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ManBoyChef
Aug 1, 2019

Deadbeat Dad



Charliegrs posted:

I hope you're right but I think what you said applies more to the old school republicans. Not these nihilists that have taken over the party now.

This is absolutley true. The party is being taken over by people that listened to Limbaugh in their daddies truck and freaking internalized those messages no matter how freaking horrible they were. These are the stephen millers....Don't make me post his speech trying to become class president in high school.

These true believers are spurned on not knowing that fox news was created to boost the republican party which is just a frontpiece for business. Now you have news media for rightwingers like OAN and RSB or whatever it is that are run by true believers....they literally think the cities they live in are burning down because of antifa.


How do we even combat this? We cannot pierce this bubble.

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Ghost Leviathan
Mar 2, 2017

Exploration is ill-advised.
Maybe start with the people who aren't in the bubble. Maybe there's some you haven't spent the last decade eagerly alienating.

Hieronymous Alloy
Jan 30, 2009


Why! Why!! Why must you refuse to accept that Dr. Hieronymous Alloy's Genetically Enhanced Cream Corn Is Superior to the Leading Brand on the Market!?!




Morbid Hound

Ghost Leviathan posted:

Maybe start with the people who aren't in the bubble. Maybe there's some you haven't spent the last decade eagerly alienating.

Who do you think is alienating who and how these days exactly?

Its Rupert Murdoch pouring out the poison here, not anyone to the left of wolf Blitzer.

Leon Trotsky 2012
Aug 27, 2009

YOU CAN TRUST ME!*


*Israeli Government-affiliated poster
The Daily Beast has reporting about some of the other messages that came up with Tucker during the lawsuit that was reported on last week. They unfortunately don't have any of the specific messages, but one of the problems Fox had with him was that he constantly used the C-word at work and referred to guests on the network (including people beloved by the Trump campaign like Sidney Powell) with the C-word frequently.

quote:

Carlson being nailed in court documents for his repeated use of the overtly misogynist c-word was a key factor in his demise, as Fox News had rid itself of Roger Ailes and Bill O’Reilly after years of sexual-harassment complaints and could not have its biggest star undermining any supposed progress.

quote:

During his deposition with Dominion lawyers, when he was asked if “this wasn’t the only time you referred to Sidney Powell as a oval office,” the Fox News star responded: “You know I-I-I can’t know and I just want to apologize preemptively. I mean you’re trying to embarrass me, you’re definitely succeeding as I am embarrassed.”

Fox was also concerned about him opening them up to lawsuits because he kept pursuing a conspiracy theory that Trump supporter Ray Epps was an FBI agent who instigated the insurrection to frame Trump. Ray Epps was a long-time Trump supporter who received death threats and had to move due to Tucker's show frequently mentioning him and asserting that he was an FBI agent who planned January 6th to frame Trump. Epps is still currently in hiding.

quote:

For millions of consumers of conservative news, Ray Epps is a notorious villain — a provocateur responsible for turning peaceful protests on January 6th into a violent assault on the U.S. Capitol. The irony is that Epps was a passionate supporter of President Trump who went to Washington to protest the 2020 election. But his often contradictory behavior that day spawned a full-fledged conspiracy theory, casting him as a government agent who incited an insurrection. Today, Epps is in hiding, after death threats forced him to sell his home.

They also had the lawsuit from his former producer Abby Grossberg alleging a sexist work environment on the show.

https://www.thedailybeast.com/the-inside-story-of-tucker-carlson-and-don-lemons-monday-media-massacre

Leon Trotsky 2012 fucked around with this message at 14:45 on May 3, 2023

AtomikKrab
Jul 17, 2010

Keep on GOP rolling rolling rolling rolling.

Leon Trotsky 2012 posted:

The Daily Beast has reporting about some of the other messages that came up with Tucker during the lawsuit that was reported on last week. They unfortunately don't have any of the specific messages, but one of the problems Fox had with him was that he constantly used the C-word at work and referred to guests on the network (including people beloved by the Trump campaign like Sidney Powell) with the C-word frequently.



Fox was also concerned about him opening them up to lawsuits because he kept pursuing a conspiracy theory that Trump supporter Ray Epps was an FBI agent who instigated the insurrection to frame Trump. Ray Epps was a long-time Trump supporter who received death threats and had to move due to Tucker's show frequently mentioning him and asserting that he was an FBI agent who planned January 6th to frame Trump. Epps is still currently in hiding.

They also had had the lawsuit from his former producer Abby Grossberg alleging a sexist work environment on the show.

https://www.thedailybeast.com/the-inside-story-of-tucker-carlson-and-don-lemons-monday-media-massacre

I am going to guess a frequent use of misogynist language in his emails is applicable evidence of his behavior towards women in a general sense for a lawsuit.

Main Paineframe
Oct 27, 2010

Leon Trotsky 2012 posted:

It's possible, but Fox upped the amount they were willing to pay to settle by almost $200 million specifically to prevent all the information from becoming public. It would be odd to spend almost $200 million to keep it secret and then leak it two weeks later.

They spent $200 million to keep several dozen pages of texts, emails, and other information secret. That doesn't mean that they necessarily thought that literally all of that information needed to be secret, it just means that there was some information in that batch that needed to be secret.

As for who leaked the message, who benefits? Who has any interest in leaking this specific message?

First off, we have to ask what the impact of the message is. It's not any worse than the kinds of things he said on his show, and it's actually better than the kind of thing most people outside the right-wing ecosystem might expect out of him. I wouldn't be surprised if a few centrist take artists describe it as humanizing and develop empathy with him over their shared ideology of "no matter how much I hate leftists, I probably shouldn't actively crave for their deaths". Because of that, I think that it's basically a positive item for Tucker's image, while still containing enough open white supremacism to make it easy for Fox to justify taking him off TV. On top of that, it stays well clear of any major issues Fox is likely to be sued over. Now, who benefits from that?

I can't see any reason why Dominion or their legal team would want to manage Tucker's image like that, and the court system certainly wouldn't be expected to be leaking like this in general. That just leaves Fox's side of things.

Oxyclean
Sep 23, 2007


Space Cadet Omoly posted:

I can't believe the man who's been openly doing and saying racist things for years is a racist.

I guess I figured it was the difference between being a racist for the grift (still very racist) and full on true-believer white supremist. But I suppose if you stare at the void long enough you start to drink your own koolaid.

Fun to think he is in fact, seething about the woke libs taking away his sexy M&Ms.

BonoMan
Feb 20, 2002

Jade Ear Joe
The biggest thing I'm surprised about is that he actually *believes* all the antifa nonsense. I thought for sure he knew that was all bs garbage and was just putting on an act.

Leon Trotsky 2012
Aug 27, 2009

YOU CAN TRUST ME!*


*Israeli Government-affiliated poster
The White House is asking Congress to include a 30% tax on cryptocurrency mining in the budget negotiations for next year.

The tax would specifically be on the electricity used to mine cryptocurrency and not the trading or possessing of it.

Some cryptomining companies are pushing back because they say the White House is selectivly punishing crypto and not other industries for electricity usage. They also complain that the tax is on energy usage and not carbon emissions, so cryptomining facilities that get some of their energy from renewable sources are penalized the same amount as those whose do not.

The White House argues that cryptomining itself strains the grid and requires higher capacity generators, which produce more emissions and make it harder to green the powergrid because it raises the minimum amount of power required to operate it normally. They also argue that cryptocurrency has externalities that impose financial and environmental costs that other uses of electricity do not and that is why the tax is targeted at cryptomining facilities specifically.

The tax alone would not generate an enormous amount of revenue (roughly $350 million per year), but they say the point is not revenue generation specifically and instead say, “the primary goal of the DAME tax is to start having crypto miners pay their fair share of the costs imposed on local communities and the environment.”

The White House also says "it’s not yet clear what the economic benefits of this activity are" and that cryptomining doesn't create jobs or produce usable materials in the same way as other industries with high electrical usage do.

The crypto industry argues that the U.S. is currently the global leader in cryptomining and that crypto plays a valuable role in helping people make payments across borders without having to convert currency or pay a middleman. They also say that making it more expensive to mine crypto could drive it to other countries and cost the U.S. its position as the #1 cryptomining country.

https://twitter.com/kenklippenstein/status/1653521043531743235

quote:

The White House is trying to persuade Congress to pass a 30% tax on the electricity used in cryptocurrency mining in the next federal budget in order to minimize the nascent industry’s impact on climate change.

“Cryptominers’ high-energy consumption has negative spillovers on the environment, quality of life, and electricity grids where these firms locate across the country,” the president’s Council of Economic Advisers (CEA) argues in a blog post that will appear on the White House website on Tuesday, to which Yahoo News gained advance access. The post will lay out the case for the Digital Asset Mining Energy (DAME) excise tax, which the CEA writes is an “example of the Administration’s efforts to fight climate change and reduce energy prices.”

“Currently, cryptomining firms do not have to pay for the full cost they impose on others, in the form of local environmental pollution, higher energy prices, and the impacts of increased greenhouse gas emissions on the climate,” the CEA writes in its post. “The DAME tax encourages firms to start taking better account of the harms they impose on society.”

Burning fossil fuels to create electricity accounts for 25% of annual U.S. greenhouse gas emissions and releases harmful air pollutants such as nitrogen oxides and particulate matter.

Critics of the proposed tax say the crypto mining industry is being unfairly targeted. “This puts a clear line in the sand that they do not like the industry. They are looking for ways to hamstring it,” Tom Mapes, director of energy policy at the Chamber of Digital Commerce, told Yahoo News. “This is just a way to go after the industry which they do not support.”

In “proof-of-work” cryptocurrency mining — the most energy-intensive approach to mining, and the one used by bitcoin, by far the largest cryptocurrency — massive supercomputers compete to be the first to solve a mathematical puzzle. This process requires massive amounts of electricity. According to a White House report from last September, cryptocurrency mining consumes more power than the entire country of Australia. In the U.S., which is home to roughly one-third of crypto mining operations, it accounts for an estimated 0.9% to 1.7% of all the country’s electricity use.

That energy use is growing rapidly as the crypto industry expands. In the United States, the world’s leader in cryptocurrency mining, 34 large-scale bitcoin mines collectively use as much electricity as nearly 3 million U.S. households, the New York Times reported. Ten of those mines are connected to the energy grid in Texas, and those mines’ demand for electricity has led the state grid operators to charge higher prices for all customers to make sure supply and demand are in balance and to avoid blackouts.

In New York, where one crypto mining company bought and reactivated a decommissioned natural-gas-fired power plant to power its operation, Gov. Kathy Hochul, a Democrat, signed a bill late last year that would put a moratorium on licensing for any more fossil-fuel-powered crypto mining facilities.

State or local regulation might just lead the industry to move elsewhere, the White House says, so it believes that the federal government needs to step in and provide some national regulation that reflects the social cost of crypto mining. The tax would be phased in over three years, starting at 10% next year, then rising to 20% and finally 30%.

“Where we see the strains emerging are in these places that are drawing off the grid, where this starts getting noticed at the level that communities are pushing back and are experiencing consequences of it,” an economist on the CEA who spoke on the condition of anonymity told Yahoo News. “Localities are dealing with it, and they’re struggling to come up with solutions on their own.”

The proposed tax on mining cryptocurrency would generate an estimated $3.5 billion over 10 years. But revenue isn’t the point, according to the CEA, which writes in its forthcoming post that “the primary goal of the DAME tax is to start having crypto miners pay their fair share of the costs imposed on local communities and the environment.”

Economist James Broughel has criticized the proposal, arguing in Forbes that it would make more sense to tax the greenhouse gas emissions from crypto mining, rather than electricity usage. In other words, why penalize crypto mining companies that use clean energy?

The White House counters that any increase in electricity use makes it harder to green the grid because it means that much more clean energy is needed.

Of course, there are other energy-intensive industries, such as manufacturing of chemicals and steel, that are not being targeted with a tax on their electricity use. But the White House argues that crypto mining doesn’t necessarily generate the same benefits, including creating jobs and supplying essential products, as those other sectors of the economy. At the same time, the price volatility of crypto — the value of one bitcoin has fluctuated between $15,000 and $40,000 over the last year — may pose risks to the financial system.

“It’s not yet clear what the economic benefits of this activity are,” the White House economist said of cryptocurrency. “At the same time that the benefits have not been fully documented, there are concerns about risk to financial stability, and certainly the environmental concerns.”

Advocates for the cryptocurrency industry say it does have benefits for its users.

“Millions of people are using this to transact around the world,” Mapes said. “It’s an opportunity for the unbanked or underbanked to bank, and it’s a way to send money across borders without having to pay a middleman.”

Mapes argues that the White House is selectively picking winners and losers among industries.

“It seems like there’s an outsized focus on us,” he said.

Zamujasa
Oct 27, 2010



Bread Liar
Oh, no, please don't move crypto mining operations out of the US. Anything but that. :v:

Oxyclean
Sep 23, 2007


quote:

The White House also says "it’s not yet clear what the economic benefits of this activity are" and that cryptomining doesn't create jobs or produce usable materials in the same way as other industries with high electrical usage do.

The crypto industry argues that the U.S. is currently the global leader in cryptomining and that crypto plays a valuable role in helping people make payments across borders without having to convert currency or pay a middleman. They also say that making it more expensive to mine crypto could drive it to other countries and cost the U.S. its position as the #1 cryptomining country.
Find it funny that doesn't answer -why- it benefits America to be the leader of cryptomining.

Also, I don't really get the argument for how it helps avoid converting currency or using middlemen for paying cross-borders, given you'd probably need to use a middleman to first convert your local into crypto, then another middleman to facilitate that crypto transaction.

haveblue
Aug 15, 2005



Toilet Rascal
Really glad someone with real power is finally asking what crypto actually contributes to society (the answer is nothing)

I'm not sure how this tax would affect the situation mentioned in the article, where they buy an entire power plant to use its output only for crypto. There's no electricity transaction there, can they tax just producing it or buying fuel for that purpose?

Also in government cracking down on tech news, New York City is considering banning business and landlord use of facial recognition. The primary catalyst for this is that the guy who owns Madison Square Garden was using it to be petty and block lawyers representing his litigation opponents from attending events

FlamingLiberal
Jan 18, 2009

Would you like to play a game?



We just need to do what China did and ban crypto outright in the country

It has no value other than speculation and it’s incredibly wasteful in terms of energy costs

the_steve
Nov 9, 2005

We're always hiring!

I'm kinda surprised crypto is even still a thing.
Granted, that's largely based on me thinking that Bitcoin tanked hard a number of months ago, and I've blessedly managed to avoid hearing about a dozen new cryptocurrencies that pop up every other week.

Discendo Vox
Mar 21, 2013

We don't need to have that dialogue because it's obvious, trivial, and has already been had a thousand times.

Oxyclean posted:

Find it funny that doesn't answer -why- it benefits America to be the leader of cryptomining.

Also, I don't really get the argument for how it helps avoid converting currency or using middlemen for paying cross-borders, given you'd probably need to use a middleman to first convert your local into crypto, then another middleman to facilitate that crypto transaction.

iirc what they mean is moneylaundering...and particularly into places with strict currency controls.

cat botherer
Jan 6, 2022

I am interested in most phases of data processing.
https://twitter.com/Forever_noir_/status/1653630995214618625
https://www.nytimes.com/2023/05/02/nyregion/subway-chokehold-death.html

A man had an episode of some kind on the subway, and some bystander put him in a chokehold until he died.

CuddleCryptid
Jan 11, 2013

Things could be going better

the_steve posted:

I'm kinda surprised crypto is even still a thing.
Granted, that's largely based on me thinking that Bitcoin tanked hard a number of months ago, and I've blessedly managed to avoid hearing about a dozen new cryptocurrencies that pop up every other week.

Unfortunately there are several factors that contribute to crypto never going away without outside intervention

1. It's fairly easy to make a new one.

2. History has shown that utterly worthless "coins" can become extremely valuable.

3. Anyone with a computer can mine them, especially if they are one of the new shitcoins.

4. You're able to buy them in as small of fractions as you want, meaning they have the advantage over NFTs where you don't have to drop 11k on a picture of a monkey or nothing.

5. It's all online so no one knows you are cringe unless you tell them.

Kalli
Jun 2, 2001



the_steve posted:

I'm kinda surprised crypto is even still a thing.
Granted, that's largely based on me thinking that Bitcoin tanked hard a number of months ago, and I've blessedly managed to avoid hearing about a dozen new cryptocurrencies that pop up every other week.

It's back up over $28k. It yo-yos and since most people on SA utterly loath it (deservedly), making GBS threads on it gets bullhorned, and then ignored when it's up. NFT's died a comical death and a few Crypto firms went under, but bitcoin itself is still there. Other coins are all pump and dump schemes that nobody's gonna hear about unless you've somehow not blocked all the elon reply guys on twitter.

Charliegrs
Aug 10, 2009

Ghost Leviathan posted:

Maybe start with the people who aren't in the bubble. Maybe there's some you haven't spent the last decade eagerly alienating.

Ah yes all that alienating we are doing by *checks notes* not wanting to lynch trans people.

(USER WAS PUT ON PROBATION FOR THIS POST)

Randalor
Sep 4, 2011



On the one hand, it sounds like it's very easy to grift in the cryptocoin space. On the other hand, I want literally nothing to do with Crypto or the massive amounts of resources it's taking to make pretend money.

cat botherer posted:

https://twitter.com/Forever_noir_/status/1653630995214618625
https://www.nytimes.com/2023/05/02/nyregion/subway-chokehold-death.html

A man had an episode of some kind on the subway, and some bystander put him in a chokehold until he died.

And he wasn't even charged with manslaughter, let alone outright murder.

Gumball Gumption
Jan 7, 2012

cat botherer posted:

https://twitter.com/Forever_noir_/status/1653630995214618625
https://www.nytimes.com/2023/05/02/nyregion/subway-chokehold-death.html

A man had an episode of some kind on the subway, and some bystander put him in a chokehold until he died.

Yeah, I've seen trained professionals put someone in a blood choke and need to be told to release since they didn't realize the other person had passed out and they were not grappling with an unconscious person. Even if you know what you're doing it's hard to know what's happening in the moment.

haveblue
Aug 15, 2005



Toilet Rascal

Kalli posted:

It's back up over $28k. It yo-yos and since most people on SA utterly loath it (deservedly), making GBS threads on it gets bullhorned, and then ignored when it's up. NFT's died a comical death and a few Crypto firms went under, but bitcoin itself is still there. Other coins are all pump and dump schemes that nobody's gonna hear about unless you've somehow not blocked all the elon reply guys on twitter.

Yeah it's never going to fully go away because it's just a piece of software. The goal of this sort of legislation is to kill the massive crypto mining concerns that produce huge amounts of chemical and noise pollution and drive up electricity prices in exchange for nothing other than a few guys get richer

Leon Trotsky 2012
Aug 27, 2009

YOU CAN TRUST ME!*


*Israeli Government-affiliated poster

the_steve posted:

I'm kinda surprised crypto is even still a thing.
Granted, that's largely based on me thinking that Bitcoin tanked hard a number of months ago, and I've blessedly managed to avoid hearing about a dozen new cryptocurrencies that pop up every other week.

About 99% of the major cryptocurrencies (Luna, FTX, Bitconnect, etc.) all turned out to be scams and collapsed. They are down thousands of different cryptos, but Bitcoin has still stuck around. It has never fully recovered from its major crash about 3 years ago (still down more than 50% from its high), but it still goes up and down and has been in the $20k value range for a few years.

Even though thousands of cryptos have collapsed, it costs basically nothing to start a new one and tons of new ones are popping up. Although, the SEC is now starting to crack down a little bit and make it a little harder to start a new one because it now considers them securities.

Zamujasa
Oct 27, 2010



Bread Liar
Starting your own cryptocoin is maybe a few minutes of work at most, there are turn-key solutions out there. Bitcoin is likely not going away.


The only good news is that Etherium, one of the other major buttcoins, switched to proof of stake (which doesn't require the same level of constant pointless number crunching), but that's a small piece of the pie and doesn't really solve any of the other problems (including that Bitcoin is still very much proof of work)

Leon Trotsky 2012
Aug 27, 2009

YOU CAN TRUST ME!*


*Israeli Government-affiliated poster
The fundamental problem with crypto as an industry going forward is that the SEC has started to make it harder to do a pump and dump scam if you are based within the U.S. and after the Silk Road got taken down, crypto isn't secure enough to use for drugs and international crime.

Even Hamas and Russian organized crime have stopped accepting crypto payments recently:

https://twitter.com/JosephPolitano/status/1653785501881577475

I'm not really sure what the future usability or profit angle for crypto is if you can't pump and dump or use it to buy drugs/fund terrorism/launder money/buy child pornography/ransomware/pay bribes in an untraceable manner anymore.

The whole original conceit of using it as a daily currency never took off because of the transaction fees and volatility. So, even the original selling point of the product has been dead since 2013.

Zamujasa
Oct 27, 2010



Bread Liar
Bitcoin has largely been made into an ~asset~ because of its immense value (and immense cost to do anything with) and, yeah, it isn't really anonymous. Curious to see if the things that accept Monero and the like drop it too, though.

I mean, one can dream.

Mellow Seas
Oct 9, 2012
Probation
Can't post for 10 years!

cat botherer posted:

https://twitter.com/Forever_noir_/status/1653630995214618625
https://www.nytimes.com/2023/05/02/nyregion/subway-chokehold-death.html

A man had an episode of some kind on the subway, and some bystander put him in a chokehold until he died.
Holy loving poo poo. Whoever said the guy must have been a tourist is right. Anyone who has spent any amount of time riding the subway knows that a guy having a mental health episode and yelling is incredibly normal and basically never a dangerous situation.

This is the justification he had for loving killing someone and they let him off. Nobody on the entire loving train claims Neely was acting violent in any way.

(As if his lethal overreaction to a normal New York situation wasn’t enough evidence he’s not local, he’s wearing a loving backpack on the subway. WTF.)

Fart Amplifier
Apr 12, 2003

Gumball Gumption posted:

Yeah, I've seen trained professionals put someone in a blood choke and need to be told to release since they didn't realize the other person had passed out and they were not grappling with an unconscious person. Even if you know what you're doing it's hard to know what's happening in the moment.

People's bodies react differently to being choked unconscious. Some people stiffen up and seem as if they're still fighting/resisting. For a healthy individual doing a sport like BJJ, having a blood choke properly applied during a sport scenario isn't dangerous, but when you factor in possible health conditions/drug use/etc it's simply not worth choking someone unconscious unless they're likely to kill someone otherwise.

Choking someone unconscious because they're yelling and screaming should obviously be assault and battery and at the very least, manslaughter if the person dies from it. The guy was clearly a grappler of some sort and there are far safer ways of restraining someone using grappling, especially with multiple people around you willing to help.

OctaMurk
Jun 21, 2013

CuddleCryptid posted:

4. You're able to buy them in as small of fractions as you want, meaning they have the advantage over NFTs where you don't have to drop 11k on a picture of a monkey or nothing.

In an extremely Y-Combinator voice:

How about fractional NFT ownership.

Gyges
Aug 4, 2004

NOW NO ONE
RECOGNIZE HULK

Mellow Seas posted:

Holy loving poo poo. Whoever said the guy must have been a tourist is right. Anyone who has spent any amount of time riding the subway knows that a guy having a mental health episode and yelling is incredibly normal and basically never a dangerous situation.

This is the justification he had for loving killing someone and they let him off. Nobody on the entire loving train claims Neely was acting violent in any way.

(As if his lethal overreaction to a normal New York situation wasn’t enough evidence he’s not local, he’s wearing a loving backpack on the subway. WTF.)

Let's not go pinning this on his being a tourist, Reagan made sure that every corner of this fine nation is familiar with people ranting and raving for no reason in public. Dude's just an amped up psycho who either is so pathetic that he felt threatened by a dude yelling about being hungry, or so racist that he finally found his "go time".

koolkal
Oct 21, 2008

this thread maybe doesnt have room for 2 green xbox one avs

It's a trick I've seen tossed around by others like Matt Levine so it should work but it's one of those things where it's new and weird and someone will probably sue for some reason which could halt sales temporarily.

Leon Trotsky 2012
Aug 27, 2009

YOU CAN TRUST ME!*


*Israeli Government-affiliated poster
The Fed raised interest rates again today. However, they raised it by a smaller amount than previously (0.25%).

The economy still seems to be relatively unaffected by the rate hikes and nobody knows what is really going on. So far, the rate hikes have only really impacted banks and the real estate market.

Private payrolls surged again last month after the expectation was that they would fall:

quote:

Hiring at private companies unexpectedly swelled in April, countering expectations for a cooling job market ahead

quote:

Private payrolls rose by 296,000 for the month, above the downwardly revised 142,000 the previous month and well ahead of the Dow Jones estimate for 133,000. The gain was the highest monthly increase since July 2022.

The surge comes despite Federal Reserve efforts to slow economic growth and in particular to tame a powerful labor market that has added more than 800,000 jobs this year by ADP’s count. An imbalance of demand over supply in the labor market has created strong wage gains that are reflected in persistent inflation pressures.

The two things that rate increases are generally expected to influence - inflation and job growth - are still seemingly unimpacted. Job growth continues at record levels and inflation has fallen, but much more slowly than predicted. Everyone still has no real idea what is going on or what the near future looks like for the economy.

It's a great time to make some wild economic predictions because you could forecast anything from "moderate recession within 3 months" to "soft landing and several years of sub-5% unemployment" and have a decent chance of being correct! Throw in the uncertainty of the debt ceiling and the best answer anyone can give about what is going to happen to the economy is: :shrug:

https://www.cnbc.com/2023/05/03/adp-jobs-report-april-2023.html

https://twitter.com/ABC/status/1653823697650589700

Silly Burrito
Nov 27, 2007

SET A COURSE FOR
THE FLAVOR QUADRANT
You just reminded me to go check the new I bonds interest rates, and they’re at 4.3 for bonds issued between May-October. I’m guessing they’re not reaching anywhere near as high as they have been for the last couple of years.

BonoMan
Feb 20, 2002

Jade Ear Joe
Mississippi's last license plate had "In God We Trust" on it which I thought was obviously not ok.

Well they got sued in 2021 over it and the new license plate released today doesn't have it anymore. Small wins!

(I also like how the Mississippi AG's suggestion to combat it was to put a sticker over it if you didn't like it... something that was clearly against the law).

https://www.mississippifreepress.or...s%5C%27+Lawsuit

Automata 10 Pack
Jun 21, 2007

Ten games published by Automata, on one cassette

Leon Trotsky 2012 posted:

The Fed raised interest rates again today. However, they raised it by a smaller amount than previously (0.25%).

The economy still seems to be relatively unaffected by the rate hikes and nobody knows what is really going on. So far, the rate hikes have only really impacted banks and the real estate market.

Private payrolls surged again last month after the expectation was that they would fall:



The two things that rate increases are generally expected to influence - inflation and job growth - are still seemingly unimpacted. Job growth continues at record levels and inflation has fallen, but much more slowly than predicted. Everyone still has no real idea what is going on or what the near future looks like for the economy.

It's a great time to make some wild economic predictions because you could forecast anything from "moderate recession within 3 months" to "soft landing and several years of sub-5% unemployment" and have a decent chance of being correct! Throw in the uncertainty of the debt ceiling and the best answer anyone can give about what is going to happen to the economy is: :shrug:

https://www.cnbc.com/2023/05/03/adp-jobs-report-april-2023.html

https://twitter.com/ABC/status/1653823697650589700
So, this is a pro-worker market and we get to watch silicon billionaires and their businesses implode?

Rigel
Nov 11, 2016

Leon Trotsky 2012 posted:

The White House is asking Congress to include a 30% tax on cryptocurrency mining in the budget negotiations for next year.

The tax would specifically be on the electricity used to mine cryptocurrency and not the trading or possessing of it.

Some cryptomining companies are pushing back because they say the White House is selectivly punishing crypto and not other industries for electricity usage. They also complain that the tax is on energy usage and not carbon emissions, so cryptomining facilities that get some of their energy from renewable sources are penalized the same amount as those whose do not.

The White House argues that cryptomining itself strains the grid and requires higher capacity generators, which produce more emissions and make it harder to green the powergrid because it raises the minimum amount of power required to operate it normally. They also argue that cryptocurrency has externalities that impose financial and environmental costs that other uses of electricity do not and that is why the tax is targeted at cryptomining facilities specifically.

The tax alone would not generate an enormous amount of revenue (roughly $350 million per year), but they say the point is not revenue generation specifically and instead say, “the primary goal of the DAME tax is to start having crypto miners pay their fair share of the costs imposed on local communities and the environment.”

The White House also says "it’s not yet clear what the economic benefits of this activity are" and that cryptomining doesn't create jobs or produce usable materials in the same way as other industries with high electrical usage do.

The crypto industry argues that the U.S. is currently the global leader in cryptomining and that crypto plays a valuable role in helping people make payments across borders without having to convert currency or pay a middleman. They also say that making it more expensive to mine crypto could drive it to other countries and cost the U.S. its position as the #1 cryptomining country.

https://twitter.com/kenklippenstein/status/1653521043531743235

eeugh, no please. Just call it a newly-created capital asset and then be done with it, they will eventually sell it. Or hell, whatever, just call it ordinary income without regard to what into creating it, and then just tax it immediately.

Crypto is already a headache as it is, and this will just make accounting firms (like I work for) happily charge higher fees to figure out their taxes, and our confused clients will just simply pay it and pass on the cost to their customers.

Leon Trotsky 2012
Aug 27, 2009

YOU CAN TRUST ME!*


*Israeli Government-affiliated poster

Automata 10 Pack posted:

So, this is a pro-worker market and we get to watch silicon billionaires and their businesses implode?

It's a market that is:

- Pro-worker wages and employment , but also record-settingly pro-corporate profits.
- Inflationary and far stickier than anyone predicted, but slowing down.
- One of the best labor markets for low-skilled and low-income workers in the last 30 years, but also one of the worst times in recent history for that group to try and buy a home or car.
- Pro-savings accounts and CDs for the first time in decades, but anti-stock market and equities.

There's also been aggressively rising interest rates for over a year and GDP is still growing.

It's a weird mix of contradictions right now.

Leon Sumbitches
Mar 27, 2010

Dr. Leon Adoso Sumbitches (prounounced soom-'beh-cheh) (born January 21, 1935) is heir to the legendary Adoso family oil fortune.





ManBoyChef posted:

This is absolutley true. The party is being taken over by people that listened to Limbaugh in their daddies truck and freaking internalized those messages no matter how freaking horrible they were. These are the stephen millers....Don't make me post his speech trying to become class president in high school.

These true believers are spurned on not knowing that fox news was created to boost the republican party which is just a frontpiece for business. Now you have news media for rightwingers like OAN and RSB or whatever it is that are run by true believers....they literally think the cities they live in are burning down because of antifa.


How do we even combat this? We cannot pierce this bubble.

No one asked, but I think you're looking at the wrong place if you wanna talk about power.

They don't have it, they have attention, which is worth something but don't confuse it for power.

The real power is located elsewhere, in offshore accounts.

Don't worry about the dip shits, protect your neck, and build the better world we deserve with your pals.

They'll get what they deserve, too: universal health care, affordable housing, and appropriate responses to climate catastrophies that will inevitably befall us all.

Class3KillStorm
Feb 17, 2011



Rigel posted:

eeugh, no please. Just call it a newly-created capital asset and then be done with it, they will eventually sell it. Or hell, whatever, just call it ordinary income without regard to what into creating it, and then just tax it immediately.

Crypto is already a headache as it is, and this will just make accounting firms (like I work for) happily charge higher fees to figure out their taxes, and our confused clients will just simply pay it and pass on the cost to their customers.

How much of such an income tax offsets their increased energy usage and carbon output, though? If the entire point of this extra tax is to (theoretically) monetarily offset the extra burden on the energy production system and the environmental impact of the same, would normal income taxes cover that? Especially since Biden is proposing a flat 30% rate, and normal income tax doesn't go that high unless you're covering about $175k?

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haveblue
Aug 15, 2005



Toilet Rascal

Rigel posted:

eeugh, no please. Just call it a newly-created capital asset and then be done with it, they will eventually sell it. Or hell, whatever, just call it ordinary income without regard to what into creating it, and then just tax it immediately.

Crypto is already a headache as it is, and this will just make accounting firms (like I work for) happily charge higher fees to figure out their taxes, and our confused clients will just simply pay it and pass on the cost to their customers.

You could always... not be into crypto. Then everyone wins including you

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