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Final Trump Tax Bill Version Released

Posted by The Mighty Buzzard on Friday December 15 2017, @11:19PM (#2860)
1 Comment
News

The sausage is made. You may now officially commence the bitching that you prepared long before you knew what was in the bill.

Cheeto Jesus, Speaker of Truth

Posted by The Mighty Buzzard on Friday December 08 2017, @04:32PM (#2833)
16 Comments
News

CNN ran an article yesterday full of butthurt that Cheeto Jesus has been keeping too many of his campaign promises. I figured I'd share it with you lot so the regressive progtards among you could share in the butthurt too.

A politician who actually does what he told voters he would do seems almost unfathomable in Washington, a town of broken promises. For Donald Trump, being a president who delivers is especially crucial, since it's one of the golden keys to his so far unbreakable bond with supporters.

The need to live up to that image helps explain why Trump, who is under ever-increasing pressure from the Russia investigation, on Wednesday recognized Jerusalem as Israel's capital despite the widely acknowledged risks.

It was just the latest instance of the President obstinately honoring the bumper-sticker vows he made to his ultra-loyal supporters -- even those that horrify the political and foreign policy establishment, media critics and allied leaders.

Have a nice weekend argument. I may or may not have time to step in and egg things on further, we'll just have to wait and see.

Jumped sharks sector surging in Venezuela

Posted by khallow on Monday December 04 2017, @06:16AM (#2818)
13 Comments
Rehash
Venezuela continues to find sharks to jump with this latest bit of news.

Venezuelan President Nicolas Maduro looked to the world of digital currency to circumvent U.S.-led financial sanctions, announcing on Sunday the launch of the “petro” backed by oil reserves to shore up a collapsed economy.

The leftist leader offered few specifics about the currency launch or how the struggling OPEC member would pull off such a feat, but he declared to cheers that “the 21st century has arrived!”

“Venezuela will create a cryptocurrency,” backed by oil, gas, gold and diamond reserves, Maduro said in his regular Sunday televised broadcast, a five-hour showcase of Christmas songs and dancing.

Didn't Venezuela used to have a fiat currency backed by oil? Why would anyone believe that this new fiat currency, despite having cryptocurrency cooties, will fare any better? I bet that the public nature of the block chain is a significant part of the reason they went with this scheme. You know to prevent the people of Venezuela from buying the things they need on the black market. Like anyone would use the "petro" for that anyway.

And we may also have a sign that the bubble of cryptocurrencies is reaching an unsustainable high, if we have deadbeat dictators grasping at this particular bit of straw.

Monetary Musings

Posted by The Mighty Buzzard on Saturday November 25 2017, @03:49AM (#2779)
32 Comments
Business

Growing up, check cashing policy was always one of the following. Cash it at your bank, cash it at the bank it was drawn on, or pay someone to cash it for you. This arrangement worked well enough for me for several decades.

Fast forward to my move a few years ago to TN. Now you'd expect that banks are banks and they're really not going to change all that much, yeah? Turns out banks in TN (at least some of them) will charge you to cash a check drawn on an account with them. You heard that right; they literally refuse to honor checks written by their account holders for the full amount.

Now me, I don't do the whole banking thing, so I can't go up and chew them a new ass as an account holder. I think I'm instead going to have The Roomie write me a check for twenty bucks and call the police when they refuse to honor it in full then take them to small claims court when the police ask me to leave. Repeating that once a week sound about right?

US CFPB at it again

Posted by khallow on Saturday November 25 2017, @01:33AM (#2778)
6 Comments
News
Here's yet another reason to put a stake through the heart of the Consumer Financial Protection Bureau (CFPB).

Richard Cordray announced that Friday would be his last day leading the Consumer Financial Protection Bureau and named one of his lieutenants to immediately take over as acting director, setting up a potential standoff with the Trump administration over the controversial agency’s leadership.

In a memo to the consumer watchdog’s employees, Cordray said his current chief of staff, Leandra English, would become deputy director and automatically rise to acting director when he leaves. English has held several leadership roles under Cordray, a Barack Obama appointee who was the CFPB’s first-ever director.

English’s surprise promotion could complicate President Donald Trump’s plans to start remaking the CFPB, an agency that Republican lawmakers say has burdened banks with unnecessary rules that have hurt lending. Cordray announced last week that he would step down at the end of November, prompting administration officials to consider temporarily installing White House budget director Mick Mulvaney atop the agency, people familiar with the discussions have said.

This is related to the huge reason the CFPB should be ended, namely, that it is a regulatory agency which isn't under the control of the president of the US or funded by Congress (it's funded by the Federal Reserve). "Consumer protection" is not a good excuse for bad law.

And let consider why Trump isn't pushing harder to reign this agency in. One possible reason is that he can play the same game at the end of his term(s) by having his future appointee throw roadblocks in the way of any future administration for years (since the position is for five years, that means two years through to 2022, if Trump serves only one term or three years through to 2027, if Trump gets reelected in 2020 through some brazen display of incompetence or worst on the part of his Democrat foe).

The universe blew my mind again (science!)

Posted by Yog-Yogguth on Tuesday November 21 2017, @02:46AM (#2768)
10 Comments
Science

The idea of an "(in)finite unbound"¹ universe isn't new to me at all (insert video game reference here ...Asteroids uses wraparound) but the last bit was a step I hadn't seen or taken myself and it blew my mind.

"If the Universe is finite but unbounded, it is also possible that the Universe is smaller than the observable universe. What are seen as very distant galaxies may actually be duplicate images of nearby galaxies, formed by light that has circumnavigated the Universe. It is difficult to test this hypothesis experimentally because different images of a galaxy would show different eras in its history, and consequently might appear quite different."

From Wikipedia and NextBigFuture's rearrangement. I put the last bit in bold for clarity.

The article of the quote argues that the size of the universe including the size of the universe that we currently observe are much larger than one commonly would think due to expansion i.e. one has to add the expansion during age of the light gathered from a distant object onto the redshift distance to the object. Thus the universe is much larger than what we usually say. Seems legit to me :)

But the main point for me was the quote above, I never thought about how the same galaxies etc. would look very different each time their (older and older) past light looped through an unbound universe. Maybe I'm the last one to hear about it?

¹ To me a "finite unbound" and an "infinite unbound" is exactly the same, simply "unbound". I know just enough to intuit that I might be tempting fate at the hands of aggravated mathematicians by saying something like that but not enough to know why they might (hoo-hoo now I'm really asking for it aren't I) be correct :D (teaspoons please, if you don't mind).

SoylentNews twitter account

Posted by jdavidb on Friday November 17 2017, @07:06PM (#2766)
2 Comments
Code
Anyone know who runs the SoylentNews twitter account? It hasn't been updated since Nov 5.

Paying for Justice

Posted by khallow on Friday November 17 2017, @06:52AM (#2764)
7 Comments
Topics
Here's a nasty new trick from the land of California:

COACHELLA, Calif. – When Cesar Garcia pulled the letter out of his mailbox, he immediately recognized the name of the law firm on the envelope – Silver & Wright. Eighteen months ago, they had dragged him to court, called him a criminal, cost him thousands of dollars and made his life hell. What did they want now?

Garcia opened the letter, prepared for the worst, but was still shocked by what he found inside.

The law firm had sent him a bill for $26,000.

When he protested, the price climbed to $31,000.

[...]

Garcia’s case may sound strange, but in the low-income cities of the eastern Coachella Valley, it is not. Empowered by the city councils in Coachella and Indio, the law firm Silver & Wright has repeatedly filed criminal charges against residents and businesses for public nuisance crimes – like overgrown weeds, a junk-filled yard or selling popsicles without a business license – then billed them thousands of dollars to recoup expenses. Coachella leaders said this week they will reconsider the criminal prosecutions strategy, but the change only came after defense attorneys challenged the city in court, saying the privatized prosecutors are forcing exorbitant costs on unsuspecting residents.

“Fixing his house was just a side effect. Collecting this money was always their goal,” said attorney Shaun Sullivan, who represents Garcia in a lawsuit seeking to erase his $31,000 bill from Silver & Wright.

Through an extensive review of public records, The Desert Sun has identified 18 cases in which Indio and Coachella charged defendants more than $122,000 in “prosecution fees” since the cities hired Silver & Wright as prosecutors a few years ago. With the addition of code enforcement fees, administration fees, abatement fees, litigation fees and appeal fees, the total price tag rises to more than $200,000.

Here's a sample of some of the cases:

For example, a Coachella family with a busted garage door and an overgrown yard filled with trash and junk was billed $18,500.

An Indio man who sold parking on his land without a business license was billed $3,200.

And an Indio woman who strung a Halloween decoration across the street in front of her home – then pleaded guilty to a crime no more serious than a speeding ticket at her first court appearance – was billed $2,700.

Each of the examples above contested their billing in court. The amount billed then went up to $25,200, $5,100, and $4,200 respectively.

There are some other features of note. The two cities in question are unusual for taking these sorts of cases, called "nuisance property abatement" routinely to criminal court. The other cities in the area take cases to civil court because it is lower cost for the city.

We have new law passed to enable the business model:

Indio contracted Silver & Wright in 2014, then Coachella followed in 2015. Within a year of hiring the firm, both city councils created new nuisance property ordinances empowering the cities to seek prosecution fees without needing approval from a judge. Then Silver & Wright started taking east valley property owners to criminal court.

And the bills for these prosecution fees come six months later, after the window for withdrawing the plea deal has expired. It's quite the operation.

Fixing society's problems

Posted by khallow on Thursday November 09 2017, @09:17PM (#2754)
13 Comments
Rehash
Quite frequently I see people wailing about our inability to solve the problems of society while simultaneously ignoring the real world solutions and partial solutions that have already been developed. For example, here is a great example:

Whereas I have zero faith that the West has any capability, much less will, to solve its problems.

I believe my reply is instructive:

Let's take a tour of the problems that the West not only has the capability or will to solve, but actually has done so:

  1. Wars -solved.
  2. Pollution - solved.
  3. Poverty - partially solved. Note the current economic systems of the West have also partially solved poverty in China as well through global trade.
  4. Habitat destruction - partially solved with conservation and setting aside green space and wilderness.
  5. Population growth - solved.
  6. Mass education -solved.
  7. Mass, global communication - solved.
  8. Global trade system - solved.
  9. Authoritarian clowns telling you what to do - partially solved for now.
  10. Feeding the world - solved for now.

While I won't discuss all of these, I want to discuss the first three: wars, pollution, and poverty, the last along with population growth because the two problems are intertwined. These are the most stereotyped and the most often wrong when discussing problems and solutions.

So let's start with the problem of wars. Everyone knows that wars continue to happen. We even have a rather bloody one going on in Syria right now. Here, I claim that wars are "solved", yet we still have them. What gives? The first observation here is that wars are between multiple parties, states or significant sub-state actors (guerillas, paramilitary groups, terrorists, freedom fighters, etc). A single entity can't fix all wars. If party A and party B want to fight, party C is limited in what they can do to keep the two parties from fighting, even if they have legal police power over one or both groups. So a solution to war is merely the cessation of war between parties, not the ability of a third party to prevent war.

The key is to look at the developed world countries and conflicts since the end of the Second World War. If one looks at the list of the top 16 (all those with a Human Development Index of above 0.900), one sees that these countries, while often in conflict, particularly the US and UK, are never in conflict with each other. The only real conflict with any sort of involvement between these countries is the paramilitary activity in Northern Ireland which involved the UK directly and had significant private support from Ireland and the US citizens (though zero official support).

Otherwise, conflicts reduce to fishing boats bumping each other on the high seas and fall far short of any serious definition of war.

The lower tier (HDI between 0.800 and 0.899) still show remarkably low levels of conflict between members. Russia (as the controlling state of the USSR) has been in military conflict with other members (putting down revolt in Hungary in 1968, for example). Argentina with the UK in the Falkland War. In excess of a billion people, yet with only a handful of minor wars to point to.

Yes, these developed world countries often wage a fair bit of war, but not on those in the same economic class. This indicates a way to solve in the real sense, war. Elevate all countries to developed world status.

It's also worth noting that the number of deaths from wars has gone down over the past few decades globally as well. Everyone is partially benefiting from fewer and less bloody wars, not just the rich countries.

Moving on, let's consider pollution. It's long been a trite cliche to speak of pollution as if it's just as bad as it's ever been (particularly when complaining that no one will do anything about the environmental cause du jour until it's too late). For example, here's a study of ambient levels of smog components in Los Angeles air from 1960 through to near present (2014 I believe). Ozone (O3) and nitrogen oxides ("NOx") dropped by a factor of four over the time period despite an increase in fuel use of a factor of three! That's an order of magnitude drop in pollution per unit of fuel (and keep in mind that vehicles became moderately more fuel efficient over this time period even with SUVs in the mix). More complex organics, volatile hydrocarbons (VOC) and peroxyacyl nitrates (PAN) dropped much faster with at least two orders of magnitude drop in concentrations of each.

There has been many environmental regulations over the decades, and these have had an effect. There's no more rivers catching on fire in Ohio. There's no more killer smogs in London. Yet it is frequent to see people to speak as if these problems were still among us, undiminished. You know, because we never solve problems.

The final one, poverty is the biggest problem of all, for not only does it cause immense suffering on its own, but it is a driver for many other social problems, most particularly overpopulation and a low regard for human life.

While I've hinted before at myopic interpretations of these problem, it's far more pronounced here both with the introduction of deceptive measures of poverty that both don't measure poverty and measure relative quantities that can never really go away. For example, there's a lot of talk of wealth and income inequality rather than more legitimate measures of absolute poverty (which actually measure a problem!). And sometimes those measures are used deceptively (such as a recent story which The convenient aspects of inequality is that it can never go away, and there's no obvious level which is good or bad. Then you get the conflations with real poverty even though it doesn't even remotely measure that (keep also in mind a tendency to declare that poverty is routinely declared to be people with the lowest percentage of wealth).

Let's take a cursory look at how inequality gets abused:

What I think is wrong with society is that, while I'm just barely on the comfortable side of the wealth divide, the gap is growing at a crazy pace. Prices I learned growing up in the 1970s have mostly inflated 10x, as has my income, meanwhile the bottom end of the income scale (virtually anyone below me on the job-value ladder) has only grown maybe 3-4x, it's pretty sad for the majority of the population.

Reality:

What evidence exists for this? I grant that there is wealth inequality and it has appeared to grow somewhat over the past 40 years. But there is no "crazy pace" to it. For example, we have a Pew Study that shows by their measure, the Middle Class shrinking from 61% in 1971 to 50% in 2015. Roughly, 20% shrinkage in 44 years. That's your "crazy pace". Even worse for your narrative, the upper classes grew more than the lower ones as a fraction of total population. So two thirds of the fraction that were no longer middle class were now upper class.

A particularly dishonest metric claiming an increase in global wealth inequality can be found in this story.

Wealth inequality stands at its highest since the turn of the 20th century - the so-called 'Gilded Age' - as the proportion of capital held by the world's 1,542 dollar billionaires swells yet higher.

The problems with that? 1) not actually measuring wealth inequality. What of the wealth of the 7.4 billion people who aren't billionaires? 2) downplayed that most of the increase in wealth (+17%) can be explained by the pool of billionaires increasing by 10% (145 new billionaires)! 3) Ignores that billionaire wealth is not equal value to those who aren't billionaires and thus, their wealth is exaggerated. Can't eat credit default swaps or even sell them easily for market price. But it made for a great tale of the "second" Gilded Age.

Here's another example from a linked essay rationalizing why the USSR didn't work in typical Marxist fashion:

The United States enacted an income tax in 1913, falling mainly on rentier income, not on the working population. Capital gains (the main source of rising wealth today) were taxed at the same rate as other income. But the vested interests campaigned to reverse this spirit, slashing capital gains taxes and making tax policy much more regressive. The result is that today, most wealth is not gained by capital investment for profits. Instead, asset-price gains have been financed by a debt-leveraged inflation of real estate, stock and bond prices.

Many middle-class families owe most of their net worth to rising prices for their homes. But by far the lion’s share of the real estate and stock market gains have accrued to just One Percent of the population. And while bank credit has enabled buyers to bid up housing prices, the price has been to siphon off more and more of labor’s income to pay mortgage loans or rents. As a result, finance today is what is has been throughout history: the main force polarizing economies between debtors and creditors.

So first paragraph is a work of art that slams the wealthy for having inordinate gains revenue (which simultaneously downplaying the wealth as mere "debt-leveraged inflation"). So why should we care about gains inequality? Who wants more "debt-leveraged inflation"? Yet it is portrayed as a bad thing even though the argument is sheer nonsense.

And then the author whines about how unfair it is that people actually have to borrow money for a house rather than just have one given to them on a silver platter.

Related to that is the common observation that the wealthiest X people have far more wealth than the poorest Y fraction of the population. As indicated here, there's a couple of enormous flaws with that thinking.

To see the problem, here's another version of the same number: the combined wealth of my two nephews is already more than the bottom 30 percent of the world combined. And they don't have jobs, or inheritances. They just have a piggy bank and no debt.

[...]

The chart [2014 regional wealth distribution, Credit Suisse] shows China has basically no one in the bottom 10 percent of the global wealth distribution. At the same time, if you dig into the country-by-country data (page 107 in the Databook), it shows that America has more than 7 percent of the world's poorest inhabitants — second only to India. That is, to put it lightly, nuts.

Anyway, let me trot out some counterexamples for your consideration. First, let's consider those living in extreme poverty. The fraction of people who live in such extreme poverty (here, using the metric of at most $1.90 per day in "international $", adjusted both for standard of living price changes between countries and inflation) has been declining ever since 1820, the start of the graph in the link (that's almost 200 years of such decline). The absolute number of people in such extreme poverty has been declining, despite population growth heavily biased towards the poorest of the world, since 1970! It currently is around 700 million after peaking at 2.2 billion. Over the same time period, the fraction of people living in extreme poverty dropped from just over 60% in 1970 to under 10% in 2015.

Then there's my favorite example of reduction of global income equality. Over a twenty year period (1988-2008), two thirds of humanity (that's everyone in the world) saw at least a 30% increase in their income with the median increasing by over 60%. While the richest got richer, that still means a decline in overall wealth inequality due to the nearing of developed world and developing world incomes.

I'll note that poverty is a huge correlation with population growth (the other big factor being the fraction of women not in the workforce). In 1970, the global population growth rate was 2.1% per year. It has now dropped to 1.1% per year with the developed world showing negative rates before immigration (among everyone who is not first or second generation immigrants).

To summarize, there has long been a narrative about humanity that emphasizes our inability to solve problems. This narrative is grossly in error with the developed world demonstrating a number of solved or partially solved problems in war, environmental problems, and poverty and overpopulation. These solutions have come to the point that extreme poverty, which until 1980 was the usual condition of most of humanity, now afflicts less than a tenth. We are in the midst of the biggest improvement of the human condition ever.

Yet the games continue. This enormous boon is concealed between a web of selective statistics. Critics peer intently at various dubious versions of wealth inequality (often while simultaneously downplaying the value of the wealth they are comparing) because absolute measures of poverty don't give the right answers any more. Would-be environmentalists complain because poisons are poisons (look at the replies which ignore dosage and proper usage) while completely ignoring whether current regulation solves the problems they claim to care about and whether the role of the poison is necessary.

And for some people, it no longer matters how many people die in wars any more. Wars are equally bad no matter how many die. Very convenient for the peacenik who needs a cause that never goes away.

My view is that part of the problem is that we have a case of bad ideology which needs to invent exaggerated or even fake problems in order to act out showing concern. Partly, it's that we're going to worry, even if we don't enough to worry about. Whatever the case, I think it would be nice here to wake up and see what's being done right rather than bumble on into some idiotic and dreadful societal theater because of the Chicken Littles of the world.

Clinton emails necroed

Posted by khallow on Tuesday November 07 2017, @06:22PM (#2747)
8 Comments
Rehash
Looks like the Clinton email scandal has crawled out of the grave once again.

An early draft of former FBI Director James Comey's statement closing out the Hillary Clinton email case accused the former secretary of State of having been "grossly negligent" in handling classified information, newly reported memos to Congress show.

The tough language was changed to the much softer accusation that Clinton had been "extremely careless" in her handling of classified information when Comey announced in July 2016 there would be no charges against her.

The change is significant, since federal law states that gross negligence in handling the nation's intelligence can be punished criminally with prison time or fines.

[...]

The draft, written weeks before the announcement of no charges, was described by multiple sources who saw the document both before and after it was sent to the Senate Judiciary Committee this past weekend.

"There is evidence to support a conclusion that Secretary Clinton, and others, used the email server in a manner that was grossly negligent with respect to the handling of classified information," reads the statement, one of Comey's earliest drafts from May 2, 2016.

The sources who had seen the early draft, who spoke on condition of anonymity because they were not authorized to speak to the media, said the draft statement was subsequently changed in red-line edits on or around June 10 to conclude that the handling of 110 emails containing classified information that were transmitted by Clinton and her aides over her insecure personal email server was "extremely careless."

So... former FBI Director Comey apparently did at one point use the legally significant phrase "grossly negligent" which then somehow morphed to the legally insignificant phrase, "extremely careless" after draft changes by the Senate Judiciary Committee to Comey's statement. I wonder if Clinton apologists care any more.