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Biden, Our Boneheaded Chip Czar | The Libertarian Institute

Posted by M. C. on November 4, 2022

Actually, it is unclear whether the Syracuse plant will even be built. The New York Times reported that Micron recently “reported a 20 percent drop in fourth-quarter revenue” and “slashed planned spending on factories and equipment by nearly 50 percent in the current fiscal year.” Fortune magazine noted that “demand for chips is collapsing just as Joe Biden signs bill” to boost U.S. production.

The one government excels at is proving time and again central planning does not work.

https://libertarianinstitute.org/articles/biden-our-boneheaded-chip-czar/

by Jim Bovard

Jubilation erupted in Washington this summer as politicians lurched towards commandeering a key swath of the American economy. Congress passed Biden-backed legislation known as the Chip Act to spend $52 billion subsidizing semiconductor production. A Washington Post headline hailed “a big month for Bidenomics” and another headline celebrated “Biden’s hot streak.”

The Chip Act’s passage sparked a volcanic eruption of economic illiteracy from the media and top politicians. Washington Post columnist E.J. Dionne proclaimed, “The chips bill means the Era of Hands-Off Government is over.” Sen. Charles Schumer (D-NY), the Senate Majority Leader, huffed, “The old laissez-faire theory is: Leave the companies alone, and they’ll do great.” Inside the Beltway, anything less than total federal domination of the economy is derided as “laissez-faire.” Schumer scoffed at the failure of laissez-faire just after Congress sharply raised taxes on corporations. Jared Bernstein, a member of the White House Council of Economic Advisers, declared, “When it comes to establishing a lasting legacy in terms of existentially necessary economic transformation, history may well put President Biden in the same sentence as FDR and LBJ.”

The exaltation occurred because “many politicians believe that Beijing’s economic planning is superior to the U.S. free-market system,” as a Wall Street Journal editorial noted. Brian Deese, Biden’s National Economic Council director, declared, “The question should move from ‘Why should we pursue an industrial strategy?’ to ‘How do we pursue one successfully?’” And since Congress passed the law, that proved that Team Biden was successful.

The Chip Act made Biden the nation’s Semiconductor Czar, and he promised that he would “personally have to sign off on the biggest grants” to companies. What could possibly go wrong?

If a picture is worth a thousand words, is a political photo opportunity worth $50 billion? Biden rushed to exploit the new law for a campaign event before the congressional mid-term elections. Last week, Biden and New York Governor Kathy Hochul held a media circus outside of Syracuse, New York to celebrate subsidies for a Micron semiconductor plant that will not even break ground until 2024. Hochul swayed the New York legislature to enact a subsidy of up to $10 billion for semiconductor producers. Micron is expected to pocket more than $5 billion—the largest corporate handout in state history. Federal subsidies will be added next year when the Chip Act starts dishing out goodies. The total subsidy per promised job exceeds $600,000 and could rise far higher.

Biden boasted that Micron’s investment in New York is “the largest investment of its kind…ever ever in history.” Because the plant will run solely on renewable energy, its production costs could be sharply higher than unsubsidized factories elsewhere in the world. Biden also boasted that the plant would be constructed solely by union members paid high wages dictated by the U.S. Labor Department. The federal and state mandates effectively guarantee that the new plant will be uncompetitive even before the first spade of dirt is overturned.

Biden bragged, “With Micron’s $100 billion investment alone, we’re going to increase America’s share of global memory chips and production by 500%.” Actually, it is unclear whether the Syracuse plant will even be built. The New York Times reported that Micron recently “reported a 20 percent drop in fourth-quarter revenue” and “slashed planned spending on factories and equipment by nearly 50 percent in the current fiscal year.” Fortune magazine noted that “demand for chips is collapsing just as Joe Biden signs bill” to boost U.S. production. The Philadelphia Semiconductor Index had declined by 35% from its high by the time the law was passed.

But Biden and Schumer, counting on the illiterates in the mainstream media, are still hailed as saviors regardless of the glut. Biden’s subsidies could help turn chip production in America into a cartel. Creating a surplus of chips could be ruinous for unsubsidized producers. The same pattern has repeated since the 1930s for federal agricultural subsidies that favored the largest farmers and helped drive small farmers out of business.

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oftwominds-Charles Hugh Smith: The Era of All-Powerful Central Banks Is Over

Posted by M. C. on November 4, 2022

http://charleshughsmith.blogspot.com/2022/11/the-era-of-all-powerful-central-banks.html?m=1

The era of all-powerful central banks is over for a simple reason: they failed: they failed their citizens, their nations, and they failed the world. Their policies have pushed wealth and income inequality to extremes that have destabilized the planet’s social, political, economic and environmental spheres.

As I have endeavored to explain for many years, this is the only possible outcome of central bank dominance. Once Finance becomes the primary mover of everything else, then it distorts everything into a skimming machine that benefits the few with access to central bank funding at the expense of everyone else.

Once finance dominates, then both the “market” and government become servants of finance. I say “markets” because once markets have been financialized, they serve the interests of cartels and monopolies and cease to be markets at all.

Government, regardless of the advertised “brand”, becomes an auction where the highest bidder gains control of governance and regulation, which are bent to serve the interests of the few with access to central bank largesse.

As the charts below illustrate, this is the top 0.1%, with a substantial “trickle down” to the top 1% and top 10%. The bottom 90% have lost ground not just economically but also politically and socially.

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Destroying Western Values To Defend Western Values

Posted by M. C. on November 4, 2022

Caitlin Johnstone

https://caitlinjohnstone.substack.com/p/destroying-western-values-to-defend?r=iw8dv&utm_medium=android

So it turns out the US intelligence cartel has been working intimately with online platforms to regulate the “cognitive infrastructure” of the population. This is according to a new investigative report by The Intercept, based on documents obtained through leaks and an ongoing lawsuit, on the “retooling” of the Department of Homeland Security from an agency focused on counterterrorism to one increasingly focused on fighting “misinformation, disinformation, and malinformation” online.

While the DHS’s hotly controversial “Disinformation Governance Board” was shut down in response to public outcry, the Intercept report reveals what authors Lee Fang and Ken Klippenstein describe as “an expansive effort by the agency to influence tech platforms” in order to “curb speech it considers dangerous”:

According to a draft copy of DHS’s Quadrennial Homeland Security Review, DHS’s capstone report outlining the department’s strategy and priorities in the coming years, the department plans to target “inaccurate information” on a wide range of topics, including “the origins of the COVID-19 pandemic and the efficacy of COVID-19 vaccines, racial justice, U.S. withdrawal from Afghanistan, and the nature of U.S. support to Ukraine.”

Lee Fang @lhfang

Docs show Facebook and Twitter closely collaborating w/ Dept of Homeland Security, FBI to police “disinfo.” Plans to expand censorship on topics like withdrawal from Afghanistan, origins of COVID, info that undermines trust in financial institutions. interc.ptLeaked Documents Outline DHS’s Plans to Police DisinformationUnder the guise of counterterrorism, the government is accelerating pressure on social media companies to crack down on speech the feds deem disinformation.2:55 PM ∙ Oct 31, 202242,230Likes21,505Retweets

The report reveals pervasive efforts on the part of the DHS and its Cybersecurity and Infrastructure Security Agency (CISA), along with the FBI, to push massive online platforms like Facebook, Instagram and Twitter to censor content in order to suppress “threats” as broad as fomenting distrust in the US government and US financial institutions.

“There is also a formalized process for government officials to directly flag content on Facebook or Instagram and request that it be throttled or suppressed through a special Facebook portal that requires a government or law enforcement email to use,” The Intercept reports.

“Emails between DHS officials, Twitter, and the Center for Internet Security outline the process for such takedown requests during the period leading up to November 2020,” says The Intercept. “Meeting notes show that the tech platforms would be called upon to ‘process reports and provide timely responses, to include the removal of reported misinformation from the platform where possible.’”

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The Farther People Are From The Fighting In Ukraine, The More They Oppose Peace Talks

Posted by M. C. on November 4, 2022

https://open.substack.com/pub/caitlinjohnstone/p/the-farther-people-are-from-the-fighting?utm_source=direct&r=iw8dv&utm_campaign=post&utm_medium=web

Caitlin Johnstone

A new article for The Irish Times by Virginia Tech professor Gerard Toal, titled “Ukraine risks being locked into endless war in bid for perfect peace,” contains a very interesting paragraph:

Ordinary Ukrainians on the front lines are divided on a ceasefire and negotiations. My Ukrainian colleague Karina Korostelina and I surveyed the attitudes of both residents and displaced persons in three Ukrainian cities close to the southeast battlefields this summer. Almost half agreed it was imperative to seek a ceasefire to stop Russians killing Ukraine’s young men. Slightly more supported negotiations with Russia on a complete ceasefire, with a quarter totally against and a fifth declaring themselves neutral. Respondents were torn when considering whether saving lives or territorial unity were more important to them. Those most touched by the war, namely the internally displaced, were more likely to prioritise saving lives. Other research reveals that those farthest from the battlefields have the most hawkish attitudes.

It’s the third from the last paragraph in the article, whose overall content cannot be remotely construed as sympathetic toward Moscow, but it’s very important information. 

“Those most touched by the war, namely the internally displaced, were more likely to prioritise saving lives. Other research reveals that those farthest from the battlefields have the most hawkish attitudes.”

Those two simple sentences sum up so much of the attitude we are seeing toward this war, and it applies as much to those cheerleading continual escalation and bloodshed from the comfort of their homes on the other side of the world.

Branko Marcetic @BMarchetich

Unlike sofa warriors in the West and elsewhere treating people like plastic figurines on a board, Ukrainians most affected by the fighting tend to be more in favour of talks for a ceasefire and prioritise actual human lives over borders & land: irishtimes.com/opinion/2022/1…

Image

11:18 PM ∙ Nov 3, 2022


282Likes86Retweets

“Other research reveals that those farthest from the battlefields have the most hawkish attitudes.”

Remember this as you watch pundits and politicians calling for escalations in Ukraine from Washington DC, Los Angeles and London.

Remember this as you watch armchair warriors and NAFO neckbeards dogpiling anyone who advocates peace talks.

Remember this as you watch progressives on Capitol Hill pressured into walking back even the mildest support for potential ceasefire negotiations at some point.

Remember this as more and more information comes out about the way bot swarms and astroturf trolling operations have been used to shout down and silence anyone who advocates peace online.

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Elon Musk Sends Email To Twitter Staff Notifying Them Of Mass Layoffs

Posted by M. C. on November 4, 2022

Elon Musk Sends Email To Twitter Staff Notifying Them Of Mass Layoffs

The trick will be can Elon prevent backsliding.

https://www.dailywire.com/news/breaking-elon-musk-sends-email-to-twitter-staff-notifying-them-of-mass-layoffs

By  Ryan Saavedra

New Twitter CEO Elon Musk informed employees Thursday evening to not come into the office tomorrow as the company was laying off a substantial portion of its workforce.

The news comes after Bloomberg News reported earlier this week that Musk was cutting 3,700 of the company’s 7,500 employees on Friday. Musk is also reportedly canceling a work-from-anywhere policy and is going to force employees to come into the office to work.

“In an effort to place Twitter on a healthy path, we will go through the difficult process of reducing our global workforce on Friday,” an email from the company sent to all employees stated. “We recognize that this will impact a number of individuals who have made valuable contributions to Twitter, but this action is unfortunately necessary to ensure the company’s success moving forward.”

“Given the nature of our distributed workforce and our desire to inform impacted individuals as quickly as possible, communications for this process will take place via email,” the message said.

The email said that everyone will receive an email about their future at the company, regardless of whether they are being laid off or not.

“To help ensure the safety of each employee as well as Twitter systems and customer data, our offices will be temporarily closed and all badge access will be suspended,” the email concluded. “If you are in an office or on your way to an office, please return home. We acknowledge this is an incredibly challenging experience to go through, whether or not you are impacted. Thank you for continuing to adhere to Twitter policies that prohibit you from discussing confidential company information on social media, with the press or elsewhere. We are grateful for your contributions to Twitter and for your patience as we move through this process.”

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Clausewitz

Posted by M. C. on November 4, 2022

The Prussian military theorist famously wrote that: “War is nothing but a continuation of politics with the admixture of other means.” 

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Clausewitz, the UN Charter, and a Libertarian View on War

Posted by M. C. on November 4, 2022

UN Security Council (UNSC) authorizations that since 1945 have allowed some member States to use force against other members often have had underlying interests other than the stated one of “restoring international peace.” Predictably, the results of many of these UN sanctioned military interventions have generally been disastrous; often exacerbating conflicts and leading to the dramatic suffering of the civilian populations.

Libertarianism is perfectly placed for this task, since it identifies the state as the cause of most of society’s artificially created ills. As a political philosophy based on natural right, libertarianism cannot morally accept a war waged by the state, even if an entirely defensive one (if there is such a thing). The state, by its very definition, violates the nonaggression principle by its monopoly of violence on a given territory.

https://mises.org/wire/clausewitz-un-charter-and-libertarian-view-war

The ongoing war in Ukraine has forced many Westerners to consider the realism of Carl von Clausewitz’s classic On War. The Prussian military theorist famously wrote that: “War is nothing but a continuation of politics with the admixture of other means.” Though this observation may seem strange or even shocking to modern Western ears, it is the role war has mostly had throughout history.

Clausewitz served in the Russian army in 1812 and his influence in Russia is felt to this day. Indeed, Russia’s approach to the war in Ukraine has the imprint of Clausewitz in the sense that it sees military action as a political instrument, along with other such instruments, such as diplomatic and economic ones.

This helps to explain why Russia has been somewhat misunderstood in Western political and intellectual circles as the current crisis has escalated. Since the end of the Cold War, Western elites have come to equate war with the particular military doctrine of the United States, for which war only starts where politics ends, or even worse: when war of aggression is the preferred means to reach political and commercial ends, often at the exclusion of any good faith diplomacy.

Washington’s wars in the Middle East are typical examples of this. The official objectives of these wars, such as “spreading democracy,” have never really been achieved. Instead, the Military-industrial complex has profited massively from these wars, which strongly suggests that the real military goals of the US government are not the official ones.

For Clausewitz, writing in a time when crony capitalism hardly existed, there is a fundamental interest in avoiding war, because war harms all parties directly involved. Thus, in this light, war should always be the last resort employed by states when trying to reach political goals, not only because of the loss of life and the destruction of property that war entails, but also because of the uncertainty of war for all involved. As the old saying goes, it is easy to start a war, but difficult to end it.

When war does erupt, it is thus often the result of one side’s error of judgment with regard to its own and its opponent’s capabilities and intentions. As the historian Carroll Quigley wrote in his magnum opus, Tragedy and Hope: “This is the chief function of war: to demonstrate as conclusively as possible to mistaken minds that they are mistaken in regard to power relationships.

The Lack of Relevance of the UN

Typically for a nineteenth-century thinker, Clausewitz accepted the possibility for war to solve political problems, in a way modern international law does not. However, his view of war seems more respectful of the United Nations Charter than the aggressive military doctrine practiced by some of its Western signatories. Indeed, the United Nation’s Security Council’s past decisions to allow military intervention have often not met even the Clausewitz rationale for war; namely, the exhaustion of all other means of issue resolution.

UN Security Council (UNSC) authorizations that since 1945 have allowed some member States to use force against other members often have had underlying interests other than the stated one of “restoring international peace.” Predictably, the results of many of these UN sanctioned military interventions have generally been disastrous; often exacerbating conflicts and leading to the dramatic suffering of the civilian populations. In North Korea 1950, in South Vietnam in 1966, in Kuwait in 1990, and in Libya in 2011, the US interventions made a mockery of the UN’s ideal of peace.

Even worse, the UN Charter and the legal legitimacy of the UNSC have simply been disregarded by the US government in Serbia in 1999 and Iraq in 2003, setting a dangerous precedent. Today, of the permanent five veto-wielding members of the UNSC, three of them are now adversaries of the other two, and this is preventing the UNSC from making any significant contribution toward restoring peace.

What kept the peace, at least in Europe, between the two geostrategic and ideological Cold War rivals was arguably more the nuclear deterrence than the existence of the UN Charter, even though the USA and the USSR did several times come close to using nuclear weapons.

The UN’s role in enforcing international law is therefore today almost nonexistent. The absence of the UN in helping solve the current conflict between Russia and NATO is glaring. The UN Charter is thus simply a legal framework that works—de facto, not de jure—only as long as all of its most powerful members adhere to it in both spirit and letter. In reality, international relations between nation-states are still to a large extent power relationship, as in the days of Clausewitz.

Realism in War Complemented by Libertarianism

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Pat Buchanan and the Menace of Anti- Anti-Semitism

Posted by M. C. on November 4, 2022

A free and diverse society requires candor and vigorous debate, which is what we had in the United States until left-Puritanism did its work.

Tho Bishop

Hence, it is no accident that the ADL picked the occasion of Buchanan’s hard-hitting critiques of the war hawks to unleash its dossier, to issue and widely circulate a press release smearing Buchanan as anti-Semitic, which was then used as fodder for an extraordinarily extensive press campaign against Buchanan.

https://rothbardrockwellreport.substack.com/p/pat-buchanan-and-the-menace-of-anti?r=iw8dv&utm_medium=android

In August 1990, Pat Buchanan voiced opposition to potential war in Iraq, arguing that any sort of military conflict went against the interests of American citizens. “There are only two groups that are beating the drums for war in the Middle East,” said Buchanan, “the Israeli Defense Ministry and its amen corner in the United States.”

In response, Buchanan was harshly scolded in the majority of major American media outlets. Writing in the New York Times, A.M. Rosenthal repeatedly accused Buchanan of “anti-Semitism,” and denounced “his venom about Jews.” Evoking the specter of the Holocaust, Rosenthal went on to say “I apologize for not confronting the ugliness sooner. The man reaches millions.” The result of Rosenthal’s article was a coordinated campaign to have Buchanan’s newspaper column dropped around the country.

The following article by Murray Rothbard, published in December 1990, looks at the history of the ADL – aka, “the Smear Bund” – of attacking opponents of American military adventurism in the Middle East and the threat posed of censoring debate.

As Murray notes, “A free and diverse society requires candor and vigorous debate, which is what we had in the United States until left-Puritanism did its work.”

I have it on good authority that Barbara Branden is spending a good portion of her time lately brooding about the rising menace of anti-Semitism.” Poor Barbara; like all Randians, she is perpetually out of sync. There is indeed a menace in this area, Barbara, but it is precisely the opposite: the cruel despotism of Organized Anti-Anti-Semitism. Wielding the fearsome brand of “Anti-Semite” as a powerful weapon, the professional Anti-Anti-Semite is able, in this day and age, to wound and destroy anyone he disagrees with by implanting this label indelibly in the public mind. How can one argue against this claim, always made with hysteria and insufferable self-righteousness? To reply “I am not an anti-Semite” is as feeble and unconvincing as Richard Nixon’s famous declaration that “I am not a crook.”

So far, Organized Anti-Anti-Semitism has been able to destroy, to drive out of public life, anyone who receives the “anti-Semite” treatment. True, “anti-Semitic” expression is not yet illegal (though it is banned in many Western ”democracies,” as well as increasingly – as with other “hate speech” – serving as grounds for expulsion, or at the very least compulsory “reeducation,” on college campuses). But the receiver of the brand is generally deprived of access to organs of influential opinion, and is marginalized out of the centers of public life. At best, the victim of the brand may be driven to abase himself before his persecutors, and, by suitable groveling, apologies, and – most important – the changing of positions of crucial interest to his enemies, he may work his way back into public life – at the expense of course, of self-emasculation. Or, if, by chance, the victim manages to survive the onslaught, he may be induced to exercise due caution and shut up about such issues in the future, which amounts to the same thing. In that way, Organized Anti-Anti-Semitism (OAAS) creates, for itself, a win-win situation.

The real menace is organized Anti-

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Jordan Peterson’s Surprising Take on Gay Marriage #Shorts | DM CLIPS | RUBIN REPORT

Posted by M. C. on November 3, 2022

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The U.S. Government Has Lied About Afghanistan For Two Decades – System Update with Glenn Greenwald

Posted by M. C. on November 3, 2022

In this video, Glenn Greenwald elaborates on the Substack reporting he did, reviewing amazing video and documentary evidence proving that top US political and military officials deliberately lied to the public for years, insisting that the Afghan Security Forces were strong and close to ready while, in secret, they knew they were a joke and a sham.

Read the article: https://greenwald.substack.com/p/the-us-government-lied-for-two-decades
Subscribe to Glenn Greenwald’s Substack here: https://greenwald.substack.com/

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