I just can’t with this fucking guy- now he wants to end the FDIC.
We’re the dumbest country ever and it really makes you wonder how we got so powerful.
by John Cole| 97 Comments
This post is in: John Cole Presents "This Fucking Old House"
I just can’t with this fucking guy- now he wants to end the FDIC.
We’re the dumbest country ever and it really makes you wonder how we got so powerful.
Comments are closed.
Trivia Man
Other countries might have had worse leaders… but i can’t think of any off the top of my head that CHOSE them so willingly and smugly
White & Gold Purgatorian
The dumbing down of Americans in my lifetime is staggering.
Randal Sexton
Its hard to guess where this idea of getting rid of the FDIC comes from. I don’t know how to grift off of that. The crypto crowd maybe ?
Quinerly
@Trivia Man:
And chose them twice. With a break in between.
piratedan
I predict that there will be a LOT more high profile murders of corporate elites in the next few years.
Princess
Americans want a king I guess.
Noskilz
Too many people decided they didn’t have to pay attention to what was going on around them, and now they are going to have to pay attention to all sorts of things they never dreamed they’d have to whether they want to or not.
Like song goes, The lunatics really have taken over the asylum
Gin & Tonic
@Trivia Man: Germans elected Hitler.
Betty
@Noskilz: There will be many surprised Trump voters.
Peale
@Randal Sexton: fintec, especially the kind that wants to advertise that’s it’s a bank, but not do the basics of being a bank, like keeping accurate records of deposits and accounting or reserves. There was one recently that pretended to be a bank, but then announced that it was really a sweepstakes.
Jay
@Gin & Tonic:
Technically, no,
https://en.wikipedia.org/wiki/Adolf_Hitler%27s_rise_to_power
SpaceUnit
Imagine that. And I keep pissing people off here by saying that we’re fucked.
Splitting Image
@Trivia Man:
Karl Marx had some funny things to say on the subject of Louis Bonaparte and the fellows who engineered his rise to power.
Before that, I think you may have to go back to the Athenians’ embrace of Alcibiades.
Kirk
Wants to fold the insurance into Treasury proper, then get rid of the banking regulation. Partly crypto, partly regulations that don’t “let bankers use reasonable risk in investments” (I think that’s the way I saw it worded)
Jeffro
reposting from the previous open thread that went up just 46 minutes ago…
oh
you don’t say
it’s almost like there’s a reason the guy is anti-government, and especially anti-IRS
TS
@SpaceUnit:
Hard to argue with that, looking in from outside. Main issue being most the rest of the so called “free” world is also fucked. Seeing world leaders bowing to the new leader is nauseating to the extreme.
Harrison Wesley
@Princess: Swino the Diapered.
SpaceUnit
@TS:
Yes.
Where do you call home?
Suzanne
@White & Gold Purgatorian:
I’m so skeptical of claims like this. I think Americans have been dumb for a long time.
SpaceUnit
@Jeffro:
Very soon the IRS will be a very different agency with entirely different priorities and marching orders.
Musk will be fine.
Michael J Windbigler
p.a.
Oh boy! 2008! Can’t wait! //s
VFX Lurker
I use a credit union, so I rely on the credit union equivalent — NCUA insurance. Hoping the kakistocracy doesn’t target NCUA.
I also have savings in I-Bonds and a Treasury money market mutual fund. They’re supposed to be as good as FDIC-backed CDs and bank accounts, because the United States has never defaulted on its debt. Hoping the kakistocracy doesn’t blow that up, too.
Peale
@Jeffro: yep. You know, there was this huge financial shock 4 years ago, and usually when the tide goes out suddenly like that, a lot of junk gets revealed. And not a lot of junk got revealed this time. What he hates about the SEC is that from time to time they’ve tried to make him behave like an actual CEO and with a business with real accounting and some accountability for not being able to make up accounting metrics. That of course impinges on his free speech rights. So they got to go.
Martin
The billionaires really have done a great job of getting the working class and the professional class to scream at each other while they just strip the wires out of everything that both classes rely on.
I’m a top 5% guy, and the FDIC is still very relevant to me. You gotta get up to the deci-millionaires and up that it no longer is useful.
satby
Being the only standing first world industrial country after a world war decimated all our competition. But, now we’ll finally get to see how the rest of them felt as we sit in the smoking crater of our own economy.
Trivia Man
@Gin & Tonic: my thought process, flawed as it may be, is that Germany was in dire condition and feeling it was hopeless. Recovery from a devastating war with a punitive aftermath. World wide economic turmoil. Revolutions succeeding practically on their doorstep.
We had a miraculous recovery from a tremendous economic downturn. No apparently dangerous foreign threats in the immediate present. Things looking rosy.
Nah, better grab the wheel and MAGA!!!! Then after a pandemic recovery and another economic success story… WATCH ME DO IT AGAIN!!!!
NotMax
@Trivia Man
Bolsonaro? Duvalier? Orban? Lukashenko? Perón? Nasser?
And that’s just a few.
Peale
@Kirk: yep. It should be noted that despite all these onerous banking regulations, a grand total of 4 banks failed when the press was all up in arms about there being a huge recession. Two of the banks were involved in some pretty niche lending to businesses that were impacted by COVID, like Broadway shows. One was just a case of old fashioned bank fraud where someone embezzled money. And the other was a run caused by Peter Thiel. The banking system is … too sound? There isn’t a shortage of capital out there.
A Man for All Seasonings (formerly Geeno)
@Suzanne: Americans have always been dumb, but dumb Americans used to be less politically active. If they bothered to vote at all, they split their vote randomly out sheer ignorance. Now the stupid act, and they act in concert.
Kay
Trump says its hard to bring down grocery prices so he doesn’t know if he can do it.
This is a week after his last interview, where he said he was elected on “groceries and the border”. So 50% gone and he’s not even in there yet.
Kay
I assume between last weeks interview and this weeks interview someone told him they won’t be actually cutting grocery prices.
danielx
It’s a mystery…no, it’s not. Many of our fellow citizens voluntarily became dumb fucks.
catclub
and the unemployment rate in 1932 was 48%. Whats our excuse?
avg IQ is now 48?
FastEdD
I was counting on the FDIC to keep my life savings safe from these bastards. I hear roasted sparrows taste okay if you’re hungry enough.
A Ghost to Most
This is what happens when you humor the selfish and self-righteous.
White & Gold Purgatorian
@Suzanne: Well, they — we — seemed smarter 50 or 60 years ago. Maybe we just put up a better front.
Harrison Wesley
@Kay: If pressed, his administration’s answer to everything will be straight out of Animal House: “Hey, you fucked up – you trusted us!”
Kayla Rudbek
@VFX Lurker: I have some savings that I need to transfer from one credit union to another, and I think that the simplest way would be to buy T-bills. But now I’m not sure if even that would be a safe option. These idiot RWNJ reactionaries aren’t even good at conservatism, because they can’t and won’t keep things stable.
Shalimar
@p.a.: Abolishing the FDIC will make 2026 much worse than 2008.
Trivia Man
@NotMax: eagerly and smugly? I am perhaps not well informed.
Bupalos
@Gin & Tonic: seriously. The level of American exceptionalism that still exists, even in this inverted ahistorical, hyper-provincial form of “we’re uniquely dumb” is perhaps the most exceptional thing about us.
this is all completely normal. Normal all too normal.
danielx
@Shalimar:
One thing we know for sure: whatever happens, it will not be Donald Trump’s fault.
Edit: although it will be a stretch to blame Democrats for whatever disasters occur when Repubs control House, Senate and White House, I have faith.
scav
Thing about many Americans is they’ll sit in the swill of their own making and insist it’s the greatest ever, the worlds’s best, bar none. Rather like post-empire, let along post-brexit England, only with a lot more Mississippi/Louisiana in it.
Jay
@Kay:
And they will tell him something different next week. Hair Shitler always parrots the last thing he is told.
Bupalos
@FastEdD: I eat maybe 10-20lbs of acorns every year. They’re ok. I can recommend them crusted with maple sugar served on dandelion greens, and a tangy apple cider vinegar dressing. You need the bitter and acid because they have a strange cloying sweetness a bit like chestnuts.
Lord Fartdaddy (Formerly Mumphrey, Smedley Darlington Mingobat, et al.)
Naturally. It makes sense. I guess the F.D.I.C. must make it harder for criminals, so of course, he’d want to do something like that.
Harrison Wesley
The level of suffering we’ll witness (and experience) for at least the next few years looks to be pretty intense. Of people who I’m very close to, the ones I worry about most are my older brother in Texas who’s in a nursing home living on some sort of Medicare – Medicaid deal, and my oldest friend in South Carolina who’s a Black woman as well as a disabled senior. I hope we can put the brakes on the worst of this shit.
comrade scotts agenda of rage
Manifest Destiny Bitches!
That and being buffered by two oceans.
Splitting Image
@Suzanne:
“A single word indicative of doubt that any thing, or every thing in that country is not the very best in the world, produces an effect which must be seen and felt to be understood. If the citizens of the United States were indeed the devoted patriots they call themselves, they would surely not incrust themselves in the hard, dry, stubborn persuasion, that they are the first and best of the human race, that nothing is to be learned but what they are able to teach, and that nothing is worth having which they do not possess.
The art of man could hardly discover a more effectual antidote to improvement than this persuasion; and yet I never listened to any public oration, or read any work professedly addressed to the country, in which they did not labour to impress it on the minds of the people.”
Frances Trollope, Domestic Manners of the Americans, 1832.
different-church-lady
@Trivia Man: Hitler got it done with only 33%.
Lord Fartdaddy (Formerly Mumphrey, Smedley Darlington Mingobat, et al.)
@comrade scotts agenda of rage: Yeah. Geographically, this continent is a miracle. Whichever group of people ended up the winner here was destined to become a superpower.
Bill Arnold
@Trivia Man:
Evan Hurst at wonkette (on the FBI director position):
The American people narrowly, and with a weak plurality of the popular vote, decided to give the literal worst thing that ever came out of God’s rectum a chance to be president again. He gets to make choices like this.
different-church-lady
@FastEdD: They taste even better when the black family in the next cardboard box over doesn’t have any.
comrade scotts agenda of rage
Shameless plug for 3 Jan 25 Denver meetup:
https://balloon-juice.com/2024/12/03/denver-meetup-jan-3/
Nine people thus far RSPVed. I’m gonna need a bigger crock pot!
If you’re interested, answer in that thread, WaterGirl will get me your email and I’ll reach out directly.
opiejeanne
The Lincoln Savings disaster comes immediately to mind. The Keating 5 were at the center of it.
We had about $600 on deposit with Lincoln Savings, but I walked it across the street to BofA in… 1972? Can’t remember why I did that, but a few years later I moved our savings to the city employees’ credit union.
Jay
@different-church-lady:
Technically the Industrialists, (Germany’s Felon Husk’s) got it done with only 33%.
Timill
@different-church-lady: Cardboard box? Luxury…
thruppence
We’re dinosaurs who have created and aimed our own asteroid. Some of us little mammals tried to stop it, but too many just wanted to sit on their own bushy tails and complain. I’m deeply sorry for those who have children and grandchildren.
different-church-lady
Ah, wait, here’s the answer!
Neanderthals interbred with modern humans 47,000 years ago, passing down DNA that still exists in many modern-day people, according to two new studies.
Sister Golden Bear
@Peale: More than two decades ago when Musk got deposed from the predecessor of PayPal* (his original “X” effort), he was trying to turn it into an unregulated bank.* So yeah….
*Peter Thiel and the others who ousted him realized that making unsecured loans and not checking to see if people were qualified to get loans wasn’t a great business plan.
RevRick
@Trivia Man:
@Princess: The desire for a king-like leader is deeply ingrained in the minds of people… everywhere. Governance is hard and handing over the responsibility is easy. The story of history is the story of kings. The story of science is the story of great scientists. The story of art and music is the story of great artists and composers.
History remembers the greats…like Alexander the Great or DaVinci or Newton or Columbus. You and I will be forgotten in a couple of generations after our deaths. I know of my great grandparents, but they are basically names on a page.
This adulation of those who make a big splash creates in our minds that our leaders can always make things happen. As Bill Clinton observed, “Wrong and strong beats right but weak.”
It takes a great deal of effort to cleanse one’s mind of the assumptions of white male supremacy which all of us have been taught by the culture in which we live. The hierarchical structure of race, class, and gender perfectly corresponds to a world where kings rule. Presidents are our elected kings and once we elected them we expect them to fix everything and make sure it runs smoothly.
I know this all sounds like babbling, but I hope you can connect my dots and hear what I am trying to say
satby
We knew enough not to elect fascists.
WTFGhost
@SpaceUnit: Well, considering that a woman *I* have fucked is blissful and satisfied, I find “we’re fucked” to be an inadequate descriptor of the trouble we’re in.
@Kirk: See also: Depression, Great
@Suzanne: Yes, but, in the past, people tried to protect dumb Americans from themselves.
TS
@SpaceUnit:
Australia
brendancalling
If he ends the FDIC, you’ll see a bank runs. If it didn’t affect me, I’d point and laugh. But I’d be part of the bank run. We all would be. I’m not leaving my cash somewhere it’s not protected.
Ohio Mom
@opiejeanne: Keating was from Cincinnati and was the reason our red light district was across the river in Kentucky. He was a fierce anti-porn activist.
In his twisted mind, porn was a lot more horrible than robbing bank depositors.
Steve LaBonne
@brendancalling: I think just making Congress vote on it would cause at least a mini-run. Fucking morons.
Steve LaBonne
@satby: Then the last people who remembered why died.
Randal Sexton
@Jay: Occasionally I read these series of wiki pages, to sort of haunt myself and remind myself of how that went down. The series of elections that got Hitler to power — the sum of the % of non Hitler, left of center candidates were > than Hitlers %, and if they had just consolidated on one candidate — https://en.wikipedia.org/wiki/July_1932_German_federal_election
VeniceRiley
@RevRick: TL;DR – Patriarchy, by definition, demands a patriarch.
scav
@different-church-lady: Well, as Neanderthals were intelligent, adaptable and good tool-makers, it is rather probably somewhat unfortunate that their contribution is so low in the current gene pool. Passed along some snappy viral defenses as well.
Steve LaBonne
@scav: I don’t know. People of European descent have the biggest genetic contribution from them, and considering how much trouble we’ve caused in the world…
dnfree
@Kayla Rudbek: Why can’t you just write checks from one credit union to the other? Or to yourself and endorse them to the other?
VeniceRiley
Potterville here, Potterville there, Potterville everywhere. Poor George Bailey S&L.
My banking issues while draining my lifeblood to extend my visa were such that I am considering … IDK, but something. Chase got so weird lately
scav
@Steve LaBonne: May only be because the good Neanderthal qualities only enabled the bad H. sap sap tendencies to really get going. If a few more diseases took out the colonizers . . . Quinine, Neanderthal resistance and whoever discovered one needs citric acid on long voyages have a lot to answer for.
matt
@danielx: it’s the world’s most popular luxury good.
Jackie
@Suzanne:
Naive is my word choice. Applied to Democrats.
We truly believed Good vs Evil would win.
Martin
@Kayla Rudbek: Why not just ask for a fund transfer? You give them the routing number of your other account and they send it. It’s effectively the bank writing a check on your behalf and routing it through the same system.
We do this all the time. Commercial banks will usually charge you but credit unions may not.
Ruckus
@Suzanne:
I’m not sure dumb is the correct word.
Misinformed – maybe.
Self involved – possibly.
Doesn’t give a shit – Now we might be getting somewhere.
Doesn’t know they should give a shit – Aww we are closer.
Doesn’t know how to give a shit – runs along with self involved.
Oh wait aren’t we talking about all humanity? Including the ones that think they deserve everydamnthing and will do anything to get it all or as least as much as possible that they can carry away.
I’m in a GRAND mood this evening…….
JaneE
@Gin & Tonic: But they didn’t. Hitler’s party did not have a majority in the legislature, but joined with others as a coalition and Hitler was appointed Chancellor. This was the legal procedure. The “Enabling Act” of 1933 gave the cabinet the right to pass laws bypassing the legislature. This essentially gave Hitler total control, all legally, but no voting by the citizens or legislature needed.
Chacal Charles Calthrop
@satby: I’m so afraid that you’re going to be proven right.
Chacal Charles Calthrop
@Shalimar: oh yeah.
2008 every investment bank hung up their investment banking shingle and applied to become an ordinary bank so that the FDIC could bail them out.
Watching a financial bubble pop with no FDIC? that will look like 1929-1933.
Belafon
@A Ghost to Most: humor? Ive been missing them off on Facebook for years.
NaijaGal
Wow! You got me researching Canadian banks in the US and whether the Canada Deposit Insurance Corp works for US account holders.
BigJimSlade
@comrade scotts agenda of rage: Two and a half, really.
Ruckus
@Suzanne:
Well the population has increased and I wonder how many of the dumb side didn’t realize that 5-10 kids really isn’t necessary.
As well our republican “leaders” seem to be getting power by bull and shit, which is the only thing that seems to fall out their mouths. Maybe it’s the only thing INSIDE their heads.
As an old, who depends on the retired benefit of social security (that I paid into for 60 yrs) I wonder what used restaurant garbage tastes like and how close to one can I put my tent. Of course if the economy is not just fucked with by the 2 dimmest bulbs on the planet but destroyed I won’t have to worry about paying for food, because I imagine that very little will be available. I’m not sure but I’d bet I’d rather starve to death at 75 than at 25.
In case no one has noticed I’m just a tad worried that shitforbrains #1 and #2 seem to be working towards destroying this country. Now that may not be their goal but it sure seems that our concept of government and their personal wealth and power seem to be on the road to destroy the first and build up the second. I wonder if they have any idea what life might be like being the wealthiest in a country of poor starving beings that may just end up not all that happy about their escapades causing those poor to starve to death.
It takes all kinds to make a country – it very likely only takes a couple of wealthy assholes with way too much power to destroy most of one.
Ruckus
@FastEdD:
You have to catch the sparrows and start a fire. And have a place to do that. And a full meal would be a number of sparrows. I see this not working all that well with most of the country looking for them……..
Ruckus
@RevRick:
I’m old enough that even though I was the youngest in my immediate family, as of early January of this year, I am now the oldest of the extended family and only person left in my family. Everyone in the extended family is younger than me. This is of course the way humanity works, we are born, we grow, hopefully in both size and brain function, and at some point we’ve lived a life. Had a cousin that lived 6 months and one, not even the oldest in his immediate family passed early this year. It’s humanity. It is what it is and the individuals last as long as they last. With the advances in medicine in the last 75 yrs many more of us live to be old. I have a friend my age who lives in the same complex that had polio, because there was no vaccine till we were 5-6 yrs old, she got polio at one year old. She is not the only person I know/knew that had polio. Girl I went to school with for 12 yrs had it. And she walked into our 50th high school reunion without crutches of any kind. One of my childhood neighbors had polio as well. If I remember correctly he lost a leg and had an aftermarket replacement.
Medicine is just a tad better than it was when I was born……
Ruckus
@Princess:
I’d say that many are actually looking for a janitor – except that every janitor I’ve met was smarter than shitforbrains, and not as pompous or obnoxious.
@Randal Sexton:
I’d go with stupid – which is anyone involved with shitforbrains. And it’s because it makes no sense other than removing a governmental controlling system that insures our savings and makes it much harder for people of less than reputable desires to remove it from our possession.
prostratedragon
@Ruckus:
Squab was tasty.
Jay
@prostratedragon:
So is duck, and often, there is enough to share.
You don’t need $3K worth of neoprene camo, a $3.5K shotgun, a $2.5K duck blind c/w benches to keep you from crouching in the water, a $150 Duck Dynasty Duck Call, a $3.8K pedigreed trained retriever dog,
You just need a lake or pond, a park bench, a bag of stale bread,……………………………..
and a hammer.
sab
@Jay: I think you just lost TaMara’s approval.
zhena gogolia
@White & Gold Purgatorian: White supremacy was secure 50 or 60 years ago.
thruppence
@piratedan: If only.
I know. Murder is bad. But we’re in a class war and a lot of us are casualties.
The Unmitigated Gaul
@Splitting Image: Yes! ” Never more appropriate.
“History repeats itself first by tragedy, second by farce.”
The Unmitigated Gaul
@Bupalos: Brilliant observation! There is something SO AMERICAN and “oh, fuck it!” about voting in this obvious buffoon a second time.
It would be wildly amusing if not for the fact that action on climate change might be put on the back-burner (so to speak) for four years.
Even then, the green initiatives that Joe put in place will be irreversible.
I may be getting into the Christmas spirits a little early but I think we’re in for a lot of entertainment and minimal damage for the duration of Trump’s clown show.