No Fucking Way - part the seventh

Well... I'd be willing to bet a vente lemonade that the sub-GED crowd living in them there hollers never expected this. The, mostly, only access to some level of healthcare is going poof. Serves them right for continuing to elect rich white guys at all levels of governance.

Funding for rural hospitals would be hit particularly hard. The draft budget would eliminate Rural Hospital Flexibility Grants, State Offices of Rural Health, At-Risk Rural Hospitals Programs Grants and the Rural Residency Development Program.

It's hard enough, even under Woke Politicians, for the sub-GED shitkickers to get any kind of healthcare. With Medicaid on the ropes, may be the sub-GED rural shitkickers will finally, finally figure out that it really, really is just the Woke Politicians who give a shit about their plight. shitler and muskrat^©dugugotw sure don't. What a surprise. As Heinlein observed: "ignorance is curable, stupidity is forever."

President Donald Trump's firings at the Department of Health and Human Services included the entire office that sets federal poverty guidelines, which determine whether tens of millions of Americans are eligible for health programs such as Medicaid, food assistance, child care, and other services, former staff said.

You ain't the Damn Gummint's definition of Poor, you ain't got no Medicaid. Among others. Hell, if shitler and muskrat^©dugugotw get their way, even a Red Blooded American, who pisses off either of them, will end up in El Salvador.

Foot, Meet Bullet

My time with DB2/LUW has been with community edition (free-ish) 11.5 for some time. Fact is, I acquired this M900 (IBM) pc to outfit it with 16 gig of memory, which is the max supported in 11.5. Since I'm going through the agony of upgrading ubuntu (the image has been moved from 8.04 onward, with the original root partition too small to upgrade further; new machine cloned drive, and so on). So it seemed opportune to have another look at DB2. Imagine my surprise to find the max memory support has been cut to 8 gig in today's shipping edition. They, of course, spin this as a favor to users. Yeah, right.

By most accounts/metrics, DB2 is at the back of the RDBMS pack. They invented the damn thing! So they shoot themselves in the foot. PG is ok, but it's a process model database. MySql is not so ok, what with the corporate nonsense.

Let's Bet

So, they've caught the dude that burned up the Pennsylvania Governor's manor. Let's all bet on whether or not he's a MAGAnaut. Seems more likely than not. Second choice is Real Anti-Semite.

You Might Not Know

It appears, for a long time, that John Q. Public has a false notion of how the Damn Gummint interest rate works. First, and most importantly, the USofA doesn't have a Gummint Bank to rule all others. Most countries (1st world and lower) do, the Bank of England is one such. Our Fed doesn't set any interest rate, at all. Imagine that? The closest lever it has is the so-called Overnight or Interbank Lending rate. But this is just a benchmark which the Fed promulgates to commercial entities. "Pretty please." Of course, if an entity thumbs its nose...

Ok, you might ask, where does an interest rate come from? Well... it depends, but most importantly, it isn't like when you get a credit card (20% ish), or a car loan (6.35% for new and 11.62% for used; people buying used are high risk deadbeats I guess), or a house mortgage (6.62% 30 year). All of those rates are given to you by the lender, period.

Selling Uncle Sugar's Treasuries doesn't work that way. First off, once a note is sold "to the public", it remains an asset for sale forever, well until retired. So the value at which a note sells for this minute is not likely to be exactly the same value shown on the face of the note (you're not likely to ever see one printed like an Abe). So what, you might rejoin!!! It sold for 4.5% at auction last week, so it's a 4.5% note. Nope.

The key word there is "auction". Treasury announces the so-called coupon (what Treasury pays the holder every so often) of, say $5 for a (nominal) $100 note. Normal citizens can't directly buy one or two, but if they could they don't really buy a $100 note because the actual price will be determined by the auction process. So the earned interest rate will depend on the coupon / sale value. If they sell at $100, then the earned rate is 5%, just what Treasury expected. But it doesn't have to be.

More to the point, all those active notes are on sale every minute just like Tesla stock, and the current sale price (and thus the earned interest) is what the trading public wishes to pay. More than $100 and the buyer gets less than 5%; conversely, lower and more.

So, once the implications of Mad Dictator Don's insane tariff regime began to sink in with the hedge funds, and retirement funds, and Japan, and billionaires they all went bananas. According to some reporting Japan (and not China, surprise) was sufficiently pissed at the gag that they sold off reams and reams of Treasuries. Pretty much all at once. Treasury prices sank, implied interest rate soared, and the financial Daddy Warbucks sent Mad Dictator Don a message: "cut the shit, asshole". And he did.

Treasury does auctions, under usual circumstances four times a year. Guess when the next auction (again, normally) is up? May. Guess what happens to that $5/$100 note auction if the trading market keeps dropping the price of Treasuries? Uncle Sugar takes it in the nuts. Expecting $X billion but ending up with $(X - Y) billion instead. Not Good Eats. Even Batshit J. Moron could read those big block crayon letters on the wall. He loves him some debt, and he's gonna need gobs of it to pay hisself and fellow millionaires and billionaires that juicy tax cut he promised. Again. Oops.

Thus endeth the Tariff War. May be. He's so unhinged that he could well try it again soon. Stay tuned.

DIE Motherfucker

Mad Dictator Don has no idea that his Tariff Program is really just another DEI effort.

D is for diverisity, which for the tariffs means each tariffed country gets its own special treatment.

E is for equity, which for the tariffs that every country is treated equally, 10%, until Mad Dictator Don decides that it's really ripping us off and he ups the tariff.

I is for inclusion, which for the tariffs means everybody into the pool, including those uninhabited penquin islands, crafty those funny birds.

But...

Just for shits and grins, I picked the big kahuna of the Banana Republics, Ecuador, to see what's in store.

So, they get the 10% whack, so E, kinda. Turns out, Ecuador has a trade deficit (their USofA imports exceed their exports to the USofA), so why are they worthy of tariff? And so it goes.

We really, really need to protect our domestic banana ranches from this ruinous competition. Don't we>? I mean, bidnezz critters always, but always, claim the mantel of 'competition' when it suits their agenda, almost always to defend obscenely high profits or equally obscenely low wages. Or, in the case of Mad Dictator Don stiffing his hired help. But let some alien force provide an equal, or better, good or service and that must not be allowed to stand. We must defend our banana ranches!!

We Have a Drug Problem

Well... I was busy fighting with a bad tempered M900 and ubuntu, waiting to rant about Mad Dictator Don's drug issue. Imagine my luck when the wholly reliable Derek Lowe picks up the cudgel. You must read. It's longer than your usual innterTubes post, but the essence is in the details. One last offering shows he knows a bit about econ.

That's because the dollar was considered the most important reserve currency in the world, and the yields on US Treasuries set the pace for interest rates around the globe.

Long ago, some finance minister or such complained that the USofA's major unfair advantage (and still is, btw) was the right/ability to borrow in our own currency. That might sound like a small detail. It isn't. There was a conflagration amongst the Right Wingnut econ types when Nixon detached the US buck from gold, and, so it was opined, shitcanned Bretton Woods. What a stupid thing to do, they said. Not a bit of it. "Ditching" Bretton Woods was the best advantage the US Buck ever got. That simple act made the US Buck the globe's reserve currency. And we stole it. China's goal is to take that status for themselves. Idiots like Mad Dictator Don doesn't get it. (He claims that his BA in 'real estate econ' from Wahrton makes him a genius! Yeah.) We are "Great" not because we have more nukes than anyone else, or fiddle many elections in the second and third worlds, but because the US Buck is the basis of global trade. Toss that away, and we're, at best, a second world country.

Over the last couple of months, at least prior to the latest spasm, the notable action was that the Big Bucks crowd was moving vast amounts of money to Treasuries.

Thought For The Day - 8 April 2025

In classical econ, wages are assumed to be equal to the marginal revenue product. In the real world, wages are determined by political power. Get rid of unions, OSHA, class action litigation, and other worker protections, and wages go down. Allow unions to wield some counter-vailing power against capital, and wages go up. It's no coincidence that mamufacturing employment has fallen with the kneecapping of unionization. It can be argued that union wage gains are just the extortion by unions of higher wages out of the extortion of high prices by big bidnezz. How much of manufacturing labor can be categorized as highly skilled, and thus worthy of middle class earnings?

Here's one report that belies the Right Wingnut myth.

Despite the prominence of the skills-gap debate, a new paper co-written by a University of Illinois expert in labor economics and workforce policy finds that the demand for higher-level skills in U.S. manufacturing jobs is generally modest.
[my emphasis]

As it happens, my rather motley career path has included drone assembly line work. All of those tasks were learnable in a day or two, sometimes an hour or two. That's the main reason manufacturing capitalists always flee to the most welcoming 3^rd world countries on offer. That and no labor laws.

The poor, misbegotten sub-GED crowd, envious of educated middle-class status are willing to buy Mad Dictator Don's baloney. Sure, American capital would willingly pull their factories over here, over here. Just one thing, though: pay workers what they pay in Vietnam (or wherever), get rid of worker protection laws, and subsidize any losses. What could be better? Kind of like what he did for shitkickers last time he tariffed China, who retaliated by squelching ag imports from the USofA. $28 billion. Who said welfare isn't in the DNA of the GOP?