybe so, but that works both ways. Therefore I contend that it was the “bad religious” who killed a lot of people, not the “good religious”.

    And in the short run they’ve had, the bad atheists have managed to do vastly more damage, per capita, than the bad religious ever did.

    Now that the non-communist good atheists are in charge, we can see how well they do. So far their fortes seem to be engendering potentially catastrophic ethnic displacement and conflict, implementing democracy through blunt trauma, and wiping out undesirables through abortion.

  82. @Travis
    @Citizen of a Silly Country

    a big reason for the record profits is overseas earnings. But these profits cannot easily be brought back to America, because of our high corporate tax rate. The US taxes corporate profits higher than any other nation, thus firms keep foreign their earnings offshore instead of bringing the money back to America.

    Apple has over $200 billion in cash offshore, but they would owe $60 billion in taxes if they bring the funds back to America or try to distribute it to shareholders via dividends. Carl Icahn believes AAPL would double if it was allowed to repatriate its foreign earnings at a 10% tax rate.

    46% of the S&P earnings were from overseas operations, this has distorted the profit margins, thus the S&P earnings as a ratio to our GDP, are not actually at record highs if we exclude foreign earnings. and the cost to bring this money back is too high, so shareholders don't get much of it.

    Replies: @tris, @A Sparkling Drop of Retsyn, @anon, @Citizen of a Silly Country

    Interesting that Apple can shield foreign sourced income from US taxation but a US citizen is taxed on worldwide income, even if they have never worked in the US.

    • Replies: @Travis
    @A Sparkling Drop of Retsyn

    very true...with our complex tax code corporations spend millions on accountants and lawyers to save tens of millions. Would be better for the US if they lowered the tax burden on the earnings from overseas, it would bring billions of dollars back to the US which would benefit America, instead of encouraging firms to re-invest overseas.

    Replies: @anon

  83. @syonredux
    Insanely off-topic,

    The PC crowd in the US has been up in arms over the casting of Scarlett Johansson in Ghost in the Shell. People in Japan, though, seem to be OK with the idea:

    “The gap between Japan and abroad is interesting. Japan: A white person is okay, right? Abroad: We won’t forgive white-washing, cast an Asian person.”
     
    http://kotaku.com/the-japanese-internet-reacts-to-scarlet-johansson-in-gh-1771544034

    Of course, the Japanese have a long history of "Japanizing" Western plays, books, and films: Ran (King Lear), Throne of Blood (Macbeth), Yurusarezaru mono (Unforgiven ), Saidoweizu (Sideways), High and Low (King's Ransom: An 87th Precinct Mystery ), etc. So why should they complain when Japanese media is Westernized?

    Replies: @Truth, @AndrewR, @Yojimbo/Zatoichi, @NOTA

    Japan is the living example of why cultural appropriation is a force for good in the world. Modern science, corporate organization, parliamentary democracy–all “appropriated” by the Japanese, to the massive benefit of all mankind.

    • Replies: @anon
    @NOTA

    Yes, appropriating the good bits of other people's culture is called progress (the actual kind not the SJW kind).

    One of the things I always found fascinating about the Romans is they didn't invent a lot; they mostly copied the best bits from their neighbors e.g.
    - political structure from the Etruscans
    - fighting style from the the Samnites
    - helmets from the Gauls (shields?)
    - chainmail from the Celts
    - sword and spear from Iberia (shield?)
    and put them all together thus creating a package that was superior to all their neighbors.

    The relatively low innovation combined with immense practicality is what made me think they were founded by ex soldier refugees which seeded their genetics - (just a guess).

  84. anon • Disclaimer says:

    You see, profits are at near-record highs, thanks to a substantial decline in the percentage of G.D.P. going to workers. You might think that these high profits imply high rates of return to investment. But corporations themselves clearly don’t see it that way: their investment in plant, equipment, and technology (as opposed to mergers and acquisitions) hasn’t taken off, even though they can raise money, whether by issuing bonds or by selling stocks, more cheaply than ever before.

    How can this paradox be resolved? Well, suppose that those high corporate profits don’t represent returns on investment…

    So, record corporate profits with ultra low visible investment and stagnant or declining productivity. What could that possibly mean?

    The way to resolve this not-a-paradox-at-all is to realize the data does reflect a return on investment but not the economic kind – the investment has gone into buying a media and political class that will provide them with unlimited cheap labor.

    high profits + low investment + declining productivity = mass over supply of labor

    OBVIOUSLY

    I put that in caps because it’s important to realize these people aren’t stupid despite them saying OBVIOUSLY stupid things.

    They are clever people LYING for their masters.

    In actual fact the ROI on corrupting the political class is phenomenal – millions invested in bribes leading to billions in profits. This is the whole point.

    Corrupting the political class has the highest ROI possible – for a while – but as wages = revenue the drive to lower wages eventually causes collapse followed by stagnation.

    #

    If you think about it; it’s such a waste – all these clever people and their only contribution to the world will be thinking up clever ways to lie for the benefit of a pack of sociopathic billionaires who are wrecking the global economy with their greed.

    • Agree: Bill
    • Replies: @Travis
    @anon

    the record high profits are partly due to record earnings from overseas, thus it is misleading to use the US GDP as the denominator while Corporate earnings are combined from the US and overseas earnings. Especially since earnings overseas are not easily returned to American investors due to the high tax burden.

  85. @syonredux
    @AndrewR


    SJWs gonna SJW. Who cares?
     
    Hang around an English Dept some time. I've had to listen to endless harangues on the racist evil of casting Scarlett Johansson in Ghost in the Shell. One colleague of mine just kept dilating on Scarlett Johansson's blue eyes, how they functioned as the "visual sign" of White Supremacy in Lucy, and now those sinister orbs will feature in Ghost....

    Replies: @Jefferson, @Expletive Deleted

    blue eyes, how they functioned as the “visual sign” of White Supremacy

    Just like Gollum’s

  86. anon • Disclaimer says:

    off-topic

    truth seeping out through the cracks

    http://www.telegraph.co.uk/women/life/maria-miller-im-tackling-sexual-violence-in-britains-schools—a/

    Figures published in September 2015 showed that 5,500 sexual offences were recorded in UK schools over a three year period, including 600 rapes.

    Of course they have to keep lying about the reason because lying about it when it started is how it got so bad, so admitting it now would make the backlash against the politicians worse for them.

    The anecdotal evidence suggests that access to pornography and the 24/7 nature of social media interaction has exacerbated sexual bullying.

    Such liars; it started going through the roof in areas of high immigration decades before the internet but they covered it up and now it’s everywhere.

    nb one of the reasons the truth about this is seeping out in the UK whereas it’s been worse in the US for far longer is population density; it’s simpler harder to hide this stuff in the UK than Germany, France, USA so the UK reached the covering up tipping point sooner.

    #

    some of the reasons why it’s immigration related:
    – disproportionate young males
    – some populations are r selected and r selected populations rape more
    – some populations keep their own young females inside
    – some populations view female freedom as incitement and/or a bad example
    – if males from pop A, B, C all find females from their respective population attractive and all find females from pop A attractive then there’s more competition for those females
    – some of the kids aren’t kids; they are a lot older but their parents lied about the kid’s age to get a free education
    – white SJW teachers ignore anti-white violence
    – media and politicians cover it up
    etc

    • Replies: @anon
    @anon

    I should also say to be fair that a kinder reading would be he's trying to slip a little bit of truth out under the radar.

  87. @Mike1
    This is my lobbying theme from a different angle Steve. You said that business moves to a "winner takes all" state. There is absolutely nothing inevitable about this though.

    All business laws and practices in the US are geared to drive small and medium businesses to the wall. An example in my industry is that Experian wont accept credit reporting unless you are an enormous lender. A friend of mine has over a thousand car loans and Experian wont even talk to him. The response of the average American is "who cares" to things like this.

    This matters because car dealers wont sell loans to anyone who doesn't report to Experian. So this guy has over $10,000,000.00 invested and has to lie to these dealers that their customers will be reported. If you tell people this story they are so disconnected from business reality they have the [email protected] to accuse my friend of a moral failure for not being honest in this situation.

    Everything in the US is like this. You can't have a white culture where business means a cupcake store or running a yoga studio and have any expectation that white people wont end up slaves in the US. The real cultural suicide is giving up on self directed income.

    Replies: @Taco, @27 year old, @anon, @Bill

    Yes, the corporate oligarchy say they’re on the side of capitalism but it’s not true – the real capitalism – innovation and churn – happens at the smaller scale and the bad guys are strangling that.

  88. @Mike1
    This is my lobbying theme from a different angle Steve. You said that business moves to a "winner takes all" state. There is absolutely nothing inevitable about this though.

    All business laws and practices in the US are geared to drive small and medium businesses to the wall. An example in my industry is that Experian wont accept credit reporting unless you are an enormous lender. A friend of mine has over a thousand car loans and Experian wont even talk to him. The response of the average American is "who cares" to things like this.

    This matters because car dealers wont sell loans to anyone who doesn't report to Experian. So this guy has over $10,000,000.00 invested and has to lie to these dealers that their customers will be reported. If you tell people this story they are so disconnected from business reality they have the [email protected] to accuse my friend of a moral failure for not being honest in this situation.

    Everything in the US is like this. You can't have a white culture where business means a cupcake store or running a yoga studio and have any expectation that white people wont end up slaves in the US. The real cultural suicide is giving up on self directed income.

    Replies: @Taco, @27 year old, @anon, @Bill

    ” The real cultural suicide is giving up on self directed income.”

    The real cultural suicide is muh freedom, muh rule of law, and muh bourgeois morality. I’ll bet your friend thinks the people he lends money to have an obligation to tell him the truth. I’ll bet your friend thinks the people he lends money to have an obligation to pay it back. I’ll bet your friend is bent out of shape about the government regulations he has to obey. There’s just this special exception to all that rule of law and bourgeois morality stuff when it contradicts his interests. Here’s hoping your usurer friend gets nailed for fraud.

  89. anon • Disclaimer says:
    @Travis
    @Citizen of a Silly Country

    a big reason for the record profits is overseas earnings. But these profits cannot easily be brought back to America, because of our high corporate tax rate. The US taxes corporate profits higher than any other nation, thus firms keep foreign their earnings offshore instead of bringing the money back to America.

    Apple has over $200 billion in cash offshore, but they would owe $60 billion in taxes if they bring the funds back to America or try to distribute it to shareholders via dividends. Carl Icahn believes AAPL would double if it was allowed to repatriate its foreign earnings at a 10% tax rate.

    46% of the S&P earnings were from overseas operations, this has distorted the profit margins, thus the S&P earnings as a ratio to our GDP, are not actually at record highs if we exclude foreign earnings. and the cost to bring this money back is too high, so shareholders don't get much of it.

    Replies: @tris, @A Sparkling Drop of Retsyn, @anon, @Citizen of a Silly Country

    46% of the S&P earnings were from overseas operations, this has distorted the profit margins, thus the S&P earnings as a ratio to our GDP, are not actually at record highs if we exclude foreign earnings

    This is the hidden truth about the “free trade” agreements. They had/have nothing to do with free trade. Their sole purpose was to allow off-shore production at eastern wages while selling back to the US at western prices.

    It’s all a massive scam but people don’t see it because the media is owned by the people profiting from the scam and they *all* lie (except the ones who don’t understand and just repeat why they’re told).

    It could never last because the people working in the off-shored factories aren’t paid enough to buy what they make and western demand relied on ever increasing debt (as all the demand based on the well paid factory jobs and the service jobs they supported was gone).

    (so to those “investors” who supported off-shoring in the past because they thought it would make them more money and didn’t care about the millions losing their jobs – ha ha ha)

    Carl Icahn believes AAPL would double if it was allowed to repatriate its foreign earnings at a 10% tax rate.

    Alternatively have an economic policy directed in the national interest and not the interests of a pack of greedy sociopaths.

    #

    Economics 101: do the opposite of what the banking mafia say and things will generally work out fine.

    • Agree: Travis
    • Replies: @Bill
    @anon


    so to those “investors” who supported off-shoring in the past because they thought it would make them more money and didn’t care about the millions losing their jobs – ha ha ha
     
    Um. They still have the money they made doing this. Mitt Romney won't be giving his fortune back any time soon. Nor will any of the other banksters. They didn't lose. At least not yet.
  90. @Winthorp
    @Charles Erwin Wilson

    Private monopolies rely on government to shape regulations that raise barriers to market entry and to enforce IPR long past the point at which it incentivizes innovation, thus extracting rents from us all. Conversely, there are a few areas prone to market failure in which it makes sense to nationalize, to publicly provide public goods. Straight up government vs. not-government is an infantile fantasy.

    Replies: @anon

    Straight up government vs. not-government is an infantile fantasy.

    It’s a banking mafia deflection from the truth.

    If you followed the trail back to where it started you’d find a Soros type deal where someone from Wall St. was funding a few guys in an office.

  91. @A Sparkling Drop of Retsyn
    @Travis

    Interesting that Apple can shield foreign sourced income from US taxation but a US citizen is taxed on worldwide income, even if they have never worked in the US.

    Replies: @Travis

    very true…with our complex tax code corporations spend millions on accountants and lawyers to save tens of millions. Would be better for the US if they lowered the tax burden on the earnings from overseas, it would bring billions of dollars back to the US which would benefit America, instead of encouraging firms to re-invest overseas.

    • Replies: @anon
    @Travis

    They created a mechanism which slowly leeched all the wealth from the US and siphoned it into their pockets.

    It's the loot from trashing America.

  92. @anon

    You see, profits are at near-record highs, thanks to a substantial decline in the percentage of G.D.P. going to workers. You might think that these high profits imply high rates of return to investment. But corporations themselves clearly don’t see it that way: their investment in plant, equipment, and technology (as opposed to mergers and acquisitions) hasn’t taken off, even though they can raise money, whether by issuing bonds or by selling stocks, more cheaply than ever before.

    How can this paradox be resolved? Well, suppose that those high corporate profits don’t represent returns on investment...
     
    So, record corporate profits with ultra low visible investment and stagnant or declining productivity. What could that possibly mean?

    The way to resolve this not-a-paradox-at-all is to realize the data does reflect a return on investment but not the economic kind - the investment has gone into buying a media and political class that will provide them with unlimited cheap labor.

    high profits + low investment + declining productivity = mass over supply of labor

    OBVIOUSLY

    I put that in caps because it's important to realize these people aren't stupid despite them saying OBVIOUSLY stupid things.

    They are clever people LYING for their masters.

    In actual fact the ROI on corrupting the political class is phenomenal - millions invested in bribes leading to billions in profits. This is the whole point.

    Corrupting the political class has the highest ROI possible - for a while - but as wages = revenue the drive to lower wages eventually causes collapse followed by stagnation.

    #

    If you think about it; it's such a waste - all these clever people and their only contribution to the world will be thinking up clever ways to lie for the benefit of a pack of sociopathic billionaires who are wrecking the global economy with their greed.

    Replies: @Travis

    the record high profits are partly due to record earnings from overseas, thus it is misleading to use the US GDP as the denominator while Corporate earnings are combined from the US and overseas earnings. Especially since earnings overseas are not easily returned to American investors due to the high tax burden.

  93. anon • Disclaimer says:
    @NOTA
    @syonredux

    Japan is the living example of why cultural appropriation is a force for good in the world. Modern science, corporate organization, parliamentary democracy--all "appropriated" by the Japanese, to the massive benefit of all mankind.

    Replies: @anon

    Yes, appropriating the good bits of other people’s culture is called progress (the actual kind not the SJW kind).

    One of the things I always found fascinating about the Romans is they didn’t invent a lot; they mostly copied the best bits from their neighbors e.g.
    – political structure from the Etruscans
    – fighting style from the the Samnites
    – helmets from the Gauls (shields?)
    – chainmail from the Celts
    – sword and spear from Iberia (shield?)
    and put them all together thus creating a package that was superior to all their neighbors.

    The relatively low innovation combined with immense practicality is what made me think they were founded by ex soldier refugees which seeded their genetics – (just a guess).

  94. @Svigor
    Scarlett schmarlett, let's just pray Ghost in the Shell isn't as turgid and windy as the original.

    ***

    Mongols killed 7% of the world's population, and the creep who bought the NYT worships the Mongols' greatest butcher. The worst part is that nobody in the media makes a peep, but if somebody "daubs" a swastika on a Jewish headstone the world will hear about it, even though the Nazis are a distant fourth behind the Mongols, the commies, and the Aztecs.

    Who? Whom?

    “And Genghis just might have the all-time body count record (both in relative and absolute terms):”

    So Gengis Khan has murdered more people than Adolf Hitler?
     
    Context matters. The Mongols killed roughly 7% of the world's population using primitive implements like arrows and swords. Hitler didn't even come close to 7% with a first-rate industrial economy at his command.

    Replies: @Steve Sailer, @Hapalong Cassidy, @Expletive Deleted

    And further to that, it’s considered thoroughly bad form to overtly worship Herr Schickelgruber in Europe, particularly in Germanic areas, and can lead to detention.
    Whereas the Chicoms positively encourage the few Mongol hillbillies left in their cult of the bloodthirsty maniac and his Borjigin clan. It is reported that not a few of these shitkickers look forward to the day he returns King Arthur-style, and leads Mongolia to world domination. I hope all those Mil Mi-24 jockeys and TOS-1 Buratino/1a Solntsepyok drivers are keeping an ear to the ground for hoofbeats, and the whistle of arrows.

  95. @Travis
    @A Sparkling Drop of Retsyn

    very true...with our complex tax code corporations spend millions on accountants and lawyers to save tens of millions. Would be better for the US if they lowered the tax burden on the earnings from overseas, it would bring billions of dollars back to the US which would benefit America, instead of encouraging firms to re-invest overseas.

    Replies: @anon

    They created a mechanism which slowly leeched all the wealth from the US and siphoned it into their pockets.

    It’s the loot from trashing America.

  96. anon • Disclaimer says:

    After all, Slim’s hero is Genghis Khan.

    The ruling class is always likely to be full of sociopaths cos they have an advantage in interpersonal conflict.

    Hence why it’s important they are the same blood as you – a lot of them won’t care about that either but some will (as shown by some of the Israeli billionaires) and so the average amount of harm they do will be reduced.

    • Agree: ben tillman
  97. @anon
    off-topic

    truth seeping out through the cracks

    http://www.telegraph.co.uk/women/life/maria-miller-im-tackling-sexual-violence-in-britains-schools---a/


    Figures published in September 2015 showed that 5,500 sexual offences were recorded in UK schools over a three year period, including 600 rapes.
     
    Of course they have to keep lying about the reason because lying about it when it started is how it got so bad, so admitting it now would make the backlash against the politicians worse for them.

    The anecdotal evidence suggests that access to pornography and the 24/7 nature of social media interaction has exacerbated sexual bullying.
     
    Such liars; it started going through the roof in areas of high immigration decades before the internet but they covered it up and now it's everywhere.

    nb one of the reasons the truth about this is seeping out in the UK whereas it's been worse in the US for far longer is population density; it's simpler harder to hide this stuff in the UK than Germany, France, USA so the UK reached the covering up tipping point sooner.

    #

    some of the reasons why it's immigration related:
    - disproportionate young males
    - some populations are r selected and r selected populations rape more
    - some populations keep their own young females inside
    - some populations view female freedom as incitement and/or a bad example
    - if males from pop A, B, C all find females from their respective population attractive and all find females from pop A attractive then there's more competition for those females
    - some of the kids aren't kids; they are a lot older but their parents lied about the kid's age to get a free education
    - white SJW teachers ignore anti-white violence
    - media and politicians cover it up
    etc

    Replies: @anon

    I should also say to be fair that a kinder reading would be he’s trying to slip a little bit of truth out under the radar.

  98. @Steve Sailer
    @Cattle Guard

    https://www.youtube.com/watch?v=E-P2qL3qkzk

    The Flying Lizards, 1979

    Replies: @PiltdownMan

    I see your Flying Lizards and raise you Pet Shop Boys. The anthem of the economy and the zeitgeist of the Reagan years and since.

    http://www.youtube.com.sg/watch?v=JuHIRrt5lCI

  99. it is amazing to see how big businesses are favored at the expense of mid-size firms, not just small firms are being hurt by the current system. Large and medium sized firms are vanishing in addition to smaller firms.

    From 1981-2001 there was an average of 312 IPOs per Year…since 2001 there is an average of just 106 IPOs per year. This is due to the excess regulations imposed on our public corporations, which discourages firms from going public in addition to the Big firms taking over the medium sized companies.

    Also notable that the number of public firms in America is shrinking as the Oligopolies expand their power.

    20 years ago the US had 6,890 Publicly traded forms…today we have just 3,812 publicly traded corporations. The number of publicly traded firms peaked in 1998 at 7,562. It really is amazing to see the swift drop.

    The Startup world is shrinking, too: there are simply fewer young companies in America. Startups made up 15% of all U.S. companies in 1978, compared with just 7% today. This does not bode well for America. another vicim of free tree, less American firms can survive, fewer even make the attempt at starting a new firm, knowing the risks from abroad are too high.

  100. @unpc downunder
    @Charles Erwin Wilson

    Religious fundamentalists and communists have killed a lot more people than non-communist atheists. And don't confuse scientific atheists with utopian socialists and spiritual progressives who have a chip on their shoulder about organised religion.

    Replies: @David M., @Bill

    non-communist atheists

    You mean, like, Hitler?

  101. @Steve Sailer
    @syonredux

    But the Great Leap Forward famine was less intentionally intended to kill 30 million than an incredibly knuckleheaded it-seemed-like-a-good-idea-at-the-time-thing. In Chinese history, it's not uncommon for bad government, or just the breakdown of good government, to lead to immense famines. China traditionally is kind of like Ireland in the 1840s, which was closer to the Malthusian ceiling than Europeans have normally been, due to later marriage in most of Europe than in China.

    Replies: @tris, @syonredux

    But the Great Leap Forward famine was less intentionally intended to kill 30 million than an incredibly knuckleheaded it-seemed-like-a-good-idea-at-the-time-thing.

    Yeah, it’s certainly true that Mao didn’t intend for the Great Leap Forward to cause a famine that killed 30M+. But his policies did lead to 30M deaths. So, he clearly bears some kind of responsibility for what happened.

    And, even if you leave out the Great Leap Forward Famine, Mao still has around 10M deaths to his credit:

    Approx 3M in Early Purges and Land Reform in the late ’40s-‘early ’50s.

    400,000-3M in the Cultural Revolution (1966-76, with the worst of the madness occurring in ’66-’68)

    Deaths in the Laogai: Lots of uncertainty about this one. I’ve seen estimates ranging from 15M (Harry Wu), to 20M ( Jean-Louis Margolin), to 27M ( Jung Chang and Jon Halliday ).Given that 1.6M died in the GULAG from 1929-1953, I think that it’s safe to say that 2M is a very conservative estimate

    Tibet: Estimates go from a low of 300,000 to a high of around 1M.

  102. @Steve Sailer
    @Svigor

    But it wasn't for a lack of trying.

    Replies: @syonredux

    But it wasn’t for a lack of trying.

    Yeah, Hitler, in our timeline, has 11-12M “atrocity” deaths (civilians+POWs) to his credit. Had he managed to implement The Hunger Plan and Generalplan Ost, his death-toll would have been in the neighborhood of 80M……

    • Replies: @Jefferson
    @syonredux

    "Yeah, Hitler, in our timeline, has 11-12M “atrocity” deaths (civilians+POWs) to his credit. Had he managed to implement The Hunger Plan and Generalplan Ost, his death-toll would have been in the neighborhood of 80M……"

    The number of people murdered by Adolf Hitler is the equivalent of wiping out the entire population of Ohio state or Sao Paulo city.

  103. @Jefferson
    Donald Trump always plays Tiny Dancer by Elton John at his rallies. What do Baby Boomers who post here think of The Donald's taste in music?
    https://youtu.be/hoskDZRLOCs

    Replies: @Harry Baldwin, @Former Darfur, @flyingtiger

    We Chicagoans are Confused. Tiny dancer is the theme song of our mayor.

  104. anon • Disclaimer says:

    The number of publicly traded firms peaked in 1998 at 7,562. It really is amazing to see the swift drop.

    1998/1999 is a key time as that’s when the banks were fully let off the leash in both US and UK (Glass-Steagal repealed in US and Bank of England made “independent” in the UK).

  105. @anon
    @Travis


    46% of the S&P earnings were from overseas operations, this has distorted the profit margins, thus the S&P earnings as a ratio to our GDP, are not actually at record highs if we exclude foreign earnings
     
    This is the hidden truth about the "free trade" agreements. They had/have nothing to do with free trade. Their sole purpose was to allow off-shore production at eastern wages while selling back to the US at western prices.

    It's all a massive scam but people don't see it because the media is owned by the people profiting from the scam and they *all* lie (except the ones who don't understand and just repeat why they're told).

    It could never last because the people working in the off-shored factories aren't paid enough to buy what they make and western demand relied on ever increasing debt (as all the demand based on the well paid factory jobs and the service jobs they supported was gone).

    (so to those "investors" who supported off-shoring in the past because they thought it would make them more money and didn't care about the millions losing their jobs - ha ha ha)


    Carl Icahn believes AAPL would double if it was allowed to repatriate its foreign earnings at a 10% tax rate.
     
    Alternatively have an economic policy directed in the national interest and not the interests of a pack of greedy sociopaths.

    #

    Economics 101: do the opposite of what the banking mafia say and things will generally work out fine.

    Replies: @Bill

    so to those “investors” who supported off-shoring in the past because they thought it would make them more money and didn’t care about the millions losing their jobs – ha ha ha

    Um. They still have the money they made doing this. Mitt Romney won’t be giving his fortune back any time soon. Nor will any of the other banksters. They didn’t lose. At least not yet.

  106. @Wilkey
    @Citizen of a Silly Country

    "What’s more, valuations on U.S. stocks point to very paltry returns going forward"

    Paltry compared to what? Compared to the return on a savings account of ca. 0.1%? Compared to the real estate collapse? In an era of low inflation, low interest rates, and low wage growth, those returns look pretty damn good.

    Replies: @Citizen of a Silly Country

    Good point. I meant paltry compared to historical returns.

    Also, U.S. stock market returns likely – likely – will be fairly paltry compared to international – and especially, emerging markets – stocks according to current valuations. (Of course, nothing is every guaranteed; otherwise, you wouldn’t get paid to play the game.)

  107. @Travis
    @Citizen of a Silly Country

    a big reason for the record profits is overseas earnings. But these profits cannot easily be brought back to America, because of our high corporate tax rate. The US taxes corporate profits higher than any other nation, thus firms keep foreign their earnings offshore instead of bringing the money back to America.

    Apple has over $200 billion in cash offshore, but they would owe $60 billion in taxes if they bring the funds back to America or try to distribute it to shareholders via dividends. Carl Icahn believes AAPL would double if it was allowed to repatriate its foreign earnings at a 10% tax rate.

    46% of the S&P earnings were from overseas operations, this has distorted the profit margins, thus the S&P earnings as a ratio to our GDP, are not actually at record highs if we exclude foreign earnings. and the cost to bring this money back is too high, so shareholders don't get much of it.

    Replies: @tris, @A Sparkling Drop of Retsyn, @anon, @Citizen of a Silly Country

    That’s not correct. It seems like it would be, but it’s not. Foreign earnings are boosting profits, but even without them corporate profits to GDP is historically near its peak – though admittedly not in unseen territory.

    John Hussman did a good job of looking at foreign earnings impact here:

    http://www.hussmanfunds.com/wmc/wmc140303.htm

    Also, this article does a good job breaking things down:

    https://greenbackd.com/2013/05/01/profiting-from-foreign-profits-are-corporate-profit-margins-abnormally-elevated-or-sustainable/

    • Agree: Travis
  108. @Bill Brasky
    OT. More evidence to prove your thesis of Genius T. Coates being traumatized as a bookish nerd growing up in the crack wars. Dungeons and Dragons, eh?

    "Some of the best days of my life were spent poring over the back issues of The Uncanny X-Men and The Amazing Spider-Man. As a child of the crack-riddled West Baltimore of the 1980s, I found the tales of comic books to be an escape, another reality where, very often, the weak and mocked could transform their fallibility into fantastic power. That is the premise behind the wimpy Steve Rogers mutating into Captain America, behind the nerdy Bruce Banner needing only to grow angry to make his enemies take flight, behind the bespectacled Peter Parker being transfigured by a banal spider bite into something more.

    But comic books provided something beyond escapism. Indeed, aside from hip-hop and Dungeons & Dragons, comics were my earliest influences."

    http://www.theatlantic.com/magazine/archive/2016/04/the-return-of-the-black-panther/471516/

    Replies: @Pericles

    “Yo, I hit him wimma +1 bill guisarme.”

  109. @22pp22
    Off topic, but interesting. A Turk who holds the post of Minister of Housing in Sweden, advocates killing Armenians.

    http://www.thelocal.se/20160416/swedish-minister-photographed-with-turkish-fascists

    Replies: @Anonymous Nephew, @Pericles

    A Turk who holds the post of Minister of Housing in Sweden, advocates killing Armenians.

    Only the last of several similar PR missteps by Mehmet Kaplan, a Green by the way. He has now stepped down, voluntarily or not.

    But fear not for diversity. We still have the social-democrat “civil minster” (however that translates), Ardalan Shekarabi, a british-born of iranian parentage, otherwise mainly known for presiding over unusual amounts of corruption in the social-democrat youth movement.

    Gaze at your future, Sweden.

    • Replies: @Steve Sailer
    @Pericles

    How did a Hate Israel Turk in Sweden acquire the name "Mehmet Kaplan?"

    Replies: @PiltdownMan, @Pericles, @kaplan

    , @Expletive Deleted
    @Pericles

    Seems to be a bit of a blind spot among the current set of subnormal Greenie muppets Sweden has gobbing off on its behalf. Perhaps something could be done about this, you Svens? It's getting embarrassing. If that's an "accident", I pray no "serious incident" crops up in the EU.
    http://www.thelocal.se/20160419/swedens-deputy-pm-defends-911-accident-gaffe

    Replies: @Pericles

  110. @Pericles
    @22pp22


    A Turk who holds the post of Minister of Housing in Sweden, advocates killing Armenians.

     

    Only the last of several similar PR missteps by Mehmet Kaplan, a Green by the way. He has now stepped down, voluntarily or not.

    But fear not for diversity. We still have the social-democrat "civil minster" (however that translates), Ardalan Shekarabi, a british-born of iranian parentage, otherwise mainly known for presiding over unusual amounts of corruption in the social-democrat youth movement.

    Gaze at your future, Sweden.

    Replies: @Steve Sailer, @Expletive Deleted

    How did a Hate Israel Turk in Sweden acquire the name “Mehmet Kaplan?”

    • Replies: @PiltdownMan
    @Steve Sailer


    How did a Hate Israel Turk in Sweden acquire the name “Mehmet Kaplan?”
     


    Sometimes, we can but smile in wonder and retreat to the Bard.

    There are more things in heaven and earth...
    , @Pericles
    @Steve Sailer

    I sometimes wonder about that myself, though I think the oddness of his name doesn't register to Swedes. It would be interesting to hear the story behind it.

    , @kaplan
    @Steve Sailer

    Kaplan means "tiger" in Turkish. The Turkish word is unrelated to the typically Jewish surname of the same spelling, the latter having derived from Latin via German. The Latinate German Jewish surname is cognate with Franco-English "chaplain."

    Replies: @Pericles

  111. @Pericles
    @22pp22


    A Turk who holds the post of Minister of Housing in Sweden, advocates killing Armenians.

     

    Only the last of several similar PR missteps by Mehmet Kaplan, a Green by the way. He has now stepped down, voluntarily or not.

    But fear not for diversity. We still have the social-democrat "civil minster" (however that translates), Ardalan Shekarabi, a british-born of iranian parentage, otherwise mainly known for presiding over unusual amounts of corruption in the social-democrat youth movement.

    Gaze at your future, Sweden.

    Replies: @Steve Sailer, @Expletive Deleted

    Seems to be a bit of a blind spot among the current set of subnormal Greenie muppets Sweden has gobbing off on its behalf. Perhaps something could be done about this, you Svens? It’s getting embarrassing. If that’s an “accident”, I pray no “serious incident” crops up in the EU.
    http://www.thelocal.se/20160419/swedens-deputy-pm-defends-911-accident-gaffe

    • Replies: @Pericles
    @Expletive Deleted

    That's the same Romson who cried on TV because we finally had to stop taking in more 'asylum seekers' by the way.

    http://www.dailymail.co.uk/news/article-3076863/Outrage-Swedish-deputy-prime-compares-Mediterranean-migrant-crisis-horrors-Holocaust.html

    For your reference, like in the rest of Europe, the Greens consist mostly of rebranded communists along with a smattering of useful idiots who 'care about the environment'. The new brand affords them some ideological flexibility in pursuit of their goals; thus, prior to their current efforts, they allied with the center-right to open the borders.

    Sweden actually had a less-obviously-crazed immigration policy with integration minister Nyamko Sabuni (sic), formerly of Burundi (sic). It could, I think fairly, be described as the political equivalent of drinking to keep it together rather than going on an enormous bender, which was what followed. In a fit of pique at the racist voters who had begun to appear in strength, prime minister Fredrik Reinfeldt decided to ally with the Greens to crush the Sweden Democrats and show them their racist views led only to more immigration. More! He subsequently lost the election and bounded off to who knows where. The Greens meanwhile switched sides to join the incoming center-left government, which, until opening the doors to the hordes, was notable mostly for failed virtue-signalling policies and appointing an enormous number of ministers after some lean years out of power. And here we are.

    Replies: @Pericles

  112. @PiltdownMan
    Krugman is merely trying to revive the consensus that lived in American policy circles for nearly eight decades of the 20th century, from Teddy Roosevelt onward.

    I can recall that until the mid-1980s, a healthy anti-monopolistic awareness existed in America—in the corridors of government, in companies and in dialogue about public policy.

    Working in a bank in the 1980s in M&A, a frequent concern among senior executive deal review committee was always "will this fly with the Feds?" There was always a strong sense among bankers and business executives that the Feds were watching, omnipresent, and would hit hard at any elimination of competition that led to higher prices for consumers and thus, lower economic efficiency as a whole.

    Anti-trust regulation and policing was well funded in the Federal budget through both Republican and Democratic administrations. Politicians on both sides of the aisle saw the fostering of multiple players in markets as being an unalloyed good. The newspapers frequently ran news stories about issues of monopoly—the break-up of AT&T and the deregulation of air travel and IATA's stranglehold on pricing took up front-page column inches for several years.

    This healthy sensibility and universal awareness withered away in the time of Ronald Reagan and Bill Clinton.

    The notion of a "free" market became subtly inverted. It went from the ideal of a market where multiple players freely competed, to one where the market was free of regulation, and thus, free to coalesce into lucrative monopolies, inefficient though these are from the viewpoint of aggregate economic activity.

    To a large extent, this happened as an unintended side effect of removing excessive governmental regulation in other areas. But to a lesser extent, it was intentional and motivated by strong pro-shareholder lobbies.

    Replies: @tris, @Hodag

    A friend is in charge of compliance with a huge exchange, a small part of it goes by N__E. He states the Feds have absolutely no idea what is really going on and their oversight is laughable.

  113. @Hapalong Cassidy
    @Svigor

    Another oriental mass killer who doesn't get anywhere near the same print as Genghis Khan was Zhang Xianzhong, who ruled over Szechuan during the collapse of the Ming dynasty. He supposedly reduced the population of Szechuan from 3.1 million to around 20K, in an actual campaign of mass executions rather than disease and famine attributable to his rule. An inscription attributed to him reads:

    Heaven brings forth innumerable things to nurture man.
    Man has nothing good with which to recompense Heaven.
    Kill. Kill. Kill. Kill. Kill. Kill. Kill.

    Of course, there is debate that a lot of his story may have just been Qing propaganda. But you can't deny that nobody holds a candle to the oriental despots when it comes to carrying out mass slaughter.

    Replies: @Hodag

    Timur the Lame or Tamerlane really does not get enough credit nowadays as an Oriental despotic mass murderer of note.

    He United the steppe peoples, then conquored modern day Iran and Iraq, defeated the Egyptian Mamlukes, defeated the Turks at Ankara and took their Sultan as a pet, sacked Baghdad, left pyrimids of skulls, invaded India, sacke Dheli, more pyramids of skulls and even tried to revive the Yuan Dynasty (Mongol) in China. He easily took down the Knights Hospitalier.

    Marlowe, iirc who was a contemporary of Shakespeare wrote a play about him. Poe wrote a poem.

    Yet the self proclaimed Sword of Islam gets little play nowadays. 5% of the world’s population is not chicken feed. Vulture feed, maybe.

    • Replies: @Brutusale
    @Hodag

    He made a brief comeback recently due to the notoriety of Tamerlan "Speed Bump" Tsarnaev.

  114. The interesting sentence is this one:

    You see, profits are at near-record highs, thanks to a substantial decline in the percentage of G.D.P. going to workers.

    But Krugman won’t spend any cycles thinking about why that might be true.

  115. Of course, there is debate that a lot of his story may have just been Qing propaganda. But you can’t deny that nobody holds a candle to the oriental despots when it comes to carrying out mass slaughter.

    Wouldn’t be surprised if there were some important Tiger Moms involved, too, but obscured by history and patriarchy.

    Mass murder can be a real grind.

    • Replies: @Monopthalmus
    @Svigor

    Not a tiger mom, but Ranavalona of Madagascar spilled a bit of blood in her time.

    https://en.wikipedia.org/wiki/Ranavalona_I

    For further reading, and personal enrichment, read Flashman

    https://en.wikipedia.org/wiki/Flashman%27s_Lady

    Replies: @SPMoore8

  116. @Steve Sailer
    @Pericles

    How did a Hate Israel Turk in Sweden acquire the name "Mehmet Kaplan?"

    Replies: @PiltdownMan, @Pericles, @kaplan

    How did a Hate Israel Turk in Sweden acquire the name “Mehmet Kaplan?”

    Sometimes, we can but smile in wonder and retreat to the Bard.

    There are more things in heaven and earth…

  117. @syonredux
    @Steve Sailer


    But it wasn’t for a lack of trying.
     
    Yeah, Hitler, in our timeline, has 11-12M "atrocity" deaths (civilians+POWs) to his credit. Had he managed to implement The Hunger Plan and Generalplan Ost, his death-toll would have been in the neighborhood of 80M......

    Replies: @Jefferson

    “Yeah, Hitler, in our timeline, has 11-12M “atrocity” deaths (civilians+POWs) to his credit. Had he managed to implement The Hunger Plan and Generalplan Ost, his death-toll would have been in the neighborhood of 80M……”

    The number of people murdered by Adolf Hitler is the equivalent of wiping out the entire population of Ohio state or Sao Paulo city.

  118. @Steve Sailer
    @Pericles

    How did a Hate Israel Turk in Sweden acquire the name "Mehmet Kaplan?"

    Replies: @PiltdownMan, @Pericles, @kaplan

    I sometimes wonder about that myself, though I think the oddness of his name doesn’t register to Swedes. It would be interesting to hear the story behind it.

  119. @Expletive Deleted
    @Pericles

    Seems to be a bit of a blind spot among the current set of subnormal Greenie muppets Sweden has gobbing off on its behalf. Perhaps something could be done about this, you Svens? It's getting embarrassing. If that's an "accident", I pray no "serious incident" crops up in the EU.
    http://www.thelocal.se/20160419/swedens-deputy-pm-defends-911-accident-gaffe

    Replies: @Pericles

    That’s the same Romson who cried on TV because we finally had to stop taking in more ‘asylum seekers’ by the way.

    http://www.dailymail.co.uk/news/article-3076863/Outrage-Swedish-deputy-prime-compares-Mediterranean-migrant-crisis-horrors-Holocaust.html

    For your reference, like in the rest of Europe, the Greens consist mostly of rebranded communists along with a smattering of useful idiots who ‘care about the environment’. The new brand affords them some ideological flexibility in pursuit of their goals; thus, prior to their current efforts, they allied with the center-right to open the borders.

    Sweden actually had a less-obviously-crazed immigration policy with integration minister Nyamko Sabuni (sic), formerly of Burundi (sic). It could, I think fairly, be described as the political equivalent of drinking to keep it together rather than going on an enormous bender, which was what followed. In a fit of pique at the racist voters who had begun to appear in strength, prime minister Fredrik Reinfeldt decided to ally with the Greens to crush the Sweden Democrats and show them their racist views led only to more immigration. More! He subsequently lost the election and bounded off to who knows where. The Greens meanwhile switched sides to join the incoming center-left government, which, until opening the doors to the hordes, was notable mostly for failed virtue-signalling policies and appointing an enormous number of ministers after some lean years out of power. And here we are.

    • Replies: @Pericles
    @Pericles

    Romson also at the time sensitively tweeted "the current events in Paris may hinder the next climate summit in December". Oh, those events.

    Replies: @Pericles

  120. @Pericles
    @Expletive Deleted

    That's the same Romson who cried on TV because we finally had to stop taking in more 'asylum seekers' by the way.

    http://www.dailymail.co.uk/news/article-3076863/Outrage-Swedish-deputy-prime-compares-Mediterranean-migrant-crisis-horrors-Holocaust.html

    For your reference, like in the rest of Europe, the Greens consist mostly of rebranded communists along with a smattering of useful idiots who 'care about the environment'. The new brand affords them some ideological flexibility in pursuit of their goals; thus, prior to their current efforts, they allied with the center-right to open the borders.

    Sweden actually had a less-obviously-crazed immigration policy with integration minister Nyamko Sabuni (sic), formerly of Burundi (sic). It could, I think fairly, be described as the political equivalent of drinking to keep it together rather than going on an enormous bender, which was what followed. In a fit of pique at the racist voters who had begun to appear in strength, prime minister Fredrik Reinfeldt decided to ally with the Greens to crush the Sweden Democrats and show them their racist views led only to more immigration. More! He subsequently lost the election and bounded off to who knows where. The Greens meanwhile switched sides to join the incoming center-left government, which, until opening the doors to the hordes, was notable mostly for failed virtue-signalling policies and appointing an enormous number of ministers after some lean years out of power. And here we are.

    Replies: @Pericles

    Romson also at the time sensitively tweeted “the current events in Paris may hinder the next climate summit in December”. Oh, those events.

    • Replies: @Pericles
    @Pericles

    It turns out former minister Kaplan may have had, as someone sourly commented, deeper contacts with the Turkish government than with the Swedish. Apparently this wasn't known to the main coalition partner, the Social-Democrats. Oh dear.

    (Google Translate, so please excuse the awkwardness.)


    Swedish Housing Minister Mehmet Kaplan (Green Party) has for several years had very close contact with a person who works for the Turkish regime. ...
    On the fourth row from Erdoğan is a Swedish, he called Rafet Candemir and ecologist from Skarholmen in Stockholm. He is selected by the Turkish state to be Sweden's representative in the council when just formed.

    The meeting is an important part of the new foreign policy that Turkey has adopted. ...

    Since a few years, Turkey has focused on tying emigrated Turkish citizens closer to the state. By supporting them to success and high positions in society they hope to take advantage of them. They can influence other countries' attitude towards Turkey. For example, on the question of EU membership.
    ...
    This is just one of the many times they met. A survey by Mehmet Kaplan's contacts with him shows that since the meeting in Hand mosque in 2013 have appeared together at least 17 times. They have represented Sweden together on trips abroad, received politicians from Erdogan's party in Sweden and gone on nice parties together.

    The advice Rafet Candemir included in the reports directly to the Prime Minister's office in Turkey and has repeatedly had meetings with the top political leadership of the country. They are controlled and funded by the government of Recep Tayyip Erdogan and his AKP party in the lead. A party slated for an increasingly undemocratic politics. In Turkey, the imprisoned dissidents, independent media (etc etc)

     

    http://www.svt.se/nyheter/inrikes/kaplan-umgas-med-erdo-ans-man-i-sverige

    (SVT is the state-sponsored national broadcaster.)

    New images show that Kaplan for several years had very close contact with a person who works for the Turkish regime. According to SVT, they have met at least 17 times in the last three years and together they have represented Sweden in international travel.
    - It was very troubling information, especially given the conversations that the Prime Minister had with Kaplan during the week, says a government source.
    Mehmet Kaplan has repeatedly in recent days asked to tell us about all the meetings, trips and talks to various reasons is questionable. But Kaplan did not tell me about this contact.
    - It is amazing that he put himself in this seat, says an informant.
    Exactly at 12.30 on Monday went Stefan Löfven with firm steps on stage in front of the large media call-in Bella Venezia and told Mehmet Kaplan left the government. Prime Minister stresses when it is Kaplan's own actions that led to the decision:
    - Mehmet Kaplan makes an overall assessment that his actions in relation to external religious and political organizations has led to a discussion that stand in the way of his duties as a minister, and I share that assessment, the Prime Minister said.

     

    http://www.expressen.se/nyheter/sa-gick-det-till-nar-kaplan-sparkades/

    (Expressen is a major Bonniers-owned newspaper.)

    So ... Kaplan was basically a fricking Turkish agent? I'm looking forward to seeing where this goes.

    Replies: @Pericles

  121. @Svigor

    Of course, there is debate that a lot of his story may have just been Qing propaganda. But you can’t deny that nobody holds a candle to the oriental despots when it comes to carrying out mass slaughter.
     
    Wouldn't be surprised if there were some important Tiger Moms involved, too, but obscured by history and patriarchy.

    Mass murder can be a real grind.

    Replies: @Monopthalmus

    Not a tiger mom, but Ranavalona of Madagascar spilled a bit of blood in her time.

    https://en.wikipedia.org/wiki/Ranavalona_I

    For further reading, and personal enrichment, read Flashman

    https://en.wikipedia.org/wiki/Flashman%27s_Lady

    • Replies: @SPMoore8
    @Monopthalmus

    Fascinating article, but technically speaking Ranavalona wasn't spilling blood, she was having her subjects eat a poisonous nut with three pieces of chicken skin, and if they died from the poison or failed to vomit all three pieces of chicken, they were guilty, otherwise, they were innocent. Saves a lot on defense costs.

    Further reading about Madagascar suggests that it will be heavily deforested in the next couple of decades, and will in effect turn into a gigantic Haiti. This will of course kill off all the wildlife unique to the island as well. But, not to worry, we can always build more apartments.

  122. @tris
    @Travis


    Carl Icahn believes AAPL would double if it was allowed to repatriate its foreign earnings at a 10% tax rate.
     
    It is morally reprehensible and unjustifiable that individuals are taxed higher than corporations.

    Replies: @Yngvar

    No corporation have, in the span of human existence on this planet, paid any taxes.

    All costs of doing business are paid for by either the owners (less dividends), the workers (lower pay) or the customers (higher prices) and taxes are a cost.
    Tax the individuals ending up with the company’s cash, but leave the firm alone. Avoiding or complying with tax regulation is not productive work, it’s a waste.

  123. @Hodag
    @Hapalong Cassidy

    Timur the Lame or Tamerlane really does not get enough credit nowadays as an Oriental despotic mass murderer of note.

    He United the steppe peoples, then conquored modern day Iran and Iraq, defeated the Egyptian Mamlukes, defeated the Turks at Ankara and took their Sultan as a pet, sacked Baghdad, left pyrimids of skulls, invaded India, sacke Dheli, more pyramids of skulls and even tried to revive the Yuan Dynasty (Mongol) in China. He easily took down the Knights Hospitalier.

    Marlowe, iirc who was a contemporary of Shakespeare wrote a play about him. Poe wrote a poem.

    Yet the self proclaimed Sword of Islam gets little play nowadays. 5% of the world's population is not chicken feed. Vulture feed, maybe.

    Replies: @Brutusale

    He made a brief comeback recently due to the notoriety of Tamerlan “Speed Bump” Tsarnaev.

  124. @Pericles
    @Pericles

    Romson also at the time sensitively tweeted "the current events in Paris may hinder the next climate summit in December". Oh, those events.

    Replies: @Pericles

    It turns out former minister Kaplan may have had, as someone sourly commented, deeper contacts with the Turkish government than with the Swedish. Apparently this wasn’t known to the main coalition partner, the Social-Democrats. Oh dear.

    (Google Translate, so please excuse the awkwardness.)

    Swedish Housing Minister Mehmet Kaplan (Green Party) has for several years had very close contact with a person who works for the Turkish regime. …
    On the fourth row from Erdoğan is a Swedish, he called Rafet Candemir and ecologist from Skarholmen in Stockholm. He is selected by the Turkish state to be Sweden’s representative in the council when just formed.

    The meeting is an important part of the new foreign policy that Turkey has adopted. …

    Since a few years, Turkey has focused on tying emigrated Turkish citizens closer to the state. By supporting them to success and high positions in society they hope to take advantage of them. They can influence other countries’ attitude towards Turkey. For example, on the question of EU membership.

    This is just one of the many times they met. A survey by Mehmet Kaplan’s contacts with him shows that since the meeting in Hand mosque in 2013 have appeared together at least 17 times. They have represented Sweden together on trips abroad, received politicians from Erdogan’s party in Sweden and gone on nice parties together.

    The advice Rafet Candemir included in the reports directly to the Prime Minister’s office in Turkey and has repeatedly had meetings with the top political leadership of the country. They are controlled and funded by the government of Recep Tayyip Erdogan and his AKP party in the lead. A party slated for an increasingly undemocratic politics. In Turkey, the imprisoned dissidents, independent media (etc etc)

    http://www.svt.se/nyheter/inrikes/kaplan-umgas-med-erdo-ans-man-i-sverige

    (SVT is the state-sponsored national broadcaster.)

    New images show that Kaplan for several years had very close contact with a person who works for the Turkish regime. According to SVT, they have met at least 17 times in the last three years and together they have represented Sweden in international travel.
    – It was very troubling information, especially given the conversations that the Prime Minister had with Kaplan during the week, says a government source.
    Mehmet Kaplan has repeatedly in recent days asked to tell us about all the meetings, trips and talks to various reasons is questionable. But Kaplan did not tell me about this contact.
    – It is amazing that he put himself in this seat, says an informant.
    Exactly at 12.30 on Monday went Stefan Löfven with firm steps on stage in front of the large media call-in Bella Venezia and told Mehmet Kaplan left the government. Prime Minister stresses when it is Kaplan’s own actions that led to the decision:
    – Mehmet Kaplan makes an overall assessment that his actions in relation to external religious and political organizations has led to a discussion that stand in the way of his duties as a minister, and I share that assessment, the Prime Minister said.

    http://www.expressen.se/nyheter/sa-gick-det-till-nar-kaplan-sparkades/

    (Expressen is a major Bonniers-owned newspaper.)

    So … Kaplan was basically a fricking Turkish agent? I’m looking forward to seeing where this goes.

    • Replies: @Pericles
    @Pericles

    In the meantime, one Yasri Khan was proposed for the Green party steering committee, but has decided not to run after indignant reports that he refused to shake hands with a female journalist. He responded that a liberal society should leave this up to personal choice, but no dice.

    http://www.dn.se/nyheter/politik/yasri-khan-mp-ville-inte-ta-kvinnor-i-hand-tar-tillbaka-kandidatur/

    Fantastic. Once more gaze upon the Sweden of the future, though all these revelations all of a sudden make me think there could be a bit of a power struggle going on inside the Greens.

    Replies: @Expletive Deleted

  125. @27 year old
    @Mike1

    Why should anyone care about that? As an average-American who will not see even close to $10,000,000 throughout my life combined (let alone having $10mm to invest), you better believe I say "who cares". Cry me a river for that poor guy...

    Replies: @Mike1

    Which is why I am starting to lose any interest in your welfare. You want a world where only mammoth corporations control every aspect of your life? Great, you’ve got it. Your apathy is typical of the US at large.
    I think the globalists might be right. If people are literally too stupid to understand that a varied business climate is hugely beneficial to workers why not grind them into the ground?

  126. @Pericles
    @Pericles

    It turns out former minister Kaplan may have had, as someone sourly commented, deeper contacts with the Turkish government than with the Swedish. Apparently this wasn't known to the main coalition partner, the Social-Democrats. Oh dear.

    (Google Translate, so please excuse the awkwardness.)


    Swedish Housing Minister Mehmet Kaplan (Green Party) has for several years had very close contact with a person who works for the Turkish regime. ...
    On the fourth row from Erdoğan is a Swedish, he called Rafet Candemir and ecologist from Skarholmen in Stockholm. He is selected by the Turkish state to be Sweden's representative in the council when just formed.

    The meeting is an important part of the new foreign policy that Turkey has adopted. ...

    Since a few years, Turkey has focused on tying emigrated Turkish citizens closer to the state. By supporting them to success and high positions in society they hope to take advantage of them. They can influence other countries' attitude towards Turkey. For example, on the question of EU membership.
    ...
    This is just one of the many times they met. A survey by Mehmet Kaplan's contacts with him shows that since the meeting in Hand mosque in 2013 have appeared together at least 17 times. They have represented Sweden together on trips abroad, received politicians from Erdogan's party in Sweden and gone on nice parties together.

    The advice Rafet Candemir included in the reports directly to the Prime Minister's office in Turkey and has repeatedly had meetings with the top political leadership of the country. They are controlled and funded by the government of Recep Tayyip Erdogan and his AKP party in the lead. A party slated for an increasingly undemocratic politics. In Turkey, the imprisoned dissidents, independent media (etc etc)

     

    http://www.svt.se/nyheter/inrikes/kaplan-umgas-med-erdo-ans-man-i-sverige

    (SVT is the state-sponsored national broadcaster.)

    New images show that Kaplan for several years had very close contact with a person who works for the Turkish regime. According to SVT, they have met at least 17 times in the last three years and together they have represented Sweden in international travel.
    - It was very troubling information, especially given the conversations that the Prime Minister had with Kaplan during the week, says a government source.
    Mehmet Kaplan has repeatedly in recent days asked to tell us about all the meetings, trips and talks to various reasons is questionable. But Kaplan did not tell me about this contact.
    - It is amazing that he put himself in this seat, says an informant.
    Exactly at 12.30 on Monday went Stefan Löfven with firm steps on stage in front of the large media call-in Bella Venezia and told Mehmet Kaplan left the government. Prime Minister stresses when it is Kaplan's own actions that led to the decision:
    - Mehmet Kaplan makes an overall assessment that his actions in relation to external religious and political organizations has led to a discussion that stand in the way of his duties as a minister, and I share that assessment, the Prime Minister said.

     

    http://www.expressen.se/nyheter/sa-gick-det-till-nar-kaplan-sparkades/

    (Expressen is a major Bonniers-owned newspaper.)

    So ... Kaplan was basically a fricking Turkish agent? I'm looking forward to seeing where this goes.

    Replies: @Pericles

    In the meantime, one Yasri Khan was proposed for the Green party steering committee, but has decided not to run after indignant reports that he refused to shake hands with a female journalist. He responded that a liberal society should leave this up to personal choice, but no dice.

    http://www.dn.se/nyheter/politik/yasri-khan-mp-ville-inte-ta-kvinnor-i-hand-tar-tillbaka-kandidatur/

    Fantastic. Once more gaze upon the Sweden of the future, though all these revelations all of a sudden make me think there could be a bit of a power struggle going on inside the Greens.

    • Replies: @Expletive Deleted
    @Pericles

    Ye gods. What a mess. And I thought the Brit political classes were hopelessly Trojan-horsed and compromised!
    I suppose the Eye of Sauron treatment, constant digging, doorstepping and (internet)media exposure, for every squeak and scuttle of these characters will make them less-valued assets, as they don't give the impression of being all that smart, and don't even have the wit not to whip it out and wave it in peoples' faces.

    That Shekarabi guy needs a lot of magnifying glass, he's only a Manc on a technicality. So long ago that his folks had left B.F. (before Ferguson) and Dave Sexton or Big Ron was the manager. Or Malcolm Allison, if one of the Others, i.e. in prehistoric times.
    And where did they seek refuge from the bestial paganism of the Traffordians?
    Iran. That's right. The newly Ayatollahed Eye-ran. Couldn't get over fast enough with their baby to have him raised right.
    How many other bang-obvious foreign agents occupy the upper reaches of the Swedish gov. now? China? Russians certainly, but who? Who was the Burundi woman (=Zairian lefty family in exile from Mobutu) working for? Mad Bob Mugabe?
    Enough for ten Le Carre novels in the Green Party alone. Makes Bron look straightforward and normal.

    Replies: @Pericles

  127. @Monopthalmus
    @Svigor

    Not a tiger mom, but Ranavalona of Madagascar spilled a bit of blood in her time.

    https://en.wikipedia.org/wiki/Ranavalona_I

    For further reading, and personal enrichment, read Flashman

    https://en.wikipedia.org/wiki/Flashman%27s_Lady

    Replies: @SPMoore8

    Fascinating article, but technically speaking Ranavalona wasn’t spilling blood, she was having her subjects eat a poisonous nut with three pieces of chicken skin, and if they died from the poison or failed to vomit all three pieces of chicken, they were guilty, otherwise, they were innocent. Saves a lot on defense costs.

    Further reading about Madagascar suggests that it will be heavily deforested in the next couple of decades, and will in effect turn into a gigantic Haiti. This will of course kill off all the wildlife unique to the island as well. But, not to worry, we can always build more apartments.

  128. @Steve Sailer
    @Pericles

    How did a Hate Israel Turk in Sweden acquire the name "Mehmet Kaplan?"

    Replies: @PiltdownMan, @Pericles, @kaplan

    Kaplan means “tiger” in Turkish. The Turkish word is unrelated to the typically Jewish surname of the same spelling, the latter having derived from Latin via German. The Latinate German Jewish surname is cognate with Franco-English “chaplain.”

    • Replies: @Pericles
    @kaplan

    OK, that explains it.

  129. @Pericles
    @Pericles

    In the meantime, one Yasri Khan was proposed for the Green party steering committee, but has decided not to run after indignant reports that he refused to shake hands with a female journalist. He responded that a liberal society should leave this up to personal choice, but no dice.

    http://www.dn.se/nyheter/politik/yasri-khan-mp-ville-inte-ta-kvinnor-i-hand-tar-tillbaka-kandidatur/

    Fantastic. Once more gaze upon the Sweden of the future, though all these revelations all of a sudden make me think there could be a bit of a power struggle going on inside the Greens.

    Replies: @Expletive Deleted

    Ye gods. What a mess. And I thought the Brit political classes were hopelessly Trojan-horsed and compromised!
    I suppose the Eye of Sauron treatment, constant digging, doorstepping and (internet)media exposure, for every squeak and scuttle of these characters will make them less-valued assets, as they don’t give the impression of being all that smart, and don’t even have the wit not to whip it out and wave it in peoples’ faces.

    That Shekarabi guy needs a lot of magnifying glass, he’s only a Manc on a technicality. So long ago that his folks had left B.F. (before Ferguson) and Dave Sexton or Big Ron was the manager. Or Malcolm Allison, if one of the Others, i.e. in prehistoric times.
    And where did they seek refuge from the bestial paganism of the Traffordians?
    Iran. That’s right. The newly Ayatollahed Eye-ran. Couldn’t get over fast enough with their baby to have him raised right.
    How many other bang-obvious foreign agents occupy the upper reaches of the Swedish gov. now? China? Russians certainly, but who? Who was the Burundi woman (=Zairian lefty family in exile from Mobutu) working for? Mad Bob Mugabe?
    Enough for ten Le Carre novels in the Green Party alone. Makes Bron look straightforward and normal.

    • Replies: @Pericles
    @Expletive Deleted

    Two cheers for old Sweden. Du gamla, du fria, ... One of the difficulties is that, like so many other countries in the West, we have quietly gone downhill in so many ways at once. Where to start fixing this mess?

  130. Speaking of money changes: Harriet Tubman to appear on $20 bill, while Alexander Hamilton remains on $10 bill
    I dunno. I think Marilyn Monroe would have been hotter.

  131. @kaplan
    @Steve Sailer

    Kaplan means "tiger" in Turkish. The Turkish word is unrelated to the typically Jewish surname of the same spelling, the latter having derived from Latin via German. The Latinate German Jewish surname is cognate with Franco-English "chaplain."

    Replies: @Pericles

    OK, that explains it.

  132. @Expletive Deleted
    @Pericles

    Ye gods. What a mess. And I thought the Brit political classes were hopelessly Trojan-horsed and compromised!
    I suppose the Eye of Sauron treatment, constant digging, doorstepping and (internet)media exposure, for every squeak and scuttle of these characters will make them less-valued assets, as they don't give the impression of being all that smart, and don't even have the wit not to whip it out and wave it in peoples' faces.

    That Shekarabi guy needs a lot of magnifying glass, he's only a Manc on a technicality. So long ago that his folks had left B.F. (before Ferguson) and Dave Sexton or Big Ron was the manager. Or Malcolm Allison, if one of the Others, i.e. in prehistoric times.
    And where did they seek refuge from the bestial paganism of the Traffordians?
    Iran. That's right. The newly Ayatollahed Eye-ran. Couldn't get over fast enough with their baby to have him raised right.
    How many other bang-obvious foreign agents occupy the upper reaches of the Swedish gov. now? China? Russians certainly, but who? Who was the Burundi woman (=Zairian lefty family in exile from Mobutu) working for? Mad Bob Mugabe?
    Enough for ten Le Carre novels in the Green Party alone. Makes Bron look straightforward and normal.

    Replies: @Pericles

    Two cheers for old Sweden. Du gamla, du fria, … One of the difficulties is that, like so many other countries in the West, we have quietly gone downhill in so many ways at once. Where to start fixing this mess?

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