The unimportant news thread

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k a rl h e nn i ng

Quote from: SimonNZ on January 19, 2023, 01:03:42 AMTexas Republican Wants Food Made Of Aborted Fetuses Labeled

"AUSTIN, Texas — A Texas Republican wants to make foods containing material from aborted human fetuses "clearly and conspicuously labeled" — even though such products do not exist. 

The proposed law, authored by state Sen. Bob Hall, says food and medicine would have to be labeled if it contained or was manufactured with human fetal tissue or if it was the product of research that used such tissue. The bill defines human fetal tissue as "tissue, cells, or organs obtained from an aborted unborn child."

"Unfortunately, many Texans are unknowingly consuming products that either contain human fetal parts or were developed using human fetal parts," read a statement from Hall's office. "While some may not be bothered by this, there are many Texans with religious or moral beliefs that would oppose consumption or use of these products." [...]

[...]Food containing human fetal tissue — which, again, does not exist — could meet the definition of cannibalism, which no federal law criminalizes and most states do not regulate."
Pinheads on Parade.

Separately: The big problem with plant-based meat: The 'meat' part
Karl Henning, Ph.D.
Composer & Clarinetist
Boston MA
http://www.karlhenning.com/
[Matisse] was interested neither in fending off opposition,
nor in competing for the favor of wayward friends.
His only competition was with himself. — Françoise Gilot

Spotted Horses

I keep reading that the U.S. has it its debt ceiling and that "extraordinary measures" are being taken to avoid default, but no information about what these extraordinary measures are, and whether they are any different than the measures taken every other time Congress plays chicken over the debt ceiling. Am I going to see Mt Rushmore on eBay?
There are simply two kinds of music, good music and the other kind. - Duke Ellington

k a rl h e nn i ng

Quote from: Spotted Horses on January 19, 2023, 11:21:13 AMI keep reading that the U.S. has it its debt ceiling and that "extraordinary measures" are being taken to avoid default, but no information about what these extraordinary measures are, and whether they are any different than the measures taken every other time Congress plays chicken over the debt ceiling. Am I going to see Mt Rushmore on eBay?

Senate Minority Leader Mitch McConnell (R-Ky.) said on Thursday that it is important to remember that the country "must never default on its debt."

And just how much sway does McConnell have with the Chaos Monkey Caucus?
Karl Henning, Ph.D.
Composer & Clarinetist
Boston MA
http://www.karlhenning.com/
[Matisse] was interested neither in fending off opposition,
nor in competing for the favor of wayward friends.
His only competition was with himself. — Françoise Gilot

Spotted Horses

Quote from: k a rl h e nn i ng on January 19, 2023, 12:29:10 PMSenate Minority Leader Mitch McConnell (R-Ky.) said on Thursday that it is important to remember that the country "must never default on its debt."

And just how much sway does McConnell have with the Chaos Monkey Caucus?

McConnell specializes in a more dignified style of chaos.
There are simply two kinds of music, good music and the other kind. - Duke Ellington

Todd

Quote from: Spotted Horses on January 19, 2023, 11:21:13 AMAm I going to see Mt Rushmore on eBay?

That's only a National Monument, so it would not bring in enough.  The Grand Canyon should be sold.

It is telling that the debt ceiling has been in place for over a century and has not been removed.  That indicates that it has some political utility. 

Anyway, June is when fireworks could start. 
The universe is change; life is opinion. - Marcus Aurelius, Meditations

People would rather believe than know - E.O. Wilson

Propaganda death ensemble - Tom Araya

JBS

Quote from: Spotted Horses on January 19, 2023, 11:21:13 AMI keep reading that the U.S. has it its debt ceiling and that "extraordinary measures" are being taken to avoid default, but no information about what these extraordinary measures are, and whether they are any different than the measures taken every other time Congress plays chicken over the debt ceiling. Am I going to see Mt Rushmore on eBay?

They're more like "These 10 Wierd Accounting Tricks Will Astonish You!", but I don't remember what they are. Perhaps Todd or Drogulus can elaborate.

Some of the People Who Think They Should Be Taken Seriously On Stuff They Know Little Or Nothing About advocate coining a single $1 Trillion coin (from platinum, IIRC).  This would do...something or other. It probably belongs in the Weird Accounting Tricks folder.

Hollywood Beach Broadwalk

drogulus

    The federal gov't creates money by spending and taxes it back to control the value. If there are excess savings (reserves) some is swapped for interest bearing dollars, otherwise interest rates will drop to zero. Cool, there's nothing else to be done. Fiscal policy sets any limit that needs to be set. That will be full employment/output, give or take.

    A country will default on debt in a currency it doesn't create. That's a real debt crisis.

    A country that can create a huge pool of savings in its own currency is what we call "rich". It has a fully functioning national debt which grows as the economy does, though unevenly.

    You can ask a standard issue libraservative economist if they would cancel the debt with a button push and many of them will actually say yes. But you can ask them again if they would push the button to extinguish all the US Treasury savings. Speak up, I can't hear you. It's an "absence of thought" experiment.
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SimonNZ

Quote from: Todd on January 19, 2023, 12:56:50 PMIt is telling that the debt ceiling has been in place for over a century and has not been removed.  That indicates that it has some political utility. 


That doesn't follow at all.

And it's still just regular "brinksmanship" is it? With these chaos monkeys?

drogulus

#4908
Quote from: SimonNZ on January 19, 2023, 07:24:44 PMThat doesn't follow at all.

And it's still just regular "brinksmanship" is it? With these chaos monkeys?

    It's almost that, but I think there's a beliefy element underneath. The US has been off the gold standard for decades, and now operates on a modern view of money as state credit/debt. The old view was money was stuff, and something you can run out of. On this view it makes sense to say "where will the money come from?"

    The modern view makes the question meaningless. The US can spend money and tax it back, but "having" or "not having" isn't in there. Something like a trust fund is an accounting gimmick, not something that can "run out".

    The failure comes from changing the money concept at the level of operations while the political class doesn't change beliefs to match. The technical people at the Treasury, Fed and parties they deal with know exactly how this works. Above them they don't. They blabber about dollars running out like it was 1899.

    A paper was published in 1998 that investigated the view I outline as an effort to disprove the thesis. The conclusion reached is, well.....

     Can Taxes and Bonds Finance Government Spending?

Thus, while bank money (Ml) is destroyed when demand deposits are used to pay taxes,
the government's money, HPM, is destroyed as the funds are placed into the Treasury's account
at the Fed. Viewed this way, it can be convincingly argued that the money collected from taxation
and bond sales cannot possibly finance the government's spending. This is because in order to
'get its hands on' the proceeds from taxation and bond sales, the government must destroy the
money it has collected. Clearly, government spending cannot be financed by money that is
destroyed when received in payment to the State!


     "Tax and spend" is impossible. You can't spend what taxation has destroyed. All spending dollars are new and have nothing to do with the process of tax redemption.

     I encourage the strong in spirit to read the whole paper and especially the details of reserve effects in the banking system.
     
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drogulus


    Biden is a hoarder. Is it time to invoke the 25th amendment? I don't think "Oh, that's just Joe" covers this kind of thing. The amendment does.

   

     On a lighter note, Supreme Piece of Shit Kavanaugh is having a bad moment.
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drogulus

    Since people have no effective means of worrying about sovereign debt in the language of economics (to say nothing about english), it's a welcome alternative to worry about ceilings. I would say that's the point except there isn't one. Aha, that's the point!
   
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k a rl h e nn i ng

Karl Henning, Ph.D.
Composer & Clarinetist
Boston MA
http://www.karlhenning.com/
[Matisse] was interested neither in fending off opposition,
nor in competing for the favor of wayward friends.
His only competition was with himself. — Françoise Gilot

Todd

The universe is change; life is opinion. - Marcus Aurelius, Meditations

People would rather believe than know - E.O. Wilson

Propaganda death ensemble - Tom Araya

Dry Brett Kavanaugh


Todd

Mixed messages:

Health Canada recommends limiting alcohol to just 2 drinks per week

Canada Moves to Decriminalize Possession of 'Hard' Drugs

Decriminalization is in BC.  Oregon decriminalized all illicit drugs a couple years ago.  Everything is peachy.
The universe is change; life is opinion. - Marcus Aurelius, Meditations

People would rather believe than know - E.O. Wilson

Propaganda death ensemble - Tom Araya

SimonNZ

Quote from: Todd on January 25, 2023, 05:32:48 AMMixed messages:

Health Canada recommends limiting alcohol to just 2 drinks per week

Canada Moves to Decriminalize Possession of 'Hard' Drugs

Decriminalization is in BC.  Oregon decriminalized all illicit drugs a couple years ago.  Everything is peachy.

See, your posting history is such that I have no idea if you believe that everything is in fact peachy or that everything is not at all peachy.

Spotted Horses

Quote from: Todd on January 25, 2023, 05:32:48 AMMixed messages:

Health Canada recommends limiting alcohol to just 2 drinks per week

Canada Moves to Decriminalize Possession of 'Hard' Drugs

Decriminalization is in BC.  Oregon decriminalized all illicit drugs a couple years ago.  Everything is peachy.

The key to resolving the cognitive difference is to realize the "recommend" and "require" are not the same thing.
There are simply two kinds of music, good music and the other kind. - Duke Ellington

Todd

Quote from: Spotted Horses on January 26, 2023, 08:07:19 AMThe key to resolving the cognitive difference is to realize the "recommend" and "require" are not the same thing.

Yes, I know what words mean.
The universe is change; life is opinion. - Marcus Aurelius, Meditations

People would rather believe than know - E.O. Wilson

Propaganda death ensemble - Tom Araya

Spotted Horses

Quote from: Todd on January 26, 2023, 08:30:06 AMYes, I know what words mean.

You seem to think you are the only one.
There are simply two kinds of music, good music and the other kind. - Duke Ellington

Todd

Quote from: Spotted Horses on January 26, 2023, 08:34:33 AMYou seem to think you are the only one.

No, not at all.  I just find it quite delightful that a contemporary government embraces neo-prohibition sensibilities tied to outright nanny state "thinking" as it pertains to alcohol, while simultaneously loosening restrictions on all other controlled substances.  BC officials needn't look too far south to see how not to do it.  I'll leave it to you to look up empirical data regarding outcomes in Oregon if you so choose.  And yes, I am aware of the fatalities and health related issues tied to alcohol consumption relative to controlled substances, etc, etc. 
The universe is change; life is opinion. - Marcus Aurelius, Meditations

People would rather believe than know - E.O. Wilson

Propaganda death ensemble - Tom Araya