Saturday, May 27, 2023
Friday, May 26, 2023
About 229,000 Workers Filed For Unemployment Last Week
The Labor Department released its weekly unemployment report on Thursday. It showed that about 229,000 workers filed for unemployment benefits in the week ending on May 20th. Here is the official Labor Department statement:
In the week ending May 20, the advance figure for seasonally adjusted initial claims was 229,000, an increase of 4,000 from the previous week's revised level. The previous week's level was revised down by 17,000 from 242,000 to 225,000. The 4-week moving average was 231,750, unchanged from the previous week's revised average. The previous week's average was revised down by 12,500 from 244,250 to 231,750.
Musk Made Twitter A Right-Wing Propaganda Platform
Twitter started to become a right-wing media hot spot when Elon lifted bans on thousands of accounts that had spread disinformation about the pandemic and the 2020 elections.
More recently, Tucker Carlson has said he would revive his show on Twitter after losing his Fox News slot (Musk has denied that Twitter has signed a deal with Carlson). It’s also been reported that The Daily Wire, a right-wing, anti-democracy media outlet, will make Twitter the home for all its podcasts.
Unquestionably, Twitter is benefiting from the dissatisfaction of the anti-democracy movement with Fox News. Elon can claim to be outside the mainstream media world of Rupert Murdoch.
But Elon wants to be a force on the right because he wants total control. That’s been his business MO since the start, and it’s now his political MO.
Not content to be the (or among the) richest on the planet, not satisfied with taking over one of the biggest media machines in the world, Elon wants to impose his will on America and the world directly. Like … the former guy.
Elon said Tuesday he isn’t formally backing any Republican candidate. But his eye is focused on Trump. Right now, Elon wants to send Trump the message that he — Elon — has the power to make life difficult for Trump if Trump so much as hints at making life difficult for Elon.
Elon knows that the best way to deal with a bully is to bully him — show unremitting force and ally with other opposing forces. Which is why Elon is helping DeSantis. And why, earlier this week, Elon retweeted a campaign kickoff video for Senator Tim Scott of South Carolina.
Elon is only 51. He’s barred from becoming president (he was born in Pretoria, South Africa), but otherwise there’s no end to the power he can wield over America and the world during the next decades. And make no mistake: He plans to wield it.
What should be done?
Start with what America did at the turn of the last century to the robber barons of the Gilded Age: We enforced the antitrust laws. We busted up the giant railroads and oil companies. Now we should bust up media monopolies like Twitter.
But don’t stop there. Musk is a walking illustration of the damage exorbitant wealth can do. We need a wealth tax on billionaires.
Thursday, May 25, 2023
The Debt Ceiling Crisis Is A Pathetic Political Pantomime
The following post is by Dan Rather and Elliot Kirschner:
What is happening in Washington is bananas.
Of course we could use much more colorful, or dignified, language.
Many in the press are framing the dynamic between the White House and House Speaker Kevin McCarthy over the looming possibility of a United States debt default as a “negotiation.” That’s like “negotiating” with your teenager over their desire to take the family car for an inebriated joy ride with friends on a Friday night.
Unfortunately, in this case the kids already have the keys and are at the demolition derby. They’re making it very clear that they’re more than happy to wreck everything unless you relinquish all your parental instincts.
This metaphor is already too stretched. But trying to make sense of what we’re witnessing requires defying most logic and language.
This is a hostage situation.
This is a reckless cabal that ran up the bill and now refuses to pay it.
This is a sign of just how broken our politics are.
The world looks on with disbelief.
Perhaps there would be a grim humor to the rampant absurdity if we weren’t dealing with a ticking time bomb that has the potential to blow up the American and global economies.
Apparently it is easy to ignore the chaos when you are immersed in alternative fantasies. Fox News talking points won’t pay the creditors. Unhinged conspiracy theories will provide no respite from the ultimate effects of that pesky concept called reality.
We all know that you make the best decisions when you’re plummeting toward an abyss, right? This shameless crowd weaponizes their blatant hypocrisy.
It’s fine to explode the debt when a Republican is in the White House and then stick the Democrats with the burden of galloping to the cliff's edge. Responsibility is for suckers.
It is true that our system of government was built on debate, compromise, and deliberation. But that is not what this is; this is a shakedown. This is using an existential threat to wrest concessions that would never occur in a proper legislative process.
Perhaps a deal will emerge that is not horrible. Perhaps it will pave the way for smoother running for the remainder of this Congress. Perhaps we will avoid the potentially catastrophic outcomes.
We certainly can hope for that. But let’s be clear before we get to the end game: This never should have happened. And the process is rotten no matter what transpires.
This pathetic political pantomime is beneath us as a nation. It is as embarrassing as it is dangerous.
Hopefully we’ll get some last-hour resolution and pull back from the brink. If not, the price figures to be exceptionally heavy.
Either way, can we — will we — resolve never to let this happen again?
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