Bob

Just trying to bark at the Bullshit online!!

[Bob @Truthsnoopy]

@yishan Amazing how knowing about what your are doing can help you to do it correctly!

[Bob @Truthsnoopy]

Below is an amazing post from another X user. It shows that Trump is NOT a Republican, or Democrat, and that his underlying ideas may be near a Socialist because the idea expressed that he likes, is directly from Bernie Sanders!

We have already seen the government take positions of ownership with companies.

This is contrary to most of the ideas that the U.S. has stood for in the past.

What I do not understand is exactly how more government ownership will be used to prevent the overall economic inequality that may be coming.

Already, with Elon Musk, we saw our first Trillionaire be created. That amount of wealth has never been in any single person before, so even if you are a billionaire, you may fee the "inequality". (NOT that it matters. Once you have your needs taken care of, the rest is just more and more for no real reason).

Will the ownership of our most valuable companies, by the government give the government the money to make basic income a standard?

How about starting with medical care for all?

Here is the post, and it is well worth reading:https://t.co/hYJPgPX83B

[Ricardo @Ric_RTP]

JD Vance just admitted the White House plan is to take ownership of every major AI company in America.

Steven Bartlett brought up Bernie Sanders' proposal that workers should own 50% of the major AI companies.

Vance's response: "The president by the way likes that idea too. He likes that idea."

Trump's preferred mechanism, Vance said, is a sovereign wealth fund where the US government takes equity stakes in private AI companies.

The Vice President literally just confirmed that an administration is planning the most radical economic policy proposed in modern American history. Partial nationalization of the MOST valuable private companies on earth. And the idea originally came from Bernie Sanders, who Vance said Trump agrees with on this point.

This is not a small thing:

The US has spent 80 years selling the world on the model where private companies stay private and the government stays off the cap table.

The countries that did the opposite, with sovereign wealth funds owning slices of their biggest firms, are Norway, Saudi Arabia, China, and Singapore. And the Trump administration told you on a podcast it wants to do the same to Silicon Valley.

But the reasoning Vance gave for it is where it gets really interesting...

He said the historical analogy that scares him is the original Industrial Revolution. His own words:

"Rich people got way richer. And that led to in Europe fascism and communism."

He believes AI will not cause mass unemployment but mass inequality, and that mass inequality is what breaks societies. His fix is that workers need a seat at the bargaining table before the wealth gets created, not a redistribution check after.

"I think labor unions are a very important model here."

And the other thing about AI that scares him is surveillance. His exact phrase was that AI is "fundamentally a communist technology" because it lets governments and corporations watch and score people in ways NOTHING else can.

He said he doesn't want a social credit system, doesn't want a tech CEO deciding whether you can buy a beer based on an algorithm nobody understands, and is afraid of exactly that outcome.

So here is the full picture:

The sitting Republican administration believes AI will make the rich dramatically richer, that this will radicalize the country the way the Industrial Revolution radicalized Europe, that the answer is government equity stakes plus stronger labor unions, and that the second-biggest threat is the surveillance state these companies are building.

That is not a Republican worldview. That is not even a Democratic worldview.

This is a worldview that has no political home in the United States right now.

Most people are still arguing about whether ChatGPT will take their jobs. But the people with the actual power are already past that argument.

They are quietly designing the framework for owning the companies that will.

The craziest part is how casually Vance dropped it as a sidenote on a podcast millions will half-listen to in the background.

If you have money in OpenAI, Anthropic, or anything like that, you should be watching the full thing yourself.

What do you think?

[Bob @Truthsnoopy]

Magaland promises places where the are low to no taxes, and a horn of plenty for all!

Just move there and we live the American dream. From Florida to Texas, taxes are not needed anymore and some magic way of paying for public needs is ever present, or possibly not, as the article link below on property tax repeal shows.

https://t.co/1GXjV1pW4n

[Bob @Truthsnoopy]

It was announced that the Senate has passed a new housing bill. I asked Gemini a/i for a summary of the bill. Here is what Gemini says is in the bill:

Key Provisions of the Act

The bill is a comprehensive package that combines priorities from both the House and Senate. Some of the most notable features include:

Institutional Investor Restrictions: A major component of the bill—and a priority for the current administration—is the restriction on large institutional investors (defined as those owning 350 or more single-family homes) from purchasing additional single-family homes. The legislation aims to prevent these firms from outbidding individual homebuyers.

Boosting Housing Supply: The act provides incentives for state, local, and tribal governments to modernize zoning and land-use policies. It includes grants for planning and implementing affordable housing and streamlines the environmental review process (NEPA) for specific housing-related activities, such as infill development and smaller projects.

Expanding Affordable Housing Finance: The bill raises the cap on bank "public welfare investments"—which include affordable housing and community development projects—from 15% to 20%. This is intended to increase the capacity of banks to finance these developments.
_______________
" Community Banking Reforms: The package incorporates several provisions sought by the House to support community banks. This includes streamlining the de novo (new) bank application process, raising asset thresholds for examination cycles, and establishing mentor-protégé programs.

Federal Program Modernization: The legislation updates and reforms several existing programs, including the HOME Investment Partnerships program, the Community Development Block Grant (CDBG) program, and the Rental Assistance Demonstration (RAD) program. It also seeks to modernize the U.S. Department of Agriculture’s (USDA) Rural Housing Service.

Digital Currency Restriction: The bill includes language that would temporarily prohibit the Federal Reserve from establishing a digital dollar."
____________
I have no idea why the legislators want to prohibit a digital dollar, because it seems to me that all dollars are now merely digits in a computer for the most part. Why not have the primary crypto unit be the digital U.S. dollar instead of the Chinese or Bitcoin digital currency?

[Bob @Truthsnoopy]

Jobless claims were just posted. The initial are on projection but the continuing rose, and the manufacturing index came in on expectation but business conditions contracted.

Here are the numbers from https://t.co/FoFvFBDSXC:

[Bob @Truthsnoopy]

If you are interested in what is actually in or out of the Memorandum of Understanding to end Trump's war in Iran, here is a link the entire text from CNN.

I read the entire agreement, and it seems to me to be weak on what Iran must do, and how it will be monitored while giving it hundreds of times more money and relief from sanctions than Obama did. Hopefully, the subsequent negotiations will fill the holes that are readily apparant in this Memo.

https://t.co/pH6bzZ05ts

[Bob @Truthsnoopy]

Trump the Import Tax King's new chief at the Federal Reserve gave his first news conference yesterday. He was the "Great Trump Hope" that interest rates would be bullied into a cut regardless of inflation.)

The result?

In a unamious decision, the FED stood pat on keeping interest rates at the level they are at, and on the dot plot, only 1 of the 18 members thought it was good to lower them and 5 thought they should go HIGHER!!!

Once again, Trump wins "bigly"! (NOT!!, But actually, America does by not having a Federal Reserve that is controlled by politics.

If you are looking for a home, or car, or to finance your business, the mortgages or loans will in all probability for the next 6 to 8 months stay the same.

You should be aware that many lenders will let you buy down the interest rates by paying "points" to the lender. Often, you can have the seller pay the points too. It depends on the lender and loan, but it is a real way to lower your mortgage payments.

[Bob @Truthsnoopy]

Is the new "deal" with Iran something that has actual benefits compared to the status prior to the war?

If you are Iran, the U.S./Israel bombing of Iran set them back with their military, but the Memo of Understanding gives them over 300 billion and more to rebuild and an open Strait of Hormuz with a promise of the U.S. to pull out all of its military in the region, remove all sanctions etc. etc.

If you are the U.S., if you believe Richard Goldberg, a former Trump administration security advsor, the setback of Iran's missile program and nuclear program is well worth it. According to him, the war has destroyed Iran's capability to produce ICBM missiles, and nuclear bombs has been destroyed and Iran has over 1/2 billion in damage to recover from.

Therefore, according to Goldberg, it was worth the closing of the Strait of Hormuz to achieve a long range goal of removing Iran's ability to wage terror. According to many others, we are simply paying Iran to remake its war machine and remove the blockade to the Strait of Hormuz.

How this "deal" is finalized in the next 60 days will be the acid test. That finalized deal must have a real way for Iran's military buildup to be monitored and stopped before it resumes its "march to the sea" through terrorist groups like Hamas and Hezbollah.

[Bob @Truthsnoopy]

Trump has made a big statement today at the G7 meeting that Iran has said it will "never have a nuclear weapon". I hope that is true. How will they be evaluated as to whether or not they are making one again will be key.

The markets today are not convienced as they are trading sideways. I suppose that promising 39 times that a "deal" is about to be signed in a few days, and it never happens, takes the wind out of the "deal" sail!

[Bob @Truthsnoopy]

So, CNN now has an early copy of the Memorandum of Understand that is supposed to be formally agreed to. They say that it does nothing much that is different than what the situation was BEFORE THE WAR STARTED!!!

Here is the summary from CNN

• US-Iran agreement: Iran will be able to export oil as soon as its agreement with the US is signed, according to a draft copy of the document obtained by CNN, which also states Iran will “never produce nuclear weapons.”

US President Donald Trump will soon hold a news conference at today’s G7 summit, and questions about the agreement will likely come up.

Read the draft here.https://t.co/FDvuojRivR•

What Trump has said: Trump earlier said the agreement is not a final deal, adding that the US will resume strikes if Iran doesn’t “behave.” He also denied the US would be investing in a $300 billion reconstruction fund for Iran.•

In Lebanon: Meanwhile, Israel carried out a series of strikes in southern Lebanon today, as Lebanese President Joseph Aoun said he was in favor of a ceasefire and welcomes “any state” to help in the effort toward a truce. The draft text of the agreement ends the war on all fronts, including Lebanon."

[Bob @Truthsnoopy]

Sounds more and more like Iran is coming out of the war with much more than it is giving up. There is no formal committment from Iran to stop any weapon buildup with accompaning verification. However, there is the following as reported from Reuters:

"DUBAI, June 17 (Reuters) - A $300 billion private fund designed to trigger investment into Iran is outlined in the U.S.-Iran framework agreement ​and more than half that sum has already been committed, a source with direct knowledge of the deal told Reuters."----https://t.co/Ahnv0CXSnT

________________
So, Iran gets $300 billion and purportedly like the deal for the new Trump ballroom (can't wait to see him do a tango!), the money is all from private funding. (but new reports say the ballroom is costing taxpayers 1/2 of the total).

And, the U.S. gets "Promises, Promises" as the Burt Bacharach song said:

"Oh, promises
Their kind of promises
Can just destroy a life"....or lives as the case may be.

[Bob @Truthsnoopy]

Today's reports are that mortgage rates are stable, and Retai sales are still growing. That is good news even if some of the growth is simply from oil and price inflation.

Stable rates are something everyone can work with. Huge volatility in rates are very bad for everyone.

Here are the numbers from https://t.co/DYXgzgNNXf:

[Bob @Truthsnoopy]

Who has the leverage in the negotiations with Iran? Many experts say that the leaked versons of the Memorandum of Understanding gives all the benefit to Iran whil Trump pulls out all American military.

Sounds like another surrender that is similar to the one Trump/Pompeo did in March of 2020 with the Taliban. Pull out all the troops, lift sanctions on Iran, let Iran resume selling oil and rebuilding their military/nuclear capabilities and sponsoring terrorist groups, and the U.S. and Israel are back to square one.

Trump repeats his threats again and again, but after the first several days of the war, they have been empty threats. Perhaps Iran is counting on this dog's bark being much bigger now than his bite!

[Bob @Truthsnoopy]

Is the new "love letter" negotiations of the Memorandum of Understanding between Trump and Iran's new Supreme Lead Ayatollah Mojtaba Khameini could be hitting some speed bumps. After all, why wouldn't you be willing to make a deal with the person who killed your family and father that gives that person what they want?

Reading betweent he lines could mean that the "deal" is not going well, or that Trump simply wants to assert more leverage. Friday is the stated deadline day for official signing of the Memorandum of Understanding giving a 60 day time limit to the other long term negotiations.

You get the "Dealer's Choice" as what this headline screen grab from Trump implies:

[Bob @Truthsnoopy]

Today is the first FED report from the new Chairman, Kevin Warsh.

Warsh was Trump's 2nd handpicked Chairman, and he wants Warsh to lower interest rates. If he cannot do that, with inflation now at a 4.2% rate thanks to the Iran War and tariff taxes increasing prices, Warsh may find himself on the S*** list of Trump in short order. That happened to the former Trump handpicked Chairman, Jerome Powell.

The interest rate decision is made by committee, and it will remain to be seen if Warsh pushes for an interest rate drop, or, if as he testified before CONgress, he will use economic analysis to determine rate bias instead of responding to political pressure.

His speech is this afternoon at 1:30, after the interest rate decision is made at 1:00. It should be an interesting first date for those of us who watch these press conferences.

[Bob @Truthsnoopy]

No one other than the negotiators have seen the "deal" that purportedly will be signed by the U.S. and Iran on Friday. This is the third day without public disclosure of the "deal".

Reports are now coming in that there are 3 deals.

One is what the U.S. has said is the deal, one that Iran says is the deal, and one which may eventually be the actual "deal".

You may recall that this is merely a 60 day deal to reopen the Strait of Hormuz that also requires the U.S. to remove its blockade of the Strait, in a Taliban Surrender style already perfected by Trump in March of 2020 when he cut and ran out of Afghanistan and left a mess for Biden to clean up.

Iran says it must have money. It wants about 12 times the amount Obama paid for the treaty he made with Iran to limit its nuclear ambitions.

The conflict between the Arabic and Jewish worlds is a huge aspect of this war, and that has gone on for thousands of years!

Will 60 days be enough to end thousands of years of turmoil and result in a peaceful Iran/Israel love fest?

Will Trump the Import Tax King settle everything just like he did with his "love letters" to North Korea's Kim Jeun-Un?

Will the negotiations with Iran be a successful as in North Korea and at least end with a status quo and no war going on?

Or, will we start bombing and blowing up stuff again?

What are the other benefits to Iran that will give it a reason to limit its nuclear program if it now has the Strait of Hormuz open so it can export oil again and get billiions for its treasury?

Will the threat of being bombed again get Iran to negotiate a real end to nuclear development? Or, will Trump need to pay reparations in addition to releasing about 12 times the amount of sanctioned funds that Obama paid?

We will see what happens, but it looks like another head fake may be in progress.

[Bob @Truthsnoopy]

Well at least we have taxes for a big ballroom according to the Washington Post!:
"Records reveal $600M estimate for Trump’s ballroom project, with half from taxpayers
An internal cost estimate in March by the project’s contractor ran $200 million more than Trump has said publicly and counters his claims that no taxpayer money will be spent."
------https://t.co/qtbF8UqUV3