Posts Tagged ‘Twitch’

LinkSwarm For June 28, 2024

Friday, June 28th, 2024

Half a year gone already. This week: The debate confirmed that pretty much everything Republican said about Biden being old and out of it was true, people can’t afford housing anymore, the Supreme Court reigns in the administrative state, a whole bunch of layoffs come down the pike, two sorta, kinda coups, fake meat doesn’t pay, and we say farewell to a Texas original. It’s the Friday LinkSwarm!

  • I didn’t watch the debate, because I had Things To Do, but evidently Biden looked every bit as old and out of it as we all expected.

    President Joe Biden looked old and disoriented during Thursday’s CNN debate with Donald Trump. He spoke in a quiet and hoarse voice, made some incoherent answers, and often stumbled over his own words.

    It was a lackluster performance that played directly into Republican depictions of the 81-year-old president – the oldest president in American history — as too old and frail to serve another four years in office. Trump said as much during the debate.

    “He’s not equipped to be president,” Trump said. “You know it and I know it.”

    The debate was a highly personal affair between two men who made little effort during their nearly two hours on stage to contain their disdain for one another.

    Biden called Donald Trump a “loser,” and a “whiner” with the “morals of an alley cat.” Trump accused Biden of turning the United States into a “third-world nation” and of being the “worst president in history by far, and everybody knows it.”

    Trump turned in a spirited performance, hammering Biden on inflation and the immigration crisis under his watch. But Biden’s struggles seemed to be the major takeaway for CNN’s post-debate panel, which reported that senior Democrats are in an “aggressive panic” over their party leader’s apparent frailty.

    Speaking about improvements he’s claiming at the border, Biden at one point seemed lost, saying: “I’m going to continue to move until we get the total ban on, the total initiative relative what we’re going to do with more border patrol and more asylum officers.”

    “I don’t really know what he said at the end of that sentence,” Trump replied. “I don’t think he knows what he said either.”

    At another point, Biden got visibly lost when talking about his plan to raise taxes on the wealthy to wipe out the debt, saying he wanted to make sure “that we’re able to make every single solitary person eligible for what I’ve been able to do with, with, with the Covid, excuse me, with dealing with everything we had to do with, look, we finally beat Medicare.”

    “Well, he’s right,” Trump said, “he did beat Medicare. He beat it to death.”

  • Some lowlights:

  • Democratic reaction to Biden’s performance included words like “freakout” and “panic.”

    He stammered. He stumbled. And, with fewer than five months to November, he played straight into Democrats’ worst fears — that he’s fumbling away this election to Donald Trump.

    The alarm bells for Democrats started ringing the second Biden started speaking in a haltingly hoarse voice. Minutes into the debate, he struggled to mount an effective defense of the economy on his watch and flubbed the description of key health initiatives he’s made central to his reelection bid, saying “we finally beat Medicare” and incorrectly stating how much his administration lowered the price of insulin. He talked himself into a corner on Afghanistan, bringing up his administration’s botched withdrawal unprompted. He repeatedly mixed up “billion” and “million,” and found himself stuck for long stretches of the 90-minute debate playing defense.

    And when he wasn’t speaking, he stood frozen behind his podium, mouth agape, his eyes wide and unblinking for long stretches of time.

    “Biden is toast — calling it now,” said Jay Surdukowski, an attorney and Democratic activist from New Hampshire who co-chaired former Maryland Gov. Martin O’Malley’s 2016 presidential campaign in the state.

    In text messages with POLITICO, Democrats expressed confusion and concern as they watched the first minutes of the event. One former Biden White House and campaign aide, granted anonymity to discuss the matter, called it “terrible,” adding that they have had to ask themselves over and over: “What did he just say? This is crazy.”

    “Not good,” Rep. Jared Huffman (D-Calif.) wrote.

  • Still, Biden’s people swear he’s not dropping out. So there’s a 50/50 chance he drops out.
  • A short roundup of all the Democrats who lied about how “sharp” Biden was.
  • It’s an insoluble mystery: “Home prices are at an all-time high; meanwhile, pre-owned home sales are at a 30-year low.”

    Sales of previously owned homes are sitting at a 30-year low and didn’t move much in May as prices hit a new record and mortgage rates remain high.

    So-called existing home sales in May were essentially flat, down 0.7% from April to a seasonally adjusted, annualized rate of 4.11 million units, according to the National Association of Realtors, or NAR. Sales fell 2.8% from May of last year …

    The median price of an existing home sold in May was $419,300, a record-high price in the Realtors’ recording and up 5.8% year over year. The gain was the strongest since October 2022. Prices gained in all regions.

    The Realtors noted in a release that the mortgage payment for a typical home today is more than double what it was five years ago.

    It’s almost as though the Biden Recession, constrained supply (a great deal from blue locale regulation that prevent housing from being built), and high interest rates mean that no one wants to buy or sell.

  • You know who else is screwed? Apartment renters.

    According to a new report, the average renter can’t afford a typical U.S. apartment.

    According to Redfin, the typical U.S. renter household earns about $54,712 per year, which is 17.3% less than the $66,120 needed to afford the median-priced apartment at $1,653 per month. This means that 61% of renters can’t afford their housing without significant financial stress.

    Snip.

    Inflation, which has surged during Biden’s presidency, certainly exacerbates this issue. Rising costs for essentials like food, gas, and utilities leave renters with even less disposable income to cover their housing costs. Despite promises to address affordability and economic inequality, the Biden administration has doubled down with claims that inflation is going down and that wage growth has outpaced it — which isn’t true. Biden has made it more difficult for Americans to achieve financial stability.

    (Hat tip: Stephen Green at Instapundit.)

  • More Biden Recession layoffs, including cuts from:
    • Nike
    • Google
    • Discord (170)
    • CitiGroup (20,000)
    • Twitch, owned by Amazon (500)
    • BlackRock (600)
    • Rent the Runway
    • Unity (1,800, 25% of the company)
    • eBay (1,000)
    • Microsoft (1,900, plus more from Xbox)
    • Salesforce (700)
    • Flexport (1,400, 15% of the company)
    • iRobot (350)
    • UPS (12,000)
    • PayPal (2,500, 9% of the company)
    • Okta (400, 7% of the company)
    • Snap (19% of the company)
    • Estée Lauder (3,100)
    • DocuSign (6% of the company)
    • Zoom (150)
    • Paramount (800)
    • Morgan Stanley
    • Cisco (4,000, 5% of the company)
    • Expedia Group (1,500, 8% of the company)
    • Sony (900)
    • Bumble (350, 30% of the company)
    • Electronic Arts (670 workers, 5% of the company)
    • IBM
    • Stellantis (400)
    • Amazon
    • Apple (600)
    • Tesla (10% of the company)
    • Take Two Interactive (5% of the company)
    • Peloton (400, 15% of the company)
    • Indeed (1,000)
    • Walmart
    • Under Armor
    • Pixar (part of Disney) (175 people, 14% of the company, who must have been thrilled to get a pink slip and then see unwoke Inside Out 2 go on to be Disney’s biggest movie of the year)
    • Lucid Motors (400)
    • Walgreens

    Some of these have been previously announced.

  • Big Supreme Court news: They struck down the Chevron decision.

    The Supreme Court on Friday issued a ruling overturning the 1984 Chevron v. National Resources Defense Council case, striking down a previous decision that granted federal agencies immensely broad power to draw up regulations without congressional approval.

    The Court ruled in both Loper Bright Enterprises v. Raimondo and Relentless v. Department of Commerce — two nearly identical cases — that regulatory agencies will no longer be able to fill in the blanks of vague legislation in 6-2 and 6-3 decisions, respectively. Justice Ketanji Brown Jackson recused herself from the first case because she sat on the federal appeals court that had previously heard the case.

    In his majority opinion, Chief Justice John Roberts wrote that it is not the place of agencies to clarify ambiguous legislation.

    “Perhaps most fundamentally, Chevron’s presumption is misguided because agencies have no special competence in resolving statutory ambiguities,” he wrote. “Courts do. The Framers, as noted, anticipated that courts would often confront statutory ambiguities and expected that courts would resolve them by exercising independent legal judgment.”

    Writing a concurrence, Justice Neil Gorsuch argued that the concept of Chevron deference “undermines” many of the principles on which the United States was founded.

    “It precludes courts from exercising the judicial power vested in them by Article III to say what the law is,” he wrote. “It forces judges to abandon the best reading of the law in favor of views of those presently holding the reins of the Executive Branch. It requires judges to change, and change again, their interpretations of the law as and when the government demands.”

    This is a huge blow to the unchecked administrative state and a key decision in helping reign in untrammeled executive regulatory power.

  • This looks like it will put a crimp in Biden’s amnesty plans: “SCOTUS rules 6-3 that there’s no constitutional guarantee for non-citizen spouses to be admitted to the US.”
  • Supreme Court also rules that it is constitutional to ban drug-addicted transients from camping on city streets.
  • Has Russia’s Black Sea fleet abandoned Sevastopol?
  • Russia’s newest S-500 air defense system has been deployed to Crimea to defend against ATACMS strike. Result? It was destroyed by an ATACMS strike. “This is a big embarrassment for Russia, that its newest and best missile system has had its clock clean by 30-year-old missiles.”
  • Russian Ammo Storage Site with 3,000 Artillery Shells Hit by Drones in Voronezh, Russia.”
  • War crimes arrest warrants issued for top Russian officials. The International Criminal Court (ICC) has issued an arrest warrant for Russia’s former defence minister, Sergei Shoigu, and the chief of general staff, Valery Gerasimov.” It would make one hell of a Dog The Bounty Hunter episode…
  • Evidently it is possible to be too radically antisemitic to be an elected Democratic official, as Squad member Jamaal Bowman of New York “lost his third-term primary bid to Westchester County executive George Latimer.”
  • Andrew Cuomo (D-isgrace) admits that the bogus Trump hush money kangaroo trial should never have been held. “If his name was not Donald Trump and if he wasn’t running for president. I’m the former AG in New York. I’m telling you, that case would have never been brought. And that’s what is offensive to people. And it should be!” Broken clock, twice a day.
  • Judge Judy says prosecutors twisted themselves into a pretzel to indict Trump.
  • Turns out that Biden loan forgiveness scheme is just as unconstitutional as we thought it was.

    Federal judges in Missouri and Kansas issued separate rulings on June 24 blocking key sections of the Biden administration’s Saving on a Valuable Education (SAVE) program, which is designed to lower student loan payments and forgive debts.

    A new version of the program that would reduce payments and shorten maximum repayment periods was set to take effect in July.

    U.S. District Judge Michael Crabtree for the District of Kansas ruled that the Republican states were likely to succeed in their claim that the department lacked explicit congressional authority to enact this portion of the program.

    “Defendants have offered colorable, plausible interpretations of the Higher Education Act that could authorize the SAVE Plan, but those interpretations fall short of clear congressional authorization,” Judge Crabtree, who was appointed under President Barack Obama, wrote on Monday.

    However, he declined to block the program entirely, expressing concerns about the practicality of reversing parts of the plan that had already been implemented. He also said that Republicans’ delay in filing their lawsuits undermined their arguments that there was an immediate need to halt the entire program.

    In a separate decision on the same day, U.S. District Judge Judge John Ross for the Eastern District of Missouri, also a President Obama appointee, blocked the department from forgiving “any further loan[s]” under SAVE until he decides the full case. His order said that such actions would likely strip state loan operators of revenue.

    Judge Ross also suggested that the SAVE program might have exceeded the authority of Education Secretary Miguel Cardona and that Missouri would likely be harmed by the program.

    Just imagine if a Republican judge got a chance to rule on it…

  • Kenya Protesters Storm Parliament, Police Fire Live Rounds, After Lawmakers Unleash Eco-Austerity.” Seems like $2.7 billion in taxes to serve nebulous “green” goals is unpopular in a country where the per capita GDP is $2,099. Thanks, IMF…
  • And an attempted coup in Bolivia evidently failed. President Luis Arce is a bit of a socialist scumbag, so it remains to be seen if he intends to follow in Venezuela’s footsteps to economic ruin.
  • Over a thousand dead in this year’s Hajj. Islam has a lunar calendar, and this year’s Hajj fell during a period of extreme heat.

    Not only are the massive crowds a problem, but this year the Saudi city is under an excessive heat warning, with highs at times having reached between 110 and 115°F during the day, and 100°F even at night. This has resulted in what could be a record amount of heat injuries and deaths by the pilgrimage season’s end. On Monday the Saudi weather service recorded a temperature of 125 degrees Fahrenheit at Mecca’s Grand Mosque.

    Many of the dead were “unauthorized pilgrims” who hadn’t paid their Hajj fee. “This group was more vulnerable to the heat because, without official permits, they could not access air-conditioned spaces provided by Saudi authorities for the 1.8 million authorized pilgrims to cool down after hours of walking and praying outside.”

  • More accused perverts in classrooms. “Former Denton ISD Coach Arrested for Online Solicitation of a Minor. A mother from another school district says she tried to warn Denton ISD of an inappropriate encounter her daughter had with district employee Justin Wallace Carter.”
  • Guy buys four books filled with Chinese military secrets for $1. Good to know we’re not the only nation that suffers from lax security…
  • Missed this for yesterday’s roundup: “Michigan judge charged after gun was found in her purse at Detroit Metro Airport. Wayne County Judge Cylenthia LaToye Miller was cited earlier this month on a charge of possessing a dangerous weapon after she allegedly tried to pass through airport security with a handgun in her purse.” She is, of course, a Democrat.
  • “A Uvalde County grand jury has indicted former school district police Chief Pete Arredondo and another former district officer on charges of child endangerment, the first criminal charges brought against law enforcement for the botched response to the deadliest school shooting in Texas history, the San Antonio Express-News reported. Arredondo and Adrian Gonzales face felony charges of abandoning or endangering a child.” (Hat tip: Dwight.)
  • Insert your own Aggie joke here: “Texas A&M to Co-Manage Nation’s Nuclear Arsenal Facility in Amarillo.”
  • “NFL Ordered to Pay $4.7B After Losing ‘Sunday Ticket’ Trial.” Even for the NFL, that’s a lot of cheddar…
  • McDonald’s learns what the rest of us already knew: There’s no money in fake meat. (Hat tip: Dwight.)
  • Everyone is leaving the big car YouTube channels because corporations bought, added layers of management, ignored what made them successful, and made them unprofitable.
  • A fun edition of What’s My Line featuring America’s most decorated war hero.
  • Kinky Friedman, RIP. He was a Texas original, an entertaining musician, a successful author, and the last interesting Democrat in Texas. Dwight already posted “The Ballad of Charlie Whitman,” so I direct you over there. I have an inscribed (not to me) first of A Case of Lone Star, and I should probably read that next.
  • “Trump Preps For Debate Against Biden By Going to Nursing Home And Arguing With Dementia Patients.”
  • “Trump Indicted For Murdering Elderly Man On CNN.”
  • Hamas Loses House Seat To Democrats.”
  • “White House Asks Migrants To Hold Off On Raping And Murdering Any More Americans Until After Election.”
  • Canada Officially Loses Recognized Country Status After Failing To Win Stanley Cup Again.”
  • I’m always up for skateboarding dogs.

    (Hat tip: Ace of Spades HQ.)

  • Still between jobs, so hit the tip jar if you’re so inclined.





    LinkSwarm For March 29, 2024

    Friday, March 29th, 2024

    Lies trying to hide how bad the Biden Recession sucks continue to unravel, a mini Texas-vs.-California update, Ukraine makes another oil refinery go boom, true depths of human depravity, some Bill Burr and Critical Drinker links, and two tons of Murica. It’s the Friday LinkSwarm!

  • Dallas Fed manufacturing survey: “It’s A Far Deeper Recession Than Publicized.”

    Against expectations of a small improvement from -11.3 to -10.0, the headline sentiment gauge dropped to -14.4 (the lowest end of analysts’ forecasts).

    Furthermore, the production index, a key measure of state manufacturing conditions, fell five points to -4.1, a reading that suggests a slight decline in output month over month.

    Other measures of manufacturing activity also indicated declines this month.

    The new orders index – a key measure of demand – dropped 17 points to -11.8 after briefly turning positive last month.

    The capacity utilization index edged down five points to -5.7, and the shipments index plunged from 0.1 to -15.4.

    The decline in new orders came alongside a surge in prices as raw materials costs rose to 13-month highs…

    That has the stench of stagflation lathered all over it.

  • Also worse than reported: employment numbers. “Philadelphia Fed Admits US Payrolls Overstated By At Least 800,000.”

    We first have to go back to December 2022, when we reported something shocking: as part of its data analysis of the “more comprehensive, accurate job estimates released by the BLS as part of its Quarterly Census of Employment and Wages (QCEW) program”, the Philadelphia Fed found that the BLS had overstated jobs to the tune of 1.1 million! This is what the Philadelphia Fed wrote in its quarterly Early Benchmark Revision of State Payroll Employment report at the time:

    Our estimates incorporate more comprehensive, accurate job estimates released by the BLS as part of its Quarterly Census of Employment and Wages (QCEW) program to augment the sample data from the BLS’s CES that are issued monthly on a timely basis. All percentage change calculations are expressed as annualized rates. Read more about our methodology. Learn more about interpreting our early benchmark estimates.

    So what did this “more accurate”, “more comprehensive” report find? It found that…

    In the aggregate, 10,500 net new jobs were added during the period rather than the 1,121,500 jobs estimated by the sum of the states; the U.S. CES estimated net growth of 1,047,000 jobs for the period.

    Lots of detailed analysis snipped.

    Putting it all together, we now know – as the Philly Fed reported first – that the labor market is far weaker than conventionally believed. In fact, no less than 800,000 payrolls are “missing” when one uses the far more accurate Quarterly Census of Employment and Wages data rather than the BLS’ woefully inaccurate and politically mandated payrolls “data”, and if one looks back the the monthly gains across most of 2023, one gets not 230K jobs added on average every month but rather 130K.

    Of course, none of that paints Bidenomics in a flattering picture, because while one can at least pretend that issuing $1 trillion in debt every 100 days to add 3 million jos per year is somewhat acceptable, learning that that ridiculous amount buys 800,000 jobs less is hardly the endorsement that the White House needs.

  • I think I link a story like this every year: “California Leads Among U.S. States Sending People to Texas in 2022. Florida and New York combined sent fewer people to Texas than California.” Leave any leftwing politics behind when you move…
  • California has a $55 billion deficit. But don’t worry, for the 24-25 fiscal year, it’s a $73 billion deficit.
  • Ukraine hits another Russian oil refinery, this time in Samara.
  • Russian network that ‘paid European politicians’ busted.”

    A Russian-backed “propaganda” network has been broken up for spreading anti-Ukraine stories and paying unnamed European politicians, according to authorities in several countries.

    Investigators claimed it used the popular Voice of Europe website as a vehicle to pay politicians.

    The Czech Republic and Poland said the network aimed to influence European politics.

    Voice of Europe did not respond to the BBC’s request for comment.

    Czech media, citing intelligence sources, reported that politicians from Germany, France, Poland, Belgium, the Netherlands and Hungary were paid by Voice of Europe in order to influence upcoming elections for the European Parliament.

    The German newspaper Der Spiegel said the money was either handed over in cash in covert meetings in Prague or through cryptocurrency exchanges.

    Pro-Russian Ukrainian oligarch Viktor Medvedchuk is alleged by the Czech Republic to be behind the network.

    Mr Medvedchuk was arrested in Ukraine soon after the Russian invasion, but later transferred to Russia with about 50 prisoners of war in exchange for 215 Ukrainians.

    Czech authorities also named Artyom Marchevsky, alleging he managed the day-to-day business of the website. Both men were sanctioned by Czech authorities.

    (Hat tip: Stephen Green at Instapundit.)

  • “Abbott says he needs ‘two more votes’ to pass school choice.” Presumably he’ll get those (and then some) in the May runoff.
  • $100M missing from Bay area trust fund management company. A Bay area father who counted on a local non-profit to handle a trust fund designed for his daughter’s long-term care feels duped.” And this is a trust for special needs kids.
  • Another dispatch from the decline of Charm City.

    The radical leftists in control of Baltimore City Hall have plunged the metro area just north of Washington, DC, into apocalyptic levels. We advise readers to entirely avoid the metro area as violent crime spirals out of control.

    Failed social justice reforms, defunding the police, and widespread mistrust of the police have resulted in a skeleton police force that will no longer be able to protect residents in some regions of the city.

    Fox Baltimore reported last Tuesday that only three police officers were on duty for the Southern Police District, which includes more than 61,000 residents.

  • Joe Lieberman, RIP. One of the least reprehensible Democratic senators of the last 30 years or so. But I still remember this:

  • Don’t click on this link unless you want to plumb the depths of human depravity. Noteworthy: “He and his husband.”
  • Flagstaff school board wants to parents to know they’re going to shove social justice down their children’s throats no matter what.
  • “GOP Delegates Adopt Resolutions Criticizing H-E-B CEO Charles Butt for Anti-School Choice Donations.”
  • Republicans file bill to strip money from woke medical schools.
  • Stellantis, AKA The European Monster That Ate Chrysler, just just laid off a whole bunch of white collar workers. Note their mention of focusing on “implementing our EV product offensive.” Oh yeah, they’re boned.
  • Speaking of EV layoffs, Ford is cutting down the staff of their F-150 Lightning plant to one third of what it was. The Lightning is enjoying a double whammy, in that people don’t want EVs, and Ford’s core customers can no longer afford trucks with an average selling price north of $80,000.
  • Florida Governor Ron DeSantis declares victory over Disney, as the latter has dropped their lawsuit over the the elimination of their special district status.
  • Sean Combs, AKA “Puff Daddy,” AKA “Diddy,” raided by the FBI. “A source close to the investigation told NBC News that the raid was connected to allegations of sex-trafficking and sexual assault and the solicitation and distribution of illegal narcotics and firearms.” “Source close” caveats apply.
  • The federal government is going to allow a shuttered nuclear power plant to be restarted. “The federal government announced that it would provide a $1.5 billion loan to restart a nuclear power plant in southwestern Michigan. NJ-based Holtec International acquired the 800-megawatt Palisades plant in 2022 with plans to dismantle it, but with support from the state of Michigan and the Biden administration, the emphasis has shifted to restarting the nuclear power plant by late 2025 instead.” Not wild about the loan part, but restarting America’s nuclear energy growth is long overdue.
  • Used Japanese homes are worthless Not just because of the shrinking population, but because they’re designed to be.
  • Bill Burr answers questions from the Internet.
  • The Critical Drinker is not impressed with the Road House remake. “The Patrick Swayze original wasn’t exactly peak cinema. It was dumb and over-the-top and silly, and I don’t imagine people were exactly crying out for a remake. But damn, man, it’s like Citizen Kane compared to this version.”
  • School tries to ban American flag from truck. Result: Two tons of Murica.
  • Twitch is cracking down on streams that “focus on intimate body parts.” After watching this, I have one question: Where exactly did the lady featured obtain her “automatic butt jiggler?”
  • Feel-good crime aftermath story:

    (Hat tip: Ace of Spades HQ.)

  • Hit the tip jar if you’re so inclined.





    LinkSwarm for March 24, 2023

    Friday, March 24th, 2023

    More on the collapse of Silicon Valley Bank, Syria gets spicy again, woke companies like Disney are having massive layoffs, and Sig Saur gets into the Killbot business. It’s the Friday LinkSwarm!

  • Things that make you go Hmmmm:

    Courtesy of Bloomberg’s reporting, it appears that not only were insiders dumping their shares faster than syphilitic hooker, there were loading up on loans from the bank at a scale that makes a mockery of any regulatory oversight…

    Yes, that’s real.

    Loans to officers, directors and principal shareholders, and their related interests, more than tripled from the third quarter last year to $219 million in the final three months of 2022 – a record dollar amount of loans going back over 20 years.

    Many questions come to mind – what were the terms, who were the recipients, what was the collateral?

    But, sadly, we will likely never know.

    However, we do note that the banking execs may be facing a serious shortfall (like their bank): if the loans were collateralized by SVB shares for example, those shares are now worthless, leaving the loan-heavy C-suite left to come up with the cash to repay the loans (and no, these loans don’t disappear with the bank’s liquidation).

    Between that and the insider share dumping, people need to go to jail.

  • Speaking of insiders, let’s talk about FTX and Silicon Valley Bank’s ties to the World Economic Forum.

    After the implosion of the FTX crypto exchange run by Sam Bankman Fried, questions of due diligence and competency immediately arose, suggesting that perhaps the company mishandled assets “accidentally” and that Fried was naive and “in over his head.” Numerous central bank officials and globalist organizations jumped into the debate almost immediately, arguing that FTX was a perfect example of why centralized regulation of crypto and digital currencies was necessary. They claimed that without oversight by banking elites, disaster was inevitable.

    Of course, what they did not mention was that FTX and Sam Fried already had extensive connections with globalist groups including the World Economic Forum. In fact, the very basis of Fried’s business model was the WEF’s “Stakeholder Capitalism” theory, which he often referred to as “Effective Altruism.”

    Stakeholder Capitalism is essentially the opposite of free markets – It is a socialist/globalist framework which uses corporations as a kind of economic enforcement tool. Corporations are already highly socialistic in their operations, and their existence is completely dependent on their special relationship with government. Corporations are created through government charter, enjoy special protections under “corporate personhood” laws and avoid direct consequences for criminal activities through limited liability.

    Many corporations are not even allowed to fail because governments backstop their operations. That’s socialism, not free markets. However, “stakeholder capitalism” expands on this dynamic a hundred-fold.

    Where free markets assert that businesses must make profit their primary objective for the overall economy to function, the WEF asserts that companies including banking institutions have a social obligation that goes beyond making money. To the typical leftist this probably sounds like a Utopian vision filled with promise, but to anyone that actually understands economics it sounds like a recipe for the collapse of civilization.

    The WEF paints stakeholder capitalism an effort to reign in the power of the corporate system in favor of social causes. In reality, it’s a way to give corporations ultimate power over everything, including ultimate influence over public behavior.

    We have seen extensive evidence of this through widespread corporate ESG investment programs implemented in the past several years. It is no coincidence that the invasion of woke ideology into the mainstream happened at the exact same time that ESG-based lending accelerated.

    The institutions lending to various companies were able to set social rules for access to credit, and these rules required businesses to adopt far-left politics in their marketing and policies as a result. Stakeholder capitalism is about homogenizing all business into a single ideological entity – Instead of competing with each other for market share through innovation, companies have been abandoning merit based competition and are colluding to saturate the mainstream with social justice cultism, climate change propaganda and globalist rhetoric.

    By making corporate elites “responsible” for society, we give them the power to engineer society.

    However, the WEF’s model of false altruism is turning out to be a disaster for corporate survival. I have to wonder now if this was the intent all along – To create a kind of ESG fueled woke financial bubble that was always intended to come crashing down, leaving the western world in ruins.

    Snip.

    Looking into SVB’s operational history, the company was a woke nightmare.

    Take a gander at their 66 page ESG report compiled in 2021 to get a sense of how far to the extreme political left the bank was. SVB is the pinnacle example of why “Get Woke, Go Broke” is more than a mantra, it’s a rule.

    Digging even deeper we then find that SVB’s leadership was highly involved in the WEF and their Stakeholder Capitalism Metrics (SCM), along with corporate governance. SVB was not only implementing every single policy the WEF outlines in its agenda, they were reporting back to the WEF on their progress.

    SVB’s capital exposure was heavily tied up in securities, but also venture capital for woke tech startups, climate change related projects and leftist activist groups which qualified for ESG loans; everything from BLM to Buzzfeed. In other words, they were investing aggressively into money-pit projects that devoured cash and gave nothing back. The real question is, how many US banks are involved in ESG and WEF operations at the same level as SVB? Dozens? Hundreds?

  • “U.S. Carries Out Airstrikes in Syria after Iranian Drone Kills U.S. Contractor, Wounds Five Service Members.” As I’ve mentioned before the withdrawal of most U.S. troops from Iraq and Syria doesn’t mean all. And the same goes for Africa.
  • Fifth Circuit Court of Appeals blocks Biden’s Flu Manchu mandate.
  • After demanding that the police be defunded, San Francisco District Supervisor Hillary Ronen now demands more cops in her district.

    (Hat tip: Stephen Green at Instapundit.)

  • 56% of liberal white women age 18-29 have been diagnosed with a mental health condition.” Well, you already said “liberal”…
  • Louisiana state Rep. Francis Thompson switched from the Democratic to the Republican Party, given Republicans a super-majority in both houses and thus the ability to override any veto by Democratic Governor John Bel Edwards. ““The push the past several years by Democratic leadership on both the national and state level to support certain issues does not align with those values and principles that are a part of my Christian life,” said Thompson.
  • World Athletics, the governing body for international track and field competition, has banned men from international competition. “I’ll take ‘Headlines no one in the 20th century would understand’ for $600, Alex.”
  • “Dallas Bar Cancels All-ages Drag Event.” Funny how the threat of having your TABC license yanked concentrates the mind…
  • Get Woke, Go Broke Part 1: After a string of expensive bombs and streaming losses, Disney to lay off 7,000 employees.
  • Get Woke, Go Broke 1.5: “Woke Marvel Producer Victoria Alonso Gone From MCU.” She was one of the central figures pushing Disney to adopt a pro-groomer position in Florida. The ostensible reason for her firing was breach of contract for producing a non-Marvel movie, but a lot of industry insiders think her outspoken wokeness was a key reason for her getting the axe.
  • Get Woke, Go Broke Part 2: “Twitch Streaming Service To Sack 36% Of Employees.”
  • Another headline I didn’t expect: “SIG Sauer Acquires General Robotics.”

    SIG Sauer announced late last week it has acquired General Robotics, one of the world’s premier manufacturers of lightweight remote weapon stations and tactical robotics for manned and unmanned platforms as well as anti-drone applications. The companies have been working in concert for some time, a fact made obvious at January’s SHOT Show when they debuted a Polaris ATV equipped with a General Robotics PitBull remote weapons station that aimed and fired the vehicle-mounted SIG MG 338 belt-fed machine gun remotely.

    “This acquisition will greatly enhance SIG Sauer’s growing portfolio of advanced weapon systems,” said Ron Cohen, president and CEO of SIG Sauer. The team at General Robotics is leading the way in the development of intuitive, lightweight remote weapon stations with their battle-proven solution.”

  • Nobody should still be using cardboard sheathing on houses.
  • The Y-shaped Chicago building made more stable by adding a giant water tank at the top.
  • “Alex, I’ll take ‘The Rapist Zach‘ for $400.”
  • “It is a belief in the Cocaine Bear’s authority that allows it to officiate legally binding weddings in Kentucky.”
  • “Family Does Modified Version Of Dave Ramsey Plan Where They Just Never Budget And Spend Way Too Much Money.”
  • “Democrats Vow To Arrest As Many Political Opponents As It Takes To Defeat Fascism.”
  • “Trump To Be Indicted For Removing Mattress Tag In 1997.”
  • No one expects SwordDog!