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Big Tech Revolt Of 2018

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(Via Zerohedge)
By TD

Something must be terribly wrong with the world. A few days ago Elizabeth Warren agreed with Trump on China, now Bernie Sanders agrees with him about Amazon.

What’s happening?

Bernie Sanders Agrees With Trump: Amazon Has Too Much Power

Independent Vermont senator and 2016 presidential hopeful Bernie Sanders echoed President Donald Trump in expressing concern about retail giant Amazon. Sanders said that he felt Amazon had gotten too big on CNN’s “State of the Union” Sunday, and added that Amazon’s place in society should be examined.

“And I think this is, look, this is an issue that has got to be looked at. What we are seeing all over this country is the decline in retail. We’re seeing this incredibly large company getting involved in almost every area of commerce. And I think it is important to take a look at the power and influence that Amazon has,” said Sanders.

A backlash against Facebook, a backlash against Amazon. Are these things connected? Actually, yes, they are connected. But not in a way that either Trump or Sanders has clued in to. Someone who has, a for now lone voice, is David Stockman. Here’s what he wrote last week.

The Donald’s Blind Squirrel Nails An Acorn

It is said that even a blind squirrel occasionally finds an acorn, and so it goes with the Donald. Banging on his Twitter keyboard in the morning darkness, he drilled Jeff Bezos a new one – or at least that’s what most people would call having their net worth lightened by about $2 billion:

“I have stated my concerns with Amazon long before the Election. Unlike others, they pay little or no taxes to state & local governments, use our Postal System as their Delivery Boy (causing tremendous loss to the U.S.), and are putting many thousands of retailers out of business!” You can’t get more accurate than that. Amazon is a monstrous predator enabled by the state, but Amazon’s outrageous postal subsidy – a $1.46 gift card from the USPS stabled on each box – isn’t the half of it.

The real crime here is that Amazon has been exempted from making a profit, and the culprit is the Federal Reserve’s malignant regime of Bubble Finance. The latter has destroyed financial discipline entirely and turned the stock market into the greatest den of speculation in human history. That’s why Bezos can kill established businesses with impunity.

The casino allows him to run a pernicious business model based on “price to destroy”, rather than price for profit and a return on capital.Needless to say, under a regime of sound money and honest capital markets Amazon would be a far more benign economic creature. That’s because no real investors would value AMZN’s money-loosing e-Commerce business at $540 billion – nor even a small fraction of that after 25-years of profitless growth.

The bubble economy, the everything bubble, that we have been forced into, with QE, ultra-low rates, central banks buying trillions in what at least used to be assets, and massive buybacks that allow companies to raise their ‘value’ into the stratosphere, has enabled a company like Amazon to kill off its competition, which consists of many thousands of retailers, that do have to run a profit.

It’s a money scheme that allows many of the most ‘valuable’ tech companies to elbow their way into our lives, in ways that may seem beneficial to us at first, but in reality will only leave us behind with much less choice, far less competition, and many, many fewer jobs. Once it’s done someone will mention ‘scorched earth’. But for now they are everybody’s darlings; they are, don’t you know, the tech giants, the brainchildren of the best that the best among us have to offer.

They don’t all work the exact same way, which may make it harder to recognize what they have in common. For some it’s easier to see than for others. It’s also difficult to list them all. Here’s a few: Apple, Amazon, Facebook, Google (Alphabet), Tesla, Uber, Airbnb, Monsanto. Let’s go through the list.

Apple ? Yes, Apple too. But they make real things! Yes, but just as Apple CEO Tim Cook seeks to distance his company from the likes of Facebook on morals and ethics, he can’t deny that Apple sells a zillion phones to a large extent because everybody uses them to look at Facebook and Alphabet apps until their faces are blue. If data ethics are the only problem Cook sees, he’s in trouble.

Silicon Valley infighting shows that the industry does have an idea what is going wrong, in ways that should have already led to many more pronounced worries and investigations.

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Politics

Bannon An ‘Oppurtunist’ – Trump Jr & Newt Gingrich

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(Via Zerohedge)

In the course of less than a day, former Trump strategist Steve Bannon has gone from simply “former Trump strategist” to “radioactive backstabber,” after The Guardian reported that Bannon, in Michael Wolff’s new book “Fire and Fury, called a June 2016 meeting at Trump tower involving Russian attorney Natalia Veselnitskaya “treasonous” and “unpatriotic.”


“Even if you thought that this was not treasonous, or unpatriotic, or bad shit, and I happen to think it’s all of that, you should have called the FBI immediately.”

In response, President Trump issued a four-paragraph scorching reply, saying Bannon had “lost his mind.” Donald Trump Jr. also responded, calling his father’s former chief strategist “backstabbing, harassing, leaking, lying & undermining the President,” adding “Steve is not a strategist, he is an opportunist.”

Newt Gingrich chimed in on Fox News, telling Neil Cavuto, “I think that Bannon thinks he’s extraordinarily important. But the fact is, Trump had won the nomination without Bannon. Trump would have won the presidency without Bannon. And Trump has governed without Bannon.”

So I think there’s an exaggerated sense of who Steve is. And I think, remember, this is a guy who got fired. So you have a guy who has been fired who is trying to claim a bunch of things, which he apparently did not claim at the time.

And I think you have to just say, you know, it’s noise. It has nothing to do with — the things that matter to America and the things that matter to the American people have no relationship to the kind of noise that we’re going to spend all day today with.

And luckily for the president, he’s really come to distinguish between the things that matter and the things that don’t. The meeting this weekend at Camp David matters with the Republican leadership. Steve Bannon saying a bunch of junk doesn’t really matter in the long run. It will disappear. -Newt Gingrich

Trump Jr. also replied to a tweet by conservative pundit Bill Mitchell, which quotes a portion of Bannon’s book, reading:

“On Election Night, when the unexpected trend , Trump might actually win, seemed confirmed, Don Jr. told a friend that his father, or DJT, as he calls him, looked as if he had seen a ghost. Melania was in tears—and not of joy.”


Trump Jr. responded: “Another good one. Anyone who knows me or follows me knows that’s about as far from something I would say or how I speak as possible… What a joke.”

And earlier in the day, Trump Jr. tweeted “Andrew Breitbart would be ashamed of the division and lies Steve Bannon is spreading!,” after tweeting “Wow, just looked at the comments section on Breitbart. Wow. When Bannon has lost Breitbart, he’s left with . . . umm, nothing.”

And now, it appears as though Bannon may have lost any hope of cobbling together political capital. As US News reports;

Despite his blatant miscalculation and the animosity he stirred among traditional Republicans, Bannon’s enduring influence was that he purportedly had a direct line to Trump – the White House confirmed they spoke by phone last month – and could help mold the president’s thoughts on policy and political strategy.

Now, that line appears lacerated.

“Now that he is on his own, Steve is learning that winning isn’t as easy as I make it look,” Trump said in the statement. “Steve doesn’t represent my base – he’s only in it for himself.”

The extraordinary breakup between the two larger-than-life comrades led to immediate fallout across the Republican Party. GOP leadership rejoiced at Bannon’s fall from grace, with allies of Senate Majority Leader Mitch McConnell reveling in and sharing the president’s takedown.

Bannon’s split from the Trumps puts wealthy GOP donor Robert Mercer and his daughter, Rebekah Mercer in an awkward spot – as the financier have financially supported Breitbart, while also supporting President Trump and his GOP causes. Mercer announced in November that he was selling his stake in his company to his daughters – while at the time, making it clear that while he occasionally discusses politics with Bannon, he’s not always aligned with him.

And as Trump Jr. said earlier today – when Bannon has lost Breitbart, “he’s left with … ummm, nothing.”

In September, Bannon appeared on 60 minutes where heb called himself a “street fighter” and “declared war on the GOP” for trying to “nullify the election.” Bannon also said that the Trump administration made the “original sin” of embracing the establishment. “I mean, we totally embraced the establishment … Because ya had to staff a government.”

Bannon also said he was going to be Trump’s “wing man outside for the entire time, to protect [Trump] and to “make sure his enemies know that there’s no free shot on goal.”

Well – it looks like Bannon just took a shot on his own goal, and will be cast into radioactive irrelevancy for time immemorial.

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Iowa

Blexit / WalkAway: Majority of Non-White Voters Plan To Vote Republican in Iowa’s 1st District According to NYT Poll

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In what seems to be a testament against a “blue wave”, according to a NYT poll taken back in September, it shows that 45% of non-white participants, the majority, plan to vote Republican. With 42% voting Democrat are 13% undecided. Non-white people were 7% of those polled entirely.

What also is interesting is it shows 52% white people voting Democrat, with 37% voting Republican, and 11% Undecided. Showing a higher rate of non white people voting for Republicans than white people.

Now overall this poll also showed Abby trouncing Blum, and while we disagree with the polling numbers to that extent because it seems that they may have over sampled Democrats, although we can’t tell because the poll data does not show party affiliation.

No matter how you frame it, it shows the media’s race baiting narrative hasn’t worked in Iowa’s first district as much as they hoped and non white people are a powerful force within the Republican party.

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Media

Bill Maher Brings On Vaccines Skeptic, Gets Railed By Media

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This past Friday Bill Maher brought on a “questionable” guest as his first on his show ‘Real Time’ on HBO. The guest in question —, is a known Vaccine Skeptic. It was quickly noticeable from the crowd reaction, which is usually sporadically either clapping or laughing, often mocked by Bill himself, was very quiet and toned down, most likely thrown off guard. This issue, like many Bill champions on his show, are issues he prides as fringe on both sides of the aisle, the far-left and far-right often being huge skeptic of establishment Scientist and Doctor opinions.

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