@calvinfroedge Judaism literally is Christian heritage. Christ is the fulfillment of Gods covenant.
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Frank Jaminsky
4.5K posts
"Judeo-Christian" is literally an oxymoron
Disclose.tv@disclosetv
NOW - White House's Leavitt: "Our nation was a nation founded, 250 years ago almost, on Judeo-Christian values."
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Makes zero difference: Israel has been a killing machine anyway.
Putting it as discriminatory law has zero effect except making more people disgusted with their Zionist project.
Financial Times@FT
Israel’s parliament has passed a controversial bill that seeks to impose the death penalty on Palestinians convicted of killing Israelis in acts of terror, but not on Jewish Israelis who kill Palestinians in similar circumstances. ft.trib.al/iabissb
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@mashabani @shehzadhqazi Looks like good cop bad cop to me.
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It's quite evident that Israel's objective has always been state collapse in Iran whereas the US wants to work with an intact but more pliant state.
As neither appears to materialize, Israel can be expected to push Trump towards embracing "financial collapse" model.
Faytuks Network@FaytuksNetwork
NEW: Israel told the Trump administration there is a “window of opportunity” to achieve a decisive outcome that could topple Iran’s regime, an Israeli official said, adding plans focus on striking energy infrastructure to push Iran toward financial collapse. — N12
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@NewStatesman Is there a radical element in Islam that deserves to be called out for what it is?
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The anti-Muslim sentiment sweeping across the UK and Europe is "basically racism" says Rory Stewart
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@Cutvin @tonyannett @besttrousers Well technically it has everything to do with the GFC. The policies had a direct impact on how the financial sector engineered the plumbing to drive cap into the market. The "safe" side of the mkt doesn't get funded without an increasingly risky plumbing matrix in the background
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@FrankJaminsky @tonyannett @besttrousers Which ignores what actually, you know, happened.
Because the GFC was not in that part of the market. You are pointing at the safer end of the market, and claiming it as the cause, when the problem had nothing to do with that part.
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Financial deregulation was 100% the cause of the global financial crisis. How can this still be debated?
𝔐𝔽𝓩@mean_field_zane
That was not the cause of the 2008 financial crisis.
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@TotemMacro @DeItaone I understand what you mean, but inflation is more so a reflection of political leaders managing the fiscal budget, not only the monetary body providing cheap financing.
Congress could create a budget surplus before market close if they wanted to...
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@FrankJaminsky @DeItaone Who monetises the fiscal deficit, thereby enabling it?
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POWELL: OVERALL THE RESEARCH TENDS TO FIND THAT BUYING LONG-TERM ASSETS LOWERS RATES AND SUPPORTS THE ECONOMY
POWELL: I'D BE IN THE CAMP THAT THERE IS SOMETHING TO THAT
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@TotemMacro @DeItaone Fiscal has a much greater degree of impact.
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@DeItaone Oh right i see so it lowers rates and supports the economy but is 100% not at all inflationary. Because supply is apparently unlimited even when operating 4ppts above potential, so they can inflate demand with no price effect? Is this his chain of logic?
x.com/zerohedge/stat…
zerohedge@zerohedge
*POWELL: NO SIGN PAST FED BOND BUYING WAS INFLATIONARY oh
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@Cutvin @tonyannett @besttrousers GSE Act, CRA and fair lending enforcement, HUD policies aiding first time buyers, HOEPA. All incentivized lenders to decrease standards and expand mortgage issuance.
This doesn't mean zero blame goes to financial markets but politicians wanted it.
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@FrankJaminsky @tonyannett @besttrousers You're still blame shifting. The market does what the market wants to do. Government doesn't stop it. A flood results. You blame government.
Government's sin was omission, not commission. Market's sin was commission.
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@dccommonsense @JonahDispatch Congress is perfectly capable but they do not have the votes to block. Seems like everything is functioning
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One of the most fascinating aspects of what the presidency is now...able to take us to war on the whims of a single person…is that almost no one defends the overall idea. Everyone seems to understand it's a bad long term change to the system. Yet here we are.
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@rachelsklar @TheStalwart And you wonder why Canada is a basket case.
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@TheStalwart The correct move. This was so avoidable and such an abject display of unfitness to lead Air Canada. EVERYTHING IS IN ENGLISH AND FRENCH! It's not a superficial technicality it is bedrock national culture, and bedrock AC corporate culture.
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The CEO of Air Canada is retiring early after a controversy erupted over his only making a condolences video in English. bloomberg.com/news/articles/…
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@Cutvin @tonyannett @besttrousers This isn't wrong per se. In fact, one could say that the government policy was wildly successful! But how that policy translates into a private, capitalist economy is like a "flash flood" rather than complicated industrial plumbing.
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@FrankJaminsky @tonyannett @besttrousers Which doesn't change that banks did this themselves. The part of the market which was incentivized by government is not what banks did which caused the crisis.
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@Cutvin @besttrousers @tonyannett Yes this is true. But again, these are largely investors and speculators (my first point re: herding) who piled into the market chasing the asset. And again, the politicians wanted to improve housing affordability and home ownership.
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@FrankJaminsky @besttrousers @tonyannett Sure. But that is still a trivial part of the value of mortgages that defaulted. They were both a small minority of the mortgages by number, and a far smaller minority by value. By value of default, it was pretty much all non sub prime borrowers.
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@Cutvin @tonyannett @besttrousers Which brings me back to the 90s political goal to increase homeownership by improving affordability. This does not happen without 1. financial institutions taking excessive risks to extend to subprime b/c that's what politicians wanted, and 2. access to the capital markets.
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@JavierBlas @opinion So Iran just hit a desalination plant in Kuwait. So war crime?
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Trump just threatened Iran with ("possibly") blowing up its water desalination plants.
Problems: 1) it would be a war crime, 2) Iran would retaliate against its neighbours, which rely on them far more.
I wrote for @Opinion earlier about water and war. bloomberg.com/opinion/articl…
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@Cutvin @tonyannett @besttrousers Allowing for banks to tap capital markets to manage liquidity is a net positive in my estimation. US banks are actually just now becoming more intelligent with this lever, while Europeans have been doing it for decades.
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@tonyannett @besttrousers @FrankJaminsky The problem with that is that the market had created so many work-arounds for Glass Steagal by the 2000s that in practice it really wasn't doing anything any longer.
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@Cutvin @besttrousers @tonyannett Yes but politicians wanted to expand homeownership throughout the 90s. Which means encouraging lenders to lend more to folks who otherwise wouldn’t meet standards. Financial markets need capital to meet these goals so they increasingly had to package these up and sell to cap mkts
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@FrankJaminsky @besttrousers @tonyannett No, the story was about supposedly safe assets that no one knew how they worked, whether or not they were actually safe, and what their real present value was. And that's all on the market, not the government.
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@besttrousers @Cutvin @tonyannett But you cannot ignore that the political incentive is to make homes affordable. Politicians wanted the financial markets to 1. Expand access for homeowners, by 2. Encouraging lenders to increase mortgage lending.
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@Cutvin @FrankJaminsky @tonyannett Right - something like "both insufficient new regulations and deregulations were caused by the underlying political environment" makes sense.
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@besttrousers @tonyannett Also the Fed allowing for financial institutions to park collateral in a liquidity window at par during a crisis (like covid) is probably on net a positive for the markets
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@besttrousers @tonyannett I do think it’s probably beneficial to move some risk into private markets and away from depositories. But depositories will always be the conduit for liquidity to enter the market, even for the private funds…
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