Non-Crazy Idea With A Foundation Of BS

America's Sweetheart and America's favorite cranky old coot paired up to talk up the idea of turning the Post Office into a banking system for the under-served. To cur to the spoiler: After roughly an hour with Google and my Sixers, I am confident that the advocates, including Sen. Kristen Gillibrand and the US Post Office team, have failed to understand the numbers and the revenue opportunity they are tossing about and are talking about $89 billion when $30 billion is nearer the mark. $30 billion is not a trifle, but its not $89 billion either. And that sort of easily discovered error does not do much for my confidence in the quality of the research effort by the advocates. 

And what is it with these progressives anyway? They want the government to have all our medical information and now they expect people (many of whom have, well, documentation challenges opening a conventional bank account) to trust the government with their financial information and savings? Do they know who is President or did Bernie forget?

Today's buzz was Tweeted by "Take On Wall Street". Let's toss them the mic:

A Public Option For Banking

It’s time to stop relying on the big banks and predatory lenders, and expand access to fair consumer banking services through “a public option” like postal banking and public banks.

Postal Banking

Regulating abusive and aggressively marketed products is important, but more can be done to broaden access to high-quality, low-cost financial services. As many as 8 million American households don’t have access to basic banking, like a checking account, and 1 in 5 Americans don’t have access to affordable accounts, debit cards, and credit. The big banks no longer offer free checking, and fees for basic banking have skyrocketed.

Worse still, nearly 28% of U.S. households rely on fringe and often predatory financial institutions for banking and credit. Fees to payday lenders and check-cashers cost these households an astonishing $89 billion a year. That’s more than $2,400 per household, or 10% of their average income. These predatory services are concentrated in low-income neighborhoods and communities of color, stripping additional wealth from those who can least afford it.

The U.S. Postal Service (USPS) is well placed to provide such basic banking services. In past decades, the USPS offered savings accounts on a significant scale, and postal systems in countries around the world currently provide financial services to more than a billion consumers.

Keep on eye on that $89 billion figure and we will segue to Sen. Gillibrand, unveiling her 2018 legislative proposal:

Kirsten Gillibrand Unveils A Public Option For Banking

The idea would provide a low-cost alternative to payday loans — and it might just save the Postal Service, too.

Sen. Kirsten Gillibrand (D-N.Y.) is introducing legislation Wednesday that would require every U.S. post office to provide basic banking services, an ambitious step aimed at improving the lives of Americans with limited financial resources.

The bill brings to Congress for the first time a policy idea that has already won the support of liberal economists and anti-poverty activists: Turning the nation’s sprawling network of U.S. Postal Service facilities into places where working-class and low-income Americans who lack adequate access to commercial banking can obtain low-cost, short-term loans. Sens. Elizabeth Warren (D-Mass.) and Bernie Sanders (I-Vt.) have both spoken out in favor of postal banking, but Gillibrand is the first to introduce legislation mandating it.

The central goal of the bill is to replace risky financial products like payday loans, which can trap borrowers in prolonged cycles of debt, with regulated alternatives.

Do note "short term loans", such as payday loans. And let's say hello to an old friend as we learn how this will save the Postal System:

A postal banking system could be a major boon to the financially strained Postal Service. If even 10 percent of the money Americans currently spend on interest and fees for risky financial products went toward postal banking loans that cost 90 percent less, the Postal Service would gain almost $9 billion in annual revenue, according to a 2014 study conducted by the Postal Service Inspector General.

Here's their White Paper and yes, the "almost $9 billion" in new revenue comes from 10% market share of an $89 billion market as of 2012. Now, one might want to ask why the Sen. Gillibrand and the US Post Office hope to take in ten percent of an outrageous, exploitative, predatory market. Shouldn't their revenue be much less?!? Don't ask.

The Post Office White Paper describes their proposed product offerings in detail but this description from Slate captures the spirit:

If Democrats do try to bring back postal banking, there are two main ways to do it. First, would be the basic approach: The post office could simply offer low-dollar checking accounts and debit cards, to make sure every American has affordable access to the absolute essentials of financial services. That would be a relief to the millions of households with no bank account today, and might not even be that much of a political lift—after all, the Postal Service would be catering to customers that Bank of America and Wells Fargo seem mostly uninterested in these days. This approach wouldn’t dramatically change the face of American finance; it would assist the unbanked, but less so the much larger group of underbanked.

The more ambitious approach, which Gillibrand and other Democrats have embraced, would be far more seismic. Gillibrand’s bill would allow the postal service to also make small loans at low interest rates and would almost certainly compete payday lenders out of business. The bill states that postal banks could make loans of up to $500 at a time at interest rates in line with the yield on month Treasury bills, which today is sitting at a low 1.65 percent. That rate of interest is probably too low given how many of these loans will likely default. The Postal Service’s Inspector General report pictured interest rates closer to 25 percent, which would still save customers hundreds of dollars compared to payday loans that commonly come with APRs around 400 percent. 

And now the reveal: Here is the study describing the $89 billion opportunity by CFSI:

Serving the underserved market : Market Size Study

They have a beautiful depiction of the market, below.

The possibly-not-obvious problem? The biggest market segment - $49.6 Billion - is automobile and other installment loans that go beyond the scope of the Post Office White Paper and the Gillibrand proposal. Oops.

Payday loans are included in the green column on the far left (as well they might be!). However, the $21.4 Billion total there includes Pawn shop loans of about $5 B, payday loans (internet and storefront) and overdraft protection on checking. The Post Office won't be running a pawn shop, so let's subtract that and say that $16B is left.

The orange "Payments" column of $8.9B looks good, as does the $4.7 B for checking and savings services. Tax preparation services and debt settlements for $4.2B? I don't think so. Take it out.

So totaling up the services the Post Office actually hopes to offer gets us to $16B (payday) + $9B Payments +$5B Checking/Savings, or roughly $30 Billion of market opportunity. 10% market share is $3 billion. Nothing to sneeze at, but not the number advertised.

So how great an idea is this, anyway? In an attempt to approach reality from a different direction, a UPenn professor, Lisa Servon, actually worked in a check cashing store and talked to customers about their background and motivation (Crazy, amirite?). Her thoughts are summarized here; a snippet:

It didn’t even seem clear to people studying the banking industry as to why people would ever use a check-cashing service. Surprisingly, it turned out that there were reasons:

Servon was surprised by what people told her. Over and over, Servon heard and observed that check cashers often met customers’ needs better than banks did.

She discovered there were three main reasons people used these services instead of banks: cost, transparency, and service.

She got a book out of it as well.

From yet another perspective, the Japanese had a more extensive Postal Bank with huge private savings. A 2005 Parliamentary campaign was oriented towards privatizing it. Apparently this institution had become cozy with crony capitalists and politicos. Who could have seen that coming?

Based on the proposal and target market I don't foresee the US Post deposits becoming huge so that predictable problem shouldn't arise. Or, limit their investments to Treasury bills. Time may tell!

STILL IRKED: The Take On Wall Street article includes this howler:

 

Worse still, nearly 28% of U.S. households rely on fringe and often predatory financial institutions for banking and credit. Fees to payday lenders and check-cashers cost these households an astonishing $89 billion a year. 

 

Well, no. As noted, payday lenders are much less than that.

 

A different advocacy group, the Campaign For Postal Banking, has this formulation:

 

The $100 billion a year Alternative Financial Services (AFS) industry has flooded the communities where the underserved live with products, services and practices that are expensive and often predatory. Each year, the average underserved household spends $2,412 – nearly 10 percent of gross income – in fees and interest for alternative financial services...

 

The $100 billion is for a different year. However, they have looked at a similar report!

The AFS industry includes:

• Check cashing services
• Payday lenders
• Auto title loans
• Pawn shops
• Rent-to-own stores
• Tax refund anticipation loans

OK, they noted auto loans and installment sales of bigger-ticker items. And they claim the public spends $7 billion a year on payday loans, which looks a lot like the numbers in the green column from the 2012 study. This group might be worth reading.

 

As to Sen. Gillibrand, I'm not sure. Her website includes this:

 

The Postal Bank would effectively wipe out predatory payday lending industry practices because low-income workers would be able to take out low-interest, small-dollar loans from the Postal Bank instead of being forced to rely on predatory payday lenders. High-cost, predatory financial products like payday loans cost the average underserved household 10 percent, or $2,412, of their gross income in fees and interest. This adds up to about $100 billion of lost savings for low-income families across the country, and results in diminished funding for rent, food, and childcare, as well as an inability to build credit. Under Gillibrand’s bill, any American could o pen an account at the Postal Bank.

 

Payday loans are the tip of the iceberg. I don't know whether she is hiding the ball or is sincere and ignorant.

 

UNANSWERED QUESTIONS: Why isn't there a WalMart Credit Services dominating this market? Or is there? Well, yes - among many other services they will cash checks up to $1,000 for a $4 flat fee, which does not outrage me. That would be 2% on a $200 check. Unfair?

 

Further dabbling suggests I can send money to Italy for an $8 fee. Same to Mexico. Presumably varies by country but I'm done for now.

 

BOYCOTT NUMBERS: The Babylon Bee battles AOC. Stop the fight!

Comments

[Ignatz Ratzkiwatzki]

--But I do wonder if the sheer number of mass killings has caused a psychological change in a segment of the American people.--

The psychological change in America occurred when people accepted hugging each other in a closet waiting to be shot as a plan.
Shelter in place is as unAmerican a sentiment as ever saw the light of day.
Had it obtained among our forefathers we'd be hiding in our UK closets waiting for the bobbies to slap the gyves on us for not belonging to the Church of England. And if some manage to escape they'd be tiptoeing through the tulips in Holland. And if a dissenting few did manage to cross the Atlantic they'd still be sheltering in place in the shadow of Plymouth rock instead of heading west to the wilderness.
Are we not men? We are devo.

[MissMarple2]

Victoria Toensing
‏ @VicToensing
2h2 hours ago

Is @SenatorBurr going to subpoena @HunterBiden to find out how much $$$ he received from Burisma, the Ukrainian company Daddy Joe put him on Board while Veep? Or how much $$$ Hunter received from his Chinese investment company, Bohai Harvest?

[Extraneus]

Flashback… Trump on China in 2011: “Listen You Motherf***ers, We’re Gonna Tax You 25%”

Donald Trump told the Las Vegas crowd,

“So easy. I’d drop a 25 percent tax on China. And I said to somebody it’s really the messenger. The messenger is important. I could have one man say, (in high voice) ‘We’re gonna tax you 25 percent.’ And I could say, (in deep voice) ‘Listen, you motherfuckers, we’re gonna tax you 25 percent.’”

The crowd loved it.

[jimmyk]

The post office in the little town we now live near is quite pleasant, and the postal workers are friendly and helpful.

That's good, but it's still losing money hand over fist.

[Extraneus]

Video at the link, btw. :-)

[MissMarple2]

Must watch & share:

This is one of the most dishonest bills we have passed out of the House.

A purposefully mislabeled bill on “pre-existing conditions” meant to mislead Americans and limit choice and innovation in healthcare.

Don’t believe the spin, here’s my explanation: pic.twitter.com/kQMzfIkfXN

— Rep. Dan Crenshaw (@RepDanCrenshaw) May 10, 2019

Video at the link, with sub-titles for those without sound. This guy is pretty good.

[James D.]

New York Wants To Force All Gun Owners To Buy A Million Dollar Liability Policy To Exercise Their RIGHTS

Would that apply to police officers, too?

[MissMarple2]

https://dailycaller.com/2019/05/08/shaffer-joe-biden-china/

Tony Shaffer:

"SHAFFER: There’s Something About Joe Biden — His China Fetish"

[Tom R]

Though I think Mueller doesn't like Trump

What is the basis for that opinion? I know Trump wants people to believe that but other than his public comments what else do you base that on?

FBI records recently released to the public indicate Trump was an FBI informant for a long time and helped Mueller (and Rudy, Comey and Barr) go after organized crime. You would think Mueller would be grateful to Trump for helping him fight crime in the past.

[Narciso79]

Campaign for postal banking who's funding that,

Yes they want us as eloi as possinle.

[Extraneus]

Would that apply to police officers, too?

According to the article, no.

[Ignatz Ratzkiwatzki]

--Speaking of DMV, Buckeye, when you finally have to wander up to Delaware to renew your license or get new plates, you will be pleasantly surprised when you find the little shop in a strip mall that does all that under contract.--

As a member of AAA you can do all vehicle business [as opposed to driver's license] there instead. Always short lines and friendly people.
In nine states you can do your license at AAA too.

[henry]

can do license plates at the grocery store.

[Narciso79]

So it's the postal workers union gig, well that wont make service any slower will it.

[Tom R]

Question for CH and anyone else who believes Rosenstein has always been a rule of law White Hat from the start.

Based on everything we know now about Rosenstein that supports our positive judgment of Rosenstein’s character, what substantive difference did it make that Sessions recused himself on the Russian collusion investigation when Trump has known from the start he could trust Rosenstein to be in charge of Mueller? Another way of looking at it is asking what would Sessions have done differently than Rosenstein did?

[MissMarple2]

https://www.foxnews.com/us/taylor-university-student-like-mike-pence-campaign-support-vp

[Threadkiller]

Trump has known from the start he could trust Rosenstein to be in charge of Mueller

[Tom R]

If there was any doubt about the validity of the Trump Curse...

https://apnews.com/06b8ce54cdd349199d63396be759ea09

[Threadkiller]

Tom, did you find a link that supports your assertion about Rosenstein and the wearing of a wire? The one you posted yesterday was attributed to anonymous sources.

[MissMarple2]

https://www.lifenews.com/2019/05/10/mom-of-teens-brian-sims-harassed-files-criminal-complaint-wants-him-to-apologize-to-her-daughters/

Good. I am tired of democrats thinking they are above the law.

[Buckeye]

MT, I have already been to the strip mall BMV for both plates and renewing driver's license.

Have had several conversations with the Indian gal who has the franchise.

Very pleasant, and sharp as a tack.

[Buckeye]

That's good, but it's still losing money hand over fist.

True jimmyk, but at least I don't hate their guts for it:)

[MissMarple2]

https://www.dailywire.com/news/47033/james-woods-releases-new-statement-about-twitter-ryan-saavedra

[Buckeye]

I just remembered, Mrs. Buckeye and I need to renew passports.

Now I will find out just how friendly those postal workers are.

[Tom R]

TK,

It listed the name of the DOJ official who was in the room and heard Rosenstein.

Since I answered your question answer this one. Do you believe McCabe and Gatewaypundits’s version of the story is the accurate one? A simple yes or no answer is all that is required.

[Beasts of England]

'I know Trump wants people to believe that but other than his public comments what else do you base that on?'

Classic!! 😂

[Tom R]

Beasts,

Do you take everything Trump says 100% literally and thus rule out any possibility of deception on his part?

[Threadkiller]

Here is what you said:

“Almost every pro-Trump pundit accurately reported that Rosenstein’s offer to wear a wire to try and entrap Trump was said with obvious sarcasm. Witnesses of the discussion are on record supporting that.”[emphasis mine ]

Here is what Jimmy asked:

Link? What witnesses are on record? I’ve only read about “unnamed” sources. That’s not “on record.”

You then attempted to support your claim by posting a link where an anonymous source named a name.

Again, do you have a link to something that supports your claim or is this rear view mirror material?

[MissMarple2]

https://www.indystar.com/picture-gallery/news/real-estate/2019/05/10/hot-property-5-m-downtown-home-only-one-like-indy/3643947002/?utm_source=dlvr.it&utm_medium=twitter

This building is almost in the center of downtown Indianapolis.

Quite a few pictures. The renovation is nice but I cannot imagine living there.

[Ignatz Ratzkiwatzki]

You know, I'm starting to see the light on all this electoral college criticism.
Another aspect of it is how unfair it is that puny states get the same number of Senators as big ones.
Seems to me Maryland, Rhode Island, Delaware, New Hampshire, Massachusetts, New Jersey, Connecticut and Vermont all of which together have less than a third of the area of California, shouldn't wield 8 times the number of Senators as us.
If we're going to correct for insufficient population weighting, how bout correcting for excessive border weighting?
Merge all the puny states into one and we'll call it even.

[Narciso79]

Note apparently we read their book:

https://mobile.twitter.com/omriceren/status/1126688348871938048

[JM Hanes]

Tom R:

I think perhaps I need to clarify what I meant by, "As far as I'm concerned this is Justice delayed," yesterday, before retiring from the discussion. The reference to that old saw, "Justice delayed is justice denied" may not have been as obvious as I assumed it would be.

[clarice]

A little humor:https://scontent-iad3-1.xx.fbcdn.net/v/t1.0-9/59760270_10156686713078778_3205971745324400640_n.jpg?_nc_cat=103&_nc_ht=scontent-iad3-1.xx&oh=67db34710e0066ea33afd40d837e14d9&oe=5D5F22CE

[Tom R]

TK

You evaded answering the simple Yes/No question. Were you afraid to go on record agreeing with McCabe (a known liar) and Gatewaypundit’s (someone stupid enough to believe McCabe) version of events?

[Threadkiller]

Tom, if you paid attention while you insulting everyone with your Gateway Pundit comments you would have read that I don't trust any of those versions to be accurate.

I only brought up the topic after you linked a tweet that claimed that Rosenstein said it in jest. I included your tweet in with the other versions I don't trust.

You decided that defending the tweet's unsubstantiated version was of paramount importance, while I spent zero effort defending any version.

[Captain Hate]

what substantive difference did it make that Sessions recused himself on the Russian collusion investigation when Trump has known from the start he could trust Rosenstein to be in charge of Mueller?

In retrospect probably nothing but with the caveat that we still don't know a lot of what went on, and I'm not sure we'll ever know unless Trump ever writes about it in post Presidential memoirs.

[Threadkiller]

Evaded? Tom... this is an comment blog with people posting as quickly as the can.

Nice jumping to conclusions. You are good at that. Next go around, look at the timestamps before you look like a fool.

[Threadkiller]

Heading out.Don't get all antsy while I'm away Tom.

[lyle]

Do you take everything Trump says 100% literally

Sheesh, dude. Apparently only you—among us mortals—can divine when to take the words of the prez literally or figuratively. We’re lucky to have you in our presence...

[Stephanie Nene Not Your Normal Granma]

OH FFS..

[Narciso79]

How do you say you betcha in russian?
https://amgreatness.com/2019/05/09/was-sergey-kislyak-part-of-the-russian-collusion-hoax/

[President-Elect Jim,SunnyvaleCA]

Belated congrats to TM for the InstaLanche.

Is an instalanche still a thing?

[Manuel Transmission]

Here’s a link to the big celebration coming up on the 25th that will honor the fully restored Buffer that lurks behind our bird in my logo.

Hoyden, are you still planning to come out for that?

https://www.museumofflight.org/Plan-Your-Visit/Calendar-of-Events/4907/vietnam-veterans-memorial-park?utm_campaign=Project%20Welcome%20Home&utm_source=hs_email&utm_medium=email&utm_content=71367269&_hsenc=p2ANqtz-9_F6-sUqsUQtJM7Wa2_U_BQ_s32ta5TI8fo1IQpc_RbSbQb3UiZSDMct9yCAtxojjfcmuY7NkgQnsDGEvJbwduir9Q_g&_hsmi=71367269

[Melinda]

He's been trolling for so long there's no way he would want to be left out.

For self amusement at minimum.

[Extraneus]

BBC Host Fired For Royal Baby Tweet Deemed Racist Tells Network To ‘F*** Off’

I didn't know Markle's mum is African American, not that I care.

[Old Lurker]

Alexander Hamilton called in from the Other Side wanting to be involved in any debate regarding establishing a National Bank. I gave him Jimmy's contact information.

[Melinda]

11:02 was for narciso on Kislyak, just to be clear.

[Old Lurker]

James "New York Wants To Force All Gun Owners To Buy A Million Dollar Liability Policy To Exercise Their RIGHTS"

Wonder how much would be required for big knives or muscle cars. Will farmers have to pay extra for bags of fertilizer and diesel fuel for their tractors? How about pipes? Do you have to insure it all, or just the caps that seal the ends?

So many questions.

Femall.

[Extraneus]

Interesting link to Julie Kelly, narciso.

[Jane]

TK,

Could you and Tom give it a rest for a day? Or take it to a different thread? Thanks

[Tom R]

if you paid attention while you insulting everyone with your Gateway Pundit comments

I’m waiting with baited breath for Beasts to officially inform you of committing a straw man logical fallacy. Not once did I ever insult “everyone” as you claim. What I did do was point out to everyone how dishonest Hoft was and that he was behaving no differently than the Fake News media in his intentional misrepresentation of what Wray said. As several people confirmed in their replies, they already knew Hoft was not someone to put any trust into. There are however a few people here repeat the same bullshit he spews out which is a clear indication to me they believe him. If you think I insulted anyone, the insult would be limited to that subset of the JOM community. I prefer to think of it as me doing them a favor by pointing out why they shouldn’t be taking him seriously.

[Melinda]

OL-

And of course it wouldn't be a mandatory state run insurance pool...

[Captain Hate]

I got no dog in a Beeb vs Royals shitstorm other than I'm glad they're all looking like dimwits and whores.

[MissMarple2]

https://twitter.com/JohnBarnwell888/status/1120836449409163270

A month-old thread I just ran across. This guy brings in Soros, the Queen, the Privy Council, and even Mitt Romney!

[Narciso79]

Yes om the show her father was African amsrican, otherwise I wouldn't have known,

[Narciso79]

Kislyak was the facilitator of the Iran deal, also hes Ukrainian born

[Tom R]

Lyle @ 10:52

What makes you think that I think I’m the only person here who knows Trump is a disciple of SunTzu and a master practitioner of deception? I have a big ego but I would never allow it to get so big as to believe I’m the only Trump supporter here with that knowledge of Trump’s background.

Trump’s comments yesterday are the perfect litmus test to determine the ability of Trump’s supporters to determine what to take literally and what is deceptive. Same question for you that I asked Beasts. Do you believe Trump was 100% literal and telling the truth when he said Mueller wanted to be FBI Director again and formally applied for the job?

[JM Hanes]

Another Bob:

"You just know a government-controlled bank will end up being the delivery method for ever more payoffs to favored people and groups.
[...]
When it struggles, demands that “the rich” be forced to open accounts to beef up deposits?"

Much easier to set up an account for every federal employee, deposit their earnings therein, instead of issuing paychecks, and give 'em all debit cards. Et voilá, plenty of $$ for everybody to play with! What could go wrong? Imagine the fun and games on who pays interest to whom.

[JM Hanes]

Narciso:

"How do you say you betcha in russian?"

Еще бы

[henry]

fun:

https://babylonbee.com/news/brave-pro-abortion-legislator-challenges-group-of-nuns-to-fistfight

[Tom R]

CH @ 10:45

We are in full agreement once again. Now consider this. With Trump knowing from the outset he could fully trust Rosenstein and that Sessions recusal probably had no negative impact whatsoever on the Mueller investigation, what was the real purpose of all of Trump’s tweets and comments complaining about Sessions recusal and that he didn’t have an AG to defend him against the Mueller witch hunt?

[Charlie Martin]

Germany instituted postal banking in 1909 and privatized it in 2003. Postbank is now a service mark of Deutsche Bank. These folks are now going back 110 years for their new ideas.

[henry]

once a nag...

The Wall Street Journal @WSJ
52s

"The president is exercising powers that do not really belong to him." Retired Supreme Court Justice John Paul Stevens wants his former colleagues to adhere to precedent.

[Ignatz Ratzkiwatzki]

The misuse of various forms of speech includes incitement to riot, slander, libel, assault, fraud, sedition, treason and many more I no doubt forgot.

Shouldn't the antiAmerican criminals in NY require individual liability insurance for free speech too?

[Stephanie Nene Not Your Normal Granma]

God was missing for six days. Eventually, Michael, the archangel, found him, resting on the seventh day. He inquired, "Where have you been?"

God smiled deeply and proudly pointed downwards through the clouds, "Look, Michael. Look what I've made."

Archangel Michael looked puzzled, and said, "What is it?"

"It's a planet," replied God, and I've put life on it. I'm going to call it Earth and it's going to be a place to test Balance."

"Balance?" inquired Michael, "I'm still confused."

God explained, pointing to different parts of Earth. "For example, northern Europe will be a place of great opportunity and wealth, while southern Europe is going to be poor. Over here I've placed a continent of white people, and over there is a continent of black people. Balance in all things."God continued pointing to different countries. "This one will be extremely hot, while this one will be very cold and covered in ice."

The Archangel, impressed by God's work, then pointed to a land area and said, "What's that one?"

"That's Texas, the most glorious place on earth. There are beautiful mountains, rivers and streams, lakes, forests, hills, and plains. The people from Texas are going to be handsome, modest, intelligent, humorous, but proud and they are going to travel the world. They will be extremely sociable, hardworking, high achieving, carriers of peace, and producers of good things."

Michael gasped in wonder and admiration, but then asked, "But what about balance, God? You said there would be balance."

God smiled, "I will create Washington, DC. Wait till you see the fools I put there."

[Narciso79]

Hey Charlie how have you been?

[Buckeye]

Brian Sims is overdue having an "accident".

[Ignatz Ratzkiwatzki]

--Could you and Tom give it a rest for a day?--

Tom in his own way is as obsessed with this issue as TK was with the birther thing, so I guess it's not surprising TK is mixed up in this latest blight.
Except in this case the roles are somewhat reversed from the DoT/TK wars.

[lyle]

I said yesterday that that Mueller emphatically did not exonerate Trump. You then posted a link saying that Trump himself thought Mueller did.

So which Trump was that? The literal Trump or the figurative Trump?

Never mind. I’m slinking back out of this and regretting I ever popped in. I’m going back to my trivial, perennial off-topic posts on food and wine that everyone can SOB...

[henry]

MarketWatch Retweeted
mktwrobs's avatar
Rob Schroeder @mktwrobs
4m

Liu He leaving U.S. Trade Representative's office. Looks like talks over for moment.

[JM Hanes]

henry:

""The president is exercising powers that do not really belong to him."

Says the guy who wrote the majority opinion in Kelo v. New London!

[Threadkiller]

Jane, Its a deal. Especially after Tom's flagrant lying within his 11:12.

I can't stop the other JOMers that point out his flaws.

[Melinda]

Hi Chaco!

German postal services were private from ~1400 through to Napoleon, the original National Socialist, in case anyone is curious. The three heirs to that postal fortune are as yet, unmarried.

[Threadkiller]

Except in this case the roles are somewhat reversed from the DoT/TK wars.

With the exception that I actually linked and quoted source material.

[lyle]

I lol’d at your 11:29, henry. But then I thought: it wouldn’t surprise me at all if it were true...

Parody and satire. RIP

[JM Hanes]

Chaco!

How nice to see you here! Hope all goes well.

[Extraneus]

I'm surprised James Woods isn't on GAB yet, and also that Trump doesn't post his tweets there as well as on Twitter.

[Tom R]

Iggy @ 11.34

I love discussing politics and since Spygate is the biggest political scandal in US history there is no way in hell I’m not going to discuss it. Since the outcome of Spygate is going to have a HUGE impact on the future of the country, I’ve got zero problems with anyone thinking I am obsessed about Spygate.

[Tom R]

Lyle @ 11:34

Genuinely sorry to see you bow out. I do thank you for acknowledging in a roundabout way that wise Trump supporters know they can’t take everything Trump says 100% literally. The challenge as you and I and anyone else within an IQ higher than Forrest Gump knows is figuring out what is literal and what is deception. I freely admit that is not an easy task but I trust my judgement to get it right significantly more times than I get it wrong.

[Momto2]

Driving to the vet this morning I was listening to Mike Gallagher. He was discussing the Burr subpoena of Don Jr. and taking caller reaction. Everyone I heard was outraged. Thoughts on why he did it ranged from blackmail to some type of payoff in actual $ or some lucrative gig after he leaves the Senate. Will Mitch reign him in?

[Narciso79]

Oh that's not suspicious:

https://mobile.twitter.com/alimhaider/status/1126872366833967106

[Jane]

Thanks TK, I really appreciate it.

[henry]

dozens of Samsung internal coding projects were being exposed on GitLab thanks to being erroneously configured as public without any password protection

He blames the outsourcing of software development to third parties for exacerbating the problem. "Remote developers may recklessly share, send and store your source code without any protection or care," Kolochenko warns, "cybercriminals glean leaked data from public websites, frequently securing a windfall."

https://www.forbes.com/sites/daveywinder/2019/05/09/samsung-investigates-massive-data-leak-what-you-need-to-know/?utm_source=TWITTER&utm_medium=social&utm_content=2300046830&utm_campaign=sprinklrForbesTechTwitter#5619e5c22e2c

[Melinda]

Plan Beta.

[Tom R]

Jeff Carlson with some words of wisdom on discussing Spygate.

https://twitter.com/themarketswork/status/1126845566049079296?s=21

[Tom R]

Russian infiltration of the DNC was one of the revelations in the handwritten notes of the interview with Steele that John Solomon recently divulged.

https://twitter.com/wakeywakey16/status/1126843196506550273?s=21

[henry]

Tom Fitton @TomFitton
15m

Remember: Comey's ambush of @realDonaldTrump with the Clinton-DNC dossier garbage was orchestrated during an Oval Office meeting with Barack Obama, Biden, Clapper, Brennan, and Rice.

[henry]

cry me a river asshole: (thread)

Charlie Savage
@charlie_savage

Baker says being attacked by name by Trump with words like coup, liar, treason was terrible, out of body experience, extremely unnerving. People wouldn’t hire him, told him he was qualified and they liked him but he was too controversial.

https://twitter.com/charlie_savage/status/1126859309046992896

[Tom R]

Jeff Carlson connected some dots and believes the Horowitz/Huber report has been officially sent to the people accused of wrongdoing to give them the required two weeks to comment on the allegations.

https://twitter.com/themarketswork/status/1126831268543418369?s=21

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[Captain Hate]

what was the real purpose of all of Trump’s tweets and comments complaining about Sessions recusal and that he didn’t have an AG to defend him against the Mueller witch hunt?

If I'm forced to guess at this, probably to indicate to the voters that he shares their frustration at this Russian nonsense.

[GUS]

He's a troll now.

[Tom R]

The DOJ Swamp draining operation is in full swing. Stock up on the popcorn because this one sounds like it could be very entertaining.

https://twitter.com/dawsonsfield/status/1126847262720761859?s=21

[Tom R]

Gus,

Here is some friendly advice to a fellow Trump supporter. Jeff Carlson had people like you in mind when he posted this suggestion. How about giving it a try for once?

https://twitter.com/themarketswork/status/1126845566049079296?s=21

[henry]

I though only vampires didn't appear in mirrors. But trolls as well it seems.

[Buckeye]

self-awareness deficit disorder

[President-Elect Jim,SunnyvaleCA]

I like the idea of interested people dropping back one thread to talk about 4D. We all hope miscreant Dems get punished. Some are patient to await developments, others enjoy examining each bit of evidence.