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Austerity for ordinary citizens and bank rescues for the affluent is a toxic mix

Not even ChatGPT could dream this up: Fifteen years after the whole world financial system collapsed and barely a decade since we were told the Dodd-Frank financial reform bill fixed the problems in the US system, two major regional banks in the U.S. are down and depositors are fleeing from many, many more.

Well, that didn’t go well. I noted over the weekend that the Israeli defense minister had called for the government to at least postpone its “judicial reforms” because the military was starting to fracture over the issue and it was threat to national security. On Sunday, Prime Minister Netanyahu fired the defense minister — and the country looks like it’s exploding. This Liveblog of the “night of chaos” is stunning. An excerpt: Anti-judicial coup protesters are blocking roads and intersections at multiple locations across Israel on Sunday night to protest Benjamin Netanyahu’s decision to fire Defense Minister Gallant. According to police, demonstrations are taking place at over 150 locations. Bibi wants to make these judiciary changes to protect himself from the corruption charges that hang over his head and he has a slim 4 vote majority which he cobbled together by selling his soul to the far right, which wants to hobble the independent judiciary for its own purposes. The systems are very different and it’s not useful to make too many comparisons. But damn, there’s a lot in there that sounds familiar, no?

This time is different. But is it?

“On the 16^th of March, a major bank narrowly avoids bankruptcy by its sale to a former rival at the shockingly low price.”

Sound familiar? The March in question was March 2008, the bank was Bear Sterns, and the rescuing firm was J.P. Morgan Chase, which acquired Bear at $2 per share in one of the opening acts of what became the global financial crisis of 2008.

Fifteen years later, markets are once again rattled by fears of contagion. In just a few days, three regional lenders failed in the US, as the contagion spread to systemically important banks in Europe. Credit Suisse had to be taken over by its rival UBS during the weekend of 18-19 of March 2023. Days later, markets started turning on Deutsche Bank, as the SEC issued a warning about a hedge fund.

Kit Klarnberg reveals the industrial-scale corruption which allowed billions of U.S. taxpayer dollars to flow into Afghanistan without supervision and for weaponry and aid to be misused, stolen or illegally sold off by Afghans, U.S. personnel and Pentagon contractors alike.

The post Two Decades and $90 Billion US Dollars Later: Dissecting The Afghan Military’s Total Collapse appeared first on MintPress News.

I climbed inside a giant robotic parking garage

Monday morning geek-out Reflecting on the studies E.J. Dionne referenced (post below), let’s consider where Democrats can narrow their vote margins and perhaps turn losses into wins. The key to Democrats winning in 2024 and beyond could lie in turning out more independent voters in precincts where they lean Democrat. My focus at the moment is how independent voters swing, especially in evenly divided states like North Carolina. (Donald Trump won the state in 2020 by under 1.5 points.) “Unaffiliated” voters (UNAs) here are the largest tranche of state registrants (36 percent in 2022), meaning Democrats must turn out D-leaners to win. Except UNAs statewide voted only 42 percent for the Democrat at the top of the November ticket in the last two general elections. That performance, however, varies wildly by precinct. In mine, four out of five UNAs voted for Joe Biden.* In some of North Carolina’s largest counties, UNAs split as much as 60 percent for Democrats. But take note.

Israelis are calling for democracy. Privileged citizens that denied democracy to Palestinians fear that their democracy is in danger. This is not a new phenomenon; we have seen this in the US, in Australia, and other settler colonial states.

The post For Israelis, Ethnic Cleansing Palestinians is Fine, But Judicial Reform is a Red Line appeared first on MintPress News.

This video is worth watching, though I have no idea whether the bit about dead cops is true:

The post Above the Law and Beyond Contempt appeared first on scheerpost.com.

After censoring experts who found that the victims in Douma could not have been killed by chlorine gas, the OPCW’s new IIT report continues the cover-up and baselessly accuses the Syrian government. [Note: this article contains graphic images.] On April 7th 2018, gruesome images of an alleged chemical attack emerged from the Syrian town of Douma. Dozens of dead bodies, including children and infants, appeared heaped in piles inside of an apartment building. Others lay on the street in front […]

The post Burying key evidence, new OPCW report covers up Douma’s unsolved deaths appeared first on The Grayzone.

The record-breaking roundups of iconic Western mustangs are a gift to ranching and mining interests.

The post Biden Is Fulfilling Trump’s Cruel Policy on Wild Horses appeared first on The Intercept.

Tapping the American id A second look at Abraham Josephine Riesman’s Ringmaster: Vince McMahon and the Unmaking of America, this time by John Hendrickson in The Atlantic, contemplates how watching a “good guy” wrestler like Dwayne “The Rock” Johnson deliver “‘the people’s elbow’ to a bullying foe” is cathartic for professional wrestling fans. They pay good money for it. WWE’s McMahon “tapped into the American id,” made a fortune by it, and drew Donald Trump a roadmap to the White House. A technology and science fiction writer I know online commented Saturday night on how Generative AI “will turn civilization upside down” in ways hard to predict. For better or worse, Pandora’s Box is open and will never be closed, she wrote. That’s how technology works. Similarly, who could have predicted that professional wrestling and McMahon “could have such a profound influence on American culture and politics,” Hendrickson writes. McMahon’s pal Donald has changed American political culture and the party he leads by dint of throwing elbows at people his fans love to jeer.

It took the roiling events of 1963 to open the ears and hearts of the American public to the Beatles.

"Thasmin" was the fanfic love story between the 13th Doctor and companion Yaz that became a reality, giving that Doctor Who run some heart.

SIXTEEN-YEAR-OLD Ryan Hill-Smith has his sights set on competing on this year’s IBC Bodyboarding World Tour. A Coffs Coast Bodyboarding Association member, the first event Ryan hopes to enter is the Maldives Pro, taking place from 3 to 12 August 2023. Advertise with News of The Area today. It’s worth it for your business. Message...

The post Coffs Bodyboarder fundraising to compete internationally appeared first on News Of The Area.

OLYMPIC Gold and Silver medallist Brooke Hanson will be speaking at Coffs Harbour’s Orara High School and Toormina High School on Monday 27 March as part of her North Coast regional tour with the Olympics Unleashed program. Brooke will visit Orara High School on Monday morning and Toormina High School in the afternoon to present...

The post Olympian Brooke Hanson sets out to inspire local students appeared first on News Of The Area.

WISHING to spread a message on world peace and uniting religions, Moonee Beach artist and songwriter Melanie Ramsey Hale is entering the prestigious Art Gallery of NSW’s Sulman Prize with her painting ‘Velvet Rose’. The Sulman Prize is awarded for the best subject painting, genre painting or mural project by an Australian artist. Advertise with...

The post Moonee Beach artist enters Sulman Prize with painting promoting world peace appeared first on News Of The Area.

The SDLP served as a bridge between communities during Northern Ireland's peace process but is now in the fight for its life, reports Emma DeSouza

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Change the name from TikTok to “Student Loan Debt”

Become a series of collapsing bridges

Turn into the Section 8 housing waitlist

Enroll in a Title 1 school

Get into the predatory lending business

Become an ectopic pregnancy in Texas

Buy up houses and then let them sit vacant in order to drive up housing costs by creating false scarcity

Transform into a high medical bill

Become the federal minimum wage

Walk into an elementary school with an assault rifle

Tom Charles reports on a proposal by Kensington and Chelsea Council to redevelop one of the last standing community spaces in the borough