A thread on politics- have some balls and post

[western royboy]

Why do the Murdock press want the ABC in Australia shut down? It’s been around since I was a kid and had, until recently pressured by government, been fairly unbiased when reporting current events. Enter sky and all of a sudden the hard questions from the ABC are left wing bias!
No, if the media doesn’t influence people’s opinions via their editorial take there is no need to ban or shut down any outlets, unless we just want all the news from fox, newsmax, aol etc. We’d never know anything.

I reckon you’ve answered your own question

 

[Crimso]

I reckon you’ve answered your own question

I intended to.

 

[Viceregal]

Why do the Murdock press want the ABC in Australia shut down? It’s been around since I was a kid and had, until recently pressured by government, been fairly unbiased when reporting current events. Enter sky and all of a sudden the hard questions from the ABC are left wing bias!
No, if the media doesn’t influence people’s opinions via their editorial take there is no need to ban or shut down any outlets, unless we just want all the news from fox, newsmax, aol etc. We’d never know anything.

The concept that the ABC was on the left side of the ledger has been around as far back as I can remember and I have never read an article from them without being aware of that bias and reading accordingly (as I do with each outlet / source once I get to know them better).

The issue is not so much whether your Fox or your CNN or Sky types are biased as they are supposed to stand or fall on their own merits and profitability (or ongoing support from extremely wealthy types) and can cater to the demographics they choose to. When it comes to things like the ABC (our version) and NPR etc where the bill is being footed by the government / taxpayer there is more of an expectation that they should have a more centrist slant or have balancing futher out opinions so if there is a perception that there is an long term institutional bias toward one side then those on the other side naturally would like to see said free/govt sponsored option either reformed or removed.

 

[FootyNorth]

I met a right wing gent (but not a MAGA) when recently in US. He was from Arkansas and had that long slow southern drawl. Over a few drinks (some would say many ) we got talking politics and he was genuinely interested in our system - free education and medical, gun laws etc. We eventually came around to the media bias in US. I asked him how he actually got the truth about issues over there. He said to me, in his long southern drawl,.......
"Well, if its important, I watch it on Fox, then I watch it on CNN. I can usually find the truth somewhere in the middle."
That's what thinking people do. I suspect unfortunately they're in short supply, at both ends of the continuum.

 

[Grasshopper17]

I met a right wing gent (but not a MAGA) when recently in US. He was from Arkansas and had that long slow southern drawl. Over a few drinks (some would say many ) we got talking politics and he was genuinely interested in our system - free education and medical, gun laws etc. We eventually came around to the media bias in US. I asked him how he actually got the truth about issues over there. He said to me, in his long southern drawl,.......
"Well, if its important, I watch it on Fox, then I watch it on CNN. I can usually find the truth somewhere in the middle."
That's what thinking people do. I suspect unfortunately they're in short supply, at both ends of the continuum.

I don't watch any news on TV any more. I have the Guardian and News apps on my phone. They send me notifications when things happen. If they both send me the same thing I know "the thing" probably happened.

Then it's a matter of interest to see how they both spin the same events, and the truth tends to be somewhere in between.

 

[martinson]

I don't watch any news on TV any more. I have the Guardian and News apps on my phone. They send me notifications when things happen. If they both send me the same thing I know "the thing" probably happened.

Then it's a matter of interest to see how they both spin the same events, and the truth tends to be somewhere in between.

The best ones are where the content outlines the exact opposite of what the headline was that led you to reading the first place.

There must be full time people who dream up these headlines waiting for the story.

There is no truth per se any more. Lawyers now run with the cockamaimie defence 'well that was his truth' even if it's completely at odds with self evident facts.

Everything now seems to be exaggerated ,extrapolated or distorted.

 

[luthor]

Trump's Universal Tariffs insanity has crashed the NYSE.

Dow futures currently down over 800 points(was over 1,000 earlier his morning), S&P 500 down 162 (2.84%) and NASDAQ down 676 (3.42%)

Economic analysts predicting recession in the US as well as major disruption to World Trade

Meanwhile back at the ranch, the ASX has fallen substantially for the second day in a row and Clive Palmer's idiotic Trump-(pets) of "Patriots" continues it's saturation ad campaign.

PATHETIC

 

[Crimso]

Trump's Universal Tariffs insanity has crashed the NYSE.

Dow futures currently down over 800 points(was over 1,000 earlier his morning), S&P 500 down 162 (2.84%) and NASDAQ down 676 (3.42%)

Economic analysts predicting recession in the US as well as major disruption to World Trade

Meanwhile back at the ranch, the ASX has fallen substantially for the second day in a row and Clive Palmer's idiotic Trump-(pets) of "Patriots" continues it's saturation ad campaign.

PATHETIC

Don’t the super rich get even super richer from recessions?

 

[notliondown]

Don’t the super rich get even super richer from recessions?

There's a theory I keep seeing repeated over and over, by people far smarter than me, since Trump started his on again off again tariff campaign...

Simply put -

Announce tariff - crash stockmarket - billionaires buy up.
Remove tariff - stockmarket corrects - billionaires sell.
Announce tariff - crash stockmarket - billionaires buy up.
Remove tariff - stockmarket corrects - billionaires sell.
Rinse repeat.

The trouble with that theory is is that it gives him credit for being smart enough to know what he's doing.

 

[martinson]

Don’t the super rich get even super richer from recessions?

Crashed the Dow ? Have these people ever seen a crash ?

As to your point Crimso Trump has surrounded himself with some of the wealthiest people in the US whose wealth is intricately linked to the stock market.

So unless they have a death wish it's fairly evident that whatever they're doing rightly or wrongly is going to be positive for stocks over time.

There's a theory I keep seeing repeated over and over since Trump started his on again off again tariff campaign...

Simply put -

Announce tariff - crash stockmarket - billionaires buy up.
Remove tariff - stockmarket corrects - billionaires sell.
Announce tariff - crash stockmarket - billionaires buy up.
Remove tariff - stockmarket corrects - billionaires sell.
Rinse repeat.

The trouble with that theory is is that it gives him credit for being smart enough to know what he's doing.

It's not like that at all.

If you look at their holdings they're not buying or selling at all. In fact they rarely do. They're set eons go . You don't need to trade stocks if you're a billionaire.

It's debatable whether what he's doing is crazy or not but in their mind what they're doing is right.

And the one thing everyone lacks in markets , but these guys have oodles of , is patience.

The one thing I have noticed is they've all stayed on message despite the pile on.

Interested to see how this plays out. Fwiiw I think the tariffs are a bit of a non event ,lets see where it all sits in 6 months time.

 

[martinson]

The most blatant instance of insider trading I've ever seen was Nancy Pelosi.

But she got away with it. She's one of them but made her career out of pretending to be not one of them. Biden's in the same boat was a bit more cunning about how he went about it. Well.. until his son did something that couldn't withstand scrutiny.

 

[BangyBangy]

Ok, random question. Have been busy all day so haven't had a chance to catch up on a lot of this. Just quickly saw a headline about a 54% tariff on all Chinese imports into the US. Does that include products like Nike or Apple or Anko that are made in China sweatshops but owned by US corporations?

 

[martinson]

Ok, random question. Have been busy all day so haven't had a chance to catch up on a lot of this. Just quickly saw a headline about a 54% tariff on all Chinese imports into the US. Does that include products like Nike or Apple or Anko that are made in China sweatshops but owned by US corporations?

Honestly Bangy I can't figure out what's going or even why. Plus the press reports conflict.

China would account for less than 20% of imports into the US I would think.

As far as I can tell the tariffs vary according to the commodity or product.

Trump wanted to do this in 2016 and just wasn't prepared for Presidency.

They've had a long time to figure all this out and now they're just throwing crap out there and seeing where it all lands is my guess.

The truth is that all these countries have relied on the US for security and economic growth via wealth in the stock market and the avaricious nature of the US consumer for many decades.

This is a shock and he's resetting expectations.

It's very ballsy , no one has any option but to go along with it unless they want to cut off their nose to spite their face.

Give it a few weeks to see how serious he is and what anyone else does in response.

 

[dlanod]

Ok, random question. Have been busy all day so haven't had a chance to catch up on a lot of this. Just quickly saw a headline about a 54% tariff on all Chinese imports into the US. Does that include products like Nike or Apple or Anko that are made in China sweatshops but owned by US corporations?

Yes they do. Tariffs are applied to incoming goods regardless of manufacturer.

 

[western royboy]

Honestly Bangy I can't figure out what's going or even why. Plus the press reports conflict.

China would account for less than 20% of imports into the US I would think.

As far as I can tell the tariffs vary according to the commodity or product.

Trump wanted to do this in 2016 and just wasn't prepared for Presidency.

They've had a long time to figure all this out and now they're just throwing crap out there and seeing where it all lands is my guess.

The truth is that all these countries have relied on the US for security and economic growth via wealth in the stock market and the avaricious nature of the US consumer for many decades.

This is a shock and he's resetting expectations.

It's very ballsy , no one has any option but to go along with it unless they want to cut off their nose to spite their face.

Give it a few weeks to see how serious he is and what anyone else does in response.

He’s placed tariffs on uninhabited islands - a bit like his intellect which I feel you overrate

 

[martinson]

He’s placed tariffs on uninhabited islands - a bit like his intellect which I feel you overrate

Maybe. It seems like a collective decision to me.

Let's face it ,the whole world is against tariffs . But it's happening.

He's taken the risk that anything that befalls any country the world over either economically or geopolitically is going to now be blamed on him. Well it was probably going to be blamed on him anyway.

Whether this is a misstep , a massive mistake ,nothing much happens ,or heaven forbid improves the US we shall see.

 

[western royboy]

Maybe. It seems like a collective decision to me.

Let's face it ,the whole world is against tariffs . But it's happening.

He's taken the risk that anything that befalls any country the world over either economically or geopolitically is going to now be blamed on him. Well it was probably going to be blamed on him anyway.

Whether this is a misstep , a massive mistake ,nothing much happens ,or heaven forbid improves the US we shall see.

To be honest I think the Tariffs is the least of his missteps and it’s a long way from what you forecast as in “same as she goes”. Looks to me as he’s on a mission to become a dictator and just burning anything in his wake. I seriously hope I am wrong but on the initial evidence it is not promising.

 

[martinson]

To be honest I think the Tariffs is the least of his missteps and it’s a long way from what you forecast as in “same as she goes”. Looks to me as he’s on a mission to become a dictator and just burning anything in his wake. I seriously hope I am wrong but on the initial evidence it is not promising.

Well I can understand why someone might see it that way.

The thing I see is the guys around him are experienced and smart. Excluding Musk whom who knows how long that will last.

If he's on a mission to become a dictator they won't let it happen. The congress numbers are too tight . Bessent and others are definitively American capitalists with the American dream as part of their DNA.

 

[martinson]

To be honest I think the Tariffs is the least of his missteps and it’s a long way from what you forecast as in “same as she goes”. Looks to me as he’s on a mission to become a dictator and just burning anything in his wake. I seriously hope I am wrong but on the initial evidence it is not promising.

The other issue is Trump's only there because they thought it was their only hope of winning the Presidency. In hindsight that might not have been totally correct but there are more substantial figures than Trump in the Party and if he totally ***** up they'll get rid of him one way or the other. Then you have the midterms which come up quicker than people think.

If he's so awful that won't bode well for him and could be the end of him as far as the Party's concerned if nothing's working. I'd say the picture will be clearer inn a few month's time. One of the problems at the moment is that there's no credible opposition. The Dems are full of hasbeens who've been sucking on the teet for too long and are in disarray. You'd think Trump getting elected might have sparked at least someone credible to put out a coherent message.

 

[iBeng]

What I dont understand though is his promise that these tariffs will bring in money that will lead to massive tax cuts and removals...But when countries back their tariffs off so does Trump...So how does this work out in the long run?

 

[p4p1]

The most blatant instance of insider trading I've ever seen was Nancy Pelosi.

But she got away with it. She's one of them but made her career out of pretending to be not one of them. Biden's in the same boat was a bit more cunning about how he went about it. Well.. until his son did something that couldn't withstand scrutiny.

They all do it. They will always do it.

 

[p4p1]

Well I can understand why someone might see it that way.

The thing I see is the guys around him are experienced and smart. Excluding Musk whom who knows how long that will last.

If he's on a mission to become a dictator they won't let it happen. The congress numbers are too tight . Bessent and others are definitively American capitalists with the American dream as part of their DNA.

Who around him is experienced and smart? I’m not sure I have seen much evidence of that yet.

It doesn’t matter what congress or the courts want/decide, he is ruling by executive orders. People have already been illegally deported, the DOJ has admitted to the **** up but won’t do anything about it.

 

[western royboy]

The other issue is Trump's only there because they thought it was their only hope of winning the Presidency. In hindsight that might not have been totally correct but there are more substantial figures than Trump in the Party and if he totally ***** up they'll get rid of him one way or the other. Then you have the midterms which come up quicker than people think.

If he's so awful that won't bode well for him and could be the end of him as far as the Party's concerned if nothing's working. I'd say the picture will be clearer inn a few month's time. One of the problems at the moment is that there's no credible opposition. The Dems are full of hasbeens who've been sucking on the teet for too long and are in disarray. You'd think Trump getting elected might have sparked at least someone credible to put out a coherent message.

It appears to me that the cult of MAGA is bigger than the Republicans and without the Orange Man they are no different to the “hasbeens” on the other side. Trump knows this only too well, hence he is already exploring his options. It’s a very dangerous cocktail.

 

[Grasshopper17]

Crashed the Dow ? Have these people ever seen a crash ?

As to your point Crimso Trump has surrounded himself with some of the wealthiest people in the US whose wealth is intricately linked to the stock market.

So unless they have a death wish it's fairly evident that whatever they're doing rightly or wrongly is going to be positive for stocks over time.

Unless they've shorted the market

 

[Whatamark]

They all do it. They will always do it.

ahh but the difference is the side that does it and at the same time attempts to improve things for the common man or the side that doesn't give a **** and actually attempts to screw over the majority to maximise their (and/or their donors) own benefit.

A crucial distinction.