Sometimes the lying is just too obvious

The Washington Post reported that on June 14, the Federal Reserve estimated that “more than $6.5 trillion in household wealth vanished during the first three months of this year as the pandemic tightened its hold on the global economy…. roughly equivalent to the economies of the United Kingdom and France combined.”

As Chuck Collins, Director of the Program on Inequality and the Common Good observed “since March 18th, the US Billionaire class has seen their wealth increase by 20%, or $584 billion, since the rough beginning of the pandemic.”

Look at the time periods again.

22 thoughts on “Sometimes the lying is just too obvious”

  1. Bloke in North Dorset

    OT

    I see that the NYT has jumped on the anti Mt Rushmore campaign and supporting calls for it to be removed.

    I look forward to them finding out the 13th Amendment was written by a white man.

  2. @BiND, so was the 1st amendment which allows the press free reign. It’s the only industry protected by the constitution.

  3. “more than $6.5 trillion in household wealth vanished during the first three months of this year”

    Savvy investors don’t care. In fact, I paid no attention. I was going to sell some stock, but price dropped out, so I didn’t.

    “since March 18th, the US Billionaire class has seen their wealth increase by 20%”

    S&P 500 has recovered. So as Tim notes the time periods, it went down, it came back up. If you cherry pick, you can say billionaires gained. They just got back what they had “lost.”

    The same for the small time Gamecock Fund.

  4. “It’s the only industry protected by the constitution.”

    2nd protects firearms industry.

  5. The same amount of goods exist now as before. Paper/conceptual value might have gone–but all the machines and tech that kept us alive 3 short months still exist.

    More if you regard the WaPo as the poor quality bog roll it is.

  6. It’s kind of interesting that these key constitutional rights are actually amendments… even the first, which is most celebrated amongst constitutional clauses perhaps

  7. How did the earlier attempts at drafting constitutions go! The 10 commandments are basically sound, with some curious details. But Solon and Hamurabi? Maybe dearieme knows

  8. “the 1st amendment which allows the press free reign. It’s the only industry protected by the constitution.”

    I don’t think so. By “the press” they probably meant anyone who published anything, not specifically the newspaper biz.

    “Congress shall make no law … abridging the freedom … of the press.” So I could, were I a Yank, publish whatever I liked without legislative interference.

    For much of my life I suspect that speech was far freer in Britain and Australia, for instance, than in the US because all sorts of non-Congressional parties seemed effectively to clamp down on US speech, judging by how mealy-mouthed many Americans were. Nowadays, though, when all the English-speaking countries are infected by (Californian?) ant-free speech ideas, the US constitutional right seems rather valuable. But no doubt the bastards will find a way around it, perhaps via the Supine Court.

  9. The Ten Commandments: I always ask whether the person means those in Exodus or those in Deuteronomy. It turns out that almost no fan of the Ten knows there are two different sets. Then there’s the matter of the “ten”: the Exodus set seems to contain thirteen instructions.

    Solon and Hamurabi: “not my field”. Mind you, neither is the OT. But everyone should have a nodding acquaintance with that, don’t you think? If only to justify dismissing all the important stuff as absurd fiction.

  10. Good Lord, I’ve just googled. I hadn’t appreciated that Exodus itself has two different sets of Commandments, one in chapter 20 and the other in chapter 34. So now we are up to three different sets. Any advances on 3?

  11. Some argued the Bill of Rights was not needed. All of it was obvious. The cynical said, “Let’s get this in writing.”

  12. Have you ever read John Ringo’s March Upcountry/To the Sea/To the Stars military sci-fi series Gamecock? There’s a couple of sly references in it to a planet with a constitution having the phrase “and this time we really, really mean it”, presumably referring to the arguments about the wording of the 2nd amendment. Now that’s cynicism.

  13. Bloke in North Dorset

    “ It’s kind of interesting that these key constitutional rights are actually amendments… even the first, which is most celebrated amongst constitutional clauses perhaps”

    As Gamecock says, a number of States made a Bill of Rights (Amendments 1 to 10) conditional on ratification. AIUI for some States the 3rd Amendment (Quartering) was just as important as the first 2 because of the way Washington had made people house the Continental Army.

  14. @Mr Yan and others…

    It’s an obscure biblical fact that God originally intended to hand down 100 Commandments. The Israelites were most concerned by the restrictions this was going to place upon their community and so deputed Moses, who was the top union negotiator of the time, to see if things could be made less constricting.

    After lengthy discussions at the top of the mountain, Moses returned saying “I’ve got some good news and some bad news… Good news is I’ve got Him down to ten, the bad news is adultery’s still in.”.

  15. BiNB,

    I think that even the Massachusetts Constitutional Convention declined to make its ratification of the Constitution formally conditional on the passage of a Bill of Rights, though it did not ratify until it collectively felt that the Constitution’s proponents were under an equally strong moral obligation to deliver. In fact, I have found that quite a good way to explain the trajectory of the UK’s EU membership to USAians bemused by Brexit is to ask them to imagine Massachusetts’ reaction had the newly formed Federal Government repudiated the commitment to enact a Bill of Rights.

  16. Bloke in North Dorset

    Alan,

    Yes that’s how I understand it.

    Not sure about your EU analogy though. In ’75 we were assured that we weren’t heading for a political EU and then thy foisted one on us with the Lisbon Treaty. Although in both cases the masses stitched up by the political elite.

  17. @ dearieme
    Exodus XXXIV is not the Ten Commandments: the passage says God tells Moses to make two new tablets on which to write the Ten and then adds some minor instructions including “you shall not boil a kid in its mother’s milk”
    The Ten Commandments in Exodus XX and Deuteronomy V are the same, even if the phraseology is slightly different.

  18. Thank you, MrYan. But doesn’t that page imply a fourth set exists, in Leviticus? I didn’t find that passage very clear.

    “another writer, the Priestly source, later took offence at parts of JE, and rewrote it, dropping the story of the golden calf, and replacing the Ritual Decalogue with a new (ethical) decalogue initially based on it, but taking commandments from elsewhere as well, and replacing the Covenant Code with a vast new law code, placed after the Decalogue for narrative reasons, most of which forms the greater part of the mitzvot in Leviticus.”

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