The Arse Technica article is, of course, extra-conciliatory--making all kinds of excuses for the FAA--because even though the guy in charge is the same guy who was in charge last week, this week he has a new boss, one who has very likely been paid extra-well to ensure that Boeing doesn't have to run extra-fast to catch up.
You did see that, didn't you? Boeing's fully-disposable piece of junk--which is years late and billions over budget--couldn't handle a full-duration test firing; it was supposed to run for nine minutes and crapped out after a minute. And they can't just fill 'er up and try again, either, because the disposable fuel tanks have a limited number of pressurization cycles before they're no longer safe for flight. Because old-fashioned junk is old-fashioned.
The inaptly-named "Space Launch System" is a worthless boondoggle. It was built using off-the-shelf hardware, but it's something like five years late, its first test flight having originally been slated for 2016, and because the rocket is entirely disposable it's going to cost more to fly than the space shuttle did, which cost a billion dollars per flight.
Starship is designed to be a cheap heavy-lift booster, and despite the fact that SpaceX started building them something like a decade after Boeing started in on SLS, Starship has already flown once. Not to orbit, it's true, but it went up and came down the way it was supposed to, and the only reason they don't still have SN8 is because there was a problem with a fuel tank not being pressurized correctly. SN9 has been ready to fly all week long and the only reason it hasn't is because the FAA won't let SpaceX fly it.
And the only difference between SN8 and SN9 is who's sitting in the oval orofice.
I can guarantee that if Trump were still in office and this was happening, Arse Technica would be playing an entirely different tune.
So the FAA is forcing them to stop flying while they do...something...and the Justice Department is investigating SpaceX for not hiring a foreign citizen.
They're gonna be prosecuted for not hiring foreigners at an ITAR sensitive firm, and one of the Few U.S. firms with a global technological lead in its fields. There is no info on what the nationality is but as this doesn't seem to have been an issue until president Djo Bai Din came into office, I would be very interested in knowing that crucial fact.ITAR is a set of regulations which govern how certain technologies may be exported, or not, as the case may be. Rocket technology is very ITAR sensitive, because the last thing we want is to help our potential enemies *cough*CHINA*cough* figure out how to hit specific spots with big bombs on missiles, for example.
Here's another take on the issue.
Who are SpaceX being accused of discriminating against? Non-US citizens. A US company that makes rockets and launches Defense Department payloads would rather employ Americans? How is this even remotely controversial?It's not...unless you're a communist administration which was been instructed by its big-money donors (foreign and domestic) to do SOMETHING about that asshole Musk and his disruptive upstart company that's actually making access to space cheap.
SpaceX is actually building a bright future and if there is anything--ANYTHING AT ALL--that communists hate with a firey passion, it's a bright future where people can make money and live well.
* * *
So, with the GameStop imbroglio, it should noe be obvious to everyone (as it was to lots of us on the right wing years ago) that the democrat party is not the party of the working class, but the party of the hyper-rich. And it's been that way for a long time.
The hedge fund hurt worst by this thing, Melvin, has seven clients. They are not nickle-and-dime clients, but seriously rich people.
Karl Denninger explains it in a very dense and typographically emphasized fashion. The TL;DR version is that Melvin was shorting 130% of the shares of GameStop, which is illegal, and the remedies attempted so far have also been illegal.
I agree: it's time to rein in that shit. Short selling ought to be illegal. Any form of "vulture capitalism" ought to be.
Do you know why millennials can't afford to get married, buy houses, and start having kids in their twenties? Because Wall Street spent the last fifty years systematically strip-mining the American economy, that's why. Fifty trillion dollars have been transferred from the middle class to the hyper-rich. When they win, it's all theirs! When they lose, "Oh boo hoo hoo, we need a bailout because the economy can't work without our banks!"
There are two ways that our financial system can go from here. The first is to let the fuckers fail, and fail hard, and keep what little integrity the dollar has left. That means that the dollar retains its status as a reserve currency, but it also means that a lot of Wall Street fuckers end up walking around in barrels. It would be a heavy blow for our economy, but ironically it would hurt the richest 5% a lot more than it would hurt the 95%...and at this point, I'm pretty much all for it. The richest 5% run the government, and they run it for themselves. (For example, see above about SpaceX and Boeing.)
The other way is to save the rich from the consequences of their actions...but if we do that, the dollar loses its status as a reserve currency, because (among other things) it will hyperinflate into toilet paper. Okay, did a very quick search and learned that Bill Gates is worth $100 billion. That's all well and good when a loaf of bread costs $2.50; but when a loaf of bread costs ten billion dollars? It's more complicated than that because Gates' net worth is mostly Microsoft stock, and he'd have to sell that to spend it, and of course the stock market will hyperinflate with the currency, but at the same time stock prices will decline relative to the value of the dollar just because no one can afford to buy the products made by the corporations. When a copy of Windows 10 costs $300,000,000? When the computer you want to run it on costs four trillion dollars? If bread is a billion dollars and Bill Gates' net worth is ten trillion, he's not nearly as rich as he was, is he? (A hundred billion buys forty billion loaves of bread at $2.50 a loaf. Ten trillion buys a hundred thousand loaves of bread at $1 billion per loaf.)
Saving the rich works in the short term, but in the long term they get ruined just as thoroughly as if we did nothing. And in that economy, what you can do is a hell of a lot more important than how much your holdings are worth, because your holdings are paper. So you're fine if you can wire a fuse box or install a dishwasher or replace a ball joint or hang a gutter; but if all you know how to do is trade stocks, you're going to have to get aquainted with dish soap and vegetable harvesting. (And by the way, all the illegals you wanted amnesty for? They'll be your boss, so I'd brush up on your Spanish if I were you.)
Meanwhile, here at last is the motivation for all this.
There was a game release for a new game that was highly anticipated by the geeks and gamers (i.e. Autists) called CyberPunk 2077. Now, if you don't game, you might have heard about what a shitshow the release was. All fucked up... buggy as hell. See, apparently the suits at CDProjectRed, the developer company, smelling a mad profit, forced Cyberpunk 2077 to be released early. It wasn't ready, and the game has been limping along. It was so fucked up that Playstation, for the first time ever, gave a refund for purchases made online through their consoles.Now this explains to me why a bunch of gamer/internet geeks went all Gordon Gecko on Melvin Capital. Cyberpunk 2077 was a hotly anticipated game, and appears to be extremely popular despite the bugs etc.
In steps Melvin Capital.
Who shorted the fuck out of CDProjectRed.
They made a pile o'cash, and really put the hurt on the company.
That's a theory that makes sense to me.
Here's the thing: if you look up the definition of "game theory", you get something like this:
Game theory is the study of mathematical models of strategic interaction among rational decision-makers. It has applications in all fields of social science, as well as in logic, systems science and computer science. Originally, it addressed zero-sum games, in which each participant's gains or losses are exactly balanced by those of the other participants.Understand that people who really like games, to the exclusion of all else, are usually very smart people who are...unusually focused. (That's why people refer to "autists" and so forth.) But these are people who can not only learn and retain a huge number of extremely intricate rules, but interpret and exploit them on the fly.
The only reason they are not lawyers or financial wizards stems from the fact that these fields are BORING. There's nothing really interesting about adding a dime to the dividend or finding a loophole that gets your client off the hook; and besides, those kinds of careers require a lot of people skills, and very smart people find ordinary people kind of dull. What's the point of having a conversation with someone when you have to stop every other sentence and explain something you understand intrinsically? The gamers don't care what the finance guys do as long as they can play their games. They want to do interesting things, not boring shit.
...but then you go and make it personal--such as financially ruining the publisher of an eagerly anticipated game that just came out, thus endangering the host server and the flow of bug fixes and expansion packs. That makes the tedium of learning the rules of the "Stocks and Securities LARP" worthwhile. And the thing is, these guys have a hell of a lot of practice at learning, understanding, and exploiting rules than you will ever have. Sure, they got that experience by pretending to be wizards and elves or Erwin Rommel or whatever, but if you have never read the rulebook for a long-standing wargame I advise you not to try it; your head will explode. (Go read what Vox Day has to say about Advanced Squad Leader.)
And once again, we're shown how corrupt our society has become, because a relative handful of gamers managed to outsmart Wall Street in a completely legal fashion...and the responses have been anything but legal.
And then, once they started learning, and got inside Melvin Capital's OODA loop, that was all she wrote. Now, if Melvin and his gang had just taken their lumps like a man so to speak, shit would have settled back down. The autists would have found something else to fuck around with, and things would have gone back to 'normal', for the values that thereof.The answer is, "not very", because we've let the inmates run the asylum for far too long.
But no, they had to act like bitches, and gett all "Elite-y" and "We'll show these proles who's boss!" and did very and exceptionally stupid things that only furthered the rage, which has now spread to Normie-Street, and is raising a lot of extremely uncomfortable questions again vis-a-vis the two tiered just-us system, the markets, and "Just how free IS this fucking market of which you speak?"
* * *
Speaking of which, this guy was a lawyer for the FBI and he forged documents to frame an innocent man--and he gets a slap on the wrist for it. Probation, $100 fine, 400 hours of community service.
Know what the FBI's motto is? "Fidelity, Bravery, Integrity". I think we can scratch "integrity" off the list because in the last five years, the FIB has proven beyond any reasonable doubt that it has none. All the crap they made up to try to get Trump, the way Hillary Clinton was just excused from indictment for the security lapses (not to mention conducting state business on a private server so there wouldn't be a paper trail!), the fact that so many big names end up being indicted for process crimes--the FBI is nothing but the American version of the KGB at this point, and they need to be disbanded. #DefundFBI
* * *
So, governor Nipple Piercings is saying he's going to raise taxes if New York state doesn't get a federal bailout. That's perfect, you stupid perverted old man; your state is already hemorrhaging rich people, so why not make it even worse?
But you need not worry. Pelosi will shit out a bailout for all the blue states who mismanaged themselves into the shitter, and once you get those sweet federal funds you'll be able to claim that they're not enough and raise taxes anyway, because that's how democrats always do things. "Thanks for giving me what I asked for, but it's not enough and I want more."
The writer of the article says "There is not a single Republican senator who will vote to bail out New York, New, Jersey, Illinois or other corrupt states with union pension woes of their own making." He obviously has not heard of Mitt Romney and the rest of the "gang of five", the RINOs who reliably vote with the democrats.
"Given the 50-50 Senate split, it only takes one Democrat to stand up to such fiscally mad proposals," it goes on. "The most likely candidate is West Virginia Senator Joe Manchin."
Ha! Haaa! You're such an optimist! Do you honestly think that once Cuck Schemer starts twisting arms there'll be so much as one member of the democrat caucus who breaks ranks and votes "nay" to tax and spend the American public into oblivion? I trust democrats about as far as I could piss a battleship, for fuck's sake, and I don't trust the republicans even one foot past that distance.
* * *
Speaking of the rapid rise of fascism in America, they're already working on unpersoning the Jews. I honestly don't understand what it is about Judaism that makes the left so frenetically anti-semitic, but the left absolutely cannot function without attempting to wipe them out.
It's a useful bellwether, though, for determining exactly how screwed you are at any given time. Jews are the canary in the coal mine; when a society starts to oppress its jews, you know it's going to get around to oppressing you in relatively short order.
* * *
Oh, and by the way, speaking of oppression apparently Biden is in trouble for not specifying that he meant "people who menstruate".
I'm on board with this, too: "We'll be 'menstruating persons' and 'non-menstruating persons.' Women will be utterly dehumanized and reduced to a bodily function." ...which will do the Biden regime so much good....
* * *
Karl Denninger opines on what electrifying the transportation infrastructure will do for us. TL;DR: nothing good. It's going to wreck a lot of our economy and a lot of our freedom. For the American left, that's "features as far as the eye can see" since none of them will have to worry about keeping their cars charged. The hyper-rich left will, of course, still be allowed to burn gasoline.
* * *
Oh, you poor dumb bastards, you think a democrat regime is going to honor a treaty they find inconvenient? It's like no one studies history any more. The democrats are on China's side, not yours. After all, the Philippines are poor and can't donate massive sums of money to democrat reelection funds, now, can they?
You guys better drop Tagalog and Visayan and start learning Mandarin.
* * *
Once again, we have to explain why a $15 minimum wage is a really bad idea but again, the democrats don't give a wet fart about how many proles are unemployed. They want the proles unemployed and the middle class reduced to poverty. That's how they know they're in power, and that's how they remain in power.
* * *
This is about right. We can't vote our way out of this, folks.
* * *
Anyway, Friday evening, and we're going to do some shopping and have a little fun.
Supposed to get eight inches of global warming tomorrow. I'll believe it when I see it--the last storm was supposed to do that and we didn't get three--but I'm glad I bought salt and got the big snowblower running.