Daily News Thread 5/3

Bus drivers in Japan go on strike by refusing to take riders' money

Bus drivers in Okayama working with Ryobi Group have taken to the streets in an unusual form of protest. While technically on strike, they are continuing to drive their routes while refusing to take fares from passengers.
japantoday.com/category/national/okayama-buses-strike-by-continuing-to-run-and-refusing-to-take-anyone’s-money?

China is firing on all cylinders as it ramps up its trade war with the US

China is signaling that it won't back down from a trade battle with President Donald Trump and the US.
businessinsider.com/china-soybean-imports-from-us-trade-war-trump-tariffs-2018-5

Zimbabwe's opposition leader has pledged to rid the country of Chinese investment

Zimbabwe's opposition leader has pledged to rid the country of investment from China if he wins the nation's upcoming July elections.
businessinsider.com/chinese-investment-in-zimbabwe-opposition-leader-2018-5

N Korea and S Korea combine rather than play each other

Just days after leaders of the two countries pledged to rid the Korean peninsula of nuclear weapons, the two nations have unified in the table tennis hall - rather than compete against each other amid a backdrop of inter-Korean reconciliation.
bbc.com/sport/table-tennis/43990310

Chinese Military Targeting US Flight Crews Over Djibouti With Lasers - Reports

Chinese military personnel is using lasers to target American military flight crews over Djibouti, The Wall Street Journal reported.
sputniknews.com/world/201805031064120635-china-africa-djibouti-us-flight-crew-military/

Peeing in trash cans, constant surveillance, and asthma attacks on the job: Amazon workers tell us their warehouse horror stories

Several Amazon staff members from across the world have described to Business Insider the intense pressure of working in a warehouse, where they pick and pack items for delivery.
businessinsider.com/amazon-warehouse-workers-share-their-horror-stories-2018-4

Texas sues Trump administration to end 'Dreamers' program

Texas and six other Republican-governed states on Tuesday sued the Trump administration to try to end a program launched by Democratic former President Barack Obama that protects immigrants brought to the United States illegally as children.
reuters.com/article/us-usa-immigration-texas/texas-sues-trump-administration-to-end-dreamers-program-idUSKBN1I24FN

Another Top EPA Official Is Leaving, Sources Say

A third top EPA official is leaving the agency amid intensifying scrutiny of Administrator Scott Pruitt’s travel, spending and condo rental.
bloomberg.com/news/articles/2018-05-03/another-top-epa-official-is-said-to-exit-amid-deepening-scrutiny

White House Asked to Fight Opioids by Overriding Drug Patents

The city of Baltimore and a consumer group are asking the Trump administration to fight the opioid epidemic with a novel weapon: overriding U.S. patents on the overdose antidote naloxone.
bloomberg.com/news/articles/2018-05-03/white-house-asked-to-fight-opioids-by-overriding-drug-patents

Trump lawyer Ty Cobb exits Russia inquiry

President Donald Trump's lawyer for the probe into alleged collusion between his election team and Russia has left, in the case's latest legal shake-up.
bbc.com/news/world-us-canada-43984180

Georgia plane crash: Nine dead after military plane comes down in US state

Nine people have been confirmed dead after a military cargo plane crashed in the US state of Georgia.
bbc.com/news/world-us-canada-43983718

Cambridge Analytica: Facebook data-harvest firm to shut

Cambridge Analytica, the political consultancy at the centre of the Facebook data-sharing scandal, is shutting down.
bbc.com/news/business-43983958

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Other urls found in this thread:

nakedcapitalism.com/2018/05/the-revenge-against-the-commons.html
bilbo.economicoutlook.net/blog/?p=39234
thenation.com/article/in-rural-america-the-postal-service-is-already-collapsing/
weeklyworker.co.uk/worker/1201/corbyn-grow-a-backbone/
colddarkstars.wordpress.com/2018/05/02/on-hegel-and-the-intelligibility-of-the-human-world/
theintercept.com/2018/05/03/uk-far-right-terrorism-national-action/
en.m.wikipedia.org/wiki/Raoul_Vaneigem
bloomberg.com/amp/news/articles/2018-05-03/afonso-dhlakama-mozambique-s-opposition-leader-dies-at-65
businessinsider.com/china-soybean-imports-from-us-trade-war-trump-tariffs-2018-5
reuters.com/article/us-usa-trump-daniels/giuliani-says-trump-repaid-130000-his-lawyer-spent-to-quiet-porn-star-idUSKBN1I405J
en.wikipedia.org/wiki/New_Economic_Policy
counterpunch.org/2016/02/09/selective-attention-to-diversity-the-case-of-cruz-and-rubio/
bloomberg.com/news/articles/2018-04-18/world-debt-hits-record-164-trillion-as-crisis-hangover-lingers
thenational.ae/business/money/the-7-trillion-debt-pile-looming-over-chinese-households-1.725499
thecorner.eu/world-economy/debt-as-the-current-biggest-economic-threat/72713/
twitter.com/SFWRedditImages

yep, there's the proxy war. fucking dumb nigger could have played both sides to his advantage.

OOOOH IT'S THE US STATE
I actually thought they had a military plane flying over pic related. Well, that makes this a lot less interesting

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OP/ED

The Revenge Against the Commons

Why France’s biggest police operation since May 1968 is prepared to kill for Macron to roust a 4000 acre commons.
nakedcapitalism.com/2018/05/the-revenge-against-the-commons.html

Education – a faux crisis, an erroneous ‘solution’ and capital wins again

One of the ways in which the neoliberal era has entrenched itself and, in this case, will perpetuate its negative legacy for years to come is to infiltrate the educational system.
bilbo.economicoutlook.net/blog/?p=39234

In Rural America, the Postal Service Is Already Collapsing

Cutbacks have created a labor shortage at smaller stations, and mail carriers are struggling to do their jobs.
thenation.com/article/in-rural-america-the-postal-service-is-already-collapsing/

Corbyn: grow a backbone

Sacrificing an outstanding anti-racist for having dared to criticise a pro-Israel MP will only increase the appetite of the right, warns Tony Greenstein
weeklyworker.co.uk/worker/1201/corbyn-grow-a-backbone/

On Hegel and the Intelligibility of the Human World

colddarkstars.wordpress.com/2018/05/02/on-hegel-and-the-intelligibility-of-the-human-world/

British Neo-Nazis Are on the Rise — and They’re Becoming More Organized and Violent

theintercept.com/2018/05/03/uk-far-right-terrorism-national-action/

Jeez, it sure takes a while for the first world subhuman radioactive gooks to get pissed.
HAIL CHINA
Is Zimbbawe's Obongo anti communist? regardless, I don't like this nigger being against China. Fucking nigger.
Amazon lol

Was Raoul right? I’m excited to see how this plays out.
en.m.wikipedia.org/wiki/Raoul_Vaneigem

I mean this isn't a new tactic, french metro drivers have done it for years.

This is actually the start of the next red revolution.

It's not that surprising really, the writing for this has been on the wall for years
That said, I fully expect USPS to be completely gutted by this time next year and phased out completely before the mid 2020s

Make your point but don't deny services so people can't bitch about being inconvenienced, that's how it's done.

Bus drivers are literally doing communism right now

go away, liberal

I wonder who could be behind this.

I'm speaking from the perspective of Liberals from their point of view, as in "liberals can't pull the same bullshit card about being inconvenienced this time." Polite sage

These fuckers REALLY want to lose the hispanic vote and make Texas and Arizona blue forever, don't they?
They should be courting them since it's a matter of time, even without any immigration, before these states become majority hispanic

They never really had it in the first place

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Afonso Dhlakama, Mozambique's Opposition Leader, Dies at 65

bloomberg.com/amp/news/articles/2018-05-03/afonso-dhlakama-mozambique-s-opposition-leader-dies-at-65

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No.

>businessinsider.com/china-soybean-imports-from-us-trade-war-trump-tariffs-2018-5
The US will be flooded with excess soy bean crops.
They'll start putting it in all foods like with corn syrup.
Trump's trade war will turn the nation's men into soyboys.

Exploding deficit HO!

Giuliani says Trump repaid $130,000 his lawyer spent to quiet porn star

reuters.com/article/us-usa-trump-daniels/giuliani-says-trump-repaid-130000-his-lawyer-spent-to-quiet-porn-star-idUSKBN1I405J


I think it's bizarre how America has become so completely desensitized to Trump's lies. Slick Willy is probably green with envy.

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That's pretty good.
t
h
x

And lose the white rural vote? Unthinkable.

This. Rural porky needs harsh immigration rules so they can use them against their migrant workforce.

You also need to distract rural whites from your party's continuing destruction of their way of life.

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You’re talking like there isn’t a split in Hispanics. Most American Hispanics aren’t foreign-born and for many it has been generations since their family came to the US. I think it’s worth talking about because 2016 saw record Hispanic report for the Republican Party and a record yield of Hispanic republican candidates

jeff bezos: more money than anyone in the history of the world, more money than many countries, yet cant give his workers a living wage, guarantee health care, or give them decent working conditions.

right wingers defend this

every other capitalist does it

capitalism as a whole is evil, not just the men who comprise it

This article gets it wrong. The USPS is downsizing rural operations in many areas simply because rural areas are depopulating, as a result the USPS moves from home delivery to PO boxes then branch offices inside formal towns (which are not part of the rural service). This says much more about the state of rural America than the USPS.

Also the USPS won't be gutted because it would mean more work and less business for Fedex and UPS. As things stand both Fedex and UPS do most of the USPS's trunk shipments, this is what justifies their fleets of aircraft. They get all the fat money from government contracting yet the government handles all the hard stuff by being the front end for customers. Also they don't have to deliver letters which probably wouldn't make money without raising postage fees, but then people wouldn't mail letters.

A demonstration of this can be seen with Amtrak's former Material Handling Cars, which used to carry USPS mail. America's railroads complained that this infringed on their freight business and their right to do business with the USPS, so Amtrak was forced to abandon them to private business. The USPS largely didn't see much of a difference even though a portion of it was effectively privatized.

Which is why the USPS has survived and will continue to survive. It's already largely privatized except the part that doesn't make money. Tampering with it's current form only hurts capitalist businesses which is why not even Tea Partiers do it. The USPS is just a massive subsidy for the private industry, which is also why the USPS never considers doing anything like offering free email hosting or banking services like they used to.

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Xi is giving a speech on Marx right now.

"Marxism is always the guiding thinking for our party and our country."

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about as relevant as Bruce Rauner saying Lincoln is the guiding spirit for his party and our country

He's coming back, baby!

Oh boy. Two: Rubio and Cruz.

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It's all they need. The Republican party has always been the beaner party, the massive waves of central american immigration in the late twentieth century will appear like an aberration once their children gentrify into regular white americans over the next decade or two.

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It's done.
Talk is easy, I'll believe it if they expropriate their large private enterprises.

Most of China's markets are already publicly owned, which is a problem because most of the SOEs are either zombie companies living off cheap loans or state owned banks that provide SOEs with cheap loans. This is the danger of state capitalism.

en.wikipedia.org/wiki/New_Economic_Policy

granted, a silver lining is that it is state owned, and that implies it can't just bend to market demmand and grow into a bubble without government punishment unlike in america

America's last bubble happened because of government-backed home loans creating mortgage-backed securities investors thought the government would fully back. When technical details got in the way (the government would only back the value of the mortgages which was often below the price investors purchased them at) it caused the mortgage meltdown. Having the government own/help things doesn't itself lead to better markets because markets inherently promote corruption.

Yes, but they were also in the top three candidates for nomination:
counterpunch.org/2016/02/09/selective-attention-to-diversity-the-case-of-cruz-and-rubio/


This

SOEs owing money to state owned banks not a problem if China follows MMT, which they do to an extent (more so than the west which isn't saying much). The problem is if SOEs cannot produce usable products then they are a waste of labour and a sink on the overall growth of China. Last I checked, certain SOEs such as aircraft manufacturing and shipbuilding were doing well. On the other hand steel and other traditional heavy industry have a huge crises of overproduction.


When is the best time to wean a child off breast feeding? 1,2,3,5? Certainly not 40.

Basically all industries not doing partnerships with American firms (re: receiving American investors' money) are having some sort of problem. It's either overproduction causing a supply glut making new investment uneconomical (or impossible due to US antidumping sanctions) or huge SOEs having all their profits go to servicing debt payments at state owned banks who need that money to insure deposits against the rising number of non-preforming loans.

It's telling that you mention aircraft and shipbuilding as these are two places where American firms are the most involved, especially Boeing's commercial aircraft sector. The other one is nuclear power, the vast majority of China's new reactors are all US built. This is eventually going to cause problems when China inevitably tries ripping off the tech (or use it to build bomb fuel).

sure, but the government in america is almost beholden to wall street, the dynamics are very different, shown by how trump recently repealed the bill that prevented predatory lending by wall st

The Material Conditions for china require foreign markets to develop before It can completely go to socialism
also Xi Jingping turning china back to socialism is more likely than a cuckdem party in the first world becoming socialist

There's functionally no difference. Beijing is enslaved to their markets like America is to theirs. Look at how quickly Beijing moved to introduce stock sell bans during their near 2015 crash, that was demanded by the top executives at companies who didn't want peons/investors under them from selling stock and crashing the company. This is blatantly corruption on the part of China's publicly operated market exchange authorities who are working with the proprietors of the SOEs.

The dynamics really aren't that different in this regard, as the amount of money from taxpayers continues to flow into SOEs as loans which flow back into SOEs as money made available for depositors, who then turn the money back as taxes. This is very similar to what Fannie Mae, Freddie Mac and Sallie Mae all do but with private firms instead of SOEs. Although in China's case because all the SOEs are government owned, if they go bankrupt the state must then raise taxes to insure investor confidence in the state's credit rating. This is done by obtaining more deposits from banks through taxes, but if there are not enough deposits than the banks go bankrupt as people stop having money and the economy crashes.

Thus is why capitalism never works.

The ripping off inevitably happens even if the west is careful about partnerships. The current chinese military jet engine was reversed engineered from the boeing 737 engine (which itself was derivative from the F-15 engine). So ironically chinese are flying soviet designed sukhois with american derived engines. I'm pretty sure nuke plants have already been ripped off as well. Maybe not to the point where they can get away with selling it on the international market but for domestic use only. They also have had nukes since 1960s so they don't really need any help in producing enriched uranium.

I see talk of SOE debt everywhere but how much of that debt is owed to the state and how much is owed to foreign creditors either directly or indirectly? Are there even reliable figures for this?

Most of China's debt is owned to their own domestic banks, as is the case with America and most other developed countries. This doesn't change the fact that they are overleveraged, which is why Xi is pursuing austerity with Chinese characteristics.

As the graphs show it's well over 200% of GDP now. Which is to say Chinese households now have debt double the size of their economic output, meaning their economic output has to either double to pay those off or they go bankrupt as loan payments consume a larger and larger fraction of their income. This will inevitably cause something intrinsic and expected of capitalism: and economic recession. Something China's government is desperately trying to avoid because their recordbreaking debt load isn't something that can be fixed through a bailout without causing hyperinflation (a thing America will sanction them for as currency manipulation).

bloomberg.com/news/articles/2018-04-18/world-debt-hits-record-164-trillion-as-crisis-hangover-lingers

thenational.ae/business/money/the-7-trillion-debt-pile-looming-over-chinese-households-1.725499

thecorner.eu/world-economy/debt-as-the-current-biggest-economic-threat/72713/

The entire world has this problem but again, as the graphs show China has it worse than everyone else given the accelerating credit growth in the past ten years.

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Well then it seems the debt to GDP level is over where every other state started experiencing crisis. I suspect the Chinese government will go through with bailout if they think it is needed regardless of what the American response will be. We might even get WW III out of this. Another equally dangerous solution could be debt cancellation, well see if they have the balls to pull that off. The question is whether or not the crisis hits them before their military is ready to fight a regional war. Stalin hoped for peace until 1942, will China get it?

All debt cancellation would do is bankrupt the banks, causing depositors to loose all their deposits thereby bankrupting them. And since the banks are bankrupt so is the government because they own the banks. Everything crashes and burns as nobody has money except for people who didn't use banks (eg people who hoarded cash, foreign investors and welfare recipients). Even if this creates the conditions for communism, it will severely damage the current Chinese state.


Stalin bordered a failed state known as the Wiemar Republic. At the most China has India but it remains to be seen if India would be stupid enough to escalate a war with them,

They'll have to borrow money from China to do it.

Stop repeated nazi propaganda.

No, Trump will just ban Chinese soybean imports per antidumping rules. The same antidumping rules he's already used against Chinese phones, solar cells, semiconductor components, steel and cement. The same antidumping rules Obama began investigating China under during his last term. Other countries can be quickly roped into this too, especially if it's done under the NAFTA ruleset as Mexico wants.

This whole thing is like jet fuel on Trump's trade war. In fact, it is a trade war but Wall Street won't admit it yet because they are clinging onto the delusional hope the global system their money relies on is somehow sustainable.

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...

If the state owns the banks they can adjust the account balances as they see fit, their economists probably have all sorts of contingency plans with details of consequences for each plan. Of course I doubt the Chinese will do this. Their government is extremely cautious and prefers to do things with historical precedence rather than innovate on policy. On war, war with the US will be much more likely when the next crisis hits.

cooking the books is plenty innovative, it's also the oldest strategy available

Imagine being cucked so hard you become a nazi.